International Strategy and Organization (ISO) ( Advanced Topics: Networks of the MNC )
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Transcript of International Strategy and Organization (ISO) ( Advanced Topics: Networks of the MNC )
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International Strategy and Organization (ISO) (Advanced Topics: Networks of the MNC)
Josef WindspergerProfessor of Organization and Management
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International Strategy and Organization (ISO) (Advanced Topics: Networks of the MNC)
Lecturer: Josef Windsperger
E-mail: [email protected]
Homepage: www.univie.ac.at/IMPhone: 00431-4277-38180
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3
The course consists of two parts (Hs. 4):A.Lectures on ISO: 7. 4. , 28. 4., 5.5. 2006, 9.00 – 13.00 (course material is published on the web page: www.univie.ac.at/im under ‘Lehrveranstaltungen’).B.Case Studies on ISO: 12.5. (9-13.00) , 19. 5. (9 – 14.30) and 16.6. 2006 (9.00 – 13.00) and 17. 6. 2006 (9 – 13.00)
The public lectures are on Friday (11.00 – 12.30); for details see www.univie.ac.at/im.1. Public Lecture: May 5, 2006: 11.00, Hs. 4Headquarter-Advantages of Vienna in CEE (Mag. Thumser, CEO Henkel Austria 2. Public Lecture: May 19, 2006: 11.00, Hs. 4 International Market Entry through Franchising (Mag. W.Martius, Synchon International)
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ContentPart I
1 MNC as Global Network: Existence and Evolution1.1 Product Life Cycle Theory1.2 Transaction Cost Theory1.3 Eclectic Theory1.4 Network Approach
2 Culture, Strategy and Organization of the MNC2.1 Country and Organization Culture2.2 Strategy and Organization Design
3. Theoretical Foundations of Networks3.1 Economic Approaches of Networks3.2 Efficiency of Network Design3.3 Networks, Trust and IT
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Content
Part II
4 Design und Management of Networks of the MNC
4.1 International Licensing
4.2 International Strategic Alliances and Joint Ventures
4.3 International Franchising-Networks
4.4 Networks and M&As
4.5 Market Entry through Networks: An Integrative Approach
4.6 Internationalization through Countertrade
4.7 International Clusters
5 Organization Design of the MNC of the Future
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1 MNC als Global Network 1.1 Product Life Cycle Theory
Vernon (1966):
Extension of the product life cycle view to
explain the internationalization of the firm.
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1.2 Transaction Cost Theory
Transaction costs =» costs of using the price mechanism (Coase 1937)
Search costs
Information costs
Costs of decision making
Negotiation costs
Planning period:Ex ante costs
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Transaction Costs
Monitoring or control costs Contract execution costsAdjustement costs
Contract execution period: Ex post costs
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Transaction Cost Theory O. E. Williamson (1975)
Atmosphere
Bounded Rationality Uncertainty/Complexity
‚Information Impactedness‘
Opportunism Transaction Specifity
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Market and Hierarchy
CCTransaction costs Organizational costs
(Setup-costs)
Degree of organization
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Quasi-Rents, Specific Investments and Hold-up
g AB
A‘s quasi-rent: QRAB = (gAB – gAC)
A Bg BA
CD g ACg BD
A‘s profit with B: gAB B‘s profit with A: gBA
B‘s quasi-rent: QRBA = (gBA – gBD)
HOLD-UP Potential of B (HB)Quasi-rent of A (QRBA) =
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Transaction Cost Theory of the MNC from Teece
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1.3 Dunning‘s Eclectic Theory
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1.4 Network Approach
Degree of the Internationalization of the Market
Low High
Degree of the internatio-nalisation
0f the firm
Low“The Early
Starter”“The Late Starter”
High“The Lonely
International”“The International
Among Others”
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2 Culture, Strategy and Organization of MNC2.1 Country and Organization Culture
•“Culture is the collective programming of the mind.”
Geert Hofstede
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Hofstede
Individualism/collectivism
Masculinity/femininity
Uncertainty avoidance
Power distance
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Power Distancebeschreibt
The extent to which people tollerate unequal distribution of power in economy and society.
Individualismbeschreibt
The degree of integration of individuals in groups
Individualism:
Individual values, individual responsibility, goal orientation
Collectivism:
Group values, loyal behavior, common responsibility
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Masculinitybeschreibt
How strong are masculin values (for instance achievement, success, money) compared to feminin values (security, life quality, social contact)?
Uncertainty Avoidancebeschreibt
How tolerant are the people concerning new and unstructured situations?
