Michael A . Hitt - Profile on Academia.edu (original) (raw)

Papers by Michael A . Hitt

How Does Guanxi Shape Entrepreneurial Behaviour? The Case of Family Businesses in China

British Journal of Management

This paper explores how Guanxi shapes different levels of entrepreneurial behaviour of family bus... more This paper explores how Guanxi shapes different levels of entrepreneurial behaviour of family businesses in China. Extant research draws on network theory, suggesting that firms focusing on less intimate social relationships are more entrepreneurial than those focusing on intimate social networks. However, this notion of networks neglects Guanxi’s indigenous cultural roots that promote intimacy in social relationships, thus limiting our understanding of why some firms in China demonstrate a higher level of entrepreneurial behaviour than others. Through an in‐depth multi‐case study analysis of eight family firms in China, we find that Guanxi is a multi‐dimensional concept that can only be effective through intimate relationship building. This study contributes to the social network literature on entrepreneurial behaviour by incorporating the gift exchange theoretical perspective and demonstrating that political Guanxi in China can only facilitate entrepreneurial behaviour when it is ...

Institutions and entrepreneurship in a non‐ergodic world

Global Strategy Journal, 2021

Research SummaryThis special issue advances the global strategy and entrepreneurship fields by pr... more Research SummaryThis special issue advances the global strategy and entrepreneurship fields by providing a better understanding of the linkage between institutions and entrepreneurship. We provide an overview of existing literature in three key research areas: (a) the impact of institutions (types and complexity) on entrepreneurship, (b) the effect of institutional evolution (overall evolution and interplay among institutions) on entrepreneurship, and (c) the coevolution of institutions and entrepreneurship. We introduce the eight articles appearing in this special issue, examine the relationship between institutions and entrepreneurship in a non‐ergodic world, and highlight meaningful and promising avenues for future research in each of the three key research areas in the domain of institutions and entrepreneurship.Managerial SummaryThis study clarifies the complex relationship between institutions (the rules and norms that govern economic transactions) and entrepreneurship. Our di...

Industrial Firms' Grand Strategy and Functional Importance: Moderating Effects of Technology and Uncertainty

Academy of Management Journal, 1982

MICHAEL A. HITT R. DUANE IRELAND Oklahoma State University KA PALIA Godrej & Boyce Mfg. Co. P... more MICHAEL A. HITT R. DUANE IRELAND Oklahoma State University KA PALIA Godrej & Boyce Mfg. Co. Private Ltd. ... The impact offour grand strategies on the relative im- portance of seven organizational functions and the

Strategic management: competitive and globalisation: concepts only

Volberda, Morgan and Reinmoeller have joined with Hitt, Ireland and Hoskisson to develop a truly ... more Volberda, Morgan and Reinmoeller have joined with Hitt, Ireland and Hoskisson to develop a truly landmark strategic management textbook that is ideally suited for courses in Europe, the Middle East and Africa as well as other global markets. With a new process perspective to supplement the text's trademark integrated approach, Strategic Management: Competitiveness and Globalization provides the most comprehensive and thorough coverage of strategic management now available in the market.Whilst maintaining the strengths and hallmark features of the original work, this new strategy text has been specially prepared to match the modern EMEA curriculum with boosted coverage of implementation issues, analysis of how firms use strategic management tools, techniques and concepts, a balanced emphasis on economics and resource-based perspectives and expanded coverage of comparative governance and organizational renewal.

The Contingent Effect of Synchronization on Leveraging Resources for Innovation

Leveraging resources to exploit opportunities in external markets is at the heart of innovation. ... more Leveraging resources to exploit opportunities in external markets is at the heart of innovation. However, research suggests that leveraging resources is complicated and fraught with challenges. Bui ...

Mergers and Acquisitions: A Value Creating or Value Destroying Strategy?

... Ohserving this company&amp;amp;#x27;s success with an active acquisition strategy, an... more ... Ohserving this company&amp;amp;#x27;s success with an active acquisition strategy, an analyst suggested that Cisco&amp;amp;quot; has ... that some of the most valuahle of those assets, human talent, will he ... hostile negotiations produce greater turnover in the acquired firm after completion of the acquisition. ...

