Introduction to the theme
10 important questions on Introduction to the theme
A RBV- perspective on strategic alliances (just read this part)
›…the crucial distinction between acquiring such skills in the sense of gaining access to them – by taking out a license, utilizing a subassembly supplied by a partner, or relying on a partner’s employees for some critical operation – and actually internalizing a partner’s skill has seldom been clearly drawn.” ›“As long as a partner’s skill are embodied only in the outputs of the venture, they have no value outside the narrow terms of the agreement. Once internalized, however, they can be applied to new geographic markets, new products, and new businesses.”
What is Barney’s critique on the model of Porter to explain competitive advantages of firms? Barney (1991)
- Porter’s model assumes that firms in one industry are identical in terms of the strategically relevant resources they control and the strategies they pursue.
- In case resource heterogeneity develops, this won’t be for long because the resources that firms use to implement their strategies are highly mobile.
- Concerning the RBV, these two assumptions eliminate firm source heterogeneity and immobility as a possible source of CA.
How does Barney define sustained competitive advantages? Barney (1991)
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
For my 1st exam I got a C. Then, I started looking for ways to learn better and I came across Study Smart. Since then I have scored a A+, A, A- and another A. I highly recommend it to everyone who wants to hear it. I am so happy with it!!
I was struggling to finish all my first-year subjects for 3 years. Then I discovered Study Smart, which helped me to finish all of them within 3 months.
Because of StudySmart, things are going well in many ways. Before, I always had study stress and no time for anything. Now I feel calm and confident (because of the program). I used to score a B, now I usually score an A or A+.
Hey Chris, I really want to thank you very much for developing the platform, I usually got around C for my exams, now I scored an A+, an A and a A- !!
Since using Study Smart, my average has increased significantly. I even completed a statistics course with a A+ while I'm bad at statistics. I took on extra courses this year, because of Study Smart. Thanks so much!
Ever since I started studying with StudySmart I passed all my exams !!! No more re-sits!! At first, I was happy with a pass and now I only get good grades. Many thanks!
I aced all the courses I studied with Study Smart. For law, I first scored a D, and now an A! I’m 100% sure that I’ll pass all the courses I study with Study Smart.
I always thought I studied well. My grades were fine. I could never have imagined that applying these study skills would have such a huge and direct impact on my grades, my speed and the pleasure I have in learning.
For the first time, I finally feel totally confident about the way I learn. I have the perfect overview and make great progress in terms of speed and the grades I get. Thanks, Chris!
I immediately started to enjoy learning again, and my grades soared. All of a sudden, everything went better. I highly recommend Study Smart to all students..
Being able to create my materials online made the process of studying so much smoother and quicker. I no longer have to spend a huge amount of my time on creating my summaries.
At first, my notes were a mess. Now I use Study Smart to take my notes in a perfectly structured way. It helps me to save a lot of time and do other things I enjoy.
Students that study with Study Smart get better grades. The system applies all the learning methods in such a way that both well-performing students and students who struggle perform much better.
Hi Chris, I would like to thank you very much. Last year I scored C on a course, and this year I got an A+ thanks to your method! Thank you very much!
The largest effect is that my child is more enthusiastic about school! Every parent wants their children to be happy at school, Study Smart made it happen.
In high school, I failed several exams, and that has really changed now. I actually needed this tool very much back then. Since I started studying with StudySmart, I haven't had any D's. My average score is now an A and those are results I would have never had in the past
With my old method, I passed only 3 out of 8 courses. Since I started taking my notes digitally in Study Smart, I have passed all my courses on the first try. For me, StudySmart takes away the stress of wondering if I will pass or not.
Thanks to StudySmart, I passed all my exams, and with better grades than before! On top of that, I have mastered a very good study method now, which I am confident will help me earn my degree.
Explain how Dyer & Singh’s paper both builds and extents the framework of Barney. Dyer & Singh (1998)
What are typical characteristics of market transactions? What are the implications for the formation of relationships between firms? Dyer & Singh (1998)
- 1.Nonspecific asset investments,
2.Minimal information exchange
3.Separable technological and functional systems within each firm that are characterized by low levels of interdependence
4.Low transaction costs and minimal investment
·Easiness of switching trade partners, but incapability of creating relational rents (supernormal profit) because there is nothing idiosyncratic about the exchange relationship that enables the two parties to generate profits above and beyond what other seller-buyer combinations can generate.
How do alliances that generate competitive advantages (i.e., create relational rents) depart from market transactions? Dyer & Singh (1998)
- .Investments in relation-specific assets
2.Substantial knowledge exchange, including
3.Combining of complementary, but scarce, resources or capabilities
4.Lower transaction costs than competitor alliances, owing to more effective governance mechanisms.
·Alliances generate a CA only as they move the relationship away from the attributes of market relationships.
What are the three types of asset specificity and what is their effect of the creation of relational rents? Dyer & Singh (1998)
2.Physical asset specificity: refers to transaction-specific capital investments that tailor processes to particular exchange partners. It allows for product variation and higher quality by increasing product integrity or fit.
3.Human asset specificity: refers to transaction-specific know-how accumulated by trans actors through long-standing relationships. Communicate more efficiently and effectively, reducing communication errors and thereby enhancing quality and increasing speed to market.
What are the two types of governance mechanisms that Dyer & Singh mention in their paper? Give an example for each type. Dyer & Singh (1998)
- 1.Third-party enforcement of agreement: TCE: Third party enforcer (state, contracts): Laws against monopolism (Kaisers-Edeka Fusion)
2.Self-enforcing agreement: Safeguards that allow for self enforcement
a.Formal safeguards: financial and investment hostages: to control for opportunism: stock purchases of the other company
b.Informal safeguards: Goodwill trust or Embeddedness, Reputation:
Give an example for inter-organizational asset interconnectedness. Dyer & Singh (1998)
If firms do not own strategic resources they could consider purchasing them on markets (e.g. through consultants, hiring a manager from a competitor). Do you agree or disagree with this statement?
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
