Chapter 1 Introduction 1.

1 Purpose and Research Question
How should we conceptualise the business world around us? How should we assess and evaluate the strategy of companies? What are the winning strategies for those companies who have consistent success over the years? All of these can be concluded as one single research question in this dissertation—Which global strategy wins out?---A Calori analysis on 18 sectors of Fortune 500 companies. Thanks to numerous Calori-base strategic studies which conduct by the University of Edinburgh, sectors includes telecommunication, consumer good, oil, banking etc., has provided a perfect cluster of study for reflecting the old studies and possibly by using Calori‟s(2000) theory to identify a pathway for becoming globally successful companies (Khor,2003; Salgado,2002;Somaraju,2004;Wilkinson,2001 etc.). This article would firstly classify the top 500(Fortune.com) companies into 9 categories, update the previous studies and analyses performance changes across the set of categorisations , and adapt the typologies and analyse performance differences cross the whole set of the categorisations. And then use longitudinal method to compare their performance. The article will also take the global concentration of the industry and scale of economy into account. After the comparative study, we might see how this approach can yield strategic insight and make recommendations at an early stage in internationalisation. The other possible outcome of the research is to identify a most profitable strategy configuration and make suggestions for companies‟ operational improvements.

Chapter 2 Literature Review
2.1 Literature Review This section reviews literature that applied to support the dissertation. As the dissertation is in the area of globalisation, strategy and configuration of international strategy, this first part would draw on the definition and debates on globalisation, and then goes to the definition of strategy, finally continue on the discussion of Calori et al(2000) and Bryan et al(1999)‟s configurations of international strategy. 2.1.1 Definitions & Arguments for Globalisation According to Havel(2007), scholars studying globalization often express the perspective towards globalisation is that there is no generally accepted theory. Under this background, several competing stream of theories can be found. As Held&McGrew(2007) articulates that „there is no singular account of globalisation has acquired the status of orthodoxy‟. It is no wonder to find all of them has certain political implications, therefore the views they hold are somewhat biased(Havel,2007). Sceptics mainly include Rugman,A. ,Ghemawat,P., Thompson,G. and Hirst,P. They have shown a consensus view that the process of internationalization is globalization, i.e. the cross-border movement of capital as well as labour, the growing interaction between economy and societies between countries(Ghemawat, 2007; Rugman,2001; Hirst et al,2009). Based on this argument,

globalisation is a continuation and extension of the existing concept instead of a new phenomenon. Applying to this rule, the growing trade from the industrialised countries to their dependents or colonies since the 19th century marked the prime age of internationalisation (Field et al, 2008). Rugman(2004) has defined globalisation as „a myth that never really occur‟ .He asserts in his The Regional Multinationals that the main cause of globalisation is the activities of multinational enterprises(MNE‟s) act regionally, e.g. regional triad(the EU, Japan and USA) and not globally. He states that political factors and institutional organisations reinforce business at a regional level rather than at a multilateral one as required by his globalisation standard (Rugman,2004). Rugman does not seem to agree that globalisation has been happening in the real world, he support his hypothesis by providing the statistics taken from manufacturing and production. Likewise, Ghemawat used quite specific aspect of society and demonstrates with statistics that claim his argument that “we live in an era of semi-globalization at most”. Here are some quotes: “Only 3% of people live outside their country of birth” “Only 7% of rice is traded across borders” “Air travel is restricted by bilateral treaties” (Source: Ghemawat,P. 2007. Redefining Global Strategy. Harvard Business School Press) Ghemawats(2007) noted that it is necessary to see what the world really is and never underestimate the differences across countries, and this is the key for global strategy. However, there are some scholars hold completely different views in this debate. Kenichi Ohmae(1990) has noted that due to the removal of border and other constraints, the integration of global economy has been accelerated and characterised as “strong globalisation”. Ohmae(1985) argues that the globalisation is dominated by a „triad‟ power, which accounts for large share of the international trade. Each of these regions has strong complementary products which enhanced the global production and consumption. Yip(2003) has confirmed the trend of globalisation by providing further insight into the forces that drives globalisation. Yip also argues that the comprehension of Competitive global forces could help a company to identify the key success elements in a global industry or market.
Potential for Globalisation

