bluuebunny/crossref_metadata_2025_split huggingface dataset:
Core Business
Authors: Smith Chris 
Published: January 2015

Abstract
At the heart of any business strategy is the fundamental value proposition that the firm offers to society. This is the core business of the firm and one in which it must excel in comparison to competitors and on which it must focus its resource development and investment. While other more peripheral, operational activities can be outsourced to other more specialized partners or suppliers the core business must remain the strategic and operating focus of the organization's management.
Functional Structure (
U
‐Form)
Authors: Smith Chris 
Published: January 2015

Abstract
The splitting of a business unit into separate components of its value chain such as manufacturing and marketing is the most intuitive and common way to structure an organization. This functional structure enables economies of specialization and focus and ensures that problems in specific areas are managed by experts in that area. Off‐setting the advantage of focus is the tendency for functions to lose sight of their interdependencies with other departments and their role in the overall performance of the firm.
Organizational Culture
Authors: Carnall Colin 
Published: January 2015

AbstractThe interest in organizational culture arose from the observation of dramatic differences in performance between nations over time and between organizations and sectors. Factors such as technology, strategy, structures, and management systems were unable to account for these differences. Differences both in national and organizational culture were seen as important sources of explanatory power.Various models of organizational culture have been brought forward. Some were obviously based on sound evidence. Others appear to have been derived from practical or consulting experience. Many have been very influential in management conferences, in business schools, deployed as consulting models and so on. In particular, the work of Trompenars is a good example of a model clearly routed in national and organizational level data that has been influential.Some authors distinguish adaptive and non‐adaptive cultures implying a “beyond‐culture” approach and this is both appealing and also problematic and it may will be that what we really need is a fuller treatment of the particular contextual factors that give rise to particular cultures at particular junctures of time and circumstance. In this article we consider culture through three lens – culture, rationality, and politics. Differences exist but it is to how these differences are perceived and how they are exploited (or not) that we must turn if we are to understand their impact and consequences longer term.
Joint Ventures
Authors: Channon Derek F. , Sammut‐Bonnici Tanya 
Published: January 2015

Abstract
Joint ventures are a way to enter new markets through the partnering of commercial resources. In markets that restrict inward investment, joint ventures may be the only way to achieve market access. Within joint ventures, equity positions are usually taken by the participants. Such holdings can vary substantially in size, although it is usually important to establish clear lines of management decision‐making control in order to achieve success. A lesser form of participation, which may or may not involve equity participation, involves strategic alliances. Joint ventures tend to have a relatively high failure rate. Nevertheless, they also enjoy a number of specific advantages. Joint venture agreements cover operational aspects such as legality, board and management structures, capital and equity management, financial rights, market rights of partners in different regions, and dispute resolution.
Turnaround Strategy
Authors: Angwin Duncan , McGee John , Sammut‐Bonnici Tanya 
Published: January 2015

AbstractTurnaround strategy is about doing different things and attempting to change companies' fortunes by fundamental adjustments in strategy, such as acquisition and divestment. Operating turnarounds are about doing things differently in terms of processes such as manufacturing, so that the firm's efficiency can be improved.Three categories of turnarounds are proposed: traditional asset cost surgery, product‐market pruning, and piecemeal strategies. The characteristics identified in successful turnaround strategies involve good management, which is seen to be critical to a sustained recovery. An appropriate organizational structure often means a much leaner one, with fewer layers in the hierarchy. Tightly controlled costs mean better controls, rather than cutting costs.Turnaround strategies typically go through three stages. In the first stage leadership and organizational culture face a restructuring. In the second stage costs are reduced, assets redeployed, and product and market strategies become more selective. As a result, the company moves to a third stage where it repositions itself in the market and industry.
Barriers to Entry and Exit
Authors: Avgeropoulos Stephanos , McGee John 
Published: January 2015

Abstract
Barriers to entry should technically be regarded as entry deterrent conditions. There are three broad categories of activities that deter entry; namely, structural obstacles to entry, risks of entry, and reduction of the incentive for entry. Barriers to exit are the activities and circumstances that commit a firm to its industry and its position within it. Discussion includes types of entry conditions and risks of entry.
Systems Model of Strategy
Authors: McGee John 
Published: January 2015

