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ANATOMY OF A FINANCIAL CENTER'S GLOBAL COMPETITIVENESS IN THE CONTEXT OF MICHAEL PORTER'S MODEL OF NATIONAL COMPETITIVE ADVANTAGE: A THEORETICAL ANALYSIS
Title
ANATOMY OF A FINANCIAL CENTER'S GLOBAL COMPETITIVENESS IN THE CONTEXT OF MICHAEL PORTER'S MODEL OF NATIONAL COMPETITIVE ADVANTAGE: A THEORETICAL ANALYSIS.
Creator
Magpantay, Josef, Ajayi, Richard, University of Central Florida
Abstract / Description
Throughout history, a number of financial centers have risen and fallen. While the significance of some centers have deteriorated, a small number of centers have emerged as today's leading financial centers by meeting a specific set of necessary conditions needed to successfully address the growing financial needs of the regions they are located. Furthermore, an even smaller number of financial centers have been able to sustain and expand their initial dominance in the financial industry by...
Show moreThroughout history, a number of financial centers have risen and fallen. While the significance of some centers have deteriorated, a small number of centers have emerged as today's leading financial centers by meeting a specific set of necessary conditions needed to successfully address the growing financial needs of the regions they are located. Furthermore, an even smaller number of financial centers have been able to sustain and expand their initial dominance in the financial industry by continuously satisfying a more focused set of conditions and factors. This thesis focuses on adapting Michael Porter's Diamond Model in determining, clustering, and expanding key factors that have historically given cities such as London, New York, Hong Kong, Singapore, and Tokyo their current status at the pinnacle of the financial centers of the world. This thesis begins by taking Porter's model that addresses national competitive advantage nations from a macroeconomic point of view, and adapting it to the development of financial centers at a microeconomic level. It utilizes Michael Porter's established grouping corners for identifying a vast array of macroeconomic and microeconomic factors that have historically played critical roles in increasing productivity and efficiency within a center's financial industry. Additionally, this thesis categorizes these factors into parameters that form a theoretical model designed to showcase the path to global financial dominance for an aspiring financial center. With the adaptation of Porter's model outlined in this thesis, financial centers are given a figurative blueprint of what constitutes a successful financial center. The theoretical model analyzes the necessary conditions and environments that a center needs to recreate within itself, or are endowed with, in order to be a globally competitive financial center.
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Date Issued
2011
Identifier
CFH0004062, ucf:44806
Format
Document (PDF)
PURL
http://purl.flvc.org/ucf/fd/CFH0004062
ACCOMPLISHMENT OF DUAL FOCUS IN EXPLORATION AND EXPLOITATION: THE INFLUENTIAL ROLE OF THE CUSTOMER RELATIONSHIP MANAGEMENT (CRM) PROCESS
Title
ACCOMPLISHMENT OF DUAL FOCUS IN EXPLORATION AND EXPLOITATION: THE INFLUENTIAL ROLE OF THE CUSTOMER RELATIONSHIP MANAGEMENT (CRM) PROCESS.
Creator
Tinoco, Janet, Ganesh, Jai, University of Central Florida
Abstract / Description
Organizations that can successfully develop both radical and incremental innovations positively impact sustained competitive advantage, dramatically improving their chances of survival and success in both dynamic and stable environments (Han et al. 2001; Tushman and O'Reilly 1996). Experimentation and radical innovation are mandatory knowledge assets for competitive play in emerging markets, but efficiency and incremental innovation are essential for mature markets (He and Wong 2004;...
