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Showing posts with label synergy. Show all posts
Showing posts with label synergy. Show all posts

Wednesday, May 7, 2014

Call for Papers: EBMC 2014 - The European Business and Management Conference



July 3-6, 2014 - The Thistle Hotel
Brighton, United Kingdom
Abstract Submission Deadline Extended: May 15

2014 Conference Theme: "Individual, Community and Society: Conflict, Resolution and Synergy"

The International Academic Forum in conjunction with its global university partners is proud to announce the Inaugural European Business and Management Conference, to be held from July 3-6, 2014, at the Thistle Hotel Brighton, in the United Kingdom.

The European Business and Management Conference offers the occasion for wide-ranging, interdisciplinary discussion covering both policy and research in Europe, and beyond. EBMC 2014 will again bring together experts and leaders from the academic and business world to consider some of the pressing issues scholars and academics are facing in an open forum; seeking to define questions, pursue answers, search for research synergies and more; to both reflect on the recent past, and look forward, to exchange ideas and findings, in the exciting environment of an IAFOR event.

Journals

Publishing Opportunities: Authors of Accepted Abstracts will have the opportunity of publishing their associated paper in the official conference proceedings, and a selection of papers will be considered for inclusion in the internationally reviewed IAFOR journals associated with the conference. For more information about the IAFOR Journal of the Business and Management and other journals, please visit the IAFOR website under "Research". www.iafor.org

Web address: http://iafor.org/ebmc

Friday, November 1, 2013

Synergy Development in Economic Hubs



Successful development in Southeast Asia often rests partly in foreign direct investment and multinational firms. The author studied the investments between Malaysia and Singapore to determine that two-way investments embedded within business networks fostered synergy for economic growth (Yeung, 1998). It is a process of creating linkages between two economies, or entities, to ensure they develop from each other to create products for the market. 

What makes this process possible is that Malaysia and Singapore invest in each other’s economies. For example, Singapore invests primarily in services within Malaysia’s primary manufacturing base. Malaysia becomes an exporter of finished products and returns investment profits back to companies in Singapore. 

As the cross regional investments increase so does the business connection between the areas. The use of these connections and cross-capital investments creates a type of synergy based upon the varying skill sets embedded within each economy. Together they are able to provide stronger and better products and services that have more appeal on the market. 

When countries develop they change from importers to exporters (Dunning, 1998). This happens when the environment is conducive to local offerings; competitive strategy effectively reflects that need and the organizations are aligned to provide adequate products/services (Porter, 1990).  The area must align its business operations and offerings to the market need to effectively grow. 

Firms do not need to be owned by the exporting locality but the region should be the home location where investments turn into exports (Porter, 1986). The firms were the primary source of success in creating synergy. At a firm level it was these personal and business connections between companies that helped to create greater investment and cooperation for economic growth (Chandler, 1990). 

Most of the major firms from each country have cross operations. These cross operations connect to other networks within the countries and begin to share resources and knowledge. Significant competitive advantages can arise when companies from different countries and firms work together (Yeung, 1998). These are a result of:

-       Long-term relationships that reduce business uncertainty. 

-       Shared resources and information that offer “first mover” advantages.

-       Increased credit worthiness that improves financial flow.

-       Once established the system protects itself. 

Chandler, A. (1990) Scale and Scope: The Dynamics of Industrial Capitalism. Harvard University Press, Cambridge, MA.

Dunning, J. (1998)  Explaining International Production. Unwin Hyman, London.

Porter, M. (1986) Competition in global industries: a conceptual framework, in PO RT ER M. E. (Ed) Competition in Global Industries, pp. 15± 60. Harvard Business School Press, Boston.

Porter, M. (1980). The Competitive Advantage of Nations. Macmillan, London.

Yeung, H. (1998). Transnational economic synergy and business networks. Regional studies, 22 (8). 

Yeung, H. (1998a) The political economy of transnational corporations: a study of the regionalisation of Singaporean firms, Pol. Geogr., 17, 389± 416.