Term
|
Definition
buy well-run company and keep existing management
-motivation: diversify investment
-outcome: little learning
-rOI difficult to recoup |
|
|
Term
|
Definition
going inter. higher than domestic ROI
sale foreign investment environment
access to retail know-how |
|
|
Term
|
Definition
us only franchising for RI- expand opportunistically (reactive) little learning. not strategic
motivation: contract with master franchisor, who finds franchisees to run units
-identification of good master franchisor is difficullt
-goal: use resources of others to reap benefits of internat. exp. |
|
|
Term
| similarities of acquisition and pure franchisors |
|
Definition
-poor forms of RI
-both types dormant management (little knowledge transfer, very expensive investment, not strategic-just finiancial)
-these types cannot be predicted |
|
|
Term
|
Definition
-can be predicted
-strategic (capture rents from proprietary knowledge, gain scale (size) efficiencies, gain scope (across formats) effeciencies) |
|
|
Term
|
Definition
decisions made centrally, i.e. at headquarters
-top level decisions pushed down thru organization to be implemented
challenge: applicability at local level |
|
|
Term
|
Definition
decisions made locally (i.e. store level)
local decisions made, results/outcomes accumulate througout organization
challenge: cohesive implementation and brand image |
|
|
Term
| aspects of global retailers |
|
Definition
-standart format globally
-centralized management
-often use business format franchises for RI
-often backwards vertically integrated
-big use of private label
-look for global market segments in world-class cities
-target customer segment that exists everywhere
-small-medium sized stores
-explit unique niche, colonize their concept
-not hgih degree of learning
-ex zara |
|
|
Term
| aspects of multinational retailers |
|
Definition
-adapt retail format based on cultural differences
-decentralized management
-tend to use licensing for RI
-usually expand within a geographic area
-often source locally
-saturate home market before RI
-light use of private label
-large stores
-learn from each country experience
-ex walmart |
|
|
