Claryfing-Busines-Model Osterwalder

The path-to-profitability of Internet IPO firms ☆Bharat A.Jain a,1,Narayanan Jayaraman b,2,Omesh Kini c,⁎aCollege of Business and Economics,Towson University,Towson,MD 21044,United States b College of Management,Georgia Institute of Technology,Atlanta,GA 30332,United Statesc Robinson College of Business,Georgia State University,Atlanta,GA 30303,United StatesReceived 1October 2006;received in revised form 1December 2006;accepted 1February 2007AbstractExtant empirical evidence indicates that the proportion of firms going public prior to achieving profitability has been increasing over time.This phenomenon is largely driven by an increase in the proportion of technology firms going public.Since there is considerable uncertainty regarding the long-term economic viability of these firms at the time of going public,identifying factors that influence their ability to attain key post-IPO milestones such as achieving profitability represents an important area of research.We employ a theoretical framework built around agency and signaling considerations to identify factors that influence the probability and timing of post-IPO profitability of Internet IPO firms.We estimate Cox Proportional Hazards models to test whether factors identified by our theoretical framework significantly impact the probability of post-IPO profitability as a function of time.We find that the probability of post-IPO profitability increases with pre-IPO investor demand and change in ownership at the IPO of the top officers and directors.On the other hand,the probability of post-IPO profitability decreases with the venture capital participation,proportion of outsiders on the board,and pre-market valuation uncertainty.©2007Published by Elsevier Inc.Keywords:Initial public offerings;Internet firms;Path-to-profitability;Hazard models;SurvivalJournal of Business Venturing xx (2007)xxx –xxxMODEL 1AJBV-05413;No of Pages 30☆We would like to thank Kalpana Narayanan,Raghavendra Rau,Sankaran Venkataraman (Editor),Phil Phan (Associate Editor),two anonymous referees,and participants at the 2002Financial Management Association Meetings in San Antonio for helpful comments.We thank Paul Gilson and Sandy Lai for excellent research assistance.The usual disclaimer applies.⁎Corresponding author.Tel.:+14046512656;fax:+14046522630.E-mail addresses:bjain@ (B.A.Jain),narayanan.jayaraman@ (N.Jayaraman),okini@ (O.Kini).1Tel.:+14107043542;fax:+14107043454.2Tel.:+14048944389;fax:+14048946030.0883-9026/$-see front matter ©2007Published by Elsevier Inc.doi:10.1016/j.jbusvent.2007.02.004Please cite this article as:Jain,B.A.et al.The path-to-profitability of Internet IPO firms.Journal of Business2 B.A.Jain et al./Journal of Business Venturing xx(2007)xxx–xxx1.Executive summaryThere has been an increasing tendency for firms to go public on the basis of a promise of profitability rather than actual profitability.Further,this phenomenon is largely driven by the increase in the proportion of technology firms going public.The risk of post-IPO failure is particularly high for unprofitable firms as shifts in investor sentiment leading to negative market perceptions regarding their prospects or unfavorable financing environments could lead to a shutdown of external financing sources thereby imperiling firm survival. Therefore,the actual accomplishment of post-IPO profitability represents an important milestone in the company's evolution since it signals the long-term economic viability of the firm.While the extant research in entrepreneurship has focused on factors influencing the ability of entrepreneurial firms to attain important milestones prior to or at the time of going public,relatively little is known regarding the timing or ability of firms to achieve critical post-IPO milestones.In this study,we construct a theoretical framework anchored on agency and signaling theories to understand the impact of pre-IPO factors such as governance and ownership structure,management quality,institutional investor demand,and third party certification on firms'post-IPO path-to-profitability.We attempt to validate the testable implications arising from our theoretical framework using the Internet industry as our setting.Achieving post-issue profitability in a timely manner is of particular interest for Internet IPO firms since they are predominantly unprofitable at the time of going public and are typically characterized by high cash burn rates thereby raising questions regarding their long-term economic viability.Since there is a repeated tendency for high technology firms in various emerging sectors of the economy to go public in waves amid investor optimism followed by disappointing performance,insights gained from a study of factors that influence the path-to-profitability of Internet IPO firms will help increase our understanding of the development path and long-term economic viability of entrepreneurial firms in emerging, high technology industries.Using a sample of160Internet IPO firms that went public during the period1996–2000, we estimate Cox Proportional Hazards(CPH)models to analyze the economic significance of factors that influence the post-IPO path-to-profitability.Consistent with agency explanations,we find that a higher proportion of inside directors on the board and the change in pre-to-post-IPO ownership of top management are both significantly positively related to the probability of attaining post-IPO profitability.These results support arguments in the governance literature pointing to the beneficial impact of the presence of more insiders on the boards of high technology companies as well as the signaling value of the ownership stake of top management in the post-IPO firm.Additionally,we find evidence to indicate that higher institutional investor demand serves as an effective signal of the ability of Internet firms to attain post-IPO profitability,while greater pre-IPO valuation uncertainty reflects higher divergence of opinion about the future prospects of the IPO firm, and serves as a negative signal of the ability to achieve post-IPO profitability.Finally,we find that while underwriter prestige is unrelated to the probability of post-IPO profitability, VC participation decreases the probability of post-IPO profitability.Our results regarding the impact of VC participation on the probability of post-IPO profitability support arguments in the literature that VCs during the Internet boom period had incentives to grandstand by Please cite this article as:Jain,B.A.et al.The path-to-profitability of Internet IPO firms.Journal of Businesstaking their companies public prematurely and that their monitoring role in the post-IPO period was rather limited since they cashed out earlier due to shorter lock-up periods.Our study makes several contributions.First,we construct a theoretical framework based on agency and signaling theories to identify factors that may influence the path-to-profitability of IPO firms.Second,we provide empirical evidence on the economic viability (path-to-profitability and firm survival)of newly public Internet firms.Third,our study adds to the theoretical and empirical literature that has focused on factors influencing the ability of entrepreneurial firms to achieve critical milestones during the transition from private to public ownership.While previous studies have focused on milestones during the private phase of firm development such as receipt of VC funding and completion of a public offering,our study extends this literature by focusing on a post-issue milestone such as attaining profitability.2.IntroductionThe past few decades have witnessed the formation and development of several vitally important technologically oriented emerging industries such as disk drive,biotechnology,and most recently the Internet industry.Entrepreneurial firms in such knowledge intensive industries are increasingly going public earlier in their life cycle while there is still a great deal of uncertainty and information asymmetry regarding their future prospects (Janey and Folta,2006).A natural consequence of the rapid transition from founding stage firms to public corporations is an increasing tendency for firms to go public on the basis of a promise of profitability rather than actual profitability.3Although sustained profitability is no longer a requirement for firms in order to go public,actual accomplishment of post-IPO profitability represents an important milestone in the firm's evolution since it reduces uncertainty regarding the long-term economic viability of the firm.In this paper,we focus on identifying observable factors at the time of going public that have the ability to influence the likelihood and timing of attaining post-IPO profitability by Internet firms.We restrict our study to the Internet industry since it represents a natural setting to study the long-term economic viability of an emerging industry where firms tend to go public when they are predominantly unprofitable and where there is considerably uncertainty and information asymmetry regarding their future prospects.4The attainment of post-IPO profitability assumes significance since the IPO event does not provide the same level of legitimizing differentiation that it did in the past as sustained profitability is no longer a prerequisite to go public particularly in periods where the market is favorably inclined towards investments rather than demonstration of profitability (Stuart et al.,1999;Janey and Folta,2006).During the Internet boom,investors readily accepted the mantra of “growth at all costs ”and enthusiastically bid up the post-IPO offering prices to irrational levels (Lange et al.,2001).In fact,investor focus on the promise of growth rather than profitability resulted in Internet start-ups being viewed differently from typical 3For example,Ritter and Welch (2002)report that the percentage of unprofitable firms going public rose form 19%in the 1980s to 37%during 1995–1998.4Schultz and Zaman (2001)report that only 8.72%of the Internet firms that went public during January 1999to March 2000were profitable in the quarter prior to the IPO.3B.A.Jain et al./Journal of Business Venturing xx (2007)xxx –xxx Please cite this article as:Jain,B.A.et al.The path-to-profitability of Internet IPO firms.Journal of Business4 B.A.Jain et al./Journal of Business Venturing xx(2007)xxx–xxxnew ventures in that they were able to marshal substantial resources virtually independent of performance benchmarks(Mudambi and Treichel,2005).Since the Internet bubble burst in April2000,venture capital funds dried up and many firms that had successful IPOs went bankrupt or faced severe liquidity problems(Chang, 2004).Consequently,investors'attention shifted from their previously singular focus on growth prospects to the question of profitability with their new mantra being“path-to-profitability.”As such,market participants focused on not just whether the IPO firm would be able to achieve profitability but also“when”or“how soon.”IPO firms unable to credibly demonstrate a clear path-to-profitability were swiftly punished with steeply lower valuations and consequently faced significantly higher financing constraints.Since cash flow negative firms are not yet self sufficient and,therefore,dependent on external financing to continue to operate,the inability to raise additional capital results in a vicious cycle of events that can quickly lead to delisting and even bankruptcy.5Therefore,the actual attainment of post-IPO profitability represents an important milestone in the evolution of an IPO firm providing it with legitimacy and signaling its ability to remain economically viable through the ups and downs associated with changing capital market conditions.The theoretical framework supporting our analysis draws from signaling and agency theories as they relate to IPO firms.In our study,signaling theory provides the theoretical basis to evaluate the signaling impact of factors such as management quality,third party certification,institutional investor demand,and pre-IPO valuation uncertainty on the path-to-profitability.Similarly,agency theory provides the theoretical foundations to allow us to examine the impact of governance structure and change in top management ownership at the time of going public on the probability of achieving the post-IPO profitability milestone.Our empirical analysis is based on the hazard analysis methodology to identify the determinants of the probability of becoming profitable as a function of time for a sample of160Internet IPOs issued during the period1996–2000.Our study makes several contributions.First,we construct a theoretical framework based on agency and signaling theories to identify factors that may influence the path-to-profitability of IPO firms.Second,we provide empirical evidence on the economic viability of newly public firms(path-to-profitability and firm survival)in the Internet industry.Third, we add to the theoretical and empirical entrepreneurship literature that has focused on factors influencing the ability of entrepreneurial firms to achieve critical milestones during the transition from private to public ownership.While previous studies have focused on milestones during the private phase of firm development such as receipt of VC funding and successful completion of a public offering(Chang,2004;Dimov and Shepherd,2005; Beckman et al.,2007),our study extends this literature by focusing on post-IPO milestones. Finally,extant empirical evidence indicates that the phenomenon of young,early stage 5The case of E-Toys an Internet based toy retailer best illustrates this cyclical process.E-Toys was successful in developing an extensive customer base and a strong brand.However,the huge investment in technology, advertising,and promotion to sustain their activities as well as increased competition from both new entrants and old economy firms adopting the Internet to sell toys resulted in depressed profit margins and a longer than expected post-IPO time-to-profitability.Investors discouraged by the firm not reaching profitability within the expected time frame reacted negatively,leading to a steep drop in stock prices and consequently drying up of additional sources of external financing.As a result,the firm was forced to file for bankruptcy within a short period of time after its highly successful IPO.Please cite this article as:Jain,B.A.et al.The path-to-profitability of Internet IPO firms.Journal of Businessfirms belonging to relatively new industries being taken public amid a wave of investor optimism fueled by the promise of growth rather than profitability tends to repeat itself over time.6However,profitability tends to remain elusive and takes much longer than anticipated which results in investor disillusionment and consequently high failure rate among firms in such sectors.7Therefore,our study is likely to provide useful lessons to investors when applying valuations to IPO firms when this phenomenon starts to repeat itself.This articles proceeds as follows.First,using agency and signaling theories,we develop our hypotheses.Second,we describe our sample selection procedures and present descriptive statistics.Third,we describe our research methods and present our results.Finally,we discuss our results and end the article with our concluding remarks.3.Theory and hypothesesSignaling models and agency theory have been extensively applied in the financial economics,management,and strategy literatures to analyze a wide range of economic phenomena that revolve around problems associated with information asymmetry,moral hazard,and adverse selection.Signaling theory in particular has been widely applied in the IPO market as a framework to analyze mechanisms that are potentially effective in resolving the adverse selection problem that arises as a result of information asymmetry between various market participants (Baron,1982;Rock,1986;Welch,1989).In this study,signaling theory provides the framework to evaluate the impact of pre-IPO factors such as management quality,third party certification,and institutional investor demand on the path-to-profitability of Internet IPO firms.The IPO market provides a particularly fertile setting to explore the consequences of separation of ownership and control and potential remedies for the resulting agency problems since the interests of pre-IPO and post-IPO shareholders can diverge.In the context of the IPO market,agency and signaling effects are also related to the extent that insider actions such as increasing the percentage of the firm sold at the IPO,percentage of management stock holdings liquidated at the IPO,or percentage of VC holdings liquidated at the IPO can accentuate agency problems with outside investors and,as a consequence,signal poor performance (Mudambi and Treichel,2005).We,therefore,apply agency theory to evaluate the impact of board structure and the change in pre-to-post IPO ownership of top management on the path-to-profitability of Internet IPO firms.ernance structureIn the context of IPO firms,there are at least two different agency problems (Mudambi and Treichel,2005).The first problem arises as a result of opportunistic behavior of agents to 6Interestingly,just a few years after the bust,technology companies have again started going public while they are still unprofitable (Lashinsky,2006).7For instance,in the biotechnology industry where the first company went public a quarter century ago,public companies have taken in close to $100billion dollars from stock market investors but have delivered cumulative losses of more than $40billion (Hamilton,2004).Similarly,the disk drive industry in the early 1980s passed through phases similar to the Internet industry in terms of high firm founding rates,explosive growth,overoptimistic investors,IPO clusters,and high post-IPO failure rate (Lerner,1995).5B.A.Jain et al./Journal of Business Venturing xx (2007)xxx –xxx Please cite this article as:Jain,B.A.et al.The path-to-profitability of Internet IPO firms.Journal of Business6 B.A.Jain et al./Journal of Business Venturing xx(2007)xxx–xxxincrease their share of the wealth at the expense of principals.The introduction of effective monitoring and control systems can help mitigate or eliminate this type of behavior and its negative impact on post-issue performance.The extant corporate governance literature has argued that the effectiveness of monitoring and control functions depends to a large extent on the composition of the board of directors.We,therefore,examine the relationship between board composition and the likelihood and timing of post-IPO profitability.The second type of agency problem that arises in the IPO market is due to uncertainty regarding whether insiders seek to use the IPO as an exit mechanism to cash out or whether they use the IPO to raise capital to invest in positive NPV projects.The extent of insider selling their shares at the time of the IPO can provide an effective signal regarding which of the above two motivations is the likely reason for the IPO.We,therefore,examine the impact of the change in ownership of officers and directors around the IPO on the likelihood and timing of attaining post-issue profitability.3.1.1.Board compositionThe corporate governance literature has generally argued that a greater proportion of outside directors on the board increases board independence and results in better monitoring of management and thereby lowers agency costs(Fama,1980;Fama and Jensen,1983; Williamson,1984).Therefore,a greater proportion of outside directors on the board of Internet IPO firms is likely to lead to a more effective monitoring and control environment, thus ensuring that managers pursue shareholder value maximizing strategies.In addition, due to their short operating history,management of Internet IPO firms are unlikely to have developed the necessary links with customers,suppliers,bankers,and other important stakeholders of the firm.Outside directors can be instrumental in facilitating the establishment of such links,thereby allowing these firms to better compete in the product market as well as capital market.On the basis of the above discussion,we would expect Internet IPO firms with more independent boards to be on a faster path-to-profitability. Hypothesis1:The proportion of outsiders on the board of Internet IPO firms is positively related to the probability of profitability and negatively related to time-to-profitability during the post-IPO period.The extant empirical evidence on the positive relation between board composition and performance,however,has been mixed,both for IPO firms as well as more seasoned corporations(Dalton et al.,1998;Baker and Gompers,2003).The ambiguous results can be partly attributed to the tradeoff between the benefits from the presence of outside directors such as more effective monitoring and control,greater objectivity,and assistance in resource acquisitions versus the benefits provided by inside directors such as detailed knowledge of the firm's operations,customer requirements,and technology that in turn can help the strategic planning process.Viewed through the innovation and technology prism, high technology Internet IPO firms may actually benefit more from in-depth technological knowledge,expertise,commitment,and innovative thinking that insiders bring to the board,rather than from the monitoring and control benefits provided by outside directors.In support of this argument,Zahra(1996)points out that boards comprised of a higher proportion of insiders may be more innovative and better positioned to serve management Please cite this article as:Jain,B.A.et al.The path-to-profitability of Internet IPO firms.Journal of Businessas knowledgeable sounding boards in the formulation of strategy.Further,since high technology Internet firms are unlikely to generate substantial free cash flows in the period immediately after the IPO,the potential for wasteful expenditure is lower,and therefore,the benefits of monitoring and control provided by outsiders is less likely to be substantive.If there is a greater need for creative thinking and decision-making in high technology knowledge-based industries that only insiders are uniquely qualified to provide,we expect a negative relation between the proportion of outsiders on the board and the probability of profitability and a positive relation with time-to-profitability.Hypothesis 1A:The proportion of outsiders on the board of Internet firms is negatively related to the probability of profitability and positively related to time-to-profitability during the post-IPO period.3.1.2.Ownership of officers and directorsCorporate governance studies have also focused extensively on corporate ownership and its impact on performance,both in isolation and in conjunction with board composition.Both agency and signaling theories provide similar predictions regarding the relationship between the extent of insider ownership and post-issue performance.Agency theory suggests that high insider ownership reduces agency conflicts and enhances organizational performance,while signaling theory argues that higher insider ownership is a credible signal of insider's confidence regarding the future prospects of the firm.The change in the ownership of the top managers and directors around the offering can be viewed as an important signal of the issuing firm's future prospects (Leland and Pyle,1977).In the context of the IPO market,a large post-IPO decline in top management ownership can be interpreted as a signal of their lack of confidence in the ability of the firm to generate sufficient cash flows to reach the profitability milestone.Additionally,any decline in the ownership stakes of owners/managers is likely to adversely affect post-IPO performance due to higher agency costs (Jensen and Meckling,1976).While the extent of the change in ownership of insiders around the IPO is an informative signal for all types of IPO firms,it is particularly relevant in the context of Internet firms that go public while predominantly unprofitable and where the informational and incentive problems are particularly acute.For instance,Mudambi and Treichel (2005)find that a substantial reduction in equity holdings of the top management of Internet firms signals an impending cash crisis.We,therefore,argue that the greater the decline in the pre-to-post IPO ownership of top managers and directors,the lower the probability of attaining profitability,and consequently the longer the time-to-profitability.Hypothesis 2:The decline in ownership of officers and directors from pre-to-post-IPO is negatively related to the probability of attaining profitability and positively related to time-to-profitability after the IPO.3.2.Management qualityAn extensive body of research has examined the impact of top management team (TMT)characteristics on firm outcomes for established firms as well as for new ventures by drawing from human capital and demography theories (Eisenhardt and Schoonhoven,7B.A.Jain et al./Journal of Business Venturing xx (2007)xxx –xxx Please cite this article as:Jain,B.A.et al.The path-to-profitability of Internet IPO firms.Journal of Business8 B.A.Jain et al./Journal of Business Venturing xx(2007)xxx–xxx1990;Finkelstein and Hambrick,1990;Wiersema and Bantel,1992;Hambrick et al.,1996; Beckman et al.,2007).For instance,researchers drawing from human capital theories study the impact of characteristics such as type and amount of experience of TMTs on performance(Cooper et al.,1994;Gimeno et al.,1997;Burton et al.,2002;Baum and Silverman,2004).Additionally,Beckman et al.(2007)argue that demographic arguments are distinct from human capital arguments in that they examine team composition and diversity in addition to experience.The authors consequently examine the impact of characteristics such as background affiliation,composition,and turnover of TMT members on the likelihood of firms completing an IPO.Overall,researchers have generally found evidence to support arguments that human capital and demographic characteristics of TMT members influence firm outcomes.Drawing from signaling theory,we argue that the quality of the TMTof IPO firms can serve as a signal of the ability of a firm to attain post-IPO profitability.Since management quality is costly to acquire,signaling theory implies that by hiring higher quality management,high value firms can signal their superior prospects and separate themselves from low value firms with less capable managers.The beneficial impact of management quality in the IPO market includes the ability to attract more prestigious investment bankers,generate stronger institutional investor demand,raise capital more effectively,lower underwriting expenses, attract stronger analyst following,make better investment and financing decisions,and consequently influence the short and long-run post-IPO operating and stock performance (Chemmanur and Paeglis,2005).Thus,agency theory,in turn,would argue that higher quality management is more likely to earn their marginal productivity of labor and thus have a lower incentive to shirk,thereby also leading to more favorable post-IPO outcomes.8 We focus our analyses on the signaling impact of CEO and CFO quality on post-IPO performance.We focus on these two members of the TMT of IPO firms since they are particularly influential in establishing beneficial networks,providing legitimacy to the organization,and are instrumental in designing,communicating,and implementing the various strategic choices and standard operating procedures that are likely to influence post-IPO performance.3.2.1.CEO characteristicsCEOs play a major role in designing and implementing strategic choices and policies for their firms.Their actions can have long-term significance since they typically define long-term policies of the firm(Parrino,1997).While the role and influence of CEOs on strategic choices,incentive mechanisms,accountability issues,and consequently performance is vital for all types of organizations,their impact is especially relevant for newly public firms that face significant competitive,product market,and financing challenges during the post-IPO phase.The role and impact of CEOs can be even more critical for the subset of technology related IPO firms since they may require fundamentally different skill sets and competencies from CEOs compared to those required to run companies in more traditional industries.We assess CEO quality by focusing on variables that capture the extent of general and specific human capital developed by them through their prior work experience and their risk propensity and decision-making behavior.In distinguishing between general and specific8We thank the Associate Editor,Phil Phan for suggesting this explanation.Please cite this article as:Jain,B.A.et al.The path-to-profitability of Internet IPO firms.Journal of Business。

