Economics from the University College London. He joined the Department of Economics at the University of Southampton in 1952 as an assistant lecturer and earned the position of senior lecturer in 1962. In 1953 Dunning began research on the FDI of American firms into the UK and its affect on UK economic performance‚ which resulted in the seminal 1958 book American Investment in British Manufacturing Industry. In 1964 Dunning was appointed Foundation Chair of Economics at the University of Reading. During his
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improve market position‚ firms have to advance with times by executing all kinds of strategies‚ one of which is acquisition. “An acquisition resembles more of an arm’s-length deal‚ with one firm purchasing the assets or shares of another‚ and with the acquired firm’s shareholders ceasing to be owners of that firm” (Sudarsanam‚ 2003). Serving as an important capital restructuring tool‚ acquisition offers firms a conceivable opportunity for development by taking over another firm economically and legally
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attempt to assess the above proposition and try to find if it is possible to add value continually over a period of time. I will first discuss what competitive advantage is and what it means to a firm. Then I will explain the sources of competitive advantage and how the distinctive capabilities of a firm allow it to sustain added value. The discussion is based on a number of viewpoints from different authors who will be clearly indicated and acknowledged. I begin with explaining what competitive advantage
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don’t have the guts to stick up for himself. But that is about to change‚ he is joining the hooligans from West Ham United! He is beginning to defend himself‚ and he learned how to fight. Pete Dunham: He is a violent guy‚ he is the leader of the firm GSE‚ and he took over after his brother‚ the major. He is living for fighting; he is living for West Ham United and GSE. And he hates journalists‚ they are always writing crap about the hooligans. Bovver: Bovver is also a hooligan from West Ham
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Strength is basically what a company or a firm is good at or does better in order to be more efficient. And it might not necessarily be a competitive advantage but it becomes a basis to develop sustainable competitive advantages. Firms can assess which strengths have potential to be sustainable competitive advantage. A competitive advantage is what enables a business organization to thrive and to offer a superior service over and above its competitors. It is the objective of strategy and it is also
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analysis helps a firm: • determine if its resources and capabilities are likely sources of competitive advantage • establish strategies that will exploit any sources of competitive advantage Copyright © 2012 Pearson Education‚ Inc. publishing as Prentice Hall. 3-3 Evaluating a Firm’s Internal Capabilities The Theory Behind Internal Analysis The Resource-Based View • developed to answer the question: Why do some firms achieve better economic performance than others? • used to help firms achieve competitive
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potential means used by suppliers to exert power over firms competing within an industry. A firm should try to recover cost increased by its suppliers through its own pricing structure or its profitability is reduced by its suppliers’ actions. A supplier group is powerful when: • It is dominated by a few large companies. •
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Volume-variety and design In Chapter 1 the four V’s of operations were described. These were volume‚ variety‚ variation and visibility. The first two of these – volume and variety – are particularly important when considering design issues in operations management. Not only do they usually go together (high variety usually means low volume‚ high volume normally means low variety) but together they also impact on the nature of products and services and processes which produce them. The volume and
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as a good tool to examine the internal environment of a firm. They state that VRIO “stands for four questions one must ask about a resource or capability to determine its competitive potential: 1. The Question of Value: Does a resource enable a firm to exploit an environmental opportunity‚ and/or neutralize an environmental threat? 2. The Question of Rarity: Is a resource currently controlled by only a small number of competing firms? [are the resources used to make the products/services or
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ECONOMIES OF SCALE When a firm moves from small scale to large scale production‚ the average cost of production of each unit falls. The reasons for which this happens are known as economies of scale – they are the benefits which result in the cost savings of large scale operations which come about when a firm expands. In other words‚ economies of scale are advantages reaped by firms engaging in large scale production. There are two types of economies of scale. They are: * Internal economies
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