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Hierarchical strategies and strategic fit in the keep‐or‐sell decision

Hierarchical strategies and strategic fit in the keep‐or‐sell decision Purpose – Besides applying knowledge in own products and services, firms increasingly exploit their knowledge assets externally, e.g. by means of licensing out technology. The aim of this paper is to help firms achieve strategic fit in the keep‐or‐sell issue, which results from potential external knowledge exploitation. Design/methodology/approach – The keep‐or‐sell decision refers to the issue whether to commercialize knowledge assets externally in addition to exploiting them inside the organization. Because of the high opportunities and risks of externally leveraging knowledge, the keep‐or‐sell decision constitutes a major area of conflict between strategies at different levels, particularly knowledge vs product strategies, corporate vs business unit strategies and R&D vs marketing strategies. After detailing the keep‐or‐sell decision, the paper conceptually explores how firms may respond to potential conflicts in the keep‐or‐sell decision by achieving strategic fit. Findings – The paper identifies, in particular, three major characteristics of a firm's strategic approach, i.e. coordination, centralization, and collaboration, which may help firms achieve strategic fit in the keep‐or‐sell issue. Originality/value – The keep‐or‐sell decision is a unique arena for studying hierarchical strategies and strategic fit. As a result, this paper has major implications for research into strategic fit, hierarchical strategies, knowledge management and open innovation. Achieving fit across a firm's different strategies in the keep‐or‐sell issue is essential for firm performance in a knowledge‐based economy. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Management Decision Emerald Publishing

Hierarchical strategies and strategic fit in the keep‐or‐sell decision

Management Decision , Volume 45 (3): 20 – Apr 10, 2007

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Publisher
Emerald Publishing
Copyright
Copyright © 2007 Emerald Group Publishing Limited. All rights reserved.
ISSN
0025-1747
DOI
10.1108/00251740710744990
Publisher site
See Article on Publisher Site

Abstract

Purpose – Besides applying knowledge in own products and services, firms increasingly exploit their knowledge assets externally, e.g. by means of licensing out technology. The aim of this paper is to help firms achieve strategic fit in the keep‐or‐sell issue, which results from potential external knowledge exploitation. Design/methodology/approach – The keep‐or‐sell decision refers to the issue whether to commercialize knowledge assets externally in addition to exploiting them inside the organization. Because of the high opportunities and risks of externally leveraging knowledge, the keep‐or‐sell decision constitutes a major area of conflict between strategies at different levels, particularly knowledge vs product strategies, corporate vs business unit strategies and R&D vs marketing strategies. After detailing the keep‐or‐sell decision, the paper conceptually explores how firms may respond to potential conflicts in the keep‐or‐sell decision by achieving strategic fit. Findings – The paper identifies, in particular, three major characteristics of a firm's strategic approach, i.e. coordination, centralization, and collaboration, which may help firms achieve strategic fit in the keep‐or‐sell issue. Originality/value – The keep‐or‐sell decision is a unique arena for studying hierarchical strategies and strategic fit. As a result, this paper has major implications for research into strategic fit, hierarchical strategies, knowledge management and open innovation. Achieving fit across a firm's different strategies in the keep‐or‐sell issue is essential for firm performance in a knowledge‐based economy.

Journal

Management DecisionEmerald Publishing

Published: Apr 10, 2007

Keywords: Corporate strategy; Strategic management; Knowledge transfer; Licensing; Innovation; Technology led strategy

References

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