外国企业文化文献1. Hofstede, G. (1980). Culture's Consequences: International Differences in Work-Related Values. Beverly Hills, CA: Sage Publications.- This book explores the impact of culture on work-related values and behaviors in different countries. It provides a comprehensive framework for understanding and comparing cultural differences and their implications for multinational companies.2. Trompenaars, F., & Hampden-Turner, C. (1997). Riding the waves of culture: Understanding cultural diversity in business. New York: McGraw-Hill.- This book offers insights into cultural differences in business practices and provides practical advice for managing cultural diversity in multinational companies. It presents a model for understanding and navigating cultural differences in different business contexts.3. Adler, N. J. (2008). International dimensions of organizational behavior. Mason, OH: South-Western/Cengage Learning.- This textbook provides an overview of various aspects of organizational behavior in an international context. It covers topics such as cross-cultural communication, leadership, motivation, andteamwork, offering insights into the challenges and opportunities of managing multinational teams.4. Hall, E. T. (1976). Beyond culture. New York: Doubleday.- In this book, Edward T. Hall explores the concept of culture and its impact on communication and behavior. It delves into the differences between high-context and low-context cultures and provides valuable insights for understanding and navigating cultural differences in international business settings.5. Schein, E. H. (2010). Organizational culture and leadership. San Francisco, CA: Jossey-Bass.- This book examines the role of organizational culture in shaping the behavior and performance of companies. It explores the various layers of culture within organizations and offers practical guidance for managing and transforming company culture in a global context.These references provide a range of perspectives on the topic of foreign company culture and can serve as valuable resources for understanding and managing cultural differences in international business.。

A person with a parochial attitude cannot succeed in today’s world.
Globe Findings
Global Leadership and Organizational Behavior Effectiveness (GLOBE)
Globe: Dimensions of Cultural Difference
Fundamentals of Management
Tenth Edition
Chapter 3 Integrative Managerial
Issues
Learning Objectives
3.1 Explain globalization and its impact on organizations.
Globalization and Its Impact
Global village: • a boundaryless world where goods and services are
produced and marketed worldwide.
What Does It Mean to Be "Global"?
How Do Organizations Go Global?obal
Source: Robbins, Stephen P., Coulter, Mary, Management, 13th Ed., © 2016, p. 106. Reprinted and electronically reproduced by permission of Pearson Education, Inc., New York, NY

Unit 1~2Mercantilism 重商主义 Neomeicantilist 新重商主义者Trade surplus 贸易顺差Quota and tariff 配额和关税Government intervention 政府干预Zero-sum game 零和博弈Positive-sum game 常和博弈The theory of absolute advantage 绝对优势理论The theory of comparative advantage 比较优势理论Factor endowments 要素禀赋理论Product life cycle 产品生命周期（+theory ……理论）Economies of scale 规模经济Diminishing returns 收益递减规律Green revolution 绿色革命Voluntary restriction 自动出口限制Deposit 佣金First mover advantage 先占优势Barrier to entry 进入(市场)壁垒Porter’s diamond theory 波特的钻石理论National competitive advantage 国家竞争优势The department of commerce 商务部Letter of credit 信用证Draft /bill of exchange 汇票bill of lading B/L 提单Sight draft 即期汇票Time draft 远期汇票Banker ‘s acceptance 银行承兑（+bill …汇票）Trade acceptance 商业承兑汇票Countertrade 对等贸易Barter 易货贸易Switch trading 转手贸易Offset 抵消Counter purchase 互购贸易Compensation trade 补偿贸易Mercantilism suggests that it is in a country’s best interest to maintain a trade surplus -- to export more than it imports（重商主义就是保持贸易顺差以实现一国的最大利益---出口超过进口）Mercantilism advocates government intervention(介入) to achieve a surplus in the balance of trade （重商主义主张政府介入以便实现对外贸易顺差）It views trade as a zero-sum game - one in which a gain by one country results in a loss by another （将贸易看成零和博弈，一个国家收益一个国家受损）Absolute Advantage 绝对优势Adam Smith argued that a country has an absolute advantage in the production of a product when it is more efficient than any other country in producing it亚当斯密认为一个国家生产一种商品比其他任何国家效率都高时存在绝对优势According to Smith, countries should specialize in the production of goods for which they have an absolute advantage and then trade these goods for the goods produced by other countries 按照亚当斯密的说法，各国应该专门生产具有绝对优势的商品，然后用他们交换其他国家生产的商品The Benefit（好处） of Absolute Advantage and Free TradeThe Principle for International Division of Labor–Absolute Advantage 国际分工的原则---绝对优势The Consequence（结果） of Division of Labor and Free Trade 分工的结果和自由贸易1. To Production: the Flow of the Factor of Production 生产要素的流动； the Efficiency of Factor Distribution 要素分配效率；the Quantity of Production 产品质量。

NEA/NTL OD Certificate ProgramDiagnosing Organizations With Impact! ! ! ! ! ! DIAGNOSTIC MODELS: AN INTRODUCTIONJulie A. C. NoolanTraditional diagnostic models can be categorized as descriptive models or normative models.Descriptive modelsWith descriptive models, the role of the OD practitioner is to illuminate “what is” for the client, and “what could be”. Within descriptive models, contingency theorists would argue that the OD practitioner facilitates change only, not focus. The client determines the direction of change and the OD practitioner helps the client get there. Most diagnostic models fit under the “descriptive” category. Examples include:Bolman and Deal: Four Frames ModelFreedman: Socio-technical Systems ModelGalbraith: Star ModelHornstein and Tichy: Emergent Pragmatic Model[Sometimes used in developing consultant or company specific models]McKinsey: 7-S ModelNadler and Tushman: Congruence ModelNormative ModelsWith normative models, the practitioner recommends specific directions for change, prior to the diagnosis – the “one best way of managing.” Examples include:! ! Blake and Mouton’s Grid [Concern for People/Concern for Productivity 9, 9].Likert’s ProfilesYet other diagnostic approaches include Levinson’s Clinical Historical Approach, patterned on a psychoanalytic approach to the client system.NEA/NTL OD Certificate ProgramDiagnosing Organizations With Impact! ! ! !WHAT’S IMPORTANT TO LOOK AT IN ORGANIZATIONSBy Robert J. Marshak, Ph.D.Organizational theorists and consultants have developed a wide variety of models identifying important organizational elements and their interrelationships. Each is predicated on a particular theory/theories or perspective(s), and each intended to highlight and bring into focus a broad range of data and experience for purposes of diagnosis and intervention.A range of well-known models are displayed on the following pages. Please note:Most of the models suggest interaction or interrelationships among all theselected variables.Many of the same variables are contained in all the models, although notnecessarily in the same way or with the same emphasis.The fewest number of variables depicted in a model is four (Leavitt), the greatestis twelve (Burke-Litwin), most are between five and seven.Each model leaves out variables that another school of thought might include oremphasize. For example, only the Hanna model mentions “hard numbers,” i.e. financial performance.LIST OF MODELS INCLUDED, in Alphabetical Order by Author/sCompiled by Robert J. Marshak, Ph.DBeckhard, Richard GRPI 2-4 Beckhard, Richard & Pritchard, Wendy Change Model 2-7 Blake, Robert & Mouton, Jane Managerial Grid 2-8 Bolman, Lee G. & Deal, Terrence E. Four Frames Model 2-9 Burke, W. Warner & Litwin Causal Model of Performance & Change 2-12 Freedman, Arthur M. - Swamp Model Of Sociotechnical Systems 2-13 Galbraith, Jay R. Star Model 2-21 Hanna, David P. Organizational Performance Model 2-22 Killman, Ralph Five Track Model 2-23 Kotter, John P. Organizational Dynamics Model 2-24 Leavitt, Harold J. 2-25 Mckinsey Consulting 7 Ss Model 2-26 Morgan, Gareth Metaphors 2-28 Nadler, David A. & Tushman, Michael L. A Congruence Model for Diagnosing 2-29Organization BehaviorWeisbord, Marvin R. Six-Box Diagnostic Model 2-30 NEA/NTL OD Certificate ProgramDiagnosing Organizations With ImpactGRPI MODELRICHARD BECKHARDGOALS-- Do we have clarity?-- Do we have agreement?ROLES -- What are our roles and responsibilities? PROCEDURES-- How we do our work?NEA/NTL OD Certificate Program Diagnosing Organizations With Impact !!Procedure, rules, approaches?SystemsHow we work together?INTERACTIONS -- Interpersonal, inter-group?How do we work together in a mutuallysupportive way?Source: Richard Beckhard, Optimizing Team Building Effort, Journal of Contemporary Business,Vol1(3),1972BECKHARD’S G R P I MODELJulie A. C. Noolan, Ph.D.Although Beckhard’s model* originally addressed teambuilding, I have found it a very useful approach for dealing with a broad range of groups and companies when they are stuck. In this model you work from the top down.As organization development consultants we are often called in when a group appears to be in conflict. And often our backgrounds tend to make us focus more on the inter-personal or inter-group dysfunctionality. But Beckhard would argue that that is the last thing we should look at when a group is having difficulties. He says that not only does it make more sense to start at the top, ensuring that a group or organization has clarity regarding its vision, mission, or purpose, but that it is also much easier and quicker to work these issues, getting agreement, than it is to deal with interactions, whether they be between individuals or parts of an organization.I describe it sometimes using a sports analogy. It doesn’t make matter how well the players on a football team like each other if they don’t know that their goal is to get that football across the goal line or kicked between the uprights. And it doesn’t matter how well they get along with each other, and pat each other on the back or elsewhere, if they don’t understand what their positions or roles are on the field—that the quarterback throws the ball and the place kicker kicks it, and so on. And it doesn’t matter that they really trust each other, if they don’t understand the procedures or rules of the game. And it is only when there is clarity and agreement on the above three areas that the consultant should address interactions, either inter-personally or inter-group.This model is one of the templates I routinely run through in my head in working with a group, even if it is not what I have initially been called upon to address. Without clarity on goals, roles, and procedures, there is little long-term benefit in working at the interaction level.*Richard Beckhard (1972) “Optimizing Team Building Effort” Journal of Contemporary Business. Volume 1 (3) pp.23-32NEA/NTL OD Certificate ProgramDiagnosing Organizations With ImpactNEA/NTL OD Certificate ProgramDiagnosing Organizations With ImpactMISSION OR PURPOSE! ! ! ! Who we are What we doFor whom do we do it Why we do itGOALS OR OBJECTIVES! ! ! Priorities! What’s the work and how is it sequenced (milestones)? How is success measured? Specific, time bound, with accountabilitiesROLES! ! ! ! ! Where does leadership for this team/group reside? How is the work divided up?Individual responsibilities, accountabilities, authority How are roles addressed across interfaces?To whom am I responsible and who is responsible to me?PRACTICES! ! ! ! How is work organized?How do we “operate”…..what are the important “norms” How and when do we communicate, and to whom?All infrastructures: performance management, decision making, problem-solving,resolving conflict, organization structure, team/group versus individual practices, etc.RELATIONSHIPS! ! ! ! ! How do we work together in a mutually supportive way?What do we need from one another and what do we get/not get? What are our expectations of one another and of the group? How do we give feedback to one another?Trust, support…..saying what we’ll do and doing what we say.BECKHARD & PRITCHARD CHANGE MODELSource: Richard Beckhard & Wendy Pritchard, Changing the Essence: The Art of Creating and LeadingFundamental Change in Organizations, San Francisco: Jossey-Bass Publishers, 1992NEA/NTL OD Certificate ProgramDiagnosing Organizations With ImpactMANAGERIAL GRIDBLAKE and MOUTONConcern for People9NEA/NTL OD Certificate ProgramDiagnosing Organizations With Impact9Concern for ProductionSource: Burke, W. Warner Organization Development 2nd ed. Pages 116-121.NEA/NTL OD Certificate ProgramDiagnosing Organizations With ImpactTHE FOUR FRAMES MODELbyBOLMAN AND DEALStructural! Roles! Relationships ! Structures! Rules & PoliciesGoal: CoordinationHR! Tailoring the organization to meethuman needsGoal: Individual job fulfillmentPolitical! Scarce resources which lead to:conflict, bargaining and coalitionsGoal: Increase political skillsSymbolic! ! Rituals ! Myths! Ceremonies ! Beliefs Organization’s shared values andcultureGoal: Manage symbols, myths, and traditionsThe following is excerpted from Bolman and Deal: Modern Approaches to Understanding and Managing Organizations. Jossey-Bass, 1989.Bolman and Deal describe their model as embracing “conceptual pluralism” – they take the various schools or organization thought and categorize the perspectives into four “frames” to characterize these different vantage points. As they say, frames are windows on the world. Frames filter out some things while allowing others to pass through easily. Frames help us to order the world and decide what actions to take. Every manager has a personal frame, or image, of organizations to gather information, make judgements, and get things done.Understanding organizations is nearly impossible when the manager isunconsciously wed to a single, narrow perspective. Managers in all organizations can increase their effectiveness and their freedom through the use of multiple vantage points. To be locked into a single path is likely to produce error and self-imprisonment. We believe that managers who understand their own frame –and who can adeptly rely on more than one limited perspective – are better equipped tounderstand and manage the complex everyday world of organizations. Sometimes they can make a significant difference in how that world responds.There are four frames for looking at an organization in this model:1. Structural – the rational, tough-minded side of organizations … clarifyingbasic issues in organization design … the relationship between goals andstructure organizations.2. Human resource – the human side of enterprise … examines strengths andweaknesses of current approaches to humanizing the workplace.3. Political -- the darker side of organizations – conflict, coalitions, andstruggles for power and positions.4. Symbolic – organizational symbols … explains the roles played by myths,rituals, ceremonies, and plays at all levels of the organizations.The structural frame emphasizes the importance of formal roles and relationships. Structures – commonly depicted in organization charts – are created to fit an organization’s environment and technology. Organizations allocate responsibilities to participants (“division of labor”) and create rules, policies, and management hierarchies to coordinate diverse activities. Problems arise when the structure does not fit the situation. At that point, some form of reorganization is needed to remedy the mismatch.The human resource frame establishes its territory because organizations are inhabited by people. Individuals have needs, feelings, and prejudices. They have both skills and limitations. They have great capacity to learn and a sometimes greater capacity to defend old attitudes and beliefs. From a human resource perspective, the key to effectiveness is to tailor organizations to people – to find an organizational form that will enable people to get the job done while feeling good about what they are doing. Problems arise when human needs are throttled.The political frame views organizations as arenas of scarce resources where power and influence are constantly affecting the expected because of differences in needs, perspectives, and life-styles among different individuals and groups. Bargaining, coercion, and compromise are all part of everyday organizational life. Coalitions form around specific interests and may change as issues come and go. Problems may arise because power is unevenly distributed or is so broadly dispersed that it is difficult to get anything done. Solutions are developed through political skill and acumen – much as Machiavelli suggested centuries ago.The symbolic frame abandons the assumptions of rationality that appear in each of the other frames and treats the organization as theater or carnival. Organizations NEA/NTL OD Certificate ProgramDiagnosing Organizations With Impactare viewed as held together more by shared values and culture than by goals and policies. They are propelled more by rituals, ceremonies, stories, heroes, and myths than by rules, policies, and managerial authority. Organization is drama: the drama engages actors inside, and outside audiences form impressions based on what they see occurring on-stage. Problems arise when actors play their parts badly, when symbols lose their meaning, when ceremonies and rituals lose their potency. Improvements come through symbol, myth and magic.Each frame has its own vision of reality. Only when managers can look at organizations through all four frames are they likely to appreciate the depth and complexity of organizational life. Successful managers rely intuitively on all the different frames, blending them into a coherent, pragmatic, personal theory of organizations. We believe than an explicit introduction to, and grounding in, all four frames can enrich any manager’s native intuition. Success becomes possible even for the great majority of us who were not born with the ability to understand and act effectively in such a complicated and ambiguous world.NEA/NTL OD Certificate ProgramDiagnosing Organizations With ImpactCAUSAL MODEL OF PERFORMANCE CHANGEBURKE-LITWINSource: W. Warner Burke, in Ann Howard (ed.) Diagnosis for Organizational Change,Guilford Press, 1994NEA/NTL OD Certificate ProgramDiagnosing Organizations With ImpactTHE SWAMP MODEL OF SOCIOTECHNICAL SYSTEMSCopyright ©1987, Arthur M. Freedman, Ph.D. NEA/NTL OD Certificate ProgramDiagnosing Organizations With ImpactElements of Socio-Technical SystemsArthur M. Freedman, Ph.D.1. Vision: Goal Structure (Organizational Direction):A. Alternative Future Scenarios: Best-Case, Worst-Case, and Most Likely-Case.B. Mission.C. Strategic Goals or Operational Objectives.D. Strategic Plans.E. Philosophy and Values.2. Production:A. Nature of the core work processes:1. Project (“job shop”).2. Production (assembly line).3. Continuous process.B. Operational plans for:1. Human Resources:a. Number and type of employees (current and future).b. Deployment schedule for employees.c. Inducements to be exchanged for contributions.2. Work flow (design or redesign of the organization’s value-adding businessprocesses).3. Differentiation of responsibilities: tasks, activities and functions.4. Integrative structure for communications and decision-making.5. Assessing match between “expected” and “actual” performance andresults.6. Scanning for, identifying, defining, and solving emerging operationalproblems or improvement opportunities.C. Corrective and preventive maintenance measures for human resources.D. Corrective and preventive maintenance for physical resources3. Financials:A. Projected versus actual revenues (funds).B. Budgeted versus actual expenses (costs).C. Profit and loss.D. Financial management and auditing systems and procedures – including real-time value-adding activity-based accounting (EVA).NEA/NTL OD Certificate ProgramDiagnosing Organizations With Impact4. People (Human Resource Management Systems):A. Strategic H.R. Plans: Determining how to satisfy current and projected H.R.needs for all organizational subsystems.B. H.R. Utilization: Developing, enhancing, retaining competencies of currentemployees to satisfy current work requirements.C. H.R. Development: Preparing current employees to meet projected workrequirements.D. H.R. Monitoring: Auditing systems to identify and study human performanceand indications of underachievement or non-achievement.5. Organizational Structure:A. Organizational charts indicating hierarchical levels, positions, and lines ofauthority and accountability.B. Responsibilities for individuals (roles) and intact work units (charters): Tasks,activities, and functions.C. Policies and procedures.D. Rules and regulations.6. Technology:A. “Hard” technologies: E.g., equipment, materials, facilities.B. “Soft” technologies: E.g., managerial-supervisory practices; interpersonal,team and inter-group communications, problem-solving and decision-making processes.7. Organizational Culture and Climate:A. Culture: The persistent manifestations and impacts of historicalorganizational traditions, practices, beliefs, values, precedents, myths, andlegends that are the foundations of contemporary, informal (unwritten) norms and standards governing acceptable behavior by organizational members. NEA/NTL OD Certificate ProgramDiagnosing Organizations With ImpactB. Climate: Current levels of tension, sense of urgency, pace, and tempo ofactivities in response to temporary conditions (e.g., crisis, emergency,uncertainty, turbulence, calm, predictability, or consistency).8. Organizational Leadership:A. Support the goal structure (direction) of the enterprise.B. Insure the integrity of the boundaries between the system and the externalenvironment:1. Support (or perform) boundary management functions including thedevelopment of teamwork between organizational elements orsubsystems and significant external stakeholders and constituents.2. Represent the requirements, preferences and concerns of all parts of theorganization to their relevant, significant external stakeholders andconstituents.3. Represent the requirements, preferences, and concerns of relevant,significant external stakeholders and constituents to the organization’smajor subsystems and employees.C. Provide “Variance Analysis”1. Scan, monitor all socio-technical system functions within the enterprise.2. Identify, define operational problems, improvement opportunities, andentrepreneurial opportunities.3. Develop and implement action plans to solve or prevent problems and tocapitalize on improvement or entrepreneurial opportunities.4. Evaluate effectiveness of corrective and preventive actions taken.D. Ensure timely, effective corrective and preventive maintenance for human,fiscal, and physical resources.9. Input-Output Transactions at the Interface Between the Organization andits Relevant External Stakeholders:A. Relevant stakeholders and constituents are identified as having a legitimate“stake” or vested interest in the enterprise and its manner of operating.B. Inputs imported into the organization:1. Nature of the inputs which are delivered by supply-side stakeholders:E.g., market information, technical knowledge and skills, information onregulations and ground rules, people, materials, equipment, and/orfinancial resources.2. Quality of inputs: I.e., the degree to which inputs provided by supplierssatisfy the organization’s specifications (standards or criteria),requirements, and preferences.NEA/NTL OD Certificate ProgramDiagnosing Organizations With Impact3. Reliability and/or timelines of delivery of inputs to the organization.C. Outputs exported from the enterprise:1. Nature of the outputs delivered by the organization to its demand-sidestakeholders (customers and users): E.g., goods, services, marketing orsales activities, dividends to shareholders, reports to governmentalregulators, employees’ salaries and wages, and waste materials andgarbage.2. Quality of outputs: The degree to which the system’s outputs satisfy thecustomers’ specifications, requirements, and preferences.3. Reliability and/or timelines of delivery of outputs to customers and users.D. Organizational boundary management systems or mechanisms:1. Identity of persons or groups responsible for negotiating and conductinginput-output transactions with external demand-side or supply-sidestakeholders.2. Standards or criteria used to determine the limits of acceptability of inputsfrom suppliers or outputs to customers.3. Methods, procedures, or processes used to determine “acceptability”.4. Degree of decision-making authority, including the source or basis of thisauthority.5. Degree to which the boundary management system scans the externalenvironment (proactively or reactively) for relevant activity, changes,trends, novel conditions or events, etc.E. Methods of managing transactions across lateral interfaces between theorganization and its relevant stakeholders and constituents:1. Effective communication: Accurate, timely, comprehensive transmissionand reception of relevant, influential input and feedback.2. Goal clarification and negotiation for agreement.3. Role clarification and negotiation (and re-negotiation).4. Conflict management and utilization.5. Clarification and negotiation of mutual expectations.6. Negotiating decision-making procedures and strategies, includingresponsibilities and authority.7. Joint identification and solving of problems or capitalizing on improvementopportunities.8. Negotiating commitments and consequences.Copyright ©1987, Arthur M. Freedman, Ph.D. NEA/NTL OD Certificate ProgramDiagnosing Organizations With ImpactNEA/NTL OD Certificate ProgramDiagnosing Organizations With Impact! ! ! ! ! ! ! ! ! ! Assessing the Fit Between a System and Its EnvironmentArthur M. Freedman, Ph.D.Divide group into sub-groups (teams) that represent major stakeholder groups or constituent populations within the larger organization (e.g., “Managers,” “Labor Union,” “Finance,” “Maintenance,” “Marketing,” “Engineering Group,” “Human Resources”).Each team is to describe itself in terms of its:1. Direction being taken by the groupWhat is your Vision of the world in which you must compete, operate and survivein the future?What is your Mission? In what business or businesses is your group involved?What is your market? How do you add value to your customers’ operations? What is your competitive advantage?What are the Strategic Goals that you must achieve to survive and grow? Whatmust you do to contribute to the realization of Mission of your larger organization?What is your Strategy to achieve these Goals?What are the Values or Philosophy that you use to guide your group’s operationand the behavior of its members?2. ProductionFrom whom does your group get its work requests? How are they originated?How do you know what to produce? Why are you able to obtain work? How do you attract work?What goods, products, or services does your group produce? What will yourgroup be producing in the future?What standards or criteria must be satisfied for these work results to beconsidered acceptable? Who establishes these standards or criteria?How effective is your group? Are you satisfying these production standards orcriteria? Are you profitable? Are your deliveries on time? Are you efficient? How do you know?3. PeopleHow many of what types of people doe the group currently require to operateeffectively? Do you have all these people under contract now? Are your people over- or under-qualified?NEA/NTL OD Certificate ProgramDiagnosing Organizations With Impact! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! How many of your people will still be fully qualified next year? Five years fromnow? 10 years from now? 20 years from now? Is it possible that the future work demands that your people must satisfy will exceed their current types or levels of competence?How many of your fully qualified people will leave or retire next year? Five yearsfrom now? 10 years from now? 20 years from now?How many of what types of people will the group require next year? Five yearsfrom now? 10 years from now? 20 years from now?Where will your group find the people you will need? How will you recruit,screen, and select those who are fully qualified?What will it take to attract and contract with the fully qualified people that yourgroup will need?4. StructureWho is responsible for which tasks, activities, and functions? Who has what level of authority over whom? Who is accountable to whom?What guidelines, rules, regulations, policies, and procedures reinforce, limit orprescribe the behavior or activities of the members of this group?5. Culture and climateWhat behaviors are acceptable and encouraged or rewarded in this group? What behaviors are unacceptable and tolerated, ignored or punished? What is the current emotional climate within the group?Is your group’s culture and climate similar or different compared with theprevailing culture and climate within the larger organization? Among your stakeholder groups? Among your constituent populations?6. LeadershipHow does your group stay in touch with internal organizational and externalenvironmental events and conditions? How do you know if significant changes are taking place that could effect your group’s business?How does your group ensure that its members’ activities are all oriented towardthe same common goals and purpose?How does the group identify, define and solve its problems – and exploit orcapitalize on emerging opportunities to improve its effectiveness?NEA/NTL OD Certificate ProgramDiagnosing Organizations With Impact! ! ! ! !7. Transactions with stakeholder groups and constituent populationsWhich significant groups or individuals have some vested interest in this group’sactivities? Which of these suppliers, customers, regulators, investors, etc. are internal to the group’s organization? Which are external? What does the group “import” from its “suppliers”?What does the group “export” to its “customers” or “users” or “targets”? By whom and how are these transactions managed?Through the use of which methods are these transactions managed so as tomaximize mutual satisfaction and to minimize or eliminate difficulties? Copyright ©1987, Arthur M. Freedman, Ph.D.STAR MODELJay R. GALBRAITHNEA/NTL OD Certificate ProgramDiagnosing Organizations With ImpactSource: Jay R. Galbraith, Organization Design, Addison-Wesley, 1977Integrating IndividualsChoice of: Promotion Training & Development Transfer Selection ! ! ! ! ! ! ! ! Compensation System Promotion Basis Leadership StyleJob DesignORGANIZATIONAL PERFORMANCE MODELDAVID P. HANNAPeople InformationSource: David P. Hanna, Designing Organizations for High Performance, Addison-Wesley, 1988NEA/NTL OD Certificate ProgramDiagnosing Organizations With ImpactFIVE TRACK MODELRALPH KILMANNSource: Ralph Kilmann, Beyond the Quick Fix, San Francisco, CA: Jossey-Bass Publishers, 1984NEA/NTL OD Certificate ProgramDiagnosing Organizations With ImpactORGANIZATIONAL DYNAMICS MODEL: JOHN P. KOTTERSource: John P. Kotter, Organizational Dynamics: Diagnosis and Intervention, Addison-Wesley, 1978NEA/NTL OD Certificate ProgramDiagnosing Organizations With ImpactLEAVITT MODELSource: Harold J. Leavitt, “Applied Organizational Change in Industry: Structural, Technological and Humanistic Approaches,” in James G. March (Ed.) Handbook of Organizations, Rand McNally and Company, 1965.NEA/NTL OD Certificate ProgramDiagnosing Organizations With Impact。