Cost

Government

2.1.2

Definition for Strategy The growing movement towards internationalization has pushed industry across national boundaries, and brings about both opportunities and new threats. In order to interpret the business and environment in an national/international basis, strategy issues have been raised up(Leotiades,1985). Corporate strategy rooted in the theory of Igor Ansoff, Peter Drucker and Kenneth

Market

Globalisation Drivers (Source: adapted from Yip,G.S. 2003.Total Global Strategy II,2nd ed.,Pearson Education.)

small scale firms tend to outsource and increase their percentage on overseas sales. p.. “Epistemology.W. policies and program strategies to achieve them. they have identified what business the firm is in and what business it should be in. Winter.Paul: West Publishing Co. Management Policy and Strategy. St. 1977. and Schendel. P.3 Classification of international strategies Whether concentration is taking place globally has remain a controversial issue(Krauland et al. p. It deals with the changes in firm‟s business and address the firm‟s existing business(Lynch.J.Andrews.pp.I.7. Competitive Strategy.R.6.5-6. and objectives. Strategy Formulation: Analytical Concepts. Porter. McGraw-Hill.35.. Corporate Strategy and Academe”. and Miner. 1977.H. This is the area of corporate strategy.A.C.The recent research on corporate strategy has focused on the relationship between the firm and its external environment( see figure 1.” “Strategy refers to the formulation of basic organizational missions. p. New York:Macmillan.M.C.: Irwin.J.. Ansoff.2006). The Structuring of Organizations. Leonidou and Katsikeas (1996) has noticed the market concentrators tend.B.p.1.1) below: Authors Andrews(1965) Definitions “Strategy is the pattern of objectives.Business Policy: Texts and Cases.N. and the methods needed to assure that strategies are implemented to achieve organizational ends. Prentice-Hall.Andrews. and Bower.” “To use an engineering term.1974. p. the strategic problem is concerned with establishing an „impedance match „between the firm and its environment or.” “Strategy formulation therefore involves the interpretation of the environment and the development of consistent patterns in streams of organizational decisions. 1980.3. ) 2. purposes or goals and major policies and plans for achieving these goals stated in such a way as to define what business the company is in or is to be in and what kind of company it is or is to be.K. which . 1973.” “The institutional sphere deals essentially with the relationship between the organization and its environment. Hofer. it is the problem of deciding what business the firm is in and what kind of businesses it will seek to enter. New York.D.D. Mintzberg.Sloan Management Review.” “The basic characteristic of the match an organization achieves with its environment is called its strategy.R. basically.J. in more usual terms.L.” Ansoff(1965) Mintzberg(1979) Steiner Miner(1977) and Bowman(1974) Hofer and Schendel(1978) Porter(1980) (Sources: Christensen. 1979. Corporate Strategy. New York: Free Press. 1965.25. purposes. Englewood Cliffs.” “The essence of formulating competitive strategy is relating a company to its environment. Homewood.1989).107.E.H. 1978.III. Steiner.R. Bowman.