Abstract

The systems model (or map) of strategy is a system, that portrays how the individual elements of the larger system are interconnected by causality and through time. A systems model requires feedback between elements so that system behavior changes dynamically either through self‐adaptation or intentional adaptation (by managers). This model consists of the strategy map (the basic activity set), management systems, and management thought processes. The role of management, especially the top management team, is to manage the whole system so as to achieve desired objectives without undue perturbations or risks. Effective management of each element is not by itself sufficient to change the behavior of the whole system toward desirable objectives – it is the whole system that has to be the target for attention. From this systems perspective, top management is attempting to manage the intersections and interconnections between multiple external systems (the strategy
context
) and the organization itself.
Substitute Products
Authors: Avgeropoulos Stephanos , McGee John 
Published: January 2015

Abstract
Substitutes are goods or services which are consumed instead of one another. They can be identified by their positive cross‐price elasticity of demand. Two products can be strong or weak substitutes, according to how easy it is to switch between the two. However, substitutability is actually a continuous measure and the distinction between strong and weak substitution is quite arbitrary. Substitution is one of Porter's original five forces and has strategic implications for pricing and marketing policies and for long term defense of or attack on the positions of industry incumbents.
Transaction Costs
Authors: Avgeropoulos Stephanos 
Published: January 2015

Abstract
Transaction costs are costs involved in any transaction for the exchange of goods, services, or assets. They have two main components, transaction uncertainty and performance ambiguity. Transaction costs begin to be incurred during the preparation of a transaction and continue after it has been completed. Very high transaction costs may mean that an otherwise desirable transaction will be avoided. The desire to minimize transaction costs may lead to a reshaping of the transaction, internally or in ways that may include market internalization and mergers and acquisitions, thereby altering the organization, size and/or scope of a firm. As a result, transaction costs are also considered in the exercise of competition and regulatory policy
Advantage Matrix
Authors: Whitehead Jo 
Published: January 2015

Abstract
The Advantage or Environments Matrix, developed by the Boston Consulting Group, describes the impact of differences in the nature of the competitive advantage available to the leading players. Environments (i.e., industries or industry segments) can vary on the basis of the size of competitive advantage available (small or large) and the number of ways in which advantage can be achieved (few or many). Four combinations are possible, giving rise to four different strategic environments: Volume (large advantage possible and only few ways o achieve it), Stalemate (only a small advantage possible and one or few ways to achieve that advantage), Niche (large advantage possible and many ways to achieve it) and Fragmented (small advantage possible but many ways to achieve it). There are significant implications for industry profitability and strategy, however the matrix did not gain significant traction and frameworks such as Porter's five forces are generally regarded as offering a more sophisticated tool for analysing industry characteristics.
Segmentation
Authors: McGee John 
Published: January 2015

Abstract
The basis for market segmentation lies in the existence of different responses to price (and other marketing variables) by individuals or groups of individuals. Differentiation activities are intimately related to the existence of market segments. One of the most creative endeavors in strategy making has been the seeking out of new markets or market niches to which customized products can be directed. These segments are strategic in the sense that they are not imitable by simple adjustments of the marketing mix, and that advantage rests on the distinctive skills and capabilities required to customize the product offerings. They are strategic also in that they provide the basis for product range strategies in which price and quality are the principal variables.
Synergy
Authors: Channon Derek F. , McGee John 
Published: January 2015

Abstract
Synergy is the extra value addition achieved when two businesses are integrated together such that the sum of the whole is greater than that of the constituent parts. It is popularly described as “2 + 2 = 5.” It applies more generally to any benefits released by the combination of two separate elements. It is driven by the existence of potential economies of scale and scope but in practice has proved difficult to capture.
Sustainable Growth Rate
Authors: Channon Derek F. , McGee John 
Published: January 2015

AbstractThe sustainable growth rate is the rate of increase in thereturn on equityconsistent with a definedfinancial strategy, namely targets for debt to equity ratio, dividend payout ratio, profit margins, and total assets to sales ratios. Alternative formulations express growth in terms of return on total assets. The most important determinant of the growth of return on equity and return on assets is to leverage the debt equity ratio.
Generic Strategies
Authors: McGee John 
Published: January 2015

Abstract
Generic strategies are an attempt to categorize the various strategic options for competing in a market into a simple set of strategy types, a typology. Porter offered the first and most celebrated attempt at this following his seminal 1980 book on competitive strategy. He offered three main types: cost, differentiation, and focus. This was a simple but powerful approach that fostered better general comprehension of strategy forces. However, it suffers from conceptual difficulties primarily the assertion that cost and differentiation are mutually exclusive leading to the famous “stuck in the middle debate.” It also suffers from being too simplistic to capture the realities and complexities of differentiation strategies. It also largely ignores resource side considerations. The Mintzberg typology is noted as an alternative.
Technology and Standards in Network Industries
Authors: McGee John , Sammut‐Bonnici Tanya 
Published: January 2015

