...Business and Management International Market Expansion Strategies for High-Tech Firms: Partnership Selection Criteria for Forming Strategic Alliances Øystein Moen (Corresponding author) Norwegian University of Science and Technology (NTNU) Department of Industrial Economics and Technology Management N-7491 Trondheim, Norway Tel: 47-7359-3505 E-mail: Oeystein.Moen@iot.ntnu.no Ottar Bakås SINTEF Technlogy and Society, Department of Industrial Management N-7465 Trondheim, Norway E-mail: ottar.bakas@sintef.no Anette Bolstad Norwegian University of Science and Technology (NTNU) Department of Industrial Economics and Technology Management N-7491 Trondheim, Norway Vidar Pedersen Investment Office Nordic, Telenor Nordic Finance Snarøyveien 30, N-1331 Fornebu Tel: 47-9823-2599 E-mail: vidar.pedersen@telenor.com Abstract Newly established, technology-based firms entering international markets often have limited resources in terms of capabilities, time, and capital. As a consequence, these firms often use entry modes characterised by low resource commitment, including partnership agreements (strategic alliances). This paper, investigates which partner selection criteria that are important for this group of firms when they are selecting partners. Based on case studies of three Norwegian firms targeting the UK market, five selection criteria have been identified as important (trust, relatedness of business, access to networks, access to market knowledge, reputation)...
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...Advancing trust in the mexican marketplace Bernardo altamirano rodriguez Found and CEO-BBB Mexico (better business bureau, founded in 1912 in Mexico) 1. Why I built the BBB in Mexico 2. Advances given 3. Development of practices and ideas for the allowance of institutions 4. Identify context of Mexican econmy 5. Business without borders a. Economic = trade liberalization and structural reforms b. Political = impact of the state in the economy and markets i. State participation in economy. c. Social = explaining middle class origins ii. Difference between US origins and Mexican middle class. iii. Different tiers of government, and public work are the two main sources of middle class in Mexico. d. Culture = risk averse and prejudices towards businesses iv. Mexico is more risk averse to investment of money and larger prejudices towards starting businesses. v. Important community belief is that making money is not good. “rich capitalist” ideal. e. Rule of law = different legal systems and property rights vi. Different legal systems (property rights system) and considerations are important because. vii. Napoleonic law 6. Shared heritage of the US and Mexico f. We share historical origins and geographical conditions (10 states) g. Common cultural values however: viii. Different behaviors when crossing the border (both sides) ix. Huge...
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...Trust in the Buyer-Seller Relationship -Rajagopal (2008). Buyer–supplier relationship and operational dynamics. Journal of the Operational Research Society, 60, 313-321. Retrieved from https://mail-attachment.googleusercontent.com/attachment/u/0/?ui=2&ik=8df4cba13e&view=att&th=13bd533efba7fae4&attid=0.6&disp=inline&safe=1&zw&saduie=AG9B_P8TJ-WNmgQFWQD9AhqVeV_P&sadet=1356604133902&sads=GsDnMF7K2qC_dTfR3LG1zJ46YzM. -Stanko, M. A., Bonner, J. M., & Calantone, R. J. (2007). Building commitment in buyer-seller relationships: A tie strength perspective. Industrial Marketing Management,38(6), 1094. Retrieved from http://search.proquest.com/pqcentral/docview/204596342/13B416BAF5B23C10E4/1?accountid=14375. -Claycomb, C., & Frankwick, G. L. (2010). Buyers' perspectives of buyer–seller relationship development. Industrial Marketing Management, 39(2), 252-263. doi:10.1016/j.indmarman.2008.08.004 Abstract: Relationships are around us everyday. We have small relationships from the baristas at Starbucks to our spouses, who we make legal and emotional commitments to. Either way, our daily life is formed by all the relationships we encounter; how we react, behave, and relate to them reveals to us everything we need to know about who we are and what is important to us. Business relationships have many dimensions to it. There are many different ways to achieve a successful business relationship. This paper will review and analyses three different...
