股票证券-汇聚资讯汇聚证券内参1汇 精品

Revealed Comparative Advantage for a Certain Broad Product Categories
Food, drink & tobacco Raw materials Oil & refined products Chemicals Machinery and transportation equipment Other manufacturers
International Trade HIGH
Trading Industries
--aerospace --military hardware --diamond mining --agriculture
Global Industries
--automobiles --oil --semiconductors --consumer electronics
情趣内衣 http://www.xinriai.com
Global Strategies and the Multinational Corporation
OUTLIN E
• Implications of International Competition for Industry Analysis
-- Domestic market conditions
-- Government policies
-- Exchange rates
-- Related and supporting industries
National Influences on Competitiveness: The Theory of
Malaysia
Guatemala
Collectivist
International Location of Production
Domestic Industries
--railroads --laundries/dry cleaning --hairdressing --milk
Multidomestic Industries
--retail banking --hotels --consulting
LOW
Foreign Direct Investment
Key Success Factors
COMPETITIVE ADVANTAGE
THE NATIONAL ENVIRONMENT
-- National resources and capabilities (raw materials; national culture; human resources; transportation, communication, legal infrastructure
• U.S. is relatively more efficient in the production of
semiconductors and pharmaceuticals than shoes or shirts.
When exchange rates are well-behaved, comparative advantage becomes competitive advantage.
• Multinational Strategies: Globalization versus National Differentiation
• Strategy and Organization of the Multinational Corporation
Patterns of Internationalization
– In the semiconduictor industry, CA-based firms concentrate mainly upon design of advanced chips, Malaysian firms concentrate upon fabrication of high volume, less technologically advanced items (e.g. DRAM chips)
--- greater diversity of competitors • Increased buyer power: wider choice for dealers & consumers
COMPETITION • Increased intensity of competition
PROFITABILITY • Other things remaining equal, internationalization tends to reduce an
– Dispersion of value chain to exploit different national environments (e.g. Nike conducts R&D in US, components in Korea and Thailand, assembly in Indonesia, China, and India, marketing in Europe and North America)
Comparative Advantage
A country has a relative efficiency advantage in those products that make intensive use of resources that are relatively abundant within the country. E.g.
.29 .40
Note: Revealed comparative advantage for each product group is measured as: (Exports less Imports)/ Domestic production
Porter’s Competitive Advantage of Nations
Consistency Between Strategy and National Conditions
In globally-competitive industries, firm strategy needs to take account of national conditions:
– U.S. textile manufacturers must compete on the basis of advanced process technologies and focus on high quality, less price-sensitive market segments
USA Canada .31 .28 .43 .51 -.64 .34 .42 -.16 .12 -.19
W. Germany -.36 -.55 -.72 .20 .34
-.68 -.07
.01Байду номын сангаас
Italy Japan -.29 -.85 -.30 -.88 -.74 -.99 -.06 -.58 .22 .80
• Analyzing Competitive Advantage within an International Context
• Applying the Framework (1) International location of production (2) Foreign market entry strategies
industry’s margins & rate of return on capital
Competitive Advantage within an International Context: The Basic Framework
FIRM RESOURCES & CAPABILITIES
Porter’s National Diamond Framework
DEMAND CONDITIONS
FACTOR CONDITIONS
RELATING AND SUPPORTING INDUSTRIES
STRATEGY, STRUCTURE, AND RIVALRY
1. FACTOR CONDITIONS—“Home grown” resources/capabilities more important than natural endowments.
2. RELATED AND SUPPORTING INDUSTRIES—Key role of “industry clusters” 3. DEMAND CONDITIONS—Discerning domestic customers drive quality & innovation 4. STRATEGY, STRUCTURE, RIVALRY. E.g. domestic rivalry drives upgrading.
National cultures: “power difference” & “uncertainty avoidance”
Uncertainty avoidance
Israel
Japan Korea
France
Mexico
USA Denmark
India
Malaysia Philippines
-- Financial resources -- Physical resources -- Technology -- Reputation -- Functional capabilities -- General management
capabilities
THE INDUSTRY ENVIRONMENT
HIGH
LO W
Implications of Internationalization for Industry Analysis
INDUSTRY STRUCTURE • Lower entry barriers around national markets • Increased industry rivalry --- lower seller concentration
Power distance
National cultures: individualism/collectivism
UK USA Aust.
Germany
Japan India
Denmark France
Italy
Israel
Individualist
Mexico
Philippines
Korea Venezuela
• Philippines relatively more efficient in the production of footwear, apparel, and assembled electronic products than in the production of chemicals and automobiles.
Extends and adapts traditional theory of comparative advantage to take account of three factors: ▪ International competitive advantage is about companies not countries—the role of the national environment is providing a home base for the company. ▪ Sustained competitive advantage depends upon dynamic factors-- innovation and the upgrading of resources and capabilities ▪ The critical role of the national environment is its impact upon the dynamics of innovation and upgrading.