Download - Michael A. Hitt
Distinguished Professor of Management, Joe B. Foster Chair in Business Leadership, Mays Business School of Texas A&M University
His research actively incorporates and tests dimensions of the Resource Based View (RBV) of the firm, institutional theory and organizational learning theory
He is the author or co-author of over 200 journal articles and 26 books
Former editor of the Academy of Management Journal. He is currently the co-editor of the Strategic Entrepreneurship Journal
In 2001, he received the Irwin Outstanding Educator Award and the Distinguished Service Award from the Academy of Management
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Industry Institutions
The Resource Based View of the Firm
Distinctive Competencies (Hrebiniak & Snow, 1982; Hitt & Ireland, 1985, 1986)
Ricardian Economics (Ricardo, 1817)Penrosian Economics (Penrose, 1959)
Administrative Framework Coordinating Activities of Individuals and Groups
Bundle of Productive Resources
Wernerfelt (1984)
Rumelt (1984)
Barney (1986)
Seminal Base of the RBV
Barney (1991, 2001)
Barney (1991)
Capabilities that either help a firm to exploit opportunities to create value for customers or to neutralize threats in the environment
Capabilities that are possessed by few, if any, current or potential competitors
Capabilities that other firms cannot develop easily, usually due to unique historical conditions, causal ambiguity or social complexity
Capabilities that do not have strategic equivalents, such as firm-specific knowledge or trust-based relationships
Managing Resources
Some Resources Are More Flexible Resource Acquisition Is Critical for Inflexible Resources Managerial Bundling Actions with Flexible Resources
Are Critical to Competitive Success
Managing Resources (cont’d)
Dynamic Managerial Resources
Asset Orchestration
Asset Orchestration: Integrating Resource Investments with Resource Deployments (Strategy)
Firm Performance Suffers when Managers Resource Investment Decisions Vary from the Norms of Rivals
However, When the Resource Investments Support the Strategy Chosen, Deviation from Rivals Enhance Firm Performance
So, When Firms Enter New Markets, They Search for and Try to Achieve Legitimacy (Dowling & Pfeffer, 1975; Tolbert & Zucker, 1983)
One of the Most Profound Business Phenomena of the 20th Century Was the International Expansion of Business Activities (Sapienza, Autio, George & Zahra, 2006)
Arregle, Miller, Hitt and Beamish (2009)Found that Country and Region’s Institutional Environments Affect the Amount and Type of Foreign Direct Investments Made by Firms
Zhu, Hitt, Eden and Tihanyi (2009)Found that a Country’s Formal Institutions Affect the Performance of Cross-Border Acquisitions
Miller, Hitt, Webb, Batjargal and Tsui (2009)Found that a Country’s Formal Institutions Influence the Type of Social Networks Developed by Entrepreneurial Firms and the Extent to which they Achieve Growth
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