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...Trust and Interpersonal Relationships MGT 521 Ryan Lueders March 17, 2011 As more and more companies are moving from individual assignments to projects that demand a team effort, it has become increasingly necessary that there be a level of trust between team members to complete their assignments not only by a designated dead line, but thoroughly and professionally. Maintaining or losing that trust seems to simply come down to the day to day actions of the individual. If team members come from the same organization, it may be supposed that an established level of trust is in place. However, as new project teams are formed the level of trust that is initially granted varies dependent on several variables. In a study completed by Spector and Jones (2004) indicated that the level of trust from one male to another was higher than from a male to a female; though there was no difference between two females. It may be concluded from this study that there may well be a gender bias where trust is concerned. During the initial trust phase, the amount of trust allotted may also be dependent upon “the belief that actions from another party will be motivated by good intentions” (Spector & Jones, 2004). Spector and Jones (2004) have indicated the “degree to which an individual consistently deals with people as if they are well-meaning and reliable across situation…” (Spector & Jones, 2004). Spector and Jones go on to state that most people will trust another until untrustworthiness...
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...Abstract Over the past ten years, public trust in the accounting profession has been diminished due to financial scandals brought on by poor decision making, dishonesty and a move away from morals, values, and ethics. With the perception of accounting at an all-time low, there is a need to reinvent the profession. The following pages of this research paper will examine the Model of Organizational Trust, and its three elements of ability, benevolence, and integrity. The three elements will be defined and explained using support from peer-reviewed articles. The report will also discuss the ways in which the elements are incorporated in the AICPA’s Code of Professional Conduct. The elements will be examined to learn the ways in which they help to promote trust in the accounting profession and finally, suggestions will be proposed to help improve public trust in the accounting profession. Introduction An essential component every profession must possess in order to garner satisfaction and commitment from clients and customers is trust. Trust cannot be gained quickly; it is developed over time through interactions, observations, and an understanding of another’s beliefs and values (Mayer, Davis, Schoorman, 1995). However, a person’s stated beliefs do not often dictate their behavior. In pursuit of professional goals, individuals often set aside what they know to be right and act in a manner that benefits them either financially, with recognition, or in some other manner (Six...
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...the importance of knowing business etiquette, especially when dealing with business partners from foreign countries and/or other cultures. Oftentimes, business partners in foreign firms have different cultural practices and customs. Being aware of these various customs and practices is crucial to being successful in an international business environment. The importance of these customs to their cultures can vary into such extremes as describing proper manners in situations to outlining how to live a proper life according to the religious practices of the country. These customs can dictate basic protocol for certain situations, guidelines for proper nonverbal communication, ways to show gratitude correctly, and the words you choose to use. There are six considerations to keep in mind when dealing with business etiquette across cultural boundaries: 1. Be prepared, 2. Slow down, 3. Establish trust, 4. Understand the importance of language, 5. Respect the culture, and 6. Understand the components of culture. These components include aesthetics, attitudes and beliefs, religion, material culture, education, language, societal organization, legal characteristics, and political structures. Understanding these basic considerations and components can improve the success of your global and international operations as well as increase the effectiveness of those operations. Situation Analysis: This case deals with primarily with making people aware of the importance of knowing...
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...economy in China is growing and is one of the largest in the developed world. Chinese consumption is at an all-time high as the economy grows and the middle class develops. This growth will produce a demand for Company A’s products that is sustainably greater than those in other Eastern markets. Finally the Chinese market values Western products in a way not comparable in Japan or South Korea. In Japan and Korea, American products are generally considered inferior and expensive. The Chinese highly value American products and will pay a premium price to obtain them. There will be two types of customers that Company A can market engine parts to. The first type of customers are manufacturing firms that make truck engines in China and then sell the completed engines to truck makers. These firms include companies like Qingdao Seize. Company A’s specialized product will produce a higher quality component engine than currently available domestically. Company A can target the manufacturers of engines and market the product as a high end product that previously was only available to the Western market. China, with its new found wealth highly values Western products that are touted as being superior to domestically...
