Abstract
We interpret the wait-and-see strategy as a decision to maintain unchanged the firm’s commitments to its business network relationships. To explain why firms choose a wait-and-see strategy, we propose an extension to the relationship commitment decisions aspect of the Uppsala internationalization process (IP) Model. With this development, we explain that the wait-and-see strategy can result from a change in the levels of risk assumed in the firm and not only from the decision to adjust the risk that the firm encounters by changing commitments to its network relationships. This development enhances the ability of the IP model to accommodate contextual influences on relationship commitment decisions and to explain a more complete suite of internationalization trajectories. Extending the theoretical core of the IP model further confirms its efficacy, its application to international strategy, and its potential to be developed as a general process model of strategic change.
Résumé
Nous interprétons la stratégie wait-and-see comme la décision de maintenir inchangés les engagements de la firme vis-à-vis de ses relations d’affaires. Pour expliquer pourquoi les firmes choisissent une stratégie wait-and-see, nous proposons une extension aux décisions d’engagement dans les relations du modèle d’Uppsala sur le processus d’internationalisation (PI). Avec ce développement, nous expliquons que la stratégie wait-and-see peut résulter d’un changement dans les niveaux de risque assumés par la firme et pas seulement de la décision d’ajuster le risque que la firme rencontre en modifiant les engagements vis-à-vis de ses relations d’affaires. Ce développement améliore la capacité du modèle PI à adapter les influences contextuelles sur les décisions d’engagement relationnel et à expliquer un ensemble plus complet de trajectoires d’internationalisation. Elargir le fond théorique du modèle PI confirme son efficacité, son application à la stratégie d’internationalisation et son potentiel de pouvoir être développé comme un modèle général du processus de changement stratégique.
Resumen
Interpretamos la estrategia de esperar y ver como una decisión para mantener intactos los compromisos de la empresa con las relaciones en su red de negocios. Para explicar por qué las empresas escogen una estrategia de esperar y ver, proponemos una extensión al aspecto de las decisiones sobre el compromiso con las relaciones del modelo Uppsala del proceso de internacionalización (IP). Con este desarrollo, explicamos que la estrategia de esperar y ver puede resultar de un cambio en los niveles de riesgo asumidos en la empresa y no sólo de la decisión de ajustar el riesgo que la empresa encuentra cuando cambia los compromisos con su red de negocios. Este desarrollo mejora la habilidad del modelo del proceso de internacionalización a acomodar influencias contextuales en las decisiones sobre la relación de compromiso y para explicar un conjunto más completo de las trayectorias de internacionalización. La extensión del núcleo del modelo del proceso de internacionalización re-confirma su eficacia, su aplicación a la estrategia internacional, y su potencial para ser desarrollado como un modelo de proceso general de cambio estratégico.
Resumo
Interpretamos a estratégia de aguardar-e-ver como uma decisão de manter inalterados os compromissos da empresa com os relacionamentos de sua rede comercial. Para explicar por que as empresas escolhem uma estratégia aguardar-e-ver, propomos uma extensão ao aspecto das decisões de compromisso de relacionamento do modelo de processo de internacionalização de Uppsala (IP). Com este desenvolvimento, explicamos que a estratégia de aguardar-e-ver pode resultar de uma mudança nos níveis de risco assumidos na empresa e não apenas da decisão de ajustar o risco que a empresa encontra ao mudar compromissos com seus relacionamentos de rede. Esse desenvolvimento melhora a capacidade do modelo IP para acomodar influências contextuais nas decisões de compromisso de relacionamento e para explicar um conjunto mais completo de trajetórias de internacionalização. A extensão do núcleo teórico do modelo IP confirma ainda mais sua eficácia, sua aplicação à estratégia internacional e seu potencial para ser desenvolvido como um modelo de processo geral de mudança estratégica.
摘要
我们将观望策略解读为维持公司对其业务网络关系承诺不变的决策。为了解释为什么企业选择观望策略, 我们提出了对乌普萨拉国际化过程 (IP) 模型关系承诺决策方面的延伸。通过这一拓展, 我们解释了观望策略可能是企业承担的风险水平发生变化的结果,而不仅仅是调整企业由于改变其对网络关系的承诺而遭遇风险所做决定的结果。这一拓展增强了IP模型适应情境对关系承诺决策影响的能力, 并解释了更为完整的国际化轨迹组合。对IP模型理论核心的延伸进一步确认了其功效、对国际策略的应用、以及作为策略变化通用过程模型可开发的潜力。
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Accepted by Ulf Andersson, Area Editor, 22 August 2017. This article has been with the authors for three revisions.
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Clarke, J.E., Liesch, P.W. Wait-and-see strategy: Risk management in the internationalization process model. J Int Bus Stud 48, 923–940 (2017). https://doi.org/10.1057/s41267-017-0110-z
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DOI: https://doi.org/10.1057/s41267-017-0110-z