Extending the view: Advances in the Economics of Value-Based Strategy Flashcards

1
Q

The Firm, Value Creation and Capture

A

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

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2
Q

How do we understand the firm

A

Configuring Resources:
• Internal (Own)
• Tangible and Intangible assets

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3
Q

Aligning Capabilities - powers of orchestration

A

Ordinary capabilities:
• Production-focused
• Task-specific

Dynamic capabilities:
• Strategy-focused
• Sustained, sustainable advantage in markets

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4
Q

Who Creates Value for Whom?

A
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?
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5
Q

The Value of Creating Value

Logics:

A
Internal, linear, where profit=driver 
	• Ego-centric (firm): 
		• Resource-based 
		• Capabilities-based 
• i.e. ‘my’ resources/capabilities/chain/profits/ advantage
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6
Q

The Value of Creating Value

Methodological issues?

A

Conceptual clarity? (Border disputes)

Empirical challenges - how to measure?

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7
Q

An Uneasy Transition?

A

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)

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