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is more or less unknown in the context of change process commitment in interorganisational business relationships. Therefore, the key question of this paper is how do trust related factors influence on commitment in the early stage of the process of change in interorganisational business relationships? This article contributes to the research of trust in business relationships in several ways. First, this article presents quantitative understanding by analysing the influence and correlations of trust related factors and commitment in an early stage of the process of change. Second, this article enriches the narrow scientific commitment and trust construction of past researches by introducing the multidimensional influence of trust related factors in developing and stressing situation. Third, the dynamic food chain context with unbalanced power positions and profitability problems are taken to closer inspection. This study concerns the business relationship between turkey meat producers and a meat processor. Therefore, these findings could be useful for creating effective relational governance and collaboration mechanisms and strengthening the business relationships at the time of crisis. 23:01 Qualitative M&A research - A review Nilsson, Fredrik; Frimanson, Lars; Grant, Michael Uppsala University, Department of Business Studies, Uppsala, Sweden We will review the last ten years of qualitative M&A studies. In the review we will apply a multi-stakeholder perspective. The M&A research have been dominated by quantitative studies. Even though there is a certain amount of qualitative studies there is still a demand from scholars for more qualitative studies. One reason for this demand could be the lack of comprehensive reviews and synthesis of research done. Furthermore, most studies have an owner perspective. Since many other stakeholders affect and are affected by the acquisition process, a multi-stakeholder perspective will be an important contribution to the understanding of what happens within the M&A process. 23:02 Organizing the suppliers - Nokia within the telecom industry Uusitalo, Olavi Tampere University of Technology, Tampere, Finland We focus on the sale of Nokia’s contract manufacturer Eimo. The companies had a long term dyadic relationship. Nokia is currently one of the world’s leading manufacturers of mobile technology devices such as mobile phones and multimedia devices. Nokia participated into the early evolution of mobile communications during the time mobile phone usage boomed. It made the sector as its core business. Eimo is a Finnish company which manufactured various types of plastics, beginning from buttons and later on specializing to technical engineering plastic due to which it became a trustworthy supplier for Nokia. Our aim is to analyze from the stakeholder’s point of view the sell of Eimo to Foxconn, a Taiwanese global contract manufacturer. Our empirical findings indicate that Eimo had no emergency strategy related to the rapid changes of the telecom industry. It focused on extremely narrow niche area specializing only to plastic cases and thus could not compete with global contract manufacturers. Its product became a commodity for the handset. Eimo was also far too dependent on Nokia. Finally Nokia, the main customer of Eimo, suggested Eimo’s majority owner family the sale of the company to Foxconn. The sale of the company Nokia’s new purchasing strategies concentrating in the Far East both product/service and geographical wise did not have that much room for Eimo’s simple plastic covers. The contract 128 manufacturers had since the mid 1990’s supplied larger packages for the handset or even whole handsets. The decision of the sale of Eimo (or the re-organization of Nokia’s suppliers) for the four main stakeholders, the main customer, the buyer, Eimo’s majority owner family and Eimo’s US owner, was an easy one. Nokia with its sale suggestion hit two birds at the time. First, it gave a polite hint (and thanks for the long cooperation) to the owner family of Eimo that they had the last moment to make money. Second, Nokia invited a large enough contract manufacturer to the telecom industry to compete with the existing ones such as Flextronics, Sanmina, Celestica and Solectron. The buyer, Foxconn, got an excellent plastic cover in its solution. The US owner got nice amount of money. The other stakeholders, such as the Finnish authorities, employees and minority shareholders experienced in the next years the consequences. It seems that in conflicting situations the most powerful stakeholders such as owners and main customers of the company overrule the other stakeholders. 23:03 Power balance to explain customer strategies and reactions in acquisitions Öberg, Christina Lund University, Department of Industrial Management and Logistics, Lund, Sweden Such researchers as Pfeffer (1972) and Finkelstein (1997) have explained mergers and acquisitions with dependencies created among its actors. An acquirer would buy a target to decrease its dependence on resources provided by the target and thereby also reduce its uncertainty. Those thoughts are closely related to ideas on how power, and specifically imbalance in power-dependence, may cause companies to withdraw from established business relationships or ally with additional parties to reduce the impact of existing imbalances (Emerson, 1962). This paper relies on those ideas of power as an incentive for change and regained power balance as explanation for reactions, to discuss intentional and unintentional changes in customer relationships following an acquisition. The following questions are addressed: • How is power used by the acquring and acquired parties to improve their position in the network? • How does increased market power of the acquiring and acquired parties affect customer