but larger share of total profit pool •Constant ROE with high book equity growth Fig. become „specialist‟ eventually. according to the competitive advantages(Penrose. eventually going globalised. The traditional route for internationalisation is moving from domestic to regional. While others may see the globalisation. Bryan et al(1999) has proposed that companies engaged in two fundamentally different midgame strategies—“integrator” and “specialist” strategy. In practice.J. a company can either be an integrator.W. Administrative/political. Harvard Business Review Press. Ghemawat(2007) has proposed a model in terms of the distances between countries along a variety of Cultural. As the globalisation continues. merge & acquisition (M&A) as destroying shareholders value (Fuller&Stopford..J. Specialists •Become world-class in areas of specialization •Leverage intangible capital scale •Gain intangibles-based access •Generate high returns. The two „mid-game‟ strategy typologies deal with more globalised industries.) As aware of the overlaps between Calori et al(2000)‟s four types of world-wide players and four international challengers and the Bryan et al(1999) four typologies in identifying the international strategies. Each of them responds to one of the two types of industry reshuffling that symbolise the alteration economy.1992). and Rall. then multinational. Although Calori et al (2000) . the shaper strategy is complementary. Bryan et al(1999) argues that in transitional stage. „global shaper‟ will continue to use their valuable asset to shape the global industries(see Figure 1).. Geographic and Economic(CAGE) dimension to identify the key concerns in globalisation regardless of border.Oppenheim.1 (Source: Bryan. The other approach is to focus on the key competence and differentiation. L. Fraser.1959). for companies has potential to be in winner in the „end-game‟ of globalisation. 1999. Race for the World: Strategies to Build a Great Global Firm. countries like the USA or clusters of economically-cooperated unions like the EU have advantage in eliminating the geographic barriers by merging or acquiring with companies in neighbouring market.but capture small piece of profit pool •High ROE with little book equity growth Shapers •Dominate "slivers" •Become intangible-heavy and capital-light •Capture increasing returns and arbitrage opportunities •High ROE and book equity growth Geographic Incumbents •Lack world-class skills •Access and scale advantages limited to geographic region •Geographic advantages erode •Low ROE and low book equity growth Geographic Integrators •Gain access to customers and scale effects •Gain advantage through cross-geographic arbitrage •Earn lower returns.echoes to people who asserts that concentration is essential for gaining market share internationally. First Edition Edition. as advantageous „mid-game‟ player.

Companies fall into this group often adopt a moderate strategy towards internationalization. The first two clusters adopt an offensive strategy. which aims for leadership and expansion. usually not beyond one continent (Calori et al. these two categories are very much nationally focused. These four are keener on cost efficiency. The other four configurations describe firms are „international challengers‟.has mentioned „country-centred‟ player or Bryan et al(1999)‟s „geographic incumbents‟. but only quasi-global players and the transnational restructurers‟ are featured as seeking market share. global luxury niche players. a portfolio of brands and focused on the extension of core competences by taking over foreign companies. 2000).1 Overview In terms of research approach. They seem to have growth ambitions but only extend to homogenous geographical zone. geographical niche players. Therefore. the other possible outcome of this study is to find out the globalisation and its effect across all major industries. along with any differentiation advantages. Table 1. The latter two are more defensive. neither of them have come up with a classification of „local player‟. In principle. Firstly will brief research theory and strategy. „Transnational restructurers‟ tend to have broad segment scope. „Quasi global players‟ have relatively narrow segment scope. or territory may correspond to an area of cultural and economic influence. The constraints of the study and ethical issues are covered in the end. The strategy for global shapers are tend to be more innovative-based. geographical niche players tend to extend to a homogeneous set of countries. They are characterised by a specific process of internationalization and competitive strategy based on differentiation. Four of them have a wide geographical scope. testing of theory Qualitative Inductive. Calori et al‟s configurations which describe firms with a worldwide geographic scope are: Quasi global players. generation of theory . transnational restructurers. they often set up the benchmark for the industry and trigger the change in the whole industry. 3.1 gives a clear comparison between the two. Chapter 3 Methodology The methodology that applied to answer the research questions will be discussed here. to see if the most successful companies in the planet have a win-all strategy or not. Moreover. My study is to test if the international configuration approach can yield a critical assessment for global players. opportunistic international challengers. and country-centred players. Fundamental differences between quantitative and qualitative research strategies Quantitative Principal orientation to the role of theory in relation to research Deductive. worldwide technology specialists. there are two types: deductive and inductive. and followed by demonstrating tools and methods in classification and data analysis. which includes continental leaders.

