Competing in the Information Age: Strategic Alignment in

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Language: English

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A receptionist can lead an initiative that has everyone in the office become more enthusiastic about the workplace environment. A subset of those people can actually turn a vague idea into a product or service that customers will spend cash money to buy. The successful execution of IT strategy – both the implementation of the resulting strategic programs and the support and maintenance of the evolving enterprise IT environment – depends on IT strategic resources especially IT people.

Pages: 432

Publisher: Oxford University Press (August 15, 1996)

ISBN: B001PTGOFA

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Product diversification concerns scope of the industries and markets in which the firm competes and how managers buy, create and sell different businesses to match skills and strengths with opportunities presented to the firm Diversification levels Single business Low Dominant business Moderate Related constrained to High >95% revenue from single business 70-95% revenue from single business <70% revenue from dominant business and all businesses share product, technological & distribution linkages <70% revenue from dominant business and limited linkages between businesses <70% revenue from dominant business and no linkages between businesses Diversifying to Enhance Competitiveness Related Diversification- Firm creates value by building upon or extending its resources, capabilities and core competencies • Economies of scope- Cost savings that occur when a firm transfers capabilities and competencies developed in one of its businesses to another of its businesses • Sharing activities • Transferring core competencies • Market power- when firm can sell its products above the existing competitive level and/or reduce the costs of its primary & support activities below competitive level • Vertical integration• Backward integration—a firm produces its own inputs • Forward integration- firm operates own distribution system to deliver its outputs Dr Amit Rangnekar 23 amitrangnekar@gmail.com Unrelated Diversification • Financial economies- cost savings through improved allocations of financial resources, create value through efficient internal capital allocations, purchase other corporations & restructure their assets • Efficient internal capital allocation- Corporate office distributes capital to SBU to create overall value • Business restructuring• Creates value by buying & selling other firms’ assets in external market • Focus on mature, low-technology businesses, not reliant on a client orientation Reasons for Diversification Incentives and Resources with Neutral Effects on Strategic Competitiveness: • Antitrust regulation, Tax laws • Low performance, Uncertain future cash flows • Risk reduction for firm • Tangible resources, Intangible resources Managerial Motives (Value Reduction) • Diversifying managerial employment risk • Increasing managerial compensation Strategic Motives • Economies of scope (related diversification) Sharing activities Transferring core competencies • Market power (related diversification) Blocking competitors through multipoint competition Vertical integration • Financial economies (unrelated diversification) Efficient internal capital allocation Business restructuring Diversification Methods- Internal Ventures, M&A, JV Internal Ventures Internal ventures make use of the R&D programs of the organization • Advantages- Control over the venture, information not shared, profits retained • Disadvantages- High failure risk, lot of time to execute, Internal resources locked Mergers and Acquisitions (M&A) Mergers & acquisitions sometimes undertaken to “buy” innovation than produce in-house • Add scale • Fast way to enter new markets and geographies • Acquire new products / services / technologies / knowledge and skills • Vertically integrate • Fill needs in the corporate portfolio • • • • Merger- when 2 firms agree to integrate operations on a relatively co-equal basis Acquisition- strategy where a firm buys a controlling, or 100% interest in another firm, to make the acquired firm a subsidiary business within its portfolio Takeover- A special type of acquisition when the target firm did not solicit the acquiring firm’s bid for outright ownership Most research indicates that mergers and acquisitions perform poorly Horizontal acquisition •Acquisition in the same industry increases firm’s market power by exploiting cost-based and revenue-based synergies •Acquisitions with similar characteristics result in higher performance than those with dissimilar characteristics Vertical acquisitions •Acquisition of a supplier or distributor of one or more of the firm’s goods or services •Increases a firm’s market power by controlling additional parts of the value chain Related acquisitions •Acquisition of a company in a highly related industry •Difficulty in implementing synergy, make related acquisitions difficult to implement Reasons for acquisitions Increased market power Overcoming entry barriers Low risk compared to NPD Develop new capabilities Competition Diversification Faster to market than NPD Problems with acquisitions Overestimation of synergies Recovering deal premium Integration Inadequate target evaluation Managing size Too much diversification Complacency Restructuring • A strategy through which a firm changes its set of businesses or financial structure • Failure of an acquisition strategy often precedes a restructuring strategy • Due to changes in the external or internal environments Restructuring strategies: Strategy What happens Down Reduction in number of sizing employees/operating units Down Divestment / spin-off to scoping eliminate non core businesses & refocus Leveraged A party buys the firm’s buyouts assets to take it private Can correct managerial mistakes, facilitate entrepreneurial growth Strategy where a firm sells its goods or services, outside its domestic market , source: Innovation: The Five read epub read epub.

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