Global Strategy Journal最新文献

{"title":"Extending internalization theory: Integrating international business strategy with international management","authors":"Mark Casson","doi":"10.1002/gsj.1450","DOIUrl":"10.1002/gsj.1450","url":null,"abstract":"<div>\u0000 \u0000 \u0000 <section>\u0000 \u0000 <h3> Research summary</h3>\u0000 \u0000 <p>International business strategy and international management are two distinct but related fields of study. This article explores the connections between them. It shows how internalization theory can act as a bridge between them. The key is to analyze not only core activities, such as production, marketing and R&amp;D, but support services such as human resource management, information technology, and corporate finance. Internalization decisions and location decisions must be analyzed holistically, and diagrammatic techniques show how this can be done. These diagrams reveal the networks of communication and the hierarchical structures that emerge from such decisions.</p>\u0000 </section>\u0000 \u0000 <section>\u0000 \u0000 <h3> Managerial summary</h3>\u0000 \u0000 <p>The organizational structure of a multinational enterprise is inherently complex, making it difficult to determine whether one organizational structure is more efficient than another. Delayering, decentralization, and agility are recommended, but what are their practical implications? Internalization theory addresses these problems in a simple and coherent way. It shows that it is not only core activities, namely production, marketing and R&amp;D, that need to be coordinated, but support services too. Decisions on the location and out-sourcing of support services must be aligned with similar decisions on core activities. A diagrammatic analysis is presented that facilitates the solution of these problems.</p>\u0000 </section>\u0000 </div>","PeriodicalId":47563,"journal":{"name":"Global Strategy Journal","volume":"12 4","pages":"632-657"},"PeriodicalIF":7.6,"publicationDate":"2022-06-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/gsj.1450","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48243102","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Choosing misaligned governance modes when offshoring business functions: A prospect theory perspective","authors":"Stefano Elia,&nbsp;Marcus M. Larsen,&nbsp;Lucia Piscitello","doi":"10.1002/gsj.1445","DOIUrl":"10.1002/gsj.1445","url":null,"abstract":"<div>\u0000 \u0000 \u0000 <section>\u0000 \u0000 <h3> Research Summary</h3>\u0000 \u0000 <p>Transaction cost economics (TCE) holds that multinational corporations (MNCs) should select governance modes based on associated transactional hazards. However, MNCs often adopt theoretically misaligned governance modes. Applying a prospect theory (PT) perspective, we use the context of business-process offshoring to explore why firms choose misaligned governance modes. We argue that theoretically misaligned governance modes are regarded as riskier than aligned governance modes, and we suggest that prior experiences of failure in an international context—especially in business functions that are relevant for the internationalization of a firm—prompt decision-makers to choose theoretically misaligned governance modes. We enhance discussions on governance-mode decisions with important behavioral perspectives on how such decisions materialize.</p>\u0000 </section>\u0000 \u0000 <section>\u0000 \u0000 <h3> Managerial Summary</h3>\u0000 \u0000 <p>Experience with underperforming investments provides decision-makers with an important motivation to search for riskier, nontraditional solutions, such as governance modes that do not necessarily comply with conventional logics. We show that such decisions, which have traditionally been conceived as managerial mistakes, are driven by behavioral insights found in the fields of human and organizational psychology. While we explore this idea in the context of international governance-mode decisions, we believe such a behavioral perspective on international decision-making is generalizable to other relevant contexts.</p>\u0000 </section>\u0000 </div>","PeriodicalId":47563,"journal":{"name":"Global Strategy Journal","volume":"13 2","pages":"251-280"},"PeriodicalIF":7.6,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/gsj.1445","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46366750","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"What is digital transformation? Core tensions facing established companies on the global stage","authors":"Nathan Furr,&nbsp;Pinar Ozcan,&nbsp;Kathleen M. Eisenhardt","doi":"10.1002/gsj.1442","DOIUrl":"10.1002/gsj.1442","url":null,"abstract":"<div>\u0000 \u0000 \u0000 <section>\u0000 \u0000 <h3> Research summary</h3>\u0000 \u0000 <p>Digital transformation is a dominant theme in the global economy, but what it means for established companies remains perplexing for both academics and practitioners. As digital erases familiar geographic, industrial, and organizational boundaries, it has led to simplistic characterizations such as “digital changes everything.” Yet while digital changes some things, others remain the same. Here, we identify three core tensions at the heart of digital transformation—products vs platforms, firms vs ecosystems, and people vs tools—and describe their underlying economics, driving forces, and countervailing forces. These tensions frame a concrete discussion of strategic alternatives for global companies. Overall, we emphasize that digital transformation is not an objective state, but rather a strategic choice by executives from an array of alternatives.