University of GroningenProductivity Differentials in the U.S. and EU Distributive Trade Sector: Statistical Myth Or Reality?Marcel Timmer Robert Inklaar Bart van Ark University of Groningen and The Conference Board OECD Workshop on Services 15 & 16 November 20041BackgroundGrowth of value added per hour worked in trade, U.S. and EU Motor vehicle trade Wholesale trade 1980-1995 1995-2002 1980-1995 1995-2002 U.S. 2.0 4.3 4.0 8.1 EU-15 1.9 1.2 2.7 1.6 France Germany Netherlands U.K. 1.9 1.4 2.4 3.8 0.5 -1.0 1.3 4.2 4.7 2.7 2.1 3.8 1.2 1.6 3.5 2.5 Retail trade 1980-1995 1995-2002 2.5 7.1 2.0 1.5 3.4 2.2 2.5 2.4 1.5 1.3 1.1 4.0Distributive trade sector accounts for large part of post1995 productivity boom in U.S. (Triplett & Bosworth, 2004) Big part of EU-US productivity differential is traced to this sector (van Ark, Inklaar and McGuckin, 2002)Combination of ICT and organisational innovation has transformed sector into “information industry” (McGuckin, Spiegelman and van Ark, 2004) 2But is the EU-US productivity growth differential real or is it a measurement issue?Impact of “inside the box” quality adjustments for ICT on U.S. trade output measure Experimental estimates of double deflated real margin instead of real sales index Sources of productivity growth in trade: increase in service output or saving in intermediate inputs?3Main conclusionsThere is a slight upward bias in U.S. trade output measures due to ICT but much more so in wholesale than in retail services Double deflated estimates of real output margin do not change aggregate retail measure in U.S., but cause shifts across retail industries Decline in sales price is main cause of productivity gain in trade, but saving in intermediate inputs add to U.S. advantage Measurement issues suggest upward bias but U.S. advantage remains intact4Changing business models in distributive trade should focus attention on determinants of gross margin ...Sales of goods Gross margin Value added Intermediate inputs Purchases of goods sold Labour Capital5… in particular from perspective of real or volume growthVariables Observed Variables pS qS = S - p S S C qM= q S M=S-C pII Imputed Values Imputed QuantitiesSales Price (p S) Sales Quantity (q S) Sales Value (S) Goods Purchases Value (C) Margin Quantity (qM) Margin Value (M) Intermediate Inputs Price (pII ) Intermediate Inputs Quantity (qII ) Intermediate Inputs Value (II)qII = II on Volume of trade services does not only depend- pII II number of transactions (number of boxes) but also on Value Added of service provided, which M - II VA = is key for success of quality Value (VA) VA Value Added Quantity (q ) QVA = w [q M - (1-w) qII ] failure of industry The quality of products (“inside the box”) must be distinguished from the quality of the retail service 6EXERCISE 1: DOES ICT PRODUCT QUALITY AFFECT EU-US DIFFERENTIAL? Not the share of ICT consumption but the price change of ICT products makes the difference between US and EuropeShare of audio-visual, photographic and information processing equipment in household consumption expenditure, and associated CPI change Price change Share in goods 1995 2003 1995-2003 France 3.5 3.9 -5.8 Germany 3.4 2.4 -3.5 Netherlands 4.9 4.8 -4.8 UK 5.2 5.6 -8.1 US 4.2 4.1 -13.07Excluding core industries that trade ICT products reduces U.S. retail sales volume marginally, but it is more substantial for wholesale tradeContributions of Industries to Real Sales Growth in the U.S., 1987-2002 Real sales 1995-2002 over 19871995 1987-1995 1995-2002 3.1 2.7 0.4 4.6 3.8 0.8 1.5 1.2 0.4Industry name total retail total retail excluding 4431 and 4541 differencetotal wholesale 4.1 4.2 0.1 total wholesale excluding 4234 and 4236 2.9 2.7 -0.2 difference 1.2 1.5 0.3 4234 = Commercial equipment; 4236 = Electrical and electronic goods; 4431 = Electronics and appliance stores; 4541 = Electronic shopping and mail order houses8Exercise 1 on impact of ICT provides upper bound estimate of biasNot the whole of ICT-related trade industries should be considered, but only products which use hedonic price indices European countries also partly use hedonic price indices or alternative quality adjusted method (e.g. high frequency matched model deflators for ICT) … but it may not be confined to ICT: on the whole, U.S. proceeds faster in applying quality adjusted price indices throughout9EXERCISE 2: DOES USE OF SALES INDEX GIVE BIAS TO U.S. ADVANTAGE? Three methods:use of real sales index (common practice, but different degree of detail across countries) use of margin prices (experimental stage: BLS) use of double deflation of sales and purchased of goods soldDouble deflation cancels “inside the box” price change out --> better proxy of real margin in line with services provided Problems:Data requirements high => purchase prices Sensitive to measurement error => margin is residual10Exercise 2a: aggregate double deflation for trade sector as a whole (retail + wholesale)Simplified flow of goods for retail goodsImports Domestic productionWholesale and retail tradeFinal consumptionCalculation of change in purchase price:& iC = w I piI + 1 − w I piD & & pCalculation of change in implict margin price:()& pM1 & & = M p S − 1 − v M pC v([] )11Implicit margin prices - based on double deflation - decline everywhere but with differences across countriesSales, purchases and margin prices for household consumption goods 1987-1995 Sales Purchases of which: Margin prices prices Domestic Imports prices France 1.9 0.7 0.9 -2.0 4.5 Germany 1.7 1.3 1.3 -0.1 2.9 Netherlands 1.0 0.4 0.5 -0.1 2.1 UK 3.3 4.1 3.2 0.9 1.4 US 2.2 2.2 1.7 0.5 2.0 1995-2002 Sales Purchases of which: Margin prices prices Domestic Imports prices France 1.3 0.5 0.7 -0.2 2.9 Germany 0.7 0.9 0.8 0.1 0.0 Netherlands 1.3 1.0 1.0 0.0 1.7 UK 0.4 0.3 0.7 -0.4 0.7 US 0.6 0.9 1.1 -0.2 0.1 12 Note: Germany: 1991-1995 instead of 1987-1995With double deflation US (and UK !) trade sectors retain growth advantage over continental European countries & it upwardly biases Europe rather than U.S.Growth of retail trade gross output, National Accounts versus double deflated prices, 1995-2001 1987-1995 1995-2002 National Double National Double Accounts deflated Accounts deflated 2.3 France -0.1 2.3 -0.4 Germany n.a. 1.1 n.a. 2.4 2.9 Netherlands 2.7 2.6 2.1 UK n.a. n.a. n.a. 6.9 3.3 US 3.4 5.3 5.3 Germany 1987-1995 refers to 1991-199513Exercise 2b: double deflation by retail category puts much higher demand on data$13bln 10% $9bln $22blnImports24% Wholesale 46%Retail: Department storesConsumptionDomestic production20%EXERCISE 3: IS U.S. OUTPUT GROWTH IN TRADE DRIVEN BY MORE OUTPUT OR LESS INPUTS?Variables Observed Variables pS qS = S - p S S C qM= q S M=S-C pII qII = II - pII II VA = M - II QVA = w [q M - (1-w) qII ] Imputed Values Imputed Quantities Sales Price (p S) Sales Quantity (q S) Sales Value (S) Goods Purchases Value (C) Margin Quantity (qM) Margin Value (M) Intermediate Inputs Price (pII ) Intermediate Inputs Quantity (qII ) Intermediate Inputs Value (II) Value Added Value (VA) Value Added Quantity (q VA)15In U.S. retailing about a quarter of acceleration is due to saving in intermediate inputsA. Retail (annul average change, %) 1987-1995 4.5 0.3 4.8 8.3 3.6 1.7 3.1 1.4 2.8 6.7 1995-2002 7.4 0.3 7.7 7.7 0.0 0.7 1.8 1.0 3.9 1995-2002 over 1987-95 3.0 0.0 2.9 -0.6 -3.6 -0.9 -1.3 -0.41 2 3 4 5 6 7 8Quantity of output x O/VA ratio Difference between quantity of sales and output Quantity of sales x O/VA ratio Value of sales x O/VA ratio Price of sales x O/VA ratioQuantity of intermediate inputs x II/VA ratio Value of intermediate inputs x II/VA ratio Price of intermediate inputs x II/VA ratio 9 (=1- 6) Quantity of value added B. Wholesale1 2 3 4 5Quantity of output x O/VA ratio Difference between quantity of sales and output Quantity of sales x O/VA ratio Value of sales x O/VA ratio Price of sales x O/VA ratio1987-1995 6.3 -0.2 6.0 8.2 2.1 2.3 3.4 1.1 3.91995-2002 5.8 0.1 5.8 3.9 -1.9 -0.6 -0.3 0.2 6.61995-2002 over 1987-95 -0.5 0.3 -0.2 -4.3 -4.1 -2.9 -3.7 -0.8 2.76 Quantity of intermediate inputs x II/VA ratio 7 Value of intermediate inputs x II/VA ratio 8 Price of intermediate inputs x II/VA ratio 9 (=1- 6) Quantity of value addedIn wholesale entire productivity gain in U.S. is due to saving of intermediate inputsA. Retail (annul average change, %) 1987-1995 4.5 0.3 4.8 8.3 3.6 1.7 3.1 1.4 2.8 6.7 1995-2002 7.4 0.3 7.7 7.7 0.0 0.7 1.8 1.0 3.9 1995-2002 over 1987-95 3.0 0.0 2.9 -0.6 -3.6 -0.9 -1.3 -0.41 2 3 4 5 6 7 8Quantity of output x O/VA ratio Difference between quantity of sales and output Quantity of sales x O/VA ratio Value of sales x O/VA ratio Price of sales x O/VA ratioQuantity of intermediate inputs x II/VA ratio Value of intermediate inputs x II/VA ratio Price of intermediate inputs x II/VA ratio 9 (=1- 6) Quantity of value added B. Wholesale1 2 3 4 5Quantity of output x O/VA ratio Difference between quantity of sales and output Quantity of sales x O/VA ratio Value of sales x O/VA ratio Price of sales x O/VA ratio1987-1995 6.3 -0.2 6.0 8.2 2.1 2.3 3.4 1.1 3.91995-2002 5.8 0.1 5.8 3.9 -1.9 -0.6 -0.3 0.2 6.61995-2002 over 1987-95 -0.5 0.3 -0.2 -4.3 -4.1 -2.9 -3.7 -0.8 2.76 Quantity of intermediate inputs x II/VA ratio 7 Value of intermediate inputs x II/VA ratio 8 Price of intermediate inputs x II/VA ratio 9 (=1- 6) Quantity of value addedAre intermediate input savings real?Saving on intermediate inputs might be sign of greater dominance of “lean retailing”, competitive pressures and new entries … but we need comparative evidence for European countries to assess the differences Income approach in U.S. might overstate value added growth and therefore understate growth in intermediate inputscross-check with census-based approach suggests such problem in wholesale but not in retail 18Main conclusionsThere is a slight upward bias in U.S. trade output measures due to ICT but much more so in wholesale than in retail services Double deflated estimates of real output margin do not change aggregate retail measure in U.S., but cause shifts across retail industries Decline in sales price is main cause of productivity gain in trade, but saving in intermediate inputs add to U.S. advantage Measurement issues suggest upward bias but U.S. advantage remains intact19。

roel model英语作文Roel Model。

Roel Model is a widely recognized and highly influential concept in the field of business management. It has been widely used by organizations around the world to improve their decision-making processes and enhance their overall performance. In this article, we will explore the key features of the Roel Model and discuss its benefits and limitations.The Roel Model is a decision-making framework that was developed by Roel C. Campos, a renowned business strategist. It is based on the principle that effective decision-making requires a systematic approach that takes into account various factors and their interrelationships. The model consists of four key components: Resources, Objectives, Environment, and Leadership.The first component of the Roel Model is Resources. This refers to the assets, capabilities, and resources available to an organization. It includes financial resources, human resources, technological resources, and physical resources. By analyzing and understanding the available resources, organizations can make informed decisions about resource allocation and utilization.The second component of the Roel Model is Objectives. This involves setting clear and measurable goals that align with the organization's mission and vision. Objectives provide a sense of direction and purpose, and they help organizations prioritize their actions and allocate resources effectively. By defining objectives, organizations can focus their efforts on achieving specific outcomes and measure their progress towards those outcomes.The third component of the Roel Model is Environment. This refers to the external factors that impact an organization's operations and performance. It includes the competitive landscape, market conditions, regulatory environment, and socio-cultural factors. By analyzing the environment, organizations can identify opportunities andthreats, and adjust their strategies accordingly. Understanding the environment is crucial for organizations to adapt and thrive in a rapidly changing business landscape.The fourth component of the Roel Model is Leadership. This involves the role of leaders in guiding and influencing the decision-making process. Effective leadership is essential for aligning the organization's resources, objectives, and environment. Leaders should possess strong analytical skills, strategic thinking abilities, and the ability to inspire and motivate others. They should also foster a culture of innovation and continuous improvement.The Roel Model offers several benefits to organizations. Firstly, it provides a structured and systematic approach to decision-making, which reduces the likelihood of making hasty or biased decisions. Secondly, it helps organizations align their resources and efforts towards achieving their objectives, leading to improved performance and productivity. Thirdly, it enhances the organization's ability to adapt to changing environments and seize opportunities. Lastly, it promotes effective leadership and fosters a culture of accountability and collaboration.However, the Roel Model also has its limitations. Firstly, it requires a significant amount of data and information to be collected and analyzed, which can be time-consuming and resource-intensive. Secondly, it relies on accurate and reliable data, and any inaccuracies or biases in the data can lead to flawed decision-making. Thirdly, it may not be suitable for all types of organizations or decision contexts, as different situations may require different decision-making approaches.In conclusion, the Roel Model is a valuable tool for organizations seeking to improve their decision-making processes and enhance their overall performance. By considering the key components of Resources, Objectives, Environment, and Leadership, organizations can make informed and effective decisions that align with their strategic goals. While the model has its limitations, its benefits outweigh the challenges, making it a popular choice among business leaders and managers worldwide.。

