Samenvatting
Summary Strategic Management And Marketing Theory In The Creative Industries
- Instelling
- Universiteit Van Amsterdam (UvA)
This is a summary of lectures, required readings, and lecturer's additional explanations.
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Voorbeeld 4 van de 46 pagina's
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Voorbeeld van de inhoud
STRATEGIC MANAGEMENT AND MARKETING THEORYWEEK 1 (1)
- Things are more extreme in the creative industries
- What is art?
- Boston consultancy group matrix
à Growth of the market x growth of the market share of a company in that market
à Designed to help with long-term strategic planning, to help a business consider
growth opportunities by reviewing its portfolio of products to decide where to invest, to
discontinue or develop products
à Purpose is portfolio management/corporate strategy
à To decide where to allocate your resources
à Depending on which quadrant you're in, investment decisions will follow
o Star = growing market share in the growing market; investments will come
here
o Cash cow = market share is big, market is declining; investments will be taken
away
o Dog = products that don't pay off; don't invest but don't necessarily throw
away; it can fill a niche
o Question mark = the market is growing but the market share is low; you want
to invest to turn it into a star, but has to be balanced
Suddaby – Construct Clarity in Theories of Management and Organization
In a nutshell
- Constructs are conceptual abstractions of phenomena that cannot be directly
observed. The essential elements of construct clarity are: definitions, scope conditions,
relationships between constructs, and coherence, capture the characteristics mutually
reinforce each other. We need construct clarity, because clarity is critical to the
accumulation of knowledge
o Clear constructs facilitate communication between scholars
o Improved clarity enhances researchers’ ability to empirically explore
phenomena
o Clear constructs enhance creativity and innovation in research
- Necessary for understanding & testing theory
- Good for practice
1
, o To make and execute your own plans
o To defend your own and defeat other ppl’s proposals
Good definitions
- Definitions, not descriptions
- Not too narrow, not too broad
- Unambiguous terminology
- ‘scope conditions’ = something can be defined as x, in a particular context
- Relationships between concepts
Defining & operationalising
- Defining concepts = you say what it is
- Operationalizing concepts = tells you how to identify something practically as
conforming to the theoretical definition
- Applying operationalizations to particular datasets/circumstances (scope conditions of
operationalizations)
- Evaluating the definitions & operationalizations by looking at their usefulness in
making sense of particular solutions/problems
Good definitions help to say
1. What it is
2. Where it begins and ends (boundaries)
3. What kind of it there are – if these kinds leas to different causal relationships
Good operationalizations
1. How much of it there is
2. How strong/weak it is
3. Whether it affects something else – so one needs a goof
- Performativity of economics = applying theory makes reality corresponding more to
theory; what kind of theory you use, will impact whatever there is in reality; perception
may become reality
- Counter performativity of economics = applying theory makes reality
corresponding less to theory
- Confucius: “Therefore, as to the gentleman: if he names something, it must be
sayable, and if he says something, it must be doable. The gentleman’s relation to
words is to leave nothing whatever to chance.”
