12 Nov 2012
Mochtar Riady building, Room #6-4
NUS Business School
National University of Singapore
15 Kent Ridge Drive Singapore 119245
About the speaker
Bruce Kogut is the Sanford C. Bernstein & Co.Professor of Leadership and Ethics and Director of the Sanford C. Bernstein Center for Leadership and Ethics at Columbia Business School. He teaches the core courses in strategy and in governance and an elective on "The Future of Finance" for the MBAs and EMBA and has taught in executive programme(s) inthe US, Europe, and China. His current research focuses on governance and corporate compensation, social capital markets and social metrics, and the'political color of boards'. He is a member of the academic advisory board to the chief economist of the European Bank for Reconstruction and Development andis a director in corporate and academic boards in Europe and India. He received his PhD from the MIT Sloan School of Management and holds an honorary doctorate from the Stockholm School of Economics. His most recent book is The Small Worlds of Corporate Governance, published by MIT Press in 2012. Read his full bio here .
Competition and Complementsin Autos with Implications for Microfinance
We explore whether the convergence in performance of economic organizations implies a convergence in practices, emphasizing that the adoption of better management practices is influenced by multiple bundles of complementary practices that define a few discrete prototypes. The non-monotonicity of management practices driving performance implies that the ‘one best way’ is not assured as an outcome; two or more distinct bundles, or management systems,might be viable. We test for multiple bundles in the global automotive industry, where we identify competition between mass production and Toyota(i.e. lean or flexible production) prototypes and assess the determinants of change in assembly plant productivity from 1989-2000 in a sample of 24 matched plants from 12 countries and 12 companies. We find convergence in productivity over time but divergent prototypes, including both Toyota-related and“efficient mass production” configurations, driven by complementarities that differed by strategic context and proximity to existing capabilities.