Showing papers on "Business model published in 1970"

Emerging Value Propositions For M-Commerce

Abstract: The proliferation of mobile Internet devices is creating an unparalleled opportunity for e-commerce to leverage the benefits of mobility. Mobile e-commerce, commonly referred to as m-commerce, is the ability to purchase goods anywhere through a wireless Internet-enabled device. Current e-commerce providers, engaged through mobile devices, will find advantage in developing unique m-commerce value propositions founded upon the specific dimensions of: ubiquity, convenience, localization, and personalization. A consumer orientation that provides value-for-time functions to create a new value curve may achieve a competitive advantage over traditional e-commerce models replicated for mobile business. Therefore, this paper investigates the value propositions, that engender a productive mobile e-commerce strategy to provide recommendations for managerial decision-making in this emerging wireless environment. Introduction In the new decade, the call for information technology will be information, any time, any place and on any device. Accordingly, e-commerce is poised to witness an unprecedented explosion of mobility, creating a new domain of mobile commerce. Mobile commerce, or m-commerce, is the ability to purchase goods anywhere through a wireless Internet-enabled device. Mobile commerce refers to any transaction with monetary value that is conducted via a mobile network. It will allow users to purchase products over the Internet without the use of a PC. "Within five years, individual e-commerce services will be primarily delivered by wireless and the wireless terminal will become the window of choice to the transactional e-world," says Neil Montefiore, executive of Singapore mobile operator M1 (Hoffman, 2000, p.20). This proliferation of wireless capability has created an emerging opportunity for e-commerce businesses to expand beyond the traditional limitations of the fixed-line personal computer. The magnitude of the mobile Internet revolution will pressure current e-commerce business models, create apertures for new mobile Internet companies, engender a stream of change among established e-commerce paradigms, and lead to a reconfiguration of value propositions in many industries (Evans & Wurster, 1997). However, m-commerce is still not without its limitations. The problems it must overcome include: uniform standards, ease of operation, security for transactions, minimum screen size, display type and bandwidth, billing services, and the relatively impoverished web sites. Due to current technological limitations, limited service availability, and varying mobile consumer behavior patterns, business strategies developed for m-commerce applications will find it necessary to emphasize differing characteristics than traditional e-commerce strategies (Barnett, Hodges & Wilshire, 2000; Datamonitor, 2000). Successful m-commerce providers will understand that consumers are unwilling to spend long periods "surfing' on these inherently less user-friendly wireless devices (Albright, 2000). Wireless users demand packets of hyper-personalized information, not scaled-down versions of generic information. Therefore, technology-focused wireless Internet business models will be replaced by models which best integrate the unique characteristics of wireless m-commerce. As such, the long-term success of e-commerce may be partially dependent upon the successful development of effective consumer-oriented m-commerce business strategies. "Mobile commerce is per se not included in the traditional e-commerce market models. M-commerce will be able to increase the overall market for e-commerce, because of its unique value proposition of providing easily personalized, local goods and services anytime and anywhere" (Durlacher, 2000, p. 12). Despite tremendous interest in the melioration of m-commerce there is little, if any, research that examines how to develop a comprehensive consumer-oriented mobile e-commerce strategy. …

