Search results

Selecting and scheduling optimal project portfolio simultaneously is a complex decision-making problem faced by organizations to realize the strategy. However, dynamic synergy relationships among projects complicate this problem. This study aims at constructing a project portfolio selection and scheduling (PPSS) model while quantifying the dynamic synergetic effects to provide decision support for managing PPSS problems.

This study develops a mathematical model for PPSS with the objective of maximal project portfolio benefits (PPBs). To make the results align with the strategy, comprehensive PPBs are divided into financial and non-financial aspects based on the balanced scorecard. Then, synergy benefits evolve dynamically in the time horizon, and system dynamics is employed to quantify them. Lastly, a case example is conducted to verify the applicability of the proposed model.

The proposed model is an applicable model for PPSS while incorporating dynamic synergy. It can help project managers obtain the results that which project should be selected and when it should start while achieving optimal PPBs.

This study complements prior PPSS research in two aspects. First, financial and non-financial PPBs are designed as new criteria for PPSS, making the results follow the strategy. Second, this study illuminates the dynamic characteristic of synergy and quantifies the synergetic effect. The proposed model provides insights into managing a PPSS effectively.

The purpose of this paper is to propose a theoretical framework for renewable energy (RE) technology commercialization and partnership synergy. The interrelations/influences between external/internal factors, stakeholders’ partnership synergy, and resources in the form of dynamic capabilities and implementation mechanisms are used in this framework to explore the path toward overcoming non-technical barriers for RE technologies commercialization success.

Prior relevant research/literature is reviewed to derive the proposed theoretical framework constructs, while insight information on relationship between them is gained through case study methodology. The results of four case studies along with 16 validity/checkpoint interviews were used to support/reject 25 propositions linking the constructs.

The findings of the study supported 24 out of 25 propositions representing these relations, whereas one was rejected. The framework suggests that partnership synergy, if achieved, produces a unique internal and external resource combination that will result in successful technology commercialization.

This study is limited to RE technologies and did not focus individually on non-technical barriers. Future research may extend into other industries and explore the impact of partnership synergy on each non-technical barrier of technology commercialization.

Due to absence of economic theory of synergy there is a gap in academic literature regarding partnership between stakeholders of innovative technologies, the level of its synergy and their relation to successful commercialization. The study attempts to fill this gap to some extent through the produced theoretical framework, which might also help a broad array of RE projects’ participants maximize the returns by realizing full advantage of collaboration with other stakeholders.

This paper aims to operationalize and to test the ARCTIC (A – Advantage, R – Relatedness, C – Complexity of Competence, T – Time of Integration, I – Implementation Plan, C – Cultural Fit) framework to assess the prerequisites of competence-based synergy in the acquisition process. The current research provides new analyses of recent acquisitions in the global beauty industry where the ARCTIC framework was satisfied and where the ARCTIC model was NOT satisfied by decisive factors to get the acquisition's synergies. It allows readers to contrast two case studies and grasp how the framework works in greater detail.

The current research relies on an extensive archival search that included financial statements, annual reports, internal documents, industry publications and CEO statements to get at a micro-level understanding. This boosts research data and the operationalization of the ARCTIC framework.

The research identified four steps for investigating whether core competence transfer in an acquisition process would be a source of competence-based synergies. The incorporation of real options into the synergy valuation measures market value-added arising from M&A deals.

The current paper contributes to theoretical and practical issues of global M&As as part of the existing literature of international business and strategic management. The impact on reciprocal synergies of agency problems, external interaction between CEOs in M&A deals, corporate governance systems and an executive compensation theory are promising areas of future research.

El presente artículo pretende poner en práctica y a prueba el esquema ARCTIC a fin de evaluar los requisitos previos de la sinergia basada en las competencias en el proceso de adquisición. Este estudio ofrece nuevos análisis de las recientes adquisiciones acontecidas en el sector de la belleza a nivel mundial en las que se siguió el esquema ARCTIC y en las que NO se siguió por factores decisivos para conseguir las sinergias de la adquisición. Permite a los lectores contrastar dos casos prácticos y comprender con mayor detalle cómo funciona el esquema.

