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This empirical study suggests that Japanese competitive advantage in complex-product industries is at least partly due to differences in value chain governance and interfirm asset co-specialization. Comparative data are offered which indicate that U.S. firms rely largely on markets and hierarchies to facilitate exchange, whereas Japanese firms rely largely on "hybrid" governance or alliances. The empirical findings suggest that Japanese automotive firms (value chains) have been able to achieve a competitive advantage over their U.S. counterparts by effectively using hybrid/alliance governance for three primary reasons: (1) Japanese automotive value chains are characterized by greater interfirm asset co-specialization than U.S. chains. In particular, greater human asset co-specialization between firms results in superior coordination, information sharing, and learning which is critical in complex-product industries, (2) hybrids/alliances as employed by Japanese automakers realize virtually all of the advantages of hierarchy (e.g., asset co-specialization) without the disadvantages (e.g., loss of market discipline, loss of flexibility, higher labor costs), and (3) Japanese automotive value chains incur lower transaction costs than U.S. value chains. Thus, alliances, as structured in Japan, simultaneously realize the benefits of decentralization and competition without sacrificing economies of scale, coordination, or co-specialization of assets. These findings support transaction cost theories which suggest that effectively aligning governance structures with transactions will result in efficiency advantages. However, inconsistent with extant transaction cost theory, findings from this study suggest that: (1) hybrid governance may be more efficient than hierarchical governance under conditions of uncertainty, and (2) transaction costs do not necessarily increase with an increase in asset specificity.

In this paper we investigate the relationship between supplier trust in the buyer and transaction costs and information sharing in a sample of 344 supplier-automaker exchange relationships in the United States, Japan, and Korea. Our findings indicate that perceived trustworthiness reduces transaction costs and is correlated with greater information sharing in supplier-buyer relationships. Moreover, the findings suggest that the value created for transactors, in terms of lower transaction costs, may be substantial. In particular, we found that the least-trusted automaker spent significantly more of its face-to-face interaction time with suppliers on contracting and haggling when compared to the most trusted automaker. This translated into procurement (transaction) costs that were five times higher for the least trusted automaker. Finally, we argue that trust is unique as a governance mechanism because it not only minimizes transaction costs, but also has a mutually causal relationship with information sharing, which also creates value in the exchange relationship. Other governance mechanisms (e.g., contracts, financial hostages) are necessary costs incurred to prevent opportunistic behavior, but do not create value beyond transaction cost minimization. Our findings provide empirical evidence that trustworthiness lowers transaction costs and may be an important source of competitive advantage.

The 5cs of team performance -- Context : the foundation of team effectiveness -- Composition : putting the right people on the team -- Competencies : team skills that are needed for high performance -- Change management: how effective teams improve their performance -- Collaborative leadership: the role of the team leader -- Designing effective team building programs -- Specific team building interventions to manage address team problems -- Team building in temporary, cross-cultural and virtual teams -- Team building in alliance, entrepreneurial and family teams -- Creating a team building organization.

Innovation capital -- Who you are (and what you can do to improve) -- Who you know (and who to focus on) -- What you are known for (and ways to become known) -- Impression amplifiers: broadcasting, signaling -- Storytelling -- Impression amplifiers: materializing, comparing -- Committing, FOMO -- Innovation leadership: the virtuous innovation -- Leadership cycle -- Building organization-level innovation capital.

A new classic, cited by leaders and media around the globe as a highly recommended read for anyone interested in innovation. In this bestselling book, authors Jeff Dyer (Innovation Capital and The Innovator's Method), Hal Gregersen (Questions Are the Answer), and Clayton M. Christensen (The Innovator's Dilemma, The Innovator's Solution, and How Will You Measure Your Life?) build on what we know about disruptive innovation to show how individuals can develop the skills necessary to move progressively fOnce you know the behaviors and skills of successful innovators, Dyer, Gregersen, and Christensen explain how you can use them to generate ideas, collaborate with colleagues to implement them, and build innovation skills throughout your organization to sharpen its competitive edge. This innovation advantage will translate into a premium in your company's stock price--an innovation premium--which is possible only by building the code for innovation right into your organization's people, processes, and guiding philosophies. This book shows you how. Now updated with a new introduction and fresh examples, The Innovator's DNA is the essential resource for individuals and teams who want to strengthen their innovative prowess.rom idea to impact.--

Provides the knowledge and skills needed to create effective and high-functioning teams using the Four Cs framework: Context, Composition, Competencies, and Change. Also covers cross-cultural teams within the organization and leading innovation teams in today's changing environments.