Introduction to Institutional Context
5 important questions on Introduction to Institutional Context
What is the strategy tripod?
1. Resource based view (RBV) - Role of 5 forces in industry and position as low-cost leader or differentiator
2. Industry based view (IBV) - Role of unique resources possessed by firms that are valuable, rare, difficult to imitate or substitute
3. Institutions based view - influence of the broader context on firms and their behaviours
Why do firms differ according to the 3 tripod views?
IBV - because of unique industry positioning
institutions - NO DIFFERENCES: isomorphism, similarities in institutional frames
DIFFERENCES: differences between institutional contexts, countries differ in degree of institutional development/change, differences in institutional capabilities
How do firms behave according to the 3 tripod views?
IBV - find different industry positions
Institutions - descriptive, describes how firms conform to various institutions
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What determines the scope of a firm according to the 3 tripod views?
IBV - diversifying in unrelated areas to spread risk
institutions - looks through cognitive, normative and regulative goggles to see how institutions affect scope
What determines succes and failure of firms from an institutional perspective?
2. Influencing the rules through lobbying or institutional entrepreneurship
3. Industry position (but influenced by institutional context. E.g. low prices can mean cost leader in America, but bad quality in Japan)
4. Legitimacy in institutional context
The question on the page originate from the summary of the following study material:
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- Never study anything twice again
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