Global and Transnational Business Strategy and Management

, by Stonehouse, George; Campbell, David; Hamill, Jim; Purdie, Tony

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ISBN: 9780470851265 | 0470851260
Cover: Paperback
Copyright: 10/8/2004

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In this new edition of a successful textbook the authors assess the turbulent environment in which international businesses operate and the approaches to strategy formulation and implementation which can be adopted. They also examine the functional and operational management of companies and fuse together the theoretical and empirical aspects of international management. New material includes coverage of leadership in transnational companies, cultural issues in international management, entrepreneurship and SMEs in global business, the impact of e-commerce, and the anti-globalization movement.

Preface to the second edition

xix

Acknowledgements

xxi

PART I

(36)

Strategic and Management Issues in Global and Transnational Business

(34)

Learning objectives

(1)

Global and transnational business -- an introduction

(16)

Some important definitions

(2)

Definitions of globalization

(1)

GATT and the WTO

(2)

Globalization -- is it a blessing or a curse?

(8)

Global and transnational strategy

(1)

Structure of the book

(2)

Increasing global co-ordination in Philips Electronics

(1)

Global and transnational strategies and management -- the issues

(1)

A framework for global and transnational strategic management

(6)

The controversies in strategic management

(2)

The prescriptive or deliberate approach to strategy

(1)

The emergent or learning approach to strategy

(1)

The competitive positioning approach to strategy

(1)

The resource, competence and capability approach to strategy

(2)

The knowledge-based approach to strategy

(1)

The approach to global strategy in this book

(3)

Assumption 1 Competitive advantage arises from new and superior knowledge

(1)

Assumption 2 Organizational learning and knowledge management are vital to creating and sustaining competitive advantage

(1)

Assumption 3 Strategy is both planned and emergent

(1)

Assumption 4 Competitive advantage results from both internal knowledge-based core competence development and from changing conditions in the business environment

(1)

Assumption 5 It is important to distinguish between industries and markets

(1)

Assumption 6 Competitive advantage results from both competitive and collaborative behaviour

(1)

A summary of the frameworks

(1)

The global and transnational strategic management process

(4)

The management process matrix

(1)

The major elements in the process matrix

(3)

Conclusion

(4)

Review and discussion questions

(1)

References and further reading

(3)

PART II

(118)

From National Culture to Global Vision

(34)

Learning objectives

(1)

Introduction

(1)

The concept of globalization

(2)

Industries and markets

(2)

Causes of market and industry globalization

(5)

Overview

(1)

Technological forces

(1)

Social forces

(1)

Political and legal forces

(1)

Economic forces

(1)

The extent of globalization

(1)

Globalization and environmental turbulence

(2)

The example of the South Korean economy

(1)

Tariffs and quotas

(1)

Currents and cross currents

(1)

Global mission, objectives and strategy

(3)

Strategy, purpose and objectives

(1)

Global vision

(1)

Vision, philosophy and global strategy

(1)

Nokia's global vision

(1)

Culture and global business

(4)

Levels of culture

(2)

EuroDisney -- a European or American cultural identity?

(1)

Characteristics of culture

(1)

Hofstede's cultural dimensions framework

(3)

Elements of Hofstede's framework

(1)

Power distance

(1)

Uncertainty avoidance

(1)

Individualism/collectivism

(1)

Masculinity/femininity

(1)

Long-term orientation

(1)

Trompenaars' dimensions of culture framework

(3)

Elements of Trompenaars' framework

(1)

Relationships with people

(1)

Time

(1)

Relating to nature

(1)

Tayeb -- major cultural characteristics observed in various nations

(1)

The importance and determinants of culture in transnational business

(4)

The importance of culture

(2)

Culture and the success of mergers in the automobile industry

(1)

Organizational culture

(1)

Determinants of organizational culture

(1)

Analysing organizational culture -- the cultural web

(7)

Sources of culture -- an example of the influences on a country's culture

(1)

Review and discussion questions

(1)

References and further reading

(2)

Web links

(1)

Analysis of the Global Business

(30)

Learning objectives

(1)

Introduction

(1)

Analysis of the global organization

(1)

Internal analysis

(1)

Competences, resources and capabilities

(6)

Understanding global competences

(1)

