1、战略管理理论与实践的新发展战略管理理论与实践的新发展USTCResearchSeminar,2012A RoadmapvA Glimpse of My Research Areasv战略管理管理与实践The Questions I AskQ1:Strategic Networks and AcquisitionsvWhat will firms choose among internal development,alliances and acquisitions?A multi-level framework of firm boundaries:Firm characteristics,d
2、yadic differences,and network attributes(with Lin,Z.,&Lin,Y).Strategic Management Journal,2010v How will alliances affect acquisitions?Behind acquisitions of alliance partners:Exploratory learning and network embeddedness(with Lin,Z.,&Peng,M.).Academy of Management Journal,2011How do networks and le
3、arning drive M&As?An institutional comparison between China and America(with Lin,Z.,Peng,M.,&Sun,L.).Strategic Management Journal,2009vNetwork dynamicsStructural vs.individual perspectives on the dynamics of group performance:Theoretical exploration and empirical investigation.Journal of Management,
4、2005The Questions I Ask-ContdQ2:Alliance PortfoliovWhat are the performance implications of a firms alliance portfolio?The performance consequences of ambidexterity in strategic alliance formations:Empirical investigation and computational theorizing(with Lin,Z.,&Demirkan,I).Management Science,2007.
5、Alliance partners and firm performance:Resource complementarity and status association(with Lin,Z.,&Arya,B).Strategic Management Journal.2009.Exploration versus exploitation in alliance portfolio:Performance implications of organizational,strategic,and environmental fit(with Yamakawa,Y.,&Lin,Z.).Res
6、earch Policy,2011.Exploration or exploitation?Small firms alliance strategies with large firms(with Zheng,Y.,&Zhao,X.)under 2nd review at Strategic Management JournalDoes familiarity foster innovation?Repeated R&D alliances and breakthrough innovations(with Zheng,Y.)Under 2nd review at Academy Manag
7、ement Journal.The impact of prior alliances with current competitors on innovation races in the US Pharmaceutical industry(with Cui,V.&Vertinsky.I.)Under 2nd review at Academy Management Journal.The Questions I Ask-ContdQ3:EO researchvWhat are the antecedents and consequences of EO?Where do entrepre
8、neurial orientations come from?An investigation on their social origin(with Dess,G).In G.T.Lumpkin&J.A.Katz(Eds.),Advances in entrepreneurship,firm emergence,and growth,2007,vol.10:223-247.Greenwich,CT:JAI Press.Entrepreneurial orientation:Assessing the constructs validity and addressing some of its
9、 implications for research in the areas of family business and organizational learning(with Dess,G.,&Pkinkham,B.)Entrepreneurship Theory and Practice,2011:1077-1090.Entrepreneurial orientation and firm performance:The moderating effects of intra-and inter-organizational contexts(with Dess,G.,&Robins
10、,J.)Under review at Strategic Management JournalThe Questions I Ask-ContdOther QsProduct InnovationManagerial networks,organizational innovation,and firm performance in a transition economy(with Shi,W.,&Wang,J.).Working paper.Ambidexterity in product innovation management:The direct and contingent e
11、ffects on product development performance(with Atuahene-Gima).Working paper.Market knowledge domains,market situation interpretation,and the nature of innovation competence development(with Atuahene-Gima).Working paper.vCorporate GovernanceDoes family business excel in firm performance?An institutio
12、n-based view(with Liu,W.,&Zhang,G.)Asia Pacific Journal of Management(Forthcoming).Executive compensation in Asia:A critical review and outlook(with Sun,L.,&Zhao,X.)Asia Pacific Journal of Management 2010.Definition:Strategic management consists of the analysis,decisions,and actions an organization
13、undertakes in order to create and sustain competitive advantages.Key attributes of strategic managementDirects the organization toward overall goals and objectives.Includes multiple stakeholders in decision makingNeeds to incorporate short-term and long-term perspectivesRecognizes trade-offs between