high UA: Many Rules, regulations and legal norms to minimize risk
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Model of Hofstede
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Country Comparison
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Village market (nordic)-Decentralized, flexible-Coordination through personal and informal communication
Family or tribe (Asiatic)-Centralized decision making-Loyal, personal relationships-Sozial control (clan control)
Well-oiled machine(Germanic)-Decentralized decision making-Strong role of experts-Coordination through rules and routines
Traditional bureaucracy„Pyramid of people“ (Latin)-Centralized decision making-Central personal coordination-Informal relationships
highlow
high
low
Powerdistance
Uncertainty Avoidance
Hierarchy
Form
aliz
ati
on
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Model of Trompenaars:Country and Organization Culture
Guided Missile
Eiffel Tower
Incubator
Family
Decentralization
Centralization
Goal Orientation
(formal)
Persons
(informal)
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2.2 Strategy und Organization design of the MNC2.2.1 Strategies of the MNC
What is a competitive advantage?Sustainable cost and/or revenue advantages compared to the best competitor
StrategyRessources Capabilities
Industry structure
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I. Strategic Approaches: Porter‘s Model
Competitive advantage through low costs and differentiation
Low-cost, differentiation and focus strategy
monopolistic Rents
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Resource-based Approach (Barney, Wernerfelt)
Strategy
Competitive advantage
Competencies
Resources Tangible and intangible resources
Change of the resource bundle
Strategic Rents
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II. International Strategies: Perlmutter
Ethnocentric Strategy
Polycentric Strategy
Geocentric Strategy
Regiocentric Strategy
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Perlmutter‘s Model
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Bartlett/Ghoshal-Model
high
highlow
low
Cost pressures
Pressure for local responsiveness
Global Strategy
International
Strategy
Multi-national Strategy
Trans-national Strategy
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2.2.2 Strategy and Organisation Design
Chandler (1962): „Structure follows Strategy“
Matrix structure Product-/geographic Structure Functional Structur
Differentiation strategy Low-cost strategy
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Barlett/Ghoshal-Model
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International Division
CEO
HR Finance R & D Int. Division
Europe
Middle East
Brazil
Staff
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Global Geographic Structure
CEO
Pacific Division
European Division
Latin American Division
Corporate
Staff
Long Term Planning
ProductCoordination
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ABB
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Comparison
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Global Heterarchy (Hedlund)Transnational Organization (Bartlett/Ghoshal)
Country competence centersCountry competence centers
Local and global advantagesLocal and global advantages
Decentralisation of decision makingDecentralisation of decision making
Centralization of controlCentralization of control
IT-enabled strategyIT-enabled strategy
Organization culture as clan controlOrganization culture as clan control
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3. Theoretical Foundations of Networks
Hierarchy Stable Network
Internal Dynamic
Network Network
One Firm Several Firms
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High
Inte
ractio
n L
evel
low
Cooperation
Licensing
Cross-Licensing
Franchising
Countertrade
Consortium
Joint Venture
CompetitionCooperation Propensity
Cooperation
Cluster
External Networks
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Keiretsu
Other Financial Institutions Banks Insurance Companies
Trading Companies Production Companies
Subcontractors A B C D F
InternalNetwork
External Network
Equity:Finance:Goods:
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Consortium: NewPC-Consortium in Taiwan
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3. 1 Economic Theories of Networks
Transaction Cost Theory
Property Rights-Theory
Strategic or Resource-based Theory
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Transaction Cost Theory
TC
Spezifity
Market Network Hierarchy
S1 S2 S3
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Property Rights-Theory
a. the right to use the goodb. the right to change the goodc. the right to capture the profit or to bear the lossd. the right to sell the good and to receive the liquidation
value
a + b = Residual decision rightsc + d = Residual income or ownership rights
Contractibility (due to intangibility) of assets determines the structure of residual rights
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Example: Franchising-Network
Intangible assets of the franchisor:Brand name assets, system-specific know-how
Intangible assets of the franchisee:Outlet-specific knowledge
ao and a1 are tangible – market coordination
ao is intangible, a1 is tangible – internal coordination
ao and a1 are intangible – network coordination
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Resource-based Theory
Resources
Organizational Capabilities
Strategic Rents (SR)
(Schumpeterian and Ricaridian Rents)
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Resource Characteristics
Intangible, tangible resources and organizational capabilities
Heterogenity
Imitability
Substitutability
Firm specifity
Contractibility
+
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3.2. Organizational Efficiency of NetworksA) Transaction Costs
‚Organization for efficient exploitation of knowledge differences‘
(knowledge exploitation‘ – March 1991)
Coordination efficiency:
coordination costs
Motivations efficiency:
motivation costs (Agency costs)
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Efficient Organization Design
Centralization Degree of Delegation
Coordination Costs
Motivation Costs (Agency Costs)
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B) Criteria of the Resource-based Theory
‚Organization design for efficient knowledge creation‘(‚knowledge exploration‘ – March 1991)
Strategic rents (SR):Schumpeterian und Ricardian Rents
- Schumpeterian rents due to dynamic capabilities- Ricardianian rents due to heterogenity of resources and capabilities
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Organisational Efficiency: SR – TC
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3.3 Networks, Trust and IT
g AB
A‘s Quasi-Rents: QRAB = (gAB – gAC)
A Bg BA
CD g ACg BD
A‘s Reputation capital: RA B‘s Reputation capital: RB
B‘s Quasi-Rents: QRBA = (gBA – gBD)
Quasi-Rents of A (QRAB) + reputation capital of A (RA)
HA - cooperative behaviorHA - opportunistic behavior
><
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Strategic Rents, Hold-up and Reputation
g FBGM
FB GMg GMFB
CD g FBCg GMD
GM‘s strategic rents under market coordination: SRGMFB
GM‘s strategic rents under internal coordination: SRGMGM
GM‘s SR-advantage under market coordination: SRGM = (SRGMFB – SRGMGM)
(QRGM + SRGM + RGM - HGM) > 0 is „self-enforcing range“ (Klein 1995)
Quasi-Rents of GM (QRGM) + strategic rent advantage under market coordination of GM ( SRGM)
><
HGM - cooperative HGM - opportunistic
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Transaction Costs and IT
Transaction Costs
Communication Information Processing
Specifity
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Move to the Network
TC
Specifity
Market Network Hierarchy
S1 S2 S3