the process of deductive method could be viewed as follows: Theory Hypotheses Data Collection Findings Hypotheses Confirmed or Rejected Revision of Theory (Source: Text from Bryman and Bell. Based on the theory presented above.2009) However. normally either use a single data collection technique and corresponding analysis procedures(mono method) or use more than one techniques(multiple methods)(Saunders et al. (Source: Saunders et al. single research study tend to use multiple methods more within business and management research nowadays. the research purpose of this dissertation is to identify which strategy can help top 500 companies win out. quantitative and qualitative are the two different groups of research approach. a deductive approach is suitable for conveying the research. 2009).2011) Natural science model. the research philosophy for each . In business research method choosing.Epistemological orientation Ontological orientation (Source: Bryman and Bell.2 The Selection of research philosophy and approach .2011) Echoing to the literature review.Research feasibility and research design As Bryman &Bell(2011) noted. according to Curran and Blackburn(2001). 3. in particular positivism Objectivism Interpretivism Constrctionism Related to quantitative methods. Since research philosophy determines the choice or research approach and time frame.

and it is impossible to ascertain the nature of this effect (Saunders et al.2011).2009). it needs lots of quantification in the data collection and analysis in international strategy. As Tashakkori and Teddlie(2003) argues. subjective and changeable(Thomas.approach will be discussed here. As Saunders et al(2009)‟s theory. Given to the nature of this project . As Saunders et al(2009). 2010). therefore. Although the quantitative approach has provided statistical strategy analysis. some focus in specific industry or case study will be need in the later stage. Moreover.2 Qualitative research approach In the opposite. 2003). It suits the project well.1 Quantitative research approach Quantitative approach holds the positivism philosophy. But at this stage. quantitative research needs a large size of sample to develop generalization. multiple methods are useful if they could provide better outcome in terms of solving the research question. qualitative research are likely to be connected with words instead of statistics(Bryman and Bell.1999). universities and business schools are often oppose the use of qualitative approach and listed them as second-rate(Gummesson. quantitative approach is feasible for my research since I can get access to the online database of Thompson One Banker and Fortune 500. quantitative approach is chosen as the research approach instead of multiple methods. 2003). which claims the nature is socially constructed.com. which aim to test the existing theory and sophisticated statistical analysis for testing the hypotheses. This method of data collection and analysis is always conducted through personal experiences and observations (Anderson. 3.2009). Saunders et al(2009) noted that the advantages includes the use of open-ended questions and the flexibility of getting answers from the participants(use „how‟ and „why‟). qualitative research is generally used as the synonym for data collection or analysis which uses or generates non-numerical data. Acknowledged by Smith (1981). Therefore. Qualitative method is widely used in decision making process and organizational learning (Anderson . The epistemological orientation of which is interpretivism. the use of secondary data has provided the project with enormous sample size. 3. quantitative method is .2010). The qualitative methods are applied to apprehend cause and implications of a particular social setting by investigating the individuals‟ interpretation of the social reality rather than numerical data (Bryman and Bell. Schiffman and Kanuk(1997) stated that the deductive approach is entailed with quantitative approach. which regards the world is constituted of observable and measurable facts (Thomas. the result of this research may be affected by the chosen method. Due to the obstacle of accessing to the companies‟ database. However. a mixed usage of the methods is necessary (Saunders et al. it is not feasible in this stage for me to carry on a qualitative method. In order to offset the differences due to the usage of methods.2.2. quantitative and qualitative data collection techniques and analysis procedures both have its merits and weaknesses. Muijs(2010) articulates that quantitative research is “ explaning phenomena by collecting numerical data that are analysed using mathematically based methods(in particular statistics)”. Apparently. since the research hypotheses can be tested through this way. As for the benefit of this unstructured approach. 2011).

