<p>Businesses carrying out related diversification moves with the objective to gain synergy effects have been a frequently occurring phenomenon since the midst of the past century. Plenty of models have been constructed, mainly using external data, in order to predict the outcome of these moves, but a high degree of contradictory results in empiric testing shows that current models are insufficient. Our objective is to present a model which also takes into account the internal data presented by the line of research called horizontal strategies, with the aim of moving towards a more accurate explanatory model for related diversification. This is a study of literature which resulted in a model which may be used for approximations as a strategic planning device. Our main conclusions are that further empirical testing, mainly regarding the behaviour of costs for implementing interrelationships, is necessary in order to create an accurate, explanatory model for predicting the outcome of related diversification.</p>

Businesses carrying out related diversification moves with the objective to gain synergy effects have been a frequently occurring phenomenon since the midst of the past century. Plenty of models have been constructed, mainly using external data, in order to predict the outcome of these moves, but a high degree of contradictory results in empiric testing shows that current models are insufficient. Our objective is to present a model which also takes into account the internal data presented by the line of research called horizontal strategies, with the aim of moving towards a more accurate explanatory model for related diversification. This is a study of literature which resulted in a model which may be used for approximations as a strategic planning device. Our main conclusions are that further empirical testing, mainly regarding the behaviour of costs for implementing interrelationships, is necessary in order to create an accurate, explanatory model for predicting the outcome of related diversification.

President Chain Store Corp. (PCSC), the leading chain store company in Taiwan, utilizing the successful experience to develop their logistic business, thus has been built up the strong subsidiary logistic group of Uni-President nowadays. PCSC structure the integrated production line, which enables each of the business unit to focus on the competitive advantage and utilize the inter-group resources successfully. This integrated structure also enhances the core ability of every business unit which lifts the group from retail industry to the brand with high value-adding brand marketing all over the world. The purpose of this research, using the methodology of Smiling Curve, is to find out the connection between the acquisition of crucial re source and the build-up of crucial process, as well as the impact of benefit and efficiency brought to the group. This research try to use the concept of ¡§ the acquisition of crucial resource¡¨, ¡§ the efficiency of resource utilization¡¨ and the ¡§the build-up of crucial process¡¨ to probe the connection among the best timing for entering new market, the process of acquiring the resource and the timing of acquisition. Furthermore, this research would like to probe how to acquire the crucial resource and build up crucial process, given that under the circumstance of the positive startup of both resource and market. The major findings from this research with the methodology of Smiling Curve for the explanation of integrated strategy and effectiveness come to three points: the 1st is the vertical integration shortens the sales channels, the shorter of the channel, the higher of the value-adding will be; the 2nd is the horizontal integration enables each division to concentrate on the core business to accelerate the leading advantage; the 3rd is the well implementation of related diversification strategies to adopt the overseas brands know-how and corporate-owned trained specificity of human capital to achieve the target of lifting the operation efficiency. This synergy justify the result of aiming at higher value-adding activities, such customers-oriented marketing and service, the value chain relocation, move PCSC to the Y-axis as increasing value-added brand.