第一章测试1【单选题】(2分) Whichofthefollowingisnotacharacteristicofaperfectcompetitivemarket?A.Itishighlyregulated.B.Price,cost,andqualityinformationareequallydistributed.C.Anearlyinfinitesetofsupplierscompeteagainstoneanother.D.Customershaveaccesstoallrelevantinformationworldwide.2【单选题】(2分)Allofthefollowingwerevisionsofe-commerceexpressedduringtheearlyyearsofe-commerc eexcept:A.disintermediation.B.anearlyperfectinformationmarketspace.C.friction-freecommerce.D.fastfolloweradvantage.3【多选题】(2分)TheReinventionperiodischaracterizedby_________.A.viralmarketingB.disintermediationC.user-generatedcontentD.localeconomy4【单选题】(2分)Theearlyyearsofe-commerceareconsidered:A.aneconomist'sdreamcometrue,whereforabrieftime,consumershadaccesstoallrelevantmarketinformationa ndtransactioncostsplummeted.B. astunningtechnologicalsuccessastheInternetandtheWebincreasedfromafewthousandtobillionsofe-comm ercetransactionsperyear.C.adramaticbusinesssuccessas85%ofdot-comsformedsince1995becameflourishingbusinesses.D. themostpromisingtimeinhistoryforthesuccessfulimplementationoffirstmoveradvantages.5【单选题】(2分) Whichofthefollowingreferstoanydisparityinrelevantmarketinformationamongpartiesinatr ansaction?A.imperfectcompetitionB.dynamicpricingC.informationasymmetryD.unfaircompetitiveadvantage6【单选题】(2分) Whichofthefollowingstatementsistrueaboutthetraditionaltradeoffbetweentherichnessan dreachofamarketingmessagepriortothedevelopmentoftheWeb?A.Thesmallertheaudiencereached,thelessrichthemessage.B.Marketingmessageshadlittlerichness.C.Richnesswasunrelatedtoreach.D.Thelargertheaudiencereached,thelessrichthemessage.7【单选题】(2分)Whichofthefollowingisnotauniquefeatureofe-commercetechnology?A.socialtechnologyB.informationasymmetryC.interactivityD.richness8【单选题】(2分)E-commerceisavailablejustabouteverywhereandanytime.Thisisknownas:A.ubiquity.B.reach.C.richness.D.informationdensity.9【判断题】(2分) Interactivitythatenablesproductcustomizationaltersindustrystructurebydecreasingthethr eatofsubstitutes.A.对B.错10【判断题】(2分) Costtransparencyreferstotheeasewithwhichconsumerscanfindoutthevarietyofpricesina marketA.对B.错11【多选题】(2分)Theuniquefeaturesofe-commercetechnologyinclude:A.UbiquityB.SpecificstandardsC.GlobalReachD.Richness12【多选题】(2分)Thegrowthofsociale-commerceisdrivenby_________.A.sharingofproducts,services,andcontentonsocialaccountsB.networknotificationC.integratedsocialcommercetoolsD.socialsign-on13【单选题】(2分) Whichofthefollowingisaleadingplatformforsociale-commerce?A.AmazonB.WikipediaC.FacebookD.eBay14【单选题】(2分)Whichtypeofe-commercegeneratedthelargestrevenue？A.M-commerceB.B2CC.B2BD.C2C15【多选题】(2分)Economistsearlyvisionsaboute-commerceinclude_________A.ConsumersarenotpricesensitiveB.InformationasymmetrywouldbegreatlyreducedC.anearlyperfectcompetitiveD.disintermediation第二章测试1【判断题】(2分)Ane-commercebusinessmodelaimstouseandleveragetheuniquequalitiesoftheInternet,th eWeb,andthemobileplatform.A.对B.错2【单选题】(2分) Whichofthefollowingisanexampleoftheaffiliaterevenuemodel?A.JDB.QQmusicC.eBayD.Amazon3【单选题】(2分) Assumeyouareanalyzingthemarketopportunityofadistancelearningcompany,Learnmore. com,thatcreateseducationcoursesdeliveredovertheInternetfortheFortune1000corporate market.Assumethattheoverallsizeofthedistancelearningmarketis$25billion.Theoverallm arketcanbebrokendownintothreemajormarketsegments:Corporate,College,andElement ary/HighSchool,eachofwhichaccountsforathirdofthemarket.WithintheCorporatemarket,t herearetwomarketniches:Fortune1000,whichaccountsfor60%ofthemarket,andallothers, whichtogetheraccountfor40%'srealisticmarketoppor tunity,approximately?A.$5billionB.$6.6billionC.$165billionD.$25billion4【单选题】(2分) AllofthefollowingcanbeconsideredadirectorindirectcompetitorofAmazonexcept:A.Priceline.B.eBay.C.Apple'siTunesStore.D.Walmart.5【单选题】(2分) Allofthefollowingmayleadtoacompetitiveadvantageexcept:A.fewerproducts.B.lessexpensivesuppliers.C.betteremployees.D.superiorproducts.6【判断题】(2分) Thesinglemostimportantelementofabusinessmodelisthemanagementteamresponsiblefo rmakingthemodelwork.A.错B.对7【判断题】(2分)Cooperationwithkeyopinionleaders(KOL)hasbecomethemostpopularmarketingstrategyf orsocialmediaplatformsandadvertisersinChina.A.错B.对8【单选题】(2分) Whichofthefollowingisanexampleofacompanyusingthecontentprovidermodel?A.DellB.eBayC.NetflixD.Priceline9【单选题】(2分) Whichofthefollowingisnotavariationofthee-tailerbusinessmodel?A.bricks-and-clicksB.virtualmerchantC.manufacturer-directD.marketcreator10【多选题】(2分) Whichofthefollowingbelongtomajortypesofe-tailers?A.virtualmerchantB.bricks-and-clicksC.CommunityprovidersD.manufacturer-direct11【多选题】(2分)Serviceproviderstrade_________forrevenue.A.CapabilitiesB.KnowledgeC.ExpertiseD.Products12【判断题】(2分)On-demandservicecompaniesarecharacterizedbythefreesharingofresourcesbetweenth ecompanyandconsumers.A.错B.对13【单选题】(2分)A______isadigitalnetworkdesignedtocoordinatetheflowofcommunicationsamongfirmse ngagedinbusinesstogether.A.industryconsortiaB.privateindustrialnetworkC.exchangeD.e-distributor14【多选题】(2分) Whichofthefollowingcompaniesareexamplesofindustryconsortia?A.GraingerB.BoschC.AribaD.Schaeffler15【多选题】(2分)WhichofthefollowingaretrueforWalmart’snetwork?A.monitorthesalesoftheirgoodsB.monitortheactualinventoryleveloftheirgoodsC.ItisoneofthelargestprivateindustrialnetworksintheworldD.Noneoftheabove第三章测试1【判断题】(2分) AroughlyequalpercentageofmenandwomenusetheInternettoday.A.对B.错2【多选题】(2分)Consumerbehavioristhestudyofhowindividuals,groups,andorganizations_______goods, services,ideas,orexperiencestosatisfytheirneedsandwants.A.BuyB.UseC.SelectD.Disposeof3【判断题】(2分)ChineseSingles’DayshoppingfestivalisasuccessfulapplicationofFOMO.A.错B.对4【多选题】(2分)Aconsumer’sbuyingbehaviorisinfluencedbyindependentdemographicvariableswhichincl ude__________.A.CulturalfactorsB.MarketingcampaignsC.SocialfactorsD.Psychologicalfactors5【单选题】(2分)______occurswhenacompetitorclicksonsearchengineresultsandads,forcingtheadvertis ertopayfortheclickeventhoughtheclickisnotjustified.A.BiddingprocessB.LinkfarmC.AdBlockingD.Clickfraud6【多选题】(2分)Howcanabusinessoptimizeitswebsite?A.updatecontentfrequentlyB.makeahighbidintheSEMauctionC.designthesitetobeeasilyrecognizedandreadbythesearchengineD.CarefullychoosekeywordsusedontheWebpages7【多选题】(2分)Both________and_________arethemainthingsthatdetermineyourperformanceintheauc tion.A.TopicofyourwebsiteB.ThemaximumCPCC.QualityscoreD.Brand8【判断题】(2分)Organicsearchresultsdependsonabiasedalgorithm.A.对B.错9【判断题】(2分)AmazonAssociatesProgramisaprivateindustrialnetworks.A.错B.对10【判断题】(2分)Contextadvertisingisbasedonapay-per-clickbasis.A.错B.对11【单选题】(2分) Advertisingnetworksallowadvertiserstargetspecificcustomersbasedontheprofileoftheau dienceviewingthecontent.Thisiscalled__________.A.contextadvertisingB.personalizedadvertisingC.viraladvertisingD.seachengineoptimization12【单选题】(2分) WhichofthefollowingisNOToneofadvertisingnetworks’functions?A.Designadvertisement.B.Handlethemoneyinvolved.C.Createanetworkofbothpublishersandadvertisersandplacerelevant/personalizedadsonpublishers.D.Collectandsharedatawithbusinesses.13【判断题】(2分) RichMediaAdsarealsotheleasteffectiveandthelowestcostformofonlinemarketing.A.对B.错14【判断题】(2分) RichMediaAdsarefarmoreeffectivethansimplebannerads.A.对B.错15【判断题】(2分)Comparedwithotheradformats,sponsorshipsarenotinanovertlycommercialmanner.A.错B.对第四章测试1【多选题】(2分)Whichofthefollowingaresocialmarketingplayers?A.TikTok(抖音)B.TaobaoC.PinterestD.RED（小红书）2【判断题】(2分) Socialmarketingstrengthensthebrandanddrivessalesbyhavingconversationwithcustome rs.A.对B.错3【多选题】(2分)Whichofthefollowingistheonlineversionofword-of-mouthadvertising?A.LocalmarketingB.SearchenginemarketingC.MobilemarketingD.Viralmarketing4【多选题】(2分)Themovie NeZha appliedthefollowingviralmarketingstrategies:______.A.ManystarsalsoforwardedpostsaboutthemovieandevencosplayedNeZha.B.therearenumerousmomentsinthemoviethatweredeeplyresonant.C.GoodqualityofthemovieledtopositivecommentsonDoubanD.createdpostsonWeibowithkeyswordssuchas“国漫崛起”，“东方神话IP”whicharousedaudience’spatriotics entiment.5【单选题】(2分)________referstoamoreorlessstablegroupoffanswhoareengagedandcommunicatingwit honeanotheroverasubstantialperiodoftime.A.fanacquisitionB.communityC.amplificationD.barndstrength6【多选题】(2分) Marketershaveanumberoftacticstobuildcommunities,includingA.insideinformationonnewproductsB.freegiftsforbringinginnewmembers.C.pricediscountforloyaltyD.guidanceandrecommendationsforcustomers7【单选题】(2分) Whichofthefollowingisthemostpopularuseformobiledevices?A.performingtasks,suchasfinancesB.shoppingC.socializingD.entertainment8【单选题】(2分)Whichofthefollowingisthesecond-mostpopularmobilemarketingformat?A.mobilemessagingB.displayadvertisingC.searchengineadvertisingD.videoadvertising9【单选题】(2分) Whichofthefollowingaccountsforthemostmobileadspending?A.SMStextmessagesB.searchengineadvertisingC.displayadsD.videoads10【判断题】(2分) Chinesepeopleprimarilyusemobiledevicesforshoppingorbuying.A.对B.错11【单选题】(2分) Whichofthefollowingisthemostpopularmobilemarketingformat?A.displayadvertisingB.searchengineadvertisingC.videoadvertisingD.mobilemessaging12【判断题】(2分) Displayadvertisinghasthelargestsizeofmobilemarketingexpenditures.A.对B.错13【单选题】(2分)Friend-finderservices答案thequestionof__________.A.Whereareyou?Where’sthecrowd?B.Whereismychild?C.What'sthebestrestaurantintheneighborhood?D.HowamIdoinginjogging?14【判断题】(2分) Localmarketingisbasedonthemarketingtheory—demographicsegmentation.A.错B.对15【多选题】(2分) TheGPSreceiversinthesmartphonesalongwithothertechniques,meantthatauser’slocatio ncouldbefairlywellknownby_________.A.MarketersB.serviceprovidersC.telecomcarriersD.cellphonemanufacturers第五章测试1【单选题】(2分) Virtualmerchantsfacepotentiallylargecostsforallofthefollowingexcept:A.buildingandmaintainingawebsite.B.buildinganorderfulfillmentinfrastructure.C.developingabrandname.D.buildingandmaintainingphysicalstores.2【判断题】(2分)Manufacturer-directfirmsaresingle-channelmanufacturers.A.对B.错3【多选题】(2分)Manufacturer-directmodelhasfollowingadvantages___________.A.createchannelconflictsB. eliminatetheneedtosupportawholesaleandretailsalesnetwork,C.givethefirmcompletecontroloveritscustomerdatabase.D.simplifythecompany’soperations4【多选题】(2分)__________haveanetworkofphysicalstoresastheirprimaryretailchannel,butalsohaveonli neofferings.A.virtualmerchantsB.bricks-and-clickscompaniesC.manufacture-directcompaniesD.omini-channelmerchants5【多选题】(2分) Whichofthefollowingaretrueforbigdataandpowerfulanalyticsprograms?A.recommendproductsbeforetheyaskB.IntendtomakeconsumersallintobigspendersC.makepossiblepredictivemarketingD.tosendpersonalizedmessagestocustomers6【判断题】(2分) StitchFixonlyreliesonbigdatatoclothingitemsandaccessoriesforcusomers.A.错B.对7【判断题】(2分) MassiveandwellservedSMEmarketisonedrivingforceofFintechinChina.A.对B.错8【判断题】(2分)Antchecklater(花呗)givescreditratingstousersbyleveragingusers’merchantdataontheplat form.A.错B.对9【判断题】(2分)Payment/remittanceshasthelargestsizeofFintechservices.A.错B.对10【判断题】(2分)Antchecklater(花呗)isavirtualcreditcardtypeofproductthatfacilitatescreditpayments.A.对B.错11【单选题】(2分)Purchaseofalltravelelementsare_________offeredbyonlinetravelsites.A.commerceB.customerserviceC.contentD.community12【多选题】(2分)Consumers’travelrequirementsinclude_________.A.paymentB.comparisonshoppingC.researchingD.planningE.reserving13【单选题】(2分) Whichofthefollowingisnotamajortrendintheonlinerecruitmentservicesindustry?A.socialrecruitingB.MillennialsandGenXprimarilyusemobiledevicestosearchforjobsC.disintermediationD.useofbigdatatechnologiesinthehiringprocess14【判断题】(2分)“Passivetalent”referstopeoplewhoarenotactivelylookingforanewjob.A.错B.对15【判断题】(2分) Sharingeconomybusinessmodelhasnonegativeoutcomes.A.对B.错第六章测试1【单选题】(2分)WhatdoesALaCartemean?A.payandacquireallthecontentB.payforwhatyouuseC.allyoucaneatD. basicservicesarefreebutmoreadvancedfeaturesmustbepaidfor.2【多选题】(2分) WhichoneistrueforFreemium?A.payandacquireallthecontentB.moreadvancedfeaturesmustbepaidfor.C.payforwhatyouuseD.basicservicesareprovidedfreeofcharge3【判断题】(2分)There’snothingcontradictoryaboutallthreemodels:subscription,ALaCarteandfreemium.A.对B.错4【单选题】(2分)__________referstotheconvergenceofdesign,production,anddistributionofthecontent.A.contentconvergenceB.mediaconvergenceC.technologicalconvergenceD.industrystructureconvergence5【单选题】(2分) Whichofthefollowingisnotanexampleofindustrystructureconvergence?A.Apple’sdevelopmentoftheiPadB.Amazon’screationofAmazonBooksPublishingC.AT&T’sacquisitionofTimeWarnerD.Verizon’sacquisitionofYahoo6【单选题】(2分) WhichofthefollowingtypesofonlinecontentisconsumedbythelowestpercentageofInternet users?A.e-booksB.digitalaudioC.videoD.magazines7【单选题】(2分) Whichofthefollowingisnotanadvantagethatpuredigitalnewssiteshaveoverprintnewspape rs?A.Theycantakeadvantageofnewertechnologiesforproducingthenews.B.Theyhavealowercoststructure.C.Theyofferhigherqualityjournalism.D. Theycancreatenewworkflowsandbusinessprocessesthataremoretimelyandefficient.8【多选题】(2分)WhichofthefollowingaretrueforPrint-centricperiod?A.Thetechnologyplatformwasthedesktoporlaptopplatform.B.Thetoppriorityisproducingthemostengaging,continuallyupdateddigitaleditionC.TherewerenochanceforthemtohaveanyinteractionsD.Newspapersadoptedmultimediaelementssuchasvideo,addedmoreinteractiveelementslikecrosswordpuzzl esandcontests9【判断题】(2分)“Contentisking”meansowninghigh-qualitycontentprovidesagoldenopportunitytogenerate revenue.A.对B.错10【判断题】(2分)Inthetraditionalprocess,pricesdeterminedlargelybytheauthor.A.对B.错11【多选题】(2分)Amazon’sdigitalecosystemsbroughtunprecedentedchangetoonlinebookintermsof_____ ______.A.MarketingB.ContentC.PublishingD.AuthorshipE.Readership12【单选题】(2分)________wassuedbytheJusticeDepartmentforviolatingantitrustlawsinconnectionwithe-books.A.AmazonB.Barnes&NobleC.AppleD.Google13【单选题】(2分)WhichofthefollowingstatementsisnottrueaboutOTT?A.TouseOTTservices,consumersmustpurchaseabundleofchannels.B.OTTentertainmentservicesareathreattocable/satellitetelevisiondeliverysystems.C.OTTservicesincludetheabilitytodownloadcontentafterpurchaseorrental,aswellassubscriptionstreamingan d“live”TVservic es.D.OTTenablesautomaticadvertisingtransactions.14【判断题】(2分) Streaminghasreplaceddownloadingasthepreferredconsumerviewingplatformforhomeen tertainmentcontent.A.对B.错15【多选题】(2分)WhichofthefollowingaretrueforOTTadvertising?A.ItallowstheadvertiserstoreachtherightaudienceattherighttimeB.Commercialsarebasedonherlocation,interestanddemographicsC.ItputsmoreattentiononthecontentD.OTTadvertisingisoftenboughtandsoldprogrammatically第七章测试1【多选题】(2分) Socialnetworksattractpeoplewithsharedinterests,suchas________.A.sportsB.vacationsC.hobbiesD.religion2【单选题】(2分)Doubanisanexampleofa(n)________socialnetwork.A.affinity-basedB.practice-basedC.generalD.interest-based3【判断题】(2分)WithAPItechnology,Facebookopensupitsplatformandgivesotherappsorwebsitestheacce sstoitsdata.A.错B.对4【多选题】(2分)Whichofthefollowingaretrueforgeneralcommunity?A.Facebookisworld’smostpopularonlinesocialnetworkwiththelargestnumberofmonthlyactiveusers.B.Typicalexamplesincludefacebook,QQzone,Douban.C. Thebusinessmodelofgeneralcommunitiesistypicallyadvertisingsupportedbysellinggoods.D.Thepurposeofthegeneralcommunityistoattractlargeenoughaudience.5【单选题】(2分)Awebsitedesignedaroundacommunityofmemberswhoself-identifywithademographicorg eographiccategoryisclassifiedasa(n):A.sponsoredcommunity.B.interest-basedsocialnetwork.C.practicenetwork.D.affinitycommunity.6【单选题】(2分)爸妈网is____________designedtoattractparentsbyofferingdiscussionandservicesthatf ocusonEnglisheducationforearlychildhood.A.PracticenetworkB.Interest-basedsocialnetworkC.GeneralcommunityD.Affinitycommunity7【判断题】(2分)Sponsoredcommunitiesareallnon-profitonlinecommunitiesforthepurposeofpursuingorga nizationalgoals.A.对B.错8【单选题】(2分) Whichofthefollowingistheexampleofsponsoredcommunity?A.B.水木社区C.ResearchGateD.Douban9【单选题】(2分)ResearchGateisa__________forscientistsandresearcherstosharepapers,askand答案q uestions,andfindcollaborators.A.PracticenetworkB.Interest-basedsocialnetworkC.AffinitycommunityD.Generalcommunity10【多选题】(2分)Whichofthefollowingaregoalsofsponsoredcommunities?A.TodevelopinternalsocialnetworksB.ToshareknowledgeC.TosellgoodsD.Toincreasetheinformationavailabletoitsmembers11【判断题】(2分) SocialmediainfluencerisalsocalledInternetcelebrity.A.对B.错12【多选题】(2分) Inwhatwayscaninfluencersturnthetrafficintorealcash?A.showingadvertisementsB.postingviralvideosonvideohostingcommunitiesC.directingtheirfanstoonlineshopsD.receivingvirtualgifts13【多选题】(2分) WhichofthefollowingaretrueforthesocialmediainfluencerLiJiaqi(李佳琦)?A.Themediahasdubbedhimthe"LipstickKing".B.Hehasnotcooperatedwithcelebrities.C.HeisaChinesefoodandcountry-lifeblogger.D.Hegivesasubjectivecommentontheproducts,notjustbragging.Hisfansreallyappreciatehissincerity.14【判断题】(2分)Socialnetworksalsopresentenormousrisksforindividuals,communities,firms,andevenfors ocietyasawhole.A.错B.对15【多选题】(2分)WhichofthefollowingaretrueforFacebook’sCambridgeAnalyticadatascandal?A.Facebookpaidarecord-breaking5billiondollarsfine,byfarthelargestpenaltyeverimposedonacompanyforviol atingconsumers'privacyrights.B.FacebookhadeverdemandedthattheydeleteallofthedatathattheyhadobtainedinviolationofFacebook'srules.C.CambridgeAnalyticawasabletogetaccesstoinformationofasmanyas50millionpeople.D. CambridgeAnalyticaonlycollectedthepersonalinformationofpeoplewhoagreedtotakethesurvey.第八章测试1【单选题】(2分)WhatarethebenefitsforB2BE-commerceA.VisibilitycanbefullyrealizedB.IncreaseproductionflexibilityC.DecreaseproductcycletimeD.Increaseopportunitiesforcollaboratingwithsuppliersanddistributors2【多选题】(2分)WhichofthefollowingaretrueforB2BE-commerce?A.CreategreaterpricetransparencyB.LowersearchcostsforbuyersC.manyFortune1000supplychainsarerisky,vulnerable,andsociallyandenvironmentallyunsustainableD.Lowertransactioncosts3【单选题】(2分)________purchasinginvolvesthepurchaseofgoodsbasedonimmediateneedsinlargermar ketplacesthatinvolvemanysuppliers.A.VerticalB.SpotC.BulkD.Indirect4【判断题】(2分)MROgoodsarealsoknownasdirectgoods.A.错。

