In other words, the project is like an option: there is an opportunity, but not an obligation, to go ahead with it.” Real options theory – a new theory. Then you can start reading Kindle books on your smartphone, tablet, or computer - no Kindle device required. endobj /PageLayout/SinglePage /ProcSet[/PDF/Text] We review the fundamentals of ROT and provide a taxonomy of this research. [email protected]� ��,�-ilY�_f|�^=�M�f�3|�� �� Y��(�"TL �|/ �v��֭��?�V�y!�g�V��l�v%Ig���������T������(�z:��kڶ��k�8Q�����滆2"i�6�Ͷ%L�J���͖:p.7'�v l�js��-� �K�9l:�����7�!��el�6oi/�b��-��u�G(�xv#�b����nAuމ͟�#��z/)��p�("h�1���ٕ��Jq��Щ��?���y�l;��&���#��"~�����|�7��PYG��+ ��k����Z&��;�P�R��6;�~Ÿ$R�:8�V��. The report focuses on … 1 0 8 4 4\)) There was an error retrieving your Wish Lists. Your recently viewed items and featured recommendations, Select the department you want to search in, + No Import Fees Deposit & $9.98 Shipping to United Kingdom. This volume offers conceptual pieces that trace out pathways for the theory to move forward and presents new research on the implications of real options for strategic investment, organization, and firm performance. This paper contributes to the debate on the role of real options theory in business strategy and organisational decision-making. an area of real options theory that has received a substantial amount of attention. Advocates of the approach emphasize that importing concepts from financial economics holds out the potential of yielding new insights on strategic decision-making under uncertainty as well as boundary-of-the-firm issues that are the focus of competitive and corporate strategy. endobj To get the free app, enter your mobile phone number. /� �.�Y�q���%B���O�F��NOi�φ�)����i>s�'�Ƿ�P)7���0f����Y\읕�jxF�T << Unable to add item to List. Real options theory is a major new framework in the theory of investment decision-making. 1 0 8 4 4) /Title(Real Options in Management and Organizational Strategy: A Review of Decision-making and Performance Implications) /Subject(This paper contributes to the debate on the role of real options theory in business strategy and organizational decision-making. It analyses and critiques the decision-making and performance implications of real options within the management theories of the \(multinational\) firm, reviews and categorizes the organizational, strategic and operational facets of real options management in large business settings. 2 . 1 . Instead, our system considers things like how recent a review is and if the reviewer bought the item on Amazon. /Count 36 << >> /Type/Catalog It seeks to examine the ways in which real options theory can contribute to strategic management. We don’t share your credit card details with third-party sellers, and we don’t sell your information to others. These attributes are examined from both strategic and operating perspectives of decision-making in organizations, also with an overview of the empirical evidence on real options decision-making and performance.) Enter your mobile number or email address below and we'll send you a link to download the free Kindle App. stream /ModDate(D:20201127063548+00'00') /CreationDate(D:20180214162525Z00'00') Please try again. /Author(Driouchi, T., Bennett, D.) /Parent 3 0 R /OpenAction[4 0 R/XYZ null null null ] Models of oligopolistic competition and the strategic exercise of investment options within a real options context include Smit and Ankum (1993), Kulatilaka and Perotti (1998), Trigeorgis (1996), Grenadier (1996) and Lambrecht (2000). If used as a conceptual tool, it allows management to characterize and communicate the strategic value of an investment project. The last quarter century has witnessed substantial growth in applications of real options theory (ROT) to international business (IB) research. Research summary: This article provides a review of real options theory (ROT) in strategic management research. /PageMode/UseNone The focus is particularly on the decision-making and performance attributes of the real options logic concerning strategic investments, governance modes and multinational operations management. Some features of the site may not work correctly. /Kids[152 0 R 4 0 R 11 0 R 15 0 R 19 0 R 25 0 R 29 0 R 33 0 R 37 0 R 41 0 R 45 0 R 49 0 R 53 0 R 57 0 R 61 0 R 65 0 R 69 0 R 73 0 R 77 0 R 81 0 R 85 0 R 89 0 R 93 0 R 97 0 R 101 0 R 105 0 R 109 0 R 113 0 R 117 0 R 121 0 R 125 0 R 129 0 R 133 0 R 137 0 R 141 0 R 145 0 R] >> 3 0 obj In Section 3, we Section 2 discusses how real options theory contributes to our understanding of investment mode choices, an especially relevant area to strategic management and organizational economics. }:���0*�� /Pages 3 0 R /S/Transparency /Group After viewing product detail pages, look here to find an easy way to navigate back to pages you are interested in. /CS/DeviceRGB There was a problem loading your book clubs. 1 . Semantic Scholar is a free, AI-powered research tool for scientific literature, based at the Allen Institute for AI. >> >> The real options method applies financial options theory to quantify the value of management flexibility in a world of uncertainty. /Type/Page Strategic Management: The Theory and Practice of Strategy in (Business) Organizations S. Jofre Foreword The present report is the result of an ongoing study on the patterns and trends on both the theory and practice in the field of strategic management. /Keywords(real options, decision-making, strategy, performance, ) >> We review the fundamentals of ROT and provide a taxonomy of this research. “Real options theory assumes that firms also have some choice in when to invest. << Bring your club to Amazon Book Clubs, start a new book club and invite your friends to join, or find a club that’s right for you for free. You're listening to a sample of the Audible audio edition. Our payment security system encrypts your information during transmission. ЂHfM:��4[F)l#����l{͑� Real options theory has attracted significant interest in the field of strategic management. endobj It also analyzes reviews to verify trustworthiness. 4 0 obj We examine how ROT can inform the key tensions that…, Real options theory in international business, Strategic NPV: Real Options and Strategic Games under Different Information Structures, Unlocking the value of real options: How firm-specific learning conditions affect R&D investments under uncertainty, Valuing human capital career development: a real options approach, Portfolio configuration and foreign entry decisions: A juxtaposition of real options and risk diversification theories, Managerial rationales for investing and divesting under uncertainty, Export mode portfolio: transaction cost economics and real options perspectives, Multinationality, portfolio diversification, and asymmetric MNE performance: The moderating role of real options awareness, Development of a conceptual framework on real options theory for strategic human resource management, How Do Real Options Matter? endobj Introduction In a recent section of the Financial Times, on October 4, 2010, while the biggest US auto manufacturer (GM) was announcing shutting down its Opel plant in Antwerp and laying off eight thousand employees in Europe as part of restructuring its European operations, KPMG was Top subscription boxes – right to your door, © 1996-2020,, Inc. or its affiliates. /Creator(�� P D F C r e a t o r 3 . Technological joint venture formation under the real options approach, Real Options: Managerial Flexibility and Strategy in Resource Allocation, Non‐additivity in portfolios of exploration activities: a real options‐based analysis of equity alliances in biotechnology, Real options in multinational corporations: organizational challenges and risk implications, View 32 excerpts, references background and methods, By clicking accept or continuing to use the site, you agree to the terms outlined in our.


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