Definitions of resources, capabilities and competences

(1)

Resources

(1)

General competences/capabilities

(1)

Core competences/distinctive capabilities

(3)

Global value chain analysis

(6)

Organizations as systems

(1)

The value chain

(2)

Primary activities

(1)

Support activities

(1)

Using the value chain framework

(1)

The value system

(1)

Co-ordinating activities and linkages

(1)

The `global' value chain

(1)

A more complex value chain

(1)

Configuration

(1)

Co-ordination

(1)

Global organizational culture and structure

(4)

The importance of culture and structure

(1)

Structure

(1)

BP Amoco and global structure

(1)

Culture

(1)

Products, performance and portfolio analysis

(8)

The concept of portfolio

(1)

The BCG matrix

(1)

Using the BCG matrix

(1)

Limitations of the BCG matrix

(1)

BAT in the 1970s and 1980s -- managing an international portfolio

(2)

Global products and services

(1)

Performance analysis

(1)

Benchmarking

(1)

Outside in or inside out?

(4)

`Outside in' strategy

(1)

`Inside out' strategy

100

(1)

The two approaches and internal analysis

100

(1)

Review and discussion questions

100

(1)

References and further reading

101

(2)

Analysis of the Competitive Environment

103

(36)

Learning objectives

103

(1)

Introduction

103

(1)

The nature of the business environment

104

(2)

The importance of environmental analysis

104

(1)

The macroenvironment

105

(1)

The microenvironment

105

(1)

Industries and markets

106

(3)

Identifying industries and markets

106

(1)

The industry

106

(1)

The market

107

(1)

The importance of the distinction between industry and market

108

(1)

Globalization of industries and markets

109

(1)

Yip's globalization drivers

109

(9)

The four categories of drivers

109

(1)

Market globalization drivers

110

(2)

Cost globalization drivers

112

(2)

Government globalization drivers

114

(1)

Competitive globalization drivers

115

(1)

A summary of the drivers

116

(1)

The influence of government globalization drivers in the airline industry

116

(2)

Industry analysis

118

(5)

Porter's five-forces framework

118

(2)

Force 1: the threat of new entrants

120

(1)

Force 2: the threat of substitute products

120

(1)

Force 3: the bargaining power of buyers (customers)

121

(1)

Force 4: the bargaining power of suppliers

121

(1)

Force 5: the rivalry among existing competitors in the industry

122

(1)

Use of the five-forces framework

122

(1)

Globalization drivers and the five forces

123

(2)

Synthesizing the two frameworks

123

(1)

Ulcer treatments and the international development of Glaxo

123

(2)

Market analysis

125

(3)

Market identification

125

(1)

Customers and their needs

126

(2)

Strategic group and competitor analysis

128

(3)

What are strategic groups?

128

(1)

Globalization trends in the pharmaceuticals industry

129

(2)

A resource-based approach to environmental analysis

131

(3)

Limitations of traditional frameworks

131

(1)

Understanding the framework

132

(2)

Critical success factors (CSFs) and core competences

134

(5)

What are CSFs

134

(1)

Review and discussion questions

135

(1)

References and further reading

135

(4)

Analysis of the Global Macroenvironment

139

(16)

Learning objectives

139

(1)

Introduction

139

(1)

Change in the business environment

140

(2)

The nature of environmental change

140

(1)

Change and prescriptive strategy

141

(1)

The macroenvironment

142

(3)

STEP analysis

142

(2)

Global and national macroenvironments

144

(1)

The relationship between global and national macroenvironments

144

(1)

The role of national circumstances in international business

145

(3)

Determinants of national competitive advantage

145

(2)

Prudential: factor conditions in Reading, UK and Bombay, India

147

(1)

Porter's Diamond

148

(1)

The analytical process

148

(3)

Stages in the process

148

(1)

Information gathering

149

(1)

Information processing

149

(1)

Knowledge generation

150

(1)

Summary -- analysis of the global macroenvironment

151

(4)

The links between the micro and macroenvironments

151

(1)

Review of the key stages

152

(1)

Discussion and review questions

153

(1)

References and further reading

153

(2)

PART III

155

(92)

Global and Transnational Strategy

157

(40)

Learning objectives

157

(1)

Introduction

157

(1)

