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271© Th e Editor(s) (if applicable) and Th e Author(s) 2016L. Gavinelli, Business Strategies and Competitiveness in Times of Crisis, DOI 10.1057/978-1-137-57810-5

A access

to fi nance , 100, 103, 230 to foreign markets , 40, 91

acquisition , 8, 17, 35, 39, 41, 66, 98–9, 113–14, 193, 203

actions, implementation , 6 actors , 18–19, 36, 99, 114, 127,

134–5, 137, 139 adaptability

to specifi c requirements , 142 and sustainability , 26

adaptation , 10, 13, 114 advice, collaborations , 204 after-sales services , 181 agency theories , 119 age of access , 47, 261 agglomeration economies , 130, 134 aggregate multidimensional

construct , 66

aggregation international , 151 and internationalization , 145, 151

agreements, for diversifi cation , 39 agreements with third parties, entry

into foreign markets , 192 Aldrich, H.E. , 96, 112 Alistair, R. , 93–4 alliances

and development , 221 tactical and strategic , 35

alternative funding , 107 analytical approaches, evolution of ,

15, 17 Anderson, F.H. , 93–4, 121 Ansoff , I. , 14 anti-crisis measures , 179 Asian manufacturing, global impact ,

170 asset structure, reconfi guration of , 63

Index

272 Index

assets, types of , 207 asymmetries

favorable , 51 in resources , 60

attitudes, and fi rm size , 94 attractiveness , 18–19, 51, 63, 103,

128, 178–9, 228

B bank credit , 100–2, 106, 205 bank debt , 100 bargaining power , 18–19, 27, 104,

145 Barney, J.B. , 15, 51, 55–60, 64 Barreto, I. , 65–6 barriers , 21–2, 58, 75, 100, 103,

112, 123, 128–9, 144, 195, 227, 229

Basel 3 , 100, 104, 150, 197 Basel Agreements , 150, 197 Becattini, G. , 130, 136 benefi ts, of clusters , 129 Bergamini, I. , 59 Bessant, J. , 69–70, 72, 74 book, overview and structure , 17 Boston Consulting Group , 14, 25 Bourgeois, L.J. , 8 branding , 119, 132, 146, 184, 187 Brianza model , 170 bundle of benefi ts , 30, 222–3 bureaucratic networks , 139–40 Burns, P. , 24, 43, 71, 73–5 business angels , 104, 106–7, 197, 199 business growth . See growth business models , 4–5, 54–5, 71–4,

116, 142, 144–5, 147, 219, 221, 225, 229

business planning, theoretical contributions , 14, 17

business sophistication , 149 business strategy , 3–4, 8, 13–14,

18, 50–2, 56, 59–60, 96, 123, 149

framework , 22–43 vs. scientifi c decision-making

techniques , 14

C capabilities

approach , 64, 67 dynamic , 22, 62–7, 113 and resources , 67

capitalism , 53–4, 209 Caroli, M. , 1, 23, 33–8, 40, 42 Ceccanti, G. , 10, 12 Cedrola, E. , 41–2, 129–130, 134–8,

142–5 Central Guarantee Fund (FCG,

Fondo Centrale di Garanzia) , 106

challenges, to SMEs , 83, 114, 147 change

and competitive advantage , 23 and innovation , 27

characteristics, of strategy , 5–7 classifi cation, of resources , 33 clusters , 30, 92, 126–42 cognitive approach, to leadership ,

112 cognitive proximity, agglomeration

economies , 134 collaborations

and competitive position , 34 for development , 35, 202–3

Index 273

entrepreneurship , 135 and expansion , 35 internationalization , 42, 134 motivations for , 204 multinational , 42 networks , 134, 180–1, 183,

200–3 propensity for , 202–3 research and development

(R&D) , 204 research fi ndings , 34, 204 small and large fi rms , 75 SMEs , 35

collective eff ort , 114 commercial activity , 148, 185, 214 commercial capacity , 63, 181 commercial competences , 145, 181 commercial contracts , 37 commercial structure, and

internationalization , 143 commitment to growth , 93 commodities, diff erentiation , 28 communication

for development , 91 digital , 188 receivers , 188

communication activities , 184 communication channels , 150,

215 communication strategies, and

marketing , 185–9 compensation mechanisms , 125,

226 competencies

commercial , 145, 181 core , 24, 35, 59, 61–2,

128–30, 145 distinctive , 61, 67

for leadership , 111–15 competition, and strategy , 2 competitive advantage

and attractiveness , 19, 178 context and overview , 22–42 and cost advantages , 30, 32 creating , 51 defence and maintenance , 22 defi ning , 59 and environment factors , 16 and expectations , 28 and fi rm’s capabilities , 60–7 importance of innovation , 69–75 and industry environment , 51 internal perspective , 52 and knowledge of market , 61 relationship between resources

