The impact of internal,external, and competitor factors on marketing strategy performance

ABSTRACT

Strategy formulation is commonly understood as the match between a firm’s internal resources and skills and its external environment. Marketing strategy performance is the function of a dynamic, interactive process incorporating internal firm resources, external environmental factors, and competitive actions. The study aims to assess the impact of competitor actions on marketing strategy performance. We develop a model that accommodates the effects of 29 variables (comprising internal marketing strategy variables, external environmental factors and competitors’ marketing mix variables) on business performance. We empirically test the model using simultaneous equation modelling of time-series data on UK car manufacturers collected from publically available resources and annual reports. The results show that external factors, in particular competitors’ marketing mix elements, have a greater influence on a company’s business performance than internal (marketing and non-marketing) strategy variables. Implications for marketing theory and management are discussed.     

Strategies,Uncertainty and Performance of Small Business Startups

Personal strategies of owners/founders of small business startups are related to performance and to environmental uncertainty. This is done using a longitudinal data set. Personal strategies are operationalized by a behavioral measure of the manners in which small business founders deal with situations. The results suggest a dynamic process between strategy and performance. Business owners that perform poorly employ a Reactive Strategy, with poor performance leading to increased use of reactive behavior. High performing business owners start out focussing on the most crucial issues (Critical Point Strategy), with high performance leading to a more top-down (Complete Planning) approach. These relations are controlled for characteristics of the environment of the firm. Strategy use is dependent upon the type and level of environmental uncertainty. Complete Planning strategy is used less frequently in a fast changing environment and more often in a complex environment. Use of Opportunistic Strategy is negatively related to the complexity of the environment, while the Reactive Strategy is used more frequently in a non-munificent environment. This revised version was published online in August 2006 with corrections to the Cover Date.     

The Structure of Strategy

This article takes a view of strategy which disputes the common distinctions between formulation and implementation, and between programmed and adaptive strategies. It argues that corporate success derives from a competitive advantage which is based on distinctive capabilities, which is most often derived from the unique character of a firm's relationships with its suppliers, customers or employees, and which is precisely identified and applied to relevant markets. Strategy is that process.     

Beyond the Formal–Informal Dichotomy of Small Firm Strategy‐Making in Stable and Dynamic Environments

Strategy‐making assists small firms in managing change and uncertainty by developing suitable strategic options. We move beyond the conventional formal–informal dichotomy to show how three informal approaches—internal participation, external participation, and centralized strategy‐making—help both entrepreneurial firms and conservative firms to navigate more or less dynamic environments. In an empirical study of 320 small firms, we find that participation during strategy‐making relates positively to performance whereas centralization only matters for conservative firms in stable environments. In dynamic environments, better performance in entrepreneurial firms is associated with all three approaches. Our findings highlight the importance of viewing strategy‐making in small firms as multifaceted and context specific.     

规模经济理论与我国的大企业战略

大企业战略是企业所选择的一种总体战略,在本质上,它属于发展战略的一种。企业采取这种战略往往表现为,规模的迅速扩张,资源的广泛占有,购并行动的加速,高市场占有率的执着追求等。本文从规模经济的角度分析我国的大企业战略。     

Compliance and the Illusion of Ethical Progress

It has become common for business practitioners and management scholars to distinguish between compliance and ethics. According to the conventional distinction as expressed in Paine’s formulation of Integrity Strategy, compliance is ordinarily a necessary but insufficient condition for ethics. Now that this distinction has been institutionalized in the most significant judicial, legislative, and regulatory developments in American business conduct management since the Enron failure, it is worth asking whether the current emphasis on ethics represents progress. Does it make logical and practical sense to impose ethics as a compliance requirement, or have we come full circle? I argue that assertions of organizational ethical progress, usually involving an increase in the number and or severity of compliance restrictions, do not get the conventional distinction quite right. Moreover, under the consensus distinction, there can be no such thing as organizational ethical progress. However, our ordinary ways of talking about business conduct management often betray logical confusions about the ethics–compliance relationship. While the metaphors we employ – “higher standards,” “raising the bar,” “gray areas,” and “crossing the line,” etc. – perform a worthwhile function as standards for external evaluation of business conduct, they also have a tendency to limit and impoverish our conception of what it is to be ethical. The idea that ethics matters is fundamental to Integrity Strategy’s implicit claim, consistent with conventional wisdom and moral theory, that the objective of responsible conduct cannot be achieved solely by imposing from outside what is required but must also appeal to what is desired.     

