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The case was developed from two 2-h interviews with the Chief Operating Officer of A-Basin, Alan Henceroth; there is no CEO of A-Basin. The second interview was recorded on a Zoom call to provide accuracy of quotations and information. A variety of secondary sources were used in terms of better understanding the current state of the ski industry, as well as its history.

Arapahoe Basin (A-Basin) is a historic, moderately sized, ski area with proximity to metropolitan Denver, Colorado. For over 20 years A-Basin partnered with Vail, allowing skiers to use the Vail Epic Pass, for which A-Basin received some revenue from Vail for each skier visit. The Epic Pass allowed pass holders unlimited days of skiing at A-Basin. More and more skiers were buying the Epic Pass, thus increasing the customer traffic to A-Basin. However, the skier experience was compromised due inadequate parking, long lift lines and crowded restaurants. The renewal of the contract with Vail was coming due, and A-Basin had to consider whether to renew the contract with Vail. The case is framed primarily as a strategic marketing case. The authors use Porter’s five forces model to assess the external environment of A-Basin, and the authors use the resource-based view and the VRIO tool to assess A-Basin’s internal strengths. Both frameworks provide useful analysis in terms of deciding whether to continue A-Basin’s arrangement with Vail or end the contract and pursue a different strategy. In 2019, after consultation with the Canadian parent company Dream, A-Basin made the decision to disassociate itself from the Epic Pass and Vail to restore a quality ski experience for A-Basin’s customers. No other partner had ever left its relationship with Vail. An epilogue details some of A-Basin’s actions, as well as the outcomes for the ski area. Generally A-Basin’s decision produced positive results and solidified its competitive position among competitors. Other ski areas have since adopted a similar strategy as A-Basin. A-Basin’s success is reflected in a pending offer from Alterra, Inc., to purchase the ski area.

The A-Basin case can be used in both undergraduate and graduate strategic (or marketing) management courses. It is probably best considered during the middle of an academic term, as the case requires students to apply many of the theoretical concepts of strategy. One of the best books to enable students to use Porter’s five forces is Understanding Michael Porter by Joan Magretta (Boston: Harvard Business Review Press, 2012). Magretta was a colleague of Porter for many years and was an Editor of the Harvard Business Review. For a discussion of the VRIN/VRIO concept, see Chapter 4 of Essentials of Strategic Management by Gamble, Peteraf and Thompson (New York: McGraw-Hill Education, 2019).

The study aims to examine how the information disclosed by the managers in the management discussion and analysis (MD&A) reports varies at the different levels of corporate performance.

To understand this quantile effect, first OLS technique was adopted and then, the quantile regression method was applied to explore the impact of MD&A disclosures on the firm performance across the lower and upper quantiles. The sample size for the study is 490 firms’ year observations for the period 2016–2022.

The results of the study demonstrate the negative but significant relationship between MD&A disclosures and corporate performance, supporting the two management strategies of “competitive disadvantage” in case of good performance and “management impression strategy” in case of poor performance. Furthermore, with other corporate governance variables, both the size of the board and the number of independent directors on the board are positively significant only in the case of the upper quantile indicating the heterogeneity in the relationship between the performance and the MD&A disclosures. Therefore, the overall findings of the study support that these results contradict the agency theory and the stakeholders’ theory as managers are not acting well as agents on behalf of the investors and work well only when they are controlled by the large board having more independent directors.

To the best of the authors’ knowledge, no study so far has incorporated quantile regression to assess the effect of MD&A disclosures on company performance at various levels of the firm performance, which gives more robust insights about the viewpoint of the managers on the different level of the firm performance. In other words, this study highlights the important information as to how the information provided in the MD&A reports varies as per the good or poor performance of the companies.

Corporate social responsibility (CSR) and innovation are the two main approaches firms utilize to promote sustainable development. However, as yet, scholars have reached no consensus regarding their precise impact on construction firm performance (CFP), hindering efforts to implement effective sustainable development strategies that improve CFP. In view that a simple linear relationship may not be sufficient to capture their precise pattern, this study aims to unveil the nonlinear impact of CSR and innovation on CFP, especially when construction firms take up a distinct competitive position.

This study first proposed four hypotheses to establish a new theoretical model by incorporating CSR, innovation, CFP and construction firms' competitive position (CFCP). Then the model was tested by using 292 annual observations collected from 75 construction firms in China. A multiple regression model analysis was carried out to analyze the survey data and validate the hypotheses.

The results reveal that both CSR and innovation have a U-shaped impact on the price-to-book ratio of a construction firm, a specific CFP measure. CFCP negatively moderates the U-shaped relationship between CSR and CFP, but positively moderates the U-shaped relationship between innovation and CFP.