E-Tailing: An Analysis of Web Impacts on the Retail Market

Abstract: The Web has been changing the retail market in many ways. Following a new market framework, this paper analyzes the unique characteristics of the Web for retail applications, examines its market effects, and presents two perspectives for business response strategies. The Web can either be used as a marketing tool, which is integrated into traditional business strategies, or can be viewed as a new marketplace, which demands new business design. Differences between these two views will have strategic and implementation implications for both traditional and startup retailers as they adapt to Web marketing. Finally, we propose some research issues and challenges that should be addressed to better our understanding and promote the success of this new marketplace. ********** A Web Market Framework Electronic retailing, which involves the selling of goods and services to the consumer market via the Internet, is also called e-tailing, e-retailing and electronic commerce (EC) in the business-to-consumer (B2C) market. The emergence of this electronic retail market has been rapid. Dramatically expanding reach (people/ location) and range (variety) of information, the World Wide Web can create benefits for both marketers and consumers. For consumers, the Web can provide access to a wide range of products and services with low cost (Bakos 1997), extensive and tailored information, at-home convenience for product comparisons, enhanced interactivity (Cross & Smith 1995), and facilitate the formation of virtual communities (Internet users with common interests) (Armstrong and Hagel 1996). Marketers can benefit from lower real estate-related expenses (Schlauch & Laposa 2001), improved market research (Burke 1996; Murphy et al. 2001), new retail models, increased sales, and enhanced consumer relationships. During the past few years numerous e-tailing startups have appeared, seeking new market opportunities. However, market development has not been as successful and rapid as expected. Troubled with a lack of profitability, many e-tailers, such as valueamerica.com, pets.com, living.com and furniture.com, were forced to close their businesses. Unfortunately, these are not isolated cases, as other e-tailers may soon face this same fate. Researchers have examined various aspects of B2C interactions to help businesses realize the potential benefits of e-tailing. To understand online consumers, Wolfinbarger and Gilly (2001) examined consumer motivations for online shopping, and Bellman et al. (1999) addressed the personal characteristics that predict online buying behavior. To understand business techniques, Web-based strategies are examined (Graham 2000; Griffith & Krampf 1998); marketing techniques, such as interactive marketing and database marketing, are researched (Jackson & Wang 1995); the future of virtual shopping is analyzed (Burke 1997; Pellet 1996); new business models are reviewed (Werbach 2000; Gulati & Garino 2000); and Web-based information systems (WIS) that facilitate online businesses, are emphasized (Isakowitz 1998; Wang & Head 2001). Before utilizing the above detailed research findings for strategic advantage, businesses first need to understand the basic Web impacts on the retail market. To understand the opportunities and threats of this evolving retail marketplace, we present a new Web market framework, shown in Figure 1. This framework outlines the Web characteristics that impact the retail market, the market effects from utilizing the Web, and the business response strategies. The framework shown in Figure serves to organize the discussion of this paper. [FIGURE 1 OMITTED] Characteristics of the Web for Retail Applications Studying the characteristics of new media technology provides a structured context for understanding its social effects and a basis for media comparison (Williams et al. …

Determinants of governance structure for the electronic value chain: Resource dependency and transaction costs perspectives.

Abstract: This paper investigates boundary decisions that determine governance structures, particularly intermediaries and external contractors, for executing the primary functions of procurement, sales, and information technology support functions in the value chain model. Utilizing data from 113 firms doing business on the Internet, the findings indicate that firm resources have a significant impact on decisions to outsource or internalize electronic value chain functions. Specifically, firms with a greater reliance on sales intermediaries were found to deploy fewer technical e-commerce resources than firms less dependent on sales intermediaries. Moreover, the number of intermediary procurement functions was positively related to investment in web-based human resources. The results also suggest that firms experiencing lower levels of transaction frequency utilize more types of Internet sales methods. ********** With the advent of Internet-based electronic commerce, firms are searching for new business models to achieve organizational effectiveness. New technologies often do not lead to improved performance because managers lack a framework for deciding the optimal business model given their particular internal and external circumstances (Fisher, 1997; Janssen & Sol, 2000). Thus, research is needed that focuses on resources and capabilities and their impact on governance decisions for firms pursuing Internet-based commerce (Williamson, 1999; Barney, 1999). This study applies well-established paradigms from strategic management, marketing, and organizational economic literature to examine strategic and structural issues related to electronic commerce. Critical to the strategic objective of maximizing firm performance is the appropriate choice of corporate governance mechanisms for interorganizational relationships within the value chain. In light of new information technology, firms need to reassess boundary decisions that determine governance structures. In particular, a focus is needed on the primary functions of procurement, sales, and information technology support functions in the value chain. Although research suggests that the divergent resource requirements of this newly evolved information systems technology necessitate different governance structures, optimal boundary choices have not been empirically investigated (McWilliam & Gray, 1995; Tsang, 2000). In response to this void, this study examines how firm resources and exchange attributes impact interorganizational governance structures for specific value chain functions. First a discussion of the literature related to channel functions and governance structures is provided, followed by hypotheses regarding the effects of various exchange attributes on governance structures. Next, the methods used to test the hypotheses are presented and the results are provided. Lastly, a discussion of the theoretical and managerial implications is offered. Literature Review Channel Functions There are four basic types of companies that use the Internet in the core of their business: (1) e-commerce companies that sell goods over the Internet; (2) content aggregators who gather and display content from multiple sources; (3) market makers that act as intermediaries or conduct electronic markets; and (4) service providers who furnish Internet based services (Afuah & Tucci, 2000). This study focuses on market makers that act as intermediaries within the primary activities of procurement (supply) and sales (demand). Channel functions related to procurement include purchasing through multi-party, interactive, or dynamic pricing online markets. Selling channel services by intermediaries include selling through hubs, online auctions, use of competitive bidding, or the management of dynamic pricing systems. We also investigate information technology support services for website design and commerce support. …

