Revealing Integrated Product and Geographical Diversification Trajectories in Multinational Pharmaceutical Enterprises
Revealing Integrated Product and Geographical Diversification Trajectories in Multinational Pharmaceutical Enterprises
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DOI：
10.3390/businesses3020016
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发表时间：
2023-04
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影响因子：
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通讯作者：
Ranjita Gupta;Maya Gianchandani;Cristian Mejía;Y. Gianchandani;Y. Kajikawa
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文献类型：
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作者：
Ranjita Gupta;Maya Gianchandani;Cristian Mejía;Y. Gianchandani;Y. Kajikawa
跨国企业定期决定推出（或淘汰）哪些产品以及在全球哪些地区推出，从而在多元化战略中进行综合产品-国家考虑。随着时间的推移，这些多样化决策可能会对结构产生累积影响。多元化文献主要集中在这两个指标之一，而不是提供一个综合的观点，这项工作调查这两个指标。考虑到交易作为战略的执行工具，比较跨国公司的历史交易与其目前的结构提供了深入了解所追求的多元化战略的性质。对于最活跃的全球交易决策制药公司，我们得出标准化的交易多样性配置文件的指标，其累积过去的产品国家的偏好，并将其与产品国家的业务，其目前的子公司。我们将跨国企业交易行为合理化，作为剥离、收购和整合业务的手段，以实现其市场领导地位的愿望。分析揭示了在交易中受到积极青睐的两种轨迹：一种是针对全球提供的利基产品，另一种是针对特定国家的利基产品。前者的特点是在许多国家进行交易，而后者的特点是有两个明显不同的产品集中程度。相比之下，针对广泛多样产品的轨迹在交易中不受欢迎。了解这些方向及其步伐可以帮助制定全球或集团层面的战略，监控战略执行，解释竞争对手的行动和设计区域政策。
Multinational Enterprises (MNEs) periodically decide on both which products to launch (or phase out) and in which global regions, thereby conducting an integrated products-countries consideration in diversification strategies. Over time, these diversification decisions can have a cumulative impact on the structure. Diversification literature has primarily focused on one of these two metrics rather than providing an integrated view; this work investigates both metrics. Considering deal-making as an execution instrument of strategies, a comparison of historic deals of MNEs with their current structure offers insights into the nature of the diversification strategies that were pursued. For the most active global deal-making pharmaceutical firms, we derive normalized deal diversity profile metrics in terms of their cumulative past product-countries’ preferences and compare them with the product-countries’ operations of their current subsidiaries. We rationalize MNE deal behaviors as means to shed, acquire and consolidate businesses to enable their market leadership aspirations. The analysis reveals two trajectories that have been actively favored in deals: one directed at niche products offered globally, and one directed at niche products in selected countries. The former is characterized by deals in a high number of countries, whereas the latter by two identifiably different product concentration levels. In contrast, trajectories directed at widely diverse products have been disfavored in deals. Understanding such directions and their pace can aid in global- or group-level strategy formulation, monitoring strategy execution, interpreting competitor moves and designing regional policies.