- The anomaly is reflected, somewhat, in how we train graduate students, where
considerable time is devoted to understanding how constructs are measured and
operationalized but substantially less time is devoted to understanding how
constructs are created and used in the research process
- Construct clarity is highly dependent on a theorist's facility with language
Baum & Shipilov – Ecological Approaches to Organizations
Organizational ecology
- Organizational form
- Organizational populations
- Organizational ecology à subfield in management science; uses tools of ecology and
biology to study competition in economics
o Side effect of this approach à you start thinking of organizational inertia
- Organizational inertia = companies are structured in particular ways; these things are
very difficult to change
2
,- Age dependence, size dependence, density dependence à the more competition,
the more difficult to become profitable; having a few competitors is better than none
à easier to achieve legitimacy
- Legitimacy (through competition)
- Specialists (active in a particular market niche) x generalists (active in different
submarkets)
- Competitive density = how many competitors are out there that you are competing
with
o If there are a lot of competitors, average performance goes down (downwards
part of the U)
o In the early stages of a new market, more competitors is usually good news
à if competitive density goes up, that improves average performance
à the more radical the innovation is, the more difficult it will be to get suitable
resources
à consumers my consider the product more of a risk; if there are a lot of
competitors around, they show that the product is legitimate
- Scientific theories must solve two kinds of problems: empirical problems, which are
substantive questions about the objects that constitute the domain of inquiry, and
conceptual problems, which include questions about internal logical consistency and
conceptual ambiguity of theories advanced to solve empirical problems, as well as
the methodological soundness of tests of theoretical arguments
o From this perspective, organizational ecology’s contribution to progress can
be defined in terms of its capacity to accumulate solved empirical problems
while minimizing the scope of unsolved empirical problems and conceptual
problems
- Although organizational ecologists would like their theories to maximize generality
across organizational populations, realism of context and precision in measurement
of variables, in fact, no theory can be general, precise and realistic all at the same
time
o Theories must sacrifice on some dimensions to maximize others
o For example, realistic theories may apply to only a limited domain, while
general theories may be inaccurate or misleading for specific applications
In a nutshell
- Our goal is to assess and consolidate the current state-of-the-art in organizational
ecology
- Our appraisal focuses on two main themes: demographic processes and ecological
processes
- The Ecology Theory Focuses on Three Themes:
1. Demographic Processes: Inertia
o Organizational inertia – Really difficult and costly to change who you are
o Age dependence – Older organisations less likely to fail (in e.g. reproduction)
o Size dependence – Small organisations may have difficulties recruiting, raising
capital, handling costs while large ones emphasise predictability, formalization
and control
o Density dependence – Positive or negative if there are more competitors
around?
2. Ecological processes: Specialist vs. Generalist
o Specialist in a competitor niche, possess few slack resources and concentrate
exploiting a narrow range of customers
3
, o Generalist is in many businesses, doing better when environment changes
rapidly, appeal to the mass market and exhibit tolerance for more varied
environments
3. Environmental Processes (Organisational Change): Legitimacy
o Relation between performance and population density: if there are more of
you, you will do better, but if there are too many, you will starve because of
too much competition
o Competence Enhancing – Building on existing knowhow & reinforcing
incumbents position
o Competence Destroying – Rendering existing knowhow obsolete and making
it possible for newcomers to become technologically superior competitors
- Lack of Legitimacy is a Problem
o Legitimacy is connected to competition = meeting expectations
o It will devalue the product itself, it is risky
o Having a few competitors is better than no competitors – If you have some
competitors, achieve legitimacy more easily, less risk
Kennedy – Getting counted: markets, media, and reality
- How competitive density affects your strategic choices
- The paper uses a very practical question to shed light on a very general thing
- Looks at press releases of companies developing new products
- Through the media, you talk to your customers indirectly (by publishing press
releases)
- Whether companies talk about their competitors in their press releases
- How often do you explicitly talk about your competition in the press release?
- If you can count it, it is more real
- If there are a lot of them, you take them more seriously
- “This study demonstrates that early entrants benefit from inviting coverage that
makes a few – but not too many – links to other entrants, thus helping audiences
perceive an emerging category. As the market matures, however, references to rivals
become unhelpful.”
Categories and the misfits
- The story becomes one about categories
- Markets are categories of producers and product
- Categories can be more or less well established
- Category = there is a group of entities which can be compared in a meaningful way;
e.g. you can compare them
- The QUALITY OF WHAT YOU ARE EVALUATING IS ALWAYS EVALUATED
AGAINST THE BACKGROUND OF A CATEGORY
- The Misfits are an American rock band often recognized as the progenitors of the
horror punk subgenre, blending punk rock and other musical influences with horror
film themes and imagery
- Share beliefs shape reality (performativity of beliefs)
- Markets are also categories
- Cognitive embedding is also a contact sport
- “In business, the preeminent forum for abductive inferences (hypotheses) about new
categories, the translation that spreads them, and evaluations of their validity arise
from the media”
- Kennedy makes a distinction about industries or markets that are more or less mature
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