Global strategy:
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Boston, MA
Cengage
[2022]
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| Ausgabe: | Fifth edition |
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | Includes bibliographical references and index |
| Beschreibung: | xx, 460 Seiten Illustrationen, Diagramme |
| ISBN: | 9780357512364 |
Internformat
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Datensatz im Suchindex
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| adam_text | Contents List of In-Chapter Features and Integrative Cases xi Preface xv About the Author xx PART 1 Foundations of Global Strategy CHAPTER 1 STRATEGIZING AROUND THE GLOBE 2 Opening Case: Zoom 3 Why Study Global Strategy? 5 What Is Strategy? 6 Origin 6 Plan versus Action 6 Strategy as Theory 7 Strategy in Action 1.1: German and French Military Strategies in 1914 7 Strategy in Action 1.2: Selling Star Wars to LEGO Top Management 10 Strategy, Strategist, and Strategic Leadership 11 Fundamental Questions in Strategy 12 Why Do Firms Differ? 12 How Do Firms Behave? 14 What Determines the Scope of the Firm? 15 What Determines the Success and Failure of Firms Around the Globe? 15 Strategy in Action 1.3: Confessions of Your Textbook Author 16 What is Global Strategy? 17 Globalization and Semiglobalization 17 What Is Globalization? 17 The Swing of a Pendulum 18 Black Swan and Risk Management 19 Semiglobalization 20 Debates and Extensions 20 Debate 1: Globalization versus Deglobalization 20 Debate 2: Strategic versus Nonstrategic Industries 22 Debate 3: Just-in-Time versus Just-in-Case Management 22 Fostering Critical Strategic Thinking Through Debates 23 Organization of the Book 23 Chapter Summary 24 Key Terms 24 Critical Discussion Questions 24 Topics for Expanded Projects 25 Closing Case: Two Scenarios of the Global Economy in 2050 25 Notes 27 CHAPTER 2 MANAGING INDUSTRY COMPETITION 32 Opening Case: Global Competition in the Cruise Industry 33 Defining Industry Competition 35 The Five Forces Framework 35 From Economics to Strategy 35 Rivalry among Competitors 37 Threat of Entrants
37 Strategy in Action 2.1: High Fashion Fights Recession 38 Bargaining Power of Suppliers 40 Bargaining Power of Buyers 40 Threat of Substitutes 41 Lessons from the Five Forces Framework 41 Strategy in Action 2.2: Digital Strategy and Five Forces 42 Three Generic Strategies 43 Cost Leadership 43 Differentiation 44 Focus 45 Lessons from the Three Generic Strategies 45 Debates and Extensions 45 Debate 1: Clear versus Blurred Definitions of Industry 46 Debate 2: Industry Rivalry versus Strategic Groups 46 Debate 3: Integration versus Outsourcing 47 Debate 4: Stuck in the Middle versus All-Rounder 48 Debate 5: Economies of Scale versus 3D Printing 48 Strategy in Action 2.3: Singapore Airlines Is Both a Differentiator and a Cost Leader 49 Debate 6: Industry-Specific versus FirmSpecific and Institution-Specific Determinants of Performance 50 Making Sense of the Debates 50 The Savvy Strategist 50 Chapter Summary 51 Key Terms 51 Critical Discussion Questions 52 Topics For Expanded Projects 52
ví Contents Closing Case: The Future of the Automobile Industry 52 Notes 54 CHAPTER З LEVERAGING RESOURCES AND CAPABILITIES 58 Opening Case: Canada Goose Flies High Understanding Resources and Capabilities 60 Resources, Capabilities, and the Value Chain 62 From SWOT to VRIO 65 The Question of Value 66 The Question of Rarity 66 The Question of Imitability 66 Strategy in Action 3.1: ASML 67 The Question of Organization 68 Strategy in Action 3.2: CIMC 69 Debates and Extensions 70 Debate 1: Firm-Specific versus Industry-Specific Determinants of Performance 71 Debate 2: Static Resources versus Dynamic Capabilities 71 Debate 3: Offshoring versus Nonoffshoring 72 Debate 4: Domestic Resources versus International (Cross-Border) Capabilities 74 Strategy in Action 3.3: Natura 75 The Savvy Stategist 76 Chapter Summary 77 Key Terms 77 Critical Discussion Questions 78 Topics For Expanded Projects 78 Closing Case: H-E-B Fights Coronavirus 78 Notes 80 chapter 4 The Strategic Role of Culture 94 The Definition of Culture 94 The Five Dimensions of Culture 95 Cultures and Strategic Choices 96 The Strategic Role of Ethics 97 The Definition and Impact of Ethics 97 Managing Ethics Overseas 98 Strategy in Action 4.2: Onsen and Tattoos in Japan 98 Ethics and Corruption 99 A Strategic Response Framework for Ethical Challenges 100 Strategy in Action 4.3: Monetizing the Maasai Tribal Name 101 Debates and Extensions 102 Debate 1: Opportunism versus Individualism/Collectivism 102 Debate 2: Cultural Distance versus Institutional Distance 103 Debate 3: Freedom of Speech versus Censorship on the Internet
