Building an International Financial Services Firm: How Successful Firms Design and Execute Cross-Border Strategies

by Markus Venzin

Overview

A new era of global banking and insurance is emerging, with leading banks eager to serve international markets. This book explores the issues that arise for banks in their strategic choices as they move into these new international markets.

Building an International Financial Services Firm challenges conventional assumptions from the international management literature on topics such as the limits of globalization, the importance of cultural and institutional distance, the nature of economies of scale and scope, the existence of first mover advantages, the logic behind the global value chain configuration, the speed and timing of market entry, as well as organizational architecture. It focuses on fundamental strategic decisions such as when, where, and how to enter foreign markets and how to design the organizational architecture of the multinational financial services firm.

Using simple theoretical frameworks illustrated by case examples, this book provides a thorough guide to the challenges of the international market for financial services firms, both for those working in the financial services industry, and researchers studying the area.

Product Details

ISBN-13:	9780199535200
Publisher:	Oxford University Press
Publication date:	03/25/2009
Pages:	386
Product dimensions:	6.50(w) x 9.30(h) x 3.60(d)

About the Author

Markus Venzin is Associate Professor at the Strategic Management Department of Bocconi University, Senior Lecturer at SDA Bocconi and Full Professor for Strategic Management at Steinbeis University in Berlin. He is studying the internationalization strategies (including cross-border M&A) of firms, the management of their subsidiary network, global knowledge management systems, and the development of formal planning and control processes. His current research interest include topics such as the study of internationalization processes of retail banks, innovation and cross-border commercialization of financial service products and the logic and process of cross-border mergers and acquisitions of banks. Markus Venzin is the Director of the Master of Science Program in International Management and the Bocconi Senior Executive Program for the Financial Services Industry.

Table of Contents

IntroductionPart I: Multinationality and Competitiveness1. The Modern Financial Services Firm2. Profit Impact of InternationalizationPart II: Strategic Decision Making3. The Nature of Strategic Decisions4. Why Go Abroad? The Managerial Rationale of Cross-border Moves5. Where to Compete? The Logic behind Market Selection6. When to Enter? The Timing and Speed of Market Entry7. How to Enter? The Choice of the Market Entry Mode8. How to Compete? The Development of Business-level Strategies9. How to Orchestrate Business Processes? The Creation of Global Functional StrategiesPart III: Strategy Execution10. International Organizational Architectures11. Facilitating International Knowledge Transfer12. International Corporate Entrepreneurship13. Cultural IntegrationEpilogue: Designing an International Strategic Context