This study goes beyond a simple linear view, instead of unveiling the nonlinear U-shaped effects of CSR and innovation on CFP that deepen the understanding of their complex relationships in the construction industry and makes construction firms aware that CSR and innovation can only improve performance if they reach a certain level. The moderating role of CFCP provides important implications for construction firms seeking to adopt appropriate competitive strategies related to social responsibility and innovation that both promote CFP and achieve sustainable development.

This paper aims to explore the increasing importance of the intraorganizational dimension of the sales role (IDSR) based on service-ecosystem theory. Specifically, it examines how firms can improve interactions both internally and with external actors and stakeholders to both create and sustain advantageous “thin crossing points” (Hartmann et al. 2018). Academic research on sales ecosystems has yet to fully harness the rich insights and potential afforded by the crossing-point perspective.

After developing and unpacking the paper’s guiding conceptual framework (Figure 1), the authors focus on crossing points and the diversity of interactions between the contemporary sales force and its many stakeholders. They examine the sales literature, identify opportunities for thinning sales crossing points and propose dozens of research questions and needs.

The paper examines the importance of improving interactions both within and outside the vendor firm to thin crossing points, further develops the concept of the “sales ecosystem” and contributes a series of important research questions for future examination.

The paper focuses on applying “thick” and “thin” crossing points, a key element of Hartman et al. (2018). The primary limitation of the paper is that it focuses solely on the crossing-points perspective and does not consider other applications of Hartman et al. (2018).

This work informs managers of the need to improve interactions both within and outside the firm by thinning crossing points. Improving relationships with stakeholders will improve many vendor firm and customer outcomes, including performance.

Integrating findings from the literature, the authors propose a conceptual framework to encompass the entire diversity of idiosyncratic interactions as well as long-term relationships the sales force experiences. They discuss the strategic importance of thinning crossing points as well as the competitive disadvantages, even peril, “thick” crossing points create. They propose an ambitious research agenda based on dozens of questions to drive further examination of the IDSR from a sales-ecosystem perspective.

Emphasizing the critical role of technology-enabled distribution in tourism, this study, a viewpoint, aims to highlight the potential of democratized technologies in readdressing the competitive imbalance between small- and medium-sized tourism enterprises (SMTEs) and their larger peers in today’s online marketplace. By enhancing competitiveness and performance, democratized technologies can strengthen the resilience, sustainability and competitive position of the SMTEs on which tourism depends, helping to support the Horizon 2050 agenda and UN’s Sustainable Development Goals.

Examining the development of online and electronic distribution in tourism, the viewpoint identifies the key challenges to the successful use of technology-based distribution systems by SMTEs, as well as highlights the trend toward democratized technologies as a potential solution to help improve technology take-up and performance.

With no/low initial capital or operating costs, and little need for technical expertise, democratized technologies have the potential to overcome two of the three key challenges limiting the successful adoption and use of distribution technologies by SMTES. The key blockage remains one of managerial awareness and acceptability. With informal organization structures, little managerial or technical training and an ingrained reluctance to change, SMTE managers remain unfamiliar of the possibilities offered by this developing trend. While this challenge could be addressed by awareness building and training, in the longer run, it is likely that more substantial progress will arise from generational change in SMTE management, with digitally native successors more likely to exploit this development to improve competitiveness and performance.

Emphasizing the pivotal role that democratized technology can potentially play in redressing the competitive imbalance between SMTEs and their larger peers in the distribution space, this viewpoint serves as a call for action for tourism businesses to re-examine their approach to technology adoption and leverage democratized technologies to address current deficiencies in their distribution approach, helping to improve competitiveness and performance, thus supporting the Horizon 2050 initiative and furthering the UN’s Sustainable Development Goals.

这篇观点论文强调了技术驱动的分销在旅游业中的关键作用, 强调了民主化技术在重新解决中小旅游企业（SMTEs）与其大型同行在当今在线市场中的竞争失衡方面的潜力。通过提高竞争力和绩效, 民主化技术可以加强旅游业所依赖的SMTE的韧性、可持续性和竞争地位, 有助于支持地平线2050议程和联合国可持续发展目标。

该观点论文考察了在线和电子分销在旅游业的发展, 确定了SMTE成功使用基于技术的分销系统的关键挑战, 并强调了将民主化技术作为帮助提高技术使用率和性能的潜在解决方案的趋势。

由于没有/较低的初始资本或运营成本, 也几乎不需要技术专业知识, 民主化技术有可能克服限制SMTES成功采用和使用分销技术的三个关键挑战中的两个。关键的障碍仍然是管理意识和可接受性。由于非正式的组织结构、很少的管理或技术培训以及根深蒂固的不愿改变, SMTE的管理人员仍然不熟悉这一发展趋势所提供的可能性。虽然这一挑战可以通过提高认识和培训来解决, 但从长远来看, SMTE管理的代际变革可能会带来更大的进展, 数字原生继任者更有可能利用这一发展来提高竞争力和绩效。