Transnational strategies and global competitiveness

158

(3)

Sustainability and competitive advantage

158

(2)

Transnational, global and international business strategies

160

(1)

Strategies -- the choice

161

(2)

Competitive positioning

161

(1)

Knowledge and competence-based strategy

161

(1)

Global strategy

162

(1)

Knowledge and competence-based strategy

163

(12)

The emphasis on the organization itself

163

(1)

The components of core competences

163

(2)

Core competences and distinctive capabilities

165

(1)

Knowledge, core competences and global competitive advantage

166

(1)

Knowledge

167

(1)

Knowledge creation and management

168

(1)

Sharp Corporation -- a knowledge-centric organization

169

(1)

Organizational learning

169

(1)

Knowledge creation and management in transnationals

170

(1)

Competence building and leveraging

170

(2)

Summary of knowledge and competence-based strategy

172

(1)

Alternative approaches to resource-based strategy

172

(1)

Distinctive capabilities

173

(1)

Manchester United and superior performance

173

(2)

Competitive positioning -- Porter's generic strategies

175

(4)

The generic strategy framework

175

(1)

Cost leadership strategy

176

(1)

Differentiation strategy

177

(1)

Focus strategy

177

(1)

Hybrid strategies

178

(1)

Knowledge, core competence and generic strategy -- a synthesis

179

(2)

Drawing the threads together

179

(2)

Global and transnational strategy

181

(6)

Porter's model of global strategy -- the value system

182

(1)

Configuration

182

(1)

Co-ordination

183

(1)

Integration and responsiveness

184

(1)

Pressures for and against increased global co-ordination

185

(1)

Regional strategies

186

(1)

Total global strategy

187

(10)

Development of total global strategy

187

(2)

Transnational organizations

189

(1)

Global and localized elements of transnational strategy

190

(2)

McDonald's Inc. -- an example of transnational strategy

192

(1)

Discussion and review questions

193

(1)

References and further reading

194

(3)

Global and Transnational Market-servicing Strategies

197

(30)

Learning objectives

197

(1)

Introduction

197

(1)

Alternative foreign market-servicing strategies

198

(11)

What is market servicing?

198

(1)

Market-servicing options

199

(2)

International expansion through franchising -- Holiday Inn

201

(6)

A summary of the modes of entry

207

(2)

Selection of mode of entry

209

(1)

Choosing the most appropriate mode of entry

209

(1)

Criteria for choosing mode of entry

210

(1)

Global market-servicing strategies

210

(2)

Literature summary

210

(2)

Three key variables

212

(1)

Collaborative arrangements

212

(5)

Collaboration rather than competition

212

(2)

The nature and rationale of collaboration

214

(1)

Horizonal and vertical collaboration

215

(1)

Alliances

216

(1)

Summary -- advantages of collaborative arrangements as modes of entry

217

(1)

Appendix 7.1 Some additional notes on foreign market-servicing strategies

217

(10)

Exporting

217

(1)

Contractual agreements

218

(1)

Foreign direct investment

219

(1)

Toyota -- FDI greenfield development in the UK

219

(1)

Philip Morris -- foreign acquisitions in the former communist states of central and eastern Europe

220

(1)

Review and discussion questions

221

(1)

References and further reading

221

(6)

Global Production and Logistics Management

227

(20)

Learning objectives

227

(1)

Introduction

227

(1)

Production strategy and competitive advantage

228

(1)

The critical success factors in operations

228

(1)

Global production strategies

229

(2)

The `big' decisions in production strategy

229

(1)

Plant roles and inter-plant relationships

230

(1)

Research in global productions strategy

231

(5)

Doz -- opportunities from relaxations in trade restrictions

231

(2)

Starr's network

233

(1)

Dicken and international value adding

233

(1)

Dicken's four production strategies

234

(2)

Plant location decision making

236

(4)

Decision criteria

236

(2)

The most frequently used criteria

238

(1)

The location decision

239

(1)

Procurement and transnational business

240

(2)

Procurement policy

240

(1)

Types of purchasing policy

241

(1)

Global logistics

242

(5)

The `flow' of materials

242

(1)

Logistics and strategy

243

(1)

Managing logistics

244

(1)

Discussion and review questions

244

(1)

