My research interests lie at the intersection of international business, and strategic management. My work has explored the geographical reach of multinationals, reconfiguration of subsidiary networks, and the international expansion of retail firms. My current work focuses on exec-level decision making around internationalisation, utilising a cognitive lens and behavioural strategy frameworks. I am also involved in a long-term project looking at the emergence and development of female international entrepreneurship out of Australia.
I also dabble in economic/business history, specifically with regard to employment practices.
And in the early 2000s I was part of a large research team developing diversity management business models and tools.
I received my PhD from the University of Melbourne. I also have a Bachelor of Commerce (Honours) from Melbourne.
Focus and diversification – the opposite sides of the strategy coin. As growth and profitability ... more Focus and diversification – the opposite sides of the strategy coin. As growth and profitability start to slow, what path should the successful firm take to continue its growth? Or to protect its current level of activity to offset downturns in the particular business cycle? The RI rule suggests that focus and geographical expansion are the key to prolonged success, yet many firms tend to favour diversification as their strategic direction.
RI Rule 7 reflects various arguments for the commonly observed phenomenon of organisations pushin... more RI Rule 7 reflects various arguments for the commonly observed phenomenon of organisations pushing non-core activities out to suppliers. It is surprising to find that the voluminous academic literature on outsourcing pays scant attention to the performance effects of this strategic choice. To gain an insight into the validity of Rule 7, below we provide a brief review of this literature with a focus on the performance implications of outsourcing and the factors driving the relationship.
The RI’s stance on the market share-firm performance relationship differs from that of the academ... more The RI’s stance on the market share-firm performance relationship differs from that of the academic literature. Specifically, RI Rule 5 categorises a firm’s market share as optimal or sub-optimal depending on the interval within which it falls. There are five optimal categories of market share, and firms with such market shares are called major player, niche player, ultra-niche specialist, boutique operator, and exotic operator.
The goal of this review is to provide a summary of the literature on the market share-firm performance relationship and contrast it with the RI’s stance regarding the role of market share in firms’ performance. The collective evidence from this stream of literature suggests that market share has a small positive impact on a firm’s profitability, but this effect is contextual.
This review explores empirical evidence from prior studies that are relevant to
assessing the va... more This review explores empirical evidence from prior studies that are relevant to
assessing the validity of RI Rule 4. Rukes 4 argues, in part, that enterprises need to be innovative to stay in business, expand and be profitable. This requires different types of innovation at different times. ‘Innovation’ refers to the development of, constant improvement in, and commercialisation of intellectual property (IP).
After exploring the various definitions and measures of innovation and innovativeness, we proceed with discussing the evidence regarding the impact of innovation on firm performance and important factors that are likely to affect firms’ propensity to innovate. We conclude the review with a discussion of potentially fruitful avenues for future research.
Purpose This paper argues for the benefits to international business (IB) of taking a much longer... more Purpose This paper argues for the benefits to international business (IB) of taking a much longer view at the engagement by multinational enterprises (MNEs) with host locations. Design/methodology/approach The authors showcase a project tracking the engagement by MNEs with Australia over the past two centuries. Extensive archival work has been undertaken to identify and document modes of entry, home countries, industries, operational modes and company types among the MNEs operating in Australia. The authors also describe the shifting nature of Australia as a host location. Findings The authors demonstrate the historical and ongoing diversity of ways in which MNEs interact with a host. They show that different organisational forms have prevailed over time, and that considerable operational mode changes can best be observed when a long lens is adopted. The authors show how these mode changes interact with host country dynamics, and also the broader context of the MNE and its altering ...
Achieving high rates of return and maximising profitability is typically agreed as the prime (or ... more Achieving high rates of return and maximising profitability is typically agreed as the prime (or at least a key) objective of firms. Yet, any study of firm performance requires a choice about how to measure profitability. A number of performance ratios and metrics are utilised by academics and practitioners. We set out to review and assess these alternatives, in terms of their relative informativeness/usefulness, so as to build a sound methods base for our subsequent empirical works. We conclude that simple ratio measures – Return on Equity (ROE) and Return on Assets (ROA) – appear most robust, practical and effective, with the caveat that removing non-recurring expenses increases their utility considerably. Return on Market Value of Equity is another useful alternative that can be considered when comparing the performance of public companies.
Ruthven Institute Hub, University of Melbourne, 2021
This research note reviews claims that managing the asset mix, particularly reducing the level of... more This research note reviews claims that managing the asset mix, particularly reducing the level of hard asset ownership, will improve a firm's business performance
Ruthven Institute Hub, University of Melbourne, 2021
This research note reviews claims that managing finances wisely will improve a firm's busines... more This research note reviews claims that managing finances wisely will improve a firm's business performance
This chapter appeared in a book looking at outward investment by Australian firms. I argue that A... more This chapter appeared in a book looking at outward investment by Australian firms. I argue that Australia's largest retailers have neglected internationalisation (beyond some incursions into New Zealand) as a growth strategy, chosing instead to diversify across the local retail domain. This choice is partially driven by the relative isolation of the Australian market, and the neglect of this market by large international retailers. The chapter also looks at the experience of four smaller retailers from Australia who have surprisingly large global footprints in niche retail markets.