Bakgrund och forskningsfråga: Målstyrning är ett viktigt hjälpmedel för företag i deras strävan efter att följa sina strategier. Målstyrning kan ske genom användning av formella eller informella styrmedel, och ska anpassas efter varje enskilt företag. Traditionella affärsverksamheter har ofta som fokus att generera vinst och använder sig främst av formella styrmedel. Kreativa näringar har istället sitt fokus på kreativiteten, och använder sig främst av informella styrmedel. Kreativa företag har inte samma möjlighet att konkurrera på marknaden som traditionella affärsverksamheter, men den ekonomiska aspekten är fortfarande viktig då det är ett krav för deras fortlevnad. Flertalet kreativa näringar väljer att diversifiera sin verksamhet inom relaterade områden för att skapa en mer stabil ekonomi. Detta medför dock en utmaning i att behålla kreativiteten inom ett område, trots en diversifierad verksamhetsstruktur. Studiens övergripande forskningsfråga är: Hur håller kreativa företag, inom konstsektorn, med relaterat diversifierad verksamhetsstruktur samman hela organisationen genom målstyrning? Syfte: Syftet med denna studie är att beskriva hur kreativa företag med flertalet olika verksamhetsgrenar utformat sin målstyrning med hjälp av olika formella och informella styrmedel. Ytterligare ett syfte är att analysera vilka fördelar och nackdelar de olika styrmedlen skapar för företagen gällande deras målstyrning. Metod: Denna studie utgör en fallstudie av två kreativa näringar. Undersökningen utgår från en abduktiv forskningsansats med en kvalitativ forskningsstrategi. Den teoretiska referensramen är främst baserad på insamlat material från litteratur och vetenskapliga artiklar. Det empiriska materialet utgörs främst av ingående personliga intervjuer, samt viss information från hemsidor tillhörande de organisationer som deltar i denna studie. Slutsats: Kreativa näringar med relaterat diversifierad verksamhetsstruktur använder formella styrmedel för att styra de ekonomiska aspekterna och informella styrmedel för att styra kreativiteten och de anställdas beteenden. Denna målstyrning gör att de kan uppfylla både deras ekonomiska och konstnärliga mål och hålla samman sin relaterat diversifierade verksamhetstruktur. / Background and research question: Performance management is an important tool for businesses in their efforts to pursue their strategies. Performance management can be achieved through the use of formal or informal control instruments, and should be tailored to each individual company. Traditional businesses often have the focus to generate profit and primarily use formal control instruments. Creative industries have instead its focus on creativity, and primarily use informal control instruments. Creative companies do not have the same opportunity to compete in the market as traditional businesses, but the financial aspect is still important as it is a requirement for their survival. Most creative industries choose to diversify their business in related areas to create a more stable economy. However, this means a challenge to retain the creativity in one area, despite a diversified business structure. The study's overall research question is: How do creative businesses, in the arts sector, with a related diversified business structure hold together the entire organization through performance management? Objective: The purpose of this study is to describe how creative companies with several different branches of business activity have designed its performance management using different formal and informal control instruments. Another purpose is to analyze the advantages and disadvantages that the different control instruments create for companies concerning their performance management. Method: This study is a case study of two creative industries. The survey is based on an abductive research approach with a qualitative research strategy. The theoretical framework is mainly based on material collected from literature and scientific articles. The empirical material consists mainly of detailed personal interviews, as well as certain information from websites belonging to organizations involved in this study. Conclusion: Creative industries with a related diversified business structure are using formal control instruments to steer the financial aspects and informal control instruments to steer creativity and employee behavior. This performance management enables them to meet both their financial and artistic goals and hold together its related diversified business structure.

政府將金融中心列為亞太營運六大中心之一，由此可知，金融服務業在未來台灣經濟發展的重要性將逐漸增加，而且不論國內外，金融服務業皆有集團化的趨勢，因此，本研究希望能夠透過實務上的觀察，詳實記錄下金融服務業相關多角化的成長過程，藉以瞭解資源累積的循環過程及多角化成長歷程會遭遇的困難，希望能對集團的成長過程能有較細緻的解釋，並對金融服務業的未來成長提供一個參考。 　　本研究從哈佛大學企業史教授Chandler所著的“Scale and Scope”中的觀念出發，透過文獻的探討，加入交易成本及資源基礎的觀點，以核心資源為中心概念，觀察企業的成長歷程中核心資源的累積及移轉的狀況。 　　本研究的主要發現如下： 　　一、金融服務業可以人才招募及訓練、日常營運累積、高階人際網路及合作關係等方式累積資源，以達規模經濟。 　　二、根據核心資源的相似性，可將金融服務業區分為保險事業群、證券事業群及商業銀行等三群。 　　三、金融服務業間可移轉的資源具有兩種特質：高外溢效果及高交易成本。 　　四、資源外溢效果及交易成本的高低決定潛在範疇經濟利益大小，而組織協調能力及專業能力的高低，則決定企業所能實現潛在經濟利益的大小。 　　五、金融集團可以透過組織及管理設計，克服相關多角化的困難，實現範疇經濟。 　　觀察結果顯示核心資源的特性、組織協調能力及專業能力都會影響企業相關多角化所能實現範疇經濟的程度，值得有心進行相關多角化的企業作為參考。

Fragmentation in healthcare has led to a desire to align and integrate care processes horizontally. The concept of value-based healthcare has been introduced, suggesting a maximized value creation to occur when optimal conditions are created for selected patient segments, integrating all activities that jointly determine the success in meeting a set of patient needs. While targeting specialized segments has been shown to be beneficial, theories of diversification suggests that an increased scope may be an even more efficient approach to improve performance. By sharing resources and capabilities across several specialized units, coordination and knowledge sharing of a hospital’s ancillary services becomes important.   In this study, we examine how an ancillary service function, providing resources and capabilities that are shared across specialized units, can be organized to ensure contribution to the overarching goal of maximizing value for patients. This is done through a qualitative case study of the Karolinska University Laboratory – an ancillary service function of the Karolinska University Hospital. It is concluded that an ancillary service function can, in a diversified context, facilitate and support the value creation around medical conditions by developing a comprehensive structure for knowledge management and sharing, both externally towards medical conditions and internally within the ancillary service function. If structured properly, clear benefits, such as economies of scale, scope and knowledge spillovers, can be achieved by separating sharable resources from the patient flows.