Business Horizons, 2019

Public entrepreneurship is much like its private sector counterpart; however, public entrepreneur... more Public entrepreneurship is much like its private sector counterpart; however, public entrepreneurs face additional challenges due to weaker competitive forces in the public as compared to private sector, with objectives that often are poorly defined and performance that is difficult to measure. Despite the impact on public good, how to enact changes successfully in public sector organizations to be more entrepreneurial is poorly understood. This article summarizes current research on public entrepreneurship and presents a detailed case study of a successful entrepreneurial change in a public sector organization. A five-step change process used to enhance entrepreneurial behaviors was implemented in a public sector organization and the qualitative and quantitative results demonstrated substantial performance improvements over 4 years (i.e., quantitative performance in some areas was more than 10 times greater). We explain key steps that produced successful outcomes and how to avoid common challenges in the implementation of ongoing entrepreneurial behaviors in public sector contexts.

Building competitive strength in international markets

Long Range Planning, 1987

ABSTRACT

Competing For Advantage -2/E

Resources, Industry Membership, and Firm Performance: The Role of Capability Configurations In Value Creation for IPO Stage New Ventures

Frontiers of …, 2007

A widely held belief is that resource constraints and industry conditions can threaten the perfor... more A widely held belief is that resource constraints and industry conditions can threaten the performance of entrepreneurial ventures. While previous research links resources to different performance outcomes, no research has explored the performance implications of resource use, ...

Understanding Business Strategy: Concepts

UNDERSTANDING BUSINESS STRATEGY encourages a hands-on approach to learning with applications and ... more UNDERSTANDING BUSINESS STRATEGY encourages a hands-on approach to learning with applications and features such as: experiential exercises, BizFlix video clips, and brief end of chapter cases. Further, features such as the Strategy Tool Box and Your Career provide practical tools as students embark on their own careers. After reading Understanding Business Strategy, students will not only have an understanding of modern strategic management; they will also grasp the application of these tools in their own careers.

Journal of Product Innovation Management, 2021

Leveraging resources to develop innovation is central to exploiting market opportunities, yet doi... more Leveraging resources to develop innovation is central to exploiting market opportunities, yet doing so is complex and fraught with challenges. This study explores some of this complexity by theoretically detailing and empirically examining the critical role that synchronization plays in the process of leveraging resources to create innovation. Specifically, we integrate resource orchestration with the behavioral theory of the firm to investigate the joint effect of synchronization and leveraging strategies on innovation under different performance conditions. Using policy capturing methodology resulting in 3600 observations from 120 managers, we find empirical evidence that synchronization can enhance innovation outcomes of all leveraging strategies. Yet, this positive synergistic effect occurs in high performing firms that use the resource advantage and market opportunity leveraging strategies and in low performing firms that use the entrepreneurial leveraging strategy. Our theory ...

The (COVID-19) pandemic and the new world (dis)order

Journal of World Business, 2021

Abstract The COVID-19 pandemic produced a significant environmental jolt that has altered the tra... more Abstract The COVID-19 pandemic produced a significant environmental jolt that has altered the trajectories of economies and institutions and the strategies of MNEs. We examine the pandemic effects on countries’ political and regulatory institutions, the interplay between their formal and informal institutions and the resulting environmental uncertainty. These changes are transforming the global landscape, MNEs’ raison d’etre and their international strategies. MNEs are having to change or develop new country- and firm-specific advantages, refashion their FDI, focus supply chain networks, and emphasize regional strategies and localization. Although these strategies may help them to bound uncertainty, they produce other forms of risk. A new economic order is likely to arise along with transformed MNEs.