and competitive advantage , 58 as relative position , 23 and resources , 52 and resource scarcity , 50 resources of the fi rm , 52 sources , 49–75 and stock market performance , 51 and super-natural returns , 51 sustained , 55–6, 60 theoretical contributions , 50–2 variability , 63

competitive contexts , 18, 22–42, 62, 75, 126, 148–9

competitive edge , 11, 14, 18, 22–3, 34, 43, 59, 63, 68, 95, 109, 134, 177, 181, 195, 208, 213, 218, 220

competitive environment and development , 23 understanding of , 5

competitive forces approach , 67

274 Index

competitiveness challenges and drivers , 149–51 challenges to , 219–27 and credit , 150 and fi rm size , 74, 92–100,

109–11 in global context , 148–9 and internationalization , 39–42,

181 limiting factors , 26, 149 strengths , 142–3 sustainability , 68

competitive position, and collaborations , 34

competitive strategy , 8, 19, 214 competitors, diff erentiation from , 15 complementary assets , 63 complexity

and diversifi cation , 15 of entry modes , 215 SMEs , 215

connections, strategic and economic sectors or industries , 38

consumer preferences , 29 consumption experience , 31 continuity, family fi rms , 116, 120 contractual arrangements , 201–2 contractual aspects, of transactions ,

31 cooperation . See also networks

boosting , 61 types of , 200

coordination agglomeration economies , 134 boosting , 61 elements of , 6 process , 10, 63, 224 role of strategy , 11

and strategy , 10 core competences , 24, 35, 59, 61–2,

130 corporate governance, and ownership

structure , 115–21 corporate strategy , 7–8, 18, 38, 50 cost advantages

and competitive advantage , 25–8 fragility , 32

cost analysis, implementation , 27 cost effi ciency , 25–8, 92, 143 cost minimisation , 37 cost reduction , 25–7 costs and benefi ts analysis , 14 costs, of diff erentiation , 25 costs of production , 26, 38 creative destruction , 53–4 creativity , 9, 12, 70–1, 73–4, 170,

225 credit

access to , 92, 100, 149–50, 171, 174, 184, 195–200, 215–17

and competitiveness , 196–200 for development , 150 diffi culties in obtaining , 199 reasons for applying for , 196

credit institutions , 100, 104, 106, 150, 199, 216, 231

crisis culture , 150 critical success factors , 13, 18, 23,

49, 52 customers

choices , 21 long-term relationships with , 31,

181 orientation , 142, 183, 214 perceptions of diff erentiation , 223 relations , 42, 60, 187, 214, 219

Index 275

D data on SMEs and on large

enterprises in the EU28 in 2013 , 85

debt moratoria , 106 decision making

entrepreneurial , 3 individual cognitive decision

processes , 93 role of strategy , 9 situation of , 9 tree , 12

decreasing survival rates , 122 degree of intensity , 38 delays , 105, 228 Dell, pre and post sales service , 30 De Man, A.P. , 138–9, 142 demand , 14, 18, 20–1, 23, 28–30,

34, 39, 49, 53, 62, 74, 90–1, 93, 100, 104, 107, 109, 129, 133, 138, 142, 144–5, 150, 178, 183, 189–91, 195, 220–4, 228

demand management techniques , 14

demand profi ling , 29 demand side diff erentiation , 30 demand-side perspective , 100, 107 Department of Trade and Industry

UK Report (2001) , 60 descriptive models, of growth , 95,

172 design, of products , 26, 32, 133 determinants of profi tability , 14 deterministic approach, to

growth , 96 development . See also research study

access to credit , 92, 215–16

challenges to competitiveness , 92, 219–27

collaborations , 71, 216 communication , 91, 214–15 context and overview , 97 delays , 104–5 diff erentiation , 30 generational succession , 218–19,

225–7 human resources , 8, 222–5 innovation , 74, 216–17 internationalization , 215, 230 intervention areas , 218 marketing , 32 networks , 216 research for , 129, 216–17 role of government , 104–8 role of institutions , 213, 227–31 succession planning , 124

Diéguez-Soto, J. , 116, 118 diff erence between strategy and

business models , 4–5 diff erentiation

advantage of , 25, 31, 33, 52, 222 analysis of opportunities , 222 benefi ts of , 28–33 commodities , 28 from competitors , 28 costs of , 28 customer perceptions , 33 demand side , 28–9 and development , 30 generalized vs. focused , 30 supply side , 30 and sustainability , 31 sustainability of advantage , 56

diff erentiation advantage , 25, 31, 33, 52, 222

276 Index

diff erentiation potential, identifi cation scheme , 29

digital communication , 188 Di Gregorio, A. , 10–12, 39, 41 direct investments

entry into foreign markets , 147, 151, 182

and relationship with territory , 143 transactional benefi ts , 42

direct sales, entry into foreign markets , 191

discounted cash fl ow method , 14 disruptive innovation , 73 distinctive competencies , 61, 67 distribution, and logistics , 146 distribution channels , 22, 71,