Scenario-based strategy maps

Strategy maps are designed to help execute strategy and bring predictive qualities to key performance indicators by linking them according to perceived cause-and-effect relationships. However, in our experience strategy maps are often extrapolations of past performance and are seldom sufficiently linked to possible future states. In this article, we argue that scenario analysis could play an important role in the design of strategy maps, as it is an effective method to look at the future. Through the development of scenarios, organizations can think creatively about possible discontinuous future states and can prepare themselves for multiple plausible futures, not only the one they expect to happen. Therefore, scenario-based strategy maps could enable organizations to face strategic uncertainty in a more effective way and make them more sustainable in the longer term. This article highlights the strengths and weaknesses of strategy maps and scenario analysis, and outlines a method to develop scenario-based strategy maps both in theory and by presenting a significant example.     

Corporate Social Strategy: Competing Views from Two Theories of the Firm

This paper compares two theories of the firm used to interpret firms’ corporate social strategies in order to derive new insights and questions in this research area. Researchers from many branches of strategic management agree that firms can strategically allocate resources in order to achieve both long-term social objectives and competitive advantage. However, despite some progress in investigating corporate social strategy, studies rely on fundamentally diverging theoretical approaches. This paper will identify, compare and begin to integrate two competing theories of the firm implicit in corporate social strategy scholarship: the resource-based and behavioural theories of the firm. I discuss the implications of these two theories for both researchers and practitioners on key debates within corporate social strategy, and conclude by suggesting several fruitful avenues for future research based on the emerging integration of these two theories of the firm within the strategy literature. Dr. Frances Bowen is an Associate Professor in the Strategy and Global Management Area of the Haskayne School of Business, University of Calgary. Her main research interests cross strategy and organisational theory, focusing on corporate environmental strategy. She has examined firms’ enviromental decisions in a variety of complex decision-making contexts. Current and recent research projects have focused on the roles of subsidiary managers in encouraging environmental initiatives within multinational companies, and how firms might induce suppliers to participate in environmentally sound supply chain management. Her main theoretical interest is how the behavioural theory of the firm can be integrated with the resource-based view to better explain corporate environmental strategy.     

Development of a food and health strategy for Cardiff

This keynote address will cover the background to, research involved in and presentation of a Food and Health Strategy for Cardiff. The work involved:

• 1 A rapid appraisal of over 20 initiatives, which promote the availability and consumption of safe, healthy and sustainable food within Cardiff.
• 2 Recommendations for membership of a food and health strategy working party.
• 3 The preparation of a framework document as a starting point for the working party.
• 4 The meeting of the working party and key‐stakeholders to produce a final strategy for Cardiff incorporating sustainable development, food quality, safety and hygiene, food availability, education and nutrition.
• 5 Ensuring that the Cardiff strategy reflected the broad aims and objectives of already existing pertinent documents, e.g. National Service Framework for Coronary Heart Disease, National Service Framework for Diabetes, Nutrition Strategy for Wales, Cardiff Strategy for a Healthy City, A Community Strategy for Cardiff, Local Sustainability Strategy for Cardiff.

The presentation will consist of key findings in terms of best practice, evaluation of successful initiatives and intercollaborative working.     

基于战略视角的企业生命周期不同阶段员工绩效管理研究综述

本文以硕博士论文为主,对当前企业生命周期不同阶段绩效管理体系研究的相关资料进行了综述,以期让读者明了理论研究动向,探索出与生命周期各阶段战略目标相匹配的绩效管理模式。     

Marketing strategy and the hunt for era V

ABSTRACT

This paper is a response to a recent special issue of the Journal of Marketing Management in which Shelby Hunt celebrates the achievements of 40 years of marketing strategy. In noting the passing of the ‘old guard’, Hunt calls on a new generation of scholars to meet the challenges confronting marketing and to develop new theories and frameworks to advance Marketing Strategy into Era V. We take for our inspiration Hunt’s own words, specifically his reference to the ‘promising’ and ‘problematic’ that he uses to characterise the current and latent state of marketing strategy. To build our vision and map out our agenda we offer an alternative reading of this discipline through the idea of Marketing Strategy as Discourse (MSAD). Within the paper, we outline the role that discourse can perform as a resource to reconfigure our appreciation of marketing strategy.     

