Strategic choice along the vertical coordination continuum |
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| Institution: | 1. Department of Agricultural Economics, Michigan State University, 83 Ag Hall, East Lansing, MI 48824, USA;2. University of Florida, Gainesville, FL 32611, USA;1. Intelligent Computing and Machine Learning Lab, School of ASEE, Beihang University, Beijing 100191, China;2. School of Biological Science and Medical Engineering, Beihang University, Beijing 100191, China;3. Department of Computer Science, University of British Columbia, Canada;4. Courant Institute of Mathematical Sciences, New York University, USA;1. Institute for Choice, University of South Australia, Level 13/140 Arthur Street, North Sydney, NSW 2060, Australia;2. Department of Marketing, Farmer School of Business, Miami University, Oxford, OH 45056, USA;3. University of Alberta, Augustana Campus, Camrose, AB T4V 2R3, Canada;1. Department of Endocrinology, University of Ioannina, 45110 Ioannina, Greece;2. Laboratory of Human Reproductive Genetics, Department of Obstetrics and Gynaecology, University of Ioannina, 45110 Ioannina, Greece;1. Department of Electrical Engineering, MCKV Institute of Engineering, Liluah, Howrah 711204, India;2. Department of Electrical Engineering, Ghani Khan Choudhury Institute of Engineering and Technology, Malda 732102, W.B., India;1. Innovationsausschusses beim Gemeinsamen Bundesausschuss (G-BA), Stabsstelle Patientenbeteiligung, Berlin, Germany;2. Bundesarbeitsgemeinschaft Selbsthilfe von Menschen mit Behinderung und chronischer Erkrankung und ihren Angehörigen e.V. |
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| Abstract: | Starting from the generalized notion of a vertical coordination continuum introduced by Williamson and others, the article more specifically defines the nature of the continuum, especially the array of hybrid strategies. The continuum as presented includes five distinct groups of strategy–spot markets, specification contracts, relation-based alliances, equity-based alliances, and vertical integration. The article then presents a decision making framework that can be used by firms to determine which place on the continuum makes the most sense for a particular transaction. The framework suggests that five assessments are critical to adopting a specific change in coordination strategy: (1) Is the current strategy too costly?; (2) Would an alternative strategy reduce the cost?; (3) Is an alternative programmable?; (4) Is an alternative implementable?; (5) Is the risk/return tradeoff acceptable? If the answers to all five assessments are “yes,” then a change in strategy would be expected to occur. |
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