References and further reading

244

(3)

PART IV

247

(184)

Global Leadership and Strategic Human Resource Management

249

(20)

Learning objectives

249

(1)

Introduction

249

(1)

Leadership and management in transnationals

250

(7)

Definitions

250

(1)

The nature of leadership

251

(2)

GE -- the new leadership paradigm

253

(1)

Leadership and cultural issues

254

(1)

Body Shop: embracing a new management `ethos'

254

(1)

Leading and managing cultural diversity in transnational organizations

255

(1)

Shaping culture in transnational organizations

256

(1)

Strategic human resource management

257

(5)

The importance of human resources

257

(1)

Features of HR strategy

258

(1)

HR strategy, core competences and organizational learning

259

(1)

Integration of HRM with corporate strategy and functional strategies

259

(3)

Criticisms of the concept of strategic HRM

262

(1)

European and American approaches to HRM

262

(1)

A transnational model of HRM

263

(1)

Porter's global strategy and HR strategy

264

(5)

Congruence between HR and corporate strategy

264

(2)

Review and discussion questions

266

(1)

References and further reading

266

(3)

Global Technology Management

269

(28)

Learning objectives

269

(1)

Introduction

269

(1)

Technology and strategy

270

(1)

The impact of technology on strategy

270

(1)

Technology as a strategic asset

271

(6)

Defining technology

271

(1)

Technology and products

272

(1)

Technology and production

273

(1)

Patterns of technological innovation

274

(1)

Differences between technology and other assets

275

(1)

Technology and global competitiveness

276

(1)

Technology strategy

277

(8)

The components of a technology strategy

277

(1)

Technology audit

277

(1)

Sourcing new technology

278

(3)

Exploiting new technology

281

(2)

Protecting the competitive advantage

283

(1)

When patents expire

284

(1)

Comparisons of transnational technological performance

285

(2)

Comparing US and Japanese performance

285

(2)

Learning good practice

287

(1)

Information and communication technologies

287

(10)

The effects of ICT

287

(1)

Developments in ICT

288

(2)

ICT and transnational strategy

290

(1)

Configuring ICT for transnational business

291

(1)

Discussion and review questions

292

(1)

References and further reading

292

(5)

Global and Transnational Marketing Management

297

(42)

Learning objectives

297

(1)

Introduction

297

(1)

The role of marketing in global and transnational strategy

298

(3)

Marketing and strategy

298

(2)

Marketing and competitive advantage

300

(1)

Ohmae's (1989) view of marketing

300

(1)

Globalization of markets and marketing research

301

(1)

Global marketing strategies

302

(6)

Different perspectives

302

(1)

Douglas and Craig's (1989) typology

303

(1)

Leontiades' (1986) perspective

304

(1)

Four stages in a global marketing strategy

305

(3)

Global market segmentation and positioning strategies

308

(2)

Segmentation bases

308

(1)

Market positioning

309

(1)

Global marketing management

310

(3)

Marketing mix strategy

310

(1)

McDonald's -- globally homogeneous?

311

(2)

Global products

313

(5)

The importance of product decisions

313

(1)

Decisions on product strategy

314

(1)

Global branding

315

(3)

Global pricing

318

(6)

Pricing decisions

318

(5)

Transfer pricing

323

(1)

Pricing decisions -- a summary

324

(1)

Global promotion

324

(7)

Marketing communications

324

(1)

Standardization of global promotion

325

(1)

Organization and control of promotions

325

(4)

The management of global promotional campaigns

329

(1)

Choosing an advertising agency

330

(1)

ICT and global marketing

331

(8)

Axis Communications Inc. -- the Internet and global marketing

333

(1)

Review and discussion questions

334

(1)

References and further reading

335

(4)

Global Financial Management

339

(22)

Learning objectives

339

(1)

Introduction

339

(1)

Finance management and the global enterprise

340

(3)

The key issues in international financing

340

(1)

Foreign exchange risk management at British Airways (BA)

341

(2)

Centralization versus decentralization of the finance function

343

(1)

Different approaches to decentralization

343

(1)

Decision area 1: financing foreign operations

344

(4)

The options

344

(2)

Equity capital

346

(1)

Debt (or loan) capital

346

(2)

