Incorporating choice dynamics in models of consumer behavior

This paper presents a framework for organizing and discussing factors influencing consumer choice dynamics, how these factors may be incorporated into models of buyer behavior and problems that may arise in estimating such models. The paper identifies research issues and delineates possible approaches. Proceedings of Session on Choice Dynamics at the Banff Symposium on Consumer Decision-Making and Choice Behavior. All authors share equally in content and remaining errors.     

Avoiding Over-Reliance on a Single Large Customer: The Impact of Technical Capability,Product Development and Alternative Key Customers

ABSTRACT

This study examines three investments that component suppliers can make to circumvent their large customers' ability to achieve significant power advantages. A large scale survey of component suppliers was conducted approximately 12 to 24 months after Original Equipment Manufacturers (OEMs) began flexing their increased purchasing power to demand price reductions and costly design services. The results show that suppliers' technical capability, suppliers' efforts to develop segment-focused products, and supplier investments to build relationships with alternative key customers lessened their large customers'power advantage. The urgency of balancing relationships with large OEMs is illustrated with the finding that customers'power advantage has a strong negative influence on the suppliers'forecast ofc their own performance. In contrast, no relationship between forecasted performance and the level of interdependence between large OEMs and their suppliers was found. The rapid increase of customer power across a broad range of industries has placed many companies in situations similar to the component suppliers investigated in this study. Thus, the outcomes of these suppliers'investments should be of interest to a large audience of managers. The theory used to frame and examine this important managerial situation provides a vantage point that complements the work done by other researchers.     

Make pricing power a strategic priority for your business

In the face of rising business complexity and competitive pressure, many firms succumb to price pressures and enter pricing wars. Others focus on creating, quantifying, and capturing pricing power from their market. Since 2011, with help from Warren Buffet and Jim Cramer, Wall Street financial analysts have begun paying close attention to firms with great pricing power. But what is pricing power? How do firms know whether they have it? And how does it affect profit? This research, based on a survey of 128 organizations, identifies and validates the drivers of pricing power and its impact on firm performance. In this article, I create and validate a pricing power assessment instrument that firms can use to get started. This article offers practical recommendations for go-to-market functions on how to start the pricing power discussion, how to measure it, and how to operationalize it.     

The power of business models

Over the past few years, “business models” have surged into the management vocabulary. But, while it has become quite fashionable to discuss business models, there is still much confusion about what business models are and how they can be used. In fact, business models can serve a positive and powerful role in corporate management. While other authors have recently offered definitions of “business model,” none appear to be generally accepted. This lack of consensus may in part be attributed to interest in the concept from a wide range of disciplines, all of which have found a connection to the term. To help managers better understand business models, this paper reviews the extant literature and identifies and classifies the components of business models cited therein. Components were classified into four primary categories: strategic choices, the value network, creating value, and capturing value. To address the absence of a generally accepted definition of a business model, a new definition that integrates and synthesizes the earlier work is offered. Based on the proposed definition, business models are then contrasted with strategy. Four problems associated with business models are also discussed.     

Revisiting the European Horsemeat Scandal: The Role of Power Asymmetry in the Food Supply Chain Crisis

This study explores the role of power asymmetry in the food supply chain, especially in relation to the channel conflict, and ultimate breakdown that culminated in the infamous European horsemeat scandal across Europe. Drawing upon the power‐dependency, and to some extent, social exchange theory, the study posits that mutual dependence between single supplier–multiple buyer relationships where major retailers are the weaker partners, may require a revisitation of risk management practices in that sector. In addition to the fraudulent and unethical practices established from media reporting on the horsemeat scandal, the study argues that the power asymmetry/imbalance may have contributed to a supplier culture that tolerated the unethical decision making leading to the horsemeat scandal. Based on an extensive review of secondary data sources comprising media reports on the scandal and a review of the academic literature on power dependency and social exchange theories, the study attempts to map out the root of the crisis, how to forestall future recurrence, and the managerial and policy implications of these. © 2016 Wiley Periodicals, Inc.     

The role of consumers' network positions on information-seeking behavior of experts and novices: A power perspective

Results from two studies demonstrate that depending on consumers’ network positions (peripheral or central), experts and novices behave differently when seeking information about their networks or products related to those networks. Experts in central network positions (vs. peripheral) seek more network-related information, while novices in the same positions seek more product-related information. In contrast, experts in peripheral network positions (vs. central) seek more product-related information, while peripheral novices seek more network-related information. Findings also suggest that desire for power (social or personal) mediates these relationships. Given the importance of social networks in consumer decision making, this research demonstrates the influence and importance of consumer's network position on information-seeking behavior of experts and novices.     