104 The Savvy Strategist 105 Chapter Summary 106 Key Terms 106 Critical Discussion Questions 107 Topics For Expanded Projects 107 Closing Case: IKEA’s Challenge in Saudi Arabia 107 Notes 108 EMPHASIZING INSTITUTIONS, CULTURES, AND ETHICS 84 Opening Case: Brexit and Strategic Choices 85 Understanding Institutions 87 Definitions 87 What Do Institutions Do? 88 How Do Institutions Reduce Uncertainty? 88 An Institution-Based View of Business Strategy 90 Overview 90 Two Core Propositions 92 Strategy in Action 4.1: The American Guanxi Industry 93 Institutional Logics and Hybrid Organizations 94 59 PART 2 Business-Level Strategies CHAPTER 5 GROWING AND INTERNATIONA LIZING THE ENTREPRENEURIAL FIRM 114 Opening Case: The New East India Company 115 Entrepreneurship and Entrepreneurial Firms 116 A Comprehensive Model of Entrepreneurship 117 Industry-Based Considerations 118 Resource-Based Considerations 119 Institution-Based Considerations 120 Strategy in Action 5.1: Europe’s Entrepreneurship Deficit 120 Five Entrepreneurial Strategies 121 Growth 122 Strategy in Action 5.2: Tory Burch’s Rise in the Fashion Industry 122 Innovation 123 Network 123 Financing and Governance 124 Harvest and Exit 125
Contents vii Internationalizing the Entrepreneurial Firm 126 International Strategies for Entering Foreign Markets 126 International Strategies for Staying in Domestic Markets 127 Debates and Extensions 128 Debate 1: Traits versus Institutions 128 Debate 2: Slow Internationalizers versus Born Global Start-ups 128 Strategy in Action 5.3: Immigrant Entrepreneurs 129 Debate 3: High-Growth Entrepreneurship versus Ethically Questionable Behavior 130 The Savvy Entrepreneur 131 Chapter Summary 132 Key Terms 132 Critical Discussion Questions 132 Topics For Expanded Projects 133 Closing Case: Boom in Busts: Good or Bad? 133 Notes 134 CHAPTER 6 ENTERING FOREIGN MARKETS 140 Opening Case: Amazon Enters India 141 Overcoming Liability of Foreignness 143 Understanding the Propensity to Internationalize 143 Strategy in Action 6.1 Nordic Multinationals 144 A Comprehensive Model of Foreign Market Entries 145 Industry-Based Considerations 145 Resource-Based Considerations 146 Institution-Based Considerations 147 Where to Enter? 148 Location-Specific Advantages and Strategic Goals 148 Cultural and Institutional Distances and Foreign Entry Locations 150 When to Enter? 150 How to Enter? 152 Scale of Entry: Commitment and Experience 152 Modes of Entry: The First Step on Equity versus Nonequity Modes 152 Modes of Entry: The Second Step in Making Actual Selections 155 Strategy in Action 6.1: Thai Union’s Foreign Market Entries 157 Debates and Extensions 157 Debate 1: Liability versus Asset of Foreignness 157 Debate 2: Old-Line versus Emerging Multinationals: OLI versus LLL 158 Debate 3: Global
versus Regional Geographic Diversification 159 Debate 4: Contractual versus Noncontractual Approaches of Entry 159 Strategy in Action 6.3: Goldman Sachs Enters Libya 160 The Savvy Strategist 161 Chapter Summary 162 Key Terms 162 Critical Discussion Questions 162 Topics For Expanded Projects 163 Closing Case: How Firms from Emerging Economies Fight Back 163 Notes 164 CHAPTER 7 MAKING STRATEGIC ALLIANCES AND NETWORKS WORK 168 Opening Case: Even Toyota Needs Friends 169 Defining Strategic Alliances and Networks 170 A Comprehensive Model of Strategic Alliances and Networks 171 Industry-Based Considerations 171 Resource-Based Considerations 172 Rarity 173 Imitability 174 Organization 174 Institution-Based Considerations 175 Formation 176 Stage One: To Cooperate or Not to Cooperate? 176 Stage Two: Contractual or Equity Modes? 176 Stage Three: How to Position the Relationship? 177 Strategy in Action 7.1: Delta Spreads Its Wings Globally 178 Evolution 178 Combating Opportunism 178 Evolving from Strong Ties to Weak Ties 179 From Corporate Marriage to Divorce 180 Strategy in Action 7.2: Yum Brands, McDonald’s, and Sinopec 181 Performance 182 The Performance of Strategic Alliances and Networks 182 The Performance of Parent Firms 183 Debates and Extensions 184 Debate 1: Majority JVs as Control Mechanisms versus Minority JVs as Real Options 184 Debate 2: Alliances versus Acquisitions 184