Decision area 2: resource allocation and capital budgeting

348

(3)

Uncertainties constraining the certainty of choice

348

(1)

Political risk

349

(1)

Assessing and forecasting political risk

349

(1)

Dealing with political risk

350

(1)

Decision area 3: operational policies

351

(4)

Working capital and cash flow management

351

(2)

Foreign exchange exposure

353

(1)

Reducing exposure

354

(1)

Decision area 4: remittance strategy

355

(6)

Types of funds transfer

355

(1)

Problems with transferring funds

355

(1)

Blocked funds

356

(2)

Discussion and review questions

358

(1)

References and further reading

358

(3)

Organizational Structure and Control in Global and Transnational Business

361

(30)

Learning objectives

361

(1)

Introduction

361

(1)

Some essentials of organizational structure

362

(2)

Key variables

362

(1)

`Height' and `width' of structures

362

(2)

Hierarchical configuration of structures

364

(1)

Determinants of organizational structure

364

(5)

Mintzberg's determinants

364

(1)

The contingency approach

365

(3)

The configuration approach to organizational design

368

(1)

Types of international organizational structure

369

(5)

International structures

370

(1)

Global structures

371

(3)

The development of global and transnational matrix structures

374

(2)

Stimuli to matrix development

374

(1)

Global matrix structures

374

(2)

The development of the transnational organizational structure

376

(6)

National influences on structural form

376

(1)

`Anatomy' and `physiology'

377

(1)

Features of transnational structures

378

(1)

The transnational model

379

(3)

Decision making and control in international business

382

(3)

Decentralization and control

382

(1)

Empirical studies

383

(1)

Evaluating performance

384

(1)

Global and transnational strategies, organization and control

385

(6)

The influence of strategy on structure and control systems

385

(1)

Discussion and review questions

386

(1)

References and further reading

387

(4)

Managing Global Mergers, Acquisitions and Alliances

391

(28)

Learning objectives

391

(1)

Introduction

391

(1)

An overview of integrations and alliances

392

(3)

Perspectives on external growth

392

(1)

Types of integrations and alliances

393

(2)

Transnational mergers and acquisitions

395

(8)

The key definitions

395

(1)

Motivations for transnational M&As

396

(1)

Hoechst and Rhone-Poulenc merge to form Aventis, a new global leader in life sciences

397

(1)

Problems with integration

398

(1)

Successful M&As

399

(3)

DaimlerChrysler

402

(1)

Collaborative ventures and strategic alliances

403

(2)

What are collaborative ventures and strategic alliances?

403

(2)

Motivations for forming strategic alliances

405

(1)

Types of strategic alliance and collaborative venture

405

(6)

Directions of alliances

405

(2)

The extent and timescale of collaboration

407

(1)

Choosing the most appropriate type of alliance

408

(1)

Collaborative strategy in the international airline industry

409

(2)

Successful alliances

411

(1)

The strategic management of networks and alliances

412

(7)

The concept of the `focal' business

412

(1)

Discussion and review questions

413

(1)

References and further reading

414

(5)

Global Business -- Present and Future Trends

419

(12)

Learning objectives

419

(1)

Introduction

419

(1)

The global business environment -- limits of globalization

420

(2)

The real state of homogenization

420

(1)

Physioeconomic theory

420

(1)

Challenging the presuppositions

421

(1)

A global approach to strategy and management?

422

(1)

Global competitive advantage in the future

423

(8)

Knowledge-based strategy: the intelligent organization

424

(3)

The `virtual' corporation

427

(1)

Discussion and review questions

428

(1)

References and further reading

429

(2)

Appendix 1 McDonald's and Its International Expansion

431

(8)

A brief history

431

(3)

McDonald's and franchising

434

(1)

International growth

435

(4)

Appendix 2 Nike Inc.

439

(10)

Company development

439

(1)

The Nike product concept

440

(1)

Vertical linkages and outsourcing

441

(2)

Promotions and endorsements

443

(1)

Markets and structure

444

(1)

Changes in the 1990s

445

(1)

Nike at the end of the 1990s

446

(3)

References and further reading

447

(2)

Index

449

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Global and Transnational Business Strategy and Management

Summary

Author Biography

Table of Contents

Supplemental Materials