Extending the view: Advances in the Economics of Value-Based Strategy Flashcards
The Firm, Value Creation and Capture
Do you have:
• Right Product?
Search or Experience
Switching Costs
- Right Structure (Costs)?
- Right Resources?
- Right Capabilities?
- Right Market?
- Right Strategy?
• Outlook on Relationships?
Self and Others
How do we understand the firm
Configuring Resources:
• Internal (Own)
• Tangible and Intangible assets
Aligning Capabilities - powers of orchestration
Ordinary capabilities:
• Production-focused
• Task-specific
Dynamic capabilities:
• Strategy-focused
• Sustained, sustainable advantage in markets
Who Creates Value for Whom?
Value Creation (and Destruction): • Subject or Focal Firm • Suppliers (‘Components’) • Complementers • Consumers • Other Stakeholders: • Government • Stakeholder Communities...broad/vast • Society/Global • Mono-Firm, Dyadic or beyond?
The Value of Creating Value
Logics:
Internal, linear, where profit=driver • Ego-centric (firm): • Resource-based • Capabilities-based • i.e. ‘my’ resources/capabilities/chain/profits/ advantage
The Value of Creating Value
Methodological issues?
Conceptual clarity? (Border disputes)
Empirical challenges - how to measure?
An Uneasy Transition?
Traditional models (linear, hierarchical):
• Supply/Vertical Chains
• Value Chains? (Brandenburger and Stuart 1996)
Networked forms:
• Collaborative
• Value Nets
Ecosystems (Moore 2006):
• Innovation Ecosystems (Adner and Kapoor 2010)