Exploring the governance mechanisms of quasi-integration in buyer-supplier relationships

This article deals with quasi-integration governance mechanisms in the context of business-to-business buyer-seller relationships. Based on transaction cost analysis and resource dependence theory, the authors identify four key elements of quasi-integration: legal contract, joint problem solving, joint planning, and collaborative communication. From the perspective of resource dependence theory, the authors examine the effects of interdependence on these four elements. Empirical evidence derived from a study of 398 Chinese companies indicates that (1) the four governance mechanisms of quasi-integration are driven by inter-firm dependence; and that (2) legal contract serves as an important foundation of joint problem solving. In addition, the authors examine the distinct effects of the four elements on two critical exchange outcomes: supplier performance and buyer commitment. Their analysis shows that legal contract, joint planning, and collaborative communication positively affect supplier's performance, while joint problem solving and collaborative communication significantly enhance the buyer's commitment to the relationship.     

Global supply network embeddedness and power: An analysis of international joint venture formations

As a subset of the international business literature, cross-border equity based partnerships have drawn significant academic attention. In the context of inter-firm partnerships, the power dynamics between parties and the implications that power has on the relational dynamics between firms is an important consideration. Research that connects power with network theory has recently emerged, suggesting that the network, as a source of power, plays a significant role in inter-firm dynamics. Yet, while there has been a substantial body of work either articulating the antecedents and consequences of power, little research has paid attention to the role that power plays in international JV formations; this presents a significant gap in the international business literature. Consequently, this study investigates the role that global network structure plays in the formation of new equity based international partnerships. Secondly, it contributes to the international JV literature by developing and testing a theoretical framework that examines inter-firm power dynamics as derived from the network position of each firm in the global network. Global network prominence, brokerage and weakness are key factors utilized in the analysis. The hypotheses are tested using a global manufacturing joint venture longitudinal dataset that contains 985,689 observations from 1985 to 2003. The results of the event history analysis indicate that for the manufacturer global network prominence, brokerage and weakness play an important role in new joint venture formations. On the other hand, only global network prominence is a significant factor for the potential partner.     

Customer portfolio planning in a business network context

In an increasingly globalised business environment, it is no longer adequate to analyse and develop supplier-customer relationship portfolios without consideration of a firm's network relationships. While research in business relationships has examined resource allocation and strategy development in the context of a dyadic relationship, portfolios and network relationships, little is known about the network effects of a focal firm's relationships on its performance particularly from both supplier and customer evaluations. The present study attempts to fill this gap by developing a customer portfolio framework that includes four levels of business relationships, and integrates a resource-based view and industry determinants of competitive advantage. The proposed framework is applied and analysed using data of UK-based food service companies. The main results show that a focal relationship performance is influenced by both industry and resource-based advantages in a business network context. The results also suggest that a focal firm can better enhance its competitive position with the knowledge of network effects and interdependence of strategic actions in a business network context.     

The nature and dynamics of counter-implementation in strategic marketing: a propositional inventory

This paper highlights the idea that a broader perspective is needed in research into barriers to marketing implementation. It is suggested that this broader perspective should take account of contextual and behavioural issues along with an acknowledgement of implementation as a process. The nature and dynamics of counter-implementation are introduced and a propositional inventory that explicates such behaviour as encompassing actions that may be both intentional and unintentional in nature is developed.These actions may occur at the individual and group level as they evolve over the implementation process and may be both constructive and destructive to organizational performance. Particular emphasis is given to intentional counter-implementation behaviour in terms of how it initiates, manifests and develops, gaining momentum through the transition from individual level action to collective action and, therefore,greater potential leverage for successfully sabotaging implementation efforts. The paper offers implications for management and a research agenda is proposed that highlights content, context and process perspectives for future research in this area, as well as potential methodologies for future research.     

用于天线阵馈电的新型三等分功分器设计

为了解决传统三等分功分器输出支路跨接隔离电阻实现困难的问题,基于Wilkinson 功率分配器设计理论,通过引入二分之一波长微带传输线,提出了一种新型微带三等分功率 分配器的设计方法。基于此方法,设计了一款应用于海事卫星通信频段的对称结构三等分功 分器。实测结果表明该功分器在整个设计频带内各端口匹配好,各输出支路等分度好、隔 离度高。该功分器已成功应用于天线阵馈电网络的设计。     

Legitimizing the apprenticeship practice in a distant environment: Institutional entrepreneurship through inter-organizational networks

This paper asks how Multinational Enterprises (MNEs) engage in institutional entrepreneurship to successfully transfer the organizational practice of apprenticeship-based training from Continental Europe to the distant host environment of the United States. In our case study, we highlight the important role of inter-organizational networks to coordinate engagement with the cognitive, normative, and regulative pillars of host country institutions. This networked form of institutional entrepreneurship involves the formation of inter-organizational networks for the purpose of bringing about institutional change collaboratively. In the process of transferring apprenticeship, a particular vision of workforce training was created, support gathered, and institutional change was sustained locally around the issue of training. We argue further that networked institutional entrepreneurship is a useful strategic tool to overcome the particular kind of institutional distance between the institutional settings of more coordinated market economies (CMEs) and more liberal market-oriented economies (LMEs). We contribute to existing knowledge by showing how practice transfer is shaped by particular kinds of institutional distance, and highlighting the role of inter-organizational networks as a way of governing collective agency associated with institutional entrepreneurship and the emergence of new local proto-institutions.     

