Thesis (MBA)--Stellenbosch University, 2011. / ENGLISH ABSTRACT: This research report aims to contribute to the contemporary research discourse within the Strategy-as-Practice (S-as-P) field by studying day-to-day strategising practices that take place within a modern organisation. From an S-as-P point of view, strategy is described as a situated, socially accomplished activity, while strategising comprises those actions, interactions and negotiations of multiple actors and the situated practices that they draw upon in accomplishing that activity (Jarzabkowski, Balogun & Seidl, 2007: 8). Here, strategy is redefined as an action organisations perform rather than a concept organisations ‘have’. This introduces a shift in the strategy process, from a prescriptive approach to a practice approach. In this report, the researcher was able to determine how strategising took place in a Business Unit (BU) at a third-tier level within a multinational engineering organisation. This involved an analysis of how the processes of strategy sense-making and sense-giving took place amongst strategic actors. Furthermore, how this was mediated by strategising methods, strategic tools and artefacts was observed. The research recognised that strategy is socially situated and therefore a social practice. To deal with this dimension, activity theory, discussed by Jarzabkowski (2005), was used as an operational measure to identify micro-social system configurations required to implement strategy. Based on an in-depth single case study of the BU, the researcher’s findings discovered unique roles that multiple actors assume in the strategy implementation process, and how they interacted in the pursuit of goal-oriented strategic initiatives. In that process, different strategising techniques were identified, namely Procedural, Interactive, Pre-active or Integrative. It was also shown how managers used these multiple strategising methods at their disposal to facilitate and mediate strategic initiatives. In an attempt to contextualise these micro-strategising practices, the case study also demonstrated how strategy was translated from broad organisational concepts to BU operational manifestations using internal formal procedures that involved a Strategy Map and Balanced Scorecard. This revealed the cascading effect of top-down strategy translation and the gap-closing effect of down-and-up feedback loops in the system. This also exposed how strategy was ‘operationalised’ by decomposing and breaking it down into sub-strategies for implementation, which then created a hierarchy of strategies that were specific to each level of the organisation. / AFRIKAANSE OPSOMMING: Hierdie navorsingsverslag beoog om by te dra tot die kontemporêre navorsingsgesprek binne die Strategie-as-Praktyk (S-as-P) veld deur dag-tot-dag strategie praktyke wat binne ‘n modern organisasie plaasvind te bestudeer. Vanuit ‘n S-as-P oogpunt, word strategie beskryf as ‘n geposisioneerde, sosiaal-uitgevoerde aktiwiteit, terwyl strategie-beplanning bestaan uit die aksies, interaksies en onderhandelings van onderskeie betrokkenes en die geposisioneerde praktyke waaruit geput word in die uitvoering van daardie aktiwiteit. Strategie word hier herdefinieer as ‘n aksie wat organisasies uitvoer eerder as ‘n konsep wat hulle het. Dit bring ‘n verskuiwing in die strategie proses mee, van ‘n voorskriftelike benadering na ‘n praktiese benadering. Die navorser het in hierdie verslag daarin geslaag om te bepaal hoe strategiese beplanning in ‘n derde vlak Besigheidseenheid (BE) binne ‘n multinasionale ingenieursorganisasie plaasvind. Hiervoor is ‘n analise gedoen van hoe die prosesse van strategiese sin-maak en sin-gee onder strategiese betrokkenes plaasvind. Daarbenewens is waargeneem hoe mediasie deur strategie-beplanningsmetodes, strategiese gereedskap en voorwerpe plaasgevind het. Om met hierdie dimensie om te gaan, is aktiwiteitsteorie, soos bespreek deur Jarzabkowski (2005), gebruik as ‘n operasionele maatstaf om mikro-sosiale sisteem konfigurasies wat vereis word vir implementasie van die strategie te identifiseer. Die navorser se bevindings, gebaseer op ‘n enkele diepgaande gevallestudie van die BE, het unieke rolle geïdentifiseer wat verskeie rolspelers tydens die strategie implementeringsproses aanneem en ook die interaksie wat plaasgevind het in die nastreef van doelgeöriënteerde strategiese inisiatiewe. In die proses is verskillende strategie-tegnieke geïdentifiseer, naamlik Prosedure, Interaktief, Pre-aktief of Integrerend. Daar is ook getoon hoe bestuurders hierdie verskillende beskikbare strategie-metodes aangewend het om strategiese inisiatiewe te fasiliteer en bemiddel. In ‘n poging om hierdie mikro-strategiese praktyke te kontekstualiseer, het die gevallestudie ook aangedui hoe strategie vanaf breë organisatoriese konsepte deur die gebruik van interne formele prosedures, wat ‘n Strategie Kaart en Gebalanseerde Telkaart ingesluit het, omgesit is na operasionele aanwysings vir die BE. Hierdeur is die waterval effek van top- afwaartse omsetting en die gaping-vullende effek van af-en-op terugvoerlusse in die sisteem blootgelê. Dit het ook aangetoon hoe strategie ‘ge-operasionaliseer’ is deur dit te ontkoppel en af te breek tot sub-strategieë vir implementasie, waardeur ‘n hiërargie van strategieë, spesifiek vir elke vlak van die organisasie, geskep is.