Abstract

The rapid growth of products from the information, computing, and telecommunications (ICT) economy depends on operating technology standards as well as on production costs. A technology standard is the important enabler to create wide reach and to capture a wide network of subscribers. With the globalization of commerce, national and regional boundaries blur and the need for international standards is more urgent and critical. Market‐based selection is reflected in standards wars such as that between Google led Android and Apple led
iOS
operating systems, where consumers decided on the extent of market diffusion of the standards. Negotiated standardization is becoming more widespread. Organizations that determine prevailing standards are emerging to reduce the cost and the uncertainty associated with adopting new standards.
Business Model
Authors: McGee John 
Published: January 2015

AbstractThis is a widely used term intended to provide the link between an intended strategy, its functional and operation requirements, and the performance (typically cash flows and profits) that is expected. It usually applies to single businesses where a specific competitive strategy can be identified, but it can also apply to those multi‐business portfolios that are linked by strong synergies and, therefore, have common or similar strategies. However, it is not a concept that has been clearly defined in the academic literature and finds much more expression among practitioners than academics.
Uncertainty
Authors: McGee John 
Published: January 2015

Abstract
Frank Knight made the famous seminal argument that uncertainty was the principal of profit in the sense that uncertainty was essentially the unpredictability of change. Textbooks commonly identify four main sources of uncertainty, namely technological uncertainty, market uncertainty, organizational uncertainty, and strategic uncertainty. McKinsey have more recently developed its own four categories – a clear enough future, alternate futures, a range of futures, and true ambiguity. This is in accord with the idea of strategy as shaping the future where the different classes of uncertainty call forth radically different strategies.
Value Creation and Value Analysis
Authors: McGee John 
Published: January 2015

Abstract
Value is the amount that buyers are willing to pay for the product or service that a firm provides. Profits alter when the value created by the firm exceeds the cost of providing it. This is the goal of strategy, and therefore, value creation becomes a critical ingredient in competitive analysis. Consumer surplus is a way of assessing customer value and value creation analysis shows the implications for consumer surplus of different pricing strategies. The contrast is drawn between share strategies and margin strategies that are the outcome of the interplay between price elasticities and nature of advantage.
Focus Strategies
Authors: McGee John 
Published: January 2015

Abstract
Focus strategies are about serving a particular customer group better than anyone else. They are based on practical variants of cost and differentiation allied to the idea of narrow scope. Focus strategies have distinct attributes and particular characteristics. They require specific skills and face an array of risks and threats. Focus strategies are, however, durable and this evidenced by the proliferation of successful, albeit risky, small businesses. Focus is related closely to ideas of market segmentation and the served market and is much discussed in the marketing strategy literature.
Strategizing Routines
Authors: McGee John , Menuhin Jonathan 
Published: January 2015

AbstractStrategizing routinesare the natural ways by which an organization carries out its strategic thinking, strategic planning, and the execution of strategic actions. The idea stems from Nelson and Winter's seminal paper on the evolutionary theory of the firm in which they identify two different kinds of routines, organizational and strategizing, and routine‐changing processes which they call governance. Research has emphasized the role of experiential learning and best practices.
Switching Costs
Authors: Avgeropoulos Stephanos , Sammut‐Bonnici Tanya 
Published: January 2015

Abstract
Switching costs are defined as the costs that consumers face in order to change between substitute products. Switching costs arise from all impacts that a substitute can have on the buyer's value chain, including any linkages with the supplier's value chain. They can be the result of investment by the buyer in high‐cost specialized equipment, investment in learning how to operate such equipment, or even the result of product specifications, which tie the buyer to particular inputs.
Typical switching costs include the costs of identifying, evaluating, and testing the substitute, the costs of product or process redesign, the costs of purchasing additional equipment, employee retraining costs, and the costs of the technical help needed to affect the changeover.
Switching costs typically change and fall over time. Early adopters of a new substitute have to develop their own technologies, procedures, and standards, and so in effect they subsidize subsequent adopters, who may find it easy to copy the early work.
As switching costs can lock‐in buyers, they constitute effective barriers to entry. Incumbent firms pursue switching costs and new entrants try to challenge them. Establishing high‐switching costs, however, may foster inflexibility.
First Mover Advantage
Authors: Channon Derek F. , Sammut‐Bonnici Tanya 
Published: January 2015

