Transcript Введение в международный менеджмент

INTERNATIONAL BUSINESS STRATEGIES
Andrey G. Medvedev,
Professor
CEMS MIM Programme
September 29, 2009
6. INTERNATIONAL STRATEGIC ALLIANCES
1. STRATEGIC ALLIANCES
2. TYPOLOGY OF INTERNATIONAL STRATEGIC ALLIANCES
3. STRUCTURE OF STRATEGIC ALLIANCES
4. ALLIANCE FORMATION AND IMPLEMENTATION FRAMEWORK
5. EFFECTIVENESS OF STRATEGIC ALLIANCES
© Andrey Medvedev
INTERNATIONAL STRATEGIC ALLIANCES
Responsibilities of International Manager:
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Understand the strategic context of an alliances
Undertake partner analysis
Design the alliance legal and organisational structure
Develop implementation mechanism
© Andrey Medvedev
INTERNATIONAL STRATEGIC ALLIANCE
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STRATEGIC ALLIANCE IS AT LEAST TWO COMPANIES
COMBINING VALUE CHAIN ACTIVITIES FOR THE PURPOSE
OF ENHANCING THEIR COMPETITIVE ADVANTAGE
AND/OR CREATING NEW BUSINESSES
WITHOUT LOOSING THEIR RESPECTIVE STRATEGIC
AUTONOMY
Market
contract
Alliance
Merger of
capabilities
© Andrey Medvedev
OBJECTIVES OF INTERNATIONAL STRATEGIC
ALLIANCES
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LOCAL (COUNTRY) STRATEGIC ALLIANCE
– MARKET ENTRY ALLIANCE
– RESOURCE ACCESS ALLIANCE
– OFTEN ORGANISED AS A COUNTRY-BASED JOINT VENTURE
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GLOBAL STRATEGIC ALLIANCE
– GLOBAL REACH SEEKERS
(DEVELOPING GLOBAL MARKET PRESENCE)
– GLOBAL LEVERAGE SEEKERS
(ENHANCING THE WORLD-WIDE COMPETITIVE CAPABILITIES)
© Andrey Medvedev
ADVANTAGES
OF LOCAL STRATEGIC ALLIANCES
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FOREIGN PARTNER
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LOCAL PARTNER
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INCREASE IN MARKET
PENETRATION
PROFITS FROM DIVIDENDS,
TRANSFER PRICES,
AND MANAGEMENT FEES
ACCESS TO LOCAL
NATURAL RESOURCES
AND SKILLS
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ACCESS TO FOREIGN
PRODUCT AND PROCESS
TECHNOLOGY, KNOW-HOW,
AND MANAGERIAL
EXPERTISE
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© Andrey Medvedev
GLOBAL STRATEGIC ALLIANCES
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COALITIONS
–
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ALLIANCES IN THE SAME INDUSTRY
SEARCH FOR GLOBAL REACH; ‘SIZE’ IS ESSENTIAL
CO-ORDINATING GEOGRAPHIC ASSETS, POOLING CAPABILITIES
COST REDUCTION OR COMPETITIVENESS GROWTH
CO-SPECIALISATIONS
– COMPLEMENTARY CAPABILITIES (ASSETS, RESOURCES)
– EACH PARTY CONCENTRATES ON WHAT IT IS GOOD
– CREATION OF NEW BUSINESS OR NEW PRODUCTS/PROCESSES
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LEARNING ALLIANCES
– EXCHANGE OF TECHNOLOGY, KNOW-HOW, INFORMATION, SKILLS
© Andrey Medvedev
LEGAL STRUCTURE
OF STRATEGIC ALLIANCES
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NO OWNERSHIP
– LONG-TERM CONTRACT AGREEMENTS
– JOINT PROJECTS
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SOME OWNERSHIP
– MINORITY EQUITY PARTICIPATION
– JOINT EQUITY PARTICIPATION (CROSS-OWNERSHIP)
– JOINT VENTURE (A NEW SEPARATE LEGAL ENTITY)
© Andrey Medvedev
DYADIC AND MULTILATERAL
STRATEGIC ALLIANCES
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DYADIC STRATEGIC ALLIANCES
– INVOLVE ONLY TWO PARTNERS
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MULTILATERAL STRATEGIC ALLIANCES
– NETWORKS
ONE ALLIANCE – SEVERAL PARTNERS
– PORTFOLIOS
ONE PARTNER – SEVERAL ALLIANCES
– WEBS
SEVERAL PARTNERS – SEVERAL ALLIANCES
© Andrey Medvedev
INTERNATIONAL NETWORKS
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NETWORKS TAKE ACCOUNT OF PARTNERS’ INTERACTIONS
