Why Do European Companies Have Innovation Hubs in Silicon Valley—Best Practice Examples and Key Takeaways

Innovation hubs are gaining high attention in recent years, especially from European companies. Silicon Valley has been deemed as one of the most attractive and successful environments for establishing innovation hubs. This article highlights examples of companies from Europe that made the step to California—namely, Volkswagen, Swisscom, BMW, Axel Springer, Munich Re, and Innogy SE (RWE Group). Based on these companies’ experiences, recommendations are given on how companies might approach a setup in Silicon Valley for long‐term success. © 2016 Wiley Periodicals, Inc.     

Infrastructure Development and Regulatory Reform in Sub‐Saharan Africa: The Case of Air Transport

This paper analyses the main policy issues raised by regulatory reform in air transport in sub‐Saharan Africa. Its basic premise is that improving ait infrastructure is of paramount importance for the region as it tries to integrate more thoroughly into the world economy. On the basis of the experience of OECD countries with privatisation, liberalisation, and regulatory design, the author analyses progress being made in sub‐Saharan Africa and identifies three important case studies: the restructuring of the regional airline of Francophone Western Africa, the sell‐off of the state‐owned airline of Kenya, and the overall reform process in South Africa, by far the largest market in the sub‐continent. The analysis highlights the importance of regional dynamics in the upgrading of the air transport industry in developing and emerging areas. Sub‐Saharan Africa has made smaller progress in this respect than, for instance, Central America. As the start of the Millennium Round and the first WTO air transport review approach, these issues will gain policy priority for all countries, and may become powerful bargaining tools for non‐OECD countries to press for more open access into OECD markets for the South's traditional exports.     

Angel Financing and the Performance of High‐Tech Start‐Ups

In this paper, we investigate what drives the performance of high‐tech start‐ups receiving angel financing, while taking a closer look at the capabilities (i.e., experience) and investment behavior of business angels (BAs). We exploit a new data set (extracted from Crunchbase), which consists of 1,933 high‐tech start‐ups that received at least one financing round from a BA. The results indicate that the experience of BAs in early stage investments is positively associated with additional receipt of follow‐on rounds of financing and sequential capital injections from venture capitalists (VCs). Later‐stage experience is positively associated with the start‐up's success (i.e., probability to be listed or acquired), but reduces the need for new VCs to invest in the start‐up. Furthermore, we find consistent evidence that start‐ups that combine BA and VC financing experience higher levels of funding amounts, additional VC financing, and an improved likelihood of success. Finally, we find that the co‐localization of BA investors and start‐ups in the same area facilitates the attraction of VC financing.     

Startup time,innovation and organizational emergence: A study of USA-based international technology ventures

The acceleration of new technology venture launch and growth is an important and rapidly growing field of practice for university-based accelerators, incubators, and technology transfer offices. Based on four comparative case studies of fast-launching clean tech startups in the USA (two of which were university-affiliated), this paper explains how some technology startups are able to develop innovative products, form organizations, internationalize, and release products into global markets very rapidly, and highlights implications for university-sourced ventures. Findings show that two processes, “product emergence” and “organization emergence,” have to be managed strategically, with time as a critical variable to be considered. This paper suggests that there are dynamic tensions between temporal, financial, and human resources in the technology startup process. To start up quickly, the new international technology venture compresses two parallel timelines: product launch and organization launch, which can also accelerate the internationalization process. This study identifies the organizational formation pivot as a risky but necessary transition from a lean, informal, fast-paced technology development project to a structured, legally compliant organization, in the case of a university-sourced venture fully independent from the university that spawned it, that can be trusted for transactions and investment.     

Blitzscaling: The good,the bad,and the ugly

Today’s disruptive innovations are driving the creation of numerous billion-dollar startups. Venture capitalists focus on these potentially disruptive technology startups and fund them furiously, advancing their speed of growth. The idea is to scale fast and seek huge returns for investors. Terms that define this type of aggressive scaling have recently developed in Silicon Valley. Unicorn is defined as a venture with a value of $1 billion, while a decacorn describes startups with a value of $10 billion. Another recent term is blitzscaling: funding a venture for extremely fast growth and prioritizing speed over efficiency in an environment of uncertainty. While blitzscaling is being used heavily by investors in Silicon Valley, we look at exactly what comprises this new phenomenon and how it is used in practice. We examine the concept, its stages, and its prevalence before reviewing the different examples of how the strategy has been implemented for success (the good), cases of its failure in practice (the bad), and the extreme cases of ethical compromise by ventures (the ugly). From these cases, we draw specific lessons that, if understood and appropriately addressed, would help new ventures effectively implement the strategy.     