viii Contents Debate 3: Acquiring versus Not Acquiring Alliance Partners 185 Strategy in Action 7.3: Renaussanbishi: No Way! 186 The Savvy Strategist 187 Chapter Summary 188 Key Terms 188 Critical Discussion Questions 189 Topics For Expanded Projects 189 Closing Case: Fiat Chrysler: From Alliance to Acquisition 189 Notes 190 CHAPTER 8 MANAGING COMPETITIVE DYNAMICS 194 Opening Case: Jetstar’s Rise in the Asia Pacific 195 Strategy as Action 196 Industry-Based Considerations 198 Collusion and Prisoner’s Dilemma 198 Industry Characteristics and Collusion vis-à-vis Competition 198 Strategy in Action 8.1: The Global Vitamin Cartel 200 Resource-Based Considerations 201 Value 201 Rarity 202 Imitability 202 Organization 202 Resource Similarity 202 Competitor Analysis 202 Strategy in Action 8.2: Alibaba versus Amazon 204 Institution-Based Considerations 205 Formal Institutions Governing Domestic Competition: A Focus on Antitrust 205 Formal Institutions Governing International Competition: A Focus on Antidumping 207 Attack and Counterattack 208 Three Main Types of Attack 208 Awareness, Motivation, and Capability 210 Cooperation and Signaling 211 Debates and Extensions 211 Debate 1: Strategy versus Antitrust Policy *211 Debate 2: Competition versus Antidumping 213 Strategy in Action 8.3: Brussels versus Google 214 The Savvy Strategist 215 Chapter Summary 216 Key Terms 216 Critical Discussion Questions 217 Topics for Extended Projects 217 Closing Case: Is There an Antitrust Case Against Big Tech? 217 Notes 219 part 3 Corporate-Level Strategies CHAPTER 9 DIVERSIFYING AND MANAGING
ACQUISITIONS GLOBALLY 224 Opening Case: The Growth of Marriott International 225 Product Diversification 227 Product-Related Diversification 227 Product-Unrelated Diversification 227 Strategy in Action 9.1: Starbucks Diversifies into Tea 227 Product Diversification and Firm Performance 228 Geographic Diversification 229 Limited versus Extensive International Diversification 229 Geographic Diversification and Firm Performance 229 Combining Product and Geographic Diversification 230 A Comprehensive Model of Diversification 231 Industry-Based Considerations 231 Resource-Based Considerations 232 Institution-Based Considerations 234 The Evolution of the Scope of the Firm 235 Acquisitions 238 Setting the Terms Straight 238 Motives for Mergers and Acquisitions 239 Performance of Mergers and Acquisitions 240 Strategy in Action 9.2: GE-Alstom: A Deal Too Far? 241 Strategy in Action 9.3: Can Mergers of Equals Work? 242 Debates and Extensions 243 Debate 1: Product Relatedness versus Other Forms of Relatedness 243 Debate 2: Old-Line versus New-Age Conglomerates 244 Debate 3: High Road versus Low Road in Integration 245 Debate 4: Acquisitions versus Alliances 246 The Savvy Strategist 246 Chapter Summary 248 Key Terms 248 Critical Discussion Questions 248 Topics for Expanded Projects 249
Contents ix Closing Case: Puzzles Behind Emerging Multinationals’ Acquisitions 249 Notes 250 CHAPTER 10 STRATEGIZING, STRUCTURING, AND INNOVATING AROUND THE WORLD 254 Opening Case: Launching the McWrap 255 Multinational Strategies and Structures 256 Pressures for Cost Reduction and Local Responsiveness 256 Four Strategic Choices 257 Strategy in Action 10.1: KFC Leverages Artificial Intelligence in China 259 Four Organizational Structures 260 The Reciprocal Relationship between Multinational Strategy and Structure 262 A Comprehensive Model of Multinational Strategy, Structure, and Innovation 262 Industry-Based Considerations 263 Resource-Based Considerations 264 Institution-Based Considerations 265 Strategy in Action 10.2: Canadian Apotex, Indian Production, and EU, UK, and US Regulations 265 Strategy in Action 10.3: Moving Headquarters 267 Worldwide Learning, Innovation, and Knowledge Management 269 Knowledge Management 269 Knowledge Management in Four Types of Multinational Enterprises 269 Globalizing Research and Development 271 Problems and Solutions in Knowledge Management 272 Debates and Extensions 273 Debate 1: Headquarters Control versus Subsidiary Initiative 273 Debate 2: Customer-Focused Dimensions versus Integration, Responsiveness, and Learning 273 The Savvy Strategist 274 Chapter Summary 275 Key Terms 276 Critical Discussion Questions 276 Topics for Expanded Projects 276 Closing Case: Subsidiary Initiative at Schenck Shanghai Machinery 277 Notes 278 CHAPTER 11 GOVERNING THE CORPORATION GLOBALLY 282 Opening Case: The Murdochs versus Minority Shareholders 283
