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Samenvatting Internationaal Zakenwezen - kort -
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Samenvatting van de lessen + eigen notities + gastsprekers
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InhoudHoofdstuk 1: Concepts of strategy..............................................................................................................6
Stages.....................................................................................................................................................6
a. Stakeholders...................................................................................................................................6
b. External...........................................................................................................................................6
1. Porter 5 forces: the “old” way:...........................................................................................................6
2. Steeple................................................................................................................................................6
3. Innovation lab methodology...............................................................................................................6
4. GE McKinsey.......................................................................................................................................6
5. Capability maturity.............................................................................................................................7
6. Business cycles....................................................................................................................................7
c. Internal............................................................................................................................................7
1. Core competences (Hamel-Prahalad).................................................................................................7
2. GE (General electric) McKinsey...........................................................................................................7
3. Reputation Quotient Model (Harris-Fombrun)...................................................................................7
d. External + internal factors combined..............................................................................................7
e. Definition of strategy......................................................................................................................7
1. Porter Generic strategies....................................................................................................................7
2. 3C by Kenichi Ohmae..........................................................................................................................7
3. Value Discipline (Tracey & Wiesema)..................................................................................................7
4. Ansoff Matrix:.....................................................................................................................................7
5. Motivations for foreign expansion......................................................................................................8
f. Implementation...............................................................................................................................8
Hoofdstuk 2: 8 themes of new reality.........................................................................................................9
1. Ways of working.................................................................................................................................9
2. Labor force..........................................................................................................................................9
3. Supply Chain & manufacturing...........................................................................................................9
4. Change in customer behaviour...........................................................................................................9
5. Continuity & Resilience.......................................................................................................................9
6. Purpose, ESG.......................................................................................................................................9
7. Debt burden of states and companies................................................................................................9
8. Globalization.......................................................................................................................................9
Hoofdstuk 3: Framework of A Verbeke.....................................................................................................10
1. The essence of international business strategy................................................................................10
2. The MNE’s unique Resource base.....................................................................................................10
1
, a. Physical resources.........................................................................................................................10
Financial resources...........................................................................................................................10
Human resources..............................................................................................................................10
Upstream knowledge........................................................................................................................10
Downstream knowledge...................................................................................................................10
Administrative knowledge................................................................................................................10
Reputational.....................................................................................................................................10
3. Routines............................................................................................................................................11
4. Recombination..................................................................................................................................11
5. International Transferability of FSA’s................................................................................................11
a. Transferable..................................................................................................................................11
Not transferable: location-bound.....................................................................................................11
6. Location advantage...........................................................................................................................12
7. 4 types of MNE (Multi National Enterprise)......................................................................................12
a. Centralised exporter.....................................................................................................................12
International Projector.....................................................................................................................12
International Coordinator.................................................................................................................13
Multi-Centred MNE...........................................................................................................................13
8. 4 types of distance............................................................................................................................14
a. Cultural.........................................................................................................................................14
Economic..........................................................................................................................................14
Institutional.......................................................................................................................................14
Spatial...............................................................................................................................................14
9. Bounded rationality & bounded reliability........................................................................................15
a. Bounded rationality......................................................................................................................15
Bounded reliability............................................................................................................................15
Rationality vs. Reliability...................................................................................................................15
10. 7 key questions in IBS.....................................................................................................................16
8. Guide versus Command....................................................................................................................16
9. Hierarchy..........................................................................................................................................16
10. View of Verbeke on Japanese subsidiaries......................................................................................17
11. R&D Home Based expoiting vs augmenting....................................................................................17
12. 6 types of factories.........................................................................................................................17
2. Server factory:...............................................................................................................................17
3. Outpost factory:............................................................................................................................17
4. Source factory:..............................................................................................................................17
2
, 5. Contributor factory:......................................................................................................................18
6. Lead factory:.................................................................................................................................18
13. Foreign currency.............................................................................................................................18
14. International marketing..................................................................................................................19
15. How to manage...............................................................................................................................20
a. expat managers.............................................................................................................................20
b. Distributors..................................................................................................................................20
c. Alliances.......................................................................................................................................21
16. Environment triggers: 2 innovation types.......................................................................................21
Hoofdstuk 4: Concepts of Mergers&Aquisitions.......................................................................................22
1. Buy side steps: how to buy a business?............................................................................................22
2. M&A across the cycle........................................................................................................................22
