By Matthias Knecht
The determination to diversify lies on the center of company procedure and is without doubt one of the most crucial judgements for high administration. Matthias Knecht introduces a brand new viewpoint on company diversification that extends the tutorial dialogue and divulges significant new insights as regards to some of the most urgent questions in strategic administration: what makes a diversification approach winning? the writer introduces the dynamism of industries because the dominant strength within the firm’s setting that affects the association on all degrees. as a result of strategic, organizational, and managerial similarities of companies competing in comparable dynamic environments, synergistic advantages and enhanced monetary functionality could be learned throughout the mixture of dynamic-related companies within the company portfolio. This learn offers a quantitative, multidimensional operationalization of dynamism and an in-depth review of the dynamism of a variety of industries. on the center of the examine lies the research of the functionality impression of dynamic-related diversification options. the implications offer new insights into winning portfolio development suggestions within the face of today’s dynamic environments.
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Additional info for Diversification, Industry Dynamism, and Economic Performance: The Impact of Dynamic-related Diversification on the Multi-business Firm
183 The research mentioned here represents a small selection from the abundance of studies in the field. The following studies a broader understanding of the concept of dynamic capabilities: Aragón-Correa and Sharma (2003), Blyler and Coff (2003), Danneels (2008), Danneels (2008), Døving and Gooderham (2008), Helfat et al. (2007), Teece (2007), Winter (2003), Wang and Ahmed (2007). 184 See Eisenhardt and Martin (2000), p. 1105. 185 See Eisenhardt and Martin (2000), p. 1106. 186 See Eisenhardt and Martin (2000), p.
Zahra, Sapienza and Davidsson (2006) The abilities to reconfigure a firm’s resources and routines in the manner envisioned and deemed appropriate by its principal decision maker(s). Helfat et al. (2007) The capacity of an organization to purposefully create, extend, or modify its resource base. Teece (2007) Dynamic capabilities can be disaggregated into the capacity (a) to sense and shape opportunities and threats, (b) to seize opportunities, and (c) to maintain competitiveness through enhancing, combining, protecting, and, when necessary, reconfiguring the business enterprise’s intangible and tangible assets.
184; Rumelt (1987), pp. 137ff. 148 See Teece (1986), pp. 187ff. ” See Peteraf (1993), p. 184. 150 See Peteraf (1993), p. 184. 151 See Prahalad and Hamel (1990). 152 See Prahalad and Hamel (1990), pp. 79ff. 153 See Prahalad and Hamel (1990), p. 83; Thiele (1997), p. 73. 154 See Kotler, Berger, and Bickhoff (2010), p. 52. 162 Given the objective of this research to explore the nature of dynamic environments and their effects on diversified firms, the dynamic capabilities view provides an especially valuable approach, which I explain in the following.