published_or_final_version / Asian Studies / Doctoral / Doctor of Philosophy

The United States acute care hospital (ACH) market provides a unique environment in which to examine questions about market structure and performance. The ACHs operate in a mature market of health services that is highly regulated and has one dominant primary consumer of services. The uncharacteristic industry structure offers the opportunity to analyze pervasive agency relationships and capital structure issues in a new setting. In addition, the policies of the U.S. Government have created an environment in which tacit collusion is likely to flourish, which leads to market buyer power (monopsony, or buyers acting as one monopoly buyer). A key question is the extent to which monopsony and agency affect capital structure decisions. Agency is defined by Ross (1973, p.134) as a relationship formed between a principle and their agents, “when one, designated as the agent, acts for, on behalf of, or as representative for the other, designated the principal, in a particular domain of decision problems.” This thesis extends the agency framework provided by Jensen and Meckling (1976), along with the econometric understanding of monopsony in healthcare via tacit collusion, as suggested by Pauly (1998) and Sevilla (2005), and the research constraints of monopsony under an all-or-nothing contract, as outlined by Taylor (2003). Using data on ACHs from the period of 1995 to 2007 for approximately 5,000 ACHs, which was derived from the Medicare Cost Report and medical payments for a sub-population of 1,500, this research examines the determinants of capital structure in a distorted market. Building upon this initial analysis, the research seeks to examine the effects of market distortions upon free cash flow, and ultimately, capital structure. Two theories of distortion are presented that would affect free cash flow: The first is that of the agency cost of free cash flow and signaling, and the second is a theory of monopsony via tacit collusion between buyers. A model of the agency relationship between ACHs and the U.S. Government is proposed, promoting agency cost (signaling and the agency cost of free cash flows) as a causal relation with free cash flows and capital structure (Jensen & Meckling 1976; Jensen 1986). Empirical models of agency are constructed, examining the dependence on government business and the relation to the leverage (signaling) and free cash flows (agency cost of free cash flows) for ACHs. In addition, a complementary theory of capital structure determinant via market power (monopsony) is formulated, suggesting that monopsony conditions within the ACH market affect free cash flows and capital structure. The analysis provides a framework for understanding the environments in which ACHs operate and the strength of bargaining within the market. The research concludes with a review of the determinants of capital structure in light of the inefficiencies and distortions of the industry and the relationships observed.

The recorded music industry experienced declining revenue from 1998 to 2014, but it saw a return to growth in 2015. This thesis uses a sample of 17 countries to explore the determinants behind this revenue expansion, and to assess whether this sales growth can be sustained. I examine the impact of eight factors on the overall, physical, digital, and streaming music revenue and revenue per capita, as well as the digital and streaming revenue share. The eight independent variables include the GNI per capita, the total population, the percentage of the young people, the percentage of the young females, the gross enrollment rate in secondary education, the percentage of Internet users, the percentage of mobile cellular subscriptions, and the percentage of fixed broadband subscriptions. Based on my study, the fixed broadband subscription rate has an impact that is both statistically significant and economically important on the streaming revenue share, which makes it the most important indicator for the industry’s potential sustainable development. The percentage of the young population also shows statistical significance and economic importance for explaining the overall and physical revenue per capita, but it has no effect on the digital and streaming revenue share. Also, although the Internet penetration rate and the mobile cellular subscription rate are statistically insignificant for the digital or streaming revenue share, point estimates suggest that these factors have important economic impacts.

No description available.