Submitted by Silvana Teresinha Dornelles Studzinski (sstudzinski) on 2016-08-25T13:11:13Z No. of bitstreams: 1 Luiz Felipe Jostmeier Vallandro_.pdf: 1279034 bytes, checksum: 2e83e11ab40a6df49542fe7525f4485f (MD5) / Made available in DSpace on 2016-08-25T13:11:13Z (GMT). No. of bitstreams: 1 Luiz Felipe Jostmeier Vallandro_.pdf: 1279034 bytes, checksum: 2e83e11ab40a6df49542fe7525f4485f (MD5) Previous issue date: 2016-06-14 / CAPES - Coordenação de Aperfeiçoamento de Pessoal de Nível Superior / Este estudo investigou os fatores determinantes da direção da estratégia de diversificação de grupos empresariais no Brasil. Utilizando a teoria dos custos de transação (WILLIAMSON, 1975; 1979; 1985) e a teoria da agência (JENSEN e MECKLING, 1976) como pilares teóricos, o estudo se propôs a analisar a influência de um conjunto de fatores sobre a escolha da direção da estratégia de diversificação de grupos empresariais brasileiros, que ocorre no sentido de negócios relacionados ou não relacionados (diversificação relacionada X diversificação não-relacionada) à atividade principal do grupo. A estratégia empírica considerou uma amostra de 51 grupos empresariais identificados entre os 200 maiores grupos do Brasil entre 2009 e 2014, de acordo com a publicação do anuário Valor Grandes Grupos. A direção da diversificação tomou a forma de uma variável binária, com valor igual a 1 para a diversificação não-relacionada e zero para a diversificação relacionada. As variáveis utilizadas como os determinantes da direção da diversificação foram: lucratividade, endividamento, capex, risco, ativos físicos, ativos intangíveis, estrutura de propriedade considerando apenas um acionista controlador com ao menos 50% +1 das ações com direito a voto (Definido1), estrutura de propriedade formada por um grupo de acionistas compartilhando o controle (Definido2) e controle familiar. Duas variáveis de controle foram adicionadas: tamanho e oportunidades de crescimento. Os testes empíricos foram executados utilizando regressões probit painel para dados empilhados. As evidências sugerem que existe um conjunto de fatores que influencia a direção da estratégia de diversificação perseguida por grupos empresariais brasileiros. A principal conclusão é que fatores como endividamento, risco, capex e controle acionário exercido por um grupo de acionistas compartilhando o controle do grupo empresarial influenciam positivamente a probabilidade da escolha da diversificação não-relacionada. Por outro lado, fatores como ativos intangíveis e estrutura de propriedade considerando apenas um acionista controlador com ao menos 50% +1 das ações com direito a voto do grupo influenciam negativamente a probabilidade da escolha da diversificação não-relacionada. / This study investigated the determinants of the direction of diversification strategy of business groups in Brazil. Using both transaction costs theory (WILLIAMSON, 1975; 1979; 1985) and agency theory (JENSEN & MECKLING, 1976) as theoretical pillars, this study aimed to analyze the influence of a set of factors on the choice of the direction of diversification strategy of Brazilian business groups, that occurs towards related or unrelated businesses (related vs. unrelated diversification, respectively) to the main activity of the group. The empirical strategy considered a sample of 51 business groups identified among the 200 largest business groups in Brazil between 2009 and 2014, according to the publication of the yearbook Valor Grandes Grupos. The direction of diversification took the form of a binary variable, with the value of one for unrelated diversification, and zero for related diversification. The variables used as the determinants of the direction of diversification were: profitability, debt, capex, risk, physical assets, intangible assets, ownership structure considering only one shareholder holding at least 50% +1 of the shares with voting rights (Definido1), ownership structure formed by a group of shareholders sharing the control (Definido2), and family control. Two control variables were set: size and growth opportunities. Pooled probit panel regressions were used to run the empirical tests. The evidence suggest that a set of factors influences the direction of diversification strategy pursued by Brazilian business groups. The main conclusion is that factors like debt, risk, capex, and ownership structure formed by a group of shareholders sharing the control of the business group influence positively the probability of the choice of unrelated diversification. On the other hand, factors like intangible assets and ownership structure considering only one shareholder holding at least 50% +1 of the shares with voting rights influence negatively the probability of the choice of unrelated diversification.