</p>\u0000 </section>\u0000 \u0000 <section>\u0000 \u0000 <h3> Managerial summary</h3>\u0000 \u0000 <p>Digital transformation is a dominant theme in the global economy, but what it means remains perplexing for executives and academics. Pundits claim that “digital changes everything” and that leaders must “disrupt or be disrupted,” but is this really true for established companies serving robust customer needs on the global stage? Understanding what digital transformation means can be challenging as it breaks down familiar geographic, industrial, and organizational boundaries, creating new opportunities and threats. In this paper, we explore three key tensions at the heart of digital transformation—products vs platforms, firms vs ecosystems, and people vs tools—and enumerate their enabling and constraining forces. Building on these concrete constructs provides effective foundations for formulating digital transformation strategy.</p>\u0000 </section>\u0000 </div>","PeriodicalId":47563,"journal":{"name":"Global Strategy Journal","volume":"12 4","pages":"595-618"},"PeriodicalIF":7.6,"publicationDate":"2022-05-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/gsj.1442","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43988927","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Navigating three vectors of power: Global strategy in a world of intense competition, aggressive nation states, and antagonistic civil society","authors":"Peter J. Buckley","doi":"10.1002/gsj.1444","DOIUrl":"10.1002/gsj.1444","url":null,"abstract":"<div>\u0000 \u0000 \u0000 <section>\u0000 \u0000 <h3> Research Summary</h3>\u0000 \u0000 <p>Global strategy must negotiate three vectors of external power: State policies (that often conflict across national boundaries), the demands of civil society, and market pressures. The global strategies of corporations must reflect their two enduring and non-replicable advantages—innovation and flexibility. These qualities are essential in the face of increased government regulation together with intensification of non-market strategies as well as improving responses to the increased exigencies of international competition. A radical reappraisal of global strategies is therefore necessary. The global strategies of corporations here are analyzed using the “governance triangle” that examines governance through coordination (the role of the state), governance through competition (the market), and governance through argumentation (civil society). Future global strategies must contend with this web of constraint.</p>\u0000 </section>\u0000 \u0000 <section>\u0000 \u0000 <h3> Managerial Summary</h3>\u0000 \u0000 <p>This paper suggests that managers need to recognize the web of constraints surrounding their strategic decisions. The three key vectors of external power are the state and government regulation, the power of civil society exercised through argumentation, and competitive action. Recognition of increasing pressure from the three vectors of power is the first step in reformulating global strategy. A wider acknowledgement and inclusion of stakeholders and increasing non-market strategic activity are no longer optional but are mandatory. Navigating these constraints suggests a new web of opportunity where the true long-run advantages of successful firms—flexibility and innovation—can be implemented.</p>\u0000 </section>\u0000 </div>","PeriodicalId":47563,"journal":{"name":"Global Strategy Journal","volume":"12 3","pages":"543-554"},"PeriodicalIF":7.6,"publicationDate":"2022-05-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/gsj.1444","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42292171","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Strategizing and economizing in global strategy","authors":"Christian Geisler Asmussen,&nbsp;Nicolai J. Foss","doi":"10.1002/gsj.1443","DOIUrl":"10.1002/gsj.1443","url":null,"abstract":"<div>\u0000 \u0000 \u0000 <section>\u0000 \u0000 <h3> Research summary</h3>\u0000 \u0000 <p>The strategic management and international business fields have followed, in some respects, quite similar intellectual trajectories, as reflected in the push for a field of “global strategy.” However, a key distinction in the strategy literature—namely, Williamson's distinction between “strategizing” and “economizing”—has not been explicitly recognized in the international business/global strategy fields. We argue that progress can be made in global strategy by recognizing this distinction and exploring the interaction between “strategizing” and “economizing.” To lend credence to this claim, we offer a simple model of the entry decision which highlights both economizing and strategizing aspects of this decision. We also offer recommendations on economizing-strategizing research in global strategy.</p>\u0000 </section>\u0000 \u0000 <section>\u0000 \u0000 <h3> Managerial summary</h3>\u0000 \u0000 <p>Multinational enterprises gain competitive advantage either by improving the efficiency with which they operate (by having unique resources, lowering costs, or improving managerial practices) or by exercising their market and bargaining power. Most research has emphasized the former source of competitive advantage. However, in actuality, the two sources are intertwined. We detail how they are intertwined by means of a simple numerical example of the entry decision facing a company that can choose between competing or collaborating with the local firm. We show that strategizing plays into the entry decision in this case.