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1.
This article contributes to the emerging demand-side perspective in strategy by explaining the demand-side sources of the systematic performance differences (a) between firms that diversify to offer complementary products and those who choose not to diversify, and (b) across and within diversifying firms over time. The US Telecommunications Services sector during 1990–1996 provides a dynamic research setting to test our hypotheses concerning the value-generating effect of shared demand-side strategic assets across the diversifying firms' home- and target-market. We find that the overall quality of demand-side strategic assets of local telephone companies who chose to diversify to offer complementary long-distance services (to their local telephony customers) is higher than those who chose not to diversify. We also find that the variation in market-shares of the diversified local telephone companies in their respective target market(s) for complementary long-distance services is positively influenced by the quality of demand-side strategic assets deployed in the target markets.  相似文献   

2.
This article analyses the determinants of bank internationalisation, of the world's largest banks from the period 1980–2007. The purpose of the article is twofold. First, we show how a mixed-methods research design, in which we combine a variables-based research with three case studies, can contribute to the field of business history. The variables-based research helps to detect general trends, but the statistical analysis alone only provides a limited understanding of the factors that drive the trends. By analysing selected case studies, we provide a context within which the statistical results are better understood. The second purpose is to understand trends in the internationalisation strategies of banks from different regions, and during different time periods. Contrasting with prior research, we find that Japanese and US banks have exhibited different internationalisation pattern as opposed to the European banks. Also, the determinants of bank internationalisation differ in importance over time. Using case studies, we show the importance of the changing regulatory environment.  相似文献   

3.
The Zobele, located in Trento, Northern Italy, was founded in 1919 by Enrico Zobele Sr., who became famous when he invented his first “killer product” in 1930—flypaper. After the Second World War, the bombed-out factory was rebuilt by his sons, Luigi and Fulvio, who introduced new products for home hygiene and home care. The company globalized under the joint leaderships of Chief Executive Enrico Jr., son of Luigi, and Franco and Giovanni, sons of Fulvio. In 2001, Zobele Chemical Industries reported sales of US$75 million with profits of US$5.1 million. The company had 700 employees, factories in Italy, Spain, Brazil, Paraguay, India, Hong Kong, Mexico, and Malaysia with continuing expansions in Italy and China. This is a case study of the Zobele family and Zobele Chemical Industries, their past history, and present status. It centers on the challenges they face in ensuring global leadership in their served market niches, while maintaining the continuity of family ownership and control. This case presents the practical implications for family enterprises in their attempts to meet the challenges of a globalized marketplace.  相似文献   

4.
《Business History》2012,54(2):199-217
The London office of the American J. Walter Thompson advertising agency was, and still is, one of Britain's most successful. The application of methodical, almost quasi-scientific, advertising planning was at the root of its success. While the Americans dominated London's inter-war activities, the post-war saw increasing assertion of British identity. This came to fruition in the late 1960s when in response to production problems London shrugged off Madison Avenue's ‘T-Square’ and replaced it with its own ‘T-plan’. The evidence for the article is mainly drawn from Thompson's archive and from trade sources.  相似文献   

5.
ABSTRACT

This study examines the long-run relationship between domestic saving and investment and undertakes an in-depth account of short-period breaks in the cointegrating vector for 24 OECD countries. The analysis is carried out in a time-series setting to take a country-by-country account of the evidence. The end-of-sample cointegration breakdown tests are performed on both FMOLS and FIML estimates of the model. The cointegrating relationship between domestic saving and investment prevails and the implied intertemporal budget constraint holds for most countries. The cointegration breaks down for some countries during the sub-sample periods. The results are generally consistent across various cointegration breakdown tests.  相似文献   

6.
The case study of the Zobele family and Zobele Chemical Industries, their past history, and present status was published in J. Bus. Venturing doi:10.1016/S0883-9026(03)00062-4. This teaching note centers on the challenges they face in ensuring global leadership in their served market niches, while maintaining the continuity of family ownership and control. This case presents the practical implications for family enterprises in their attempts to meet the challenges of a globalized marketplace.The Zobele, located in Trento, Northern Italy, was founded in 1919 by Enrico Zobele Sr., who became famous when he invented his first “killer product” in 1930—flypaper. After the Second World War, the bombed-out factory was rebuilt by his sons, Luigi and Fulvio, who introduced new products for home hygiene and home care. The company globalized under the joint leaderships of Chief Executive Enrico Jr., son of Luigi, and Franco and Giovanni, sons of Fulvio. In 2001, Zobele Chemical Industries reported sales of US$75 million with profits of US$5.1 million. The company had 700 employees, factories in Italy, Spain, Brazil, Paraguay, India, Hong Kong, Mexico, and Malaysia with continuing expansions in Italy and China.  相似文献   