Corporate Social Responsibility As Institutional Hybrids

Abstract: This paper empirically examines the impact of societal context on constructs of corporate social responsibility (CSR). The empirical analysis is informed by neo-institutional theory, which conceptualizes CSR constructs as potential or actual institutions. A case study from the Danish business setting identifies the steps that a project group of business actors took to develop a new CSR construct. The steps include the transfer and translation of a foreign institution in response to a field-level problem, major events, and partial deinstitutionalization of an established CSR construct. The findings suggest that the new CSR construct is an institutional hybrid, a combination of foreign and familiar institutions that make a new CSR construct innovative, legitimate, and continuous with existing practice in the business setting. The paper proposes that CSR constructs are malleable institutional hybrids that are most easily implemented if tailored to the social context. It concludes with implications for managers who want to select, design and implement CSR constructs in their own business settings. The Global Compact In an address to The World Economic Forum on 31 January 1999, United Nation Secretary-General Kofi Annan challenged business leaders to join an international initiative--the Global Compact--that would bring companies together with UN agencies, labour and civil society to support nine (now ten) principles in the areas of human rights, labour, the environment, and anti-corruption. The Global Compact's ten principles in the areas of human rights, labour, the environment and anti-corruption enjoy universal consensus and are derived from 'The Universal Declaration of Human Rights,' 'The International Labour Organization's Declaration on Fundamental Principles and Rights at Work,' 'The Rio Declaration on Environment and Development, and 'The United Nations Convention Against Corruption.' The Global Compact is now entering its next stage of development--from a phase of entrepreneurial growth to one of increasing organizational maturity. With a network of nearly 2,000 companies and other stakeholders, operating in more than 70 countries, the Global Compact is ready to move to a new level of performance. In December 2004, the first draft of a White Paper proposing a new business model and governance structure will be shared with governments, businesses, labour and civil society groups, and other stakeholders, for review, comment and input. In September 2005, The Global Compact Office will begin to implement the new business model and governance structure. (Extracts, www.unglobalcompact.org, November 18, 2004) This paper addresses the process through which a new CSR construct comes into existence and, in particular, the role of social context in this construction process. The Global Compact exemplifies one such construct of corporate social responsibility (CSR). A CSR construct is a form of CSR that is specific enough to be implemented in practice. The Global Compact is a unique construct in that it draws exclusively on international conventions. It defines CSR as universally as possible to make the construct relevant and appealing across the globe. The Global Compact also exemplifies a CSR construct that has been successful in its ambition of spreading rapidly across the world. Not all CSR constructs make it this far, or this fast. Some never diffuse beyond the innovative setting, others vanish like yesterday's fads and fashions. Yet others are never intended for global diffusion, targeting instead implementation at a more modest scale. There are many different CSR constructs, some of which are local or national in scope, while others are more international in orientation. A close look reveals that they draw on quite different elements and traditions in their CSR definitions. These differences can manifest themselves in divergent CSR practices across nations. …