Para el estudio actual se ha llevado a cabo una amplia búsqueda de archivos entre los que se incluyen balances financieros, informes anuales, documentación interna, publicaciones del sector y declaraciones del director general para obtener una comprensión pormenorizada. De este modo, se potencian los datos de la investigación y la puesta en práctica del esquema ARCTIC.

En el estudio se han identificado cuatro pasos que determinan si la transferencia de competencias básicas en un proceso de adquisición sería el origen de sinergias basadas en las competencias. La incorporación de opciones reales en la evaluación de las sinergias mide el valor añadido del mercado derivado de las operaciones de fusión y adquisición.

Este artículo contribuye a los aspectos teóricos y prácticos de las fusiones y las adquisiciones mundiales como parte de la bibliografía existente sobre comercio internacional y gestión estratégica. El impacto de las sinergias recíprocas de problemas del agente-principal, las interacciones externas entre directores generales en acuerdos de fusiones y adquisiciones, los sistemas de gobernanza empresarial y una teoría de la compensación ejecutiva son campos prometedores para futuras investigaciones.

This study aims to contribute with an extended framework on synergy realisation in acquisitions. The study conceptualises synergy realisation after acquisitions, in interaction with other companies in a business network and that synergy can be the result of both intended and not intended actions.

The study is based on a company involved in acquisitions, being both the acquirer and the acquired. The data for analysis were collected through semi-structured interviews with managers involved in the described acquisition processes. The semi-structured interviews were guided by overarching themes to cover relevant areas of the described acquisitions.

This study develops a framework in which synergy is used as a concept in business networks. The framework offers a more dynamic perspective on acquisition processes and extends the view of acquisition performance beyond more financial and company internal aspects of acquisition processes. Further, the findings show that related companies such as customers and suppliers, play important roles in synergy realisation.

From a managerial perspective, the study shows the importance of understanding the underlying forces of integration processes.

The concept of synergy used in this study not only includes the companies integrated in an acquisition but also their business networks. Including the integrated companies and their business networks provides a more dynamic perspective from which to plan and realise synergy.

Research on strategic alliances is concerned with two issues: continuation and reconfiguration. Building on prior research that examines the two issues separately, the paper studies them simultaneously. This paper aims to investigate how strategic alliances may exert the synergetic effect between dynamics and stability as well as to discuss the dynamic evolution process and influence factors of strategic alliances.

This paper describes the construction of a two-party evolutionary game model of alliance and partners. The model is used to analyze the evolution process of synergetic mechanism to determine when to terminate and when to continue with a partnership. Further, numerical simulation is used to quantify the results and to gain insight into the effects of various factors on the dynamic evolution of the synergetic mechanism.

This paper reveals several synergetic states of dynamics and stability in the alliances. The results show that synergy states are positively affected by the collaborative innovation benefits, alliance management capability, the intensity of intellectual property protection, liquidated damages and reputation losses, and negatively affected by the absorptive capacity of partners.

The study helps the alliance to achieve long-term development as well as to balance the paradoxical relationship. The results suggest that managers of strategic alliances should focus on building strong and long-term relationships in order to achieve high performance innovations. Managers should also pay close attention to their partners’ behaviors in previous alliances.

This paper provides new insights into the paradoxical relationship in alliance by revealing the evolution of synergetic mechanism between dynamics and stability. The results remind alliances to understand the relationship between dynamics and stability and to notice the influence factors of synergistic effects when they are making decisions.

M&A success and synergies are regularly discussed in the practical literature, but synergies are typically treated as a static concept (how do you get them?) with little discussion of financial bet acquirers create in paying an up-front premium. We describe the importance of investor reactions, the nature of the challenge, and discuss synergies as a process with five rules of the road covering M&A strategy, diligence, culture, leakage, and validation and reporting. Potential acquirers must be better prepared before they commit these major capital investments, involving multiple stakeholders throughout the process of creating the value they are promising with M&A.

We report the important results of our 24-year study on acquirer performance, the persistence of investor reactions, and the role of the acquisition premium to support our position that synergies must be trackable and defendable before and after deal announcement. From our collective author experience of advising on many hundreds of synergy programs over the years, we distilled our experience based on the common lack of understanding of what is required by executives, and when, and what we have seen greatly improve the odds of success in achieving sufficient M&A synergies.

