“The firm-as-portfolio model implies both a practice (growth through diversification) and a form (the conglomerate). Unrelated diversification entails buying businesses in industries that are neither potential buyers, suppliers, competitors, or complements to the firm’s current business.”

Source: The transformation of corporate control, 1993, p. 229

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Neil Fligstein40

American sociologist 1951

Constantinos C. Markides (1960) Cypriot business theorist

Source: "Related diversification, core competences and corporate performance", 1994, p. 149

“[ Diversification strategy is] a firm’s commitment to diversity per se, together with the strengths, skills or purposes that span this diversity, shown by the way in which business activities are related one to another.”

Richard Rumelt (1942) American economist

Source: Strategy, structure, and economic performance. (1974), p. 29

“A leading firm that controlled a large portion of the output of a given organizational field operated as a price setter. To set prices, the actors in that firm had to control their suppliers and marketing in order to increase their own efficiency and have the potential to cut off other firms from supplies or customers.”

Neil Fligstein (1951) American sociologist

Source: The transformation of corporate control, 1993, p. 89

“We define CSR as a firm's voluntary consideration of stakeholder concerns both within and outside its business operations.”

Christian Homburg (1962) German academic

Source: "Corporate social responsibility in business-to-business markets", 2013, p. 54

“The firm achieving focus may also potentially earn above-average returns for its industry. Its focus means that the firm either has a low cost position with its strategic target, high differentiation, or both.”

Michael E. Porter (1947) American engineer and economist

Source: Competitive strategy, 1980, p. 39

“The strategy we've adopted precludes our following standard diversification dogma. Many pundits would therefore say the strategy must be riskier than that employed by more conventional investors. We disagree. We believe that a policy of portfolio concentration may well decrease risk if it raises, as it should, both the intensity with which an investor thinks about a business and the comfort-level he must feel with its economic characteristics before buying into it. In stating this opinion, we define risk, using dictionary terms, as "the possibility of loss or injury."”

Warren Buffett (1930) American business magnate, investor, and philanthropist

1993 Chairman's Letter http://www.berkshirehathaway.com/letters/1993.html <br class="br">Letters to Shareholders (1957 - 2012)

“The major reasons for diversification were by this time well established : to employ excess plant capacity, to eliminate seasonal humps, to guard against dependency on one industry, to enter new expanding industries, to supplement existing product lines, to use old products to create new product, and to secure a larger share of business in general.”

Neil Fligstein (1951) American sociologist

Source: The transformation of corporate control, 1993, p. 128

“Despite the high relevance of, the authors develop and empirically test a framework of the influence of a supplier's CSR engagement on organizational customer outcomes. Findings from an examination of 200 cross-industry supplier-customer dyads reveal positive effects of two facets of a supplier's CSR efforts on customer loyalty through distinct mechanisms. Business practice GSR fosters customers' trust, whereas philanthropic CSR strengthens customer-company identification. The authors distinguish a supplier's actual GSR engagement and customers' perception of these GSR activities. In addition, they consider central contingency factors reflecting uncertainty and dependence in business-to-business relationships that determine the effectiveness of GSR.”

Christian Homburg (1962) German academic

Source: "Corporate social responsibility in business-to-business markets", 2013, p. 54; Article abstract

“Innovative e-business projects start with a design of the e-business model. We often encounter the view, in research as well as industry practice, that an e-business model is similar to a business process model, and so can be specified using UML activity diagrams or Petri nets. In this paper, we explain why this is a misunderstanding. The root cause is that a business model is not about process but about value exchanged between actors. Failure to make this separation of concerns leads to poor business decision-making and inadequate business requirements.”

Hans van Vliet (1949) Dutch computer scientist

Jaap Gordijn, Hans Akkermans, and Hans Van Vliet. "Business modelling is not process modelling." International Conference on Conceptual Modeling. Springer Berlin Heidelberg, 2000. Abstract

“The key argument is that managers and owners in firms search for stable patterns of interaction with their largest competitors. Once stable patterns prove to be both legal and profitable, firms set up organizational fields that tend to produce and reproduce those patterns.”

Neil Fligstein (1951) American sociologist

Source: The architecture of markets, 2001, p. 155

“The firm-as-portfolio model implies both a practice (growth through diversification) and a form (the conglomerate). Unrelated diversification entails buying businesses in industries that are neither potential buyers, suppliers, competitors, or complements to the firm’s current business.”

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Neil Fligstein40

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