硅谷创新集群的演进机理及其信息体制选择

硅谷作为高技术创新集群的成功,深刻地影响了各国的多技术产业的发展政策。为此,基于创新的演化,分析高技术企业集群硅谷的阶段性演进及其特征,依据硅谷在不同历史阶段技术创新的组织形式和信息体制演化,总结高技术企业集群创新发展演进的一般机理,以此降低治理成本和提高创新效率。     

Reinforcing Cultural Identity by Appealing to Local Cultural Cues: National Identity Formation and Consumption in High-Context Cultures

Traditionally, U.S. firms have successfully used American appeal (hard-sell approach) as a unique selling proposition in Europe, Japan and in the developing world. However, the anti-American sentiments around the world due to the Iraqi and Afghan wars and recent upheavals in the Middle East and North Africa have negatively influenced consumer judgments about American-labeled global brands in international markets during the last decade. Such consumer perceptions may lead to a favorable environment for new competitors to emerge in specific markets, and these products may take significant market share away from global U.S. brands.     

Agri‐environmental Relationships and Multi‐functionality: Further Considerations

Multi‐functionality is a currently fashionable argument, especially within the EU, for continued support of the farming sector. However, there is a substantial danger that this will be used, and be seen to being used, as a façade for continued traditional support and protection. If so, the current trend towards liberalised agricultural markets, on which much of the developing world depends, will be frustrated. Nevertheless, farming does matter to many communities, over and above its marketable surplus and the incomes so generated. It follows that any negotiations aimed at liberalising agricultural trade have to take these arguments seriously. To do so requires that the critical elements of the debate be widely understood. This paper outlines these critical elements, in the light of a previous contribution from Hodge (2000) . It argues that there are ways in which quasi‐market systems can be used to correct market failures implicit in the notion of multi‐functionality. It also argues that proper compensation to existing supported farmers is a necessary and separate condition for sensible policy reform. Much of the commentary on farm trade liberalisation confuses the two separate conditions for reform: multi‐functionality and compensation. This confusion threatens progress towards agricultural trade liberalisation, without generating any reliable benefits of a more multifunctional agriculture.     

Global talent management: Shaping the careers of internationally educated talents in developing markets

In the context of globalization, country‐level actions to manage global talent (e.g., development of immigrant‐friendly policies, policies to attract back skilled diaspora, or investment in the international education of youth) have been underresearched. The aim of this article is to analyze the impact of a country‐level global talent management practice on the careers and career success of its talents in the Republic of Kazakhstan, a developing country in Central Asia. Using qualitative methods, this study introduces new dimensions of career success evaluation for internationally educated talents in developing markets: use of knowledge acquired abroad and international aspect of the job. Based on these dimensions, it develops a model of career types. The career types predict the varying degrees of talents' career success and their involvement in sharing and capitalizing on knowledge, ideas, and international experience, which may have an impact on society. The study contributes to the field of global talent management and career success by providing empirical evidence on an underresearched topic in the underresearched context of developing markets.     

Penetrating Export Markets:

The results of this study are based on a survey of small-and-medium sized exporters located in Florida, focusing on their export products and markets. The study indicates that export opportunities do exist for these firms, particularly those which produce medium-and-high tech products. The size of the company, product mix, and choice of market are interrelated in terms of the ease if penetrating markets and the probably success.     

Price rather than nutrition information the main influencer of consumer food purchasing behaviour in South Africa: A qualitative study

In South Africa there has been a paucity of data on food and nutrition labelling since the publication of the new food‐labelling legislation. This study aimed to explore whether the nutrition information on food products influences consumer purchasing behaviour; reasons for reading or ignoring nutrition information on labels, and to investigate expectations regarding food / nutrition labelling. Nine focus‐group discussions were held with adult consumers (N=67) in Cape Town, South Africa. Food price was sometimes the only consideration when selecting food products, irrespective of quality and nutritional value. When buying products for the first time, consumers were more inclined to read the nutrition information compared to habitual purchases or buying known brands. The list of ingredients, nutrient content claims and specific health endorsement logos were considered important. Reasons for reading nutrition information were mainly to assess the nutritional value or health properties, to avoid certain ingredients/allergens and to determine quality. Consumers struggled to understand the information on labels, specifically the nutrition information table. A lack of time or interest, price concerns and trust in labelling information also emerged as reasons why consumers ignore the nutrition information. There is a need for simpler food labelling, more graphics, and less complex terminology, information overload and quantitative information. It is recommended that a standardised front‐of‐package labelling scheme and a single health endorsement logo for South Africa be considered. More should be done to educate consumers on utilising the information on food labels correctly, in order for them to make healthier food choices.     

中国创始人(Founder)系列物种研究之一:创始人30

如果没有十年前那一场伟大的互联网泡沫,也许中国不会想到要复制一个纳斯达克。如果那场泡沫不是如此迅速而又残酷地破灭,也许后来百度、盛大、携程、如家、分众这样的公司登陆的     

Lessons learned from international expansion failures and successes

Many retail and restaurant companies adopt international expansion as a strategy to take advantage of business opportunities presented by target markets. Common objectives include increasing revenue, escaping a hypercompetitive or saturated home market, entering an emerging or lucrative market, and leveraging domestic capabilities in a bordering country. Success in international expansion is not guaranteed, however; the business world is littered with failures. In this article, we examine the international expansion failures of five service companies that opened physical facilities in a foreign country: Target, Tim Hortons, Best Buy, Tesco, and Walmart. While a variety of factors led to these failures, some common causes have been identified. These include a lack of understanding of the purchasing characteristics of consumers, underestimation of the local competition, supply chain issues, and poor strategic decisions regarding facility location and the rate of expansion. Not all international expansions are failures, though, and herein we also present the success stories of Aldo, Carrefour, and Nordstrom. These companies understood customer preferences and focused on location issues and their supply chains. Based on the aforementioned failures and successes, we offer guidance for companies looking to expand their business operations via a physical presence in a foreign country.     

