035 022 036 037 034 017 017 023 024 008 018 046 033 Alliance Focus Cost

035 022 036 037 034 017 017 023 024 008 018 046 033

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–0.35 –0.22 –0.36 0.37 0.34 0.17 0.17 0.23 0.24 0.08 0.18 0.46 0.33 Alliance Focus Cost leader Differentiation stepwise Challenger Performance Integration IMR 25,5 534
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focus strategies, being positively related to challenger strategies ( þ 0.18) – supporting H3c , and negatively with a stepwise approach ( 2 0.22) – rejecting H3b , are associated with bold strategies. Fourth, followership is associated with other internationalisation strategies as hypothesised in H4 , with one modification: the link with challenger strategies is indirect through strategic alliances. Fifth, performance is positively affected by challenger (0.24) and more modestly by integration (0.08) strategies, and negatively by stepwise internationalisation strategies ( 2 0.35). Follower strategies only indirectly impact on performance through stepwise, challenger (through alliances) and integration strategies. Hence, H5 is in the main supported by our data. Finally, the indirect plus the direct model (Model 3 in Figure 2) yields the best fit in Table VI, as indicated by the direct link between cost leadership and performance – giving support to H6 . None of the two other generic strategies (differentiation and focus) impact directly on performance. Discussion The issue of strategy development of firms in global markets is still in its infancy. The present research endeavours to address the problem from two angles: partly by analysing strategies at two levels – generic and internationalisation strategies; partly by investigating the combined effects of the different levels of strategy on performance. We find support for the general hypothesis that generic strategies are impacting on the more “detailed” internationalisation strategies. In particular, cost leadership seems to be a strong precursor to proactive internationalisation strategies – integration and challenger strategies – with strong b coefficients. Also, corroborating this pattern of proactive globalisation, cost leadership is negatively associated with stepwise internationalisation strategies, possibly indicating a bolder stance, including rapid and more extensive deployment, toward international market involvement by firms with cost advantages. This latter confirms the pattern found by Solberg and Durrieu (2006) in a sample of Norwegian and UK exporters. Hypothesis Expected Outcome Test H1 Cost leadership ! challenger/integration/ standard þ þ / þ /ns Partly supported Cost leadership ! stepwise 2 2 Supported H2 Differentiation ! challenger/integration þ þ / þ Supported Differentiation ! stepwise/follower 2 ^ Not supported H3a Focus ! strategic alliances þ ns Not supported H3b Focus ! stepwise þ 2 Not supported H3c Focus ! challenger þ þ Supported H4 Follower ! challenger/standardisation/ integration þ þ /ns/ þ Partly supported H5 Challenger/standardisation/integration/ follower ! performance þ þ /ns/ þ / þ Partly supported Stepwise ! performance 2 2 Supported H6 Direct þ indirect ! higher performance þ þ Supported Note: ns – not significant Table IX.
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