John Mcgee
Biographic Data
| ID | 3984938 |
|---|---|
| NAME | John Mcgee |
| GIVEN NAMES | John |
| FAMILY NAME | Mcgee |
| SIGNATURE | MCGEE J |
| AFFILIATIONS | University of Warwick |
| VERIFIED | No |
| TOTAL WORKS | 53 |
| TOTAL CITATIONS | 13 |
| AUTHOR COUNT | 53 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 2006 |
| LATEST PUBLICATION YEAR | 2015 |
| H-INDEX | 2 |
Break‐Even Analysis
Break‐even analysis is a simple attempt to estimate the volume point at which a firm can break‐even (earn no profits but make no losses) on a product, a product line, on a factory, or even across a whole business. It is based simplifying assumptions that some costs are fixed with respect to volume and others are variable and that prices are constant.
Economies of Scale
Economies of scale are introduced in Cost Analysis.
Competitive Market Theory
This is an explanation of how industrial organization, which deals with the behavior of markets, is turned toward the profit‐seeking activity of firms. This provides the backdrop of the various types of competitive market within which firms exist and lead to an identification of key economic concepts for them.
Frugal Innovation
Frugal innovation can be defined as the practice of simplifying product components and manufacturing processes into basic elements, in order to redesign both the product and the processes to become more efficient and cost effective. The economic relevance of frugal innovation is the creation of low‐cost mass market products that are affordable to all social strata including the less affluent segments. As the price of a frugal product is low, the …
Barriers to Entry and Exit
Barriers to entry should technically be regarded as entry deterrent conditions. There are three broad categories of activities that deter entry; namely, structural obstacles to entry, risks of entry, and reduction of the incentive for entry. Barriers to exit are the activities and circumstances that commit a firm to its industry and its position within it. Discussion includes types of entry conditions and risks of entry.
Economic Concepts for Strategy
Microeconomic analysis introduces us to four key features of the market “context” in which these rival firms sell their products. The supply side of the market tells us how costs arise and from which we can observe the phenomenon of cost advantage. The demand side of the market tells us how value is perceived and paid for by customers and from which we can observe the nature of differentiation advantage. Analysis of markets and competition tells …
Strategic Renewal
Strategic renewal is the process of change and the outcome of adjustment in strategic direction that have the potential to determine the long‐term competitivity of a firm. The objective of strategic renewal is to provide a strategic fit between a firm's internal capabilities and shift in the external environment involving technology, markets, industries, and the economy that require a change in the status quo of conducting business. There are two…
Demand Analysis in Practice
Demand analysis is important in two ways: (i) it provides a framework for analyzing price and other influences on the sales of the firm's products and (ii) it provides a baseline for pricing products, and marketing generally, and for forecasting and manipulating demand. It is built around the price–quantity relationship and the many ways in which this relationship is manifested. The different types of demand are shown and the linkage to return on…
Substitute Products
Substitutes are goods or services which are consumed instead of one another. They can be identified by their positive cross‐price elasticity of demand. Two products can be strong or weak substitutes, according to how easy it is to switch between the two. However, substitutability is actually a continuous measure and the distinction between strong and weak substitution is quite arbitrary. Substitution is one of Porter's original five forces and ha…
Complementary Products
Complementary products or services are utilized in combination with one another. Typically, a complementary good has limited significance when used alone but, when used with its complementary products, its overall utility increases. Examples of complements are cars and tiers, tablets and applications, printers and ink cartridges. Complementary products can be a significant part of a company's product portfolio with important implications for comp…
Externalities
The price mechanism ideally allocates resources to their most valued and efficient use. But if the private cost of products diverges from the full costs, then resources are misapplied and there can be corresponding over or underproduction of the relevant goods. The forces behind this are called external costs, externalities for short. There are various types of externality with different consequences and differing solutions.
Competitive Advantage
In theory, competitive advantage is “the delivering of superior value to customers and, in doing so, earning an above average return for the company and its stakeholders.” There is a discussion of the roots of advantage in firm‐specific imperfections and an elaboration of the major routes to achieving advantage. Finally, there is a brief discussion of industry dynamics and advantage.