Owners 284 Concentrated versus Diffused Ownership 284 Family Ownership 285 State Ownership 285 Managers 286 Principal-Agent Conflicts 286 Principal-Principal Conflicts 287 Board of Directors 288 Board Composition 288 Strategy in Action 11.1: The Debate about Independent Directors in China 289 Leadership Structure 290 Board Interlocks 290 The Role of Boards of Directors 290 Strategy in Action 11.2: Professor Michael Jensen as an Outside Director 291 Directing Strategically 291 Governance Mechanisms as a Package 292 Internal (Voice-Based) Governance Mechanisms 292 External (Exit-Based) Governance Mechanisms 293 Internal Mechanisms + External Mechanisms = Governance Package 294 A Global Perspective 294 Strategy in Action 11.3: Global Competition in How to Best Govern Large Firms 296 A Comprehensive Model of Corporate Governance 297 Industry-Based Considerations 297 Resource-Based Considerations 298 Institution-Based Considerations 298 Debates and Extensions 300 Debate 1: Opportunistic Agents versus Managerial Stewards 300 Debate 2: Global Convergence versus Divergence 301 Debate 3: Value versus Stigma of Multiple Directorships 301 Debate 4: State Ownership versus Private Ownership 302 The Savvy Strategist 304 Chapter Summary 305 Key Terms 305 Critical Discussion Questions 306 Topics for Expanded Projects 306 Closing Case: The Private Equity Challenge 306 Notes 308 CHAPTER 12 STRATEGIZING ON CORPORATE SOCIAL RESPONSIBILITY 314 Opening Case: Starbucks’s Corporate Social Responsibility Journey 315
x Contents A Stakeholder View of the Firm 317 A Big Picture Perspective 317 Strategy in Action 12.1: Global Warming and Arctic Boom 318 Stakeholder Groups, Triple Bottom Line, and ESG 319 A Fundamental Debate 320 A Comprehensive Model of Corporate Social Responsibility 322 Strategy in Action 12.2: Giants of the Sea 323 Industry-Based Considerations 323 Resource-Based Considerations 325 Strategy in Action 12.3: Can McDonald’s Set the Chickens Cage-Free? 326 The CSR-Economic Performance Puzzle 326 Institution-Based Considerations 327 Debates and Extensions 330 Debate 1: Reducing versus Contributing toward Income Inequality 330 Debate 2: Domestic versus Overseas Social Responsibility 331 Debate 3: Active versus Inactive CSR Engagement Overseas 332 Debate 4: Race to the Bottom (“Pollution Haven”) versus Race to the Top 332 The Savvy Strategist 333 Chapter Summary 334 Key Terms 335 Critical Discussion Questions 335 Topics For Expanded Projects 335 Closing Case: The Ebola Challenge 336 Notes 337 p a r t 4 Integrative Cases IC 8 The Final Frontier of Outsourcing to India (by A. P. Krishnan) 367 IC 9 Volkswagen’s Emissions Scandal (by B. E. Coates) 372 IC10 Private Military Companies (by Μ. W. Peng) 375 1C 11 Snowsports Interactive: A Global Start-Up’s Challenges (by M. L. Taylor, X. Yang, and D. Mardiasmo) 379 IC 12 Business Jet Makers Eye China (by Μ. W. Peng) 384 IC 13 Carlsberg in Russia (by Μ. W. Peng) 386 IC 14 Enter North America by Bus (by Μ. W. Peng) 388 IC 15 EtihadAirways’AllianceNetwork (by Μ. W. Peng) 390 IC 16 Jobek do Brasil’s Joint Venture Challenges (by D. Μ. Boehe
and L. B. Cruz) 392 IC 17 Saudi Arabia in OPEC: Price Leader in a Cartel (by Μ. W. Peng) 398 IC 18 AGRANA: From a Local Supplier to a Global Player (by Μ. Hasenhüttl and E. PleggenkuhleMiles) 402 IC 19 Nomura’s Integration of Lehman Brothers (by Μ. W. Peng) 407 IC 20 Cyberattack on TNT Express and Impact on Parent Company FedEx (by W. E. Hefley) 409 IC 1 The Consulting Industry (by M. W. Peng) 342 IC 21 Shanghai Disneyland (by Μ. W. Peng) 414 IC 2 The Asia Pacific Airline Industry (by M. W. Peng) 346 IC 22 Samsung’s Global Strategy Group (by Μ. W. Peng) 417 IC 3 LEGO’s Secrets (by M. W. Peng) IC 23 Corporate Governance the HP Way (by Μ. W. Peng) 419 IC 4 IC 5 BMW at 100 (by K. Meyer) 349 351 Occidental Petroleum (Oxy): From Also-Ran to Segment Leader (by C. F. Hazzard) 355 IC 6 Tesla’s CEO Quits Presidential Councils (byY. H.Jung) 360 IC 7 Legalization of Ride-Hailing in China (by Y. Li) 362 IC 24 When CSR Is Mandated by the Government in India (by N. Kathuria) 422 IC 25 WolfWars (by Μ. W. Peng) Glossary 426 Index of Names 438 Index of Organizations Index of Subjects 454 424 451
