全球战略管理ppt 4
合集下载
相关主题
- 1、下载文档前请自行甄别文档内容的完整性，平台不提供额外的编辑、内容补充、找答案等附加服务。
- 2、"仅部分预览"的文档,不可在线预览部分如存在完整性等问题,可反馈申请退款(可完整预览的文档不适用该条件!)。
- 3、如文档侵犯您的权益，请联系客服反馈,我们会尽快为您处理(人工客服工作时间：9:00-18:30)。
Informal institutions – internalized, taken for granted values and beliefs that guide individual and firm behaviour E.g. Enron’s wrongdoing was related to how they perceived right and wrong 13
Porter’s “diamond” model explains competitive advantage of globally leading industries in different countries, criticized for ignoring history and institutions
9
Institutions
Definitions
“Humanly devised constraints that structure human interaction” (North) “Regulatory, normative, and cognitive structures and activities that provide stability and meaning to social behavior” (Scott)
Collapse of the formal institutional regime in the former Soviet Union facilitated growth of entrepreneurial firms
21
Two Core Propositions
Even in developed economies, the best connected firms can reap significant benefits Politically sophisticated firms usually win some form of government protection
Institutions
What Do Institutions Do?
Key function - Reduce political, economic, market uncertainty Reduce transaction costs in doing business
14
Institutions
10
Three Pillars
The Regulatory Pillar (the coercive power of governments)
Formal institutions - laws, regulations, rules
11
Three Pillars
The Normative Pillar (culture)
2
Acknowledgement
The following slides are based on Power Point slides, copyright Deng (2009), and Original slides prepared by the Lecturer
3
Learning Outcomes
Informal institutions – values, beliefs and actions, called norms, which influence the behaviour of individuals and firms
12
Three Pillars
The Cognitive Pillar (ethics)
18
DOMESTIC DEMAND CONDITIONS
Institutions, Firms, and Strategic Choices
Sources: Adapted from (1) M. W. Peng, 2000, Business Strategies in Transition Economies (p. 45), Thousand Oaks, CA: Sage Publishing.; (2) M. W. Peng, 2002, Towards an institution-based view of business strategy (p. 253), Asia Pacific Journal of Management, 19 (2): 251–267.
Availability of lower priced generic drugs Lower priced Drugs available over the Internet Governments also subsidize drugs
7
INSTITUTIONS
Governments determine what is ‘good public governance’ and may create or improve a series of institutions that potentially enhance business opportunities and conditions, e.g.
17
The Porter Diamond: Determinants of National Competitive Advantage
FIRM STRATEGY, STRUCTURE, RIVALRY COUNTRY FACTOR ENDOWMENT RELATED & SUPPORTING INDUSTRIES
22
Hofstede’s Dimensions of Cultural Values
How Do Institutions Reduce Uncertainty?
Relational contracting - informal, relationship-based, personalized exchanges Arm‘s length transaction - formal, rule-based, impersonal exchange with third part enforcement Institutional transitions - fundamental and comprehensive changes to the rules that affect all organizations
Figure 4.4
19
Two Core Propositions
Managers and firms rationally pursue their interests and make strategic choices within institutional constraints
Opening Case: Japanese pharmaceutical firms do not as relentlessly pursue new innovations as US firms do
At the end of this session Students should have an understanding of: Institutional perspectives on global strategy
4
PROFITABILITY & BIG PHARMA
The pharmaceutical industry is one of the biggest and most profitable industries in the world The Big Pharma – e.g. Merck, Eli Lilly, Bristol-Myers, Pfizer (US) GlaxoSmithKline, Wellcome (UK) Hoffman La Roche, Ciba Geigy, Novartis, Sandoz (Switzerland) High investment in R & D
15
An Institution-Based View of Strategy
There is a need to discuss the relationship between strategic choices and institutional frameworks Influence of task environment has been explored in strategy literature
20
Two Core Propositions
Whilห้องสมุดไป่ตู้ formal and informal constraints combine to govern firm behavior, when formal constraints fail, informal constraints play a larger role
The financial sector Regulatory frameworks and institutions
8
INSTITUTION-BASED VIEW
When crafting strategy There is a need to take into account:Resource-based view Industry-based view Institutions-based view
6
PROFITABILITY & BIG PHARMA
But does not always work in a more global environment when other governments policies and institutions support lower costs
16
An Institution-Based View of Strategy
Strategic choices are selected within and constrained by institutional frameworks in developed economies Striking differences between institutions in developed and emerging economies has pushed the institution-based view to the forefront Strategic choices are direct outcomes of the dynamic interaction between institutions and firms
5
PROFITABILITY & BIG PHARMA
How the institutions of government support the industry is a key determinant of competition
Food & Drug Admin. US, standards effectively create barriers to entry E.g. prohibition on cheaper imported drugs Higher prices for drugs than elsewhere 50 million not insured suffer
Emphasizing Institutions, Cultures, and Ethics (4)
GSM
1
Outline
Understanding institutions An institution-based view of strategy The strategic role of cultures The strategic role of ethics A strategic response framework Debates and extensions Implications for strategists
Porter’s “diamond” model explains competitive advantage of globally leading industries in different countries, criticized for ignoring history and institutions
9
Institutions
Definitions
“Humanly devised constraints that structure human interaction” (North) “Regulatory, normative, and cognitive structures and activities that provide stability and meaning to social behavior” (Scott)
Collapse of the formal institutional regime in the former Soviet Union facilitated growth of entrepreneurial firms
21
Two Core Propositions
Even in developed economies, the best connected firms can reap significant benefits Politically sophisticated firms usually win some form of government protection
Institutions
What Do Institutions Do?