Focus Strategies
Focus strategies are about serving a particular customer group better than anyone else. They are based on practical variants of cost and differentiation allied to the idea of narrow scope. Focus strategies have distinct attributes and particular characteristics. They require specific skills and face an array of risks and threats. Focus strategies are, however, durable and this evidenced by the proliferation of successful, albeit risky, small busi…
Cross‐Subsidization
Cross‐subsidization refers to using profits earned in one product market to support activities in another. There are three main types of cross‐subsidization with preconditions for their use and implications for strategy.
Cognitive Map
Cognitive maps can be defined as mental images and concepts that are built to visualize and assimilate information. Visualization, the act of organizing information in visual spaces, is applied to both spatial tasks (such as design) and nonspatial tasks (such as strategic planning). Memorizing speeches often requires cognitive mapping of the subject. Cognitive maps are also referred to as mental maps, mind maps, schemata, and frames of reference.…
Downsizing
Downsizing refers to a head count reduction which usually occurs as a result of attempts to achieve radical shifts in productivity in the face of declining or slowing sales. It is used usually to indicate significant changes in numbers and consequently has important social as well as economic effects. Downsizing can be part of a continuous process of “rightsizing” and can therefore have clear strategic justification. However, extreme downsizing p…
Replacement Demand
By definition durable goods are not completely consumed at the time of their purchase; they yield a stream of services over time. The sale of durables can be seen as replacing that part of the existing stock of durables that has worn out (i.e., replacement demand) and that is really new (i.e., an expansion of demand). The most important factor determining replacement demand is the rate of obsolescence that determines prices in second‐hand markets…
Deconstruction and Reconstruction
Disintermediation is a well known phenomenon by which the proprietary links within firms that hold together the value chain give way to the coordination mechanisms of marketplaces – thus, outsourcing takes place. When this replacement of internal activities ceases to be piecemeal and becomes systematic, then we have deconstruction . This arises from developments in knowledge such that the conventional tacit knowledge that binds organizations toge…
Network Externalities
Network externalities are defined as the increasing utility that a user derives from consumption of a product as the number of other users who consume the same product increases. Network externalities are the new drivers of the network economy. The exponential adoption of a network service, driven by network externalities, is evident in the rapid rise of peer‐to‐peer networks in three main categories: social networks, e‐marketplaces, and informat…
Markets and Imperfections
Market imperfections are those elements in a market that interfere with perfect competition. Some imperfections are generic and apply to the whole market resulting in nonperfect markets and the opportunity for monopolistic behavior. Firm‐specific imperfections are the foundation elements for strategy because they provide the foundations for being different from other firms, that is, competitive advantage.
Strategizing Routines
Strategizing routines are the natural ways by which an organization carries out its strategic thinking, strategic planning, and the execution of strategic actions. The idea stems from Nelson and Winter's seminal paper on the evolutionary theory of the firm in which they identify two different kinds of routines, organizational and strategizing, and routine‐changing processes which they call governance. Research has emphasized the role of experient…
Case Study
Case studies involve the documented history and comprehensive analysis of a situation concerning subjects such as industries, organizations, and markets. The distinguishing factor of the case‐study methodology is that it aims to bring out unique characteristics and interesting differences in the situation under observation. The case‐study approach is typically used for idiographic research, which means it focuses on atypical circumstances and dis…
Economies of Substitution
Economies of substitution exist when the cost of designing a higher performance system through the partial retention of existing components is lower than the cost of designing the system afresh. This substitution effect arises from two causes. Modularity in design allows new components to be integrated into existing systems if components conform to standardized interface specifications. System upgradeability can take place if there are unused tec…
Strategic Intent
Strategic intent is the provision of a powerful long‐term direction with particular emphasis on moving beyond the constraints imposed by current resources and capabilities. There is therefore a requirement to develop new resources, capabilities, and core competences and this gap between ambition and resources is called strategic stretch.
Demand Analysis in Theory
The theory of markets and the nature of demand underpin any firm's understanding of its customers. The key concepts shown here are the market‐level and firm‐level demand curves, and price and income elasticities and their determinants.
