Henisz, Witold J., (2012) “Summary Of Global Strategic Management Frameworks, ” Ghemawat’s Aaa And Varieties Of Capitalism

1526 words - 7 pages

MGMT 611 Class 19 Henisz, Witold J., (2012) “Summary of Global Strategic Management Frameworks,” Ghemawat’s AAA and Varieties of Capitalism Ghemawat’s AAA  Global Strategy examines the additional opportunities, challenges, and tradeoffs posed when a company crosses national borders  Ghemawat contends that to create, capture, and sustain rents in international operations firms have three strategies they can deploy at the product level to respond to distance: 1. Adaptation – seeks to boost revenues and market share by maximizing a firm’s local relevance  Requires local autonomy but must trade off the gains from such decentralization against the costs of excessive heterogeneity and local ...view middle of the document...

Liberal Market Economies (LMEs) – solves coordination problems primarily through competitive market arrangements that operate via price signals


 Labor markets are fluid with little firm-specific training or coordinated wage bargaining  US, UK, Australia, Canada, NZ, Ireland 2. Coordinated Market Economies (CMEs) – depend more heavily on non-market relationships to coordinate distribution and resolve conflict  Institutions promote info exchange, mutual monitoring, and sanctioning of non-cooperative behavior, thus more consensus style management with less discretion in strategy making  Germany, Japan, Switzerland, the Netherlands, Belgium, Sweden, Denmark, Finland, and Austria Siegel, Jordan (2008) “Lincoln Electric” HBS Case 9-707-445 Key Facts  Founded in 1895, Lincoln International was leading global manufacturer in welding equipment and welding consumable products  Now 2006 and is in 19 countries across 5 continents, and has revenues of $1.6bn, op income of $153.5mm, and net income of $122mm.  CEO is John Stropki (since 2004)  Question is whether company should continue to globalize by making strong push into India and if yes, how it should enter  Company’s human resources and incentive system had led to industry-leading productivity advance in past  One of first to introduce employee stock ownership, incentive bonuses determined by merit ratings, creation of Employee Advisory Board, employee suggestion system, piecework pay, annuities for retirees, and group life insurance  Also had no-layoff policy and large share of profits shared via annual bonuses  Contributed to 60% of labor costs being variable  Highly entrepreneurial environment, including self-monitoring and largely selfmanagement  Significant R&D spend (~2% of sales) and leader in new market introductions and quality performance  By 2004 built regional engineering development centers in Shanghai and Poland, in addition to existing training and demonstration centers in Australia, Canada, Italy, Mexico, the Netherlands, Singapore, and Spain  One of few worldwide broad-line manufacturers of both arc welding equipment and consumable products -- provided welding solutions, not just individual products  Marketed and sold in 86 countries, and selling point was that it could offer advice to customers on how to use welding equipment without charging them directly for advice  Believed it had competitive advantage because of highly trained technical sales force and support of its welding R&D staff, which allowed it to assist consumers in optimizing their welding applications  Employees visited prospective customers and evaluated their welding requirements to make specific product recs along with a ROI projection  Originally wanted new acquisitions to operate in Lincoln US’s image and to be led by managers from Cleveland

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 This led to difficulties during 1980s expansion period, and many local managers and local employees did not believe Lincoln USA’s...

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