Absorptive capacity (ACAP) has long been used in the research of technology firms as an indication of knowledge acquisition. This paper links knowledge input using new product introductions (NPI), to commercial output, addressing one of the key criticisms of research and development expenditures as a measure of an organization's effort. We propose that firms with a strong basic science foundation such as biology and chemistry seek to advance their scientific knowledge in addition to developing and selling innovative products. In contrast, corporations with a more applied focus forego fundamental scientific advancement and concentrate their actions on the development of innovative products. Results from a sample of 487 firms over a 10-year period indicated that firms with an applied science foundation had greater numbers of NPIs, both breakthrough and innovative, suggesting that a solutions-based approach had greater value in terms of innovative output. The pursuit of science may build knowledge, but a clear link between increased ACAP and innovative output was not found. Our results also suggest that basic science firms have a positive relationship with both breakthrough and incremental NPIs using merger and acquisition activities. Applied science firms found university alliances useful in generating NPIs.
Purpose Walmart achieved extraordinary success and growth in its home country before embarking on a strategy of international expansion. While most of Walmart¹s international expansion efforts were successful, the retailer experienced some challenges in Germany and South Korea, exiting both less than ten years after initial entry. In 2016, Walmart announced the closure of 269 stores worldwide. Although most Walmart stores are now outside the USA, the performance of these stores lag their US counterparts. Walmart has not been able to simply export its “Everyday Low Price” approach. It is important to understand cultural differences in the way people shop in addition to understanding the market, economy and laws of various regions around the world. Design/methodology/approach Walmart’s successes and missteps in each country are analyzed. The studies looked at each country’s culture, shopping habits and discuss what worked and what did not in each country. The authors hope that managers planning international expansion will learn from the successes and failures of this giant retailer. Findings Walmart has a significant presence in Mexico, the UK, Brazil, China and Canada. It has been successful in countries where it has adapted the Walmart model to the local market. International expansion for Walmart, along with other retailers, is now being highly impacted by the growth in online shopping. However, the use of technology for shopping is not a homogenous global experience. The increased demand for online retailers suggests that firms slow down (but not stop) brick and mortar international expansion. Practical implications Considering the projected growth in online shopping, retailers with global aspirations need to have a strong and sustainable competitive advantage (e.g. products, operations, marketing and brand name reputation) in addition to a clear internationalization plan. The same factors critical to brick and mortar expansion are applicable to online growth. Having a successful, long-term presence in selected countries requires a clear understanding of each country’s infrastructure, demographics, political and economic systems, in addition to cultural awareness and an understanding of shopping practices. Social implications The growth of online shopping internationally will also fundamentally alter international expansion for Walmart and other retailers. Interestingly, Chinese shoppers may be leading the trend in online shopping, as nearly 65 percent of Chinese shoppers use their mobile phones for online shopping, are more likely to buy from off-shore online retailers and are more likely to use their mobile phones to compare prices than either Canadian or US shoppers (PWC, 2016). Walmart’s recent acquisition of Jet.com is sending a clear signal that brick and mortar shopping is not the only way to expand internationally. Originality/value This original work about Walmart’s growth strategy internationally is unique. This work will be of great value to managers thinking of expanding internationally. The non-embracing of local cultural habits and use of non-local managers is something that can be easily overlooked when thinking of expansion. Serious financial consequences can be easily avoided by being aware of the mistakes that others have made.
The current U.S. health care system, with both rising costs and demands, is unsustainable. The combination of a sense of individual entitlement to health care and limited acceptance of individual responsibility with respect to personal health has contributed to a system which overspends and underperforms. This sense of entitlement has its roots in a perceived right to health care. Beginning with the so-called moral right to health care (all life is sacred), the issue of who provides health care has evolved as individual rights have trumped societal rights. The concept of government providing some level of health care ranges from limited government intervention, a 'negative right to health care' (e.g., prevention of a socially-caused, preventable health hazard), to various forms of a 'positive right to health care'. The latter ranges from a decent minimum level of care to the best possible health care with access for all. We clarify the concept of legal rights as an entitlement to health care and present distributive and social justice counter arguments to present health care as a privilege that can be provided/earned/altered/revoked by governments. We propose that unlike a 'right', which is unconditional, a 'privilege' has limitations. Going forward, expectations about what will be made available should be lowered while taking personal responsibility for one's health must for elevated. To have access to health care in the future will mean some loss of personal rights (e.g., unhealthy behaviors) and an increase in personal responsibility for gaining or maintaining one's health.
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