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30 Cards in this Set
- Front
- Back
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What are the three views of globalization |
1. A new force sweeping through the world in recent terms 2. A long-run historical evolution since the dawn of human history 3. A pendulum that swings from one extreme to another from time to time |
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What is IO? |
Industrial organization |
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What is industry based view? |
Focus on competition between firms, the barriers to entry and bargaining power |
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SCP? |
Structure Conduct Performance |
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Fives forces |
Bargaining power of buyers Bargaining power of suppliers Threat of new entrants Threat of substitutes Intensity of the Rivalry |
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Three generic strategies? |
Cost Leadership Differentiation Focus: When your target customer segment is small, often for higher end products |
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Advantages of cost Leadership |
Large customer segment |
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Disadvantages of cost leadership |
Customers may perceive a cost leader product as being a lower quality May lead to ethical issues, poor working conditions |
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Industry based view |
Does not consider "the rules of the game" |
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Captive Sourcing |
Setting up subsidiaries to perform in house work in foreign locations |
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VRIO what does it stand for? |
Value: does the resource create value for firm Rarity: can you provide an advantage over other companies Imitability: can not be mocked like value and rarity can be Organizational: how well the group works with others |
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Strategic Ambidexterity |
Managing Market and Governmental Forces |
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Tacit knowledge |
Cannot be documented well known knowledge that betters the company but is intangible |
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Institution based view |
Rules of the game |
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What are the three pillars |
Regulatory- formal Normative- informal Cognitive- informal |
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Informal vs Formal |
Informal: norms cultures ethics Formal: laws regulations rules |
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What do institutions do? |
Reduce uncertainty |
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How do they reduce uncertainty |
Reduce opportunism that causes uncertainty |
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4 dimensions of Porter's diamond model What other criticisms do we get from this model |
1. Country factor endowments 2. Related and supporting industries 3. Domestic demand conditions 4. Firm strategy, structure and rivalry Double diamond model |
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Hofstede framework |
Individualism Collectivism Masculinity Feminity Power distance |
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Ethical relativism |
Ethical standard vary from culture to culture |
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Ethical cultural imperialism |
Belief that one's set of ethics should be practiced in all countries |
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SME how is it defined |
Small and medium entrepreneurship |
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Entrepreneurship |
The identification and exploration of previously unexplored opportunities |
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Five entrepreneraurial strategies |
Growth Innovation Network Financing and government Harvest and exit |
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Opportunism? Is it good or bad |
Opportunism creates uncertainty |
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Microfinance |
A type of investing given to people in developing counties primarily used to help with the development of business. The amounts lent are often very small |
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What is OLI and LLL? |
Ownership location internalization Learning linkage leverage |
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First mover advantages/disadvantage |
People know your name and use it Have to spend more money to get your name out |
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Late movers advantages and disadvantages |
Advantages: better understanding of the product Disadvantage: your not as well know and have to spend more on stuff |
