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SUMMARY:Business Evolution and a Holistic Response - Suthikorn Kingkaew
DTSTART:20100504T121000Z
DTEND:20100504T130000Z
UID:TALK24660@talks.cam.ac.uk
CONTACT:Dr Hilary Powell
DESCRIPTION:The world has observed the evolution of business structures fr
 om the multi-divisional model\, which internalizes various functions withi
 n firms\, to the systems integration model\, in which firms exert control 
 over related entities through external coordination. This structural chang
 e is termed ‘business evolution’ because it resembles to natural evolu
 tion. The transaction cost and the knowledge based views are used to expla
 in this change. As technology progresses\, the business world first respon
 ses by integrating various functions within firms\, thus bypassing high tr
 ansaction costs by using external procurements. The arrival of information
  technology accelerates the flow of information\, leading to an increase i
 n knowledge of firms and a subsequent reduction in transaction cost. This 
 gives rise to a systems integration era when businesses are more intertwin
 ed in complex global value chains. The author proposes a new ‘holistic f
 ramework’ as a way to cope with this complexity. This framework integrat
 es value chain with industry-\, resource- and institution-based views. The
  value chain enables us to analyse firms within their interrelated environ
 ments\, looking at it as a chain of interlinked activities. Furthermore\, 
 the incorporation of these three approaches and their interactions should 
 provide a better understanding of possible factors that can influence firm
 s and their related entities.
LOCATION:Entertaining Room\, Darwin College
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