Food Safety Issues,Trade and WTO Rules: A Developing Country Perspective

The SPS Agreement and the related WTO dispute settlement mechanism are an important first step in strengthening the global trade architecture, bringing in greater transparency and orderly conditions to world food trade. However, implementation of the new trade rules has turned out to be a more complex task than the traditional market access issues handled by the WTO. Several factors, including inadequate financial and technical resources, have constrained devel‐oping countries from becoming effective participants in the implementation process, and there is widespread suspicion that SPS regulations are being used as hidden protectionist devices by developed countries. However, despite all the problems, some developing countries have been quite successful in penetrating developed country food markets; they have done so by accepting the consumer preferences and standards in quality‐sensitive high‐income markets and implementing domestic supply‐side measures. While making full use of available international assistance initiatives, developing countries should view the task of complying with SPS standards not just as a barrier but also as an opportunity to upgrade quality standards and market sophistication in the food export sector.     

Home Firm Performance After Foreign Investments and Divestitures

An almost undisputed aim for firms in today's globalised world is to operate internationally. Several papers find a positive relationship between foreign direct investment (FDI) and the domestic performance of firms. In this paper, we address the ‘FDI – export’ relationship to better understand this trend. Furthermore, by presenting results on firm's post‐divestiture employment growth at home, we are able to provide a more comprehensive view on firm performance after stepping in and out of foreign markets. We apply a propensity score matching technique in combination with a difference‐in‐difference estimator to analyse the performance dynamics of French firms that either invested abroad or carried out foreign divestitures during the period 2000–2007. FDI has, on average, a positive effect in terms of export share, operating turnover and employment in firm's domestic market. Industry differences reveal that firms in high‐tech industries experience a strong increase in their domestic performance, whereas firm performance in low‐tech industries increases only moderately in post‐investment periods. In contrast, the divestiture impact on the post‐divestiture performance is rather negligible.     

止不住的生产率衰退

惠普，这家硅谷最古老的科技企业，包括乔布斯等一大半业界翘楚曾出自其门下的企业，或许对电脑业的微薄利润失望至极，决定抛弃PC业务。当全球经济再度低迷，二次探底之声不绝的时候，回顾IT业对经济增长的影响，或可解读出当前发达国家的尴尬处境。     

The internationalization of emerging stock markets

Stock markets in developing countries today account for about 7 per cent of world equity market capitalization, and this share is rising rapidly. Foreign investors have in the past often faced restrictive barriers to access to these emerging markets. A growing number of developing countries have now started to dismantle these barriers, however, resulting in an increasing interest by international portfolio managers in these emerging stock markets.     

Zhongguan Village, China's Silicon Valley

In 1999,driven by the dream of using technology to change people‘s lives, Li Yanhong,returned to Zhongguan- cun (Zhongguan Village in Chinese), Beijing from Silicon Valley in the U.S.to create Baidu.com.Over the years,Baidu has become the most frequently hitted website in China as well as the largest Chinese search engine and Chinese lan- guage website in the world.In August     

China,India and the Commodity Boom: Economic and Environmental Implications for Low‐income Countries

The international role of China has risen steadily for two decades – and has become even more important in the current global recession. The growing supply of labour‐intensive manufactured exports from China has been accompanied by a huge expansion in its imports both of raw materials and of skill‐intensive manufactured parts and components. This ‘offshoring’ of intermediates production by a large, labour‐abundant economy has economic and environmental implications for other developing economies. More recently, the rapid expansion of the Indian economy and trade indicates that it too will soon exert similar effects on global markets. We sketch a model showing how the growth of these developing‐country ‘giants’ generates adjustment pressures on other developing economies. We discuss in particular how differences in relative factor endowments of resource‐rich economies can produce quite different outcomes in the context of product fragmentation and expanding commodity trade. We also explore the effects on production, trade, environment and prospects for future growth in resource‐rich economies, particularly in the context of weak institutions and other market failures. We illustrate these different impacts by considering the cases of Indonesia, Malaysia and Thailand and highlight implications for growth, development and policy.     

An Examination of International Retail Franchising in Emerging Markets

There has been an urgent call from both the franchise industry and the academic community for research on world franchising markets, specifically in the retail sector. This article is an attempt to summarize the main research that has been conducted thus far on international retail franchising. The article begins with an overview of the development of the literature and then discusses the nature and scope of emerging markets, with particular reference to their impact on the stakeholders of international retail franchising. Next, the article develops a conceptual model relating international retail franchising to its stakeholders. Then, a review of the research is divided into the areas of emerging world market: Central and Eastern Europe, Mexico and South America, Asia, and other areas that include India, Kuwait, and South Africa. The article concludes by discussing the next step to developing a research base for further understanding of emerging markets in addition to the opportunities and challenges for retail franchising and future research.