Journal of Management Studies, 2020

A New Normal environment for business has emerged in the years after the 2008 financial crisis ba... more A New Normal environment for business has emerged in the years after the 2008 financial crisis based on numerous changes in the world's economic, technological, demographic, and sociopolitical factors. This combination of changes has created a New Normal environment for firms with major implications for managers, strategists, and entrepreneurs alike. It has resulted in an environment with new challenges and opportunities that are considerably different from what firms had to contend with in the years previous. In this paper, we present the main changes that characterize the current New Normal business environment and highlight some key implications for strategy and management. Then, we present the nine articles in this special issue dealing with different dimensions of this new environment for firms. Subsequently, we outline some future research questions that could help to advance our knowledge of the New Normal environment and its implications for firms and management theories...

Journal of World Business, 2018

Multinational enterprises (MNEs) use the regional aggregation and integration of their foreign di... more Multinational enterprises (MNEs) use the regional aggregation and integration of their foreign direct investments as an important part of their internationalization. Internationalization decisions are integrated at the region level; however, little work has focused on explaining the extent of this regional integration. We develop theoretical arguments and test new hypotheses about MNEs' general international experience and international geographic scope (i.e., institutional diversity and international dispersion) as predictors of their extent of regional integration. The results from a sample of Japanese MNEs validate these different effects, suggesting these MNE level variables are important for regional influences on their internationalization decisions. The results further our understanding of how MNEs organize their internationalization and strategic geographic foci.

Entrepreneurship Theory and Practice, 2016

Despite its importance, there is no clear understanding of the uniqueness of family firms’ intern... more Despite its importance, there is no clear understanding of the uniqueness of family firms’ internationalization. This article sheds new light on this issue with a meta–analysis of 76 studies covering 41 countries. We show that the considerable study and cross–country differences in the relationship between family firm and internationalization are explained by the roles of family control, internationalization types, and home countries’ institutional contexts (i.e., minority shareholders protection and generalized trust of people from other countries). Therefore, we examine the existing divergent results using theories that reconcile some of these mixed findings and shed light on family firms’ specific internationalization challenges.

Long Range Planning, 2017

Access to the published version may require subscription. N.B. When citing this work, cite the or... more Access to the published version may require subscription. N.B. When citing this work, cite the original published paper.

The Effects of Acquisitions and Restructuring (Strategic Refocusing) Strategies on Innovation

The Management of Corporate Acquisitions, 1994

The decline in global competitiveness among US firms has been well documented (Franko 1989; Hill,... more The decline in global competitiveness among US firms has been well documented (Franko 1989; Hill, Hitt and Hoskisson 1988; Young 1985). Accompanying this decline has been an increase in merger and acquisition activity that occurred in two surges — one in the late 1960s and one in the 1980s (Ravenscraft and Scherer 1987). Research has shown that acquisition strategies may involve trade-offs. For example, while acquired firms’ shareholders often gain significant abnormal returns, acquiring firms’ shareholders, on average, receive zero or slightly positive returns (Jensen 1988). The purpose of this paper is to examine the potential link between the decline in competitiveness and acquisition and divestiture (refocusing) activity.

Strategic Organization, 2016

Mergers and acquisitions research has principally focused on attributes of the acquiring firm and... more Mergers and acquisitions research has principally focused on attributes of the acquiring firm and post-acquisition outcomes. To extend our knowledge, we focus on external factors, in particular rival responses, and explore when and how rivals respond to their competitor’s acquisitions. Leveraging the awareness–motivation–capability framework, we predict and find evidence that a rival’s dependence on markets in common with the acquirer, resource similarity between rival and acquirer, and a rival’s organizational slack increase the volume and, in some cases, also the complexity of a rival’s competitive actions following an acquisition. Furthermore, the type of acquisition positively moderates some of these relationships. The results extend our understanding of the influence of mergers and acquisitions on competitive dynamics in the marketplace.

Strategic Leadership: Strategy, Resources, Ethics and Succession

Handbook on Responsible Leadership and Governance in Global Business

... long-term viability such as in human capital, innovation and creating/maintaining an effectiv... more ... long-term viability such as in human capital, innovation and creating/maintaining an effective culture (Hoskisson and Hitt, 1994). ... Those with a synergistic integration of visionary leadership and managerial leadership demonstrate what Steven J. Ross described as a strategic ...