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This paper aims to present the case study of Arçelik, which has become Turkey's leading manufacturer and exporter of home appliances, as a means of offering insight into…
This paper aims to present the case study of Arçelik, which has become Turkey's leading manufacturer and exporter of home appliances, as a means of offering insight into why, how and with what results companies from developing countries expand internationally.
Primary data have been drawn from in‐depth interviews conducted with senior executives and industry experts, and this has been based on a statistical analysis of the export and international strategies of Turkish home appliance and television set industry.
The evidence indicates that international expansion may buffer a firm against fluctuations of demand in its home market and provide opportunities for growth. Difficulties faced by a later arrival from a developing country are greater than established rivals, and a developing country firm will have to rely on different resources and different operational strategies in developed vs developing markets.
Even though one case cannot yield general conclusions, it may indicate fruitful theoretical directions. This study raises issues worthy of further investigation. On the outset, it would be useful to apply the four propositions to more Turkish MNEs in order to test the robustness of the conclusions.
The study has important implications for companies from developing countries. First, international expansion appears to be a viable means of offsetting home‐market volatility for emerging‐country firms. Second, international expansion is still predicated on significant investments in firm‐specific advantages and their development may shorten the internationalization process.
The report contributes to knowledge in the area of international expansion of companies from developing countries by providing evidence on how one company has achieved a world position in a highly competitive market through selective use of quality, innovation, and branding based on the competitive position that is available in each of its chosen markets. In particular, it contributes to the limited evidence on the international expansion of Turkish companies at the present time.
Severe competition in the domestic appliance industry is forcing manufacturers to examine their methods. One company decided that it needed to rationalise both the organisation and the methods of manufacture.
Savage concentrated on building a small world, which is not a probabilistic, but the definite world, in which sure‐thing principle works. He reached Kullback‐Leibler’s…
Savage concentrated on building a small world, which is not a probabilistic, but the definite world, in which sure‐thing principle works. He reached Kullback‐Leibler’s information through Bayes’ theorem, in which he intends to improve personal probability as the a posteriori probability. However, he stopped his thinking there. Akaike obtained Akaike Information Criterion (AIC) by starting from the K‐L information. AIC enables us to evaluate which model is the closest to the true value which we cannot recognise. If we call the context of sure‐thing principle personal probability, Bayes’ theorem and AIC the logical structure of information, the author thinks we have the same structure in relation to the Japanese production and distribution system.
On April 22, 2005, Maytag Corporation's stock price fell 28 percent after the company reported disappointing first-quarter results and significantly reduced its earnings…
On April 22, 2005, Maytag Corporation's stock price fell 28 percent after the company reported disappointing first-quarter results and significantly reduced its earnings outlook for 2005. The company's sales were declining due to increased foreign competition and its production costs were increasing due to higher energy, materials, and distribution costs. Maytag's management and board clearly understood the need to make strategic decisions to turn around the fate of their company. Maytag could propose a drastic turnaround plan and remain independent, sell itself to either a large domestic competitor such as Whirlpool or a foreign firm such as Haier, or it could choose to go private by selling to a financial buyer (Ripplewood).
This case is designed to introduce and to practice concepts relating to the valuation of an acquisition target from the perspectives of a strategic investor and a private equity (leveraged buyout) firm. More specifically, the exercise is intended to address: (1) corporate strategy relating to takeover contests, (2) sources of value creation in acquisitions, and (3) valuation methodologies used to determine target company values.
States that supply industry privatization, its restructuring and strong competition from other fuels means that constant innovation is required in the electric heating…
States that supply industry privatization, its restructuring and strong competition from other fuels means that constant innovation is required in the electric heating business. Credanet is such a product with central programming and remote heater control. Credanet appears similar to a traditional central heating system in its operation and offers superior controllability with its advanced electric heating appliances. Feedback from both end users and specifiers indicate it is considered superior to existing electric heating systems. Credanet’s advanced communication technology also appears suited to other domestic appliances and related areas such as metering.
Ownership and location decisions are at the core of the development of multinational enterprises (MNEs) as they deeply impact the creation and appropriation of value in…
Ownership and location decisions are at the core of the development of multinational enterprises (MNEs) as they deeply impact the creation and appropriation of value in global value chains. Such decisions have been treated by extant literature mostly as oppositions characterized by trade-off alternatives, such as internalization versus externalization and domestic versus offshoring. In this chapter, we discuss the development of a multinational company, that is, De’Longhi, as it has adjusted both ownership and location choices several times over the last 15 years. The case shows that in growing firms, such as De’Longhi, ownership and location decisions are interrelated among each other and with several factors including: interdependences between value chain activities, corporate strategy, organizational culture and the time horizon of the above choices.
Addresses the issue of supply chain competitiveness from the manufacturing capability perspective. Six supply chains are analysed, based on three manufacturers in the…
Addresses the issue of supply chain competitiveness from the manufacturing capability perspective. Six supply chains are analysed, based on three manufacturers in the Korean home appliance industry. The case study findings demonstrate the strong connection between capability requirements of suppliers of critical parts and competitive priorities of manufacturing customers. For suppliers of non‐critical items, delivery and cost are the most important capability dimensions. The factors influencing congruence between customer requirements and the capabilities of constituent firms are also examined. Mutual co‐operative behaviour, specificity of transaction‐related assets, and “criticalness” of traded parts are identified as the key factors influencing congruence.
The latest technology in high solid paints and their application by high speed electrostatic disc or bell was discussed at a symposium organised by Tl Drynamels at the…
The latest technology in high solid paints and their application by high speed electrostatic disc or bell was discussed at a symposium organised by Tl Drynamels at the Post House Hotel, Nottingham, on April 7th. Papers were given by equipment manufacturers, an industrial user, as well as Tl Drynamels specialists. Delegates came from several industries, but particularly the domestic appliance manufacturers.
An empirical analysis is presented of the effects of selectedcontingency variables on the product innovation activities of firms inentertainment electronics and major…
An empirical analysis is presented of the effects of selected contingency variables on the product innovation activities of firms in entertainment electronics and major household appliance industries in West Germany. The following contingency variables were analysed: the size and industry affiliation of the firm, the top management function executed either by owners or salaried managers, and the competitive pressure that a firm has to face. The empirical findings indicate that smaller enterprises, owner‐run firms and those facing comparatively less competitive pressure are especially active in product innovation, while product innovation plays a less significant role in large and manager‐run firms, as well as in enterprises facing intensive competitive pressure. Conclusions are drawn for competitor analysis and business strategies of firms with regard to the German industries considered.
The dramatic expansion in the use and capability of electronic devices in recent years has been facilitated by the substantial development of production techniques. Modern…
The dramatic expansion in the use and capability of electronic devices in recent years has been facilitated by the substantial development of production techniques. Modern electronic circuits as used in the computer, defence, aerospace, vehicle and domestic appliance industries contain a great many joints and these have to be made reliably and economically without degrading sensitive circuit components. This article describes the major microjoining developments currently of interest to the microelectronics industry, with emphasis on the work conducted by the microjoining section of The Welding Institute, much of which has been directly sponsored by the UK Ministry of Defence (DCVD).