GPS Tracking of Travel Routes of Wanderers and Planners
Some of the most basic but vital data on recreation and travel behavior at tourism destinations consists of the places people visit, their travel routes, and the amount of time spent at each location. Despite that travel patterns are a fundamental aspect of the tourism phenomenon, little attention has been given to spatial and temporal tourist behaviors. Furthermore, although tourist typologies have identified some differences in visitor behavior…
Serendipity and Independent Travel
The independent travel market is not homogeneous. As smartphones and mobile navigation devices became ubiquitous, independent travellers are now allowed to explore the destination without making detailed plans. The purpose of this study is to explore tourists' preferences for the level of structure vs serendipity in their travel experience, and investigate how different styles of independent travel relate to other tourist behaviour. Findings show…
Strategic Groups: Theory and Practice
GPS Tracking of Travel Routes of Wanderers and Planners
Some of the most basic but vital data on recreation and travel behavior at tourism destinations consists of the places people visit, their travel routes, and the amount of time spent at each location. Despite that travel patterns are a fundamental aspect of the tourism phenomenon, little attention has been given to spatial and temporal tourist behaviors. Furthermore, although tourist typologies have identified some differences in visitor behavior…
Serendipity and Independent Travel
The independent travel market is not homogeneous. As smartphones and mobile navigation devices became ubiquitous, independent travellers are now allowed to explore the destination without making detailed plans. The purpose of this study is to explore tourists' preferences for the level of structure vs serendipity in their travel experience, and investigate how different styles of independent travel relate to other tourist behaviour. Findings show…
Piloted by Desire: The Nautical Theme in Romeo and Juliet
This article examines the nautical motif in Shakespeare's Romeo and Juliet, offering a more comprehensive examination of this theme than has been attempted to date. Its main contention is that Romeo is piloted throughout by the god Cupid, and it discusses the significance of this in light of a common Elizabethan conceit of Cupid as a suicidal ship's pilot. The essay examines in some detail how Shakespeare develops the nautical motif relative to h…
Break‐Even Analysis
Break‐even analysis is a simple attempt to estimate the volume point at which a firm can break‐even (earn no profits but make no losses) on a product, a product line, on a factory, or even across a whole business. It is based simplifying assumptions that some costs are fixed with respect to volume and others are variable and that prices are constant.
Economies of Scale
Economies of scale are introduced in Cost Analysis.
Competitive Market Theory
This is an explanation of how industrial organization, which deals with the behavior of markets, is turned toward the profit‐seeking activity of firms. This provides the backdrop of the various types of competitive market within which firms exist and lead to an identification of key economic concepts for them.
Frugal Innovation
Frugal innovation can be defined as the practice of simplifying product components and manufacturing processes into basic elements, in order to redesign both the product and the processes to become more efficient and cost effective. The economic relevance of frugal innovation is the creation of low‐cost mass market products that are affordable to all social strata including the less affluent segments. As the price of a frugal product is low, the …
Barriers to Entry and Exit
Barriers to entry should technically be regarded as entry deterrent conditions. There are three broad categories of activities that deter entry; namely, structural obstacles to entry, risks of entry, and reduction of the incentive for entry. Barriers to exit are the activities and circumstances that commit a firm to its industry and its position within it. Discussion includes types of entry conditions and risks of entry.
Economic Concepts for Strategy
Microeconomic analysis introduces us to four key features of the market “context” in which these rival firms sell their products. The supply side of the market tells us how costs arise and from which we can observe the phenomenon of cost advantage. The demand side of the market tells us how value is perceived and paid for by customers and from which we can observe the nature of differentiation advantage. Analysis of markets and competition tells …
Strategic Renewal
Strategic renewal is the process of change and the outcome of adjustment in strategic direction that have the potential to determine the long‐term competitivity of a firm. The objective of strategic renewal is to provide a strategic fit between a firm's internal capabilities and shift in the external environment involving technology, markets, industries, and the economy that require a change in the status quo of conducting business. There are two…
Demand Analysis in Practice
Demand analysis is important in two ways: (i) it provides a framework for analyzing price and other influences on the sales of the firm's products and (ii) it provides a baseline for pricing products, and marketing generally, and for forecasting and manipulating demand. It is built around the price–quantity relationship and the many ways in which this relationship is manifested. The different types of demand are shown and the linkage to return on…
Substitute Products
Substitutes are goods or services which are consumed instead of one another. They can be identified by their positive cross‐price elasticity of demand. Two products can be strong or weak substitutes, according to how easy it is to switch between the two. However, substitutability is actually a continuous measure and the distinction between strong and weak substitution is quite arbitrary. Substitution is one of Porter's original five forces and ha…
Complementary Products
Complementary products or services are utilized in combination with one another. Typically, a complementary good has limited significance when used alone but, when used with its complementary products, its overall utility increases. Examples of complements are cars and tiers, tablets and applications, printers and ink cartridges. Complementary products can be a significant part of a company's product portfolio with important implications for comp…
Externalities
The price mechanism ideally allocates resources to their most valued and efficient use. But if the private cost of products diverges from the full costs, then resources are misapplied and there can be corresponding over or underproduction of the relevant goods. The forces behind this are called external costs, externalities for short. There are various types of externality with different consequences and differing solutions.