毕业论文文献综述毕业论文题目财务预警模型在我国上市公司的适用性比较研究文献综述题目财务危机预警模型国内外研究现状学院会计学院专业会计学姓名金琳班级08144911学号08144916指导教师王方明财务危机预警模型国内外研究现状随着我国资本市场的不断发展与完善，对上市公司财务危机及其预警的研究越来越引起重视。

财务危机及其预警研究也不再仅仅是一个学术问题，更成为影响我国上市公司及资本市场发展的重要因素。

因此对财务危机预警模型研究具有现实意义。

本文论述了国内外的研究现状，分别按照模型的发展历史进行阐述。

一、国外研究现状早在20世纪30年代西方学者就陆续开始研究企业财务危机预警问题，并提出了各种不同的财务危机预警方法和模型，一般将其分为定性分析和定量分析。

定性分析方法主要包括标准化调查法、四阶段症状分析法、流程图分析法、管理评分法等。

其中四阶段症状分析法将企业的财务危机划分为四阶段，即财务危机的潜伏期、发作期、恶化期、实现期。

由美国的Argenti(1977)提出的管理评分法也得到了较为广泛的应用，他提出财务危机成因的模型，并强调管理层在其中的作用。

其模型总分值为一百分，得分一旦大于25分，公司就有可能陷入财务危机，18-25分为灰色区域[1]。

由于定性分析主观性过强，因此国外很多学者开始转向定量分析方法和模型的研究，陆续地提出很多企业财务危机预警定量分析模型，主要有一元判定模型、多元线性判定模型、多元逻辑模型、人工神经网络模型和多元概率比回归模型。

1、一元判别法。

一元判别法又称为单变量财务危机预警模型，是用单个财务变量对企业的财务状况进行检验。

FitZpatriCk(1932)最早开展单变量财务危机预警模型研究，结果表明预测准确率最高的是净利润/股东权益和股东权益/负债两个财务指标[2]。

Beaver(1966)发现现金流量/债务总额，资产收益率、资产负债率三个财务指标的预测准确率是最高的，现金流量/债务总额在企业破产前一年预测准确率高达87%，资产收益率的准确率达到了88%，而且还发现，越临近破产日，误判的概率就越低[3]。

Summer Course2014Decision ModelingCourse Outline1InstructorGinger Y.Ke,PhDAssistant ProfessorFaculty of Business AdministrationMemorial University of NewfoundlandSt.John’s,Newfoundland and Labrador,Canada2Course OverviewDecision modeling addresses quantitative managerial problems through a paradigm of(1)prob-lem analysis and identification,(2)model formulation,(3)solution and sensitivity analysis,and (4)implementation.Focusing on thefirst three phases of the paradigm,we consider some of the elementary modeling approaches of thisfield.3References(1)B.Render,R.Stair,N.Balakishnan,and B.Smith,Managerial Decision Modeling withSpreadsheets,2nd Canadian Edition,Pearson Canada,Toronto,2010.(ISBN:978-0-13-208013-2)(2)D.M.Tulett.Memorial University of Newfoundland Business2400Decision Modeling On-Line Readings.St.John’s,2014.4Course EvaluationQuizQuiz1(Topics1,2,3,4)10%Quiz2(Topics5,6,7)10%Project20%Exam60%Total100%4.1Quiz•Two quizzes will be held during lectures(after the completion of corresponding topics).The length will be a hour.•The format of both quizzes will be True or False and Multiple Choice questions.4.2Project4.2.1PurposeThe project requires two things which are not easily integrated into the quizzes or thefinal exam.1.The data for the project needs to be obtained by the user.2.The project needs to be solved in Excel by using the Solver.4.2.2BackgroundUntil recently,John and Janet thought of food and drink in terms of meat,fried food such as onion rings,desserts,and alcohol.Then,a trip to their physician revealed that both are overweight and have dangerous levels of sugar in their blood.Their physician has advised them to stop drinking alcohol,and eliminate all added sugars,and to eat a healthy diet.They want to follow this advice,cooking at home rather than eating out in restaurants.4.2.3What You Need to Do1.Read and understand the“diet problem”(1or2examples will be discussed during lectures).2.Obtain data from a certain health related source,nutritional information from other sources(e.g.the side of a cereal box),and prices from stores.This project should include at least20food/drinks,and at least12nutritional requirements.3.Make a cost minimization model in algebraic form.4.From the algebraic model,make a spreadsheet model.5.Solve it in the Excel Solver to obtain a solution.6.Submit two things as follows.Both items must be submitted on or before5pm,Aug.28.(a)A written description(less than)of how you went about this project(citing sources whereappropriate),the mathematical solution,and the solution that you would recommend to John and Janet.This is to be submitted in person to your instructor or the TA.(b)The Excelfile,submitted through QQ.7.NOTE:The project is to be done in groups with4-5members each.Each group will makeone joint submission and all students in the group will received the same mark unless certain situations are specified by the group.Additional information about group evaluation can be found in the corresponding section below.4.2.4Project EvaluationBecause no two teams are likely to use both the same foods and the same set of nutritional requirements,it is likely that no two groups will obtain the same solution.Hence,the marker is not looking for a particularfinancialfigure,but instead is interested in knowing how you arrived at your particular solution.Obviously,we expect that everything listed in the previous section will have been done.The quality of your solution,and the clarity of your writing,including the logicalflow of the write-up will be factors in determining your mark.4.3Exam•The exam will be held during the last lecture.The length is3hours.•The exam will allow one-page double-sided(A4)cheat sheet that prepared by yourself.The preparation procedure of this sheet will be a good review of the course contents.The sheet has to be submitted together with the exam papers.•The only electronic device approved for use during an examination is a calculator.Cal-culators must adhere to the following guidelines:1)must be non-programmable,2)must not have the ability to store text,3)must not have graphing capability,and4)must be non-communicating.•A paper dictionary may be used in the exam.Electronic translators are not permitted. 5Group work evaluation•As mentioned previously,each student group will make a joint submission.Each member of the group will receive the same mark unless a peer evaluation form is submitted.•If a group member is not making an appropriate contribution,please discuss the problem with this individual as soon as plaints should be supported by the docu-mentation(e.g.written records of scheduled group meetings missed,commitments not honored).•Under such a circumstance,pleasefill a peer evaluation form that has been signed by every member of the group.This form will be provided on the QQ course group website and should be handed in no later than the original submission(the project).•If a peer evaluation form is submitted,individual grade will be assigned to each group member based on the evaluation.•If the problem cannot be resolved within the group,students should consult with the instructor.Adjustments to individuals grades may be made at the discretion of the instructor.6Course Schedule1#Date Subject Note#Date Subject Note1Aug18Topics1&26Aug25Topics6&72Aug19Topic37Aug26Topics73Aug20Topics3&48Aug27Topic8Quiz24Aug21Topics4&59Aug28Topic8Project due 5Aug22Topics5&6Quiz110Aug29-ExamList of Topics:Topic1-IntroductionTopic2-Elementary LPTopic3-LP ApplicationsTopic4-Sensitivity AnalysisTopic5-Network ModelsTopic6-IP ModelsTopic7-Goal Programming ModelsTopic8-Decision Analysis1The schedule is subjected to minor adjustments if necessary.。

VSVPE +R –Q !更少消费表示集中和有限的需求更少消费更多消费表示需求最大化更多消费产品和服务必须有感受的诉求，如乐趣和道德感性需求理想需求产品和服务必须满足衡量标准，如质量、价格PeopleValues寻求永恒和谐的事物，淡泊的消费欲望寻求生活乐趣，更多的生活体验节省花费，经济上的节省导向寻求绩效和效率，理性的物质选择–+ER'R n e v er 'n e v e b e u r a b l e 'b e r a b l e ' m o r e o d q u a l i t y 'm o r e d q u a l i t y ''A p r i f i t f u l f i l 'A p i f i t f u l 'W h e n b u t o t h e d i 'W h e n b t o t h e d 'I t i s r e p a i ri n g'I t i r e p a i r i n g 16个国家中70000个消费群德国–英国–巴西–墨西哥–中国–日本定性和定量分析因子分析典型消费陈述85 标准陈述多纬分析•团对精神•彼此关爱在电信行业的体现行业领先、业务全面实力雄厚、历史悠久有口皆碑、有信誉的在电信行业的体现技术突破与整合应用创新在电信行业的体现•定制化服务（我的互联星空•一对一、大客户专区在电信行业的体现•网络游戏（动作类）在电信行业的体现•生活品质的提升宽带、无线产品所带来的现代在电信行业的体现•无线空间•移动办公在电信行业的体现•网上社区•移动QQ在电信行业的体现最便宜的话机，二手机The basic orientations简约型价值区传统感性价值区现代感性价值区高尚Fair Fair激情Passion Passion Nature Nature刺激/乐趣Thrill&Fun Thrill&Fun自然• 团对精神 • 彼此关爱 • 志趣相投古典Classic Classic进取AspirationTranquil Tranquil安逸自由自在Carefree Carefree简约Purism Purism归属感Clanning Clanning活力Vitality Vitality新潮/酷New&Cool New&Cool• 活力 • 动感多变 • 积极乐观 • 身心健康 • 亲切热情 • 中肯周到 • 诚挚的 • 想客户所想 • 精准严谨 • 井井有条 • 质量稳定 • 一丝不苟CN服务• 精明 • 货比三家 • 热衷于讨 价还价Service Service创新/科技24/7 Protech 24/7 Protech明智购物Smart Shopping Smart Shopping质量Quality QualityPersonal Efficiency Personal Efficiency个人效率可靠 全面成本Total Cost Total Cost Proven Proven定制化Customized Customized价格敏感区Source: Roland Berger - Strategic Brand Development Group传统理性价值区现代理性价值区21Paul是一个现代理性价值取向较为明显的人，他追求新事物、希望获得尊重 和认可，消费意识较强，但并不太追求时尚和享乐E-E激情 自然 古典 自由自在 归属感 活力 服务E+刺激/乐趣 蓝色代表消费者在这些元 蓝色代表消费者在这些元 素上需求较高 素上需求较高Legend保罗 Paul(高尚)ICP – Individual Consumer Profile (ID 0335)Level 1Level 2 不同意 安逸进取红色表示消费者在这些元 红色表示消费者在这些元 素上需求较低 素上需求较低简约新潮/酷创新/科技Level 1 同意Fair ERE0 R0 E+ R+Consumer value 简约型价值区 价格敏感区 传统感性价值区 传统理性价值区 现代感性价值区 现代理性价值区 Midfield area, high degree of consensus Pro-Value Anti-Value, Demarcation• 25 岁 • 男性 • 单身 • 中等收入 • 中等教育 • 在职 • 4口之家明智购物质量 个人效率 可靠全面成本定制化R-RR+CN!Warning, too weak, should be more intense Warning, too much, should be less intense Conflict with other valueSource: Roland Berger - Strategic Brand Development Group, TNS Data (Germany, March 2002, n=1.500, Population 14-65 yrs., CATI)22如何利用工具来帮助我们进行市场细分 Advanced consumer segmentation24从消费者的价值取向出发我们采用多维聚类的方法将中国消费者划分为 8类消费群都市青年 都市青年Self-centered Self-centered奢华的成功人士 奢华的成功人士ETraditional Maximalists Traditional Maximalists E工薪阶层 工薪阶层节俭主义者 节俭主义者EConformists ConformistsMinimalists MinimalistsE–+–+–+–+29%R14%R13%R12%R及时行乐型 及时行乐型Emotionalists EmotionalistsE专业人士 专业人士Modern Performers Modern Performers E小资型 小资型Progressive Maximalists Progressive Maximalists E知识分子 知识分子Traditionalists TraditionalistsE–+–+–+–+9%R8%R7%R6%R 25Source: Roland Berger - Strategic Brand Development Group (China, Dec.2003, n=3.500, Population Tier 1-2 Citys 14-70 yrs., CATI)Chinese Archetypes - preliminarySEL Chinese Archetype 2003 Study Tier 1-2 Cities TMA CONF MIN MPE PMA TRA EMO1)Share in Population of Tier 1-2 Cities-1--2--3--4--6--7--8--5-29%Self-centered14%13%12%8%7%6%9%Share in Population of Tier 1-5 Cities-6--5--4--7--3--8--1--2-9%10%11%8%13%8%21%Traditionalists14%Chinese Archetype 2001 Study Tier 1-5 Cities SEL TMA CONF MIN MPE PMA TRA DIS2)26Source: Roland Berger - Strategic Brand Development Group, Gallup/ Data (China, Nov2001/Dec2003, n=5.600/3.800, Population yrs., CATI)对于特定市场，我们可以分析该市场的不同类型消费群的结构比例就具体人群的消费群结构Tsd. Persons1.889467女性 14-19E100%276–..+1,889Mio. Persons176Share in sample13824.7%R76 14.6% 9.3% 7.3% 4.0%453634 1.8%28 1.5%Advent2.4%1.9%6.5%OtherWomen 14-19自我型 SELRationalNon- Maximal Emotional Minimal Traditional Altruist conformSource: Roland Berger - Strategic Brand Development Group, Ipsos Data (UK, Aug.2001, n=1.500, Population 12-65 yrs., CATI)27并针对不同细分市场的市场规模和消费能力来判别适合的目标市场Decreasing Economic Relevance市场细分名称 规模 消费能力 对于家电的消 费倾向 排序Rationalists RATMaximalists Self-centered Non-conform MAX SEL NONEmotional EMOAltruists ALTTraditionalists Minimalists TRA MIN1.18,5% 18,5%3.13,9% 13,9%5.9,3% 9,3%8.7,9% 7,9%4.12,5% 12,5%2.16,5% 16,5%7.8,4% 8,4%6.8,8% 8,8%2. 2.1. 3.6. 1.4. 4.3. 5.7. 7.5. 8.8. 6.1.2.3.4.5.6.7.8.1.) in Consumer ElectronicsSource: Roland Berger - Strategic Brand Development Group, TNS Data (Germany, March 2002, n=1.500, Population 14-65 yrs., CATI)28The 'Perception' of brands from the consumer's perspective29The difference between the aggregated value systems of brand users and non-users reveals the perceived value system of a brandE-EPassion Vitality Classic ClanningE+Thrill&Fun Consumer values that the users of Consumer values that the users of the brand most often agree with – the brand most often agree with – i.e. the most recognized value i.e. the most recognized value proposition of the brand proposition of the brandLegendProgressive hedonism patternNikeAVP - Actual Value Perception (415 vs. 1.085; zmax=12.7) maxUser Non-UserFair NatureCarefree New&CoolEPurismTranquilValue pole Value pole E = Emotional R = Rational + = More - = Less Value clusterService Smart ShoppingIntensity Precision Level 1Level 3Level 224/7 ProtechFair Consumer value, value proposition Midfield area, high degree of consensus Pro-Value Anti-Value, demarcation Warning, too much, should be less intense Warning, too weak, should be more intensePersonal Efficiency ProvenTotal Cost CustomizedR-RR+!Conflict with other valueSource: Roland Berger - Strategic Brand Development Group, Emnid Data (Germany, March 2002, n=1.500, Population 14-65 yrs., CATI)30E+E-R+ R-E R SmartShopping Total Cost Nature Fair Purism Tranquil Thrill&Fun New&Cool Carefree Vitality Clanning Passion Classic Customized PersonalEfficiency 24/7Protech Service Precision Proven Anti-minimalism pattern Anti-traditional pattern Consumer values that the users of disagree with i.e. 'aversions' that the brand might Consumer values that the users of disagree withi.e. 'aversions' that the brand might Consumer values that the users ofthe brand most often Consumer values that the users of the brand most often Progressivehedonism patternE +–R E +–R E+–RE +–R E +–R E+–RE +–R E +–RE+–RE+–RE+–RE+–R52467Carline 'S'Carline 'C'Carline 'E' 'Minimalist''Traditionalist''Luxury/ Status''Hedonist'E+–RE +–R E +–R E +–R E +–RE+ E-R+ R-E R Purism Purism Smart Shopping Smart Shopping Total Cost Total Cost Nature Nature Fair Fair Tranquil Tranquil Thrill&Fun Thrill&Fun New&Cool New&Cool Carefree Carefree Vitality Vitality Clanning Clanning Passion Passion Classic Classic Customized Customized Personal Efficiency Personal Efficiency 24/7Protech 24/7Protech Service Service Quality Quality Proven Proven E+ E-R+ R-E R Purism Purism Smart Shopping Smart Shopping Total Cost Total Cost Nature Nature Fair Fair Tranquil Tranquil Thrill&FunThrill&FunNew&Cool New&Cool Carefree Carefree Vitality Vitality ClanningClanning PassionPassion Classic Classic Customized Customized Personal Efficiency Personal Efficiency 24/7Protech 24/7Protech Service Service Quality Quality Proven Proven E+E-R+ R-E R Purism Purism SmartShopping Smart Shopping Total Cost Total Cost Nature Nature Fair Fair Tranquil Tranquil Thrill&FunThrill&Fun New&CoolNew&Cool Carefree Carefree VitalityVitality Clanning Clanning Passion PassionClassic Classic Customized Customized PersonalEfficiency Personal Efficiency 24/7Protech 24/7Protech ServiceService Quality Quality ProvenProvenNature SmartShopping Proven Customized Thrill&FunTotal Cost Fair Purism New&Cool Carefree Vitality Tranquil Quality Service Clanning Passion Classic Personal Efficiency 24/7Protech E +–RNature SmartShopping Proven Customized Thrill&Fun Total Cost Fair Purism New&Cool Carefree Vitality Tranquil Quality Service Clanning Passion Classic Personal Efficiency 24/7Protech E +–R借助Profiler 品牌战略分析工具可以明显地揭示各品牌的强势与弱势所在， 以及品牌所面对的竞争环境品牌 'A' – PVP ProjectionE品牌 'B' – PVP ProjectionE 2000<Carefree> <Carefree> <Clanning> <Clanning> <Protech> <Protech>Brand 'C' 品牌 'C' – PVP ProjectionE<New&Cool> <New&Cool> <Classic> <Classic>PVP 广告分析<Classic> <Classic> <Tranquil> <Tranquil>品牌投射–+<Protech> <Protech>–+<Quality> <Quality> <SmartShop> <SmartShop>–+<Protech> <Protech>1996-98 R<SmartShop> <SmartShop>R<Proven> <Proven>R品牌 'A' – AVP PerceptionEPassion Fair Thrill&Fun Vitality Classic Carefree New&Cool品牌 'B' – AVP PerceptionEPassion Fair Nature Purism Vitality Thrill&Fun品牌 'C' – AVP PerceptionEPassion Fair Nature Purism Classic Vitality Carefree New&Cool Thrill&Fun实际认知效果分析品牌认知Nature PurismClassic social hierarchy Carefree Clanning New&CoolLower 'ranks' in消费倡导者 的性格特征TranquilClanningTranquilTranquilClanning–Service Smart Shopping Quality 24/7 Protech+Personal Efficiency Proven Total Cost–Service Smart Shopping Quality 24/7 Protech+Personal Efficiency Proven–Service Smart Shopping Quality 24/7 Protech+Personal Efficiency Proven创新者的 性格特征RCustomizedTotal CostRCustomizedTotal Cost 最低要求者 的特征'RCustomizedSource: Roland Berger - Strategic Brand Development Group, Data from Metris (Portugal, Oct.2000, n=1.500, Population 15-65 yrs., CATI)41“节俭主义者”是品牌B 吸引的主导消费者类型，用户群结构对未来发展不利消费者基础与消费者类型分析主导的消费者类型品牌 B – AVP (年轻人)EPassion Fair Nature Purism Classic Vitality Carefree New&Cool Thrill&FunTranquilClanning–Service Smart Shopping Quality 24/7 Protech+Personal Efficiency Proven Total Cost100% 80% 60% 40% 20% 0% -20% -40% -60% -80% -100% Dev74,3% 46,0% 40,7% 37,3% 61,1%超过平均值 超过平均值社会阶级层次 较低!!!-31,7%-58,3%低于平均值 低于平均值- 60,8% 创新者 -60,8%-52,6% 胜利者 -52,6% 传统主义者 无关主义者 人道主义者 利他主义者 节俭主义者 自我抑制型 46,0% 40,7% 61,1% 37,3% 74,3% -31,7%RCustomized消费倡导者 -53,3%经济相关性不断下降!与主导的消费者类型冲突 与主导的消费者类型冲突42Source: Roland Berger - Strategic Brand Development Group, Data from Metris (Portugal, Oct.2000, n=1.500, Population 15-65 yrs., CATI)品牌C 吸引的消费者类型中，消费人群较为复杂消费者基础与消费者类型分析主导的消费者类型品牌 C – AVP (年轻人)EPassion Fair Nature Purism Classic Vitality Carefree New&Cool Thrill&FunTranquilClanning–Service Smart Shopping Quality 24/7 Protech+Personal Efficiency Proven Total Cost100% 80% 60% 40% 20% 0% -20% -40% -60% -80% -100% Dev68,4% 42,8%78,6%超过平均值 超过平均值48,7% 14,3%!8,3% -33,8%低于平均值 低于平均值!-64,7% 创新者 42,8% 胜利者 24,6%-58,0%RCustomized消费倡导者 68,4%传统主义者 无关主义者 人道主义者 利他主义者 节俭主义者 自我抑制型 -64,7% -58,0% -33,8% 48,7% 8,3% 14,3%经济相关性不断下降1.) 节俭主义者和消费倡导者/胜利者无法很好地匹配 C品牌的消费群中的节俭主义者的份额增长将有可能导致消费倡导者消费类型放弃此品牌!与主导的消费者类型冲突 与主导的消费者类型冲突43Source: Roland Berger - Strategic Brand Development Group, Data from Metris (Portugal, Oct.2000, n=1.500, Population 15-65 yrs., CATI)战略品牌分析解释了市场背景情况，及品牌B 在年轻消费者市场逐渐丧失 份额的背后原因品牌 'A' 品牌投射目前的品牌组成 (PVP)品牌 'B'品牌 'C'协调性品牌投射的长期效果 (PVP over time)品牌认知市场地位概况，驱动力 (AVP)消费者基础消费群类型的组成 (CBA)排名 目前增长趋势2.3.1.优好，适中差44Source: Roland Berger - Strategic Brand Development Group品牌B 无法在年轻消费者市场取得成功 – 必须引入一个全新的品牌D，以避 免过渡地对品牌B 进行无效品牌延伸市场特征语言， 图像，文字，音效 • 可预见 • 严肃认真 • 传统 • 精准 • 可信赖 • 前/ 后 • 追求完美 • 大方端庄 • 注重产品内部细节 • 新奇有趣 • 随时自发 • 主动积极 • 缤纷多变 • 注重产品外观 • 令人惊喜 • 与众不同 • 生动活泼 • 休闲市场划分 VIP’s品牌架构 • 更注重理性价值品牌执行要求的技能'B'强势大多数为30岁以上 的成功人士， 阅历 丰富，成熟稳重• 可靠 • 不注重感性价值 • 值得信赖 • 更注重感性价值 • 协调一致 • 不注重理性价值年轻人'B'弱势大多数为25岁以下的 青年人，反叛， 自我，蔑视权威品牌 ‘B’ 无法同时满足两种对立的目标消费群的不同要求因此必须引入全新的品牌D – 并且确保品牌B坚守其原有的品牌定位Source: Roland Berger - Strategic Brand Development Group45对于品牌D 的市场进入策略，有三种可选方案备选方案价格导向E Brand C主流价值导向E Brand C Brand A Brand A时尚型E Brand C目标品牌定位Brand A–+–+–+RRR主导品牌 定位元素<全面成本t> <明智购物> <科技/创新><归属感> <科技> <可靠/经典> <明智购物> <质量> <服务> <简约><科技/创新> <新潮/酷> <归属感> <激情> 反对-<经典> 反对-<可靠> 反对-<简约>辅助品牌 定位元素<归属感> <质量> <服务> <简约>Source: Roland Berger - Strategic Brand Development Group46采取“时尚型”的市场进入方案将为品牌D 带来更大的竞争优势，同时给品 牌C 和品牌A 带来威胁品牌 ‘D’ – 时尚型定位E <新潮/酷> 要素<Classic> <Classic>品牌 'C'E 品牌C无法很好地集中 在<新潮/酷>上…品牌 'A'E<Classic> <Classic>!–… 将会迫使品牌C直接对 品牌A进行竞争– 规避传统主义者 规避节俭主义者 R+关键驱动 要素+–+… 从而迫使品牌C往回退到<经典>， 并有可能最终退到<明智购物>上 R R• “时尚型”品牌定位凸显 <新潮/酷 >元素，相比较与<经典>结合， 这更易令人 信服 • 凸显<新潮/酷> 并弱化<经典> 能很好地吸引创新者消费群， 并影响消费倡导者• 品牌C很难成功地集中在 <新潮/ 酷>上，从而降低了其可信度， 无法很好地吸引“胜利者” • 品牌 ‘C’ 将被迫只集中在<经典 >上，并且最终在 <明智购物> 上• 品牌C 若集中在<经典>上，将 无可避免地产生与品牌A的直接 竞争 • 这将对品牌B产生好处Source: Roland Berger - Strategic Brand Development Group47通过以上策略性分析过程，导出了品牌D 的目标品牌价值定位，这将作为 其整个品牌营销组合的指导原则品牌 B – AVP (年轻人)EPassion Fair Nature Purism Classic Vitality Carefree New&Cool Thrill&FunFair Nature Purism Classic品牌 D – TVP (年轻人)EPassion Vitality Carefree New&Cool Thrill&FunTranquilClanningTranquilClanningPro-Innovator Attractor–Service Smart Shopping Quality 24/7 Protech+Personal Efficiency Proven Total Cost–Smart ShoppingService Quality+24/7 ProtechAnti-Minimalist SeparatorPersonal Efficiency ProvenMobile phone EnablerTotal CostR 分析100% 80% 60% 40% 20% 0% -20% -40% -60% -80% -100% DevCustomizedPro-Innovator Customized R Attractor策略性分析过程74,3% 46,0% 61,1%above average above average目标increase increase++ +-31,7%40,7%37,3%!!!-58,3% Maximalist -53,3%below average below average- 60,8%-52,6%-Sharedecrease decreaseInnovator Succeeder Traditional Indifferent Humanist -60,8% -52,6% 40,7% 37,3% 46,0%Altruist 61,1%G.Minimal Minimalist 74,3% -31,7%Maximalist14,7%Innovator Succeeder Traditional Indifferent Humanist11,7% 8,7% 19,7% 5,7% 7,7%Altruist8,7%G.Minimal Minimalist12,5% 8,7%Distance from Market Protagonists Decreasing Economic RelevanceDecreasing Economic Relevance Distance from Market ProtagonistsSource: Roland Berger - Strategic Brand Development Group48品牌D 的营销组合必须同时满足支持其品牌拥护者并打击其品牌竞争对手的 目的品牌 'D'Target Value Proposition Target Value PropositionEPassion Fair Nature Purism Classic Vitality Carefree New&Cool Thrill&FunTranquilClanning–Smart ShoppingService Quality+24/7 ProtechPersonal Efficiency Proven‘创新者'Target ProtagonistTotal Cost Customized‘节俭主义者'Target AntagonistsROKNOScale for approval产品• 开发显示 <科技> 特征的产品 ，如手机“个人游戏” 或“个人网 络” 等价格• 制定中高档定价策略 • 5-10% 略高于竞争对手渠道• 提出反对<科技>感觉的包装和 宣传品的创意 • 对代理商进行培训，吸引更多 的“创新者”并将“节俭主义者”驱 赶给品牌C推广• 基于TVP设计品牌标识，并进 行相关的品牌宣传推广Source: Roland Berger - Strategic Brand Development Group49。