Trends in International Business Research

Abstract: My purpose this morning is to discuss with you what appear to be some significant trends in international business research.An overview of these trends indicates that international business research is alive and well indeed. Some of the specific trends that lead to this conclusion are the following:© 1970 JIBS. Journal of International Business Studies (1970) 1, 109–123

Digital Knowledge Networks: Linking Communities of Practice with Innovation

Abstract: With embedded knowledge flows and innovation linked to communities of practice as well as technology, Australian small and medium size enterprises (SMEs) have the potential to both collaborate and compete by taking advantage of knowledge platforms founded on digital technologies and new relationships. A conceptual model is introduced that maps access to knowledge flows against limitations such as size and lack of interaction. It is suggested that fostering a culture of connectivity and trust amongst SMEs to initiate knowledge exchange may offer a potential solution to the possible loss of competitive advantage for SMEs in the digital economy. Introduction Today, with an economy enabled and driven by connectivity, a fundamental shift in business models is occurring whereby information, knowledge and relationships underpin competitive advantage. In order to compete in what some refer to as the New Economy, companies must use technology-mediated channels, create internal and external value, formulate technology convergent strategies, and organise resources around knowledge and relationships (Rayport & Jaworski 2001). The dominant strategic management literature also orbits resource-based theory, focusing on integrated architecture through improved knowledge management systems (Alavi & Leidner 2001; Kay 2000; Maholtra 2000; Chisholm 1998; Davenport & Prusak 1998; Teece 1998; Brown & Duguid 1998; Stewart 1997; Nanoka & Takeuchi 1995). The rise of information technology (IT) and electronic information networks has led firms of all sizes to implement more technology driven solutions for improved productivity and information flow. Malhotra (2000) identifies three general information management (IM) developments that have revolutionized company information processes over the last forty years. The first phase, the automation phase, increased company efficiency of operations. The second phase, the rationalization phase, streamlined those procedures by eliminating bottlenecks made apparent by the automation. The third phase, the business reengineering phase, radically redesigned information management processes through technology-intensive implementation of procedures in workflows and work processes (Malhotra 2000). Now we have reached a fourth phase, the knowledge management (KM) phase that, if possible, is even closer associated with technology than business process reengineering. Whereas technology may play an enabling part in KM activities, the notion that it is seamlessly entwined with technology or that its success depends on it is, however, misguided (Hildebrand 1999: online). Information Management vs. Knowledge Management The extant of technology gave rise to huge investments in information management systems, as they were considered a critical company resource. While many companies have implemented more technology driven solutions for improved productivity, research indicates that implementation of expensive information technology processes has not always yielded the desired results. Strassman (1997) was unable to establish a relationship between company performance and computer expenditure. Parc Xerox director John Seely Brown (Brown & Guguid 1991) observed that levels of efficiency and effectiveness of knowledge workers in US industry were little improved despite investments in technology of over $1 trillion. Initial managerial confusion between IM and KM appears to have generated much inappropriate investment in business process reengineering while over time technology solutions such as data warehousing proved too restrictive in terms of agility and flexibility (Malhotra 2000). The prevailing view that network externalities such as the Internet and new e-commerce technologies are necessary to transform business capabilities from a parochial to a global level, is leading the drive to modify initial enterprise resource networks and customer relations management systems (Goolsbee 2000; Murray & Trefts 2000; Davenport, Jarvenpaa & Beers 1996). …

