Toward a theory of competitive market signaling: A research agenda

Competitive market signals are conceptualized as announcements or previews of potential actions intended to convey or to gain information from competitors. This paper develops a set of propositions based on research in economics, social psychology, and marketing on the risk/reward trade-off in signaling, the receiver's signal interpretation, and the receiver's reaction alternatives. The overall objective is to develop a research agenda toward a theory of competitive market signaling.     

A dynamic perspective on the impact of process innovation upon competitive strategies

The paper lays the foundation for building a dynamic theory of the impact of process innovation upon competitive strategies. An innovation is tracked over two and a half decades to observe changing patterns in competition resulting from ongoing innovation development, emerging complementary technologies, and expanding use. The study finds that the innovation created competitive opportunities and threats for both firms that adopted it and those that did not.     

The framework of a global company: A conceptualization and preliminary validation

Clearly, a substantial challenge for multinational corporations (MNCs), in the current environment of intensified competition and rapid industry consolidation, is one of much greater worldwide integration. Necessitated by intense competitive pressures, MNCs are integrating their disparate country operations in order to achieve economies across markets and operating units. This article integrates the motives and facilitators of the progression towards commonality in practices and metrics across subsidiaries and affiliates into a comprehensive framework of a global company. Preliminary results from a pilot study of the characteristics of common global practices among a sample of MNCs are presented as an initial validation of the conceptualization. The article also explores the benefits MNCs derive from the implementation of common practices across their worldwide operations, in pursuit of a global strategy.     

Vertical equilibrium in a competitive input market

Imperfect competition, imperfect information, disequilibrium, and rationing all induce vertical integration in relatively straightforward ways. But can vertical integration arise when firms are competitive and markets clear rapidly? This paper demonstrates that a vertical equilibrium can be generated when the intermediate market is subject to external fluctuations and when there are economies of coordination for firms which avoid the market via integration. The vertical equilibrium is one in which some firms will be integrated while some will not, despite the fact that all firms are identical. Thus, one need not conclude that differential degrees of integration within industries are the result of differing circumstances among firms.     

The influence of brand image and company reputation where manufacturers market to small firms: A customer value perspective

Branding research has largely focused on consumer goods markets and only recently has attention been given to business markets. In many business markets the company's reputation has a strong influence on buying decisions which may differ from the more specific product related influence of the brand's image. In this paper we investigate these differences by testing the hypotheses about the influences of brand image and company reputation on customers' perceptions of product and service quality, customer value, and customer loyalty in a business market where there are three manufacturers marketing their brands directly to a large number of small firms. The results indicate that the brand's image has a more specific influence on the customers' perceptions of product and service quality while the company's reputation has a broader influence on perceptions of customer value and customer loyalty.     

Technology development processes: A model for a developing country with a global perspective

This paper presents a conceptual model as a new framework of the technology development processes in LDCs based on global perspective. The proposed model consists of three development stages such as initiation, internalization, and generation, as well as some propositions related to the levels of transferred technology, technology acquisition modes, technology elements mastered, and major contributors of technology development in each development stage.
The model explains several dynamic changes in LDC's development processes with global perspectives focussing on the DC-LDC linkages. In addition to formal channels, this model also deals with non-formal channels, including imitation, which are unduly neglected in the literature, equally important as methods of technology acquisition. Moreover, the proposed model analyzes the technology development processes from several different standpoints and embraces multi-level units of analysis such as country, industry, firm, and unit technology. Because the proposed model explains the observable phenomena only and is a conceptual model to be tested, further theoretical studies are needed to explain the underlying principles of technology development in LDCs such as the technology learning theory. In addition, further empirical studies to test the global perspective model in various situations are needed.     

Founding strategy and performance: A comparison of high and low growth high tech firms

Some firms grow very rapidly; others much more slowly. Potential explanations for differences in performance levels between high growth firms and low growth firms operating in the same industry are sought by comparing the firms' founding strategies. Results indicate that founding strategies of high and low growth firms differ systematically among the firms studied.     

Firm responses to social movement pressures: A competitive dynamics perspective

Why do firms respond to social movement pressures differently? This study investigates how the strategic motivation of firms, as captured by competitor activity and market dependence, influences the likelihood of their response to social movement demands. We examine this through a longitudinal analysis of wind power adoption by electric utilities in U.S. deregulated markets. We find that when either competitor actions aligned with movement demands or firm dependence on targeted markets increase, the positive effect of movement activism on firm response diminishes. In contrast, as strategic motivation declines, increases in movement activism become more influential at eliciting firm responses. Copyright © 2014 John Wiley & Sons, Ltd.     

A model of corporate innovation management: some recent high tech innovations in Japan

The various models of Japanese corporate innovation management reported in literature are reviewed to identify the major elements of the innovation process. An integrated model is presented examining the recent examples. The Japanese corporate innovation process is highly interactive and involves comprehensive organizational intelligence, quick organizational learning, rapid technology diffusion, horizontal information flow systems, fusion of different technologies to obtain innovations quickly, concurrent engineering and quick utilization of core competence for new business development. The innovation system is quick to respond to competition and concentrates on developing core competence that is used for commercializing new products quickly.     