3. Types of transactions........................................................................................................................22
4. Sell side steps....................................................................................................................................22
5. Due diligence....................................................................................................................................23
6. Quality of..........................................................................................................................................23
1. Earnings............................................................................................................................................23
2. Debt.................................................................................................................................................23
7. Working capital needs......................................................................................................................24
8. Dataroom..........................................................................................................................................24
9. Share purchase agreement...............................................................................................................24
10. Value drivers...................................................................................................................................25
11. Value creation/ risk model for M&A...............................................................................................26
12. Integration pitfalls...........................................................................................................................26
13. Impact of lifecycle on financing options..........................................................................................27
14. Private equity..................................................................................................................................27
15. Crowdfunding.................................................................................................................................28
Hoofdstuk 5: Bites for you........................................................................................................................29
1. Companies grow faster.....................................................................................................................29
2. 4 megatrends change the world.......................................................................................................29
a. Demographic dynamics.................................................................................................................29
Sharing responsibility........................................................................................................................29
Disruptive technologies....................................................................................................................29
Social values & behaviour.................................................................................................................30
3. Growth of population.......................................................................................................................30
4. Urbanization.....................................................................................................................................30
3
,5. Mega cities........................................................................................................................................30
6. Ageing people...................................................................................................................................30
7. Opportunities form ageing................................................................................................................31
8. Purpose in business – search for impact...........................................................................................31
9. United Nations Sustainable Development Goals..............................................................................31
10. Greenwash or CSR or Real impact economy...................................................................................31
11. Circular economy............................................................................................................................31
12. Environmental issues......................................................................................................................32
13. Lack of space...................................................................................................................................32
14. Arctic melt down.............................................................................................................................32
15. Environmental solutions.................................................................................................................32
16. Smart houses..................................................................................................................................32
17. Electrification..................................................................................................................................32
18. Conscious consumer.......................................................................................................................32
19. Internet of things............................................................................................................................32
20. Omni presence of smartphone.......................................................................................................32
21. Screenification................................................................................................................................32
22. Wearable technology......................................................................................................................32
23. Virtual reality and augmented reality.............................................................................................32
a. Virtual: andere wereld..................................................................................................................32
b. Augmented: vb. pokémon go wereld aangepast met virtuele wereld .........................................32
24. Google glasses back in business......................................................................................................32
25. AR thanks to pokemon....................................................................................................................32
26. Agents or virtual assistants.............................................................................................................32
27. Robots.............................................................................................................................................33
28. Bots.................................................................................................................................................33
29. Platform economy..........................................................................................................................33
30. Eduqation changes..........................................................................................................................33
31. Big 5 become even bigger...............................................................................................................33
32. Blockchain.......................................................................................................................................33
33. Always connected...........................................................................................................................33
34. Dsirupting startups.........................................................................................................................33
35. Digimeter profiles...........................................................................................................................33
36. Value of data...................................................................................................................................34
37. Netflix story.....................................................................................................................................34
38. Personalisation...............................................................................................................................34
4
, 39. Big brother watching us..................................................................................................................34
40. AI on the loose?..............................................................................................................................34
41. Ethical dilemma’s............................................................................................................................34
42. Future of jobs..................................................................................................................................34
43. Security risks...................................................................................................................................34
44. What can we learn from Schumpeter?...........................................................................................34
45. Rethinking business models............................................................................................................34
Hoofdstuk 6: Gastsprekers........................................................................................................................36
1. Lensonline.........................................................................................................................................36
2. Agfa Gevaert.....................................................................................................................................41
3. Private equity....................................................................................................................................48
4. Kinepolis...........................................................................................................................................58
5. SABCA...............................................................................................................................................64
5
,Hoofdstuk 1: Concepts of strategy
Stages
a. stakeholders
b. External analysis
c. Internal analysis
d. Strategy
e. Implementation
a. Stakeholders
Why do I do business? What do I want to achieve?
4 soorten: shareholders, key clients, personnel and funding
Business purpose: loss vs. profit & add value to community vs. destruction of community
CSR (corporate social responsability) is a first step of profit & traying to add value
o Rol Verbeke:
1. corporate citizenship
2. MVO-initiatief gezamenlijke bijdrage aan "heel goed doen" en "goed doen”, langere termijn
activiteiten
3. Arbeidsomstandigheden en arbeidsnormen in uw fabrieken en bij uw leveranciers
4. Prijsbeslissingen winstmaximalisatie nakomen van verplichtingen
5. Bedrijfsdoelstellingen van gastland en de sociaaleconomische en institutionele context
USDG’s (UN Sustainable Development Goals) also
b. External
1. Porter 5 forces: the “old” way:
dreiging nieuwe concurrent op markt onderhandelen van macht leveranciers dreiging van
subsitituten onderhandelen macht kopers
Centraal: concurrentie bij bestaande concurrenten
Wat mist in het model?: regelgeving
2. Steeple
Aantrekkingen markt: Sociaal, technologisch, economisch, ecologisch, politiek, ethisch, legaal en sociaal
3. Innovation lab methodology
Politiek & regelgeving: Wat zijn de belangrijkste veranderingen in de regelgeving?