Major findings include: 1. Initial market reactions are good predictors of the future, most deals persist, positive or negative, and there is a big spread of returns between winners and losers with losers paying the highest premiums; 2. Premiums additions to target’s growth value and may require larger performance increases than acquirers expect; 3. Synergies are a dynamic process involving multiple stakeholders from becoming a prepared acquirer in M&A strategy, building an early synergy roadmap during diligence, understanding that culture and change issues launch at announcement and preparation must begin long before, anticipating leakage, and validating and reporting post-close.

Our study is original covering three waves of mergers over 24 years; we formalize the synergy challenge created by paying a premium with respect to the already existing growth expectations for the target; we make clear that ultimately validating synergies begins with M&A strategy and diligence through to the workings of an Integration Management Office, anticipating synergy leakage, and preparing employees for change.

The purpose of this paper is to propose a model to explore the dynamic process of knowledge management from the perspectives of organizational unlearning and organizational relearning, which promote a favorable context for knowledge management.

The model is proposed based on extensive review of literatures. According to this model, the evolutions of organizational unlearning and organizational relearning are separately analyzed, and the interactions between them are revealed.

Organizational unlearning and organizational relearning are the indispensable factors to the dynamic knowledge management. Organizational unlearning positively affects the dynamic knowledge management by discarding the outdated and useless knowledge, while organizational relearning has a positive influence on the dynamic knowledge management by acquiring the new knowledge. Organizational unlearning and organizational relearning have synergies on the dynamic knowledge management.

This paper theoretically illuminates the relationships among organizational unlearning, organizational relearning and knowledge management, and doesn't offer an empirical test.

This paper will provide insights to practitioners to better understand the dynamic process of knowledge management. The practitioners need to provide favorable context to ensure that organizational unlearning and organizational relearning can occur.

Most existing studies focused on the inflows of knowledge, but the outflows of knowledge still lack sufficient attention, especially the dynamic process of knowledge management. The framework provides guides in that process.

The purpose of this paper is to develop a model considering synergy effect for prefabricated construction service combination selection.

This research defines prefabricated construction service as a service-led construction method that meets the specific requirements of clients. Based on network theory, the multi-dimensional collaborative relationships of the prefabricated construction inter-services are formulated. The synergy effect is quantitatively calculated through the linear weighting of the strengths of collaborative relationships. Further, a weighted synergy network (WSN) is developed, from which a service composition selection model considering the synergy effect is established. Then, a genetic algorithm is employed to implement the model.

The results showed that (1) when the number of prefabricated construction services is increased, the synergy effect of combination options is enhanced; (2) The finer-grained prefabricated construction services, the stronger the synergy effect of service combination; (3) Clients have heterogeneous preferences for collaborative relationships, and there are differences in the synergy effect of service combination.

The contribution of this research includes proposed a method to quantify the synergy effect from the perspective of collaborative relationships, explored the specific procedure for the prefabricated construction service combination selection under the service-led construction, and provided a reference for promoting the development in construction. Besides, the model proposed could be applied to prefabricated construction service composition selection with diverse research boundaries or client preferences by executing the same procedure.

The author argues and explains that the indigenous Eastern epistemological frame of yin-yang balancing can be taken as a unique system of thinking toward a meta-perspective. It is not only deeply rooted in the indigenous Eastern culture traditions, but also bears salient global implications, especially in the domain of paradox management. The purpose and contribution of this chapter are twofold: (1) to explain the unique and salient features of yin-yang balancing (the “either/and” system to reframe paradox into duality as partially conflicting and partially complementary, both spatially and temporarily) as compared with the Western logic systems (the “either/or” and “both/or” or “both/and” systems); and (2) to explore the global implications of the “either/and” system for future paradox research, including the three unique themes of overlap between opposites with the “seed” of one opposite inside the other; threshold from the contingent balance between partial separation and partial integration in line with specific contexts through three operating mechanisms, and knot for the special role of third-party to shift paradox from a dyadic level to a triadic and even a multiplex level.