Showing papers on "Business model published in 1983"

Analyzing Foreign Financial Statements: The Use and Misuse of International Ratio Analysis

Abstract: Financial ratios, which may be appropriate measures of financial risk and return, are often misused when applied to foreign companies. This is due partly to explainable differences in international accounting principles. A more serious problem, however, is that even when ratios are based on U.S. GAAP, they are misinterpreted because the U.S. investor does not understand a particular foreign environment that influences all financial ratios in that environment. Using Japan and Korea as country examples, this paper analyzes the problem of misuse of international ratio analysis with the hope that investors, security analysts, regulatory authorities, and international business researchers will become more aware of the pitfalls.

Multiple Point Competition.

Abstract: Situations where firms compete against each other simultaneously in several markets abound in real life. However, there is very little conceptual or theoretical literature on multiple point competi...

International business and global technology

Abstract: The article presents a review of the book “International Business and Global Technology,” by J. Davidson Frame.

A Model for Development of a Data Collection Instrument.

Abstract: An in-depth research questionnaire on the external business environment and strategic decision making was developed for an international cross-cultural study. This paper describes the detailed proc...

Competitive environment, business strategy, and organization structure : an analysis of firm performance

Abstract: CHAPTER TWO. REVIEW OF LITERATURE .................. 18 I. Industry Structure-Strategy-Performance. . . 18 II. Environment-Organization StructurePerformance..................................... 32 III. Strategy-Structure-Performance .............. 39 CHAPTER THREE. METHODOLOGY............................ 46 I. The S a m p l e ...................................... 46 II. Data Collection................................. 48 III. Variables........................................ 51 A. Industry Market Structure. . ......... 51 B. Industry Profitability ................... 54 C. Perceived Competitive Environment. . . . 54 D. Strategy and Strategic Complexity. . . . 55 E. Organization Structure ................... 57 F. Firm Profitability....................... 59 IV. Data Analysis................................... 60 CHAPTER FOUR. ANALYSIS OF THE DATA AND DISCUSSION OF THE RESULTS.......................... 66 PART ONE: DATA PREPARATION ....................... 66 I. Factor Analysis of the Decentralization Scale............................................ 66

A concept of strategy for small business

Abstract: This paper presents a concept of business strategy that is tailored to the characteristics of the small enterprise. Strategy is viewed as a combination of four components: concept of business, niche, capability, and maneuver. The proposed framework integrates the functional areas in the enterprise and refocuses them on survival and growth in a volatile, competitive environment. It also emphasizes the role of deliberate, calculative choice in small business strategy formulation. The reader of literature on business strategy and small business management might conclude that the concept of strategy is applicable mainly to the large finn. While business strategy literature advocates concepts (e.g., growth share matrix, experience Four curves attractiveness analysis, and the like) that are not readily ~pplicable in the context of the small f1rm, small business literature tends to concentrate on the functional areas of the small enterprise (e.g., marketing finance, operations, and human resources). It should b~ emphasized, however, that the functiOnal areas arc (or should be) underlain by a more abstract framework which serves as the organizing and integrating theme for functional strategies. This framewo~k is the finn's master strategy a topic that needs more exploration. This paper attempts to develop a concept of strategy that can serve as an organizing theme for the functional areas of the small enterprise. The concept is described from the viewpoint of the micro business, mainly the "one man" (or few) operation as characterized by Kao (1981). The framework presented here is intended for teachers of and students in small business courses. Owners, managers, and consultants should find the ideas presented here helpful in formulating business plans. A CONCEPT OF STRATEGY There are many definitions of and elaborations on the concept of strategy (Hofer and Schendel, 1978). Simple definitions of strategy are to be avoided, for a strategy is too complex to be captured accurately in one sentence. From numerous observations of small business strategic behaviour, it is postulated that a small business strategy evolves around the notion of creating a profitable position in a specific productjmarket segment that is defensible against competitors_ The term "competitors" here refers mainly to other small as well as big businesses that have a position in the same productjmarket segment. In addition, competitors may include suppliers and buyers to the extent that their actions might affect the small firm's position. Potential entrants should be included too. In the course of creating and maintaining a defensible, profitable position, the small business implicitly or explicitly interacts with its competitors_ Strategy then emerges as the game plan that underlies the interaction with competitors. As such, it is a scheme or a system of moves for "outmaneuvering" competitors in order to minimize the negative impact of their actions on the small firm's position. An analysis of many small businesses' game plans suggested four areas in which they can outmaneuver their competitors. The first area is the creation of concepts of the business that are different from those of the competitors. For example, Emergency Parts Service Ltd. (not the real name) is a small firm in the spare parts business that specializes in locating and shipping urgently needed spare parts in 24 hours. Very few of the large manufacturers or distributors of spare parts can fill orders on such a short notice, but this small firm can. The second area in which a small business can outmaneuver larger businesses is in the choice of a niche or a specific market segment. Emergency Parts Service (E.P .S.) chose, as its niche, manufacturing concerns that need parts in a hurry at any cost. This is a small segment but, nevertheless, it can generate considerable revenue since price is no barrier due to the urgency involved. The third area of outmaneuvering lies in the creation of a unique capability that can deliver the firm's differentiated concept to the desired market segment at a price. E.P.S. Ltd., has contacts with parts suppliers around the world, stocks emergency items, and has air freight arrangements that allow it to deliver the needed items in 24 hours. The fourth area, in addition to concept of business, niche, and capability, may be labelled "maneuver". The term maneuver refers to the anticipation of competitors' major moves and unfolding and deploying the firm's capability at the point where competitors are weakest. E.P.S. Ltd., for example, exploits the slowness of large parts manufacturers and distributors in filling single item orders on a very short notice, since such orders are unprofitable to process. The four aspects or elements of observed game plans can then be organized as shown in Figure I. It is clear that the four elements are interrelated. Each affects and is affected by the others. The composition of each changes over time since they are responses to a volatile environment in which competitors are not the only actors. The environment involves a multitude of forces including the economy, government, society, and perhaps the world since even the smallest of enterprises is part of the "global village".

Vertical Integration from the Perspectives of Industrial Organization Economics and Organization Theory.

Abstract: Industrial organization economics and organization theory are both concerned with the way organizations solve various problems associated with interorganizational exchange. This paper synthesizes t...

Adequacy of Hong Kong-California Business Communication Methods.

Abstract: Companies communicating between Hong Kong and California employ seven basic methods: telex, letter, telephone, visit, courier, computer, and telegram. Interviews with 21 managers in Hong Kong and 22 in California reveal the main advantages and disadvantages of these methods and recom mend a number of safeguards against their misuse.

Building productivity into business school programs

Abstract: An important conference has proposed many ways for schools of business to contribute to productivity improvement.

Quality of Work Life and the Small Business.

Abstract: This paper reports on a successful four year Quality of Work Life programs undertaken at a small suburban community service organization. The process use was survey feedback, and Likert's three var...

Policy for the Small Business

Abstract: Why do small businesses need to formulate policy and plan for the future? After all, it takes valuable time: time that could be spent selling, or sorting out a production problem, or sending in the VAT return. Anyway the whole business is probably run by only one person. The decisions he has to make are fairly straightforward and major implications can be carried in his head rather than written down. So why waste time and money in moving into this far too sophisticated area of management?

Business Ethics-Intuition or Logic?

Abstract: Business has come under increasing pressure to set standards for ethical behavior. As a result many companies have set up rules for what is ethi cal or unethical. This article points out that the ethical crisis we face can only be solved by studying ethics from an historical and cultural perspec tive. With a firm philosophical basis in ethics, businessmen will be able to communicate their position on controversial issues more effectively.