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Contents List of In-Chapter Features and Integrative Cases xi Preface xv About the Author xx PART 1 Foundations of Global Strategy CHAPTER 1 STRATEGIZING AROUND THE GLOBE 2 Opening Case: Zoom 3 Why Study Global Strategy? 5 What Is Strategy? 6 Origin 6 Plan versus Action 6 Strategy as Theory 7 Strategy in Action 1.1: German and French Military Strategies in 1914 7 Strategy in Action 1.2: Selling Star Wars to LEGO Top Management 10 Strategy, Strategist, and Strategic Leadership 11 Fundamental Questions in Strategy 12 Why Do Firms Differ? 12 How Do Firms Behave? 14 What Determines the Scope of the Firm? 15 What Determines the Success and Failure of Firms Around the Globe? 15 Strategy in Action 1.3: Confessions of Your Textbook Author 16 What is Global Strategy? 17 Globalization and Semiglobalization 17 What Is Globalization? 17 The Swing of a Pendulum 18 Black Swan and Risk Management 19 Semiglobalization 20 Debates and Extensions 20 Debate 1: Globalization versus Deglobalization 20 Debate 2: Strategic versus Nonstrategic Industries 22 Debate 3: Just-in-Time versus Just-in-Case Management 22 Fostering Critical Strategic Thinking Through Debates 23 Organization of the Book 23 Chapter Summary 24 Key Terms 24 Critical Discussion Questions 24 Topics for Expanded Projects 25 Closing Case: Two Scenarios of the Global Economy in 2050 25 Notes 27 CHAPTER 2 MANAGING INDUSTRY COMPETITION 32 Opening Case: Global Competition in the Cruise Industry 33 Defining Industry Competition 35 The Five Forces Framework 35 From Economics to Strategy 35 Rivalry among Competitors 37 Threat of Entrants
37 Strategy in Action 2.1: High Fashion Fights Recession 38 Bargaining Power of Suppliers 40 Bargaining Power of Buyers 40 Threat of Substitutes 41 Lessons from the Five Forces Framework 41 Strategy in Action 2.2: Digital Strategy and Five Forces 42 Three Generic Strategies 43 Cost Leadership 43 Differentiation 44 Focus 45 Lessons from the Three Generic Strategies 45 Debates and Extensions 45 Debate 1: Clear versus Blurred Definitions of Industry 46 Debate 2: Industry Rivalry versus Strategic Groups 46 Debate 3: Integration versus Outsourcing 47 Debate 4: Stuck in the Middle versus All-Rounder 48 Debate 5: Economies of Scale versus 3D Printing 48 Strategy in Action 2.3: Singapore Airlines Is Both a Differentiator and a Cost Leader 49 Debate 6: Industry-Specific versus FirmSpecific and Institution-Specific Determinants of Performance 50 Making Sense of the Debates 50 The Savvy Strategist 50 Chapter Summary 51 Key Terms 51 Critical Discussion Questions 52 Topics For Expanded Projects 52
ví Contents Closing Case: The Future of the Automobile Industry 52 Notes 54 CHAPTER З LEVERAGING RESOURCES AND CAPABILITIES 58 Opening Case: Canada Goose Flies High Understanding Resources and Capabilities 60 Resources, Capabilities, and the Value Chain 62 From SWOT to VRIO 65 The Question of Value 66 The Question of Rarity 66 The Question of Imitability 66 Strategy in Action 3.1: ASML 67 The Question of Organization 68 Strategy in Action 3.2: CIMC 69 Debates and Extensions 70 Debate 1: Firm-Specific versus Industry-Specific Determinants of Performance 71 Debate 2: Static Resources versus Dynamic Capabilities 71 Debate 3: Offshoring versus Nonoffshoring 72 Debate 4: Domestic Resources versus International (Cross-Border) Capabilities 74 Strategy in Action 3.3: Natura 75 The Savvy Stategist 76 Chapter Summary 77 Key Terms 77 Critical Discussion Questions 78 Topics For Expanded Projects 78 Closing Case: H-E-B Fights Coronavirus 78 Notes 80 chapter 4 The Strategic Role of Culture 94 The Definition of Culture 94 The Five Dimensions of Culture 95 Cultures and Strategic Choices 96 The Strategic Role of Ethics 97 The Definition and Impact of Ethics 97 Managing Ethics Overseas 98 Strategy in Action 4.2: Onsen and Tattoos in Japan 98 Ethics and Corruption 99 A Strategic Response Framework for Ethical Challenges 100 Strategy in Action 4.3: Monetizing the Maasai Tribal Name 101 Debates and Extensions 102 Debate 1: Opportunism versus Individualism/Collectivism 102 Debate 2: Cultural Distance versus Institutional Distance 103 Debate 3: Freedom of Speech versus Censorship on the Internet
104 The Savvy Strategist 105 Chapter Summary 106 Key Terms 106 Critical Discussion Questions 107 Topics For Expanded Projects 107 Closing Case: IKEA’s Challenge in Saudi Arabia 107 Notes 108 EMPHASIZING INSTITUTIONS, CULTURES, AND ETHICS 84 Opening Case: Brexit and Strategic Choices 85 Understanding Institutions 87 Definitions 87 What Do Institutions Do? 88 How Do Institutions Reduce Uncertainty? 88 An Institution-Based View of Business Strategy 90 Overview 90 Two Core Propositions 92 Strategy in Action 4.1: The American Guanxi Industry 93 Institutional Logics and Hybrid Organizations 94 59 PART 2 Business-Level Strategies CHAPTER 5 GROWING AND INTERNATIONA LIZING THE ENTREPRENEURIAL FIRM 114 Opening Case: The New East India Company 115 Entrepreneurship and Entrepreneurial Firms 116 A Comprehensive Model of Entrepreneurship 117 Industry-Based Considerations 118 Resource-Based Considerations 119 Institution-Based Considerations 120 Strategy in Action 5.1: Europe’s Entrepreneurship Deficit 120 Five Entrepreneurial Strategies 121 Growth 122 Strategy in Action 5.2: Tory Burch’s Rise in the Fashion Industry 122 Innovation 123 Network 123 Financing and Governance 124 Harvest and Exit 125