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...Multicultural buyer/supplier relationship: the impact of importance of trust and ease of adaptation on continuity. Multicultural buyer/supplier relationship: the impact of importance of trust and ease of adaptation on continuity. Summary Abstract: 2 Introduction: 2 I) Theory: 3 Research question 3 II) Literature review: 3 Buyer-supplier relationship 3 Importance of trust 3 Adaptation 3 Continuity 4 Culture and buyer-supplier relationship 4 III) Hypothesis and conceptual framework 5 IV) Methodology 7 Research Design 7 Data Collection 7 Reliability and Validity analysis 8 Model significance and assumptions 9 V) Results 13 Hypothesis validation 15 VI) Limitations and further research: 16 Conclusions and managerial implications 18 Appendix 19 Survey: 19 References: 20 Multicultural buyer/supplier relationship: the impact of importance of trust and ease of adaptation on continuity. Abstract In today’s globalized world, more and more companies are dealing with international partners or tends to integrate international territories in order to expand their business. Those companies have, thus, a strong need to understand the impact of cultural differences on the working relationships between key dyads in the business process. The purpose of this study is to investigate the effects of cultural differences on specific factors (Importance of trust, Ease of adaptation and continuity) that determine the efficiency...
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........ Durhan Wood 3268672 .......................................................... N.B. If you do not agree to the above declaration, please do not sign the declaration form instead submit a written statement expressing your disagreement to the academic coordinator who in turn will make arrangements to investigate your claim. Should the reviewers of your work find out that your declaration is fraudulent and that you plagiarised your work or part of your submission, please note that the University policy (ies) applicable to acts of plagiarism and dishonest will apply. A study analysing the effect that collaboration, information sharing, joint relationship effort, dedicated investments, commitment and trust, satisfaction and performance have on Supply Chain Relationships in the retail food sector in the Western Cape Introduction The purpose of this study is to reflect the impact that various...
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...International Business CEC Project, Focus: China Timeframe: February 18th to April 7th February 14th- China Shadow Banking: 6 Trusts Linked To Debt-Ridden Coal Company, Liansheng Group, Facing Default Risk Shadow banking can be seen as institutions that are not under the same regulations as traditional banks, primarily because they do not accept traditional deposits. This allows for banks to work with and sell higher yield products that also carry varying degree of risk without undergoing the regulations put forth by a government. In China, this has been problem as over the years many of these firms in the shadow banking industry has had trouble repaying the debts they owed on the instruments they sold. One such firm, Jilin Trust, is about to default on the loan given to the Liansheng Group, which will be the fifth time the firm has defaulted on paying products that have matured. Five other trust firms also invested in the Liansheng coal mining Group, even though it has been in debt for a considerable amount of time. Jilin Trust has made news primarily from the fact that it has already failed to pay 763 million yuan in maturing high-yield investments it sold to China's second largest lender. This is very problematic for China, as it can lower the faith investors have in the nation. If some of the largest trust firms have been unable to pay back investments they were selling, there is some sense of avoidance to not buy their products or further invest if there is no guarantee...
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...Trust, Repute, and the Role of Nonprofit Enterprise [The book version] by Andreas Ortmann* & Mark Schlesinger** Abstract In this chapter we examine the trust hypothesis: the proposition that information asymmetries between providers and consumers of services can explain the existence of nonprofit enterprise in certain markets. We argue that this hypothesis, in order to be viable, has to meet three challenges: (1) the de jure inability of nonprofits to distribute profits to shareholders and/or management must affect incentives within the nonprofit firm in ways that are compatible with trustworthiness (Aincentive compatibility challenge@), (2) nonprofit behavior must not be adulterated by individuals taking advantage of the perceived trustworthiness (Aadulteration challenge@), and (3) nonprofit status must be treated as a reliable predictor of organizational behavior by consumers, when the reputation of individual firms is not seen as reliable (Areputational ubiquity challenge@). We propose that the trust hypothesis stands on shaky ground. It can be sustained only under particular conditions that have been neither carefully described in theory nor subject to empirical assessment. The available evidence, patchy and inadequate as it is, seems to suggest that there are ownership-related differences in the organizational behavior of non-profits and for-profits. However, there is little evidence that these differences can be connected to trust per se or provide a rationale for the existence...
