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The potential for resource combinations to have adverse consequences for acquiring firms is often overlooked in research. However, considering potential inimical resources can explain target and acquiring firm actions across the phases (evaluation, completion, and integration) of an acquisition. The authors outline how managers deal with inimical resources in acquisitions. Specifically, during evaluation, due diligence offers managers from acquiring firms the opportunity to avoid potential inimical resources by abandoning an acquisition. During integration, inimical resources can be dealt with either by limiting integration, or with planned or unplanned divestment. As a result, inimical resources explain observed actions and provide a context for making and improving corporate restructuring decisions.

Chronicles the British Petroleum Company through its formation in 1909 to 1939 (pre‐Second World War), following on from being a distribution company of the Anglo‐Persian Oil Company. Shows that by the outbreak of war in 1914 it owned over 850 depots, employing nearly 3,000 people. Posits that the war changed the position of the BP Company and its shipping company ‐ being classed as enemy concerns ‐ even though most employees were British. Documents the changes throughout the war years and chronicles with tables the changes right up to the Second World War, also includes copies of adverts used in BP's formative years including the time of the Great Depression and BP's merger with Shell Mex.

The global business context is turbulent and becoming a dynamic complex system where small events can trigger large outcomes that are difficult to predict. This gives urgency to the search for responsive global organizations that are able to adapt the multinational corporate strategy so it provides a better fit with the changing demands of the environment. An important key to this challenge is to activate the responsive potential of the many individuals in the multinational corporation and use them to inform strategic decisions and gain updated insights from the field and instill an organizational culture with supportive structures that will release the entrepreneurial human potential throughout the global organization. The eight chapters presented in this book provide useful insights to fuel these considerations.

This purpose of this paper is to investigate the policies and consequences of state‐directed consumerism in Iran during the reign of Shah Abbas I (1587–1629) of the Safavid dynasty.

The research is based upon several secondary literatures, especially Middle Eastern studies and art history, as well as primary source materials in the form of architecture, its decorative elements, and other works. The visual content and consumption themes of a selected tile painting are described and analyzed.

The Shah strengthened the state by building infrastructure, encouraging international trade, and creating a robust silk industry where he controlled production and marketing. He utilized his city and its architecture as a means of communication to impress his subjects and foreign visitors and to increase domestic demand for silk textiles. These promotional efforts led to a surge in spending, which occurred about the same time as similar booms in England and France. Economic problems and rising Islamism dampened this episode of Persian consumerism in the latter part of the seventeenth century.

The set of visual data sources is small and limited to works from just one city, Isfahan.

The research fills gaps in the marketing and consumption history literatures which have not as yet fully considered the use of state resources to promote domestic consumption, consumer marketing in the Middle East, and the promotional roles played by architecture and its decorative elements.

The purpose of this paper is to examine the presence and influence of US advertising in Italy between the early 1950s and the mid-1970s.

The purpose of this paper is to examine the presence and influence of US advertising in Italy between the early 1950s and the mid-1970s.

The paper argues that there is a need to further qualify and deconstruct the notion of “Americanization” by integrating the now well-established notions of “hybridization” and “mediation” with more specific attention to the competing “hearts and souls”, the different strategies and discursive practices that different individual actors (American, British and Italian) operating within the Italian advertising business tried to instil into goods and consumers and the economic and cultural results that they achieved.

This is the first research on the history of Italian advertising that fully places it within a transnational and comparative perspective using so far unpublished records, aiming at moving beyond traditional, eastbound Americanization frameworks through a detailed empirical investigation.

The purpose of this paper is twofold: to explore how commercial hospitality has contributed to the development of urban areas in relation to commerce, hospitality, religious and imperial patronage in early modern, Safavid Iran (c. seventeenth century). Second, to combine material culture research methods in an analytical framework for future use.

Data were collected during 27 site visits over three years to 14 caravanserai six bazaar complexes. A material culture methodology is proposed, designed and implemented, supplemented by analysis of textual sources.

The form and function of caravanserai at Zein‐i Edin broadly reflect the form and function of desert caravanserai common in much of the Islamic world. However, the complex within the Qaysariyya Bazaar in Isfahan reflects the convergence of specific dynastic, geopolitical and economic issues facing seventeenth century Safavid Iran shaping both urban form and commercial focus. These are consolidation of the Safavid dynasty, rivalry with the Ottoman Empire and the vital importance of trade with Mughal India.

The research is limited by its specific contextual scope but invites further investigation in analogous contexts across this milieu as well as further implementation of the material culture methods it adopts to both historical and contemporary commercial contexts.

The paper explores, for the first time the development of commercial hospitality in early modern Iran and invites further consideration of the development of capitalism outside of Eurocentric teleologies. Furthermore, it presents a new and explicit methodological framework for using material culture as a means of enquiry.

The principal purposes of this paper are to provide normative advice in terms of managing the British Monarchy as a Corporate Heritage Brand and to reveal the efficacy of examining a brand's history for corporate heritage brands generally.