takes 48 hours Scheduled shipments by time-zone
Business Model (cont`d)
Retailing
consists of merchandising and store operations Stores places in premium streets and city centers Set fabulous window-display store Main retailing tactic: create scarcity Very low advertisements Aims: reduce inventory and marked-down prices
Euro-Centric Model
Diseconomies of Scale
Threats
Potential Oversaturation in Europe Rivals may copy Zara's strategy Competition from Chinese and other external manufacturers Manufacturing base in Spain may become Expensive
Design
Coordinate with R&D and also with stores itself to catch new trends
Ability to produce fast fashion
Marketing
Market Penetration:
Own subsidiaries Joint Ventures Franchising
Competitive Advantage

The Organization of International Business∙ Identify the different kinds oforganizational structures andinternal control mechanismsthat international businessescan use to manage globaloperations.∙ Discuss the advantages anddisadvantages of centralizedand decentralized decisionsystems.∙ Present the basic types oforganizational forms thatmultinational firms use.∙ Describe the control systemsand integrating mechanismsavailable to multinational firms∙ Show how the organizationalarchitecture, control systems,integrating systems, anddecision making choicesmultinational firms haveavailable must be consistentwith their strategy and industryenvironmentThis chapter identifies the organizational architecture that international businesses use to manage and direct global operations. The core argument outlined in this chapter is that superior enterprise profitability requires three conditions: First, the different elements of a firm’s organizational architecture must be internally consistent. Second, the organizational architecture must match or fit the strategy of the firm —strategy and architecture must be consistent. Third, the strategy and architecture of the firm must be consistent with competitive conditions prevailing in the firm’s markets. 13OUTLINE OF CHAPTER 13: THE ORGANIZATION OF INTERNATIONAL BUSINESSOpening Case: A Decade of Organizational Change at UnileverIntroductionOrganizational ArchitectureOrganizational StructureVertical Differentiation: Centralization and DecentralizationHorizontal Differentiation: The Design of StructureIntegrating MechanismsControl Systems and IncentivesTypes of Control SystemsIncentive SystemsControl Systems, Incentives, and Strategy in the International Business ProcessesOrganizational CultureCreating and Maintaining Organizational CultureOrganizational Culture and Performance in the International Business Synthesis: Strategy and ArchitectureLocalization StrategyInternational StrategyGlobal Standardization StrategyTransnational StrategyEnvironment, Strategy, Architecture, and PerformanceOrganizational ChangeOrganizational InertiaImplementing Organizational ChangeChapter SummaryCritical Thinking and Discussion QuestionsClosing Case: Strategic and Organizational Change at Black & DeckerTEACHING SUGGESTIONSIn order to get students thinking about the trade-off implicit in any strategic choice, this small group or individual exercise can be used at the beginning of class.You’ve developed very popular up-scale but reasonably priced clothing fashion line for young people, producing designs in a number of countries, manufacturing in low-cost locations, and with retail outlets in major US and European cities. Demand is popping and you have access to plenty of production capacity and capital. How should you organize the business outside the U.S.? Should you set up reasonably independent companies, subsidiaries, in each foreign market? What would that do and not do for you? Or do you want to impose a strict brand image, procedures, and central planning from headquarters, where your offices are? What are the plusses and minuses of that approach? TRANSITIONThe connection with the Unilever Opening Case is clear. They began with a decentralized system and have been rapidly moving towards increasing integration.∙Unilever is a $50 billion company selling more than 1000 products in virtually every country.∙Historically Unilever was organized into decentralized subsidiaries in each major national market. In the early 1990s there were 17 Unilever subsidiariesin Europe.∙Decentralization allowed local managers to respond to its unique market conditions and was a source of strength.∙Unilever worked hard to build a common culture to knit together a decentralized disparate organization.∙By the mid 1990s Unilever’s decentralized structure was working against its efforts to build global brands and cut costs in the face of competition.∙In 1996 Unilever introduced a new structure based on regional business groups.∙The 17 European companies relinquished autonomy in their markets to help develop a unified pan-European strategy.LECTURE OUTLINE FOR CHAPTER 13This teaching outline follows the PowerPoint presentation provided along with this instructor’s manual. The PPT slides include extensive notes that are printable under view—notes page. What follows is a summary.Slide 13-3 Opening Case: Organizational Change at UnileverWhen its structure was decentralized, Unilever used meetings and conference to create a common culture. However, there was still a lot of waste related to redundancy in the organization. The 1996 reorganization by regional business groups and the use of programs such as Lever Europe developed new capabilities in cost reduction as well as global product introduction.Slide 13-4 IntroductionOrganization architecture includes structure, control systems, incentives, processes, culture and people. Three consistency conditions must be satisfied for an organization to deliver profitability: architecture must be internally consistent; strategy and architecture must be consistent; strategy and architecture together must be consistent with the competitive environment of the firm.Slides 13-5, 13-6, 13-7 Organizational ArchitectureStructure and control systems establish decision-making responsibilities and integration mechanisms. Control systems measure and evaluate managerial performance and the performance of sub-units. Incentives connect to control systems, and processes need to be consistent with the strategic objectives of the organization. Efforts to shape values and norms in an organization are intricately linked to human resource practices, especially at the selection and recruitment stages.Slide 13-8 Organizational StructureVertical differentiation locates descision-making. Horizontal differentiation locates control boundaries (units/sub-units). Integrating mechanisms provide for coordination. Slide 13- 9 Centralization v. DecentralizationThe trade-offs here are control and local responsiveness.Slide 13-10 Horizontal Differentiation (HD)The typical entrepreneurial firm begins with no formal structure. As the firm grows, when the decision load becomes too intense for one person to handle, the firm is split into functions representing value creation activities. If growth continues, eventually the complexities of size push for the re-structuring of the firm into a divisional form.Slide 13-11 Typical Functional StructureSlide 13-12, 13-13 International DivisionThe International Division structure is organized by geography.Slide 13-14 Problems with the International StructureThese have to do with conflict between foreign and domestic, foreign managers given a secondary role, and lack of coordination.Slide 13-15 International Structural Stages ModelSlides 13-16, 13-17 Worldwide Area StructureThe world is divided into areas. An area may be a country or a group of countries. Each area is self-contained and autonomous. While this structure supports local responsiveness, it can lead to fragmentation because of lack of coordination across the areas.Slides 13-18, 13-19 Worldwide Product Divisional StructureSome firms shift to a worldwide product divisional structure as international growth increases. Each product division is autonomous and responsible for its own value creation activities. This gives managers latitude to realize location and experience curve economies. However, area or country managers tend to have little voice in this structure and this can have a devastating effect on local responsiveness.Slides 13-20, 13-21 Global Matrix StructureWhen a firm’s strategy simultaneously demands location and experience curve economies, local responsiveness, and internal transfer of core competencies the global matrix structure does the best job. It is an attempt to simultaneously capture the benefits of the worldwide area structure and the worldwide product divisional structure. The balancing act of the global matrix structure comes with its own challenges. It slows down decision making, increases the likelihood of conflict between the area structure and the product structure, and accountability is always a challenge when each manager has to wear 2 hats – one area-specific and one product-specific.Slide 13-22 Integrating MechanismsDifferent strategies make different demands on the manager in terms of the need for coordination.Slide 13-23 Impediments to CoordinationDiffering goals and lack of respect; different orientations due to different tasks; differences in nationality, time zone and distance.Slides 13-24, 13-25 Formal Integrating SystemsDirect contact, liaison roles, teams, and matrix structuresSlides 13-26, 13-27 Informal Integrating MechanismsInformal integration is a way around problems with the formal systems. It requires the organization have a teamwork spirit that embraces as many managers as possible in order to make informal mechanisms work. Two common techniques that are used to establish informal networks are; (1) the use of an appropriately designed information system (2) the use of management development policies that promote network behavior.Slide 13-28 Control systems and incentivesSlide 13-29 Factors that Influence Incentive Systems(1) The seniority of the employee and the nature of work done (2) The output target set for the employee and the degree of influence (3) The amount of cooperation between subunit managers (4) National differences in institutions and culture.Slides 13-30, 13-31 Performance AmbiguityPerformance ambiguity exists when the causes of a subunit’s poor performance are not clear and it is caused by the high degree of interdependence between subunits within the organization.Slide 13-32 Implications for Control and IncentivesThe costs of controlling transnational firms are higher than the costs of controlling firms pursuing other strategies.Slide 13-33 ProcessesIn a global enterprise many processes pose severe challenges to managers because they cut across organizational boundaries as well as national boundaries (e. g: product development). Also, valuable new processes that could create significant competitive advantage could develop anywhere in the firm’s global network.Slide 13-34Organizational CultureOrganizational culture is a social construct, a system of values and norms shared among people.Slide 13-35 Culture and PerformanceStrong cultures and adaptive cultures. The ―correct‖ culture is context-specific.Slide 13-36 Synthesis of strategy and ArchitectureSlide 13-37, 13-38 Organizational ChangeChange is often difficult to achieve due to organizational inertia. The inertia may arise from several sources: possible redistribution of power and influence among managers; strong existing cultur e; senior manager’s preconceptions about the appropriate business model; institutional constraints such as national regulations including local content rules regarding layoffs. Unfreeze-move to new state-refreeze.Slide 13-39 Looking Ahead to Chapter 14Entry Strategy and Strategic AlliancesANSWERS TO CRITICAL THINKING AND DISCUSSION QUESTIONS FOR CHAPTER 13QUESTION 1: "The choice of strategy for a multinational firm to pursue must depend upon a comparison of the benefits of that strategy (in terms of value creation) with the costs of implementing that strategy (as defined by organizational architecture necessary for implementation). On this basis, it may be logical for some firms to pursue a multi domestic strategy, others a global or international strategy, and still others a transnational strategy." Is this statement correct?ANSWER 1: Yes, this statement is correct. There is a cost-benefit trade-off with strategy choice. The costs of structure and controls for different strategies can differ widely. Transnational is usually very high, while localization is quite low. On the other hand, a localization strategy does not confer the many benefits of international, global, or transnational strategies. Remember that the strategy must fit with the competitive environment of the firm and the organizational structure and control systems of the firm must be consistent with its strategy. (See Table 13.2)QUESTION 2: Discuss this statement. "An understanding of the causes and consequences of performance ambiguity is central to the issue of organizational design in multinational firms."ANSWER 2: Organizational design creates interdependence, which may lead to performance ambiguities. Different organizational designs can remove performance ambiguities, shift them to a different level in the hierarchy, or create new performance ambiguities. It makes sense to analyze the cause of performance ambiguities as a part of the organizational design process. It also makes sense to analyze the opportunities for performance ambiguity that a new design might present. How an international company is organized (its architecture) may be a main reason a company does or does not perform well.QUESTION 3: Describe what organizational architecture a transnational firm might adopt to reduce the costs of control.ANSWER 3: A transnational, like all multinational firms, can use bureaucratic and output controls to some extent. However, the use of output controls is limited due to performance ambiguities. Bureaucratic controls are less effective when there are multiple lines of responsibility. Incentives for cooperation are one way to address this challenging issue. Another is the development of a strong culture. This culture could encourage cooperation by encouraging managers to buy into norms and value systems related to high performance. Such a culture could also give managers from interdependent sub-units an incentive to look for ways to work out any problems that might arise between them. A strong, success-oriented culture would lead to lower control costs.QUESTION 4: What is the most appropriate organizational architecture for a firm that is competing in an industry where a global strategy is appropriate?ANSWER 4: When a global strategy is appropriate, a company believes that its market is the world, and that it seeks economies of scale through the development and manufacture of a standardized product. An appropriate organizational architecture would be moderate decentralization with worldwide product divisions. There needs to be a lot of coordination, many integrating mechanisms, and a strong culture. Examples of companies pursuing global strategies are Intel, Motorola, and Texas Instruments.QUESTION 5: If a firm is changing its strategy from an international to a transnational strategy, what are the most important challenges it is likely to face in implementing this change? How can the firm overcome these challenges?ANSWER 5: The most important challenges are likely to be related to control, as the firm moves from at least a partial reliance on output measures and bureaucratic methods to one that will require many formal and informal controls and integration mechanisms. Significant performance ambiguities may occur with transnational strategies. A way to address these challenges is with a very strong culture and many integrating mechanisms. Examples of companies addressing the complex challenges of a transnational strategy are Ford, GM, Caterpillar, and ABB.CASE DISCUSSION QUESTIONSQUESTION 1: How would you characterize Black & Decker’s international expansion during the 1950s and 1960s? What strategy was the company pursuing? What was the key feature of the international organization structure that Black & Decker operated with at this time? Did Black & Decker’s strategy and structure make sense given the competitive environment at that time?ANSWER 1:Black & Decker’s early international expansion was localized, marked by great independence and decentralization. ―. . .All business functions (marketing, engineering, manufacturing, etc) are kept as close as possible to the market to be served‖—from the 1979 Annual Report. This strategy made sense at the time because there was little competition.QUESTION 2: How did the competitive environment confronting Black & Decker change during the 1980s and 1990s? What changes did Black & Decker make in its (a) strategy and (b) structure to compete more effectively in this new environment? ANSWER 2: In the 1980s and 1990s, competition increased. Bosch, Makita and Panasonic had entered the power tools game. Black & Decker’s former monopoly position in the sector now faced serious threat. To confront this threat, Black & Decker sought economies by closing factories, centralizing R&D, centralizing production decisions while keeping efficient local factories up and running, and rationalizing the workforce. This is an international strategy phase. The structural change was from a series of relatively independent subsidiaries to a more centralized organization. QUESTION 3: By the 2000s what strategy was Black & Decker pursuing in the global market place? How would you characterize its structure? Did the structure fit the strategy and environment?ANSWER 3: By 2002, Black & Decker moved their production to low cost global centers in China, Mexico and the Czech Republic, and did all their R&D and new product development work in two centers in the U.K. and U.S. Black & Decker has moved on to a global strategy phase, with production in low cost locations and R&D in areas that havea comparative advantage for that work. That means headquarters is making many decisions and there is little localization.QUESTION 4: Why do you think it took the best part of two decades for Black and Decker to effect a change in strategy and structure?ANSWER 4: The strategy seems to have evolved with changing competitive conditions. It must be quite difficult to be successful, own the market, as Black & Decker did in the 1980ies, and at the same time, figure out how to adapt to what has not yet happened, but what was inevitable: that competition would see their huge market and want a piece of it. Also, effecting structural and strategic change can be difficult and take a long time. globalEDGE™ Exercise Questions/U se the globalEDGE™ site to complete the following exercises:Exercise 1The Financial Times newspaper and the auditing firm PricewaterhouseCoopers conduct an annual survey and publish the rankings of World’s Most Respected Companies. PricewaterhouseCoopers provides the whole report downloadable as a PDF file. Locate the most recent ranking available and focus on the introductory analysis. Prepare an executive summary of the strategic and organizational success factors that make a company "most respected".Exercise 2The globalEDGE™ presents selected articles from the business print media under its Knowledge Room section. Locate the Selected Articles section and find an article that provides insights about the four key challenges facing firms in the globalization process. Prepare a description of these challenges and the solutions that the authors recommend. ANSWERS FOR globalEDGE EXERCISESChapter 13 – Exercise 1The World’s Most Respected Companies rankings can be located by searching for the name of the ranking at /ibrd/ibrd.asp. The resource is titled―Financial Times:World’s Most Respected Companies‖ and is located under the globalEDGE™ Category ―Research: Rankings‖. The rankings from are only available through subscription, but PricewaterhouseCoopers provides access to the results through a PDF download.Search Phrase: ―World’s Most Respected Companies‖Resource Name: Financial Times:World’s Most Respected CompaniesWebsite:/Extweb/ncsurvres.nsf/docid/D2345E01A80AC14885256CB0 0033DC8FglobalEDGE™ Category: ―Research: Rankings‖Chapter 13 – Exercise 2The selected articles section can be accessed via the ―knowledge room‖ web page at /KnowledgeRoom/KnowledgeRoom.asp. Also, the full list of the articles is located under the selected articles webpage at/KnowledgeRoom/SelectedArticles/index.asp. ―Th e Changing Face of Global Business‖ is an article published by the Optimize Magazine and can be reached at/article/showArticle.jhtml?articleId=21400849&pgno=1. Location: Knowledge Room / Selected ArticlesResource Name: The Changing Face of Global BusinessWebsite:/article/showArticle.jhtml?articleId=21400849&pgno=1 globalEDGE™ Category: ―Selected Articles‖SUGGESTED VIDEO NOTETitle 14: General Motors/SaabSummaryGM, the world’s largest automaker, is changing the way it does business. Despite profitability issues, the company has increased its R&D budget demonstrating its commitment to innovation. GM believes the way of the future requires the company to leverage its global engineering resources, relationships, skills, and knowledge. The company hopes that this global approach will eventually pay off in the form of higher profits. To that end, GM has established the Global Research Network designed to bring together technical expertise from around the world, and in the process, eliminate the traditional more isolated approach to innovation.GM’s new business model has required the company to make some substantial changesto the way its R&D division operates. The company is emphasizing collaboration between and among researchers, universities, national laboratories, suppliers, and even other auto manufacturers. To achieve its goal, GM is promoting physical meetings between researchers, e-mailing, net meeting, and so on. GM has also established a science center in Sweden that is situated such that not only are the technical people and manufacturing people physically very close, but they also have easy access to universities. This video relates to the material on strategic alliances in Chapter 14, the discussion of organizational culture in Chapter 13, the notion of strategy in Chapter 12, and material on R&D in Chapter 17.International Business: Competing in the Global Marketplace Sixth Edition Chapter 13 Discussion Questions1. GM is promoting a substantial shift in its corporate culture in the area of research, going from the traditional lone wolf mentality to a highly collaborative model. How can the company ensure the transformation occurs? What can the company do to facilitate the process?2. The SAAB brand is at the center of GM’s new business model. Will the model successfully extend to its other products? Why or why not?3. GM is promoting collaboration between its own researchers and researchers at other firms including the competition and the company’s suppliers. How can the company protect itself from opportunistic behavior from its research partners?4. GM has recently opened a new science office in Sweden. The company hopes that the center will benefit not only the SAAB brand, but the entire GM product line. Consider the center, its layout, how it came into existence, and so on. Can this type of center exist elsewhere in the GM network? Why or why not?199。

