Ebook Strategic management and competitive advantage (5th edition): Part 2
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Ebook Strategic management and competitive advantage (5th edition): Part 2
Find more at www.downloadsllde.comFind more at www.downloadsllde.comh ,, ’ n1 ‘ n ’ 11 n.3CORPORATE STRATEGIESFind more at www.downloadslide.comcha Pt Ebook Strategic management and competitive advantage (5th edition): Part 2ter6Vertical IntegrationLearning Objec tives After reading this chapter. you should be able to:1Define vertical integration, forward vertical integration, and backward vertical integration.2Discuss how vertical integration can create value by reducing the threat of opportunism.3Discuss how vertical Ebook Strategic management and competitive advantage (5th edition): Part 2integration can create value by enabling a firm to exploit its valuable, rare, and costly-to-imitate resources and capabilities.4Discuss how verticalEbook Strategic management and competitive advantage (5th edition): Part 2
integration can create value by enabling a firm to retain its flexibility.5Describe conditions under which vertical integration may be rare and costlyFind more at www.downloadsllde.comFind more at www.downloadsllde.comh ,, ’ n1 ‘ n ’ 11 n.3CORPORATE STRATEGIESFind more at www.downloadslide.comcha Pt Ebook Strategic management and competitive advantage (5th edition): Part 2tion.MyManagementLab®o improve Your g fade!Over 10 million students improved their results using the Pearson Mytabs.Visit mymanagementlab.com for simulations, tutorials, and end-of-chapter problems.Outsourcing r esearchFirst It w as simple manufac luring—toys, dog I ood. and the like —that was outso Ebook Strategic management and competitive advantage (5th edition): Part 2urced to Asia. This was OK because even though manufacturing could be outsourced to China and India, the real value driver of the Western economy—servEbook Strategic management and competitive advantage (5th edition): Part 2
ices—could never be outsourced. Or at least that was what we thought.And then fir ms star ted outsourcing call c enters and tax pr eparation and tr avFind more at www.downloadsllde.comFind more at www.downloadsllde.comh ,, ’ n1 ‘ n ’ 11 n.3CORPORATE STRATEGIESFind more at www.downloadslide.comcha Pt Ebook Strategic management and competitive advantage (5th edition): Part 2per in A sla. Sometimes, the qualit y of the ser vice was compromised, but with tr aining and additional t echnological development, maybe even these problemscould beaddr essed.Andthisw as OK because the r eal value driver of the Western economy—research and intelledual property—could never be outso Ebook Strategic management and competitive advantage (5th edition): Part 2urced. Or at least that was what we thought.Nov/, it tur ns out tha t some leading Western pharmaceutical fir ms—including Merck, Ell Lilly, and JohnsEbook Strategic management and competitive advantage (5th edition): Part 2
on & Johnson—have begun outsourcing some critical aspects of the pharmaceutical research and development process to pharmaceutical firms in India. ThiFind more at www.downloadsllde.comFind more at www.downloadsllde.comh ,, ’ n1 ‘ n ’ 11 n.3CORPORATE STRATEGIESFind more at www.downloadslide.comcha Pt Ebook Strategic management and competitive advantage (5th edition): Part 2sion had at least two important implications for the pharmaceutical industry in India. First, it led 10 the founding of thousands of generic drug manufacturers there—firms that reverse engineered patented drugs produced by US. and Western European pharmaceutical companies and then sold them on world Ebook Strategic management and competitive advantage (5th edition): Part 2 markets for a fraction of their original price. Second, virtually no phar maceutical research and development took place in I ndia. After all, v/hy sEbook Strategic management and competitive advantage (5th edition): Part 2