</p>\u0000 </section>\u0000 </div>","PeriodicalId":47563,"journal":{"name":"Global Strategy Journal","volume":"12 3","pages":"578-591"},"PeriodicalIF":7.6,"publicationDate":"2022-05-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/gsj.1443","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45923844","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Geographical reconfiguration in global value chains: Search within limited space?","authors":"Carlos Rodriguez,&nbsp;Luciano Ciravegna,&nbsp;Bent Petersen","doi":"10.1002/gsj.1441","DOIUrl":"10.1002/gsj.1441","url":null,"abstract":"<div>\u0000 \u0000 \u0000 <section>\u0000 \u0000 <h3> Research summary</h3>\u0000 \u0000 <p>Negative performance feedback in offshoring service activities entices firms to undertake geographical reconfiguration of their global value chains (GVCs) as a substitute for, or complement to, change of governance modes, decomposition of offshored activities, or shift of local service providers. In this study, we build on performance feedback theory and the concept of problemistic search to examine the extent to which firms move offshored service activities to new countries when facing negative performance gaps. We also examine if these relocations take place within a search space limited by the managers' cognitive span. We formulate a set of hypotheses revolving around this idea of search within a limited space. Our hypotheses are supported when tested on a sample of global sourcing projects undertaken by 223 firms between 1995 and 2012.</p>\u0000 </section>\u0000 \u0000 <section>\u0000 \u0000 <h3> Managerial summary</h3>\u0000 \u0000 <p>The essence of reconfiguration is the continuous search for efficient combinations of functions, local service providers (when functions are outsourced), governance modes, and—in our case—locations. Limiting the search for improved combinations to fewer locations entails a higher dependence on these locations maintaining the country-location-specific advantages that made them attractive in the first place. It is thus possible that multinational enterprise (MNE) managers who reconfigure their GVC in a geographically bounded way in the long run will struggle to compete with MNEs that search for optimality within a broader range of locations as possible remedies for the GVC operations that experience negative performance gaps.</p>\u0000 </section>\u0000 </div>","PeriodicalId":47563,"journal":{"name":"Global Strategy Journal","volume":"13 2","pages":"440-482"},"PeriodicalIF":7.6,"publicationDate":"2022-05-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/gsj.1441","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48769150","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"In the name of national security: Foreign takeover protection and firm innovation efficiency","authors":"Wei Shi,&nbsp;Boshuo Li","doi":"10.1002/gsj.1440","DOIUrl":"10.1002/gsj.1440","url":null,"abstract":"<div>\u0000 \u0000 \u0000 <section>\u0000 \u0000 <h3> Research Summary</h3>\u0000 \u0000 <p>This study investigates the influence of foreign takeover protection triggered by investment-related national security screening laws and regulations on firm innovation efficiency. Drawing on agency theory, we argue that an increase in foreign takeover protection can lead to a reduction in innovation efficiency—the amount of innovation output relative to innovation input—by encouraging managerial entrenchment that can result in ineffective allocation and use of R&amp;D resources. Such effects are weaker in the presence of monitoring from external governance actors—dedicated institutional investors and financial analysts. Using the enactment of the Foreign Investment and National Security Act in the United States as our empirical context, we find support for our arguments.</p>\u0000 </section>\u0000 \u0000 <section>\u0000 \u0000 <h3> Managerial Summary</h3>\u0000 \u0000 <p>Many countries have enacted investment-related national security screening laws and regulations to protect domestic high-tech firms from foreign acquisitions. Although the goal of these laws and regulations is to retain the country's leadership position in global innovation, it may unintendedly lead to a reduction in firm innovation efficiency—the effectiveness in transforming innovation input to output—by encouraging managerial entrenchment that can give rise to ineffective allocation and use of R&amp;D resources. Such effect is weaker when other external governance actors, such as dedicated institutional investors and financial analysts, impose stronger monitoring on managers. Our arguments are supported by empirical analyses in the context of the enactment of the Foreign Investment and National Security Act in the United States.</p>\u0000 </section>\u0000 </div>","PeriodicalId":47563,"journal":{"name":"Global Strategy Journal","volume":"13 2","pages":"391-419"},"PeriodicalIF":7.6,"publicationDate":"2022-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47039584","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Global strategy collections: Emerging market multinational enterprises","authors":"Torben Pedersen,&nbsp;Stephen Tallman","doi":"10.1002/gsj.1439","DOIUrl":"10.1002/gsj.1439","url":null,"abstract":"<div>\u0000 \u0000 \u0000 <section>\u0000 \u0000 <h3> Research Summary</h3>\u0000 \u0000 <p>This first collection of articles for global strategy focuses on the relatively new phenomenon of Emerging Market Multinational Enterprises (EMNEs). The first topic to draw real attention to articles in <i>Global Strategy Journal</i>, the study of EMNEs challenges many assumptions about what characteristics make a firm a successful MNE and forces a reconsideration of fundamental questions in strategic management. The articles in the collection provide a good introduction to the topic, but there is much more research on the topic in a variety of journals for those scholars considering the EMNE as a topic for their own research.