Grenoble School of Management

About: Grenoble School of Management is a education organization based out in Grenoble, France. It is known for research contribution in the topics: Context (language use) & Business model. The organization has 359 authors who have published 1167 publications receiving 23515 citations. The organization is also known as: Grenoble École de management.

Too many products? Reaching the next billion customers of the beauty market

Abstract: Purpose – The purpose of this article is to describe the rationale behind and analyze the results of a strategy in regards to changing conditions and market share dominance. For more than 20 years, with the growth in available product varieties, product and brand proliferation have become increasingly evident in many consumer markets. Design/methodology/approach – This article examines how three L’Oreal mass market businesses, i.e. L’Oreal Paris, Lascad and Gemey-Maybelline-Garnier (GMG), managed proliferation activities between 1988 and 2012 on their domestic market. Data were extracted from the information resources, inc. (IRI) Census and Sample Databases (retail panel data), and information was collected from internal sources and semi-structured interviews with top executives. Brand performance was assessed using panel data structure analysis, as recommended by IRI and Nielsen. Some data, as they remain confidential, were not included in the paper. Findings – The study reveals that when opportunities a...

Cultural Intelligence: A Dynamic and Interactional Framework

Abstract: Cultural Intelligence (CQ) scholars’ continuing reliance on static geo-ethnic (mostly national) conceptualizations of culture raises three dilemmas: (1) the practical challenge of managers having t...

Modèle d’activité dans l’instrumentation en biotechnologies. Construire l’offre ou répondre à la demande ?

Abstract: Les acteurs, publics comme prives, concoivent des strategies de cooperation pour developper de nouvelles competences et avoir acces aux equipements necessaires a une production scientifique de qualite. On assiste alors a un enchainement de decisions strategiques prises par des acteurs heterogenes pour investir dans les plates-formes technologiques et organiser les cooperations. A partir d’une analyse comparative des modes de fonctionnement de six plates-formes en sciences de la vie, la formation des modeles d’activite est etudiee. La comparaison des differentes logiques de construction de l’offre de services par les plates-formes permet de preciser les conditions de validite et de survie des plates-formes. Sont ensuite discutees les frontieres entre un modele de gestion publique des plates-formes, fonde sur une politique volontariste d’offre d’equipements scientifiques aux chercheurs, et un modele economique prive de gestion des plates-formes. Ce texte montre que c’est la difficulte a definir une demande et a jouer un role moteur vis-a-vis des offreurs qui conduit les promoteurs de ces plates-formes a proposer une offre qui peine souvent a trouver son public.

Simplified hedge for path-dependent derivatives

Abstract: Path-dependent derivatives are typically difficult to hedge. Traditional dynamic delta hedging does not perform well because of the difficulty to evaluate the Greeks and the high cost of constantly rebalancing. We propose to price and hedge path-dependent derivatives by constructing simplified alternatives that preserve certain distributional properties of their terminal payoffs, and that can be hedged by semi-static replication. The method is illustrated by a geometric Asian option and by a lookback option in the Black–Scholes setting, for which explicit forms of the simplified alternatives exist. Extensions to a Levy market and to a Heston stochastic volatility model are discussed as well.

Semi-analytical prices for lookback and barrier options under the Heston model

Abstract: Under the Heston stochastic volatility model, we derive semi-analytical formulas for the prices of path-dependent options with payoffs linked to the maximum or minimum value of the underlying asset price over a certain period of time. In particular, we obtain prices of lookback and barrier options in the Heston model, but the methodology applies more generally. By conditioning with respect to the variance path, we obtain pricing formulas that can be related to their counterparts in the Black–Scholes model.