The contribution of internalisation theory to international business: New realities and unanswered questions

This paper sets out the importance of internalisation theory to international business research and practice. It examines the context against which the theory has been developed, the environmental conditions in which the multinational enterprise has evolved and the phenomena that the theory has explained. It also examines the challenge to the theory of “unanswered questions”. These include governance, location theory, dynamics, networked multinationals, innovation, entrepreneurship and the role of risk and uncertainty.     

商务英语教学中计算机网络利弊分析

本文通过分析计算机网络在商务英语中的利与弊,探讨计算机网络在商务英语教学中的作用,指出随着信息技术的发展,计算机网络的作用早已远远超出其辅助功能.培养复合型涉外商务英语人才,应打破传统的商务英语教学模式,建立新的以学生为中心的教学模式,强调商务环境下的语言训练.同时,学生不仅要掌握商务英语知识和技能,也要掌握计算机方面的知识和技能.     

并联磁路移相的原理及其逆变电源中的应用

利用磁路与电路中一些类同的特点,仅采用一副控制变压器铁芯,就能使两个相同频率的电压之间产生O°～180°的相位差角.应用这个原理,可将单相、两相和三相逆变电源的电路结构大大简化,或提高其性能指标.     

太阳能无线传感器网络节点传输功率策略优化

针对配备太阳能采集设备的无线传感器网络节点,以如何合理使用采集到的能量使得时间期限内点对点传输的数据量最大为优化目的,结合必要的约束条件（能量获取电池只有有限的能量存储能力以及能量因果关系）,建立了数据传输的能量通道优化模型,通过能量通道策略优化算法得到了最优传输功率策略。与当前普遍使用的能量即到即用方法进行了性能对比,仿真发现系统累积传输了更多的数据量,性能提升明显。在此基础上,考虑了实际太阳能获取量与预测值的偏差,提出了改进的能量通道算法,使得其更加适应于实际场景中。     

An institution-stakeholder framework for examining business relationship dynamics in a transforming Eastern Europe

Since the collapse of the USSR, most Central and East European countries have been integrated into global economic institutions through membership in the WTO and EU significantly changing the regional business climate. Through an in-depth analysis of a petroleum pipeline project initiated in Ukraine, a country on the EU's periphery, this research presents a framework based on institutional climate and stakeholder levers of influence for explaining the type of existing and evolving business relationships in the region. A relational matrix for Eastern Europe is developed with a set of guidelines for global firms and investors seeking markets in the region.     

Americanization as a driver of CEO pay in Europe: The moderating role of CEO power

This paper examines the relationship between Americanization and CEO pay levels in Europe and how this relationship is moderated by CEO power. Based on neo-institutional theory, our study provides empirical support for a link between Americanization and CEO pay levels. Drawing on a sample of large listed European firms, our results suggest that various dimensions of Americanization, i.e., Americanization of the CEO, of the firm and of the industry, can be associated with higher CEO pay. Combining neo-institutional approaches with managerial power perspectives, we show that Americanization can have an even stronger effect on pay when the CEO is powerful.     

The power relationships of brand managers

This study tests the strategic contingencies theory of power among consumer and industrial brand managers, along with an extension to the theory that hypothesizes interactions between the control of contingencies and environmental factors. Data were collected through a national mail survey of brand managers. Strategic contingencies theory is supported, with clear results that the centrality of a department, its amount of financial control, communication with the brand manager, and its total control of contingencies are positively associated with departmental power. We find modest support for the hypothesis that environment moderates the effects of strategic contingencies on power.     

The distinct influence of power distance perception and power distance values on customer satisfaction in response to loyalty programs

In today's fiercely competitive environment, firms are increasingly relying on loyalty programs to influence customers' repeat purchase behavior. However, little is known about how customers' cultural values shape their satisfaction in response to loyalty programs. Such knowledge is important because it allows marketers to identify cultural segments that may be more or less likely to respond favorably to loyalty programs, and hence increase the effectiveness of such programs. In the current research, we propose that power distance perception — defined as the extent to which people observe power disparities in society — positively influences satisfaction of customers who hold loyalty status, but negatively influences satisfaction of customers who do not hold loyalty status with a firm. In contrast, power distance values — defined as the extent to which people endorse power disparities in society — negatively influences satisfaction of customers who hold loyalty status, but positively influences satisfaction of customers who do not hold loyalty status with a firm. A quasi-field study and several lab experiments support these propositions, shed light on the underlying mechanisms, and rule out alternative explanations. Our findings also uncover several distinct tools that marketers could use to influence non-loyalty status and loyalty status customers' satisfaction with businesses.