pend182Find more at www.downloadslide.corrall the time and money needed to develop a new drug when generic drug firms would instan tly reverse eng ineFind more at www.downloadsllde.comFind more at www.downloadsllde.comh ,, ’ n1 ‘ n ’ 11 n.3CORPORATE STRATEGIESFind more at www.downloadslide.comcha Pt Ebook Strategic management and competitive advantage (5th edition): Part 2honor ing global phar maceutical pa tents. No w, for the first time in more than two decades, Indian firms could tap into their pool of highly educated scientists and engineers and begin engaging in original research. But developing the skills needed to do world-class pharmaceutical research on your Ebook Strategic management and competitive advantage (5th edition): Part 2 own is difficult and time-consuming. So, Indian firms began searching for potential partners in the West.In the beginning. Western pharmaceutical comEbook Strategic management and competitive advantage (5th edition): Part 2
panies outsourced only very routine lab work to their new Indian partners. But many of these firms found that their I ndian par tners were well-manageFind more at www.downloadsllde.comFind more at www.downloadsllde.comh ,, ’ n1 ‘ n ’ 11 n.3CORPORATE STRATEGIESFind more at www.downloadslide.comcha Pt Ebook Strategic management and competitive advantage (5th edition): Part 2er of Western pharmaceutical firms have begun outsourcing progressively more Important parts of the research and development process to their Indian partners.And wha t do the Western fir ms get out of this outsour dng? Not surprisingly—low costs. 11 costs about $250,000 per y ear to employ a p h.D. Ebook Strategic management and competitive advantage (5th edition): Part 2chemist in the West. That same $250,000 buys five such scien tists in I ndia. Five times as man y scientists means tha t pharmaceutical firms can deveEbook Strategic management and competitive advantage (5th edition): Part 2
lop and test more compounds faster by working with their I ndian partners than they could do on their own. The mantra in R&D—‘fail fast and cheap"—is Find more at www.downloadsllde.comFind more at www.downloadsllde.comh ,, ’ n1 ‘ n ’ 11 n.3CORPORATE STRATEGIESFind more at www.downloadslide.comcha Pt Ebook Strategic management and competitive advantage (5th edition): Part 2Western firms is not e xactly doing basic r e-search in pharmaceuticals. Early results indicate that Indian R&D efforts in pharmaceuticals have met with only limit ed success. For example, an alliance between Eli Lilly and its I ndian partner, Zydus, was called off in early 2012. Disappointing resul Ebook Strategic management and competitive advantage (5th edition): Part 2ts have also emerged in alliances between Merck and Novartis and their Indian partners. Also, recently the Indian government has begun to not recognizEbook Strategic management and competitive advantage (5th edition): Part 2
e global pharmaceutical patents and is contemplating putting price limits on some drugs sold in I ndia. All this will pr obably make it mor e difficulFind more at www.downloadsllde.comFind more at www.downloadsllde.comh ,, ’ n1 ‘ n ’ 11 n.3CORPORATE STRATEGIESFind more at www.downloadslide.comcha Pt Ebook Strategic management and competitive advantage (5th edition): Part 2g parties for international pharmaceutical firms.Sourtft: M.Kripalanl and p. Engar dio 12003) The rise of I nda.-easiness Wee*. December 8, pp 66*;K J.Deraneyl2O03). 'Outsourcing lobs—and workers—to India.' rhe Wait Street Journal, October 13. pp. 81 B. Etihorn 120061. "A dragon in RAO.' 6UsHessWee* Ebook Strategic management and competitive advantage (5th edition): Part 2.Nowmber6.pp 44--.P Engarrfioand A Weintraub(2008!. •Outsourcing the drug industr y'BvsAnessWVek. September s. 2008, pp. 4Ã-S2: Peter Arnold, Inc. (2OEbook Strategic management and competitive advantage (5th edition): Part 2
12J."Zydus, Ell Lily drug discovery deaf c#f.‘ The iconomn rimes. January 2: J. Lamattina 12012). Hrs time to stop outsourcing Pharma réo to India' wvFind more at www.downloadsllde.comFind more at www.downloadsllde.comh ,, ’ n1 ‘ n ’ 11 n.3CORPORATE STRATEGIESFind more at www.downloadslide.comcha Pt Ebook Strategic management and competitive advantage (5th edition): Part 2om184 Part 3: Corporate StrategiesFind more at www.downloadsllde.comFind more at www.downloadsllde.comh ,, ’ n1 ‘ n ’ 11 n.3CORPORATE STRATEGIESFind more at www.downloadslide.comcha PtGọi ngay
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