New companies with business models based on technology-enabled sharing have emerged as the hot topic in technology in recent years. Uber, the sharing-economy’s poster-child, is now the world’s most valuable start-up by far. Lyft, its younger competitor, is seeing year over year growth in the hundreds of percentage points. This growth is coming at the cost of the incumbent taxi industry, and this is what this study sets out to examine. What is the effect of Uber, Lyft, and other ride-sharing services on the taxi industry? My study reveals that there has been an extremely negative effect on taxicabs, and that there are only a few last strands of hope for ways taxis can compete. Based on my study and learning, in final I forecast the ways that the firms in this space can continue to grow and dominate the ride-sharing market, and beyond.

How firms facing environmental uncertainty should organize their activities remains an important and challenging question for today's managers and organizational researchers. Proponents of contingency theory have argued that organizations must adjust their activities to fit the level of environmental uncertainty to ensure long-term survival. Although much work has been done on contingency theory, it is clear that our understanding of uncertainty is far from complete. One important aspect of today's organizations is their focus on service, mass customization, and continuous innovation. This focus often results in the customer being brought either into the organization or at least into closer contact with it. Even though the literature provides numerous evidences of the increasing customer focus, it is yet to empirically explain how the complications of customer-organizational interactions might create uncertainty for contemporary organizations. The traditional measure of uncertainty still considers customers as an environmental factor causing demand uncertainty while ignoring the complex nature of customer and organizational encounters. Seeking to further refine the concept of uncertainty and focusing on the contemporary business phenomena, this study develops measures aspects of customer induced uncertainty and examines their relationships with three organizational design variables. Specifically, this study explains the complicated nature of customer - organizational encounters that creates organizational uncertainty. Also, this study develops three operational measurement instruments for the three aspects of customer induced uncertainty. Finally, this study shows specific relationships between aspects of customer induced uncertainty and specific organizational design variables. This study conducted a mail survey of middle level managers. With a sample size of 118 the measurement instruments were shown to have validity and reliability using factor analysis and Cronbach's alpha. Regression analyses indicate the presence of specific rather than general relationship between customer induced uncertainty variables and organizational design variables. Regression results suggested that the relationships between customer induced uncertainty variable and design variables were depended on the specific combination. For example, Customer acquisitiveness was negatively related to formalization where as Customer importance was positively related to professionalism. Results also suggested a possible positive relationship between decentralization and customer induced ambiguity. Although not without limitations, this study improves our understanding of contemporary environmental uncertainty. Moreover, it provides preliminary measurement instruments of customer induced uncertainty variables for numerous future studies. Overall, this study is a preliminary step toward further understanding of the uncertainty-design contingencies of contemporary and future organizations.

Dado o crescente aumento na demanda de etanol combustível, bem como as estratégias de fusões e aquisições entre produtores e distribuidores observadas no Brasil recentemente, muito se tem discutido a respeito do poder de mercado que pode estar sendo, ou pode vir a ser exercido por esses agentes envolvidos na cadeia do produto. Discussões sobre um possível responsável por elevações do preço do produto têm levantado o interesse sobre a existência de poder de mercado por parte dos produtores de etanol, e/ou por parte das distribuidoras de combustíveis. O presente trabalho utiliza o ferramental da Nova Organização Industrial Empírica (NEIO), que estima um parâmetro de conduta de mercado através da resposta dos preços a variações na elasticidadepreço da demanda, para analisar a questão da existência e do grau de poder de mercado no elo da distribuição e da produção de etanol no estado de São Paulo. Apóia-se no trabalho de Genesove e Mullin (1998) para a aplicação empírica da NEIO, e também para verificar se a metodologia é adequada ao mercado brasileiro de etanol. Conclui-se que a metodologia NEIO mostra-se adequada aos dois elos da cadeia de etanol analisados. Além disso, produtores e distribuidores de etanol combustível não exercem efetivamente poder de mercado, no período compreendido pela análise. Os valores dos parâmetros de conduta de mercado estimados mostram que a conduta, nos referidos elos da cadeia do etanol, esteve mais próxima à concorrência perfeita que ao monopólio. Assim, não se observou o efetivo exercício de poder de mercado nos dois elos da cadeia de etanol estudados. / Given the increasing demand for ethanol fuel, as well as strategies for mergers and acquisitions among producers and distributors in Brazil recently observed, much has been discussed about the market power which is being, or may be exercised by those agents involved in the ethanol sector in the country. Discussions about a possible price increase have raised concern about the existence of market power from producers of ethanol, and/or from the distributors. This work uses the tools of the New Empirical Industrial Organization (NEIO), which estimates a parameter of market conduct through the response of prices to changes in price elasticity of demand, to examine the question of the existence and degree of market power on the link of the distribution and production of ethanol in the state of Sao Paulo. The Genesove and Mullin (1998) work is used for the NEIOs empirical application, and also to check whether the methodology is appropriate to the Brazilian ethanol market. Then, it has been concluded that NEIOs methodology proved to be suitable for the two links in the chain of ethanol analyzed. Also producers and distributors of ethanol fuel had not effectively exercised market power, in the period of analysis. The estimated values of market conducts parameter show that the conduct, in those links in the ethanols chain, was closer to that perfect competition to monopoly. Thus, it has not been observed the effective exercise of market power in the two links of the chain of ethanol studied.