Effects of knowledge types on choice quality and perceptions of choice performance

Two types of knowledge used in making choices are examined: knowledge of product-specific information and knowledge of a choice strategy. Product-specific information comprises information about available alternatives, including features and their importance. Strategy information includes knowing an appropriate strategy for integrating and evaluating information about alternatives, as well as knowing how to implement the strategy. The effects of these knowledge types, both singly and jointly, upon choice quality and perceptions of choice quality are examined in two studies. The results of the first study indicate that the knowledge types are differentially beneficial, and that subjects tend to be more overconfident about the perceived quality of their choices when they have product-specific information than when they have choice strategy information. The hypothesis that this difference is due to subjects' greater awareness of produce-specific information, rather than strategy information, is examined and supported in the second study. Implications for marketing and public policy are discussed. © 1996 John Wiley & Sons, Inc.     

Customer Relationship Management: from Strategy to Implementation

This article examines Customer Relationship Management, or CRM, from the perspective of strategy formulation and implementation. We commence by reviewing the origins and role of CRM and highlighting the importance of adopting a cross-functional approach to CRM strategy formulation. We examine alternative approaches to CRM strategy development and, using an 'interaction research' approach, propose a model that addresses both CRM strategy and implementation. We identify four critical implementation components of a successful CRM programme and examine these in the context of five key cross-functional CRM processes. The model structure is used to help identify a research agenda     

Corporate Strategy and ethics

Corporate Strategy has emerged as a central metaphor for private-sector enterprise. Given inherent imperfections in markets, one important question to consider is how well the practice of Corporate Strategy contributes to social welfare. An account of the implicit morality of free markets is developed as a standard against which two particular, second best solutions to market imperfections — namely, American federal antitrust policy and Corporate Strategy — are compared. Corporate Strategy is subsequently evaluated in terms of the fundamental principles of Rawls' theory of justice. In both analyses, Corporate Strategy is found to depart significantly and systematically from the standards of social justice. An alternative principle, grounded in the concept of duty, is introduced as a means for reconceptualizing Corporate Strategy.Daniel R. Gilbert, Jr. is a doctoral student in the Strategic Management and Organization program, School of Management, University of Minnesota, and also serves as an Instructor in Strategic Management and a Research Associate in the Strategic Management Research Center.     

A framework for customer relationship management strategy orientation support in higher education institutions

ABSTRACT

A number of generic Customer Relationship Management (CRM) implementation frameworks have been developed, yet no systematic framework has been developed to help HEIs orientate CRM strategy to align with university business strategies and stakeholder needs. This research iteratively develops the CRM Strategy Orientation Support (CRM-SOS) framework, which aims to support HEIs in orientating their strategic CRM system at the pre-implementation stage and align CRM strategy with the business strategy; thus, reducing the chance that HEIs will experience CRM implementation failure. To reach our proposed CRM-SOS framework, we employed Design Science Research (DSR) methodology steps by analysing UK HEIs specific CRM implementation case studies, conducting semi-structured HEIs-based interviews, followed by evaluation of the resulted framework by HEI Information Systems (IS) experts. We concluded with a new CRM-SOS framework for HEIs consisting of five stages. The framework can be used to personalise the stages until they fit the strategic outputs and match the top management KPIs. Although existing research agrees that intensive attention should be given to CRM planning, there is no consensus or developed framework, for use within HEIs, demonstrating how CRM strategy can be orientated to align with university strategies and customer needs.     