14、 efficiency and effectiveness战略管理的概念 案例：框架媒介与分众传媒vAnalysis:框架媒介在2004有两个主营业务：电梯平面媒体广告与液晶屏广告，年入4000万，估值3200万。全国广告业务市场竞争对手众多，利润率低，且主要对手分众传媒2005年中即将上市。vDecision:集中经营、行业整合vAction:2005年2月启动，6月结束，整合了6家主要竞争对手。卖给分众传媒，估值3.49亿美元。战略的四个基本问题vWhy are firms different?vHow do firms behave?vWhat determines the scope
15、of the firm?vWhat determines the success or failure of the firm in international competition?战略管理理论的发展历程（一）v启蒙期：以环境为基点的经典战略管理理论（1930s-1970s）Barnard,C.1938.“The Functions of the Executives”Chandler,A.1962“Strategy and Structure:Chapters in the History of Industrial Enterprise”v 基本观点、企业的战略出发点是适应环境；、高层
16、经理人是战略制订的设计师，负责计划的全过程；、组织结构与战略相适应。战略管理理论的发展历程（二）v奠基与初步发展期(1980s)产业组织战略学派Porter,M.1980“Competitive Strategy”Strategy as a field emerged:SMS and SMJ launched.基本观点、Structure-Conduct-Performance(SCP Model)、五力模型、价值链分析是竞争优势的来源战略管理理论的发展历程（三）v发展期(1990s)以资源、知识为基础的核心竞争力理论Barney,J.1991.“Firm resources and sust
17、ained competitive advantage”Peteraf,M.1993.“The cornerstones of competitive advantage:A resource-based view”基本观点、resource heterogeneity 2、resource immobility(Isolating mechanisms:causal ambiguity,specialized assets,switching cost,patents,reputation,culture,legal restrictions)3、valuable,rare,non-imit
18、ablity,nonsubstitutability for sustainable competitive advantages战略管理理论的发展历程（四）v百家争鸣期(2000s-)Competitive Dynamics(动态竞争理论)、行动导向、现实导向如多点竞争、任何优势都是暂时的：自我否定如IBM，又如柯达、resource similarity vs.market commonality、awareness-motivation-capability(AMC):Puppy dog(Haier),Top dog(Netscape),lean-and-hungry look(Nike
19、,P&G),fat cat(IKEA)、asymmetrical competitionChen&Miller(2012)“Competitive dynamics:Themes,trends and a prospective research platform”The Academy of Management Annals.Figure 1 Comparison of Five Forces Analysis and Competitive Dynamics Perspective战略管理理论的发展历程（四）社会网络理论(social network theory)BACD社会网络理论v
20、基本观点 Network structure and content affect firm behavior and ultimately affect firm outcome.Networks as resource access Networks as a source of trust Networks as a source of power and control Networks as signaling mechanisms企业联盟网络企业联盟网络vCollaboration and competition in alliance networksCo-opetion:Son
21、y-Ericsson,Yahoo-ebay,GM-Toyota(learning race)vNetwork structure work content Centrality vs.structural holes strong vs.weak ties political vs.business ties战略管理理论的发展历程（四）vReal Options(期权理论)Strategy as a portfolio of real options Option value as a component of the total value of the firm;specific inve
22、stment with optionlike properties;options and abandonmentReal Options:达能中国攻略时间表v1987年，成立广州达能酸奶公司。v1994年，与光明先后合资建立了上海酸奶及保鲜乳两个项目，达能占45.2%的股份。v1996年，收购武汉东西湖啤酒54.2%的股权；与娃哈哈成立5家合资公司，达能获得41%的股权,共同生产以“娃哈哈”为商标的包括纯净水、八宝粥等在内的产品。收购深圳益力食品公司54.2%股权。v2000年3月，达能收购乐百氏92%的股权。v2001年，达能亚洲有限公司参股光明，比例为5%。v2004年，收购梅林正广和饮
23、用水有限公司50%股份。v2005年4月，达能亚洲持有光明乳业(6.37,0.09,1.43%)股权增至9.7%，成为该公司第三大股东。v2005年10月，达能亚洲第三次增持光明乳业1.85%股权，股份总计11.55%。到2006年4月，增持光明股权达到20.01%。v2006年7月，法国达能以持股22.18%的比例成为中国汇源集团的第二大股东。v2006年12月，达能与蒙牛组建合资公司，达能持股49%。致力于酸奶等产品的生产、研发与销售。v 2007年2月，达能在汇源果汁(1886.HK)IPO时行使优先认购权，将所持汇源果汁的股份由上市前的22.18%增持至24.32%v 2007年5月，
24、达能与娃哈哈引起兼并纠纷。v 2009年9月，达能同意将其在各家达能-娃哈哈合资公司中的51%的股权出售给娃哈哈。此次股权转让价格为3亿欧元。其它理论vTransaction-cost economicsvInstitutional theoryvAgency theoryvResource-dependence theoryvOrganizational learning theoryvPopulation ecologyvDynamic capabilitiesvProspect theoryv战略理论演变的基本规律v内（计划、分析）外（产业结构）内（核心能力、资源）外（联盟及网络）v竞争
25、由弱到强：计划学派结构学派动态竞争学派v战略思维从线性到非线性，环境的不可预见性v多种理论的结合理论的运用：联盟与兼并的选择vCoca Cola and P&Gs health drinks business vIntel and DSP communications wireless chips in handsets vA biotech firm with new drug and a pharmaceutical giant with the ability to get FDA approval理论的运用：苹果的成功与危机vIndustry perspective:industry
26、attractivenessvValue chain analysisvResource-based view:talents,extensive R&D,financial resources,brand,patents,marketing skillsvBusiness-level strategy:differentiationvCorporate-level strategy:related diversificationvUpper echelon theory:The role of Steve JobsvInstitutional perspectivev Competitive dynamics:competition between closed system vs.open system(windows&Android)Figure 1.Distribution of value for iPhone,2010 Figure 2.Distribution of value for iPad The End&Thank You!
