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Media Business Venturing Media Business Venturing Business Media a Study on the Choice of Organizational Mode Media Business Venturing MIN HANG MIN HANG MIN HANG Media Business Venturing Media Business Venturing A Study on the Choice of Organizational Mode Media Business Venturing A Study on the Choice of Organizational Mode In a dynamic environment characterized by constant technological advancement, new business opportunities appear in a variety of forms in the media industries. While venturing for these emerging opportunities, media firms are confronted with challenges such how to organize venturing and why to choose a certain organizational mode for the development of new business. Both the IO and RBV give valuable implications to the choice of venturing organizational mode. However, in some circumstances, explanations derived from these two theories may conflict with each other rather than harmonizing. Therefore, how to understand the different interpretations given by the two theories and what is the relationship between the traditional economics theories and the more recent resource-based theories in the specific context of new media business venturing are the central issues in this research. To answer such questions, a case study strategy was adopted, and eight new media venturing cases were investigated within six media companies. Findings from empirical study indicated that certain ‘economics & resource conditions’ associated with the venturing initiatives influenced the new media venturing organizational modes, and the dynamics of venturing organizational modes were also affected by changes in venturing incentives. In addition, a number of macro-environmental, media industrial, market and firm specific factors had particular impacts on new media development, which constitute industry- specific characteristics of media corporate venturing. JIBS Dissertation Series No. 044 JIBS Dissertation Series No. JIBS Dissertation Series ISSN 1403-0470 ISBN 91-89164-81-4 No. 044 MIN HANG MIN HANG MIN HANG Media Business Venturing Media Business Venturing A Study on the Choice of Organizational Mode Media Business Venturing A Study on the Choice of Organizational Mode In a dynamic environment characterized by constant technological advancement, new business opportunities appear in a variety of forms in the media industries. While venturing for these emerging opportunities, media firms are confronted with challenges such how to organize venturing and why to choose a certain organizational mode for the development of new business. Both the IO and RBV give valuable implications to the choice of venturing organizational mode. However, in some circumstances, explanations derived from these two theories may conflict with each other rather than harmonizing. Therefore, how to understand the different interpretations given by the two theories and what is the relationship between the traditional economics theories and the more recent resource-based theories in the specific context of new media business venturing are the central issues in this research. To answer such questions, a case study strategy was adopted, and eight new media venturing cases were investigated within six media companies. Findings from empirical study indicated that certain ‘economics & resource conditions’ associated with the venturing initiatives influenced the new media venturing organizational modes, and the dynamics of venturing organizational modes were also affected by changes in venturing incentives. In addition, a number of macro-environmental, media industrial, market and firm specific factors had particular impacts on new media development, which constitute industry- specific characteristics of media corporate venturing. JIBS Dissertation Series No. 044 JIBS Dissertation Series No. JIBS Dissertation Series ISSN 1403-0470 ISBN 91-89164-81-4 No. 044 MIN HANG Media Business Venturing A Study on the Choice of Organizational Mode Jönköping International Business School P.O. Box 1026 SE-551 11 Jönköping Tel.: +46 36 10 10 00 E-mail: [email protected] www.jibs.se Media Business Venturing: A Study on the Choice of Organizational Mode JIBS Dissertation Series No. 044 Financed by and written within the Media Management and Transformation Centre at Jönköping International Business School © 2007 Min Hang and Jönköping International Business School ISSN 1403-0470 ISBN 91-89164-81-4 Printed by ARK Tryckaren AB, 2007 ii 谨以此书献给我的父母、应平及我们的小瑞瑞 To my parents, Yingping and Ruirui iii Acknowledgement As a Chinese, I believe in “Yuan”, which connotes destiny and serendipity. “Yuan” took me across the ocean six years ago and opened a new window of opportunity for me in Sweden to pursue my doctoral studies in Media Management in Jönköping. In pursuing the doctoral degree, I have received tremendous support form many people. It is with great pleasure that I now have the chance to express my sincere gratitude to all of them. My greatest appreciation goes to my main supervisor, Prof. Robert Picard, who guided me with enormous expertise and inspired me with patience. Robert gave me great impetus to associate with media