Macroeconomics – Institutional Part – Summary
Contents
Macroeconomics – Institutional Part – Summary 1
Week 6: The Institution based view as a third leg as a strategy tripod 2
Week 6: Institutions 4
Week 7: Globalization or Europeanization? Evidence on the European Economy since 1980. 6
Week 7: IMF and the WORLD BANK – how do they differ 8
Institutions of the World – supplementary note to week 7 – by Taco Bell. 10
Week 8: Strategies that fit Emerging Markets 12
Week 8: Don’t Integrate Your Acquisitions, Partner With Them. 14
Week 9: Distance Still Matters: The Hard Reality of Global Expansion 15
Week 9: Clusters and the New Economics of Competition 17
Week 10: Competitive Advantage on a warming planet 20
Week 10: Structural causes of the global financial crisis 21
Abbreviations:
Govt's = governments
MNCs = multinational corporations
LEDCs = less economically developed countries
CSF = critical success factors
Org. = organization
Week 6: The Institution based view as a third leg as a strategy tripod
Peng, Sun, Pinkha, Chen – Academy of Management
Institution based view (InsBV) emerges as a third leading perspective in strategic management
-Emerged after industry based (IndBV) (Porter 1980) and resource based views (RBV) (Barney 1991), which did not pay enough attention to contexts – resulting in frustration
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Two forces underpin the rise of institution based view in strategy:
1. External (through social sciences – institutions “the rules of the game” – formal/ informal)
2. Internal (long standing criticism of industry and resource based views lack of attention to context)
-> Institutions are not only ‘background’ conditions. They are invisible when market works smoothly, but should studied and understood, especially with regard to emerging economies
-> Institutions are independent variables. Good strategic choices come from dynamic interaction between institutions and organizations.
Two core...