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This study discusses the problems of organising competitive intelligence activities in a corporate organisation. Traditionally in many large corporations the collection…
This study discusses the problems of organising competitive intelligence activities in a corporate organisation. Traditionally in many large corporations the collection, interpretation and analysis of competitive information has been assigned to a specialised intelligence or competitor analysis unit in order to exploit the synergy created by centralisation. This organising mechanism has, however, serious shortcomings that are considered in this study. It is debated that this centralised and systematic approach to managing and exploiting competitive information ignores the actual ways that managers and other knowledge workers utilise information resources in their work processes. An empirical study was made in a multinationally operating Finnish forest industry company in order to examine, what kind of competitive information managers and other knowledge workers need in their work processes, what were the most valuable information sources and how this information was actually utilised and communicated inside the corporation. The results of this empirical study are discussed. Some guidelines are provided to improve the process of coordinating and combining both systematically and unsystematically collected competitive information into a coherent organisational mechanism.
The concept of co‐operation amongst competitors has been considered for some time in the marketing literature generally, and in the small firm marketing literature…
The concept of co‐operation amongst competitors has been considered for some time in the marketing literature generally, and in the small firm marketing literature specifically. However, despite the recognition that small firms do co‐operate, there has been comparatively little attention paid to the ways in which such co‐operation takes place. Co‐operation amongst small firms tends to be only conceptualised as a group of competitors banding together to create a market presence and compete against larger, more established firms. Based on a series of in‐depth interviews with owner‐managers of small firms in a wide array of industry sectors, this paper examines the relationships that small firm owner‐managers maintain with their competitors. Specifically it reports that cooperation between competitors takes place at various levels with so‐called joint venture arrangements such as that described above, representing just one type of co‐operative behaviour. It further highlights the circumstances where co‐operation is likely to occur and how this co‐operation is manifest by examining the motivations for co‐operation and expected and actual outcomes. It also discusses the factors which may preclude cooperation between small firms and their competitors. Such factors include the nature of the industry sector, the level of competition in the market, the size of the competing firms, the age of the small firm, the existence of an association that represents the industry, the perceived level of professionalism within the industry and trust amongst firms.
Although critical to profitable pricing, competitive strategy is often overlooked in the pricing process. This often leads to poorly developed competitive actions with…
Although critical to profitable pricing, competitive strategy is often overlooked in the pricing process. This often leads to poorly developed competitive actions with profitability suffering. This paper provides a comprehensive integrated process for the strategic management of the connection between pricing and competitive strategy. The use of the process proposed here provides active management of competitive interactions and significantly improves profitability.
This chapter’s aim is to outline and highlight the components of strategic planning and management framework, as well as the value and utility of strategic analysis and…
This chapter’s aim is to outline and highlight the components of strategic planning and management framework, as well as the value and utility of strategic analysis and competitor analysis.
Extensive literature review was conducted on conceptual issues and management aspects of human resources management. A practical approach has been adopted and implemented to illustrate the value of strategic analytical tools.
This chapter provides a description and an understanding of how the analyses and tools of strategic planning and management could be used to plan and implement a business venture better. It discusses the tools enhancing the analysis of the business environment in the field of tourism.
This study is explorative in nature because the discussion is mostly based on a literature review. It takes more entrepreneurial/practical than academic approach.
The analyses of the business environment and of the competition in an industry are tasks of critical importance. If these analyses are adequately performed, the probability of success may increase. This chapter discusses the purpose, the process and the implementation of tools of strategic analysis and competitor analysis. Practical recommendations and steps are also provided.
The analytical frameworks, tools and techniques discussed in this chapter should enhance prospective entrepreneurs to adequately perform their task of analysing the tourism business environment.
Despite some attempts to integrate the market orientation construct into the international marketing area, most conceptual and empirical studies have been conducted in the…
Despite some attempts to integrate the market orientation construct into the international marketing area, most conceptual and empirical studies have been conducted in the context of domestic operations. To address this gap we examine whether competitive intensity moderates the relationships among the components of market orientation and export performance. Data was used from 197 Brazilian export companies. Results suggest that interfunctional coordination enhances customer and competitor orientation. Moreover, customer orientation has no direct effect on export performance, while competitor orientation has a positive effect on firm’s international performance. Findings also indicate that competitive intensity moderates all the relationships tested in the model.