of . Firstly. there are some drawbacks of secondary data. Pettigrew(1990) has emphasized that longitudinal study is important in understanding organizations as a way of providing data on the mechanisms and processes through which changes are created.3. 1993). it is necessary for researchers to combine primary data with secondary data. 3. However. To get an overall picture the top 500 companies‟ global strategy. Therefore. Last but not least. The data from Fortune 500 come from the July 25. The most obvious downsize of it is that the data are collected for other purpose. for which we could obtain the data from Thompson One Banker. the data provided by business consulting firms may be very expensive and difficult to acquire (Saunders et al. 3. Secondly. secondary data provides an excellent and convenient approach (Belcher et al.com(2012). 2009). collecting and analysing secondary data comes as the most efficient and applicable way. As for the expense. 2011 issue. academic journals and websites. the secondary data are available for time-constraint situation. a longitudinal design is applied. as longitudinal design requires historical data. This study used the documentary data. Secondly. Secondary data consists of three different sources: documentary data.3 Methods of data collection 3. which may differ from your research (Stewart and Kamins. survey-based and multiple-resource data(Saunders et al. if it is possible to get access to some companies. or try to find the secondary data which has been collected for the similar purposes. 3. with the purpose of pursuing a research interest which is different from that of the original work.1996). from an extensive range of industry reports.1 Secondary Data Heaton(1998) has defined secondary data as the existing data which collected for the purpose of study.3 Research Design Due to the nature of the research.3. 3. we first categorise and analyse the performance of the most successful companies of all time. In order to find out if there is any change in the strategies of top 500 companies and examine if there is a strategy that could win in the market consistently. secondary data provides more reliable sources and larger data base because they have been collected by either companies themselves or professional companies.applied. Moreover. the cost for individual researcher or small institution to undertake that big scale of companies‟ financial performance and strategies is impossible.2 Statistical Techniques Excel spread sheet is used to analyse and classifying the financial data.3. the rest of the research may include the case study (qualitative method). the public companies and authority institutions usually provide free data and the quality is guaranteed.3 Classification of the Data Having collected the data from Fortune. 2009). longitudinal design is the suitable choice. and secondary data comes easy and low-cost..2.

high priced segme nts Licens ing and franchi sing Homo geneo Narro w segme nt FDI policy/e ntry model Variable Mainl y organi c growth Homo geneo Variabl e Standa rdisatio Homoge neous Variabl e Mainl y organi c growt h Relati vely Franch ising Narro w. Table 1. Wide covera ge All key countri es. The companies selected were categorised according to the theoretical dimension proposed by Calori el al(2000)(as in table 1). while in industry like consulting. Gain market share Segmen t scope Narrow Set of countri es formin g a homog eneous territor y. 30 from the United Kingdom and the rest from Europe and other continents. Wide coverag e and market share All key countri es. 34 from Germany. Gain market share Relati vely narrow All key countr ies in a contin ent. Gain market share All key countrie s. Gain marke t share All key countri es All key countri es.2004) Countr y-centre d place(1) Geogr aphic niche player s(2) Oppor tunisti c intern ational challe ngers( 3) Home countr y and a few countri es.these top 500 companies. insurance. Market share/ market covera ge Few segme nts Conti nental leader s(4) Globa l luxury niche player (5) World -wide specia lists(6) Quasiglobal player s(7) Transn ational restruc turers( 8) Global shaper s(9) Geogra phic scope Home country. Some adaptation may apply due to the different nature of the industry. For example.m ost busines s segment s Most entry modes. it may be adapted to certain specialisation. the „worldwide specialist‟ was defined as technology-based. 68 were Japanese. 2000 and Leknes&Carr.but concer ns mass market Mainl y organi c growth Homo geneo Large. 133 were American. International strategic configurations (Adapted from Calori et al. 35 from France. wide covera ge Relati vely large Narro w.f requent M&A Heterog eneous Narro w.but concer ns mass market Organi c or franchi sing Homo geneo Heavy standar .

