Leren van de stof

Profitable = 20st century Sustainable = 21st century

1. BP foster firms development, due to the crease descision speed and efficient resource utilization.
2. BP prevents dedicating time to activities to firms development and resource utilization.

It fosters the identification of effective steps to reach that goal.

<p>to cognitive rigidities, organizational inertia and limited strategic flexibility.</p> Signup and view all the answers

<ol> <li>Should because it helps with funding, communication and speeding up.</li> <li>Shouldn't because of resource limitations and the fact that you don't know the market yet.</li> </ol> Signup and view all the answers

<p>The evidence based approach helps overcome limitations of individual findings and narrative reviews. These are for example biases, mistakes and stereotypes.</p> Signup and view all the answers

<p>A meta-analysis is a statistical method that combines the results of multiple studies to assess overall effect sizes and directions, offering greater statistical power and accounting for variations across studies. It reduces bias, enhances accuracy, and provides insights for future research.</p> Signup and view all the answers

<ol> <li>High uncertainty and missing information</li> <li>High uncertainty avoidance (UA).</li> </ol> Signup and view all the answers

<p>In the initial years of the firms.</p> Signup and view all the answers

<ol> <li>mental perception</li> <li>willingness to adjust BPs</li> </ol> Signup and view all the answers

<ul> <li>Causation is managerial thinking: selecting between given means to achieve a pre-determined goal</li> <li>Effectuation is entrepreneurial thinking: imagining a possible new and using a given set of means.</li> </ul> Signup and view all the answers

<ol> <li>Bird in the hand: focussing an the given means</li> <li>Affordable loss: focussing on what you are willing to lose</li> <li>Lemonade: not only work with surprises but take advantages of them (lemons -&gt; lemonade)</li> <li>Crazy quilt: focus on building partnerships rather than beating competitors</li> <li>Pilot on the plane: focus on the controllable aspects in your environment</li> </ol> Signup and view all the answers

<p>Old: Process theory of internationalization (PTI): internationalization as a process in which firms incrementally increase their international involvement. New: International new venture theory (INV): Specific new ventures do not follow incremental internationalization patterns</p> Signup and view all the answers

<p>Experience, learning and knowledge. In the PTI they are constraining factors but in the INV they are the enablers for early internationalization.</p> Signup and view all the answers

<ul> <li>Managers should take a long term view of internationalization</li> <li>Managers should develop capabilities for managing complexity</li> </ul> Signup and view all the answers

<p>The S-curve hypothesis shows that a firm's performance during internationalization goes through three phases:</p> <p>Phase 1: Initial costs are high, and performance drops. Phase 2: As experience grows, benefits outweigh costs, and performance improves. Phase 3: Increased complexity raises costs again, reducing performance.</p> Signup and view all the answers

<ul> <li>Acquisition: Full or partial purchase of an existing firm’s equity</li> <li>Greenfield investment: Firm builds a new subsidiary from scratch</li> </ul> Signup and view all the answers

<p>VRIN framework: Resources have to be valuable, rare, inimitable, and non-substitutable to provide a sustainable competitive advantage (Barney, 1991)</p> <p>VRIN framework: Resources have to be valuable, rare, inimitable, and non-substitutable to provide a sustainable competitive advantage (Barney, 1991)</p> <ul> <li>VALUABLE: exploit opportunities and neutralize threads</li> <li>RARE: not widely held among competitors (e.g., patents, specialized HR, reputable brand, etc.)</li> <li>INIMITABLE: not easily replicable / obtainable by competitors (e.g., complexity)</li> <li>NON-SUBSTITUTABLE: no equivalent resources available to competitors (e.g., experience)</li> </ul> Signup and view all the answers

<p>Knowledge-based resources &amp; experience-based resources</p> Signup and view all the answers

<p>Cultural distance (CD) between home country and host country prevents the flow of information between markets</p> Signup and view all the answers

<ol> <li>Pooled interdependence: Different units work independently, but their outputs contribute to the overall goal.</li> <li>Sequential interdependence: Tasks are performed in a specific order, where each step depends on the completion of the previous one.</li> <li>Reciprocal interdependence: Activities rely on a back-and-forth exchange, with each step influencing and being influenced by others.</li> </ol> Signup and view all the answers

<p>common ground represents an instance in which some degree of knowledge overlap helps with the acquisition of non-overlapping knowledge and capability.</p> Signup and view all the answers

<p>to the property that says that the value of performing one activity depends on how another activity is performed.</p> Signup and view all the answers

<p>Developing common ground reconciles the dilemma of structural integration versus providing autonomy?</p> Signup and view all the answers

<ol> <li>R&amp;D (research and development) has a cost</li> <li>Pioneering may have its disadvantages</li> <li>(the suggestion of) imitation at favorable prices</li> <li>The lack of complementary assets: the PFI framework</li> </ol> Signup and view all the answers

<p>If a particular innovation, or the knowledge on which it rests, can be completely “appropriated” it means that no one else can use it or copy it</p> Signup and view all the answers

