4. Comparative Managerial Learning in Germany and Britain: Techno-Organisational Innovation in Network Industries

Institutional, Industry and Power Effects on Integration in Cross-border Acquisitions

“…This has led British firms to pursue efficiency and market-driven strategies (Lehrer 2000(Lehrer , 2001 combined with an emphasis on short-term profitability ). An emphasis on financial performance was also encouraged by the City of London, which has played a central role in the financing of British industry .…”

“…This environment has encouraged the development of strong technological capabilities. Under intensifying competitive pressures, the 10s saw a gradual evolution towards more market-based capabilities, constrained by rigid hierarchical structures (Lehrer 2000(Lehrer , 2001.…”

“…Unlike France, where the 'financialization' of the economy accelerated in the mid-10s under globalization pressures (Djelic and Zarlowski 2005), Britain proactively and aggressively pursued market reforms from the early 180s onwards, including the promotion of competition, privatization and openness to foreign investment (Hall 186). This has led British firms to pursue efficiency and market-driven strategies (Lehrer 2000(Lehrer , 2001 combined with an emphasis on short-term profitability ). An emphasis on financial performance was also encouraged by the City of London, which has played a central role in the financing of British industry .…”

“…Further, whereas French engineers have received a broad-based scientific education, the structure of British engineers' skills is highly specialized due to the importance of the professions . British top management has had significant room for manoeuvre in pursuing its strategies in a relatively permissive social context, facilitating an earlier and faster development of marketbased capabilities than in France (Lehrer 2000(Lehrer , 2001.…”