2009. Sage Publications Ltd. The general procedure of the approach as bellow: Data Collection Measurement Coding Analysis Procedures (Source: Bryman.n us Interna tional integra tion of value chain activiti es Dependi ng on sector.1 Methods of analysing quantitative data The secondary data associated with the research question will be used for developing mathematical expressions that could describe the objectives. Besides. and the main determinants of geographical scope. Then we will use one or more quantitative methods to analyse the problem and make suggestion on the quantitative aspects of the issue. „Transnational restructurer‟ and „Opportunist international .A. constraints and other relationships that exist in the problem ( Anderson et al. Global sourci ng Variabl e homo geneo us Global sourci ng us us us disatio n Global sourcin g. Only 215 of categories are reasonably applicable. we also closely examine their key performance ration. . we closely look into a number of countries which enjoy a large presence in overseas operations. The primary usage of the data will be firstly classified according to the configuration of Calori et al (2000). such as return of capital employed. vertical integrati on Global supply chain manag ment Often manuf acturer control led.) 3.4.4 Methods of Data Analysis 3. All the secondary data collected were served for international strategy analysis.4.&Hardy. Produc tion in home countr y Often vertica l integra tion Global supply chain manag ement After gathering the information.M. Handbook of Data Analysis. year-by-year/average overall. 2010).1 Industry Analysis The classification of Calori et al(2000) for 15* sectors are shown in Table 2. 3. pre-tax profit margin and revenue.1. Paperback Edition Edition. Domesti c focus Depen ding on sector.

Table 2. 8. 5. 7.86% respectively. 9. 2. 4. see *note) Country -centred place(1) Geog raphi c niche playe rs(2) Oppor tunisti c intern ational challe ngers( 3) Conti nenta l leade rs(4) Glo bal luxu ry nich e play er(5 ) World -wide specia lists(6 ) Quasi -globa l player s(7) Transn ational restruct urers(8) Glob al shap ers(9 ) 1. 3. Alumin ium Industr y Bankin g Industr y Compu ter Industr y Consul ting Industr y Consu mer Goods Industr y Beauty Industr y Clothin g Industr y Grocer y Industr y Retail . account for 25.challenger‟ seem to be the most successful ones.58% and 21. 6. Categorisation of 500 companies( Incomplete yet.

Industr y 10. we notice that there are some firms shows more than one characteristics of one category. software. the international strategy is blurring. Constr uction Industr y 13. Oil Industr y 15. Marks&Spencer was defined as a continental leader back in 2004.5%. Pharm aceutic al Industr y 12. Sagner(2010) has classified these firms as „category killers‟. Tesco and Metro have utilised a range of retail formats across sectors like clothing. In classifying the companies. which has been noted by Calori et al(2000) in manufacturing—half of the US/UK and Chinese firms are tend to be „country-centred‟ players. 3 more will be added in the later study) Then followed by „global shaper‟ and „quasi-global player‟. each is around 13. some companies have not been very constant in one category. 2011) (*Note: Due to time constraint. while the failure in global expansion and the radical change executed by the newly-pointed CEO has made it as country-centred strategy rather than . they make changes time to time according to their performances in the market. 2011. due to the time constraint.. only 15 sectors listed here. Thompson One Banker. with more than 50% of their market at home. The country effect. While the firms from continental Europe seems more unlikely to fell into this category. Steel Industr y 14. the detailed classification on each sector will be completed in the next few months. Teleco mmuni cation Industr y Count 21 11 47 12 4 8 28 55 29 (Source: Fortune 500. banking etc. However. It is understandable since the US has such a huge domestic market. For example. Insura nce Industr y 11.

2 Averaged performance statistics by type of strategy In order to compare the influence of all 9 international strategies. Vodafone.4. by contrast.1. Figure 3 shows the average sales growth. positioning itself as a premium player in all major continents and key countries.continental leader. It indicates that „country-centre play‟ may experience some downfall before gaining the real global market share. here we use return on capital employed and average sales growth. Average ROCE 16 14 12 10 8 6 4 2 - Figure 2 Average Sales Growth % 12 10 8 6 4 2 - Figure 3 . 3. has since rapidly moved towards a global strategy.