Corporate diversification is a core topic in Financial Economics. The desire to better understand why a firm elects to diversify as opposed to increase in scale is the motivation of this dissertation. To accomplish this goal I test a number of dynamic models of corporate diversification, with similar predictions, to better understand the dynamic choice to diversify. I find that several previously untested models do indeed provide insight as to why a firm would diversify (Essay One). In particular two firm traits, firm talent which I use the proxy of organization capital and asset specificity which I use the proxy of asset tangibility, are strongly related to propensity of the firm to engage in corporate diversification for the first time. / Includes bibliography. / Dissertation (Ph.D.)--Florida Atlantic University, 2015 / FAU Electronic Theses and Dissertations Collection

Este estudo analisa o processo de internacionalização de empresas nacionais dedicadas à produção de bens de maior densidade tecnológica que apresentam diferentes motivações para a internacionalização além das vantagens comerciais. No Brasil, desde a década de 70, as empresas passaram a desenvolver a dimensão comercial da internacionalização, através do aumento das exportações. A realização de investimentos diretos no exterior foi intensificada na década de 90, a partir da internacionalização da produção que teve como destino principal os países da América Latina. Em um cenário econômico marcado pela intensificação da concorrência, as empresas passaram a considerar a internacionalização como uma estratégia para a ampliação de suas vantagens competitivas e expansão de suas atividades. A pesquisa envolveu o estudo de três casos de empresas brasileiras que foram fundadas entre os anos de 80 e 90 e que se internacionalizaram precocemente, ou seja, em um período curto após a fundação e início das atividades. Elas reconhecem a tecnologia como elemento central para o crescimento e expansão de suas atividades e investem continuamente em atividades de pesquisa e desenvolvimento. Isso contribui para o registro de patentes e desenvolvimento de produtos mundiais, que podem ser adaptados de acordo com as necessidades de seus clientes nacionais e internacionais. Essas empresas reconhecem na internacionalização das atividades não apenas a importância comercial, mas também um fator essencial para o desenvolvimento contínuo de suas capacidades de criação e aplicação de novas tecnologias. As subsidiárias no exterior também contribuem para o acompanhamento de tendências nos setores em que atuam, no estabelecimento de parcerias em pesquisas e na seleção de fornecedores. Conclui-se que a internacionalização precoce das empresas estudadas é resultante dos investimentos em tecnologia desde o início de suas atividades. / The present study analyses the internationalization process of national companies dedicated to the production of higher technological density goods that present different motivations to the internationalization besides commercial advantages. In Brazil, since the seventies, the companies began to develop the commercial dimension of internationalization, through the export increase. The accomplishment of direct investment abroad was intensified in the nineties, arising from the production internationalization, which had as main target the Latin American countries. In economic scenery marked by the intensification of competition, the companies started to consider the internationalization as a strategy to the broadening of their competitive advantages and their activity expansion. The research involved the study of three Brazilian companies which were founded between the eighties and the nineties and which became internationalized precociously, that is, shortly after their foundation and the beginning of their activities. They recognize technology as the main element for the growth and expansion of their activities and invest continuously in development and research activities. This fact has contributed to the application for patents and global product development, which can be adapted according to the necessities of their national and international clients. These companies recognize in the internationalization of their activities, not only the commercial importance, but also an essential factor for the continuous development of their production capacity and the application of new technologies. The subsidiaries abroad also contribute to the accompaniment of tendencies in areas, which they operate in, to the establishment of partnerships in researches and to the selection of suppliers. It has been concluded that the precocious internationalization of the studied (analyzed) companies has been the result from investments in technology since the beginning of their activities.