Theory of the firm for strategic management: economic value analysis
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Cambridge [u.a.]
Cambridge Univ. Press
2009
|
| Ausgabe: | 1. publ. |
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | Incl. bibliogr. references and index |
| Beschreibung: | XIV, 295 S. graph. Darst. |
| ISBN: | 9780521863346 9780521681940 |
Internformat
MARC
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| 245 | 1 | 0 | |a Theory of the firm for strategic management |b economic value analysis |c Manuel Becerra |
| 250 | |a 1. publ. | ||
| 264 | 1 | |a Cambridge [u.a.] |b Cambridge Univ. Press |c 2009 | |
| 300 | |a XIV, 295 S. |b graph. Darst. | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 500 | |a Incl. bibliogr. references and index | ||
| 650 | 7 | |a Strategische planning |2 gtt | |
| 650 | 4 | |a Unternehmen | |
| 650 | 4 | |a Strategic planning | |
| 650 | 4 | |a Management | |
| 650 | 4 | |a Business enterprises | |
| 650 | 0 | 7 | |a Unternehmenstheorie |0 (DE-588)4078614-6 |2 gnd |9 rswk-swf |
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| 943 | 1 | |a oai:aleph.bib-bvb.de:BVB01-017064444 | |
Datensatz im Suchindex
| _version_ | 1820240337987174400 |
|---|---|
| adam_text |
Contents
List of figures page xi
List of tables xii
Preface xiii
Part I Theories of the firm
1 Introduction 3
The emergence of strategic management 3
The scope of the field 7
The multidisciplinary basis of business strategy 8
The concept of firm 11
The firm as a production unit 11
The firm as a decision-making process 13
The firm as a contracting solution 16
The firm as a collection of resources 17
The theory of the firm for strategic management 19
A value approach to the analysis of firm strategy 21
Structure of the book 22
2 The contracting view of the firm 27
Coase and the nature of the firm 27
Williamson and transaction costs economics 31
Property rights and incomplete contracts 35
Agency theory 39
Limitations of the contracting view as a theory of the firm 41
The role of opportunism, hold up, and trust in the
emergence of firms 42
Comprehensiveness of the contracting view 45
Usefulness for strategic management and its practice 49
Contributions of the contracting view to a theory of the firm
for strategy 51
Contractual analysis in a make-or-buy decision and its
limitations 53
Example of an in-house cafeteria 53
viii Contents
3 The nature of the firm in strategy 56
The resource-based view of the firm 56
Firm growth 57
Competence building 59
Firm heterogeneity and differences in performance 60
Questions about the resource-based view 64
Does it provide tautological explanations about
performance? 64
Is it a useful theory? 66
Does it explain why firms exist? 68
The firm in strategic management 70
A value-based model of firm strategy 71
The effect of firm boundaries on the value created by
internal resources 76
Internal effects 77
External effects 79
Why do different firm strategies exist? 80
4 Creating economic value 85
What is economic value? 85
Value in economics 86
Value in marketing 88
Value in finance 90
Value in strategy 91
Sources of customer value creation 92
Value creation through enhancing customer benefits 95
Greater utility in existing product or service features 96
Different combinations of product or service features 97
New products and services 98
Value creation through reducing customers' costs 99
Reducing monetary costs (price) 99
Reducing nonmonetary costs 100
Value creation through reducing firms' costs 103
The influence of externalities 104
Innovation, entrepreneurs, and new value creation 106
The role of entrepreneurs in value creation 108
Value analysis versus transaction costs economics (TCE) as
drivers of firm boundaries 109
Williamson's example of mines and houses 109
5 The appropriation of value by firms 114
Where do profits come from? 114
Profits as a residual income in neoclassical economics 115
Contents
Profits as implicit compensation to factors of production 117
Profits as retribution to the entrepreneur 118
Contextual conditions for profits 120
Uncertainty 121
Innovation 122
Specificity 124
Profit generation through resource combinations 127
The sustainability of profits through barriers to competition 129
Barriers with perfect replicability 131
Barriers with asymmetric replicability 132
Barriers with limited substitutability 132
Value analysis, profits, and competitive barriers 134
Profit sustainability of a new restaurant 134
Part II Firm strategies
Business strategy 141
Elements of business-level strategy 141
Managing resources to create value for customers 143
Value created by products 145
Value created by professional services 147
Value created by networks 148
Market positioning 152
Segmentation 153
Differentiation 156
Competitive dynamics 160
The interaction among the different elements of strategy 164
The influence of the industry and the top managers on
business strategy 165
Value analysis at the business level 168
Why do schools exist, but not firms for long-term
secretarial services? 169
Corporate strategy 174