Taking a case history approach, the paper examines critical events in the Crown's history. It is also informed by the diverse literatures on the British Monarchy and also marshals the identity literatures and the nascent literature relating to corporate brands. Six critical incidents that have shaped the monarchy over the last millennium provide the principal data source.

In scrutinising key events from the institution's historiography it was found that the management and maintenance of the Crown as a corporate brand entail concern with issues relating to: continuity (maintaining heritage and symbolism); visibility (having a meaningful and prominent public profile); strategy (anticipating and enacting change); sensitivity (rapid response to crises); respectability (retaining public favour); and empathy (acknowledging that brand ownership resides with the public). Taking an integrationist perspective, the efficacy of adopting a corporate marketing approach/philosophy is also highlighted.

A framework for managing Corporate Heritage is outlined and is called “Chronicling the Corporate Brand”. In addition to Bagehot's dictum that the British Monarch had a constitutional obligation to encourage, advise and warn the government of the day, the author concludes that the Sovereign has a critical societal role and must be dutiful, devoted and dedicated to Her (His) subjects.

This is one of the first papers to examine the British Monarchy through a corporate branding lens. It confirms that the Crown is analogous to a corporate brand and, therefore, ought to be managed as such.

This paper aims to introduce economic history as a new stream of international business (IB) research. It offers a long-term perspective on how the IB has evolved over time, focussing on the interplay between multinational enterprise and the nation state.

The paper uses existing scholarly literature on international economic history to develop eight key propositions regarding the interface between the politics and economics of foreign direct investment (FDI).

There is a rivalry between nation states and competition between firms. These two forms of conflict interact. Nations use their leading firms as instruments of international policy while leading firms rely on political and financial support from home nations. Using historical evidence and cross-country comparisons, the paper explains has the scale and scope in IB activity have changed dramatically over time.

There is scope for more detailed historical studies on national policies towards inward and outward FDI.

It is important to see the recent international economic policies of China in a long-run historical perspective and to appreciate the similarities between its policies and those of other countries in the past.

Many of the potential economic gains generated by FDI may be lost through an excessive commitment of resources to the pursuit of military power as a foundation for international political power.

This paper challenges IB researchers to widen their horizons.

This paper aims to extend the understanding of how real options reasoning (ROR) is associated with downside risk and how a firm’s portfolio (explore and exploit) of investment activities affects managers’ ability to effectively apply ROR in relation to downside risk.

The survey method is used. It is applied to a population of Danish firms, which in 2018 had more than 100 employees. The chief financial officer was the target respondent.

This study finds that a higher level of ROR is associated with lower levels of downside risk. ROR’s association with lower levels of the downside risk is also moderated by the level of relative exploration orientation in a negative direction.

The field of ROR research on downside risk and portfolio subadditivity has been dominated by research focused on multinationality. This paper extends extant literature on ROR by studying ROR as a multidimensional construct of firm action, which is associated with lower levels of downside risk, also when studied outside of a multinationality setting. This is the case when ROR is implemented as a complete system. This paper also applies a framework of exploitation and exploration to show that findings on subadditivity in options portfolios caused by asset correlations extend outside the scope of multinationality and into one of product/service innovation.

This study aims to propose that, in business-to-business (B2B) industries, number of strategic alliances firms established before a “black swan” event enhances their chances to survive the black swan, and the enhancements take place through moderation effects. Changes in firms’ core structures – their stated goals, authority structure, core technologies and marketing strategies – to adapt to business jolts have adverse effects on firm performance. Firms’ existing B2B strategic alliances moderate the effects negatively by outsourcing different goals, authority structures, core technologies and marketing strategies to partners who fit the changed environment.

This study collected quantitative data and analyzed the data with the regression method.

Using data from Chinese firms in five technology industries during the 2007–2009 economic crisis, this study finds that firms’ internal adaptation is negatively correlated with their performance during economic crises, and B2B strategic alliances negatively moderate this relationship.

First, this study focuses on B2B strategic alliances, and it is not clear whether the findings apply to B2C industries, where strategic alliances may not be common. Perhaps firms can use other means of survival in addition to strategic alliances in B2C industries. Second, this study does not differentiate between fast-moving and slow-moving industries, and it is not clear whether strategic alliances play the same role in both industries. Third, this study does not differentiate firm ages and sizes. It remains unclear how large, established and small, young firms differ when facing crises. Finally, this study is based on the Chinese setting, and it is not clear whether the findings apply to other markets as well. These issues should be explored in future studies.

Changing firms’ core structures harms their performance during black swan crises because such crises are unpredictable, and planned changes may not adapt firms to crises. Managers should not attempt to change their core structures during crises. B2B strategic alliances provide an effective means for firms to survive crises.

This paper makes two contributions to the existing literature: First, this paper demonstrates that changes of one of the four core structures of a firm to cope with black swan events have negative impacts on firm performance. Second, this paper identifies the importance of holding a variety of strategic alliances previously to the black swan events to reduce the negative impacts of changing core structures.