Contents vii Internationalizing the Entrepreneurial Firm 126 International Strategies for Entering Foreign Markets 126 International Strategies for Staying in Domestic Markets 127 Debates and Extensions 128 Debate 1: Traits versus Institutions 128 Debate 2: Slow Internationalizers versus Born Global Start-ups 128 Strategy in Action 5.3: Immigrant Entrepreneurs 129 Debate 3: High-Growth Entrepreneurship versus Ethically Questionable Behavior 130 The Savvy Entrepreneur 131 Chapter Summary 132 Key Terms 132 Critical Discussion Questions 132 Topics For Expanded Projects 133 Closing Case: Boom in Busts: Good or Bad? 133 Notes 134 CHAPTER 6 ENTERING FOREIGN MARKETS 140 Opening Case: Amazon Enters India 141 Overcoming Liability of Foreignness 143 Understanding the Propensity to Internationalize 143 Strategy in Action 6.1 Nordic Multinationals 144 A Comprehensive Model of Foreign Market Entries 145 Industry-Based Considerations 145 Resource-Based Considerations 146 Institution-Based Considerations 147 Where to Enter? 148 Location-Specific Advantages and Strategic Goals 148 Cultural and Institutional Distances and Foreign Entry Locations 150 When to Enter? 150 How to Enter? 152 Scale of Entry: Commitment and Experience 152 Modes of Entry: The First Step on Equity versus Nonequity Modes 152 Modes of Entry: The Second Step in Making Actual Selections 155 Strategy in Action 6.1: Thai Union’s Foreign Market Entries 157 Debates and Extensions 157 Debate 1: Liability versus Asset of Foreignness 157 Debate 2: Old-Line versus Emerging Multinationals: OLI versus LLL 158 Debate 3: Global
versus Regional Geographic Diversification 159 Debate 4: Contractual versus Noncontractual Approaches of Entry 159 Strategy in Action 6.3: Goldman Sachs Enters Libya 160 The Savvy Strategist 161 Chapter Summary 162 Key Terms 162 Critical Discussion Questions 162 Topics For Expanded Projects 163 Closing Case: How Firms from Emerging Economies Fight Back 163 Notes 164 CHAPTER 7 MAKING STRATEGIC ALLIANCES AND NETWORKS WORK 168 Opening Case: Even Toyota Needs Friends 169 Defining Strategic Alliances and Networks 170 A Comprehensive Model of Strategic Alliances and Networks 171 Industry-Based Considerations 171 Resource-Based Considerations 172 Rarity 173 Imitability 174 Organization 174 Institution-Based Considerations 175 Formation 176 Stage One: To Cooperate or Not to Cooperate? 176 Stage Two: Contractual or Equity Modes? 176 Stage Three: How to Position the Relationship? 177 Strategy in Action 7.1: Delta Spreads Its Wings Globally 178 Evolution 178 Combating Opportunism 178 Evolving from Strong Ties to Weak Ties 179 From Corporate Marriage to Divorce 180 Strategy in Action 7.2: Yum Brands, McDonald’s, and Sinopec 181 Performance 182 The Performance of Strategic Alliances and Networks 182 The Performance of Parent Firms 183 Debates and Extensions 184 Debate 1: Majority JVs as Control Mechanisms versus Minority JVs as Real Options 184 Debate 2: Alliances versus Acquisitions 184
viii Contents Debate 3: Acquiring versus Not Acquiring Alliance Partners 185 Strategy in Action 7.3: Renaussanbishi: No Way! 186 The Savvy Strategist 187 Chapter Summary 188 Key Terms 188 Critical Discussion Questions 189 Topics For Expanded Projects 189 Closing Case: Fiat Chrysler: From Alliance to Acquisition 189 Notes 190 CHAPTER 8 MANAGING COMPETITIVE DYNAMICS 194 Opening Case: Jetstar’s Rise in the Asia Pacific 195 Strategy as Action 196 Industry-Based Considerations 198 Collusion and Prisoner’s Dilemma 198 Industry Characteristics and Collusion vis-à-vis Competition 198 Strategy in Action 8.1: The Global Vitamin Cartel 200 Resource-Based Considerations 201 Value 201 Rarity 202 Imitability 202 Organization 202 Resource Similarity 202 Competitor Analysis 202 Strategy in Action 8.2: Alibaba versus Amazon 204 Institution-Based Considerations 205 Formal Institutions Governing Domestic Competition: A Focus on Antitrust 205 Formal Institutions Governing International Competition: A Focus on Antidumping 207 Attack and Counterattack 208 Three Main Types of Attack 208 Awareness, Motivation, and Capability 210 Cooperation and Signaling 211 Debates and Extensions 211 Debate 1: Strategy versus Antitrust Policy *211 Debate 2: Competition versus Antidumping 213 Strategy in Action 8.3: Brussels versus Google 214 The Savvy Strategist 215 Chapter Summary 216 Key Terms 216 Critical Discussion Questions 217 Topics for Extended Projects 217 Closing Case: Is There an Antitrust Case Against Big Tech? 217 Notes 219 part 3 Corporate-Level Strategies CHAPTER 9 DIVERSIFYING AND MANAGING
