Strategy at Tilburg University | Flashcards & Summaries

Lernmaterialien für Strategy an der Tilburg University

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3 different threats to alliance success 

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  • Adverse selection 
  • Moral hazard 
  • Holdup 

these not have to be intentional (due to complexity or changing market conditions)

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TESTE DEIN WISSEN

When is moral hazard likely to occur?

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Changes in the market conditions

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When is Holdup likely to occur?

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TESTE DEIN WISSEN

when firms make really specific investments

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Characteristics of alliances 

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  • inherently unstable 
  • over 60% failure rate 
  • pos: give flexibility & risk sharing
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Def of the winning strategy of an alliance 

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"tit-for-tat"
gains to corporate vs incentive to cheat on each other 


--> Corporate as long as my alliance partner cooperates; when my partner cheats, I also cheat 

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Three types of governance mode

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  • Non-equity alliance 
  • Equity alliance 
  • Joint venture 
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Governance Structures by Gulati and Singh (1998)

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a) on one hand alliances where you have no control or coordination, completely separate, no hierarchy 


b) on the other hand alliances that replicate a formal company

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3 standardized governance structures to counter challenges

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TESTE DEIN WISSEN
  • Explicit contracts and legal sanctions 
  • Equity investment 
  • Joint ventures
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TESTE DEIN WISSEN

What did Williamson (1985) mean by referring to behavioral uncertainty?

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Uncertainty that arises because of the possibility of "strategic, non-disclosure, disguise, or distortion of information" by the exchange partners

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How is environmental uncertainty characterized?


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....difficult to predict 

  • volatility in the product market (Wholey and Brittain 1989)
  • regulatory changes (Sutcliffe and Zaheer 1998)
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Alliance results

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TESTE DEIN WISSEN
  • failure rate is high (60%

HOWEVER

  • Pos effect of innovation 
  • companies learn to make better deals, screen for better partners, or become better in managing the alliance process
  • Both experience and capabilities affect the success rates of alliances 
  • learn from alliance partner (higher in joint ventures than in non-equity alliances)
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TESTE DEIN WISSEN

Main differences between closed and open innovation 

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TESTE DEIN WISSEN

How do you see the boundary of the firm (more open and transparent or not)

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Q:

3 different threats to alliance success 

A:
  • Adverse selection 
  • Moral hazard 
  • Holdup 

these not have to be intentional (due to complexity or changing market conditions)

Q:

When is moral hazard likely to occur?

A:

Changes in the market conditions

Q:

When is Holdup likely to occur?

A:

when firms make really specific investments

Q:

Characteristics of alliances 

A:
  • inherently unstable 
  • over 60% failure rate 
  • pos: give flexibility & risk sharing
Q:

Def of the winning strategy of an alliance 

A:

"tit-for-tat"
gains to corporate vs incentive to cheat on each other 


--> Corporate as long as my alliance partner cooperates; when my partner cheats, I also cheat 

Mehr Karteikarten anzeigen
Q:

Three types of governance mode

A:
  • Non-equity alliance 
  • Equity alliance 
  • Joint venture 
Q:

Governance Structures by Gulati and Singh (1998)

A:

a) on one hand alliances where you have no control or coordination, completely separate, no hierarchy 


b) on the other hand alliances that replicate a formal company

Q:

3 standardized governance structures to counter challenges

A:
  • Explicit contracts and legal sanctions 
  • Equity investment 
  • Joint ventures
Q:

What did Williamson (1985) mean by referring to behavioral uncertainty?

A:

Uncertainty that arises because of the possibility of "strategic, non-disclosure, disguise, or distortion of information" by the exchange partners

Q:

How is environmental uncertainty characterized?


A:

....difficult to predict 

  • volatility in the product market (Wholey and Brittain 1989)
  • regulatory changes (Sutcliffe and Zaheer 1998)
Q:

Alliance results

A:
  • failure rate is high (60%

HOWEVER

  • Pos effect of innovation 
  • companies learn to make better deals, screen for better partners, or become better in managing the alliance process
  • Both experience and capabilities affect the success rates of alliances 
  • learn from alliance partner (higher in joint ventures than in non-equity alliances)
Q:

Main differences between closed and open innovation 

A:

How do you see the boundary of the firm (more open and transparent or not)

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