relationships? • What responses are seen among customers to such increased power and how can these responses be explained in terms of power and power balance/imbalance? Empirical illustrations are provided from a multiple case study based on interviews with representatives of customers and the acquiring and acquired parties. The different case studies represent different degrees of integration among the acquiring and acquired parties and hence links customer reactions to whether and how power become manifested through integration among the acquring and acquired parties. The paper concludes that when power is indirect in the form of the acquring and acquried parties becoming stronger, yet without them actually practicing their combined power through integration, reactions take the form of customers allying with other customers. If power is instead used directly to create a new position, customers are more inclined to withdraw from their relationships with the acquiring or acquired parties. The proposed paper contributes to literature on mergers and acquisitions through discussing their effects on an external stakeholder: the customer. Homburg and Bucerius (2005) have pointed to the limited amount of research on the marketing dimension of mergers and acquisitions, and Anderson, Havila and Salmi (2001) have stressed the importance of considering external party effects of mergers and acquisitions.
23:04 Customer retention in cross-border acquisitions: Empirical perspective on relational forces in bulk liquid distribution (BLD) company Degbey, William; Degbey, William University of Turku School of Economics, Marketing and International Business, Turku, Finland This paper sheds light on the empirical relational forces enabling customer retention in cross-border acquisitions, using the case of a bulk liquid distribution (BLD) company. The study reveals that cross-border acquisition as a strategic move to gain significant market advantages and surmount acquisition challenges beyond a firm’s domestic border requires that, the acquirer must establish a fit with the target firm and harness the interdependence between the target firm and its customers’ relations. It is argued that the presence of (intermediating) relational forces of reputation, trust and commitment, switching cost and global networks are crucial to acquisition success. Finally, a model of how relational forces (RF) must commingle between the focal firms and the external environment was unveiled amidst the acquisition challenges, as a trigger for customer retention in cross-border acquisitions. 23:05 Acquisitions in the car industry - complexity the reason for failed integration Beusch, Peter Gothenburg University, Business, Economics and Law, Gothenburg, Sweden During the last few years, several examples of split-ups (e.g. Daimler and Chrysler respectively Ford and Aston Martin in 2007; Ford and Jaguar but also Land Rover in 2008 respectively Volvo Cars in 2010) illustrate that merged multibrand car companies in practice often fail to achieve the intended cost-savings and scale-economies. Miscarried and inappropriate integration, due to unexpected complexity, often seems to be the reason for this destroyed rather than created value. The aim of this paper is, with help of a case study in a Swedish car company that had been acquired by an American multinational some years ago, to demonstrate some of the complexity involved with the integration of car brands and when finding the optimal product variety is at stake. For this purpose, empirical data was collected with help of a longitudinal case study and loosely-structured interviews with 29 financial managers, combined with extracts from company internal documents. The findings reveal above all two interconnected integration problems, namely first the strongly different views about which accounting and finance practices that are best suited to pursue (different) strategic targets. In this question, a sort of solution was found. However, the second problem area was about the difficulty of having two dissimilar Part Numbering Systems (PNS) and here, actors did not really find a way to solve this ”Catch 22” dilemma. This illustrated that brand integration objectives not only mean the integration of physical, technical and financial issues but also decision makers’ conception of reality and their belief of what is right and what is wrong for the company and for themselves. This is a contribution that can be seen in the particular and specific light of M&As in combination with accounting and finance but also system related issues and, in addition, in the light of a more general scientific approach, then building a bridge between the typical ’social sciences’ and the more rational and structured ’system sciences’. 23:06 The importance of industry - academia co-operation in developing new technology for competitive advantage Holtström, Johan 1 ; Anderson, Helén 2 1 Department of Management and Engineering, Linköping University, Linköping, Sweden; 2 Department for Entrepreneurship Marketing & Management, Jönköping International Business School, Linköping University, Linköping, Sweden In the early work using the network approach the importance of technological development was emphasized. The technological adaptations needed in order to secure functionality and quality in products and processes demanded much interaction. These interactions developed stable and dynamic buyer-seller relationships (Gadde & Håkansson, 1992; Håkansson & Snehota, 1995; Ford, 1982). Since then, the character and dynamics of such relationships have been thoroughly researched and much have been learnt on relationship complexity and how determining they are not only for technological development (industrial networks) but for the business development (business networks) (Anderson, Håkansson & Johanson, 1994; Freytag & Ritter, 