7.
《Business History》2012,54(1):41-58
Recent work on business organisation has shown how a network based upon trade can evolve into a more widely embracing trade and financial network. A growing network may also engender leaders who intermediate to reduce communication costs. This paper provides an historically based variation on such hypothesised network structures by showing that trade and finance can exist together as part of a network from the outset. New Zealand pastoral agent firms recognised from very early on that regular trading transactions between agent and farmer generated trust, reputational effects, and mutual information exchange vital for successful lending and the provision of pastoral services. Agents, and sometimes other functional groups, served as intermediating leaders as the network grew in size and complexity.  相似文献   

8.
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10.
The objective of this paper is to examine to what extent different venture capital firms contribute to the likelihood that the portfolio company in which they invested will realize a trade sale. We use arguments from learning theory to hypothesize the relationship between vicarious, experiential and congenital learning of the venture capital (VC) firm and the trade sale hazard of its portfolio companies. Based on our analysis of 206 VC-backed UK start-ups, we find that both trade sale experience of the VC and learning from syndicate partners with trade sale experience significantly increase the trade sale hazard. The routines and procedures learned from experienced syndicate partners complement experience accumulated through trial and error. Congenital trade sale experience of the investment managers on the contrary has no significant influence on the acquisition hazard.  相似文献   

11.
12.
There is a need to understand how indigenous markets transform following foreign entry. We refer to this transformation as international market shaping—the progression of a set of cross-border activities that contribute to changes in economic exchange. Building on the markets-as-practice literature and an explorative longitudinal single-case study conducted in the St. Petersburg bread market (1997–2007), we study international market-shaping mechanisms that translate a foreign company’s idea of a market into market practices. We contribute to the literature by identifying four translation mechanisms of international market shaping: advice, demonstration, requirements, and management mobility.  相似文献   

13.
This article traces the developments in the market for residential mortgage-backed securities (MBS) during the period 1970–2008. Drawing on an analysis of trade publications, business press, and interviews with practitioners, it shows that an MBS market meltdown in 1994 provided clear signals of problems with MBS. The market participants did not re-evaluate their use of risk management tools or adjust security design in response to the 1994 crisis, suggesting a lack of understanding of the implications of the crisis. The 1994 meltdown showed that MBS were vulnerable to systematic risks and that these risks could precipitate an MBS market crash. Furthermore, the 1994 meltdown demonstrated that large-scale investment in MBS could affect the primary mortgage market, thereby rendering the MBS risks unpredictable. After 1994, MBS investment shifted to MBS backed by mortgages with default risk – a development that led to the crash of 2008. By drawing parallels between the 1994 and 2008 crises, this article shows how the MBS market failed to self-correct. The results suggest that financial market participants do not always incorporate relevant information in their decision-making and that market participants have difficulties in both foreseeing the effect of financial innovations on markets and interpreting these effects.  相似文献   

14.
This study focuses on the impact of the cultural dimension of individualism, face-to-face communication and the effect of relational norms such as supplier involvement and trust on the market performance of buyer firms. We use the culture literature and social exchange theory to test hypotheses using a sample of Brazilian and US manufacturing firms. The data were analyzed using variance-based structural equation modeling, employing nonlinear partial least squares regression. Our findings indicate that individualism is negatively related to the involvement of suppliers in the production process but is not associated with trust in suppliers. In addition face-to-face communication seems to have a positive effect on supplier involvement and trust.  相似文献   

15.
《Business History》2012,54(6):821-865
During c. 1810–59 over 260 British merchant houses operated in the River Plate or Chile, and many more in the rest of Latin America. These were times when Anglo-Latin American economic relations remained largely commercial, since the region was an important commercial partner of Britain. British investment was unimportant during this period in the region. The main economic activity of these mercantile houses was the import of textiles in exchange for bullion, specie, bills of exchange and local produce. Yet the textile trade has received little attention, despite the importance of the region as a market for British manufacturers. This paper describes in detail the relations between textile manufacturers and/or merchants in Britain and merchants on the spot, in particular for the marketing oftextiles, the backbone of the business of British merchants operating in Latin America. This paper focuses on the particular case of the Southern Cone during c. 1810–59.  相似文献   