<p>When the appropriability regime is strong and the complementary assets are tightly held.</p> Signup and view all the answers

<ol> <li>Patents – Protecting innovation by disclosing technical details while limiting imitation.</li> <li>Secrecy – Keeping R&amp;D details confidential to maintain a technological edge.</li> <li>Lead time – Gaining a competitive advantage by being faster to market with innovations.</li> <li>Investing in complementary assets – Leveraging specialized manufacturing, sales, or service capabilities to enhance innovation outcomes.</li> </ol> Signup and view all the answers

<ol> <li>Institutional environment</li> <li>Industry</li> <li>Firm</li> <li>Technology</li> </ol> Signup and view all the answers

<p>Formal IP protection relies on legal rights like patents and trademarks to protect innovations, while informal IP protection uses strategies like trade secrets, complexity, or lead-time advantages to prevent copying without legal registration.</p> Signup and view all the answers

<p>The Open Innovation Paradigm by Chesbrough (2007) shows that research projects can move inside or outside a firm's boundaries, with some targeting the current market and others reaching new markets. It highlights the use of external ideas and collaborations to drive innovation.</p> Signup and view all the answers

<ul> <li>Incremental innovations only offer minor improvements for markets;</li> <li>Radical innovation implies the creation of advanced, distant knowledge;</li> </ul> Signup and view all the answers

<p>Search breadth refers to the extent to which a firm looks for innovation ideas from a wide range of external sources, while search depth refers to how deeply a firm engages with these external sources to gather and implement innovative solutions.</p> Signup and view all the answers

<p>Persistance</p> Signup and view all the answers

<p>Stakeholder = Individual, group, or organization that has direct or indirect stake in an organization because they can affect or be affected by the organization's actions, objectives, and policies.</p> Signup and view all the answers

<p>Shareholder = Individuals or institutions (including corporations) that legally own any part of a share of stock in a public or private corporation.</p> Signup and view all the answers

<p>Primary goal of a firm is profit maximization, not spending shareholder money for general societal interest.</p> Signup and view all the answers

<ul> <li>Challenges the conventional market capitalist view of the firm.</li> <li>Firms cannot maximize (discounted) value if they ignore the interests of their stakeholders.</li> <li>Firms rely on the contribution of a much wider set of constituents (besides its shareholders).</li> <li>Firms need to take the interests of these stakeholders (including shareholders) into account to ensure sustainable profitability and survival.</li> </ul> Signup and view all the answers

<p>The neoclassical view sees the firm as a &quot;nexus of contracts,&quot; where the firm is a legal entity that enters into various contracts (e.g., labor, supply, customer, and finance contracts) with different parties.</p> Signup and view all the answers

<ol> <li>Descriptive: to what extent managers do in fact attend to various stakeholders and act in accordance with their interests?</li> <li>Normative: explores whether managers ought to attend to stakeholders other than shareholders, and if so, on what grounds these various stakeholders have justifiable claims on the firm?</li> <li>Instrumental: delineates and investigates the consequences that follow from attending to a range of stakeholders</li> </ol> Signup and view all the answers

<p>Misappropriation occurs when managers divert corporate resources away from their rightful claimants, such as the firm's owners or employees. Misallocation, on the other hand, happens when managers use resources inefficiently, assigning them to purposes for which they are poorly suited.</p> Signup and view all the answers

<ul> <li>Employee dignity and self-efficacy (Shklar, 1991; Hodson, 2001)</li> <li>Principles of fairness and reciprocity (Appelbaum, 1996; Philips, 2003)</li> <li>Fundamental rights (Donaldson and Preston, 1995)</li> <li>Respect for the intrinsic worth of human beings (Donaldson and Dunfee, 1999)</li> </ul> Signup and view all the answers

<ol> <li>Invalidation;</li> <li>Reconciliation</li> </ol> Signup and view all the answers

<ol> <li>Appraising the stimuli: Which social ills garner attention by which firms?;</li> <li>Generating response options: How do firms generate response options? (behavioral or cognitive approach)</li> <li>Evaluating options: what assessment criteria are applied to corporate efforts to ameliorate social ills?</li> <li>Implementation: How do firms implement responses to social misery? (e.g. equivocal, ambivalent or ambidextrous responses, or make, buy or ally)</li> <li>Consequences: How do corporate efforts to redress social misery actually affect their intended beneficiaries?</li> </ol> Signup and view all the answers

<p>• the problem (depth &amp; breadth) • the company (contribution, proximity, benefits) • the company’s relationship to the problem • the impact the company’s response would have (boundary conditions, permitted vs prohibited)</p> Signup and view all the answers

<p>Before rushing off to find the missing link between a firm’s social and financial performance, all in hopes of advancing the cause of social performance, we need to understand the conditions under which a corporation’s efforts benefit society.</p> Signup and view all the answers

<p>equivocal, ambivalent, ambidextrous</p> Signup and view all the answers

<p>that developing stakeholder relationships governed by the norms of traditional ethics –for example fairness, trustworthiness, loyalty, care, and respect- will lead to improved financial performance.</p> Signup and view all the answers