Alternative Measures of Performance For E-Companies: A Comparison of Approaches

Abstract: Understanding firm performance is as important in the new economy as it was in the old one It seems difficult, however, to make a judgment about which measures of performance are good predictors of future success for e-companies This paper contrasts indicators of asset productivity, shareholder value, growth, survival, and cyberspace usage, exploring how these different indicators reflect performance for a sample of e-companies, and compares them with a sample of brick-and-mortars competing in the same industries Results suggest that multiple indicators are more necessary than ever to capture the variability of outcomes in the Internet economy Introduction One of strategic management's main challenges as a field has been the conceptualization and measurement of firm performance (Barney 1997; Venkatraman & Ramanujam 1986) Several authors have highlighted the importance of firm performance for the field of strategy (Day, Farley & Wind 1990; Prahalad & Hamel 1994; Rumelt, Schendel & Teece 1994) and have also pointed out the inadequacy of most indicators to capture its complexities (Jacobson 1987; March & Sutton 1998; Venkatraman & Grant 1986) Now, the transformation of business models accompanying the new economy seems to be making it even more challenging to find indicators that can help managers and researchers predict a firm's future success based on its current operations The e-commerce environment seems to complicate the measurement of firm performance and, at the same time, seems to offer new opportunities for developing new performance indicators On one hand, the emphasis on information-based operations and on the use and exploitation of intangible assets that characterize the new economy suggests that e-companies performance cannot be measured with traditional accounting or assets productivity indicators such as ROA and ROE Also, the condition of "newness" of these firms precludes the use of profitability ratios to assess their future potential of success On the other hand, this same emphasis on interactive information and the access it provides to direct customer data has created opportunities for the development of new performance indicators, such as accessibility, web presence, and usefulness Understanding, explaining and predicting firm performance is, nevertheless, as important in the new economy as it was in the old one Why do firms perform differently? What are valid and useful measures of firm performance? What indicators allow us to predict when an operation is on the right track, and when it is not? How can we distinguish a strong industry performer from a weak one? Questions such as these are still fundamental, especially if we want to develop theories that are useful and that offer effective recommendations for managers When discussing performance of e-commerce firms, some of the prevailing arguments do not seem to offer very useful answers to these questions We frequently find a position of skepticism about the future of Internet-based firms, more now that the optimism and enthusiasm characteristic of the e-commerce initial boom (Fox 1999) have turned into widespread pessimism (Chen & Linsday 2000; Kedrosky 2000) as many companies have been unable to survive the inevitable shakeout (Choi & Whinston 1998; LeDuff 2000; Useem 2000) If we take this position, the answer to the question will be not to bother studying and analyzing these companies since most of the "no-profit" companies are going to die anyway Another stance regarding e-companies performance is to argue that not enough time has passed yet in order to be able to understand and predict what is going on; that it is better to wait before attempting to value the performance of firms in the e-commerce world (Warren Buffett, as cited by de Figueiredo 2000) This position seems to assume that, with time, it will be possible to develop performance measures for e-companies and to value their results …

Towards a Theoretically-Grounded Framework for Evaluating Immersive Business Models and Applications: Analysis of Ventures in Second Life

Abstract: Second Life has emerged as the de facto virtual world for immersive business. However there is no de facto guideline or even corpus of knowledge about how to build an immersive business. We address this opportunity by presenting work that will lead to a theoretically-grounded evaluative framework for immersive business models and applications. We identify high profile examples from Second Life and analyze them using two theories that explain why a user may choose between ‘clicks,’ ‘bricks,’ or immersive: Rich Media Theory and Task Closure Theory. We then state propositions about characteristics of successful immersive business models and applications, and conduct an exploratory study of proposed Second Life business plans to identify and support the most appropriate propositions for future empirical enquiry. Finally, we conclude our study by positing the following characteristics of potentially successful immersive business models and applications: (a) feedback and interactions between users are not dissipated, (b) productive tasks can be started and closed within the virtual world, and (c) users are compelled to form a social presence, which is then leveraged.