Value creation at the corporate level 174
Horizontal diversification into new businesses 177
The benefits of diversification 177
The costs of diversification 181
The effect of diversification on performance 184
Vertical integration 186
Mergers and acquisitions 189
Strategic alliances and cooperation 192
x Contents
Value analysis at the corporate level 195
The integration of channel and content in Vivendi 195
8 International strategy 198
The theory of the multinational 198
A value approach to the MNE 203
International presence 207
Global strategy 209
Value analysis in internationalization 213
The internationalization of retailers Wal-Mart and Ikea 213
9 Strategy and social value 216
Markets and social value 216
Market imperfections 217
Monopoly 218
Externalities 221
Other market imperfections 223
Wealth distribution 225
Corporate social responsibility 226
Value creation and CSR 231
A dual standard for business and CSR activities 236
Ethics and social strategy 237
Value analysis in corporate social responsibility 242
CSR in The Body Shop 242
10 Value analysis in strategy 246
Economic value and the theory of the firm 246
What is a firm? 246
Why do firms exist? 248
What determines firms' boundaries? 249
What causes performance differences across firms? 250
Implications for strategy research and practice 252
The strategic definition of firm boundaries 252
Focus on the customer's perspective 255
Sources of differentiation 257
Industry change and replacement 259
Towards a value theory of the firm in strategic management 260
Areas for future research 261
Limitations of value analysis 264
Further reading 267
References 272
Index 293
Figures
3.1 A value-based model of firm strategy page 74
6.1 Elements of business-level strategy 143
9.1 Monopoly and deadweight loss 218
9.2 Cost-benefit analysis of CSR activities to the firm
and overall society 233
Tables
1.1 Alternative approaches to the theory of the firm page 23
5.1 A categorization of profits, resource combinations,
and barriers 134
6.1 Configurations for value creation 151 |
| any_adam_object | 1 |
| author | Becerra, Manuel 1964- |
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| dewey-ones | 658 - General management |
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| dewey-search | 658.4/012 |
| dewey-sort | 3658.4 212 |
| dewey-tens | 650 - Management and auxiliary services |
| discipline | Wirtschaftswissenschaften |
| edition | 1. publ. |
| format | Book |
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| illustrated | Illustrated |
| indexdate | 2025-01-03T15:00:59Z |
| institution | BVB |
| isbn | 9780521863346 9780521681940 |
| language | English |
| lccn | 2008037805 |
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| spelling | Becerra, Manuel 1964- Verfasser (DE-588)135694574 aut Theory of the firm for strategic management economic value analysis Manuel Becerra 1. publ. Cambridge [u.a.] Cambridge Univ. Press 2009 XIV, 295 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Incl. bibliogr. references and index Strategische planning gtt Unternehmen Strategic planning Management Business enterprises Unternehmenstheorie (DE-588)4078614-6 gnd rswk-swf Unternehmen (DE-588)4061963-1 gnd rswk-swf Strategisches Management (DE-588)4124261-0 gnd rswk-swf Strategisches Management (DE-588)4124261-0 s Unternehmen (DE-588)4061963-1 s DE-604 Unternehmenstheorie (DE-588)4078614-6 s DE-188 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=017064444&sequence=000004&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Becerra, Manuel 1964- Theory of the firm for strategic management economic value analysis Strategische planning gtt Unternehmen Strategic planning Management Business enterprises Unternehmenstheorie (DE-588)4078614-6 gnd Unternehmen (DE-588)4061963-1 gnd Strategisches Management (DE-588)4124261-0 gnd |
| subject_GND | (DE-588)4078614-6 (DE-588)4061963-1 (DE-588)4124261-0 |
| title | Theory of the firm for strategic management economic value analysis |
| title_auth | Theory of the firm for strategic management economic value analysis |
| title_exact_search | Theory of the firm for strategic management economic value analysis |
| title_full | Theory of the firm for strategic management economic value analysis Manuel Becerra |
| title_fullStr | Theory of the firm for strategic management economic value analysis Manuel Becerra |
| title_full_unstemmed | Theory of the firm for strategic management economic value analysis Manuel Becerra |
| title_short | Theory of the firm for strategic management |
| title_sort | theory of the firm for strategic management economic value analysis |
| title_sub | economic value analysis |
| topic | Strategische planning gtt Unternehmen Strategic planning Management Business enterprises Unternehmenstheorie (DE-588)4078614-6 gnd Unternehmen (DE-588)4061963-1 gnd Strategisches Management (DE-588)4124261-0 gnd |
| topic_facet | Strategische planning Unternehmen Strategic planning Management Business enterprises Unternehmenstheorie Strategisches Management |
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