Chapter 10 Over Coming Liability of Foreigness
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| liability of foreignness | inherent disadvantage foreign firms experience in host countries because of their innovative status
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| resource based view | argues that foreign firms need to deploy overwhelming resources & capabilities to affect the liability of foreignness
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| location specific advantages | benefits a firm reaps from the features specific to a place- geography
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| agglomeration | location specific advantages that arise from the clustering of economic activities in certain locations
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| natural resource making location specific advantages | possession of natural resources & related transport & communication infrastructure
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| natural resource making examples | oil in the middle east, Russia, and Venezuela
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| market seeking location specific advantages | abundance of strong market demand and customers willing to pay
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| market seeking examples | GM in China
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| efficiency seeking | economies of scale and abundance of low cost factors
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| efficiency seeking examples | IT in silicon Valley and Bangalore Telecom in Dulles aerospace Russia
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| first mover advantage definition | benefits that occur to firms that enter the market first and that later entrants do not enjoy
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| late mover advantage definition | benefits that accrue to firms that enter the market later and that early entrants do not enjoy
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| first mover advantages | proprietary technological leadership
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| first mover advantages | pre-emption of scarce resources
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| first mover advantages | AVOIDANCE OF CLASH WITH DOMINANT firms at home
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| first mover advantages | relationships with key stakeholders such as governments
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| proprietary technological examples | Apples IPOD, IPAD, IPHONE
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| pre-emption of scarce resources examples | Japanese MNE's in South Asia
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| establishment of entry barriers for late examples | Polands F-16 fighter jet contract
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| avoidance of clash with dominant firms at home | Sony, Honda go to the US market ahead of their Japanese rivals
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| relationships with key stakeholders such as governments | Citigroup, JP Morgan Chase and metallurgical corp of China enter Afghanistan
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| later mover advantages | opportunity to free ride on 1st mover investments
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| opportunity to free ride on first mover investments | Ericson won big contracts in Saudi Arabia free riding on Coscos efforts
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| late mover advantages | resolution of technological and market uncertainty
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| resolution of technological and market uncertainty examples | GM and Toyota have patience to wait until Nissan leaf resolves uncertainties about the electric car
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| later mover advantages | first movers difficulty to adapt to market changes
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| first movers difficulty to adapt to market changes examples | greyhound is stuck with the bus depots where as Megabus uses curbside stops
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| scale of entry | amount of resources committed to entering a foreign market
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| modes of entry | method used to enter a foreign market
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