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...The impact of buyer-supplier relationship and purchasing process on the supply chain performance: a conceptual framework Melody J. Hsiao University of Sydney Sharon Purchase University of Western Australia Shams Rahman University of Sydney ABSTRACT Supply chain performance is a rapidly developing area of research. Many companies are trying to find tools for enhancing performance measures in response to turbulent business markets and for efficiently controlling their business activities. Little empirical research has been conducted on the performance of retail supply chain in Taiwan and other Asian countries. Two factors affecting current retail supply chains, buyer-supplier relationships and purchasing processes, and their antecedents that are relevant to this unique cultural environment will be investigated. The objectives of this research are: (1) to identify the determinants affecting the performance of the supply chain at the retail level; (2) to define the antecedents related to each determinant; and (3) to present the conceptual model for this particular context. This research will contribute by presenting a conceptual model for supply chain performance that is relevant to small and mediumsized businesses that predominate Taiwan. INTRODUCTION Supply chain management (SCM) is “a key strategic factor for increasing organizational effectiveness and for better realization of organizational goals such as enhanced competitiveness, better customer care and increased profitability”...
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...Human resource departments in advising firms across the country select highly qualified individuals to represent the firm and the families of whom they serve. This is a rigorous process because it is of the utmost importance to hire good people that conduct themselves in an honorable manner and that can be trusted. It is imperative that advisors follow basic human ethics such as trust, honesty, and doing everything they can to serve the clients. We first interviewed the director of recruiting of one of the biggest and reputable firms in the city of St. Louis. The director of recruiting oversees the whole hiring process of potential advisors, investment representatives and receptionists among other positions. The position requires intuition and the reading of an interviewees character before they move on within the interview process. The director of recruiting that we interviewed graduated the...
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...Success Factors of Strategic Alliances in Small and Medium-sized Enterprises—An Empirical Survey Werner H. Hoffmann and Roman Schlosser Strategic alliances are increasingly gaining favour over go-it-alone strategies for organisations to achieve fast and economical growth. This study aims to identify critical success factors in alliance-making with special consideration given to the specific situation of small and medium-sized enterprises (SMEs). A comprehensive questionnaire was used to interview a random sample of key executives in 164 Austrian SMEs. This paper reports on the results of that empirical survey, and seeks to identify the weights of various success factors in alliance-making in SMEs. The results show that “soft” facts such as trust are important for alliance success, but not on their own sufficient. Also “hard” facts such as strategic compatibility and appropriate governance mechanisms have an important influence on alliance success. Careful strategic planning and good partnership preparation are essential for alliance success, but the full value of an alliance has to be developed as it evolves. k 2001 Elsevier Science Ltd. All rights c reserved. Introduction Interfirm collaborations, such as strategic alliances and joint ventures,1 have become important business management instruments to improve the competitiveness of companies, especially in complex and turbulent environments.2 Alliances help to bridge the gap between the firm’s present resources and its expected...
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...® Academy o/ Management Executive. 2004. Vol. 18. No. 2 Business ethics and customer stakeholders O.C. Ferrell A common view of the firm holds that employees, customers, shareholders, and suppliers are key organizational stakeholders.^ While obligations to these stakeholders are sometimes considered to be motivated by organizational self-interest, the ethical perspective asserts the rightness or wrongness of specific firm actions independently of any social or stakeholder obligations.^ Customers are key stakeholders that help establish the firm's reputation and identification. For example, today Procter and Gamble is considered a textbook marketdriven global powerhouse with billion-dollar brands such as Bounty, Olay, Tide, Crest, and Folgers.^ Understanding customer needs and wants and providing customers with high-quality products are the key to the company's success. A market orientation focuses on an understanding of customers' expressed and latent needs and development of superior solutions to the needs.* Such an approach selects to elevate the interests of one stakeholder—the customer—over those of others. another in advertising campaigns, each declared that they provided the 'freshest' ingredients. The matter was taken to court and resolved through civil litigation. The importance of creating customer relationships and creating value for the customer as a part of market orientation should lead to increased performance. This article provides insights on foundations for...
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