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Terms in this set (21)
Conceptual model that aids firms in deciding whether to pursue internal development (build), enter a contractual arrangement or strategic alliance (borrow), or acquire new resources, capabilities, and competencies (buy)
What is the starting point of the build-borrow-or-buy framework?
- identification of a strategic resource gap
What are the four questions that need to be asked when assessing the buil-borrow-or-buy framework?
A voluntary arrangement between firms that involves the sharing of knowledge, resources, and capabilities with the intent of developing processes, products, or services
Strategic management framework that proposes that critical resources and capabilities frequently are embedded in strategic alliances that span firm boundaries
relational view of competitive advantage
Approach to strategic decision making that breaks down a larger investment decision into a set of smaller decisions that are staged sequentially over time
Cooperation by competitors to achieve a strategic objective
Situations in which both partners in a strategic alliance are motivated to form an alliance for learning, but the rate at which the firms learn may vary
Partnership based on contracts between firms
Knowledge that can be codified; concerns knowing about a process or product (patents, user manuals, fact sheets, & scientific publications)
Supply agreements, distribution agreements, and licensing agreements are all examples of what?
Partnership in which at least one partner takes partial ownership in the other
Knowledge that cannot be codified; concerns knowing how to do a certain task and can be acquired only though active participation in that task
Equity investments by established firms in entrepreneurial ventures; CVC falls under the broader rubric of equity alliances
corporate venture capital (CVC)
A firm's ability to effectively manage three alliance-related tasks concurrently: (1) partner selection and alliance formation. (2) alliance design and governance, and (3) post-formation alliance management
alliance management capability
What is the least common of the three strategic alliances?
- joint ventures
The joining of two independent companies to form a combined entity
The purchase or takeover of one company by another; can be friendly or unfriendly
Acquisition in which the target company does not wish to be acquired
The process of merging with competitors, leading to industry consolidation
A form of self-delusion in which managers convince themselves of their superior skills in the face of clear evidence to the contrary
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