ACQUISITIONS GLOBALLY 224 Opening Case: The Growth of Marriott International 225 Product Diversification 227 Product-Related Diversification 227 Product-Unrelated Diversification 227 Strategy in Action 9.1: Starbucks Diversifies into Tea 227 Product Diversification and Firm Performance 228 Geographic Diversification 229 Limited versus Extensive International Diversification 229 Geographic Diversification and Firm Performance 229 Combining Product and Geographic Diversification 230 A Comprehensive Model of Diversification 231 Industry-Based Considerations 231 Resource-Based Considerations 232 Institution-Based Considerations 234 The Evolution of the Scope of the Firm 235 Acquisitions 238 Setting the Terms Straight 238 Motives for Mergers and Acquisitions 239 Performance of Mergers and Acquisitions 240 Strategy in Action 9.2: GE-Alstom: A Deal Too Far? 241 Strategy in Action 9.3: Can Mergers of Equals Work? 242 Debates and Extensions 243 Debate 1: Product Relatedness versus Other Forms of Relatedness 243 Debate 2: Old-Line versus New-Age Conglomerates 244 Debate 3: High Road versus Low Road in Integration 245 Debate 4: Acquisitions versus Alliances 246 The Savvy Strategist 246 Chapter Summary 248 Key Terms 248 Critical Discussion Questions 248 Topics for Expanded Projects 249
Contents ix Closing Case: Puzzles Behind Emerging Multinationals’ Acquisitions 249 Notes 250 CHAPTER 10 STRATEGIZING, STRUCTURING, AND INNOVATING AROUND THE WORLD 254 Opening Case: Launching the McWrap 255 Multinational Strategies and Structures 256 Pressures for Cost Reduction and Local Responsiveness 256 Four Strategic Choices 257 Strategy in Action 10.1: KFC Leverages Artificial Intelligence in China 259 Four Organizational Structures 260 The Reciprocal Relationship between Multinational Strategy and Structure 262 A Comprehensive Model of Multinational Strategy, Structure, and Innovation 262 Industry-Based Considerations 263 Resource-Based Considerations 264 Institution-Based Considerations 265 Strategy in Action 10.2: Canadian Apotex, Indian Production, and EU, UK, and US Regulations 265 Strategy in Action 10.3: Moving Headquarters 267 Worldwide Learning, Innovation, and Knowledge Management 269 Knowledge Management 269 Knowledge Management in Four Types of Multinational Enterprises 269 Globalizing Research and Development 271 Problems and Solutions in Knowledge Management 272 Debates and Extensions 273 Debate 1: Headquarters Control versus Subsidiary Initiative 273 Debate 2: Customer-Focused Dimensions versus Integration, Responsiveness, and Learning 273 The Savvy Strategist 274 Chapter Summary 275 Key Terms 276 Critical Discussion Questions 276 Topics for Expanded Projects 276 Closing Case: Subsidiary Initiative at Schenck Shanghai Machinery 277 Notes 278 CHAPTER 11 GOVERNING THE CORPORATION GLOBALLY 282 Opening Case: The Murdochs versus Minority Shareholders 283
Owners 284 Concentrated versus Diffused Ownership 284 Family Ownership 285 State Ownership 285 Managers 286 Principal-Agent Conflicts 286 Principal-Principal Conflicts 287 Board of Directors 288 Board Composition 288 Strategy in Action 11.1: The Debate about Independent Directors in China 289 Leadership Structure 290 Board Interlocks 290 The Role of Boards of Directors 290 Strategy in Action 11.2: Professor Michael Jensen as an Outside Director 291 Directing Strategically 291 Governance Mechanisms as a Package 292 Internal (Voice-Based) Governance Mechanisms 292 External (Exit-Based) Governance Mechanisms 293 Internal Mechanisms + External Mechanisms = Governance Package 294 A Global Perspective 294 Strategy in Action 11.3: Global Competition in How to Best Govern Large Firms 296 A Comprehensive Model of Corporate Governance 297 Industry-Based Considerations 297 Resource-Based Considerations 298 Institution-Based Considerations 298 Debates and Extensions 300 Debate 1: Opportunistic Agents versus Managerial Stewards 300 Debate 2: Global Convergence versus Divergence 301 Debate 3: Value versus Stigma of Multiple Directorships 301 Debate 4: State Ownership versus Private Ownership 302 The Savvy Strategist 304 Chapter Summary 305 Key Terms 305 Critical Discussion Questions 306 Topics for Expanded Projects 306 Closing Case: The Private Equity Challenge 306 Notes 308 CHAPTER 12 STRATEGIZING ON CORPORATE SOCIAL RESPONSIBILITY 314 Opening Case: Starbucks’s Corporate Social Responsibility Journey 315