This study examines how firms’ use of competitor-focused accounting information, specifically competitor monitoring information, impacts their pricing, demand, and overall…
This study examines how firms’ use of competitor-focused accounting information, specifically competitor monitoring information, impacts their pricing, demand, and overall revenue performance. The monitoring activities examined are the scope of monitoring, monitoring above and below one’s own hotel class (i.e., market segment), and the extent of reciprocity of monitoring. Competitor analysis is a central element in strategic management accounting (SMA), yet little empirical research has been done since companies do not disclose competitor monitoring activities. Proving the value of competitive monitoring provides strong support for SMA. Archival, proprietary monitoring information regarding pricing, demand, and revenue were obtained from one of the largest hotel markets in the United States. Using regression, we modeled the relationships between performance measures (pricing, demand, and revenue) and monitoring behaviors, while controlling for quality (hotel characteristics and management skill), competitive intensity, hotel class, geographic location, and ownership type. Our results indicate that two aspects of competitor monitoring impact hotel pricing that, in turn, impacts hotel demand and revenue performance. Specifically, a hotel monitoring more competitors (what we refer to as Scope) achieves higher prices with unchanged demand, resulting in higher revenue performance. Most hotels monitor within their class. However, deviating from one’s class has profound outcomes: looking at lower (higher) quality hotels results in a hotel setting lower (higher) prices, resulting in higher (unchanged) demand and lower (higher) revenue performance. Surprisingly, we did not find support for the reciprocity of monitoring. That is, whether the competitors monitored by a hotel, in turn follow the target, has no impact on hotel revenue performance outcomes. While the SMA literature notes the importance of competitor monitoring, this study fills a gap in an important, under-researched area by documenting the link between competitor monitoring behaviors and organizational revenue performance. This may help promote greater diffusion of SMA practices.
This paper describes how firm characteristics evolve in different industries. In particular, it reports on relationships between industry performance and competitor…
This paper describes how firm characteristics evolve in different industries. In particular, it reports on relationships between industry performance and competitor diversity in the American economy from 1981 to 1997. Industry performance is measured using a prospective measure of performance (Tobin's q) and a measure of performance that reflects historical competence (accounting profitability). Competitor diversity is characterized by differences in size, operating margin, asset composition, and asset utilization. The results indicate significant diversity among competitors in both high- and low-performance industries. The study suggests that low industry performance may be associated with processes of transition in competitor characteristics.
The study here responds to the view that the crucial problem in strategic management (research) is firm heterogeneity – why firms adopt different strategies and…
The study here responds to the view that the crucial problem in strategic management (research) is firm heterogeneity – why firms adopt different strategies and structures, why heterogeneity persists, and why competitors perform differently. The present study applies complexity theory tenets and a “neo-configurational perspective” of Misangyi et al. (2016) in proposing complex antecedent conditions affecting complex outcome conditions. Rather than examining variable directional relationships using null hypotheses statistical tests, the study examines case-based conditions using somewhat precise outcome tests (SPOT). The complex outcome conditions include firms with high financial performances in declining markets and firms with low financial performances in growing markets – the study focuses on seemingly paradoxical outcomes. The study here examines firm strategies and outcomes for separate samples of cross-sectional data of manufacturing firms with headquarters in one of two nations: Finland (n = 820) and Hungary (n = 300). The study includes examining the predictive validities of the models. The study contributes conceptual advances of complex firm orientation configurations and complex firm performance capabilities configurations as mediating conditions between firmographics, firm resources, and the two final complex outcome conditions (high performance in declining markets and low performance in growing markets). The study contributes by showing how fuzzy-logic computing with words (Zadeh, 1966) advances strategic management research toward achieving requisite variety to overcome the theory-analytic mismatch pervasive currently in the discipline (Fiss, 2007, 2011) – thus, this study is a useful step toward solving the crucial problem of how to explain firm heterogeneity.
Organizations create their environments by constructing interpretations and then acting on them as if they were true. This study examines the cognitive spatial boundaries…
Organizations create their environments by constructing interpretations and then acting on them as if they were true. This study examines the cognitive spatial boundaries that managers of Manhattan hotels impose on their competitive environment. We derive and estimate a model that specifies how the attributes of managers’ own hotels and potential rival hotels influence their categorization of competing and non-competing hotels. We show that similarity in geographic location, price, and size are central to managers’ beliefs about the identity of their competitors, but that the weights they assign to these dimensions when categorizing competitors diverge from their influence on competitive outcomes, and indicate an overemphasis on geographic proximity. Although such categorization is commonly conceived as a rational process based on the assessment of similarities and differences, we suggest that significant distortions can occur in the categorization process and examine empirically how factors including managers’ attribution errors, cognitive limitations, and (in)experience lead them to make type I and type II competitor categorization errors and to frame competitive environments that are incomplete, erroneous, or even superstitious. Our findings suggest that understanding inter-firm competition may require greater attention being given to the cognitive foundations of competition.
We investigate global competitors’ reaction to the Citicorp–Travelers mega merger announcement and find that global competitors, especially banks in Europe and the US…
We investigate global competitors’ reaction to the Citicorp–Travelers mega merger announcement and find that global competitors, especially banks in Europe and the US, reacted positively to the Citicorp and Travelers’ merger announcement. The uncertainties created by the investigations into the merger proposal had significant impact on the competitors’ stock price. The announcement that the merger had been consummated also elicited a significantly positive reaction from the rivals following the resolution of uncertainties emanating from the regulatory challenges. The positive reaction by competitors suggests that the merger was a wealth-creating event for the large firms in the financial services industry. The expected benefits outweighed any competitive effects resulting from the merger. The competitors’ reaction was, however, not homogenous. Our cross-sectional analysis shows that the abnormal returns earned by the competitors were higher the larger the competitor. In addition, the abnormal returns were greater for the US rivals. That the global competitors reacted positively to the Citicorp–Travelers mega merger announcement is consistent with our assertion that the merger had ramifications that go beyond regulatory concerns in the US.