179, 185–6 distribution contracts , 37 distribution of employees among

Italian fi rms and sectors , 86 districts , 89, 130–34, 136–8, 144,

146, 148, 201, 221, 228 diversifi cation

and complexity , 39 geographical diversifi cation , 39 motivations for , 38–9

diversifi cation of the off er , 8 domestic fi nancial sources , 108 DpO theory , 10–11 Drucker, P. , 3, 70 Dunning, J.H. , 42 durability , 30, 68 dynamic capabilities

creation and development mechanisms , 66

defi ning , 64–5 dimensions , 67 environment factors , 19 heterogeneity , 65–6

and leadership , 113 strategy and competitive

advantage , 23–4, 62–7 theoretical contributions , 13–16

dynamic effi ciency , 28 dynamism , 53, 75

E economic and fi nancial crisis, market

reactions , 142–51 economies of experience , 14 economies of scope , 39, 208 Edison, Th omas , 71 effi ciency

and competitive advantage , 26 cost effi ciency , 25–8, 92, 143 dynamic , 28

Eisenhardt, K.M. , 65–7 elements of diff erentiation , 15 employees, professional

qualifi cations , 206 employment generation policy , 227 endogenous perspective , 136 energy effi ciency , 150, 217 energy issues , 73 enterprise, nature of , 89 entrepreneurial behavior, and fi rm

size , 111–12 entrepreneurial decisions , 3 entrepreneurial leadership , 111–15,

125, 151, 208–10 entrepreneurial orientation , 115, 121 entrepreneurs

characteristics , 108, 112 role and responsibilities , 108,

137 entry modes

foreign markets , 41

Index 277

increasing complexity , 144 environmental safeguarding , 150 environment factors

and competitive advantage , 16, 60–7

dynamic capabilities , 62–7 micro and macro , 16

European Recovery Program , 90 evolutionary approach, to growth , 96 evolutionary paths , 63–4 evolution, family fi rms , 120 evolution of analytical

approaches , 17 ex ante approach , 11 excess capacity , 38 exogenous perspective , 136 exogenous risk factors for

competitiveness , 179 expansion, and collaboration , 35 expectations

and competitive advantage , 51 customers , 28

experience curve , 25–6 experiential marketing , 31, 224 expertise , 6, 34, 36, 59, 90, 106,

124, 137, 146, 189, 223 explicit approach , 11 exports , 41, 132, 144–5, 147, 170,

192, 221 external environment

family fi rms , 122 and fi rm success , 114

external fi nancial sources , 108 external sources of profi t , 14

F family fi rms

characteristics , 115–16

compensation mechanisms , 125 continuity , 116 as dominant among SMEs ,

209 evolution , 121 external environment , 122 family governance , 121, 129 life cycles , 120–1 policies , 117, 121 preparation and development of

heirs , 124 relationships between generations ,

124 succession , 111, 120–6

family-run businesses , 208 feedback loops , 23 Feldman, M.S. , 114 Finance

access to , 100, 103, 149, 230 alternative sources , 105–9

fi nance 2007-2013 , 105 fi nancial and economic crisis ,

19, 148 fi nancial assets , 63, 149 fi nancial capacity , 42, 92, 100–9,

145, 148, 183, 199, 219, 231 fi nancial intangibles , 59 fi nancial structure of Italy ,

103–6 fi nancial tools , 197 fi nancing SMEs in Italy , 104–6 Fiocca, R. , 138, 224 fi rms

evolutionary paths , 63–4 external environment , 12 family and managerial , 111–26 questions for , 28 size and innovation , 109–11 and territory , 134–8

278 Index

fi rm’s capabilities, and competitive advantage , 60–7

fi rm size and attitudes , 94 and competitiveness , 92–100 and entrepreneurial

behavior , 94, 111–12 and innovation , 74–5, 109–11 SMEs , 87, 91–2, 109–11

fi ve forces model , 19–21, 55 fi ve Ps , 6–7 fl exibility

to customer requirements , 172, 181, 185

of SMEs , 107, 109, 114, 128, 142, 150

fl exible responses , 53 focalization , 13, 15, 25, 33–4 focused diff erentiation , 30 footwear sector , 37 foreign language learning , 145,