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CO-ORDINATION OF FIRMS’ ACTIVITIES
IS ACHIEVED THROUGH THESE INTERACTIONS
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ROLE OF EACH FIRM IN THE NETWORK
HAS TO BE DEFINED CLEARLY
© Andrey Medvedev
STRATEGIC ALLIANCE:
SKYTEAM
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SkyTeam is a strategic alliance of airlines.
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With its 11 member airlines SkyTeam provides 16,409 daily flights to
841 destinations in 162 countries.
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The alliance members are Aeroflot, Aeromexico, Air France – KLM
Group, Alitalia, China Southern, Continental Airlines, CSA, Delta Air
Lines Inc., Korean Air, Northwest Airlines.
© Andrey Medvedev
STRATEGIC ALLIANCE FORMATION
AND IMPLEMENTATION FRAMEWORK
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FORMULATION AN INTERNATIONAL ALLIANCE STRATEGY
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PARTNERS’ ANALYSIS
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NEGOTIATION AND DESIGN OF THE ALLIANCE
LEGAL AND ORGANISATIONAL STRUCTURE
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IMPLEMENTATION OF THE ALLIANCE
© Andrey Medvedev
STRATEGIC CONTEXT, OBJECTIVES,
AND VALUE CREATION IN ALLIANCES
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COMPREHENSIVE ALLIANCES
– PARTNERS PARTICIPATE
IN ALL FACETS OF CONDUCTING BUSINESS –
FROM PRODUCT DESIGN TO MANUFACTURING AND MARKETING
– MOST COMPREHENSIVE ALLIANCES ARE ORGANISED
AS JOINT VENTURES
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FUNCTIONAL ALLIANCES
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PRODUCTION ALLIANCES
R & D ALLIANCES
MARKETING ALLIANCES
COMMERCIAL ALLIANCES
FINANCIAL ALLIANCES
© Andrey Medvedev
PARTNERS’ ANALYSIS
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STUDYING A POTENTIAL FOREIGN PARTNER
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FACTORS TO TAKE INTO ACCOUNT
– STRATEGIC FIT
RELATIVE COMPETITIVE POSITIONS OF PARTNERS,
COMPATIBILITY, THE RELATIVE SAFENESS OF THE ALLIANCE,
THE LEARNING POTENTIAL OF THE ALLIANCE
– CAPABILITIES FIT
REQUIRED CAPABILITIES AND CONTRIBUTION OF THE PARTNERS
(RESOURCES, ASSETS, COMPETENCIES – VALUE CHAIN STUDY)
– ORGANISATIONAL FIT
THE DEGREE OF DECISION-MAKING DECENTRALISATION
– CULTURAL FIT
CORPORATE AND NATIONAL CULTURES
© Andrey Medvedev
NEGOTIATION AND DESIGN
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LEGAL STRUCTURE
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ORGANISATIONAL DESIGN
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THE APPOINTMENTS OF EXECUTIVES
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MANAGEMENT CONTROL
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THE DISTRIBUTION OF VALUE
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THE REPORTING AND COMMUNICATION PROCESS
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THE CONFLICT RESOLUTION MECHANISMS
© Andrey Medvedev
MANAGEMENT CONTROL
IN STRATEGIC ALLIANCES
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SHARED MANAGEMENT
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DOMINANT PARENT
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MIXED DECISION-MAKING
– SHARED STRATEGIC DECISION-MAKING
AND SEPARATED FUNCTIONAL-LEVEL DECISION-MAKING
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INDEPENDENT MANAGEMENT
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ROTATING MANAGEMENT
© Andrey Medvedev
MIXED DECISION-MAKING:
RENAULT – NISSAN
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In 1999, CEOs of Renault and Nissan
signed an agreement for a total partnership.