studies, and he continuously gave me courage and confidence to overcome hard times along the way. His influence will leave a lasting mark on me, and I respect him as a lifetime tutor. I am also very grateful to my second supervisor, Associate Professor Mike Danilovic who helped me with my teaching obligations when I started. After he was invited to be a supervisor, Mike generously spent time with me, stimulating suggestions, discussing key issues and inspiring me to find solutions. Prof. Rolf Rundin also kindly shared his time and counsel with me for my research, lending me support and giving me insight into a variety of important issues. Rolf encouraged me to challenge and to question, turning me into a much mature researcher. Prof. Karl-Erik Gustafsson has been always available to discuss with me my research and to share his experiences and knowledge. He is a true gentleman, who conveys his gracious values to young researchers with his attitude towards work and life. My debt of gratitude can hardly be repaid to my good friend Cinzia Dal Zotto, who has given me tremendous care and support. We spent many after-work nights and weekends together. For the dissertation work, Cinzia helped me with the research proposal, provided substantive suggestions to build my analysis, improved my presentation and clarified my arguments. Also, I want to extend my gratitude to my doctoral student colleagues: Aldo Van Weezel for our never-ending discussions and arguments, who I now miss since he moved back to Chile with his family; Maria Norbäck and Mart Ots who enriched me with their comments and encouragement since the start; Leon Barkho, Edward Humphreys, Elena Raviola and Anette Johansson who were often helpful giving me their opinions and adding more insights to my work. v My doctoral studies would not have been the same without the social and academic challenges and diversions provided by my student colleagues. I owe a great amount of thanks to the faculty and staff of EMM who assisted and encouraged me in various ways during my course studies and dissertation work. Special thanks to Prof. Johan Wiklund for his valuable comments on the early version of the dissertation; to Prof. Tomas Müllern for help me with a better understanding on methodology; and to Prof. Helén Anderson and Associate Professor Ethel Brundin for inspiring me with new knowledge. The effort exerted by many people and their goodwill have made the completion of this dissertation possible. Associate Professor Lucy Küng kindly helped me to review and to strengthen the theoretical part of the dissertation. Associate professor Leona Achtenhagen gave me valuable comments at different stages and she provided significant suggestions on how to improve the dissertation against possible critical remarks. I would also like to give my sincere appreciation to Prof. Hans von Kranenburg, who acted as the discussant for my final seminar. I am grateful for his timely and generous help and constructive inputs to improve my work. During my stay in the CITI, Columbia University last year, I received warm welcome and valuable information. I am very grateful to Professor Eli Noam and his staff, for their hospitality and for generously sharing with me their knowledge into cutting-edge media management issues. I am also thankful for their help with access to major media companies for interviews. In addition, I wish to express my gratitude to Prof. Everette Dennis, Prof. John Pavlik and Prof. John Carey for their enlightening conversations during my visit to the U.S. Furthermore, I would like to thank all the informants in my empirical study for their valuable input. My research and study would not have been possible to carry out without the generous support from the Hamrin family. I gratefully acknowledge their kind support not only financially, but also emotionally. Actually, Christina and Stig’s Crayfish parties have been one of the most unforgettable parts of the lovely memories of Jönköping. I owe a great deal of special thanks to Barbara Eklöf. As a responsible administrator and a most truthful friend, Barbara has been always a steady source of encouragement during the dissertation process. Her sincere concern on a daily basis is an irreplaceable value. All dissertation writers suffer highs and lows; she made the highs higher and the lows bearable. vi I also wish to extend my thanks to Danielle Tärnhamn for kindly checking the interview transcripts and different versions of the manuscript. Meanwhile, I would express my gratitude to Leon Barkho for his professional help with my language editing. Of course, thanks are extended to Susanne Hansson who was the first person I spoke to from Jönköping. On a sunny afternoon four years ago, she opened a new window when I got an unexpected and exciting call from her; and since then, her kindness and thoughtful care have always been with me. Finally, I would like to give my appreciation to my parents. They descend from a great generation, who have worked extremely hard to provide a better future for their children. Every smile on their faces is there for the sake of their children’s happiness.
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