Output flexibility—A competitive advantage for small firms

We explore three theoretical perspectives that look at output flexibility as a competitive advantage for small firms as was initially described by Stigler (1939). First, small firms are more willing to fluctuate their output. As a result: second, small firms can trade cost inefficiency with volume flexibility to increase their profits; third, output flexibility is a more viable source of competitive advantage in volatile and capital-intensive industries, and less viable in profitable industries. Indeed, the empirical analysis of over 3000 companies representing 83 industries during the 1979-87 time period supports our theoretical perspectives. Future research directions that combine firm flexibility and other strategic dimensions are discussed in the context of providing a general strategic framework for small firms competing against large ones.     

Equilibrium market share—a measure of competitive strength

If an oligopoly is modelled as a non-zero-sum game, then the market shares associated with an equilibrium solution can be interpreted as measuring the competitive strength of the firms. By comparing afirm's equilibrium market share with its actual market share, one can conclude whether the firm has positive or negative growth potential in terms of market share, which has some implications for its investment strategy.     

Vibration monitoring—a programmed approach

Experience indicates that machinery vibration monitoring programs are most effective when planned in accordance with carefully established program goals and objectives. Methods are presented to determine the appropriate monitoring program for a given plant, key issues to address in program planning, and proven techniques for successfully implementing the program.     

A project-based approach to competitive analysis

While comprehensive, ongoing competitive intelligence systems generate valuable input for broad strategic decisions, they often fail to provide the specific actionable information needed by managers operating in a project-oriented environment. This paper proposes a project-based framework for competitive analysis. The framework was developed from field reseach involving 16 projects. A comparison of project-based and comprehensive competitive analysis systems is made to illustrate their differences. A case example from field research is utilized to illustrate concepts central to this approach and its practical utility. A set of guidelines regarding pitfalls to avoid in project-based competitive analysis is presented.     

Porter's ‘competitive advantage of nations’: An assessment

Porter's Competitive Advantage of Nations is an important book which bridges the gap between strategic management and international economics while contributing substantially to both. Porter's analysis of the impact of national environment on international competitive performance demonstrates the potential for the theory of competitive strategy to rescue international economics from its slide into refined irrelevance, while simultaneously broadening the scope of the theory of competitive strategy to encompass both the international dimension and the dynamic context of competition. Nevertheless, the breadth and relevance of Porter's analysis have been achieved at the expense of precision and determinancy. Concepts are often ill defined, theoretical relationships poorly specified, and empirical data chosen selectively and interpreted subjectively.     

Corporate management of productivity—An empirical study

The results are reported of a questionnaire survey of corporate managerial approaches to productivity. The sample comprised 146 large industrial companies, of which 96 were American, 25 British and 25 Japanese. Responses from the total sample were used to construct a managerial interpretation of productivity. A comparison was then conducted among the three national samples. Although productivity improvement was reported as being a matter of significant corporate concern in all three countries, greater priority was expressed by the British and Japanese than by the American managers. The British and American managerial approaches to productivity appear to be broadly similar, but with the exception that the British focus much more single-mindedly on labour productivity as the central issue. The Japanese responses convey a proactive, long-term approach to the management of productivity, with research and innovation being accorded to pre-eminent role. The implications of the findings are briefly discussed and directions for further research are suggested.     

Acceptable risk—an overview

This paper offers an overview of the concept of acceptable risk. Variations in the definition of risk are addressed as well as criteria for measuring and evaluating risk. Risk acceptance depends on many factors, some of which are highlighted. The myth of zero risk is addressed with relevant examples such as dioxin and the U.S. space program. Practical applications of acceptable risk concepts are discussed, featuring the RISK MATRIX from system safety MIL-STD-882. Some sample guidelines and benchmarks are offered.     

Lomé 2 — little change likely

Foreign ministers from 57 African, Caribbean and Pacific (ACP) countries met in Brussels, 24–26 May 1979, to negotiate a successor to the Lomé Convention. They came to the conference hoping for something more than just a renewal of the 5-year Convention. They were looking for a trade and aid deal that would make a bigger contribution to their development efforts.     

Country—specific advantage and international cooperation

This paper tests the hypothesis that country-specific advantage embedded in firms of a particular nationality is a motivation for international interfirm cooperation. A sample of domestic and international cooperative relationships formed by Japanese firms in the commercialization of biotechnology is used to identify factors which differentiate domestic from foreign partners. The findings support our hypothesis that country-specific advantage is a significant variable in explaining differences between cooperative relationships with partners of different countries. The results of this study indicate that interfirm cooperation has implications for the international competitiveness of both firms and nations in high technology industries.     

UK Carter committee report— far-reaching implications

As the second largest employer in the UK — second only to the government itself — and as an organization whose services are used by virtually every inhabitant of the UK, the Post Office (PO) periodically finds itself the subject of an anlytical review. The latest such review of the PO's activities, organizational structure and relationship to the public it serves is by most tokens the most far-reaching. This article analyses the findings relating to telecommunications of the Report of the Post Office Review Committee (‘Carter Committee’).     

An examination into the causal logic of rent generation: contrasting Porter's competitive strategy framework and the resource‐based perspective

In this study we revisit some fundamental questions that are increasingly at the heart of current strategic management discourse regarding the relative impact of industry and firm‐specific factors on sustainable competitive advantage. We explore this issue by referring to respective assertions of two major perspectives that dominate the literature over the last two decades: the Porter framework of competitive strategy and the more recent resource‐based view of the firm. A composite model is proposed which elaborates upon both perspectives' divergent causal logic with respect to the conditions relevant for firm success. Empirical findings suggest that industry and firm specific effects are both important but explain different dimensions of performance. Where industry forces influence market performance and profitability, firm assets act upon accomplishments in the market arena (i.e., market performance), and via the latter, to profitability. The paper concludes with directions for future research that will seek to integrate both content and process aspects of firm behavior. Copyright © 2001 John Wiley & Sons, Ltd.     

CAD—The‘Taylorisation’of drawing office work?

CAD has been described as a'Trojan horse'through which drawing office work will be deskilled. This article rebuts the crude Tayloris-ation thesis which underlines such views and offers an alternative analysis of the effects of CAD .     

An approach for allocating sales call effort

This article describes a conceptual framework for developing a sales call effort allocation plan that considers, on an account-by-account basis, a variety of influences on the productivity of sales effort. The inputs needed for using the framework are jointly provided by sales managers and sales-people. A practical illustration of the framework is provided, and the benefits and limitations of the framework are discussed.