2005; Mattsson & Johanson, 2006; Ritter, Wilkinson, & Johnston, 2004; Wilkinson & Young, 2002). In technological development also non-business actors are influential and important for business development (Lundgren, 19xx). In most business network studies the parties are regarded as having ”similar” power; partly because power is not in focus as such and also difficult to study, and partly because power does not fit into the very definition of the horizontal framework the network is. However, since the early studies research has shown that power may play a difference, e.g. attempts to control in the business network (Wilkinson & Young, 2002) and that large actors have the capacity and possibility to deliberately create, adapt and control a specific network structure (Möller, Rajala & Svahn, 2005). Power in terms of ownership may play an important role, e.g. through mergers or acquisitions (Weston & Weaver, 2001; Trautwein, 1990) or strategic alliances (Sengupta & Perry, 1997). The study takes its point of departure from a supplier in the aircraft engine industry which is characterized as high-tech, R&D-intensive, capitalintensive and global. Global in terms of the use of the products and the industry structure (highly specialized companies over the world). Through a longitudinal perspective we describe the strategy to work with developing key relationships in order to develop products and businesses. The purpose with this study is to explore the nature and the importance of industry - academia co-operation in technology development for company business development. And, to address the theoretical and conceptual challenges such an empirical focus may raise having a network perspective. 23:07 Intersecting chains of events: Corporate acquisitions in an industry context Havila, Virpi 1 ; Dahlin, Peter 2 ; Halinen, Aino 3 1 Department of Business Studies, Uppsala University, Uppsala, Sweden; 2 Jönköping International Business School, Jönköping, Sweden; 3 Department of Marketing, Turku School of Economics, Turku, Finland Company acquisitions occur daily all over the world and in all types of industries. They represent strategic actions taken by companies and their owners in order to develop or safeguard their business. Simultaneously they mark major structural changes in the competitive landscape. Each acquisition involves several business actors at a time reshaping the business context in which the companies, their competitors, customers and 129
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School of Business NFF 2011 August
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Welcome to the 21 st NFF conference
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Conference theme The process of pro
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About Stockholm University School o
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Wednesday 9:30-10:30 Paper sessions
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Seminar room 3:240 Track 17: Nordic
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Seminar room 3:240 Track 17: Nordic
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Seminar room 3:240 Track 18: Sustai
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TRACK 1 - Perspectives on Service r
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TRACK 2 - The practice of services
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TRACK 3 - Brands & branding - conte
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04:03 Cooperation and competition -
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TRACK 6 - Interdisciplinary perspec
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Wednesday August 24 13:30-15:00 08:
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12:03 Entrepreneurial success: The
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Monday August 22 15:30-17:00 13:08
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14:02 Art-based interventions in ex
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TRACK 17 - Nordic Practices of HRM
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TRACK 21 - Practicing restructuring
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TRACK 23 - Mergers & acquisitions:
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24:08 Knowledge creation in multina
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TRACK 29 - Entrepreneurship educati
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Tuesday August 23 13:30-15:00 Works
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Abstracts 01:01 Service Systems as
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i.e. contractual arrangements estab
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innovation in different parts and c
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01:19 The buyer-seller paradox of p
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02:05 Managers in professional serv
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02:11 Cognitive distortion accounte
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as retailers internationalize, they
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integration, including communicatio
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03:06 Sensory positioning of metrop
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1995), customers as active co-creat
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are expressed from various directio
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04:09 Integrating government author
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Page 93 and 94: 11:07 Feminist organisation studies
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Page 153 and 154: Author index *Presenting author A A
Page 155 and 156: Marianne, Ekman Rising 22:05 Markku
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