Competitive Advantage
In theory, competitive advantage is “the delivering of superior value to customers and, in doing so, earning an above average return for the company and its stakeholders.” There is a discussion of the roots of advantage in firm‐specific imperfections and an elaboration of the major routes to achieving advantage. Finally, there is a brief discussion of industry dynamics and advantage.
Focus Strategies
Focus strategies are about serving a particular customer group better than anyone else. They are based on practical variants of cost and differentiation allied to the idea of narrow scope. Focus strategies have distinct attributes and particular characteristics. They require specific skills and face an array of risks and threats. Focus strategies are, however, durable and this evidenced by the proliferation of successful, albeit risky, small busi…
Cross‐Subsidization
Cross‐subsidization refers to using profits earned in one product market to support activities in another. There are three main types of cross‐subsidization with preconditions for their use and implications for strategy.
Cognitive Map
Cognitive maps can be defined as mental images and concepts that are built to visualize and assimilate information. Visualization, the act of organizing information in visual spaces, is applied to both spatial tasks (such as design) and nonspatial tasks (such as strategic planning). Memorizing speeches often requires cognitive mapping of the subject. Cognitive maps are also referred to as mental maps, mind maps, schemata, and frames of reference.…
Downsizing
Downsizing refers to a head count reduction which usually occurs as a result of attempts to achieve radical shifts in productivity in the face of declining or slowing sales. It is used usually to indicate significant changes in numbers and consequently has important social as well as economic effects. Downsizing can be part of a continuous process of “rightsizing” and can therefore have clear strategic justification. However, extreme downsizing p…
Replacement Demand
By definition durable goods are not completely consumed at the time of their purchase; they yield a stream of services over time. The sale of durables can be seen as replacing that part of the existing stock of durables that has worn out (i.e., replacement demand) and that is really new (i.e., an expansion of demand). The most important factor determining replacement demand is the rate of obsolescence that determines prices in second‐hand markets…
Deconstruction and Reconstruction
Disintermediation is a well known phenomenon by which the proprietary links within firms that hold together the value chain give way to the coordination mechanisms of marketplaces – thus, outsourcing takes place. When this replacement of internal activities ceases to be piecemeal and becomes systematic, then we have deconstruction . This arises from developments in knowledge such that the conventional tacit knowledge that binds organizations toge…
Network Externalities
Network externalities are defined as the increasing utility that a user derives from consumption of a product as the number of other users who consume the same product increases. Network externalities are the new drivers of the network economy. The exponential adoption of a network service, driven by network externalities, is evident in the rapid rise of peer‐to‐peer networks in three main categories: social networks, e‐marketplaces, and informat…
Markets and Imperfections
Market imperfections are those elements in a market that interfere with perfect competition. Some imperfections are generic and apply to the whole market resulting in nonperfect markets and the opportunity for monopolistic behavior. Firm‐specific imperfections are the foundation elements for strategy because they provide the foundations for being different from other firms, that is, competitive advantage.
Strategizing Routines
Strategizing routines are the natural ways by which an organization carries out its strategic thinking, strategic planning, and the execution of strategic actions. The idea stems from Nelson and Winter's seminal paper on the evolutionary theory of the firm in which they identify two different kinds of routines, organizational and strategizing, and routine‐changing processes which they call governance. Research has emphasized the role of experient…
Business (42 works) · Computer Science (37 works) · Economics (35 works) · Industrial organization (28 works) · Marketing (23 works) · Microeconomics (20 works) · Business Strategy and Innovation (11 works) · Engineering (11 works) · Mathematics (11 works) · Digital Platforms and Economics (10 works)