</p>\u0000 </section>\u0000 \u0000 <section>\u0000 \u0000 <h3> Managerial summary</h3>\u0000 \u0000 <p>In the last couple of decades, we have seen the emergence of EMNEs that are competing globally. This primer on EMNEs points at the specificities of EMNEs including their ownership-specific advantages, their pattern of internationalization, their innovation strategies for catching-up, and not least how their ownership and the home conditions in less developed countries alter their behavior. These are important factors that serve to help scholars to understand the strategies and actions of EMNEs and how they gain their competitive strengths on the global scene.</p>\u0000 </section>\u0000 </div>","PeriodicalId":47563,"journal":{"name":"Global Strategy Journal","volume":"12 2","pages":"199-208"},"PeriodicalIF":7.6,"publicationDate":"2022-04-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/gsj.1439","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43944475","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Rent appropriation in global value chains: The past, present, and future of intangible assets","authors":"Peter J. Buckley,&nbsp;Roger Strange,&nbsp;Marcel P. Timmer,&nbsp;Gaaitzen J. de Vries","doi":"10.1002/gsj.1438","DOIUrl":"10.1002/gsj.1438","url":null,"abstract":"<div>\u0000 \u0000 \u0000 <section>\u0000 \u0000 <h3> Research Summary</h3>\u0000 \u0000 <p>The argument of this article is that global strategy research should devote greater attention to rent appropriation in global value chains (GVCs). We discuss the concept of intangible assets, emphasize their scalability at low marginal cost and highlight strategies for the appropriation of rents from these assets. Returns captured by intangible assets are shown to be much greater than those captured by tangible assets in GVCs of manufactured products. Regions in the world are found to be specializing in different GVC stages, with China rising as a key location for rent generation in upstream and production activities. We conclude that the rents from intangible assets are major drivers of economic development and of corporate success and offer insights into rent appropriation trends in the future.</p>\u0000 </section>\u0000 \u0000 <section>\u0000 \u0000 <h3> Managerial Summary</h3>\u0000 \u0000 <p>Intangible assets include computerized information (such as databases and software), innovative property (such as patents, trademarks, and copyrights), and economic competencies (such as brand equity and organizational capital). Our analysis shows that the returns to intangible assets in the GVCs of manufactured goods have risen substantially in importance over the past 20 years. A further finding is that within GVCs, the rent share of upstream stages has been increasing at the expense of rents shares of both the production and downstream stages. These findings suggest that the effective deployment, management, and protection of intangible assets is of critical importance to the ability of firms to create and maintain sustainable competitive advantages in global markets. In GVCs, intangibles matter, big time!</p>\u0000 </section>\u0000 </div>","PeriodicalId":47563,"journal":{"name":"Global Strategy Journal","volume":"12 4","pages":"679-696"},"PeriodicalIF":7.6,"publicationDate":"2022-03-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/gsj.1438","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48478378","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The importance of rare events and other outliers in global strategy research","authors":"Paul W. Beamish,&nbsp;Vanessa C. Hasse","doi":"10.1002/gsj.1437","DOIUrl":"10.1002/gsj.1437","url":null,"abstract":"<div>\u0000 \u0000 \u0000 <section>\u0000 \u0000 <h3> Research Summary</h3>\u0000 \u0000 <p>Rare events and other nonerror outliers (such as the COVID-19 pandemic) are important phenomena in global strategy contexts. Despite their salience, however, they have hardly been studied systematically in our field (or organizational research at large). We suggest that this is due to a dominance of the Gaussian paradigm, which (often unrealistically) assumes linearity and independence of observations. Moreover, case-based qualitative studies which offer contextualization have been underrepresented. We thus call on researchers to abolish the practice of habitually discarding outliers, reflect on nonnormal distributions, and pursue more qualitative studies. Journal editors and reviewers should widen their assumptions regarding “acceptable” papers and reflect on the requirement of contributing to big “T” theories. Finally, PhD training should juxtapose fundamental paradigms and associated implications for epistemological choices.</p>\u0000 </section>\u0000 \u0000 <section>\u0000 \u0000 <h3> Managerial Summary</h3>\u0000 \u0000 <p>Extreme occurrences, such as organizational crises, recessions, or pandemics, are challenges most practitioners deal with and worry about. Understanding their determinants, characteristics, and dynamics allows for heightened vigilance, preparedness, and ultimately performance. Yet, much of global strategy research (and organizational research at large) has focused on “average” phenomena, based on methodologies that assume bell-shaped distributions and independent observations. In this note, we argue that this is not a realistic way to think about most social phenomena. In fact, most are characterized by their high degree of interdependence among elements, as well as a relative commonness of “rare” events and outliers. As a result of embracing the reality of nonnormality, scholars will be able to offer more relevant guidance to practitioners.</p>\u0000 </section>\u0000 </div>","PeriodicalId":47563,"journal":{"name":"Global Strategy Journal","volume":"12 4","pages":"697-713"},"PeriodicalIF":7.6,"publicationDate":"2022-03-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/gsj.1437","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43234135","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}