{"title":"Divestitures, Value Creation, and Corporate Scope","authors":"Elena Vidal","doi":"10.1561/111.00000034","DOIUrl":"https://doi.org/10.1561/111.00000034","url":null,"abstract":"This paper exposes the relatively limited understanding we have of divestitures as a tool for corporate renewal. I argue that divestitures can be used by managers to generate slack in non-scale free resources, particularly managerial capacity, which are needed to support corporate renewal. I provide a review of the literature, using it to highlight the need for future research. In particular, this is a call for us to gain a better understanding of the drivers and consequences of divestitures and the different ways in which they can be implemented; moreover, this is a call to consider how divestitures are used either in combination or sequentially with other governance modes that affect corporate scope and can lead to corporate renewal, namely build, borrow, buy decisions.","PeriodicalId":100721,"journal":{"name":"International Strategic Management Review","volume":"11 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-09-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81403236","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Joint Ventures: The Next Frontiers of Analysis","authors":"J. Bamford, Benjie Jenkins","doi":"10.1561/111.00000022","DOIUrl":"https://doi.org/10.1561/111.00000022","url":null,"abstract":"In a 1993 interview, Peter Drucker commented that: “Businesses used to grow in one of two ways: from grassroots up or by acquisition. ... Today businesses grow through alliances, all kinds of dangerous liaisons and joint ventures, which, by the way, very few people understand.”1 In some ways, a lot has changed since then. Over the ensuing decades, business practitioners and their advisors, including lawyers and consultants, have come to understand the importance and challenges of joint ventures and other partnerships, and have grown much more sophisticated in conceiving and evaluating collaborationbased strategies, structuring joint venture transactions, screening and performing due diligence on joint venture counterparties, and governing and managing joint ventures.","PeriodicalId":100721,"journal":{"name":"International Strategic Management Review","volume":"10 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-02-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87211417","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Prioritizing Research in Strategic Management: Insights from Practitioners and Academics","authors":"Saikat Chaudhuri, M. Leiblein, J. Reuer","doi":"10.1561/111.00000015","DOIUrl":"https://doi.org/10.1561/111.00000015","url":null,"abstract":"This essay presents results from a survey that assesses perceptions of academics and practitioners regarding the importance of, and their satisfaction with, research on contemporary topics in strategic management. The objective of the essay is to provide guidance regarding important areas where respondents believe further research would be fruitful. The responses to survey questions regarding 55 prominent research topics indicate the extent to which existing research programs have under- or over-served the demands of the academic and consultant-practitioner markets. A comparison of responses provided by academics and consultant-practitioners suggest opportunities for current academics to learn from practice. Overall, this essay provides a means to better understand the distinctive contribution of strategic management research and suggests several ways in which future research might focus its effort on questions of interest to practice.","PeriodicalId":100721,"journal":{"name":"International Strategic Management Review","volume":"12 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-02-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82310423","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Prospective on Corporate Renewal","authors":"Emilie R. Feldman, Arkadiy V. Sakhartov","doi":"10.1561/111.00000025","DOIUrl":"https://doi.org/10.1561/111.00000025","url":null,"abstract":"","PeriodicalId":100721,"journal":{"name":"International Strategic Management Review","volume":"16 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85149225","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Behavioral Innovation and Corporate Renewal","authors":"Nathan R. Furr, J. Eggers","doi":"10.1561/111.00000029","DOIUrl":"https://doi.org/10.1561/111.00000029","url":null,"abstract":"","PeriodicalId":100721,"journal":{"name":"International Strategic Management Review","volume":"2014 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86534877","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Focused Renewal: Reflections on Berry and Kaul, and Corredor and Mahoney","authors":"P. Nary","doi":"10.1561/111.00000028","DOIUrl":"https://doi.org/10.1561/111.00000028","url":null,"abstract":"The topic of strategic renewal, which “includes the process, content, and outcome of refreshment or replacement of attributes