Sevi 3013 exam 3/final (ch 6-7)100%
Correct!
Build-borrow-buy framework - ANSWERSConceptual 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).
if yes, build - ANSWERSWhat should we do if the firm's internal resources are relevant
in solving the srategic resource gap?
relevant internal resources - ANSWERSif the resources are:
-similar to those the firm needs to develop to solve the strategic resource gap
-superior to those of competitors
key test VRIN
source the resource externally through a contract - ANSWERS-transfer of ownership
-use of the resource
short-term vs long-term contracts - ANSWERS-licensing
-franchising
-strategic alliances
not close to partner - ANSWERSshort-term and/or long-term contracts with the external
resource partner
closer to the partner - ANSWERSequity alliances and/or joint ventures with the external
resource partner
very close with partner - ANSWERSmergers and/or acquisitions with the external
resource partner
integrating mergers and acquistions - ANSWERSthe most costly, complex, and difficult
to reverse
strategic alliance - ANSWERSa voluntary arrangement between firms that involves
sharing of knowlwdge, resources, and capabilities
intent of strategic alliances - ANSWERSjoint development of new processes, new
products, and new services
why firms enter strategic alliances - ANSWERS-strengthen competitive position
, -enter new markets
-hedge against uncertainty
-access critical complementary assets
-learn new capabilites
hedge against uncertainty: real options approach - ANSWERS-approach to strategic
decision making
-breaks down a larger investment decision into a set of smaller decisions
-staged sequentially over time
-allows firms to obtain information in stages
compelementary assets, complete - ANSWERSstrategic alliances can provide access
to _______ or _______ the value chain
ex: sony, samsung: S-LCD
competitors - ANSWERSfirms can learn from their alliance partners even from partners
who may be _________
ex: General motors, toyota: NUMMI
governing strategic alliances - ANSWERS-non-equity alliances
-equity alliances
-joint ventures
non-equity alliance - ANSWERS-partnership based on contracts between firms
-supply agreements, distibrution agreements, licensing agreements, and franchises
equity alliances - ANSWERSone partner takes a partial equity stake in other
ex: GM/lyft
joint ventures - ANSWERSstandalone organization, created and jointly owned by two or
more parent companies
ex: hulu
alliance management capability - ANSWERS-partner selection and alliance formation
-alliance design and governance
-post-formation alliance management
30-70% of alliances - ANSWERShow many allainces fail to deliver expected benefit due
to lack of effective alliance management?
partner selection - ANSWERS-costs vs. benefits
-alliance goals
Correct!
Build-borrow-buy framework - ANSWERSConceptual 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).
if yes, build - ANSWERSWhat should we do if the firm's internal resources are relevant
in solving the srategic resource gap?
relevant internal resources - ANSWERSif the resources are:
-similar to those the firm needs to develop to solve the strategic resource gap
-superior to those of competitors
key test VRIN
source the resource externally through a contract - ANSWERS-transfer of ownership
-use of the resource
short-term vs long-term contracts - ANSWERS-licensing
-franchising
-strategic alliances
not close to partner - ANSWERSshort-term and/or long-term contracts with the external
resource partner
closer to the partner - ANSWERSequity alliances and/or joint ventures with the external
resource partner
very close with partner - ANSWERSmergers and/or acquisitions with the external
resource partner
integrating mergers and acquistions - ANSWERSthe most costly, complex, and difficult
to reverse
strategic alliance - ANSWERSa voluntary arrangement between firms that involves
sharing of knowlwdge, resources, and capabilities
intent of strategic alliances - ANSWERSjoint development of new processes, new
products, and new services
why firms enter strategic alliances - ANSWERS-strengthen competitive position
, -enter new markets
-hedge against uncertainty
-access critical complementary assets
-learn new capabilites
hedge against uncertainty: real options approach - ANSWERS-approach to strategic
decision making
-breaks down a larger investment decision into a set of smaller decisions
-staged sequentially over time
-allows firms to obtain information in stages
compelementary assets, complete - ANSWERSstrategic alliances can provide access
to _______ or _______ the value chain
ex: sony, samsung: S-LCD
competitors - ANSWERSfirms can learn from their alliance partners even from partners
who may be _________
ex: General motors, toyota: NUMMI
governing strategic alliances - ANSWERS-non-equity alliances
-equity alliances
-joint ventures
non-equity alliance - ANSWERS-partnership based on contracts between firms
-supply agreements, distibrution agreements, licensing agreements, and franchises
equity alliances - ANSWERSone partner takes a partial equity stake in other
ex: GM/lyft
joint ventures - ANSWERSstandalone organization, created and jointly owned by two or
more parent companies
ex: hulu
alliance management capability - ANSWERS-partner selection and alliance formation
-alliance design and governance
-post-formation alliance management
30-70% of alliances - ANSWERShow many allainces fail to deliver expected benefit due
to lack of effective alliance management?
partner selection - ANSWERS-costs vs. benefits
-alliance goals