强调民主化技术在纠正SMTE与其在分销领域的大型同行之间的竞争失衡方面可能发挥的关键作用, 本文呼吁旅游企业采取行动, 重新审视其采用技术的方法, 并利用民主化技术来解决其分销方法中的当前缺陷, 帮助提高竞争力和绩效, 从而支持地平线2050倡议, 推动联合国的可持续发展目标。

Haciendo hincapié en el papel fundamental de la distribución posibilitada por la tecnología en el turismo, este punto de vista destaca el potencial de las tecnologías democratizadas para corregir el desequilibrio competitivo entre las Pequeñas y Medianas Empresas Turísticas (PYMETs) y sus homólogas de mayor tamaño en el mercado online actual. Al mejorar la competitividad y el rendimiento, las tecnologías democratizadas pueden reforzar la resistencia, la sostenibilidad y la posición competitiva de las PYMETS de las que depende el turismo, contribuyendo así a apoyar la agenda Horizonte 2050 y los Objetivos de Desarrollo Sostenible de la ONU.

Examinando el desarrollo de la distribución online y electrónica en el turismo, el punto de vista identifica los desafíos clave para el uso exitoso de los sistemas de distribución basados en la tecnología por parte de las PYMETs, así como destaca la tendencia hacia las tecnologías democratizadas como una solución potencial para ayudar a mejorar la adopción y el rendimiento de la tecnología.

Con unos costes iniciales de capital o de funcionamiento nulos o bajos, y poca necesidad de conocimientos técnicos, las tecnologías democratizadas tienen el potencial de superar dos de los tres retos clave que limitan la adopción y el uso con éxito de las tecnologías de distribución por parte de las PYMETs. El bloqueo clave permanece en la concienciación y la aceptación por parte de los directivos. Con estructuras organizativas informales, escasa formación técnica o de gestión y una arraigada reticencia al cambio, los directivos de las PYMETs permanecen desconocedores de las posibilidades que ofrece esta tendencia en desarrollo. Aunque este reto podría abordarse mediante la concienciación y la formación, a largo plazo es probable que surjan progresos más sustanciales del cambio generacional en la gestión de las PYMETs, con sucesores nativos digitales más propensos a explotar este desarrollo para mejorar la competitividad y el rendimiento.

Haciendo especial hincapié en el potencial y fundamental papel que la tecnología democratizada puede desempeñar a la hora de corregir el desequilibrio competitivo entre las PYMETs y sus homólogas de mayor tamaño en el espacio de la distribución, este punto de vista sirve de llamada a la acción para que las empresas turísticas reexaminen su enfoque de la adopción de tecnología y aprovechen las tecnologías democratizadas para subsanar las deficiencias actuales en su enfoque de la distribución, ayudando a mejorar la competitividad y el rendimiento, apoyando así la iniciativa Horizonte 2050 y fomentando los Objetivos de Desarrollo Sostenible de la ONU.

This study aims to investigate the conflicting views in supply chain and strategic management literature regarding cooperative supply chain relationships (CSCR) and firm performance. Supply chain literature suggests a universally positive impact of CSCR on performance, irrespective of a firm’s strategy. In contrast, strategic management literature contends that the effectiveness of CSCR depends on their alignment with the firm’s competitive strategy. The research aims to clarify this disparity, offering insights into the strategic use of CSCR for enhancing firm performance.

This paper theorizes the integration of perspectives for the impact of CSCR on firm performance by examining the relationships considering the alignment of cost leadership and product differentiation strategies with supplier and customer relationships. Plant-level survey data is analyzed using regression techniques to test four hypotheses.

All four main relationships (cost leadership, product differentiation, supplier relationship and customer relationship) on firm performance are statistically significant. However, cost leadership firms are better aligned to their chosen strategy when they have strong relationships with suppliers, whereas similar relationships with customers create misalignment, negatively influencing firm performance. In contrast, product differentiators benefit by investing in relationships with customers rather than with suppliers.

A firm’s performance does not solely depend on its CSCR efforts but on aligning them with the firm’s overall strategy. Therefore, managers need to be cognizant of the firm’s competitive strategy when investing in CSCR. Failing to do so could negatively impact firm performance and, eventually, its ability to compete in the marketplace.

Scholars have advocated for the importance of examining competing perspectives of phenomena, both within and across various bodies of literature, as cross-disciplinary analysis often brings enhanced focus and depth, leading to improved understanding. This research is one of the initial efforts to empirically analyze the varying perspectives on CSCR in supply chain and strategic management literature. This cross-disciplinary approach can yield a more integrated perspective.

