How Firms Achieve Growth
15 important questions on How Firms Achieve Growth
The Build-Borrow-or-Buy Framework
What are the options to close the strategic resource gap?
- Borrow - refers to use of strategic alliances
- Buy - refers to acquiring a firm
How do firms evaluate the relevance of internal resources?
1) Similar to those the firm needs to develop
2) Superior to those of competitors in the targeted area
NOTE: if both conditions are met, internal resources are relevant and the firm should pursue internal development
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Build-Borrow-or-Buy Framework: STEPS
2) Determine whether your internal resources are superior to those of competitors. (use VRIO Framework)
(if no: internal development is not an option, so decide between borrow or buy)
(for external options..:)
3) Determine how tradable the targeted resources may be
4)
Build-Borrow-or-Buy Framework: What are ways to 'Borrow' resources from another company?
What happens if the resource is easy tradable?
What happens if the resource is not easy tradable?
- A deeper strategic alliance through an equity alliance
or
- A joint venture, or an outright acquisition
When should firms consider the M&A (buy) option?
Only if the 3 conditions (low relevancy, low tradability and high need for closeness) are met.
What are M&A's?
Merger: Two organizations join forces to become a new business, usually with a new name.
Acquisition: The purchase of one company by another; can be friendly or unfriendly.
- Most costly
- Complex
- Difficult to reverse
What is "Alliance Management Capability"?
What are the 3 Alliance Management Capability tasks?
2) Alliance Design and Governance
3) Post-formation Alliance Management
Alliance Management Capability Tasks: 1) Partner Selection & Alliance Formation
What is needed for successful alliance formation?
- Partner Commitment
Alliance Management Capability Tasks: 2) Alliance Design and Governance
oNon-equity alliance
oEquity alliance
oJoint Ventures
Alliance Management Capability Tasks: 3) Post-formation Alliance Management
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