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Title: The effects of globalization on strategy formulation in the German foundry industry : an empirical study
Author: Brauckhoff, Heiko
Awarding Body: University of Surrey
Current Institution: University of Surrey
Date of Award: 2012
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Abstract:
Strategy formulation is most critical in times of change and has long been a topic of great interest in the field of strategic management, because the effectiveness of formulating the right strategies determines whether companies are able to change and adapt to their environment, and therefore whether they are ultimately successful. Within the ongoing process of globalization, SMEs also recognize that the competition for market share is global, and that participating in the global economy is no longer a choice but a necessity. Therefore, globalization exposes SMEs to numerous strategic and organizational challenges emanating from a dramatic increase in diversity, complexity, and uncertainty - external as well as internal to the company. The thesis aims to provide an answer to the following research question: "Are there any effects of globalization on strategy formulation based on resource-orientation and/or market-orientation in the German foundry industry?" The thesis follows a positivistic approach because in the literature a large quantity of data is available about strategy and globalization, which allows the researcher to generate research questions that are tested mainly by the survey. Therefore, the author has used a deductive and quantitative approach, because the theory of strategy making, such as the REV and the MBV, is used deductively. We have three significant practical implications of this research. First, strategy formulation is a blend of resource-orientation and market-orientation. Second, the MBV elements of strategy are overall more significant than the REV elements of strategy. Especially the size of the firm seems to be important regarding the strategic orientation. Third, who makes strategy determines the firms response in times of globalization. Overall, the findings join proposals to combine both the market-based and resource-based view when formulating strategies. When employed as blend of these two approaches, it encourages managers to think and act in ways that are more entrepreneurial and creative. Following these suggestions can substantially influence the strategy formulation and improve the performance.
Supervisor: Not available Sponsor: Not available
Qualification Name: Thesis (D.B.A.) Qualification Level: Doctoral
EThOS ID: uk.bl.ethos.580316  DOI: Not available
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