x Contents A Stakeholder View of the Firm 317 A Big Picture Perspective 317 Strategy in Action 12.1: Global Warming and Arctic Boom 318 Stakeholder Groups, Triple Bottom Line, and ESG 319 A Fundamental Debate 320 A Comprehensive Model of Corporate Social Responsibility 322 Strategy in Action 12.2: Giants of the Sea 323 Industry-Based Considerations 323 Resource-Based Considerations 325 Strategy in Action 12.3: Can McDonald’s Set the Chickens Cage-Free? 326 The CSR-Economic Performance Puzzle 326 Institution-Based Considerations 327 Debates and Extensions 330 Debate 1: Reducing versus Contributing toward Income Inequality 330 Debate 2: Domestic versus Overseas Social Responsibility 331 Debate 3: Active versus Inactive CSR Engagement Overseas 332 Debate 4: Race to the Bottom (“Pollution Haven”) versus Race to the Top 332 The Savvy Strategist 333 Chapter Summary 334 Key Terms 335 Critical Discussion Questions 335 Topics For Expanded Projects 335 Closing Case: The Ebola Challenge 336 Notes 337 p a r t 4 Integrative Cases IC 8 The Final Frontier of Outsourcing to India (by A. P. Krishnan) 367 IC 9 Volkswagen’s Emissions Scandal (by B. E. Coates) 372 IC10 Private Military Companies (by Μ. W. Peng) 375 1C 11 Snowsports Interactive: A Global Start-Up’s Challenges (by M. L. Taylor, X. Yang, and D. Mardiasmo) 379 IC 12 Business Jet Makers Eye China (by Μ. W. Peng) 384 IC 13 Carlsberg in Russia (by Μ. W. Peng) 386 IC 14 Enter North America by Bus (by Μ. W. Peng) 388 IC 15 EtihadAirways’AllianceNetwork (by Μ. W. Peng) 390 IC 16 Jobek do Brasil’s Joint Venture Challenges (by D. Μ. Boehe
and L. B. Cruz) 392 IC 17 Saudi Arabia in OPEC: Price Leader in a Cartel (by Μ. W. Peng) 398 IC 18 AGRANA: From a Local Supplier to a Global Player (by Μ. Hasenhüttl and E. PleggenkuhleMiles) 402 IC 19 Nomura’s Integration of Lehman Brothers (by Μ. W. Peng) 407 IC 20 Cyberattack on TNT Express and Impact on Parent Company FedEx (by W. E. Hefley) 409 IC 1 The Consulting Industry (by M. W. Peng) 342 IC 21 Shanghai Disneyland (by Μ. W. Peng) 414 IC 2 The Asia Pacific Airline Industry (by M. W. Peng) 346 IC 22 Samsung’s Global Strategy Group (by Μ. W. Peng) 417 IC 3 LEGO’s Secrets (by M. W. Peng) IC 23 Corporate Governance the HP Way (by Μ. W. Peng) 419 IC 4 IC 5 BMW at 100 (by K. Meyer) 349 351 Occidental Petroleum (Oxy): From Also-Ran to Segment Leader (by C. F. Hazzard) 355 IC 6 Tesla’s CEO Quits Presidential Councils (byY. H.Jung) 360 IC 7 Legalization of Ride-Hailing in China (by Y. Li) 362 IC 24 When CSR Is Mandated by the Government in India (by N. Kathuria) 422 IC 25 WolfWars (by Μ. W. Peng) Glossary 426 Index of Names 438 Index of Organizations Index of Subjects 454 424 451 |
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| id | DE-604.BV047194875 |
| illustrated | Illustrated |
| index_date | 2024-07-03T16:49:22Z |
| indexdate | 2024-07-10T09:05:17Z |
| institution | BVB |
| isbn | 9780357512364 |
| language | English |
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| physical | xx, 460 Seiten Illustrationen, Diagramme |
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| spelling | Peng, Mike W. 1968- Verfasser (DE-588)1015236960 aut Global strategy Mike W. Peng Fifth edition Boston, MA Cengage [2022] © 2022 xx, 460 Seiten Illustrationen, Diagramme txt rdacontent n rdamedia nc rdacarrier Includes bibliographical references and index Strategisches Management (DE-588)4124261-0 gnd rswk-swf Internationales Management (DE-588)4114040-0 gnd rswk-swf Strategisches Management (DE-588)4124261-0 s Internationales Management (DE-588)4114040-0 s DE-604 Digitalisierung UB Passau - ADAM Catalogue Enrichment application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=032599998&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Peng, Mike W. 1968- Global strategy Strategisches Management (DE-588)4124261-0 gnd Internationales Management (DE-588)4114040-0 gnd |
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| title | Global strategy |
| title_auth | Global strategy |
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| title_full | Global strategy Mike W. Peng |
| title_fullStr | Global strategy Mike W. Peng |
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| title_short | Global strategy |
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| topic | Strategisches Management (DE-588)4124261-0 gnd Internationales Management (DE-588)4114040-0 gnd |
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