217 foreign markets

access to , 40, 91 advantages , 193–5 areas , 145–7 challenges , 145–8 diffi culties , 193–5 multinational collaboration , 42

foreign turnover , 182–3, 190–2 fragmentation, Italian production

system , 87 framework for developing strategy ,

23–4 franchising , 37, 99, 140,

192, 202 free-market economic thought , 53 functional strategy , 8

G Game Th eory , 7, 16 generalized diff erentiation , 30 generational change , 151, 208, 210,

218, 225–6 generational succession , 111, 133,

149, 171, 174, 208–11, 218–19, 225–7

geographical contexts , 21, 40, 88 geographical diversifi cation , 39,

142 geographic proximity, to resources ,

27, 136 Ghemawat, P. , 23, 51 Gibrat, R. , 95 global competition, eff ects of , 109 global competitive context , 148–9 Global Economic Forum , 149 globalization

eff ects of , 143 and SMEs , 131, 134, 137, 142–3

goal setting , 12 goals, of strategy , 4 good practice , 24 governance

family governance , 120–1, 226 generational succession , 226 and ownership structure , 89,

115–21 government aid , 104–6 government, developmental role , 105 Grandori, A. , 138–9 Grant, R.M. , 2–4, 8–10, 13, 17, 19,

22, 25, 28–9, 32–3, 50–6, 58, 60–1, 68–9, 71, 94

green approach , 171, 217–18 growth

by acquisition , 99

Index 279

collective eff ort , 114 drivers , 94, 191 fi nancial constraints , 93 human factors , 93 hybrid mode , 99 life cycles , 126 organic , 99 as outcome , 97–8, 115 as process , 94–5, 220 research streams , 98 SMEs , 92, 104, 111 and survival , 148, 150 theoretical approaches , 95, 99 theoretical discussion , 94

Gupta, V. , 114

H Håkansson, H. , 135, 137–8 Hamel, G. , 9–10, 35, 43, 61–2 heterogeneity

resources , 57 SMEs , 95

history of Italian SMEs , 90–1 Hofer, C. , 52, 56 horizontal cooperation , 34 horizontal diversifi cation , 38 Hrebiniak, L.G. , 61 human capital, and leadership ,

60, 112 human capital resources , 59 human resources

development , 217 expertise , 59 internationalization , 145 investments in , 207

Human, S.E. , 138 hybrid mode, of growth , 99

I immobility, of resources , 69 impact of the current economic and

fi nancial crisis , 175 impact of the current economic and

fi nancial crisis on sectors , 175 imperfectly imitable resources , 57,

60 implementation of the off er , 223–4 incremental innovation , 70, 72, 74,

214 indirect investments , 41, 192–3 individual cognitive decision

processes , 93 industrial clusters , 92, 126–42 industrial conversion of plants , 39 industrial districts

current situation and trends , 131–3

distinguishing factors , 132 enterprises , 132 and exports , 147 role in economy , 132

Industrial Network approach , 137 industries, life cycles , 36 industry

defi ning , 16 external change factors , 67

industry analysis , 13, 18 industry environment, and

competitive advantage , 96 industry structure

and attractiveness , 18–21 and profi tability , 18–21 and strategy , 18–21

informal networks , 201–2, 216 information systems , 53, 59, 72, 94,

107, 110, 143–4

280 Index

innovation capacity for , 136, 149 as changeable , 53 classifi cation , 70, 72 in clusters , 128–9 context dependency , 73 defi ning , 70 for development , 204 dimensions , 59 disruptive , 53, 73 and fi rm size , 74–5, 109–11 importance of , 50, 69–75 incremental , 55, 70, 72,

74, 214 and internal change , 53 investments in , 205–6 knowledge-based approach , 109 radical/discontinuous , 70, 73–4 research fi ndings , 205–6 strategies , 91, 110–11 as threat , 54 time dependency , 73 and turnover , 110, 205–6 types of , 54, 110

innovation seeking , 147 innovative behavior , 75 institutional assets , 64 institutional systems , 103, 228 institutions, developmental role ,

227–31 intangible assets, and profi t

advantage , 59 intangible components, of

product , 30, 222 intangible resources

importance , 59–60 types of , 51

intangibles, investments in , 222–5

Integrated Area Development (IAD) model , 136

interdependency agglomeration economies , 130 strategy and business models , 4–5

interest rates , 105–6, 197, 199 intergenerational relationships , 124 internal change , 53 internal sources of profi tability , 15 internationalization

advantages , 193–4 aggregation , 151 collaborations , 134 and commercial structure , 143, 145 and competitiveness , 39–42,