新闻传播学专业词汇英汉对照I. 传播学概念1.传播communication2.内向/自我传播intrapersonal communication3.人际传播interpersonal communication4.群体传播group communication5.组织传播organization communication6.大众传播mass communication7.单向传播one-sided communication8.双向传播互动传播interactive communication9.媒介media10.大众传播媒介mass media11.新闻洞news hole12.传者communicator13.受传者audience14.受众audience15.阅听大众audience16.信息information17.信息熵entropy18.传播单位communication unit19.编码encoding20.解码decoding21.信源source22.传播渠道communication channel23.冗余信息redundancy24.有效传播effective communication25.知识沟knowledge gap26.口传系统oral communication27.媒介即讯息media is the message28.冷媒介与热媒介cold media；hot media29.媒介的时空关系the space-time of media30.地球村global village31.内爆implosion32.电子空间cyber space33.全球化globalizationII. 经验学派1.把关人守门人gatekeeper2.传播效果communication effects3.模式model4.子弹论bullet theory5.两级传播模式two-step flow model6.强大效果模式powerful effects model7.有限效果模式limited effects model8.适度效果模式moderate effects model9.议程设置模式agenda setting model10.时滞time lag11.沉默的螺旋模式spiral of silence12.劝服传播persuasive communication13.拉斯韦尔模式Lasswell’s model14.维纳的《控制论》Wiener’s cybernetics15.传播的数学理论香农一韦弗模式mathematical theory of communication/ Schannon-Weaver’s model16.罗杰斯的创新理论Roger’s innovation theory17.使用与满足模式uses and gratifications model18.使用与依从模式uses and dependency model19.选择性接触选择性注意selective exposure/ selective attention20.选择性理解selective perception21.选择性记忆selective retention22.信源可信度credibility23.高可信度来源high credibility source24.休眠效应sleeper effect25.恐惧诉求fear appeal26.短期效果或长期效果short-term effect/ long-term effect27.报业的四种理论four theories of the pressIII. 批判学派1.意识形态ideology2.视觉文本visual text3.解构主义deconstructionism4.文化工业culture industry5.法兰克福学派Frankfurt School6.霸权hegemony7.权力话语power discourse8.女性主义／女权主义feminism9.符号学semiotics10.非语言符号／非语言传播nonverbal sign/ nonverbal communication11.所指与能指signified/ signifier12.意指siginification13.隐喻与换喻／转喻metaphor14.元语言metalanguage15.话语discourse批评理论critical theory16.话语理论discourse theory17.文化期待culture expectations18.范式paradigm19.叙事范式narrative paradigm20.叙事narrative21.强语境与弱语境high context/ low context22.跨文化传播intercultural communication23.功能理论functionalism24.话语分析discourse analysisIV. 传媒产业1.市场驱动的报纸market-driven newspaper2.传播的商品形式commodity form of communication3.受众商品audience commodity4.媒介集中化media conglomeration5.内在的商品化internal commodity6.传媒产业media industry7.受众分割audience segmentation8.注意力经济attention economy9.媒介竞争competition of media10.媒介资本media capital11.媒介战略管理media strategic management12.媒介集团media conglomeracy13.传播政治经济学political economy of communication V. 传媒研究与方法1.传播研究communication research2.抽样sampling3.调查研究法survey research4.内容分析法content analysis5.实验研究法experiment research6.效度与信度validity/ reliability7.定性研究法qualitative research8.变量variables9.实地观察法field observation10.个案研究法case study11.新媒介new media12.数字化digitalization13.互联网internet14.虚拟社群virtual community博客blog15.扩散研究diffusion study16.短信short message17.数字语言digital language18.超文本hypertext19.媒介事件media event20.媒介仪式media ritual21.传播生态ecology of communication22.对真实的社会建构social construction of reality23.真实／虚构reality / fiction24.拟态环境pseudo-environment25.刻板成见stereotyping26.二元价值观评判two-valued uation27.媒介非中心化decenter the media28.信息社会information society29.媒介功能media function30.公共关系public relation31.阐释理论interpretive theoryVI.人物1.哈罗德•D•拉斯韦尔Harold Dwight Lasswell2.保罗•F•拉扎斯菲尔德Paul F Lazasfeld3.卡尔•I•霍夫兰Carl Iver Hovland4.库尔特•卢因Kurt Lewin5.韦尔伯•L•施拉姆Wilbur Lang Schramm6.马歇尔•麦克卢汉Marshall Mcluhan新闻学I. 著名英文报刊选摘一、美国报纸1、The New York Times 纽约时报2、The Washington Post 华盛顿邮报3、Los Angles Times 洛杉矶时报4、USA Today 今日美国5、The Wall Street Journal 华尔街日报6、The Christian Science Monitor 基督教科学箴言报7、International Herald Tribute 国际先驱论坛报二、美国期刊1.Time 时代2.Newsweek 新闻周刊3.U.S. News and World Report 美国新闻及世界报道4.Reader’s Digest 读者文摘5.Fortune 财富6.Far Eastern Economic Review 远东经济评论三、英国报刊1.The Times 泰晤士报2.Financial Times 金融时报3.The Guardian 卫报4.The Daily Telegraph 每日电讯报5.The Economist 经济学家6.The Spectator 观察家7.New Stateman 新政治家四、其它1、Japan Times 日本时报2、South China Morning Post (HK ) 南华早报（香港）3、China Post (TW) 中国邮报（台湾）4、China Daily (PRC)中国日报（大陆）II. 报纸版面各部分名称1.报耳（ear）2.报头（flag/masterhead/nameplate）3.标题（headline）4.版口（head margin）5.当日新闻提要（index）6.插图（cut）7.图片说明（cutline）8.标题之一行（deck）9.署名（by-line）10.新闻导言（lead）11.引题（kicker）12.头版（frontpage）III 报纸常见栏目名称一、常见新闻栏目1.City / Local / City Edition/ City Page/ Region 城市2.National/ Around The Nation/ Domestic/ Home News 国内新闻3.International / Global 国际新闻4.Brief / In Brief / Briefing / Bulletin 摘要5.Recap 简明新闻6.Pony Report 每日新闻摘要7.Newsline 新闻经纬8.Events And Trends 事件/ 动向9.Exclusive 独家报道10.Expose 新闻曝光11.Issue In The News/ Focus/ Hot News 新闻热点12.Update / Latest News 最新报道13.Feature / News Features / General Features 特写（可囊括除新闻以外的一切报道）mentary / Editorial / Opinion / Column / Letters To The Editors 评论15.Advertisement: Display Advertising / Classified Advertising--- (Jobs/Auto/Real Estate/ For Sale/ Help Wanted) 广告二、常见其他栏目名称1.agony column 答读者问专栏2.anecdote 趣闻轶事3.candid camera 抓拍镜头4.caricature漫画、讽刺画5.cartoon漫画6.chitchat column 闲话栏ic strip 连环漫画8.continued story 连载故事9.correspondence column 读者来信栏10.critique 评论11.crossword 猜字游戏/纵横填字字谜12.digest 文摘13.document 文件摘要14.editor’s note 编者按15.essay杂文、随笔、小品文16.going out guide 旅游指南17.gossip 社会新闻18.how-to-stories 常识指导19.interview 访谈录20.leader社论21.light literature 通俗文学22.mini-torial 短评23.note 随笔24.notice 启事25.obit 讣告26.pegging 新闻背景27.personal / personal column 私人广告/ 人事要闻28.profile 人物专访29.readers’ forum 读者论坛30.review 评论31.round-up综合报道/综述32.running story/ serials 连载故事33.shirttail 社论栏/ 附注34.side story / sidebar / sidelight 花絮新闻/趣闻35.situations vacant / situations wanted 招聘广告36.sponsored section特约专版37.squib小品文/随笔38.strip cartoon / strip 连环漫画/连环画39.Supplement 增刊40.Think piece 时事短评41.Titbit 花絮42.Travelogue/ travels游记43.What’s on 影视指南44.Wise saying 至理名言IV. 常见报纸类型1.daily 日报2.morning edition 晨报3.evening edition 晚报4.quality paper 高级报纸5.popular paper 大众报纸6.evening paper 晚报ernment organ 官报8.part organ 党报9.trade paper 商界报纸10.Chinese paper 中文报纸11.English newspaper 英文报纸12.vernacular paper 本国文报纸13.political news 政治报纸14.Newspaper Week 新闻周刊V. 各类记者名称accredited journalist n. 特派记者publisher 发行人proprieter 社长bureau chief, copy chief 总编辑editor-in-chief 总主笔editor 编辑, 主笔newsman, newspaperman, journalist 新闻记者cub reporter 初任记者reporter 采访记者war correspondent, campaign badge 随军记者columnist 专栏记者star reporter 一流通讯员correspondent 通讯员special correspondent 特派员contributor 投稿家VI 其他bulldog edition 晨版article 记事banner headline 头号大标题big news 头条新闻hot news 最新新闻feature 特写,花絮criticism 评论editorial 社论review, comment 时评book review 书评topicality 时事问题city news 社会新闻general news column 一般消息栏public notice 公告calssified ad 分类广告flash-news 大新闻extra 号外the sports page 运动栏literary criticism 文艺评论Sunday features 周日特刊newsbeat 记者采访地区news blackout 新闻管制press ban 禁止刊行yellow sheet 低俗新闻tabloid 图片版新闻"Braille" edition 点字版newspaper office 报社news source 新闻来源informed sources 消息来源attribution n. 消息出处，消息来源newspaper campaign 新闻战free-lancer writer 自由招待会press box 记者席news conference,press conference 记者招待会International Press Association 国际新闻协会distribution 发行circulation 发行份数newsstand, kiosk 报摊newspaper agency 报纸代售处newsboy 报童subscription (rate) 报费newsprint 新闻用纸Fleet Street 舰队街advance n．预发消息；预写消息affair n．桃色新闻；绯闻assignment n．采写任务back alley news n. 小道消息backgrounding n．新闻背景Bad news travels quickly. 坏事传千里。

化的。
企业竞争的本质不只是理清关系，更是在同样面对不确定性，如何能不断优化商业模式以适应变化。 特别随着消费者信息数据化，大数据处理能力的加强，对客户信息的反馈往往是即时的，对商业模式的优
化就在当下。
02 动态商业模式 商业模式3.0版
PART01
商业模式的认知
商业模式的新认知
01创业者角度
二、常见的渠道通路包括：
OFFLINE（线下） ONLINE（线上） O2O（线上到线下） OAO（线上线下融合）
客户关系（CustomerRelationships）
一、基本目标： 组织机构还应当明确客户关系的基本目标，是为了吸引新客户、 维持现有客户还是从现有客户群体ห้องสมุดไป่ตู้挖掘更多收入？
核心资源（KeyResources）
[比利时]伊夫·皮尼厄（YvesPigneur） 瑞士洛桑大学教授
（静态）商业模式要回答的两大核心问题
两个核心问题： （1）我们的客户是谁？ （2）客户需要我们完成哪些工作？ 商业模式思维的一个重要之处在于，它能帮助你认识 和描述“客户”和“工作内容”这两个关键要素。
PART02
静态商业模式的基本内容
客户群体是组织机构赖以生存的基础，没有付费 客户，任何组织机构都无法长期生存。
服务价值（ValueProvided）
一、价值类型： 服务价值可以视为组织机构为客户群体提供的产品或服务利益。 能否提供优质价值服务的能力是决定客户选择某个组织机构的重 要原因。不同类型的价值服务包括以下几种。
理性视角
刚需性、便利性、风险性
关键业务(KeyActivities)
关键业务类型 关键业务是组织机构为维持其商业模式运营必须实施的活动。

