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Publication date: 4 September 2020

Andrejs čirjevskis

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 �…

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Abstract

Purpose

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.

Design/methodology/approach

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.

Findings

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.

Originality/value

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.

Objetivo

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.

Diseño/metodología/enfoque del estudio

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.

Conclusiones

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.

Originalidad/valor

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.

Details

Academia Revista Latinoamericana de Administración, vol. 34 no. 1
Type: Research Article
ISSN: 1012-8255

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Article
Publication date: 2 May 2017

Andrejs Čirjevskis

This paper aims to add to the understanding of dynamic capabilities (DC) as sources of competitive advantage of successful Asian-Pacific shipping companies by demonstrating that…

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Abstract

Purpose

This paper aims to add to the understanding of dynamic capabilities (DC) as sources of competitive advantage of successful Asian-Pacific shipping companies by demonstrating that DC development unfolds in three steps, from recognition that the environment has changed, to the decision to deploy DC, to assets re-orchestration.

Design/methodology/approach

Based on an approach involving two illustrative case studies, the author analyzed DC development of Chinese and Singaporean-based shipping groups in depth. The analysis was centered on DC by investigating how strategic decision-making on vertical integration, diversification and implementation of new technologies can be underpinned by developing DC to create sustained advantages.

Findings

The author found that strategic components of DC are rooted in strategic decision-making to initiate changes on the corporate and even on an operational level.

Research limitations/implications

While capability development is thoroughly studied, capability erosion has not been integrated into the research. The exploration of human capital as a firm’s idiosyncratic resource in assets orchestration capabilities can be future work.

Practical implications

The proposed research contributes to the debate on micro foundations of DC and provides insights for practitioners striving for retaining competitive advantages.

Social implications

Regarding implications for the society, the research shows how the DC serve to generate competitive advantages. The author has presented a logical structure of the competitive advantage paradigm as a product of DC and business models that can be useful to decision makers.

Originality/value

The research offers insights into the composition of micro foundations of DC and demonstrates that DC can be unbounded into well-known and concrete strategic and operational management activities.

Details

Journal of Asia Business Studies, vol. 11 no. 2
Type: Research Article
ISSN: 1558-7894

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