After completion of the case study, the students will be able to illustrate issues in offline marketing and strategy for an in-store business, familiarize students with the challenges involved in the decision-making in integrating online and offline marketing strategies, evaluate the advantages and disadvantages of online and offline marketing and motivate students to apply marketing strategies to real-world business situations

Deepa Kumar, the founder of Yashram Lifestyle, had successfully built a niche brand with a strong online presence in the lingerie industry. Yashram Lifestyle was known for its innovative products and commitment to addressing the real-life vulnerabilities faced by women at different stages of life. With a vision to be a one-stop destination for all intimate and practical needs of women and girls, Yashram had introduced unique products such as period panties, starter bras, incontinence underwear and hygiene panties. On the contrary, Kumar acknowledged that offline marketing strategies, such as pop-up stores, collaborations with physical retailers and participation in industry events, could provide valuable insights into customer preferences, enhance brand visibility and foster direct customer engagement. Offline channels might also enable Yashram Lifestyle to better understand the market dynamics and further drive product innovation. However, owing to the associated costs, logistics and potential risks, Kumar was apprehensive about venturing into offline marketing. She wondered whether Yashram Lifestyle had the necessary assets and expertise to successfully scale up its operations while making these alternate decisions. Furthermore, she questioned herself whether offline marketing efforts would be worth the investment and whether they could lead to substantial growth and increased market share for Yashram Lifestyle.

The purpose of this case study is to provoke critical thought among undergraduate and postgraduate business and management students about Kumar’s potential course of action for Yashram Lifestyle to engage in offline marketing. It applies to the implementation of marketing strategy.

Teaching notes are available for educators only.

CSS 8: Marketing.

In recent decades, emerging market multinational enterprises (EMNEs) have predominantly adopted a big step internationalization strategy to expand their business overseas. This study aims to examine the effect of big step internationalization on the speed of subsequent foreign direct investment (FDI) expansion for EMNEs. The authors also investigate the potential boundary conditions.

The authors use the random effects generalized least squares (GLS) regression following a hierarchical approach to analyze the panel data set conducted by a sample of publicly listed Chinese firms from 2001 to 2012.

The findings indicate that implementing big step internationalization in the initial stages accelerates the speed of subsequent FDI expansion. Notably, the authors find that this effect is more pronounced for firms that opt for acquisitions as the entry mode in their first big step internationalization and possess a board of directors with strong political connections to their home country’s government. In contrast, the board of director’s international experience negatively moderates this effect.

This study provides insights into our scholarly and practical understanding of EMNEs’ big step internationalization and subsequent FDI expansion speed, which offers important implications for firms’ decision-makers and policymakers.

This study extends the internationalization theory, broadens the international business literature on the consequences of big step internationalization and deepens the theoretical and practical understanding of foreign expansion strategies in EMNEs.

This chapter investigates whether, and if so, how particular firms in a transition economy are involved in bribery. Built on pressure theories, we explain how the direct effects of firm characteristics and contextual characteristics determine firm bribery behavior. Entrepreneurs make choices based on perceptions of a specific pressure due to organizational characteristics (internal pressures) or due to context (external pressures). The relationship between firm characteristics, context, and bribery was estimated using unique data from a survey of 606 Vietnamese entrepreneurs. We controlled for various entrepreneurial, organizational, and industrial characteristics. The exploratory findings support firm attributes hypotheses, which is a negative relationship between firm size and bribery and a nonmonotonic U-shaped relationship between firm age and bribery. Besides, the effects of context on bribery are also found. Specifically, the result supports a positive relationship between competition and bribery and a negative relationship between the quality of the government and bribery.

This study examines the impact of China’s mixed-ownership reform on the innovation of non-state-owned acquirers, with a particular focus on the impact on firms with high financing constraints, low-quality accounting information or less tangible assets.

We use a proprietary dataset of firms listed on the Shanghai and Shenzhen Stock Exchanges to investigate the impact of mixed ownership reform on non-state-owned enterprise (non-SOE) innovation. We employ regression analysis to examine the association between mixed ownership reform and firm innovation.

The study finds that non-state-owned firms can improve innovation by acquiring equity in state-owned enterprises (SOEs) under the reform. Eased financing constraints, lowered financing costs, better access to tax incentives or government subsidies, lowered agency costs, better accounting information quality and more credit loans are underlying the impact. Additionally, cross-ownership connections amongst non-SOE executives and government intervention strengthen the impact, whilst regional marketisation weakens it.

This study adds to the literature on the association between mixed ownership reform and firm innovation by focussing on the conditions under which this impact is stronger. It also sheds light on the policy implications for SOE reforms in emerging economies.