151, 181 for development , 215 diffi culties , 193, 203 human resources , 145 information systems , 110 management of , 221 and product innovation , 181 propensity for , 146, 190–3 reasons for , 178 strengths of SMEs , 149 weaknesses of SMEs , 75, 143–8

international strategies, emerging trends , 146–7

internet, eff ects on market , 73 intervention areas, for development ,

218 intuitive aspects, of strategy , 12 invention , 70–1, 73–4 investments

for competitiveness , 177–83 human resources , 174, 207, 211,

222–5 in intangibles , 222–5

Index 281

research and innovation , 101, 174, 207–8, 213

Italian enterprises distributed among production sectors , 86

Italian production system , 87, 91, 148 Italian school of industrial districts , 138 Italian SMEs and their fi nance in the

period 2007-2013 , 107–8 Italy

bank debt , 105 country ranking , 149 fi nancial structure , 105–6

J joint ventures , 7, 15, 35, 39, 41, 99,

140, 192–3, 202, 216

K Kanter, R.M. , 71 Karaev, A. , 127–31 Kay, L. , 51 knowledge acquisition , 66, 113, 203 knowledge, and leadership , 60 knowledge-based approach , 109 knowledge of the market , 146 knowledge strategy , 111 Koryak, O. , 111–13

L labor cost per employee by fi rm size , 87 labor costs , 27, 32, 40, 87, 109,

144–5, 190–1 labor market conditions , 27 labor productivity , 87–8, 107, 227 labour market ineffi ciency , 149

lateral cooperation , 34 leadership

and dynamic capabilities , 113 identifying opportunities , 5 knowledge , 60 motivation , 38 psychological aspects , 112 role of leader , 111 theoretical approaches , 95

learning impact of , 14 as social and collective process , 63

learning orientation , 115 learning perspective , 96 Learning Regions , 136 Leblein, M.J. , 58, 60 Lee, K. , 94, 122 legal systems , 105 Leibenstein, H. , 27 levels of strategy and organizational

structure of the enterprise , 8 Lewis, G.P. , 3–5 Licensing , 41, 99, 140, 192, 202 life cycles

business growth , 126 family fi rms , 111 of industries , 36

Likert scale , 174, 176, 180, 184, 199

limited strategic intent , 144 linear programming , 14 liquidity constraints , 100–1 Loans Fund (CDP, Cassa Depositi e

Prestiti) , 106 loans rejection rate , 105 local sales, entry into foreign

markets , 192 logistics , 146–7

282 Index

long-term relationships, with customers , 31, 181

Lönnqvist, A. , 59 López-Delgado, P. , 116, 118

M macroeconomic environment , 149 Made in Italy eff ect , 177, 194, 214 Malmberg, A. , 134 management training , 217 managerial fi rms , 92, 111–23 managerial practices, and

performance , 58 managerial skills, and

development , 221 manufacturing sector, global

importance , 171 market

defi ning , 2, 7–8, 21 knowledge of , 146

market analysis , 16–22 market environment , 220 marketing

and communication strategies , 171, 185–9, 211

for development , 8, 32, 37 marketing activities , 30, 148, 222 marketing communication , 146,

187–9, 223 marketing innovation , 110 marketing planning , 224 marketing skills , 60, 63, 145–6, 183 marketing strategies , 2, 145, 150,

183 marketing strategy, defi ning , 2 market-oriented approach , 220–2 market perspective , 21–2

market reactions, to crises , 75, 83, 148–51

market share, impact of , 14 market size , 149 markets, perfect/imperfect , 16 Martin, J.A. , 59, 65–7, 123 McKelvie, A. , 97–100 mechanisms of isolation , 22 Mellor, R.B. , 71, 73 methods used , 171–2 micro-enterprises , 84–8, 131–2, 214 micro, small and medium

enterprises . See SMEs Milieux Innovateur , 136 Mintzberg, H. , 6–7, 10 mission, family fi rms , 120 Monza and Brianza

industrial model , 172–3 overview of area , 171

Monza and Brianza Observatory , 180 Morgan, G. , 114 Morgenstern, O. , 7, 16 Morris, M.H. , 72, 94, 122, 124 motivation, of leadership , 59, 71 Moulaert, F. , 136 multiform agents , 181, 186 multilevel perspective , 136 multilevel strand , 137 multinational collaboration , 42

N Nash equilibrium , 16 national clusters , 127 national market , 181, 185 Network Approach , 137–8 network contracts , 140–1, 150,

201–2, 216, 229

Index 283

networks . See also trade associations advantages , 139–40, 200, 203 for development , 133, 192,

200–2 diffi culties , 200, 203 informal , 139, 201–2, 219 research fi ndings , 127, 129, 133 types of , 135, 200

New Industrial Space (NIS) , 136 new markets , 32, 35, 39, 53, 72, 74,

99, 135, 147, 181, 220 new value , 72 niche markets , 33, 133, 220 non-fi nancial business sectors , 84–5 non-substitutable resources , 60 novelty , 69–72

O Observatory of Unioncamere , 133 OECD Scoreboard , 106 off er , 21, 31, 33–4, 54, 57, 75,