Partner Symmetries,Partner Conflict and the Quality of Joint Venture Marketing Strategy: An Empirical Investigation

Joint venture research has overlooked the potential impact of partner conflict on the quality of joint venture marketing strategy. We address this issue by developing formal hypotheses concerning the antecedents to and consequences of functional and dysfunctional conflict between joint venture parent organisations on joint venture marketing strategy. We then describe an empirical examination of our model. Data collection was undertaken via a mail survey of New Zealand joint venture companies. Forty usable responses were returned, corresponding to a response rate of twenty-five percent. Correlation analysis of the data indicates that the degree to which partners exhibit both functional and dysfunctional conflict is influenced by (a) the degree to which joint venture partners share strategic and operational fit, (b) partners' level of mutual commitment, (c) levels of mutual trust, (d) opportunistic behaviours and (e) the adoption of collaborative communication approaches. Furthermore, both functional and dysfunctional partner conflict appear to significantly influence the quality of joint ventures' marketing strategy formulation and implementation. We discuss the managerial implications forthcoming from these results.     

Business Strategy and Poverty Alleviation

Currently, entrepreneurs and corporations overwhelmingly do not view the alleviation of global poverty as a strategic priority. Yet business activity can have a negative as well as a positive effect on each distinctive form of poverty. In order to reduce poverty, entrepreneurs have to find ways of limiting the negative aspects. This might be achieved by deliberately augmenting strategies so that they can achieve a synthesis, in partnership with governments and NGO’s. Alan E. Singer is a reader in strategy at the university of Canterbury. He was the 2004/5 Aram chair of Business Ethics at Gonzaga. He is author of Strategy as Rationality (Avebury), Co editor (with Pat Werhane) of Business Ethics in Theory and Practice (Kluwer) and editor of Business Ethics and Strategy (Ashgate, forthcoming). He has written journal articles on many aspects of strategy and decision making and has served on the editorial boards of Journal of Business Ethics (to 2003), Human Systems Management, Journal of International Entrepreneurship, African Journal of Business Ethics and the Journal of Economic Development and Business Policy.     

制度环境、产权性质与公司慈善捐赠--来自沪深A股上市公司的经验证据

公司慈善捐赠驱动因素的研究已有很多成果,但从制度环境和产权性质角度进行研究的很少。本文以沪深A股上市公司为样本,系统考察了制度环境、产权性质对公司慈善捐赠的影响。研究证实,中国各地区制度环境差异显著影响公司慈善捐赠,制度环境的改善促进了企业捐赠水平的提高,且这种正向影响在非国有控股企业表现更为明显。非国有控股企业捐赠水平高于国有控股企业,且在国有控股企业中,地方政府控股国有企业捐赠水平高于中央政府控股企业。这些结论对理解制度环境在促进企业捐赠中的作用,认识中国不同产权性质企业慈善行动的深层含义具有一定的启示意义。     

Firm size,strategic advantage,and profit rates in US retailing

Recent industrial economics and marketing strategy literature focuses on the importance of firm size in explaining cross-sectional variations in profit rate. Porter (Competitive Advantage: Creating and Sustaining Superior Performance, Free Press, New York, 1985; and Competitive Strategy: Techniques for Analyzing Industries and Competitors, Free Press, New York, 1998) argues that advantages accrue to large and small firms, while mid-sized rivals often find themselves “stuck in the middle”. For the general merchandize, apparel and restaurant industries, estimation of a cubic relationship between firm size and return on assets reveals the positive, negative, positive pattern for the linear, squared and cubed firm size terms that is consistent with Porter's hypothesis. Moreover, model coefficients indicate an increased dominance of large firms in certain retail markets.     

基于浙商公司战略的项目组合决策模型研究——以浙江传化集团为例

战略管理决定公司的前进方向,而项目管理则是方法.许多企业决策效率低下的一个重要原因,就是项目实施与战略不匹配,且缺乏组织保障.现代企业竞争表明"战略是通过项目来实现的,而每个项目都应和组织的战略有明确的联系."[1]随着市场竞争的集成化和体系化,部分浙商原先存在的决策的随机性和执行的随意性问题亟需扬弃.因此,如何将企业的战略管理与项目管理有机集成,有效解决战略规划和项目管理不能"联网"的问题,将成为浙商重要的决策选项.建立两者的互动机制,有助于减少浙商决策的随意性,提升决策效率和组织智能,帮助浙商决策管理走向科学化规范化.本文以传化集团多元化决策及其有效执行为例,分析了浙商的决策行为及其变化过程.