Any benefits or harms of the project will inform the secondary data provider. Regards to ROCE. All of the academic work here will not be used as commercial way.8%. 1978 cited in Bryman and Bell. All in all.5 Limitations The limitations of the methods come from constraints of time. there is no harm to the data provider. having scored higher than the average level. together with „Worldwide specialist‟. financial support. the time for dissertations is only 3-4months. show only 3% in ROCE ratio. And the data will be kept only in users‟ computer. it is very expensive to acquire. „Worldwide specialists‟ still perform badly in ROCE. Further investigation on the applicability is needed. my study has level-1 approval from the University of Edinburgh without any . 2012). the only exception is „Quasi-global player‟. need to consider whether such analysis can really support the managerial or strategic decisions. In other extreme. Firstly. Firstly. managers or whom may concern on applying this strategy.ROCE displays a similar pattern. Third. especially for this fairly new point of view. The performance of „Geographic niche player‟ is the poorest in this ranking. and also from Fortune 500(Fortune. Fourth. Although the analysis consists of top 500 listed companies from the Fortune magazine. which has full copy-right. „Global shaper‟ performs extremely well in terms of ROCE. since some companies‟ financial performance data are confidential and only available in some consulting firms. „Quasi-global players‟ are slightly better in this figure. the secondary sources come directly from the business school premium information source. For all category. The companies and strategies analyses and classification needed in the project is massive and time-consuming. while the performance is not consistently good in annual sales growth (6%). it may have some flaws and affect the whole analysis. and the average ROCE is satisfactory as well. it may still not represent the whole general trend of the whole industry. their ROCE has nearly doubled the average figure. Secondly. 3. it beats every other strategy. „country-centred player‟ can be very profitable.com. In fact. 2011:128) The secondary data of this study were mainly from Thomson One Bank. the relation between annual growth and average ROCE are positive. only reached 5.6 Ethical consideration There are four ethical principles in business research as shown in bellow: Whether there is harm to participants Whether there is a lack of informed consent Whether there is an invasion of privacy Whether deception is involved (Source: Diener and Crandall. the data acquired from secondary agencies. „Quasi-global player‟ perform worst in terms of annual sales growth. As seen from the graph. Secondly. 3. which is very limited for convey such a big project.

Again. it only allows less than five months to finish the whole research process. In order to get the clear picture of the corporate strategy across border and sectors. longitudinal studies. Chapter 4 Conclusion The aim of this project is to find out a win-out strategy from analysing the Fortune top 500 companies. and it has been approved by my supervisor Professor Chris Carr. it is feasible to convey such a complicated study. According to Rubin&Babbie(2010).2010). arguments such as Bhagwati(2007) have articulated that . far-reaching goal. the Fortune 500 list and the database of Thompson One Banker are used here. Overall. model etc. Rubin&Babbie articulated in their book that another common issue for researchers is the time & budget limit. In short. case-study if the access is possible Writing up the dissertation. has proved as a great analytical tool.Aug July August Last but not least. hand it in by 19th. the framework has proved to be applicable to many other sectors. research feasibility is so much higher if they have rigor and passion for the chosen field(Rubin&Babbie. the configuration performance analysis(CPA) based on Calori‟s(2000) international configurations. This study does no harm to individual and company. 3. One of the biggest issue in this research is the broad database. also the enourmous related previous research. The analysis also have indicated a contradictory view towards some traditional hypothesis. the cost of collecting primary data is expensive and time-consuming. The data for the Calori et al(2000) classification here include 10 years of the companies‟ performance and strategy in order to carry on the trend study. the research ethic problem (see from 3. it is a common mistake for most inexperience researchers to formulate these idealistic.. While under the supervision of my supervisor. We also found it is helpful to combine McKinsey‟s „global shaper‟ configuration(Bryan et al. the only way to make the research more feasible is applying secondary data and a clear time schedule ( Figure 3). Although the Calori‟s framework has been developed on the basis of manufacturing industry (study of Mars/Nike/Coke). Time April May June Content Literature review. Due to the short length of the program.7 Feasibility of the study Either sophisticated or inexperienced researchers. data collection and classification Data classification Data analysis(Framework.1999). and has great contribution to the strategic decision of multinational companies in various sectors. combined a bit with the McKinsey‟s configuration. finish the first edition Final edit and check.ethical issues. The outcome of the analysis is effective.6).

Those factors are characteristic and secrets of success. The long term consistent global winners have the ambition on all countries from all continents. and they usually have long-term commitment in markets with many regional incumbents. Also. flexible and innovative. .the defence of globalisation. their corporate culture is strong.

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