103, 134, 137, 144, 220, 223–4, 230

off er diversifi cation , 8 off ers, setting , 28–9 off shoring , 229 Ohmae, K. , 3, 28, 50 oil crises , 14 opportunities

exploiting , 74 identifying , 5

optimism , 108, 176, 197 organic growth , 99 organizational capital resources , 59 organizational change

innovation , 27 and internationalization , 221

as response to technological innovation , 27

organizational innovation , 15, 17, 27, 108, 136, 219

organizational processes , 56, 63 organizational routines , 61, 63, 69 organizational structure, and

development , 221 orientation to the product , 142 Ortoclick , 54 outsourcing , 17, 25, 28, 37, 89, 205 overcapacity , 39, 129 owner-managers, characteristics ,

112 ownership, and corporate

governance , 115–21 ownership concentration, and

performance , 117

P partnerships , 35, 177, 180,

202, 228 path dependence, and

performance , 58 path dependency theory , 64 Patternson, F. , 70–1 pattern, strategy as , 6–7 Penrose, E. , 94, 96, 98, 113 Pentland, B.T. , 114 performance

impact of business strategy , 14 and resources , 52

perspectives of strategy , 6–7 pessimism , 176 physical proximity

agglomeration economies , 134 in clusters , 128, 138

284 Index

Pisano, G. , 62, 64 plan

strategy as , 6 and structure , 10–12

ploy, strategy as , 6–7 Porter, M. , 3, 5, 14–15, 19–21, 51,

55, 67, 69–70, 127 Porter’s fi ve forces model , 19–21, 55 positioning , 14–15, 17–18, 20,

28–9, 50, 63, 150, 194, 216, 221, 228

position, strategy as , 7 post-war boom , 13 Poutziouris, P. , 119, 121, 126 Power, D. , 134 Prahalad, C.K. , 1, 9–10, 43, 61–2 pre and post sales service , 30 preparation and development of

heirs , 124 price competition , 178 price leverage , 25, 29, 178 principle of substitutability , 21 private equity , 106–7, 197, 199, 229 process innovation , 110, 182–3, 204 procurement costs , 27, 32 product

intangible components , 30, 222 tangible components , 30–1, 222

product design , 26, 32, 223 product innovation , 50, 69, 74, 110,

181–3, 214, 216–17 production capacity , 26, 35, 37, 91,

149–150, 215 production chains , 36, 72, 229 production costs , 25–6, 32, 35, 110,

129, 144, 194 product-oriented approach , 150, 177 products, of clusters , 127 product specialization , 89, 92, 142, 146

professional qualifi cations , 205 profi tability , 14–15, 18–22, 34, 39,

41, 50, 52–3, 56, 60, 68, 96, 118, 228

profi t advantage, and intangible assets , 58

promotion of off er , 184, 224 proprietary networks , 140 Provan, K.G. , 138 proximity, agglomeration

economies , 134 psychological aspects, of leadership ,

112–13

R rare resources , 56 rational aspects, of strategy , 12 reactiveness, to market , 62 recessions , 93, 104–5, 227 reconfi guration, of asset structure , 63 regional diff erences, SMEs , 134 Regional Innovation System (RIS) ,

136 regions, network contracts , 140–1 relational proximity , 136 relations between enterprises and

people , 89 relationship between resources and

competitive advantage , 58–9 relationship between the concepts

business model and strategy , 5 relationships, long-term , 31, 181, 231 rents, maximizing , 60 replicability , 68–9 reputational assets , 63 research

for development , 8, 32, 133, 170, 198, 204, 223

Index 285

research and development (R&D)

collaborations , 133, 200 fi nancing , 8 investments in , 173

research centres, development role , 116, 229

researchgoal , 118 research methods , 53, 97, 147 research study . See also

development access to credit , 174, 211 advantages of internationalization ,

193–4 advantages of participating in

collaborative networks , 203 anti-crisis measures , 179 association between fl exibility to

customer and internationalization , 182

association between foreign sales and internationalization , 182

association between off er description and quality improvement , 184

capacity for recovery from crisis , 176–7

collaborations , 34–5, 169, 174, 204, 217

commercial capacity , 63, 181 communication tools used by

respondents , 189 competitiveness factors , 20, 107,

177–9, 213 context and overview , 94, 147,

149, 228 credit conditions in the opinion

of respondents , 196 data analysis , 97, 170, 205

data on respondents , 148, 204–6, 214, 216

data on the survey , 172 diffi culties encountered on foreign

markets , 186, 189, 195 diffi culties in trade activity ,

185–7 diffi culties of internationalization ,

42, 129, 211 diffi culties of respondents in

accessing credit , 197 distribution channels on foreign

markets , 186 distribution channels on national

markets , 185 distribution of foreign turnover

among markets , 192 empirical evidence , 174–211 entry modes , 41, 99, 144, 146–8,