Intertemporal dependence of demand in an imperfectly competitive market: A differential game analysis

Intertemporal dependence of demand at the industry level, as exists in the case of motor fuel, alcohol, automobiles, electricity, and other goods and services, imparts a dimension of investment to current output decisions. Except in monopoly, such output decisions will have durable external effects. The present paper uses a differential game model to explore the behavior of such a market, with special emphasis on the effect of changes in the interest rate and in the speed of adjustment.     

2009年全球汽油市场分析

因经济恶化,2008年全球汽油需求出现负增长。2008年全球汽油供应为2196万桶／日,需求为2207万桶／日,缺口由上年的34万桶／日缩小至10万桶／日。北美、中东、拉美和非洲存在汽油缺口,欧洲和欧亚地区供应过剩。2008年美国汽油需求由上年的929万桶／日降至897万桶／日,净进口量也由上年的100万桶／日以上下降至90．3万桶／日。预计2009年美国汽油消费将微升0．7％,至903万桶／日,但汽油市场依旧疲软。关国是欧洲汽油的传统出口市场,受前者市场低迷影响,欧洲汽油将不得不寻求其他出口市场。预计2009年欧洲汽油将过剩117万桶／日。2009年亚太地区炼厂新增一次炼油加工能力将达201万桶／日,这些新增炼油能力将对炼油毛利构成压力,并不得不寻找新的出口市场。中东地区成品油需求的快速增长成为汽油消费的新增长点。预计2009年全球汽油供应量将持平或略低于去年的水平,而需求将持续疲软,全年NYMEX RBOB与WTI价差将在8关元／桶左右的较低水平运行。全球汽油贸易格局将不再是简单的单方向路径。     

Managing customer profitability in a competitive market by continuous data mining

In a near perfect market, competitive marketing strategies are often adapted dynamically and rapidly. The changes in customer behavior are resultant in unpredictable customer profitability and cause inefficient and ineffective marketing planning. In this study, by using data mining techniques, we develop a Customer Profitability Management (CPM) system to achieve marketing goals by leading customers to migrate along pre-determined and desirable tracks. The proposed system emphasizes a continuous interplay between the active and reactive monitoring procedures to identify customer shifts. It has been shown to be an effective approach to help a firm calibrate its marketing tactics with respect to different types of customers in different situations. The proposed mechanism has been applied to a telecom company with promising results.     

高度市场竞争环境下的国内成品油营销策略思考

中国成品油零售市场激烈竞争的时代已经到来,以往以资源掌控取胜的国内成品油销售企业需要认真思考并调整营销策略,加快角色转变,提高市场适应能力,迎接市场的考验。作为一个立足长远发展的企业,从战略层面来说,价格战不可取,营销策略的“大起大落”不可取,应着力于培育品牌价值,着力于寻找新的增长方式。就战术层面调整营销策略而言,应对加油站进行分类和功能定位,因地制宜开展个性化服务;加大信息化投入,提高服务效率;采取灵活多样的促销手段,推行会员制,施行俱乐部式管理;继续扩大非油业务范围,开展多种经营,打造＂强强联手＂的共赢局面;一切从顾客的利益出发,持续改善服务质量和水平。     

Toward a theory of entrepreneurial rents: A simulation of the market process

While strategy theory relies heavily on equilibrium theories of economic rents such as Ricardian and monopoly rents, we do not yet have a comprehensive theory of disequilibrium or entrepreneurial rents. We use cooperative game theory to structure computer simulations of the market process in which acts of creation and discovery disequilibrate and equilibrate the market over time. Using simulation experiments, entrepreneurial rents can be isolated from structural rents by keeping initial structural advantages constant. We impute entrepreneurial rents to underlying actions of creation and discovery under various combinations. Our results have relevant implications for entrepreneurship strategy, particularly for firm boundaries and resource allocation decisions. Copyright © 2013 John Wiley & Sons, Ltd.     

Career orientations of software developers in a sample of high tech companies

The career orientations of software developers in 11 high technology companies of different sizes were studied. It was found that the proportion wanting a managerial career was higher than might be expected (34%) and increased with organisational size. Approximately 25% wanted advancement in a technical career, and this remained the same in organisations of different sizes. The same proportion wanted to start up their own company, but this decreased substantially with organisational size. The group wanting a project-based career was the smallest, at 15%, and this varied slightly with organisational size. The four groups showed differences in their ideal job characteristics, organisational versus technical orientation and expected tenure. The extent to which they actually expected to satisfy their career preference varied dramatically, with the great majority of managerially-oriented expecting to actually be managers, but the majority wanting to start their own company not expecting to actually do so. The small high technology company has become an important, almost mythical, component of popular and academic folklore. As Beyer says, the “prevailing wisdom from both lay people and researchers who have been around them says that these firms are somehow different” (Beyer, 1985, p. 483). Within such organisations, the software developer or computer hack has similarly developed a particular aura. As one commentator puts it, “the stereotyped image of the community of programmers is … of a collection of single-minded nerds possessing no interest in life outside the digital realm” (Sandberg-Diment, 1986, p.C3). In spite of the interest in both the nature of such companies and such employees, there has been very little empirical data collected (Turbin and Rosse, 1988, p.17) to substantiate the folklore. In particular there has been an almost complete absence of rigorous academic enquiry into what the individuals choosing to work in this type of company are really like, or what their work needs actually are. The present paper is aimed at filling some of this gap, by addressing the issue of what type of career path software developers in high tech companies want.     