Key function - Reduce political, economic, market uncertainty Reduce transaction costs in doing business
14
Institutions
10
Three Pillars
The Regulatory Pillar (the coercive power of governments)
Formal institutions - laws, regulations, rules
11
Three Pillars
The Normative Pillar (culture)
2
Acknowledgement
The following slides are based on Power Point slides, copyright Deng (2009), and Original slides prepared by the Lecturer
3
Learning Outcomes
Informal institutions – values, beliefs and actions, called norms, which influence the behaviour of individuals and firms
12
Three Pillars
The Cognitive Pillar (ethics)
18
DOMESTIC DEMAND CONDITIONS
Institutions, Firms, and Strategic Choices
Sources: Adapted from (1) M. W. Peng, 2000, Business Strategies in Transition Economies (p. 45), Thousand Oaks, CA: Sage Publishing.; (2) M. W. Peng, 2002, Towards an institution-based view of business strategy (p. 253), Asia Pacific Journal of Management, 19 (2): 251–267.
Availability of lower priced generic drugs Lower priced Drugs available over the Internet Governments also subsidize drugs
7
INSTITUTIONS
Governments determine what is ‘good public governance’ and may create or improve a series of institutions that potentially enhance business opportunities and conditions, e.g.
17
The Porter Diamond: Determinants of National Competitive Advantage
FIRM STRATEGY, STRUCTURE, RIVALRY COUNTRY FACTOR ENDOWMENT RELATED & SUPPORTING INDUSTRIES
22
Hofstede’s Dimensions of Cultural Values
How Do Institutions Reduce Uncertainty?
Relational contracting - informal, relationship-based, personalized exchanges Arm‘s length transaction - formal, rule-based, impersonal exchange with third part enforcement Institutional transitions - fundamental and comprehensive changes to the rules that affect all organizations
Figure 4.4
19
Two Core Propositions
Managers and firms rationally pursue their interests and make strategic choices within institutional constraints
Opening Case: Japanese pharmaceutical firms do not as relentlessly pursue new innovations as US firms do
At the end of this session Students should have an understanding of: Institutional perspectives on global strategy
4
PROFITABILITY & BIG PHARMA
The pharmaceutical industry is one of the biggest and most profitable industries in the world The Big Pharma – e.g. Merck, Eli Lilly, Bristol-Myers, Pfizer (US) GlaxoSmithKline, Wellcome (UK) Hoffman La Roche, Ciba Geigy, Novartis, Sandoz (Switzerland) High investment in R & D
15
An Institution-Based View of Strategy
There is a need to discuss the relationship between strategic choices and institutional frameworks Influence of task environment has been explored in strategy literature
20
Two Core Propositions
Whilห้องสมุดไป่ตู้ formal and informal constraints combine to govern firm behavior, when formal constraints fail, informal constraints play a larger role
The financial sector Regulatory frameworks and institutions
8
INSTITUTION-BASED VIEW
When crafting strategy There is a need to take into account:Resource-based view Industry-based view Institutions-based view
6
PROFITABILITY & BIG PHARMA
But does not always work in a more global environment when other governments policies and institutions support lower costs
16
An Institution-Based View of Strategy
Strategic choices are selected within and constrained by institutional frameworks in developed economies Striking differences between institutions in developed and emerging economies has pushed the institution-based view to the forefront Strategic choices are direct outcomes of the dynamic interaction between institutions and firms
5
PROFITABILITY & BIG PHARMA
How the institutions of government support the industry is a key determinant of competition
Food & Drug Admin. US, standards effectively create barriers to entry E.g. prohibition on cheaper imported drugs Higher prices for drugs than elsewhere 50 million not insured suffer
Emphasizing Institutions, Cultures, and Ethics (4)
GSM
1
Outline
Understanding institutions An institution-based view of strategy The strategic role of cultures The strategic role of ethics A strategic response framework Debates and extensions Implications for strategists