151, 169, 189–95, 215, 222 exogenous risk factors for

competitiveness , 179 family businesses in the four

editions of the survey , 207 fi nancial instruments used by

respondents , 197 human resources enhancement ,

206–8 impact of investments in human

resources on competitiveness , 207

impact of investments in innovation on turnover , 205–6

impact of the current economic and fi nancial crisis , 175, 211

impact of the current economic and fi nancial crisis on sectors , 175

286 Index

innovation , 105, 149, 151, 176, 207–8, 213, 219–19

international direct entry modes , 193

internationalization process , 42, 129, 144–5, 149, 183, 189–96, 211, 221

investments for competitiveness , 105, 172, 176, 207–8, 213

investments in research and innovation , 105, 176, 207–8, 213

methods used , 53, 97, 147 networking at local, national, and

international level , 201 networks , 99, 129, 211 objectives , 205 propensity for

internationalization , 146, 190–3

reasons to internationalize , 190–1 receivers of marketing

communication , 189 relations between variables , 36 respondent enterprises , 172–3,

207, 216 response scales , 42, 204 statistical analyses , 133 technological development , 91,

200, 204 types of staff training , 207

reshoring , 229 residual effi ciency , 26–7 resource allocation , 12, 112 Resource-Base (Based) View (RBV)

theory , 15, 56, 58–9, 64, 96 resource endowments , 57–8, 137

resources assessment of , 6 asymmetries , 60 and capabilities , 12, 56, 61, 68–9 classifi cation , 66 of clusters , 127, 129 and competitive advantage , 58, 60 geographic proximity , 27, 136 heterogeneity , 57–8, 127 human capital , 59 immobility , 57, 69 intangible , 51, 59–60, 129, 171,

174, 204, 219, 222–5 organizational capital , 59 and performance , 52 relationship between resources

and competitive advantage , 58 sharing , 16, 99, 135 uncertain imitability , 69 utilization , 26, 70

Rifkin, J. , 31 risks

distribution of , 92 and diversifi cation , 39 niche markets , 33 of scale economies , 26, 92 sharing , 35, 99

risk-taking , 3, 115–16 role of leader , 111 routines , 25, 61–7, 69, 93, 98,

113–14 Rumelt, R.P. , 7, 15, 50–1, 55–6, 58, 60

S Sarbah, A. , 117, 120, 126, 226 Scale economies , 25–6, 35, 92 scarcity of resources , 50

research study (cont.)

Index 287

scheme to identify the diff erentiation potential , 29

Schendel, D. , 52, 56 Schmalensee, R. , 52 Schumpeter, J. , 53–4, 72–3 scientifi c decision-making

techniques , 14 Scott, A. , 136 Scott, J. , 265 sectoral analysis , 150 Seddon, P.B. , 3–5 segmentation, of demand , 28, 30 Sekia, F. , 136 service, pre and post sales , 30, 142 service sector, growth , 89 services marketing , 31 setting of the off er , 28 Shuen, A. , 62 Simpson, M. , 111–12, 114 Single European Market , 21 Sinkula, J.M. , 115 Smallbone, D. , 95, 97, 220, 227 Small Business Act for Europe , 229 SMEs

classifi cation , 84 complexity and heterogeneity , 95 context and overview , 75, 169 economic sectors , 85 as employers , 84 in Europe , 171, 230 family-run businesses , 89, 92,

111–26 fi nance 2007-2013 , 105 fi nancial capacity , 42, 92, 100,

104, 109, 145, 148, 199, 231 fi rm size , 91–2, 111, 148, 199 geographical contexts , 88 governance , 89

growth , 92, 104, 111 history of , 90–91 innovation , 89, 91, 104, 109–10,

142, 227 internationalization , 92, 134,

142–4, 148, 171, 183, 194, 221, 230

in Italy , 75, 83, 85, 88, 90–1, 103–4, 115, 122, 144, 169–211, 213

labor costs , 144–5 labor productivity , 227 peculiarities , 91–2, 94, 100, 111,

142, 222 performance , 84–92, 103, 114,

148, 230 product specialization , 89, 92, 142 regional diff erences , 134 relations between enterprises and

people , 89 value added , 85, 170 work force , 134

Snehota, I. , 137–8 Snow, C.C. , 61 social networks , 139–40, 189, 215 Soda, G. , 139–40 sovereign debt , 104 space, and interaction , 135 specialization

and business recovery , 228 in clusters , 128 on market segments , 25 scale economies , 26, 150

staff training , 179, 183, 200, 204, 207, 217

stage models, of growth , 95 stewardship theories , 118 Stigliani, I. , 95–7

288 Index

stochastic models, of growth , 95 stock market performance, and

competitive advantage , 51 Storper, M. , 136 strategic alliances , 15, 17, 19, 35, 52,

