Adapting for Innovation Including Divestitures in the Debate.pdf

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1、LongRangePlanning44(2011)4e25http://www.elsevier.com/locate/lrpAdaptingforInnovation:IncludingDivestituresintheDebateCaterinaMoschieriandJohannaMairExistingliteraturearguesthatdivestedunitsareunwantedandpoorperformerseyetevidencesuggeststhatcompaniesdodivestwellp

2、erformingunits,andoftenretainarelationshipwiththem,especiallyinthequestforinnovation.Thisarticlepresentsanexploratorycasestudytoexaminehowacompanystructuresthedivestitureofanin-novativeunitandhowitcanbenefitfromtheinnovationtheunitgenerates.Theanalysisfocusesonho

3、wanestablishedcompanycanusedivestitureasastrategytoenhancetheinnovationofitsunits,andcaptureitsvalue,bystructuring,maintainingandnurturingaspecialrelationshipwiththeunbundledunit.Underneworganizationalarrangement,resourcescanbetransferredfromtheparenttotheunit,wh

4、iletheparentretainsaccesstotheinnovationdevelopedwithintheunit.Thisstudyproposesaframeworkthatofferscorporatechangeagentsandstrategistsanewperspectiveonhowtointegrateinno-vationandcorporatestrategy.Ó2010ElsevierLtd.Allrightsreserved.IntroductionCurrentresearchond

5、ivestitures-understoodasthesaleordisposalofabusinessunitbyofferingitonthemarket-ischaracterizedbyaspecialtension.Ontheonehand,empiricalstudiesshowthatdivestedunitsaretypicallypoorperformers,withdivestituresportrayedasreactionstopreviousstrategicmistakesof1multi-b

6、usinesscompaniesoraschangestotheirearlierdecisions.Ontheotherhand,thereisevidenceindicatingthatcompaniescandivestunitsthatareperformingwellandretainrelationshipswiththemsoastoappropriatethevaluegeneratedbytheseparatedunits.Onereasontodivestawellperformingunitisif

7、itisdevelopingautonomousstrategicactivitiesandexploringnewopportunitiesandbusinesses2inwaysthatriskdisruptingtheoverallorganization.Thisstudyfocusesonthedivestitureofonesuchinnovativeunitinordertoexaminehowacompanystructuresthedivestiture,andhowitensuresthatitcan

8、stillcapturetheinnovationgeneratedbytheunit.Bothscholarsandpractitionershaveobserved3divestitureswheretheparentretaineditsrelationshipwiththedivestedunit,andla