Fame and fortune:a conceptual model of CEO brandsFranziska BendischBayer S.A.–CropScience,Sa ˜o Paulo,Brazil Gretchen Larsen Department of Management,King’s College London,London,UK,and Myfanwy Trueman School of Management,University of Bradford,Bradford,UKAbstractPurpose –This conceptual paper examines the notion of CEO brands and the problems that arise if they are misaligned with company brands.Previous research examines product,company and people brands and implications for senior executives and organizations,but there is no theoretical framework for CEO brand stewardship.This research aims to fill the gap.Design/methodology/approach –The marketing literature is examined to identify differences between products and people as brands,and the potential for CEO brands to enhance corporate brand equity.Based on an application of existing branding concepts to CEOs,a conceptual model of CEO brands is developed to include an analysis of the relationships between its constituent parts.Findings –CEO brands can be legitimately considered as brands,and existingbrand conceptualisations can be applied to CEOs as long as some particularities are accounted for.CEO brands are influenced by their personality and their role as managers,and organisations need to constantly monitor CEO brand reputation as well as communicate its positioning.A successful CEO branding enhances perceived brand value and creates value for organisations.Research limitations/implications –This research informs brand managers and strategists about brand equity creation.Monitoring stakeholder perceptions of CEOs can enhance rather than detract from corporate brand value.As it showed that people and CEOs can be legitimately considered as brands,the concept of branding needs to be extended to embrace people and CEO brands.Practical implications –For business practice,this research informs about the differences and similarities between traditional product brands and CEO brands.Particularly it informs that organisations should consider that the CEO brand personifies to stakeholders what the organisation stands for,for example,when hiring a new CEO.Originality/value –This research provides a new conceptual model on the previously under-researched area of CEO branding.The insights into CEO brands provide the basis for empirical research into relationships between brand identity,reputation,position and equity,with implications for personal fame and company fortune.Keywords Brand equity,Conceptualisation,Management activities,Chief Executive Officers,Corporate identity,People brands,BrandsPaper type Conceptual paper1.Introduction Chief Executive Officers (CEOs)are increasingly recognised as high profile figureheads for their organisations,and consequently treated as brands with accompanying equity,in their own right.For example,Peter Montoya Inc.(2003-2005)illustrated that a favourable stakeholder perception will enhance a CEO’s status,whichThe current issue and full text archive of this journal is available at/0309-0566.htmEJM47,3/4596Received 7May 2008Revised 31March 201024November 2011Accepted 17May 2011European Journal of MarketingVol.47No.3/4,2013pp.596-614q Emerald Group Publishing Limited0309-0566DOI 10.1108/03090561311297472can increase their income by up to100per cent thus also contributing to greater equity of the CEO brand.In addition,CEO brands can also create value for their companies (Herbst,2003a;Rein et al.,2006).Often when CEO’s are in the public domain,their brand and that of the company they represent are considered together and therefore influence each other.In practice,47per cent of the public’s opinion about a company is accounted for by the reputation of the CEO,and in Germany this is as much as60per cent(Burson-Marsteller,2006).Ideally,the influence of CEO brand is positive,as in the case of company shareholder perceptions(Bell,2003),where the media can play an important role in building perceived brand value(Heinisch,2006).If CEOs attract high levels of media coverage,their companies are likely to outperform those with low media coverage by8per cent per year(Nguyen-Dang,2005).However,sometimes the influence can be detrimental to the company brand.For example,misaligned CEO and company brand profiles can indicate different agendas,undermining the brand value of both(Balmer and Greyser,2006).Furthermore CEO’s with a prominent media profiles are likely to prioritise their own success above that of the company(Collins, 2001)and are more likely to be charged with evading regulations,or misusing company resources(Hamilton and Zeckhauser,2004).Both positive and negative influences provide strong indications that organisations can benefit by developing and managing CEO brands in addition to product brands and corporate brands.It is important to understand the CEO and corporate brand relationship and the role of CEO brands in creating value for the company.However there is currently little understanding of what a CEO brand is and how it differs from other types of brands (e.g.product,service,corporate brands).Therefore before any empirical research can be undertaken,a robust conceptualisation of CEO brands needs to be developed. Consequently this paper aims to:.explore whether CEOs can be legitimately considered as brands;.propose a conceptual model of CEO brands;and.theorise the sources of CEO brand equity for organisations with special consideration of the stakeholder perspective.To that end,this paper reviews the main parameters,theories,constructs and conceptual frameworks in the brands literature on which the conceptualisation of CEO brands is then built.Aaker’s(2003)and Hankinson and Cowking’s(1995) conceptualisation of brands,as the most comprehensive frameworks,are used to examine various dimensions from which brands have been analysed,particularly brand identity,image and reputation,positioning and equity.These dimensions form the constituent parts of the conceptual model of CEO brands,which allows a comprehensive insight into the mechanisms which lead to the creation of a CEO brand and CEO brand equity.The model suggests that congruency between the brand identity as viewed from the creators’perspective and brand reputation as perceived by stakeholders facilitates a strong positioning against competitive brands,which ultimately leads to CEO brand equity.2.The case for CEO brandsThere is an increasing public acknowledgement that people,and therefore CEO’s,can be brands.The majority of references to people as brands are found in the popular press(Broadbent et al.,2004;Peters,1997;Shepperd,2005)and are generally concerned with celebrities,particularly those from the USA(Peter Montoya Inc.,2003-2005;Fame andfortune597Arruda,2002-2003;Spillane,2000).In practice,many consultants offer services to build and manage the brand profile of senior executives,politicians and celebrities in order to make themselves and/or their organisations more competitive.In academia,the field of people brands is relatively underdeveloped,despite people often being included in the list of “products”that can be branded (e.g.De Chernatony and McDonald,2003;Keller,2003).Herbst’s (2003a,b,c)compendium of papers “Der Mensch Als Marke”[Man asBrand]provides a range of insights into well-known people brands.For example,footballer brands can only be considered successful if they perform well at their sport and their image is recognised by the audience (Herzberg,2003).Goethe achieved success by using all elements of the marketing mix in order to differentiate himself from other authors of his time (Woischwill,2003),and the key to David Bowies successful brand has been constant changes is his appearance and behavior (Behrendt and Panetta,2003).The key research on people brands is summarised in Table I.Examination of Table I reveals a strong focus in the brand constructs of image and reputation.For example,Herbst (2003b)notes that brand image enables the identification,differentiation and profiling of a people brand that helps to position it in relation to rival brands.He identifies four central requirements of a strong image and reputation;exchange,continuity,consistency and individuality,and claims that a brand image also needs to be congruent with the consumers actual or desired self-image in order to be powerful.Not surprisingly Herbst (2003c)observes that personality is the core of a people brand,because it enables the consumer to differentiate,identify with and have confidence in the brand.People brands also need some form of visual identification to underpin successful brand communication.Also apparent in Table I is an interest in brand management processes.Conventional product and corporate branding techniques might be inappropriate or inadequate for people brands (Shepherd,2005)and therefore new or refined processes are required.Rein et al.(2006),argue that anyone can be transformed into a brand,and that there are three different styles of doing so:a pure selling approach,where an agent tries to sell the people brand via their inherent attributes;a product improvement approach,where the agent changes and enhances the individual’s attributes;and a market fulfillment approach,where the agent transforms the person brand to meet the markets demands.These approaches seem to be common across all kinds of brands,but in the case of people brands,the market fulfillment approach is less successful as it is more difficult to permanently transform human attributes such as personalities and behaviours.A more successful approach might be to systematically build an emotional relationship with customers over time,using brand culture,values and behavior to communicate an appropriate vision and image (Herbst,2003b,c).Brand management processes,although interesting will not be considered further at this point,as the aim of this paper is to take the crucial first step of developing a conceptualisation of CEO brands.Casanova (2004)appears to be the only academic study on CEO brands.He introduces the notion of CEO reputation monitoring which aims to increase the beneficial influence of the CEO brand in relation to the corporate brand by monitoring of the CEO’s brand reputation from a stakeholder perspective.Although this research supports the importance of the CEO brand,it does not offer a conceptualisation of CEO brands.Thus,due to the fragmented and embryonic nature of the people and CEO brands literature,the wider brands literature should still be used to inform the conceptualisation of CEO brands.EJM 47,3/4598A commonly agreed understanding of a brand is that it is “an identifiable product,service,person or place,augmented in such a way that the buyer or user perceives relevant unique added values which match their needs most closely”(De Chernatony and McDonald,2003).A range of related concepts have been developed and can be used individually or in combination to further understand the nature of brands.The AuthorsFocus Method Main premises/findings Rein et al.(2006)People in general(The USA)Theoretical discussion of drivers and strategy oftransformation into peoplebrandsPeople can be manufactured into and marketed as celebrities in any field Shepherd (2005)Marketing professionals Theoretical examination ofbasis of self marketing andpersonal branding Identifies conceptual,practical and ethical problems.Identifieschallenges facing educationin creating curriculumwithin which marketingprofessionals learn how tomarket and brandthemselvesHerbst (2003b)People in general Theoretical discussion of image Image central to peoplebrands;People BrandManagement equals imagemanagementHerbst (2003c)People in general Theoretical investigation of people brands Ten premises about peoplebrands Woischwill (2003)Johann WolfgangGoethe Theoretical application of brand elements onto Goethe to test whether he was a brandGoethe can be considered a brand as brand elements canbe transferred onto himBehrendt and Panetta (2003)David Bowie Theoretical comparison ofDavid Bowie’s identity (self-perception)with image inorder to ascertain strength ofhis brand.Survey among 48fans to ascertain DavidBowie’s brand imageDavid Bowie’s congruent self-perception and image is basis for his strong brand identity.David Bowie’s numerous changes constitute continuous brand Herzberg (2003)FootballersTheoretical application ofidentity-oriented branding topremier league andinternationally playingfootballer to ascertainwhether they can beregarded as brands Branding concepts are applicable to footballers.Application must be specific to each player and situation.Each footballer has ability to become a brand when he/she constantly performs welland is not faced withscandals Source:Researcher,2009Table I.Key authors on people brands Fame and fortune 599most notable are brand identity (e.g.Aaker,2003;De Chernatony,1999;Upshaw,1995),brand image (e.g.Boulding,1956;Upshaw,1995),brand positioning (Ries and Trout,1986)and brand equity (e.g.Kapferer,1997;Murphy,1992;Srivastava and Shocker,1991;Wood,2000).Two frameworks are useful in the conceptualisation of CEO brands.The first is Hankinson and Cowking (1995)which provides the most comprehensive framework ofbrand dimensions:visual,image,personality,positioning,perceptual and added value.However,this framework does not incorporate brand identity,which is fundamentally different from the other dimensions and encompasses elements that are likely to be particularly important in the case of people and CEO brands.Thus the second framework is Aaker’s (2003)brand identity dimensions.According to this framework,brand identity consists of four categories of dimensions:brand-as-product,brand-as-organisation,brand-as-person,and brand-as-symbol.The interplay between these two frameworks in the context of CEO brands will be examined in the following discussion.For example the brand visual (e.g.AMA,2008;Murphy,1990)and brand personality (e.g.Plummer,1985;Keller,1993;Fournier,1994)will be discussed within the context of Aaker’s (2003)identity and image.This remainder of the paper explores the way in which these frameworks and relevant concepts can be applied to CEO brands.Based on the extant,albeit limited literature on people and CEO brands,the assumption is that CEO brands are a unique type of people brand because CEO’s are subject to various stakeholder needs,are influenced by the role and identity as managers,and have to consider their relationship with the corporate brand.These differences underpin the development of a conceptualisation of CEO brands.It is also important to consider the context in which a CEO brand is created and how it is perceived by stakeholders.Any brand can be understood from either an input (brand creator)or output (stakeholder)perspective.CEO brands are created by the organisation,consultants and/or by the chief executives themselves.Regardless of who is responsible,the brand is only of value if it appeals to multiple stakeholder groups (De Chernatony,1999).Key stakeholders are not only customers,but employees,shareholders,the media and consumers,all of who may have an interest in the corporate brand as well as the role,performance and behaviour of the chief executive.All of these stakeholders will also form their own impression or “image”of the brand,which might be informed by,but not necessarily comprised of,the brand identity.This paper examines the constituent parts of a conceptual model,which are brand identity (creator perspective),brand image and reputation (stakeholder perspective),brand positioning,and brand equity.The model is illustrated with examples of CEO’s who have been treated as brands in the existing literature.In particular,the case of Richard Branson has been used extensively to illustrate notions of CEO brand identity,as he is considered to be a successful example of this element of branding (Arruda,2001-2005).3.CEO brand identityIdentity is perhaps the central attribute of a CEO brand from the brand management point-of-view.According to Aaker (2003),brand identity is the association that the brand strategist aspires to create or maintain.His notion of brand identity takes an “input”perspective,whereas both Kapferer’s (1997)brand identity prism,and De Chernatony’s (1999)process for managing brands and their identity,additionally incorporate an “output”or stakeholder perspective.The conceptualisation of CEOEJM 47,3/4600brands presented here distinguishes between the“input”and“output”perspectives. The input can be viewed alternatively as the desired identity–what the brand would like to achieve;whereas the output perspective closely relates to what Balmer and Greyser(2006)describe as the actual brand identity–how the brand is perceived by stakeholders.Thefirst step in discussing CEO brand identity is to consider what is unique about brand identity in the case of people and CEO’s.The nature of human identity can be positioned on a scale between two extreme views:either identity isfixed and stable (e.g.Dutton et al.,1994),orfluid and uncertain(e.g.Hollway,1984).Most brand identity theory has been built on tangible products or services,which are generally understood to be relativelyfixable and stable.In comparison,people are complex beings whose nature and character vary in interaction with an immense range of factors:their role, the ageing process,the situation,their emotional state,the weather and so on.Thus people or human identity is viewed asfluid,changeable,contestable,multifaceted and socially/historically situated(e.g.Goffman,1959;Markus and Nurius,1986;Mead, 1934/1962).Human and CEO identity are linked as one is influenced by the other.In the case of CEO brands,it is particularly important to consider not only personal identity but also role(managerial)identity as both are integral to CEO identity (Bendisch et al.,2007).Role,or managerial identities are based on a core set of values, but they areflexible and can be adapted to different work situations.Managers constantly shape and re-shape their identities throughout their work life in response to the situation,social interaction,culture(Watson,1996),and/or the identity of the organisation in which they are working(Ashforth and Mael,1989;Elsbach,1999; Humphreys and Brown,2002).Thus identity creation is a process in which individuals may create a contradictory and often changing managerial identity rather than one that is stable,continuous and secure(Sveningsson and Alvesson,2003).The constant need to control their own personal identity in order to fulfil their responsibilities as a CEO and meet the high expectations of stakeholders within and outside the company, can result in“role stress”,especially if expectations of the CEO identity conflict with personal values(Cooper and Payne,1978).The result is that CEO’s may behave in an way that can undermine the perceived value of their brand,particularly if pressurised to suppress their individuality,or made to conform to corporate interests against their personal beliefs(Brown,2001;Watson,1996).The potential conflict of personal and brand identity is unique to people,and therefore to CEO brands.The literature offers a number of ways in which CEO brand identity can be conceptualised.A common approach is to consider the core and extended brand identity. The core identity incorporates the key elements of the brand vision(De Chernatony, 1999)or the brand essence,which is a single thought that captures the brand vision. Furthermore,it should reflect the strategy and values of the brand and at least one association that differentiates the brand and resonates with customers.Core identity should remain constant as the brand extends into different markets.For example Richard Branson,as a successful CEO brand,is able to create the essence of both his own CEO brand and the Virgin brand in a way that a wide range of stakeholders are able to relate to its core values,such as caring for customers,quality,fun and rebelliousness. These reflect Branson’s personal values which underpin his achievements and therefore resonate with stakeholders.He is a self-made man,having started his career with a journal and a mail-order record company,later a vinyl shop and a music studio(Boeker, 2006).Today Virgin comprises around350companies,including an airline,cinemas, trains and mobile phones(Rein et al.,2006).Virgin’s approach is to enter a mature Fame andfortune601market,such as the mobile phone or airline industry,to identify unsatisfied customer demands (such as the lack of transparency on fees in the mobile market),to address these demands through its products or services,and thus to establish the Virgin brand as a “people’s brand”,following the notion of “David against Goliath”(Mihailovic,1995).In the UK Branson is considered an industrial hero (Deutschmann,2004)and he is working on establishing his CEO brand status in the USA,for example via TV shows such as“The Rebel Billionaire:Branson’s Quest for the Best”(Deutschmann,2004).In marketing his brand,Branson has repeatedly demonstrated a fun and exhibitionist approach,such as at the Virgin mobile USA launch “Nothing to hide”when he stripped to a nude bodysuit with his loins covered by a Virgin mobile phone (Deutschmann,2004),or the launch of Virgin Bridal where he appeared in a wedding gown (Arruda,2001-2005).Although Branson is himself a billionaire,which would seem to contradict the egalitarian nature of the identity he and Virgin have created,the “people’s brand”identity has been so thoroughly and strongly applied that stakeholders do not seem to see this as an inconsistency in the brand identity.The business approach of Virgin,paired with the communication Branson uses,create the perception of an approachable,fun and rebellious person on the part of stakeholders.The extended identity,on the other hand,includes associations that provide completeness.This is where elements such as brand personality become important (Aaker,2003),and attributes such as appearance,lifestyle and behaviour have a strong influence on stakeholder perceptions.The key difference from core identity is that characteristics can change over time.Branson,for example,still receives training in presentation and communication skills (Rein et al.,2006).In business-to-consumer marketing it is estimated that the core is responsible for about 20per cent of a product’s impact,whereas the extended identity is responsible for the remaining 80per cent (Wood,2000).Figure 1illustrates the core and extended brand identity of Richard Branson.More detailed frameworks of brand identity include Kapferer’s (1997)brand identity prism,and De Chernatony’s (1999)process for managing brands and their identity.However,as previously mentioned,Aaker (2003)conceptualisation of brand identityFigure 1.Core and extended identityof Richard Branson as abrandEJM 47,3/4602allows for the most comprehensive understanding of CEO brand identity,and it incorporates the various dimensions included in both Kapferer(1997)and De Chernatony(1999).In order to map the identity of brands,Aaker(2003)framework consists of twelve dimensions organised into four categories:brand-as-product:scope, attributes,quality/value,uses,users,country of origin;brand-as-organisation: organisation attributes,local vs global;brand-as-person:personality,brand-customer relationships;and brand-as-symbol:visual imagery and metaphors,heritage.It must be noted that almost no brand has associations in all twelve categories.This classification helps marketers to clarify and differentiate a brand identity.The“CEO brand as product”category includes all product-related attributes,such as tangible and intangible perceptions of quality,uses,users and country of origin (Aaker,2003).At another level CEO brands trigger associations of power and prestige, and put in place expectations about the managerial and leadership qualities of the individual.This relates to the work of Greenstein(2004)who in reference to US presidents,proposes six qualities of great leaders:vision,political skill,organisational capacity,public communication skills,cognitive style and emotional intelligence. These qualities are also applicable to CEOs and may be innate,enhanced or even acquired during the life of a CEO.Similarly the consultancy Development Dimensions International and Mori(2006)found that successful leaders have the ability to provide clear direction and long-term strategic vision,inspire,encourage teamwork,build relationships,select the right people,make tough decisions and communicate them robustly.In this way the quality of CEO brand identity can be interpreted as the degree to which the executive meets these characteristics and fulfils the needs of users (stakeholders),thus adding perceived value to the company.The leadership skills of the CEO must also be seen in relationship to the company. Some consider the CEO brand as an integral part of the organisation,helping to characterise its identity and behaviour(e.g.Casanova,2004),and therefore relating to the “CEO brand as organisation”category.CEOs embody the company’s direction,strategy, leadership and management quality(Nguyen-Dang,2005)by adopting,adapting and/or reflecting values related to their organisation.For example,CEOs may adopt company values such as being innovative if they work for an innovative company.In this context their identity and fame are inextricably linked to the reputation of the company,whether that is positive or negative.If there is a congruency between the CEO and organisation brands,both can benefit since one brand endorses the other(Peters,1997;Kapferer,1997) leading to more credible brands for both.In Branson’s case the company values are unsurprisingly similar to those he holds,as he founded Virgin.But although high profile executives can endow company brands,it is organisationalfit that creates brand equity (Srivastava and Shocker,1991),since conflicts will arise if the CEO and company have incongruent brand reputations(Shepherd,2005).The“CEO brand as a person”category includes the human characteristics associated with a brand;its personality and relationships.The brand personality dimension can be described by personality traits which have been clustered by various researchers into different categories(Aaker,1997;Aaker,2003;Hoelter,1985;Malhotra, 1981).Jennifer Aaker(1997),for example,usesfive dimensions(with corresponding subdimensions)for product brands:sincerity,excitement,competence,sophistication and ruggedness.It seems that only some of these proposed personality traits are transferable to the business environment of CEO brands(e.g.intelligent,successful, honest),whereas others are less relevant(e.g.cheerful,up-to-date,charming).Brand personality is important as the basis of the relationship between the brand and its Fame andfortune603customers,or in the case of CEO brands:stakeholders.The nature of such relationships have been described as anything from a rugged outdoor companion (in the case of Levi Strauss),or as a warm and emotional relative (e.g.Hallmark)(Aaker,2003).From the perspective of a CEO brand creator,personality poses some of the most complex challenges,due to the human nature of the product.Of all of the constituent parts of CEO brand identity,personality is the least influenceable.In psychology,personality has been described as the set of relatively stable and general dynamic,emotional and affective characteristics of an individual’s way of being and reacting to situations in which he/she is in (Bloch et al.,1997).For CEO brands it can be assumed that the personality of the brand is largely based on the personality of the executive,since it might be difficult for the individual to constantly behave incongruously with his/her personality.For the brand user (the stakeholder),the brand personality dimension offers self-expressive benefits (Keller,1993),as it provides meaning which the user can incorporate in their own presentation of self.Thus brand personality affects whether users decide that the brand is consistent with their needs (e.g.Dolich,1969;Milewicz and Herbig,1994;Sirgy,1982).Research suggests that a positively perceived brand personality increases consumer preference and usage (Sirgy,1982),evokes emotions in consumers (Biel,1993)and increases levels of trust and loyalty (Fournier,1994).In the case of product brands,the brand personality can be adapted to more closely match that of the stakeholders.However,for CEO brands,a change of brand personality is more difficult,and it might actually be easier to change which stakeholder groups are targeted.Finally,in the “CEO brand as symbol”category,CEO brands can use their appearance can serve as a visual differentiation device,even if they do not use traditional visual brand images.For example Steve Jobs of Apple,wears informal dress such as a shirt,jeans and sneakers,and,like Richard Branson,prefers casual clothes.Both executives have a direct symbolic influence on the stakeholder perceptions of their companies,and their appearance helps to differentiate Apple and Virgin from competitors.In this respect a senior executive’s name and fame is important to identify and differentiate the company,and can trigger customer reaction because brand names are associated with opinions,past actions and expected future actions (Grannel and Jayawardena,2004).Based on this discussion of CEO brand identity,it seems that it is strongest when it is organic,based on inherent values and nurtured to strengthen desired characteristics.One powerful characteristic of Richard Branson,for example,is the fact that he is perceived as authentic and can tell stories about his life,from the days when he sold records from a phone booth,to his attempts to fly around the world in a balloon (Deutschmann,2004).Hence the CEOs identity as a person is as important as their role as managers,and both influence CEO brand identity.Having discussed CEO brand identity on the brand creator side,the perceived brand image and reputation on the stakeholder side needs to be addressed.4.CEO brand image and reputationBrand image or reputation is the stakeholder’s perception of the brand,which may be formed on the basis of a range of variables,including but not restricted to,brand identity.Thus brand image is influenced by how stakeholders,including customers,decode the signals emanating from the product (Aaker,2003;Kapferer,1997).In the case of CEO brands,it is difficult to detach brand image from the image of the personEJM 47,3/4604。