Sociaal & mensen: verandering in demographie en sociaal gedrag?
Technologie: belangrijkste nieuwe technologieën?
Economisch & markten: In wat investeren de grootste tech-giganten en start-ups?
4. GE McKinsey
Aantrekkingen markt: marktgrootte, marktgroei, marktwinst, prijstrends, concurrenten, segmenten,
vraagelasticiteit …
6
, 5. Capability maturity
Initial repeatable defined managed optimised
Tesla = stage 4, McDo = stage 5
6. Business cycles
1. x-as: tijd; y-as vraag
embryonic stage groewthstage shake-out mature stage decline
2. BCG matric: x-as: market share, y-as: business growth rate
Linksboven: stars (invest) – rechtsboven: remainder divested
Linksonder: cashcows – rechtsonder: dogs (liquidate)
Nestlé: star: water – nieuw: cornflakes - cashcow: chocomelk – dogs: bifi worst
c. Internal
1. Core competences (Hamel-Prahalad)
Provides potential acces to variety of markets?
Benefits perceived by the end customer?
Difficult to imitate?
2. GE (General electric) McKinsey
Competitive strength: marktaandeel, maarktaandeelgroei, consument loyaliteit, relatieve merksterkte,
sterkte van aandelen en competenties, relatieve prijspositie, relatieve winstmarges …
3. Reputation Quotient Model (Harris-Fombrun)
Visie en leiderschap, producten en services, financiëel vermogen, sociaal verantwoordelijk, werkmilieu,
emotioneel aantrekkelijk
d. External + internal factors combined
Portfolio overview
x-as: competitive strengths, y-as: market attractiveness
e. Definition of strategy
1. Porter Generic strategies
Cost leadership strategy vs. differentiation
2. 3C by Kenichi Ohmae
Corporate based strategies
Competitor based strategies
Customer based strategies
3. Value Discipline (Tracey & Wiesema)
Product leadership
operational excellence
customer intimacy
Focus op 1, maar negeer de andere 2 niet!
4. Ansoff Matrix:
x-as: products; y-as markets
New markets – existing products: market development
new products: diversification
7
,Existing markets – existing products: market penetration
new products: product development
5. Motivations for foreign expansion
Foreign direct investment (FDI)= the allocation of resource bundles by an MNE in a host country, with
the purpose of performing business activities over which the MNE retains strategic control in that
country.
MNE should engage in FDI only if the host country confers a location advantage relative to the home
country.
4 motivations:
1. Natural resource seeking: search for physical, financial or human resources.
2. Market seeking: search for customers in host countries. If this confers higher value to the firm
than engaging in an alternative investment projects at home.
- Market seeking ≠ exporting: it also involves business activities in the host country.
- Case 1: Coca-cola
3. Strategic resource seeking: gain acces to advanced resources in the sphere of upstream
knowledge, downstream knowledge, administrative knowledge or reputational resources.
- Typically involves taking over other companies, engaging in alliance activity or becoming an
insider in foreign knowledge clusters.
4. Efficiency seeking: firm’s desire to capitalize on environmental changes that make specific
locations in the MNE’s international network of operations more attractive for the
consolidation of concentration of specific activities.
- Technological break-throughs allowing greater scale economies, more focus on innovation,
higher R&D investments, shorter product cycles, reduction of trade and investment
barriers.
f. Implementation
8
,Hoofdstuk 2: 8 themes of new reality
1. Ways of working
2. Labor force
3. Supply Chain & manufacturing
4. Change in customer behaviour
5. Continuity & Resilience
6. Purpose, ESG
7. Debt burden of states and companies
8. Globalization
a.
9
, Hoofdstuk 3: Framework of A Verbeke
1. The essence of international business strategy
International business strategy means effectively and efficiently matching a multinational enterprise’s
(MNE’s) internal strengths (relative to competitors) with the opportunities and challenges found in
geographically dispersed environments that cross international borders. Such matching is a
precondition to creating value and satisfying stakeholder goals, both domestically and internationally.
2. The MNE’s unique Resource base
Building upon its resource base, as well as its access to location advantages, the MNE will develop
stand-aloneFSAs(e.g., brand names, patents) and routines, and will also engage inresources
recombination.FSAsreflect the firm’s distinct strengths vis-à-vis rivals, and are the source of its
competitive advantage in the marketplace.
a. Physical resources
(natural resources, buildings, plant equipment).
Financial resources
(equity and loan capital)
Human resources
(individuals and teams, entrepreneurial and operational skills)
Upstream knowledge
(sourcing knowledge, product and process-related technological knowledge)
Downstream knowledge
(marketing, sales, distribution and after sales service)
Administrative knowledge
(organizational structure, culture and systems)
Reputational
(reputation for honest business dealings)
10
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