Man 4720 Chapter 9

Réussis tes devoirs et examens dès maintenant avec Quizwiz!

Alliance Management Capability

A firm's ability to effectively manage three alliance related tasks concurrently. 1. Partner selection and alliance formation. 2. Alliance design and governance. 3. Post formation alliance management.

Managerial Hubris

A form of self-delusion in which managers convince themselves of their superior skills in the face of clear evidence to the contrary.

Strategic Network

A social structure composed of multiple organizations and the links among the nodes.

Join Venture

A standalone organization created and jointly owned by two or more parent companies.

Strategic Alliance

A voluntary arrangement between firms that involve the sharing of knowledge, resources, and capabilities with the intent of developing processes, products, or services to lead to competitive advantage.

Hostile Takeover

Acquisition in which the target company does not wish to be acquired.

Merger

Describes the joining of two indepedent companies to form a combined entity.

Corporate Venture Capital

Equity investments by established firms in entrepreneurial ventures.

Explicit Knowledge

Knowledge that can be codified concerns knowing about a process or product.

Tacit Knowledge

Knowledge that cannot be codified.

Non-equity Alliance

Partnership based on contracts between firms. The most frequent forms are supply agreements, distribution agreements, and licensing agreements.

Equity Alliance

Partnership in which at least one partner takes partial ownership in the other partner.

The four main benefits of a horizontal integration

Reduction in competitive intensity. Increased differentiation. Lower costs. Access to new markets and distribution channels.

Small-world Phenomenon

Situation in which a network exhibits local clusters, each with high degree centrality.

Learning Races

Situations in which both partners in a strategic alliance are motivated to form an alliance for learning, but the rate at which the firms learn may vary; the firm that accomplishes its goal more quickly has an incentive to exit the alliance or reduce its knowledge sharing.

Structural Holes

Spaces where two organizations are connected to the same organization, but are not connected to one another. Firms that bridge strucutre holes gain information and control benefits over the nonconnected firms.

Relational view of competitive advantage

Strategic management framework that proposes that critical resources and capabilities frequently are embedded in strategic alliances that span firm boudnaries.

The reason for mergers

The desire to overcome competitive disadvantages. Superior acqisition and integration capability. Prinicple-agent problems.

Degree Centrality

The number of direct ties a firm has in a network, out of the possible direct ties.

Horizontal Integration

The process of acquiring and merging with competitors, leading to industry consolidation.

Acquisition

The purchase or takeover of one company by another.


Ensembles d'études connexes

Pathophysiology/Risk Factors Quiz

View Set

Chapter 12 Some Lesson from Capital Market

View Set

Social Media Marketing Final Study Guide

View Set

Unit 3 - Chapter 4: Color Theory and Application

View Set

Chapter 23: Question 61 + all true and false

View Set

Enrichment Activity 26; The Cost of War

View Set