<p>The &quot;sunny side&quot; bias refers to the tendency to focus only on the positive aspects of ethical treatment of stakeholders</p> Signup and view all the answers

<p>Reciprocity</p> Signup and view all the answers

<ul> <li>…firms ultimately create value by distributing it (in various forms) to those stakeholders who behave fairly.</li> </ul> Signup and view all the answers

<ul> <li>Distributive: Fair share</li> <li>Procedural: Fair process</li> <li>Interactional: Fair enough</li> </ul> Signup and view all the answers

<ul> <li>A CSRE strategy is characterized by an intention to rely on relational contracts, joint wealth creation, high levels of mutual trust and cooperation, and communal sharing of property.</li> <li>An ALRE strategy is defined as a shared intention to relate to a stakeholders group based on the norms of arm’s length relationships.</li> </ul> Signup and view all the answers

<p>Rare</p> Signup and view all the answers

<p>Imitate, because:</p> <ul> <li>Path dependency</li> <li>Causal ambiguity</li> <li>Social dependency</li> </ul> Signup and view all the answers

<ol> <li>Technology based self-services</li> <li>Personal services</li> </ol> Signup and view all the answers

<p>Customers should derive the most value from personal service channels when tasks are complex and ambiguous, and from self-service channels when tasks are easy and repetitive.</p> Signup and view all the answers

<ol> <li>the individual characteristics and resources of the customer</li> <li>the resource requirements of the task</li> <li>the unique capabilities of the service channel.</li> </ol> Signup and view all the answers

<ul> <li>Complexity and ambiguity</li> </ul> Signup and view all the answers

<p>A self-monitor refers to a person who adjusts his/her behavior and mannerisms according to the codes of society and the people around her/him.</p> Signup and view all the answers

<ul> <li>When alone, customers prefer employees to fully take over the transaction after a failure.</li> <li>When other patrons are present or waiting in line, customers prefer the employee to correct the problem and let them finish the transaction.</li> <li>The presence of other customers in a self-service area can lead to self-monitoring behaviors and alter recovery strategies.</li> </ul> Signup and view all the answers

<p>Knowing the social environment helps employees provide the right support, reduces embarrassment for customers, and makes the recovery process better suited to the customer’s needs.</p> Signup and view all the answers

<p>It allows customers to choose the best way to fix the problem, helping them avoid feeling embarrassed and giving them a more personalized, smoother experience.</p> Signup and view all the answers

<p>The design can influence whether customers want employees to step in and help or if they prefer to fix the problem themselves.</p> Signup and view all the answers

<ol> <li>Risk reduction</li> <li>Revenue growth</li> <li>Leveraging core competencies</li> <li>Synergies</li> <li>Market power</li> <li>Responding to competition</li> <li>Utilizing excess resources</li> <li>Long-term stability</li> </ol> Signup and view all the answers

<ol> <li>Dilution of management focus</li> <li>Inefficiencies from operating in unfamiliar industries</li> <li>Potential loss of strategic coherence</li> </ol> Signup and view all the answers

<p>the degree to which an organization is matching its resources and capabilities with the opportunities in the external environment.</p> Signup and view all the answers

<ol> <li>The industry attractiveness test</li> <li>The cost-of-entry test</li> <li>The better-off test</li> </ol> Signup and view all the answers

<ol> <li>Acquisition,</li> <li>Internal development</li> <li>Joint venture</li> </ol> Signup and view all the answers

<ul> <li>This means that there is a technological similarity between the industries, which means that the firm is able to leverage its technical know-how gain some advantage.</li> <li>The company could seek new products that have technological or marketing synergies with existing product lines appealing to new group of customers.</li> </ul> Signup and view all the answers

<ul> <li>Involves diversifying into business with</li> <li>Approach is to venture into “any business in which we think we can make a profit”</li> </ul> Signup and view all the answers

<p>‘past relevant experience enables the firm to recognize and explicitly codify new knowledge into systems, routines, and procedures, that guide future actions’</p> Signup and view all the answers

<p>Inverted U Shape</p> Signup and view all the answers

<ul> <li>With services you have the opportunity to build a relationship with customers</li> <li>For product innovation</li> <li>Services is a way to update your products (cross-selling)</li> </ul> Signup and view all the answers

<ul> <li>Financial drivers</li> <li>Strategic drivers</li> <li>Marketing drivers</li> </ul> Signup and view all the answers

<p>.... and .... result in</p> Signup and view all the answers

<ol> <li>risk reduction</li> <li>financial synergies</li> <li>market power</li> </ol> Signup and view all the answers

<p>Arm length and the integrated relationship</p> Signup and view all the answers

<p>misallocation and misappropriation</p> Signup and view all the answers

<ol> <li>the nature and scope of the innovation</li> <li>the competitive environment</li> <li>the firms capacity to enforces the rights effectively</li> </ol> Signup and view all the answers

<ol> <li>development stage of the firm</li> <li>the form of business planning</li> <li>the cultural environment</li> </ol> Signup and view all the answers