The succession process in Chinese family firms: A guanxi perspective

Intergenerational succession is a principal cause of the high failure rate among first- and second-generation family businesses. The purpose of this paper is to contribute to the understanding of the complexity and dynamics of the succession process by examining the role of guanxi. This paper uses an exploratory case study of six Chinese family firms. The results of this research indicate that (1) the succession process of entrepreneurs’ guanxi networks can be divided into four representative phases, namely, preheating, triggering, readjusting, and reconstructing; and (2) each phase requires performing some characteristic tasks. Such tasks include the cross-generational teaching and learning of guanxi philosophy, the deconstruction of the profile of guanxi networks, the introduction of the next generation to existing guanxi parties, the cross-generational role readjustment in guanxi building and management, the renewal of guanxi parties, and the rebuilding of guanxi net structures. The results of this study also provide an extended theoretical model that helps to explain the relationship between the intergenerational transfer of entrepreneurs’ guanxi networks and the transfer of leadership.     

Beyond high tech: early adopters of open innovation in other industries

Companies have historically invested in large research and development departments to drive innovation and provide sustainable growth. This model, however, is eroding due to a number of factors. What is emerging is a more open model, where companies recognize that not all good ideas will come from inside the organization and not all good ideas created within the organization can be successfully marketed internally. To date, Open Innovation concepts have been regarded as relevant primarily to 'high-technology' industries, with examples that include Lucent, 3Com, IBM, Intel and Millenium Pharmaceuticals. In this article, we identify organizations in industries outside 'high technology' that are early adopters of the concept. Our findings demonstrate that many Open Innovation concepts are already in use in a wide range of industries. We document practices that appear to assist organizations adopting these concepts, and discover that Open Innovation is not ipso facto a recipe for outsourcing R&D. We conclude that Open Innovation has utility as a paradigm for industrial innovation beyond high tech to more traditional and mature industries.     

Product and process innovation in biopharmaceuticals: a new perspective on development

Developing new products and processes is increasingly a focal point of competition and often requires the development and successful implementation of novel process technologies. The process development and production of a new biological entity are significantly more complex than those for small molecule drugs. Conventional new product development models in the literature on firm level innovation fail to explain the nature of development projects for biopharmaceuticals. This paper makes the case that a new perspective is required to understand the management of product and process development in biopharmaceuticals. An explanatory model is proposed for this purpose.     

Pricing process as a capability: a resource‐based perspective

Strategists following the resource‐based view argue that firms can generate rents through value creation. To create value, firms develop and use resources and capabilities that other firms cannot imitate, trade for, or substitute other assets for. Even a firm that has created value, however, may not capture the potential rents associated with that value. To capture rents, a firm must set the right prices for what it sells. Most views of pricing assume that a firm can readily set appropriate prices. In contrast, we argue that pricing is a capability. To develop the ability to set the right prices, a firm must invest in resources and routines. We base our argument on a study of the pricing process of a large Midwestern manufacturing firm. We show that pricing resources, routines, and skills may help or inhibit a firm in setting the right price—and hence in appropriating value created. Our view of pricing as a capability contributes to the resource‐based view because it suggests that strategists should consider the portfolio of value creation and value appropriation capabilities a firm uses to create competitive advantage. Our view also contributes to economics because it suggests that strategic decisions about pricing capabilities have important implications for a fundamental economic action, determining prices. Managers in firms without effective pricing processes may be unable to set prices that reflect the wishes of its customers, so the customers may misuse their resources. As a result, resources may be used ineffectively. Our view of pricing as a capability therefore takes the resource‐based‐view straight to the heart of what is perhaps the central economic question: the best use of resources. Copyright © 2003 John Wiley & Sons, Ltd.     

Continuing the evolution of the selling process: A multi-level perspective

This paper considers the selling process from a relational perspective, thereby developing a more comprehensive understanding of the process. Emerging from this is a multi-level framework, which delineates the multiplicity and connectedness of relationships which exist in B2B interactions. The paper provides a relationship management tool for theorists as well as practitioners. The model visualizes strategic advantage for selling firms in seeking to optimize their position in an evolving network context. The combining of IMP, sales and relationship marketing theories that underpin this approach calls for further extension and/or reconceptualization of the selling process. Our reconceptualization asserts that identifying, measuring and managing selling-related relationships at the monadic, dyadic and network levels will facilitate the strengthening of a firm's network position and thus their performance. Our framework provides an analytical tool to assist in this.