83, 92, 99, 131, 201–2, 216 strategic analysis

defi ning , 13 function of , 10 role and functions , 9–13, 149 starting point , 24, 73

strategic assets , 63, 128, 130, 149, 151, 226, 228

strategic decisions ability to implement , 1–2 studies from the 1950s to today ,

13–15 theoretical contributions , 13–16

strategic intent, developing , 42–3 strategic networks , 126–42 strategic planning

defi ning , 3 feedback loops , 23 resource allocation , 12

strategic planning and the importance of coordination , 10–12

strategic planning process , 24 strategy

aspects of , 4, 12 characteristics , 5–7 defi ning , 2, 50 evolution and development , 17, 35

strategy formulation , 6, 9, 24, 68 roles of , 9–13

strategy development framework , 22–43

strategy of optimization , 180 structural assets , 64 structural crisis, responses to , 39 structure, and plan , 12 structure-conduct-performance

paradigm , 55 subsidiaries , 41–2, 54, 91, 192 substitutability , 21 success

critical factors , 4 enhancing chance of , 223 factors in , 13, 18, 23, 49, 52, 89

succession dilemmas , 121 succession, family fi rms , 120–1 succession planning , 121–4, 210,

218, 226 Sun Tzu , 2–3 super-natural returns, and

competitive advantage , 51 supply contracts, medium to long

term , 37 supply of fi nance perspective , 100 supply side diff erentiation , 30 survival, decreasing rates of , 121 sustainability

and adaptability , 12, 26 advantage of diff erentiation ,

28–33 of competitiveness , 68 and ways of thinking , 73

sustained competitive advantage , 55–6, 68

T tacit knowledge , 25, 59, 61, 66, 69,

128–9, 201 tactical alliances , 35

Index 289

tactics, as distinct from strategy , 2 tangible components, of product ,

30–1 target audiences, identifi cation , 223 targeting , 29–30 tax burden , 144, 149, 178 technological assets , 228 technological development , 91, 200,

204 technological innovation , 27, 49, 52,

129, 131, 149, 228 technological readiness , 149 technology

and cost effi ciency , 26 for development , 32, 223 and organizational change , 27 training , 228, 231

Teece, D.J. , 56, 58, 60, 62–7 territorial heterogeneity , 127 territory , 107, 125, 133–8, 143, 146,

170, 172–3, 179 Th e Art of War , 2–3 theoretical approaches

fi rms and territory , 95 to growth , 95

Th eory of Games and Economic Behavior , 16

Th ink Small First principle , 230 third party agreements , 42 Tidd, J. , 69–70, 72, 74 Tirole, Jean , 16 TNT Post Italia , 54 trade activities, diffi culties , 186–7 trade associations , 231 . See also

networks training methods , 59, 112, 124, 127,

151, 179, 183, 200, 204, 206–8, 217, 225–6, 228–9, 231

transactions, contractual aspects , 31 transferability , 68 transition, from incremental

effi ciency to reorganization , 25 transparency , 68 Treaty of Rome , 90 tree of decisions , 12 trust

agglomeration economies , 134 in clusters , 60, 129

turnover , 84, 102, 110, 151, 170, 172–3, 176, 182–4, 190–3, 205–6, 225, 227

U uncertain imitability , 69 uncertainty, and succession , 121, 123 Unioncamere , 131–3, 140–1, 147 uniqueness , 30, 222 unit costs, determination , 25, 27 universities, development role , 204–5 upstream diversifi cation , 38 urban areas, SMEs , 88

V valuable resources , 50, 56–7, 60 value added , 85–9, 132, 170–1 value chain(s)

analysis , 33 innovation , 54 and vertical integration , 37–8

value creation , 15, 17, 35, 72 Varaldo, R. , 111, 135–6, 222–32 variables, relations between , 36 venture capital , 104–5, 107–9, 146,

199, 201

290 Index

vertical cooperation , 34 vertical integration , 8, 36–8,

202, 216 vision , 1, 4, 9, 11, 23–4, 43, 59,

69, 108, 112–13, 118–19, 121, 124–5

Volpato, R. , 36 Von Neumann, J. , 7, 16

W Wang, Y. , 121–4 Wiklund, J. , 93, 97–100, 113 willingness to grow , 173

Wolff , J.A. , 115 work force , 134 World Wide Web, eff ects on

market , 73 Wright, M. , 93–5, 106–7, 227

X Xiao, W. , 117, 120, 126, 226

Z Zahra, S.A. , 65–6, 99, 113–14, 171 Zambon, S. , 59