A Capability-Driven Turnaround Strategy For The Current Economic Environment

Abstract: Many Businesses were prompted to reevaluate their products and services as a result of the recent economic downturn. Changes were made to their business models to realign capabilities and performance in some cases. Businesses need to provide better products and faster services while faced with more discerning customers, emerging markets, and dynamic regulatory environments. In a turnaround situation, businesses need to reinvent strategies and position themselves to meet short-term goals, while functioning in a competitive landscape for the long-term. The capability-driven model leverages core business and operating capabilities to optimize the entire value chain; innovation and Corporate Social Responsibilities are integrated carefully for long-term sustainability. The proposed framework is based on careful studies of companies that returned to profitability from a failing situation. Introduction Businesses evolve all the time. However, the recent economic downturn (Survey of Current Business, 2009, 2010; IMF Sees Major Slowdown for Global Economy, Calls for Strong and Coordinated Policies to Support a Turnaround. October, 2008) accelerated this market dynamic and many businesses found themselves floundering for survival. Changes in customer behavior (Annual Retail Trade Report, 2008, 2009, 2010) and competitive pressures, along with blind spots that companies develop over time (dwindling profitability) stagnates revenue growth and loss of market capitalization (Consumer Trend Data, 2009-1010; Annual Retail Trade Report, 2008, 2009, 2010; and All Times Bankruptcy, P1995-2010). Companies once regarded highly in terms of shareholder value and market share fail to recognize changing market conditions; these firms need a strategy for turnaround. Several studies suggest numerous factors influencing turnaround including managerial changes, improvement in financial instruments, and tactical changes such as operational efficiency and competitive improvement (Barker & Duhaime, 1997; Moulton, Thomas & Pruett, 1996). These studies examine declining firms in the context of decline sources and organizations' responses to the decline (Barker & Duhaime, 1997; Moulton, Thomas & Pruett, 1996; Castrogiovanni & Burton, 2000). It is argued that turnaround strategies are not applicable to all firms because most retrenchment activities are a consequence of decline and not a necessity to achieve turnaround (Barker & Mone, 1994). Typical retrenchment activities are cost reduction and fixed asset reduction. The influence of typical retrenchment strategies in turnaround is understood poorly. Cost cutting measures are important, but an important question still remains unanswered, how to influence a declining firm toward turnaround other than adoption of a mere balance sheet approach?" This study examines the turnaround approaches of companies that did not file bankruptcy and took measures to address declining profitability. Several companies, from various industries, fallen victim to market blindness were studied. These companies emerged stronger and with long-term viability, by implementing a holistic turnaround strategy. This study contributes to the emerging trend that suggests against the simplistic and standard approach to turnaround situations for companies in need of changing from non-profitability to profitability. This study reveals pertinent and repeating adaptable capabilities that every business in most industries can execute for long-term growth and profitability-at the heart of which is returning to core. To formulate an adaptable strategic framework for successful turnaround in the wake of recent changes in economics and customer behaviors and preferences, a study to test the following research questions was conducted: (1) Does sustainable tumaround require a holistic approach with a strong focus on core business capabilities? (2) Is an effective operational strategy, with a coordinated approach, spanning the entire value chain of a business, more critical for a successful turnaround, rather than a finance focused approach? …

Pitfalls and Paradoxes: Coping with the Capabilities-Rigidities Dilemma in Whole Networks