Abstract
First mover advantage can be defined as the competitive edge gained by firms entering the market earlier than competitors. The timing of strategic moves may be critical for success as a result of the positive advantages accruing to first movers. Being first has a significant payoff when: It enhances the firm's image and reputation with buyers; early entry can tie up key raw material sources, new technologies, distribution channels, and the like, so as to shift the cost boundaries of a business or industry; first time operators build customer loyalty which is hard to dislodge; it constitutes a preemptive strike which is difficult to copy.
Strategic Business Unit
Authors: Tanya Sammut‐Bonnici , John McGee 
Published: January 2015

Abstract
A strategic business unit (SBU) is an organizational subunit that acts like an independent business in many major respects, including the formulation of its own strategic plans and its own marketing strategy. An SBU may share its parent organization's corporate identity or develop its own brand identity, depending on the degrees of freedom allowed to the management of the division. A one‐fits‐all strategic approach would be inadequate in large, diversified organizations and multinational companies. Dividing the corporation's operations into SBUs increases efficiency and market focus. SBUs are found to be a viable form of organizational sectioning because they ensure that products and product lines are given specialized focus, as if they were developed and marketed by an independent company. The SBU is driven by its own mission, which would be independent of that of the parent firm and the other SBUs in the organization. It would operate in a competitive market space that is separate from other divisions in the corporation. The advantage of operating through an SBU is that it would create a strategically focused management structure that is not distracted by the wider product portfolio of the corporation. Corporations may experience some disadvantages when organizing their divisions through an SBU structure.
PEST
analysis
Authors: Sammut‐Bonnici Tanya , Galea David 
Published: January 2015

ABSTRACT
PEST is an acronym for four sources of change: political, economic, social, and technological. PEST analysis is a powerful and widely used tool for understanding strategic risk. It identifies the changes and the effects of the external macro environment on a firm's competitive position. Strategists seek to understand external factors and evaluate how business models will have to evolve to adapt to their environment. The impacts of external factors are mitigated through preemptive strategy and new opportunities are exploited in the wake of new competitive positions that may be created in the process. PEST analysis is used in conjunction with SWOT (internal strengths and weaknesses, external opportunities and threats) and Porter's five forces model (encompassing the external effect of suppliers, consumer demand, new entrants, substitute product, and competitive rivalry). PEST analysis works best when the environmental factors are analyzed from the perspective of the firm's resources, capabilities, and core competences. The process involved in exploring a firm's external macro environment involves five main stages: identifying PEST factors, analyzing possible effects on the firm, categorizing into opportunities and threats, prioritizing factors, and developing corrective or preemptive strategic action.
Strategy Tools
Authors: Barnett Paul , Sammut‐Bonnici Tanya 
Published: January 2015

Abstract
Research on the use and the implementation of strategic management tools shows that top management's view of them is mildly positive with varying opinions on their effectiveness. Over the years, 25 main management tools have been identified by ongoing research conducted by Bain & Company. The popularity of tools shifts over the years. Strategic Planning, Customer Relationship Management, and Employee Engagement Surveys feature first together in the latest survey. Mission and Vision Statements and Benchmarking are a diminishing trend. Critics of strategic tools see them as no more than thinking aids, and hope they also provide solutions. Strategic tools remain a valuable source to ignite discussion in management teams and to open up strategic thinking on competitive challenges. They contribute to the cognitive side of management in raising awareness of current commercial scenarios. It seems, however, that the tools that prescribe which decisions to take remain few and far between, and that decision‐making remains a mental process that is difficult to reduce to a set of tools and frameworks.
Cognitive Map
Authors: Sammut‐Bonnici Tanya , McGee John 
Published: January 2015

Abstract
Cognitive maps can be defined as mental images and concepts that are built to visualize and assimilate information. Visualization, the act of organizing information in visual spaces, is applied to both spatial tasks (such as design) and nonspatial tasks (such as strategic planning). Memorizing speeches often requires cognitive mapping of the subject. Cognitive maps are also referred to as mental maps, mind maps, schemata, and frames of reference. Strategists may review their business environment by creating cognitive maps, which act as tools to process knowledge. The maps provide a coping mechanism under conditions of complexity and uncertainty. Two types of mental processes are employed to build cognitive maps. System 1 thinking is a rapid, intuitive, instinctive, and automatic and System 2 thinking is slow, conscious, analytical, and deliberate. In cognitive communities, the decision makers' cognitive maps and strategic outlook provide the foundations for a common frame of mind that would influence how an industry evolves and develops. Cognitive maps do not always reflect reality and they are influenced by bias or misinformation. Cognitive inertia, unless reexamined by regular reviews of incoming information that refresh the strategists' understanding of the business environment, can lead to the decline of the business.