16.
The study which follows explores the management of Sir George Gilbert Scott’s architectural practice, which was responsible for the very large output of over 1000 works across the Victorian period. The Scott practice has been seen by some as a predecessor of the modern, large-scale architectural office. Employing insights from Max Weber’s Protestant Ethic (PE), the article examines Scott’s motivation as an architect, the nature of his leadership and the detailed structuring and management of his office and of architectural projects. This is followed by a short case study relating to Scott’s rebuilding of Glasgow University from 1865–1870. Finally, there are some reflections on the article’s implications for further historical studies of businessmen and businesses from different periods through the lens of Weber’s PE.  相似文献   

17.
The impact of the deregulation of trading hours on trips to planned shopping centres is studied using the retail aggregate space-time trip (RASTT) model, where changes in consumer spatial behaviour are analysed at three malls in seven year periods (1980/82, 1988/89, 1996/98) in Sydney, Australia (The Sydney Project). After effective deregulation in 1992, the subsequent repeat samples in a hierarchy of shopping malls show significant structural change in only the afternoon samples at community and regional planned shopping centres. The results show a substantial increase in the attractiveness of planned shopping centres over traditional retail centres, where less consumers are shopping locally. There was a shift in spatial demand towards Sunday for ‘small centre’ behaviour and the appearance of high frequency regular trips to the regional planned centre. The RASTT model suggests that these changes in the structure of consumer behaviour are a result of moving the time boundary to seven days-a-week shopping at these centres. These structural changes may account for the on-going long term vacant shop problem that has manifested itself under shopping hour liberalisation in south east Australian, British and Canadian traditional retail hierarchies in the 1990s.  相似文献   

18.
The goal of this study was to introduce a model explaining how managers’ attitudes, subjective norms, attributions, and the individualism–collectivism cultural dimension affect the way managers’ deal with employee bribery in organizations. Twenty-six internal and external attributions related to bribery were identified through a series of structured interviews with 65 subject matter experts. These attributions, together with the other variables in the model, were evaluated by 354 (n = 354) Ecuadorian managers. Hierarchical regression analyses indicated that attitudes and external attributions significantly predicted managers’ intentions to discipline employees who accepted a bribe. In addition, external attributions mediated the relationship between individualism–collectivism and intent to discipline corrupt employees. Implications for the management of bribery in Latin American organizations are discussed.  相似文献   

19.
《Business History》2012,54(4):455-473
This article addresses a major topic in business history: the strategies used by multinational telecommunications companies to establish themselves on the world stage. It seeks to explore two interconnected issues: how a new entrant–ITT–used the immature market of Spain in its strategy for expansion, and how Spanish national institutions and government regulation influenced this process. With the backing of the US banks and government, ITT created a Spanish firm–the Compañía Telefónica Nacional de España–in 1924 to keep European competitors at bay and to win a licence to modernise and operate the telephone system in a backward country. The Spanish government granted ITT a monopoly concession, which remained unaltered for 20 years in spite of political changes. This was the first step in ITT's conquest of the world market and in its conversion into a multinational. Company strategy, government institutions and technological innovation played a crucial role in ITT's implantation on a worldwide scale.  相似文献   

20.
Abstract

The “green gap” is traditionally thought of as the gap between how consumers intend to behave regarding green living and how they actually behave. We extend the idea of the green gap by demonstrating a different kind of disconcerting green gap. There are three levels of green advertising—with tensions embedded in their differing agendas. An ethnographic content analysis and phenomenological interviews reveal that there is a macro agenda of saving the planet associated with nonprofit green advertisers. There is a meso agenda associated with for- profit enterprises. These commercial approaches do not appear to be aligned with consumers' micro agendas of saving one's own part of the planet (or at the very least, of not wasting one's part of it, as perpetuated by consumers). We then provide solutions for green advertisers in bridging this unsettling green gap among for-profit advertisers, nonprofit advertisers, and consumers who want to make being green and less wasteful easier in their everyday lives.  相似文献   

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