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The two companies are operating independently, but their strategic
orientation and the organisation of synergies are supervised by a joint
management company, Renault-Nissan BV.
© Andrey Medvedev
DOMINANT PARENT MANAGEMENT: AVTOVAZ
– GM
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In 2001, AvtoVAZ, Russia's biggest car maker, General Motors, and
the European Bank for Reconstruction and Development (EBRD)
created a joint venture for manufacturing VAZ-2123 "Niva" cars
under the Chevrolet (Chevy-Niva) brand.
A new manufacturing plant was built in Togliatti
with the capacity 75 thousand cars per year.
Investment in the project totalled $332 million.
AvtoVAZ and GM each holds 41.5 percent stakes
in the project, EBRD has 17 percent.
According to the agreement,
GM took management control
of the joint venture from Day One.
© Andrey Medvedev
REACHING ADVANTAGES
IN STRATEGIC ALLIANCES
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EASE OF MARKET ENTRY
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KNOWLEDGE AND EXPERTISE SWAP
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SYNERGY AND COMPETITIVE ADVANTAGE
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SHARED RISK
© Andrey Medvedev
LEARNING EFFECT IN ALLIANCES
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US – JAPAN EXPERIENCE
© Andrey Medvedev
SYNERGIES IN ALLIANCE:
RENAULT – NISSAN
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Renault-Nissan Purchasing Organisation (RNPO)
sources 75 percent of the Alliance 2006 world-wide purchases.
Common platforms are being developed.
Cross-manufacturing operations.
Common distribution in Europe.
Common information system.
Exchange of best practices.
© Andrey Medvedev
ALLIANCE DISSOLUTION
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MOST ALLIANCES REPRESENT A TEMPORARY CO-OPERATION
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ENDINGS OF STRATEGIC ALLIANCES
ARE EITHER STRATEGIC PURPOSE FULFILMENT
OR A FAILURE OF THE ALLIANCE
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INTERNATIONAL STRATEGIC ALLIANCE FAILURE RATE
IS AROUND 30–60 PERCENT
© Andrey Medvedev
ALLIANCE DISSOLUTION:
CLOETTA FAZER
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In June, 2008, the principal owners of Cloetta Fazer AB – Oy Karl
Fazer Ab (“Fazer Group”) and AB Malfors Promotor – who together
own approximately 78.5 percent of the votes in Cloetta Fazer,
have struck an agreement concerning a de-merger of Cloetta Fazer.
Through the de-merger, Cloetta Fazer creates the two future
companies Cloetta and Fazer Confectionery.
The new Cloetta intends to apply for a listing on the OMX Nordic
Exchange Stockholm.
Fazer Confectionery will be consolidated in the privately held Fazer
Group.
© Andrey Medvedev
INTERNATIONAL NETWORKS:
MNCs AND INDEPENDENT FIRMS
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INTERNATIONAL NETWORK COULD BE ORGANISED
ON THE BASE OF MNC’S SUBSIDIАRIES
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INDUSTRIAL NETWORK COULD ALSO INCLUDE
INDEPENDENT PARTNERS,
WHICH CREATE A STRATEGIC ALLIANCE
TOGETHER WITH MNC’S SUBSIDIARIES
© Andrey Medvedev