Show moreOrganizations that can successfully develop both radical and incremental innovations positively impact sustained competitive advantage, dramatically improving their chances of survival and success in both dynamic and stable environments (Han et al. 2001; Tushman and O'Reilly 1996). Experimentation and radical innovation are mandatory knowledge assets for competitive play in emerging markets, but efficiency and incremental innovation are essential for mature markets (He and Wong 2004; Tushman and O'Reilly 1996). The attainment of dual focus between radical and incremental innovation is challenging and calls for organizational architectures of sometimes conflicting processes, structure, and culture (cf, Tushman and O'Reilly 1996; Wind and Mahajan 1997). While prior research has investigated the structural and cultural determinants (Duncan 1976; Gibson and Birkenshaw 2004), there is a significant lack of research addressing the third major element of business processes. Without winning business processes in place that influence both exploration and exploitation, a successful portfolio mix of radical and incremental product innovations that maximize customer value and benefits will not be fully realized, and firm performance will suffer. Through core business processes, marketing's role and influence is significant in increasing customer value creation in the resulting product innovations. By mapping the "inside-out" and "outside-in" processes of a market-driven organization (Day 1994) into the Srivastava et al. (1999) core business process framework, this dissertation develops and tests a model of business process influence on dual focus in innovation strategies in the context of the high technology manufacturing environment. Each of these processes is critical in generating maximum customer value and is an explicit input into strategic choices and decisions (Srivastava et al. 1999). Specifically, it is argued and proposed that the Product Development Management (PDM) process, comprised of the processes of market experimentation, technology monitoring, and technology competence, predominantly influences exploration while the Supply Chain Management (SCM) process, comprised of the processes of channel bonding and quality process management, predominantly influences exploitation. The Customer Relationship Management (CRM) process, encompassing the processes of lead user collaboration, competitor benchmarking, and current customer knowledge process, acts as a moderator to add dual focus to these extremes by interacting with PDM processes to enhance exploitation and with SCM processes to enhance exploration. Furthermore, it is proposed that firms successfully achieving a dual focus have greater firm performance than firms entrenched in either extreme. Hypotheses were tested with data collected from a nationwide sample of high technology manufacturers. The results largely supported the main effect hypotheses of the PDM processes and SCM processes on exploration and exploitation. Additionally, the hypothesis of a positive interaction between exploration and exploitation on firm performance was also supported, however no visible support was garnered for the moderating impacts of CRM processes on PDM and SCM processes as hypothesized. Post hoc analyses were performed, bringing additional insight into dual focus based on the successful implementation of opposing businesses processes. Specifically, dual focus firms were shown to have multiple processes in place that impact both types of innovation strategies and that these firms implement these processes to a greater extent than those firms operating in the more extreme positions. Academic and managerial implications are discussed, as well as study limitations and exciting future research directions.
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Date Issued
2007
Identifier
CFE0001573, ucf:47114
Format
Document (PDF)
PURL
http://purl.flvc.org/ucf/fd/CFE0001573
Dual Branding: An Investigative Look into Dual Branding's Position within the Concept of Brand Alliance in the Hotel Industry
Title
Dual Branding: An Investigative Look into Dual Branding's Position within the Concept of Brand Alliance in the Hotel Industry.
Creator
Ronzoni, Giulio, Fyall, Alan, Torres Areizaga, Edwin, Singh, Dipendra, Weinland, Jeffrey, Smith, Scott, University of Central Florida
Abstract / Description
The purpose of this dissertation was to investigate, in an exploratory way, the state of the art of the application of brand alliances, with a particular focus on the practice of dual branding, in the field of lodging. More precisely, this research aimed at identifying and evaluating the determinants of industry adoption of, and customer satisfaction with, intra-company dual branding strategies in the US lodging industry.The primary purpose of this study is to determine the efficacy of dual...
Show moreThe purpose of this dissertation was to investigate, in an exploratory way, the state of the art of the application of brand alliances, with a particular focus on the practice of dual branding, in the field of lodging. More precisely, this research aimed at identifying and evaluating the determinants of industry adoption of, and customer satisfaction with, intra-company dual branding strategies in the US lodging industry.The primary purpose of this study is to determine the efficacy of dual branding in the field of the lodging industry, a phenomenon that is still insufficiently explored in the literature. In fact, the scarcity of literature pertaining to the lodging industry has forced this study to consider the research related to other segments and industries where dual branding strategies have been studied. Therefore, this study intended to expand the existing body of knowledge, advancing the theory of brand alliance from an industry and consumer perspective, as well as adapt, refine, and utilize a scale suitable for the measurement of dual branded hotels' customer satisfaction. This dissertation used an exploratory sequential mixed method approach. In the first qualitative phase, face-to-face and telephone interviews with operational hotel managers, corporate hotel managers, real estate development and management companies' managers, owners, and presidents, as well as hotel and lodging associations' professionals have been conducted. In addition to relevant and significant findings and results obtained through the hotel industry professionals interviewed, themes, constructs, and variables useful in the refinement and adaptation of a dual branding customer satisfaction scale were attained. Consequently, the second quantitative phase consisted of an online administration of a scenario-based questionnaire to dual branded hotels' customers of a dual branded lodging property aimed at identifying and evaluating the determinants of customer satisfaction.The ultimate purpose of this research has been to understand the main issues of implementation of dual branding practices and strategies in the lodging context. In particular, it has been to highlight and provide managerial, theoretical, methodological, and practical implications and recommendations for the US lodging industry, in the adoption of intra-company dual branding strategies. The suggestions offered in the study are relevantly timed to what is happening within the lodging industry, offering implications for both academia and industry.
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Date Issued
2019
Identifier
CFE0007716, ucf:52411
Format
Document (PDF)
PURL
http://purl.flvc.org/ucf/fd/CFE0007716