of an organization that have the potential to substantially affect its long-term prospects” (Agarwal & Helfat, 2009; p.282) is, in my opinion","PeriodicalId":100721,"journal":{"name":"International Strategic Management Review","volume":"5 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87171565","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Is Competitive Advantage Intellectually Sustainable?","authors":"M. Lieberman","doi":"10.1561/111.00000016","DOIUrl":"https://doi.org/10.1561/111.00000016","url":null,"abstract":"One can never be sure what a finding about “competitive advantage” means unless one reads the “fine print” of a particular work’s definition. ... [W]hen people use the same term to mean many different things and/or call the same thing by many different terms, it is hard either to have a conversation or to efficiently present one’s findings. As Oxley, Rivkin, and Ryall (2010, p. 379) have suggested, one criterion for a piece of theory in strategy to be high quality should be that “The theoretical claims [of the work] are unambiguous: interpretation of its terms, premises and conclusions does not vary from scholar to scholar.” The strategy field is clearly failing to meet that test with respect to “competitive advantage.” At least one scholar (Lieberman, 2010) has called for abandonment of the term in research settings for precisely this reason.","PeriodicalId":100721,"journal":{"name":"International Strategic Management Review","volume":"6 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84098807","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Declining Markets, Resource Specificity, and Redeployment Decisions","authors":"Timo Sohl, Timothy B. Folta","doi":"10.1561/111.00000033","DOIUrl":"https://doi.org/10.1561/111.00000033","url":null,"abstract":"This essay emphasizes that the key determinants of redeployment decisions—adjustment costs and transaction costs—are illuminated by consideration of the sources of resource specificity. Building on prior work separating the degree of a resource’s firm specificity and usage specificity, we develop a set of novel propositions on the conditions under which headquarters are more likely to withdraw a resource from a declining market and transfer it to a more attractive one. First, we clarify how usage specificity and business relatedness may interact in determining adjustment costs. Second, we examine how firm specificity and market transaction costs may interact in determining the use of resource redeployment. Third, we integrate the dimensions of usageand firm-specificity into our framework explaining redeployment decisions. Overall, this essay contributes to an improved understanding of the self-selection processes of redeployment decisions and provides managers with a framework to evaluate particular resources as potential candidates for internal redeployment in the course of corporate renewal.","PeriodicalId":100721,"journal":{"name":"International Strategic Management Review","volume":"10 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89583207","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Retrospective on Corporate Renewal","authors":"K. R. Harrigan","doi":"10.1561/111.00000024","DOIUrl":"https://doi.org/10.1561/111.00000024","url":null,"abstract":"An historical review of managers’ corporate renewal decisions reveals an evolution has occurred away from using operating turnarounds in favor of making changes in corporate scope via transactions. One explanation for this progression is that financial valuation considerations supplanted other inputs to strategic logic in seeking value creation—a reflection of the rising institutional influence of financial institutions. The market for corporate control has brought financial owners into the arena of corporate renewal activities. They have embraced the earlier emphasis upon fixing underperforming resources to accomplish corporate renewal. This evolution was supported by the rising importance of private equity firms as suitors to acquire distressed assets. As underperforming resources have been passed from firm to firm until finding an owner willing to confront their operating challenges, specialized financial owners have risen in importance in corporate renewal while the importance of strategic owners in performing operational turnarounds to renew their corporations has eroded.","PeriodicalId":100721,"journal":{"name":"International Strategic Management Review","volume":"51 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76664975","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Toward a Unified Theory of Internal Innovation and Strategic Renewal: Comment on Furr & Eggers and Miller","authors":"Dan J. Wang","doi":"10.1561/111.00000031","DOIUrl":"https://doi.org/10.1561/111.00000031","url":null,"abstract":"","PeriodicalId":100721,"journal":{"name":"International Strategic Management Review","volume":"18 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90235721","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}