Abstract: Emergent interorganizational forms intent on long-term competitive performance at the network level are affecting markets and gaining scholarly attention. Whole networks are an example of such organizations. Managerial paradoxes result from these informal, non-hierarchical structures when they seek long-term competitive advantage. Applying paradox theory and research on ambidexterity, we conclude that, counter intuitively, formalized governance is necessary to sustain informal competitive entity success. Contrary to traditional network theory, social capital mechanisms and trust are not solely adequate. We examine challenges facing whole networks and propose three governance strategies to address them: (1) formalized governance with adequate authority; (2) centralized leadership with decentralized decision-making; and (3) provisions for managing membership composition. We discuss implications for practitioners and scholars and suggest research paths for validating and extending this theory. INTRODUCTION Interfirm networks are altering the competitive landscape (Parkhe, Wasserman, & Ralston, 2006). The benefits of networks for rapid technical innovation, for example, have led to widespread government involvement in creating science parks and incubators to foster economic development and growth of small, entrepreneurial firms (Phan, Siegel, & Wright, 2005). Networks can offer access to resources, capabilities, and markets not easily available to individual firms. Networks can thus achieve valuable competitive advantage for themselves and their members (Meiseberg & Ehrmann, 2012). Though interfirm organizations have been a topic of study for several decades, there is a "growing set of pioneering organizational experiments" intent on leveraging the advantages of networked business models (Miles, Miles, Snow, Blomqvist, & Rocha, 2009; p 61). Advances in information and communication technology have allowed unique organizational forms such as virtual organizations to emerge for both short-term and going-concern motivations (Pedersen & Nagengast, 2008; Riemer & Klein, 2008). Non-traditional network forms are becoming pervasive and increased competitive intensity is fueling further network form innovation (Parkhe et al., 2006). It is thus not surprising that scholars are increasingly studying emergent organizational forms such as virtual organizations the V-form--(Riemer & Klein, 2008), innovation networks - the I-form (Miles et al., 2009), and whole networks (Provan, Fish, & Sydow, 2007). The modern economy and much of the competition within it is knowledge-based. Customization, flexibility, and the rapid creation, sharing, and value conversion of knowledge are often key success factors for firm success (Contractor & Lorange, 2002; Miles et al., 2009. These competitive demands are resulting in the continued rise of networked organizations. As a secondary result, the increase in interfirm networks is leading to competition between networks and between networks and individual firms (Gimeno, 2004; Guidice, Vasudevan, & Duysters, 2003). As these emergent network forms flex their competitive muscle, many individual firms, especially small and medium sized firms (Meiseberg & Ehrmann, 2012), are likely to feel pressure to create or join rival networks in order to survive and compete with these new organizations. Thus, the emergence of such competitive networks is likely to influence the creation of more and more such organizations. Firms in affected markets that are not members of a network may find themselves with strategic disadvantages that are individually insurmountable. Thus, an increasing number of managers may find themselves forming, joining, or considering joining such networks in order to access the unique advantages (or necessary survival benefits) they may afford. Various descriptors distinguish types of networks that involve specific strategic intent. …

The Eurobond Market: Its Significance For International Financial Managements

Abstract: The availability of more alternatives in the decision making process is one of the most important distinguishing characteristics between the management function in an international business enterprise111 The terms international business enterprise, international corporation, multinational company, etc. will be used synonymously. They denote a business firm which operates simultaneously in different political, legal, social, and cultural environments. and the management of a firm which operates strictly within national confines. The choice among additional alternatives permits the firm to achieve a greater degree of maximization. It is true, the road to the realization of such alternatives is marred by obstacles and pitfalls, the study of which is a major concern of our academic specialty, International Business. However, while one recognizes the importance of analyzing these difficulties, at the same time one must not overlook the tremendous opportunities which the choice of alternatives presents for the multinational company.© 1970 JIBS. Journal of International Business Studies (1970) 1, 65–81

Simulating Multinational Business

Abstract: The basic disciplines of business schools—accounting, finance, management, marketing, and production—generally do not emphasize the environmental warp of firms operating abroad, with the consequence that students are often inadequately prepared for the subtle differences which foreign environmental features may have upon a given business decision. We believe that these special problems of multinational business can be presented to novices most effectively by simulation techniques.© 1970 JIBS. Journal of International Business Studies (1970) 1, 15–20

The present responsibility for business.

Abstract: The article argues that there is no public voice for the business profession that can defend it against social criticisms, and asks who is publicly responsible for business. The author states that few professors feel a sense of responsibility for the free enterprise system in the U.S., and compares the relative lack of innovation in the teaching of business to the advances made in education, law, medicine and mathematics. The article argues that the business system is under attack because no academics will argue on its behalf. The article uses the example of the ethical questions surrounding Dow Chemical's manufacturing of napalm for use in Vietnam, and argues that students and professionals have a responsibility to call for social and ethical standards of business.