The expatriate business case for managing diversity is simple: effective diversity management enh... more The expatriate business case for managing diversity is simple: effective diversity management enhances expatriate performance and reduces failure. Diversity management improves the organisation’s bottom line by enabling international business to leverage the cross-cultural capabilities of their human resources. Deep mental models of both the host culture and organisational processes reside within expatriates with a background in the host culture. Such expatriates will require less extensive, and less costly, training compared to those who lack such models. Culturally-adept expatriate managers are superior international performers with special capabilities in partner selection, communications, building personal relations, managing corruption, and negotiating complex institutional environments in transitional economies.
This chapter explores the emergence of independent craft breweries in Australia over three and ha... more This chapter explores the emergence of independent craft breweries in Australia over three and half decades. Three distinct periods of the segment’s evolution are identified. While much of the substantial growth has occurred this decade, with the total number of breweries doubling between 2010 and 2015, the foundations for this escalation were laid by several pioneering companies and individuals through the 1990s and early 2000s. This chapter explores the constraints and drivers of growth, and the rise of diverse business models. Of note also is the distinctive role played by Australia’s macro brewers, who acquired several of the early successful craft entrants, thus confusing the definition of the segment and shaping its prospects.
The Programme for the Practice of Diversity Management was a collaborative arrangement between th... more The Programme for the Practice of Diversity Management was a collaborative arrangement between the Department of Immigration and Multicultural and Indigenous Affairs (DIMIA) and the Australian Centre for International Business (ACIB) funded through DIMIA’s Productive Diversity Partnership Programme. The Programme's mission was to meet the practical needs of business by developing a business case for productive diversity, providing business models for diversity management, and creating toolkits and checklists for assessing diversity. This Business Model summarised the overall business case, particularly within the Australian context.
Focus and diversification – the opposite sides of the strategy coin. As growth and profitability ... more Focus and diversification – the opposite sides of the strategy coin. As growth and profitability start to slow, what path should the successful firm take to continue its growth? Or to protect its current level of activity to offset downturns in the particular business cycle? The RI rule suggests that focus and geographical expansion are the key to prolonged success, yet many firms tend to favour diversification as their strategic direction.
RI Rule 7 reflects various arguments for the commonly observed phenomenon of organisations pushin... more RI Rule 7 reflects various arguments for the commonly observed phenomenon of organisations pushing non-core activities out to suppliers. It is surprising to find that the voluminous academic literature on outsourcing pays scant attention to the performance effects of this strategic choice. To gain an insight into the validity of Rule 7, below we provide a brief review of this literature with a focus on the performance implications of outsourcing and the factors driving the relationship.
The RI’s stance on the market share-firm performance relationship differs from that of the academ... more The RI’s stance on the market share-firm performance relationship differs from that of the academic literature. Specifically, RI Rule 5 categorises a firm’s market share as optimal or sub-optimal depending on the interval within which it falls. There are five optimal categories of market share, and firms with such market shares are called major player, niche player, ultra-niche specialist, boutique operator, and exotic operator.
The goal of this review is to provide a summary of the literature on the market share-firm performance relationship and contrast it with the RI’s stance regarding the role of market share in firms’ performance. The collective evidence from this stream of literature suggests that market share has a small positive impact on a firm’s profitability, but this effect is contextual.
This review explores empirical evidence from prior studies that are relevant to
assessing the va... more This review explores empirical evidence from prior studies that are relevant to
assessing the validity of RI Rule 4. Rukes 4 argues, in part, that enterprises need to be innovative to stay in business, expand and be profitable. This requires different types of innovation at different times. ‘Innovation’ refers to the development of, constant improvement in, and commercialisation of intellectual property (IP).
After exploring the various definitions and measures of innovation and innovativeness, we proceed with discussing the evidence regarding the impact of innovation on firm performance and important factors that are likely to affect firms’ propensity to innovate. We conclude the review with a discussion of potentially fruitful avenues for future research.
Purpose This paper argues for the benefits to international business (IB) of taking a much longer... more Purpose This paper argues for the benefits to international business (IB) of taking a much longer view at the engagement by multinational enterprises (MNEs) with host locations. Design/methodology/approach The authors showcase a project tracking the engagement by MNEs with Australia over the past two centuries. Extensive archival work has been undertaken to identify and document modes of entry, home countries, industries, operational modes and company types among the MNEs operating in Australia. The authors also describe the shifting nature of Australia as a host location. Findings The authors demonstrate the historical and ongoing diversity of ways in which MNEs interact with a host. They show that different organisational forms have prevailed over time, and that considerable operational mode changes can best be observed when a long lens is adopted. The authors show how these mode changes interact with host country dynamics, and also the broader context of the MNE and its altering ...
Achieving high rates of return and maximising profitability is typically agreed as the prime (or ... more Achieving high rates of return and maximising profitability is typically agreed as the prime (or at least a key) objective of firms. Yet, any study of firm performance requires a choice about how to measure profitability. A number of performance ratios and metrics are utilised by academics and practitioners. We set out to review and assess these alternatives, in terms of their relative informativeness/usefulness, so as to build a sound methods base for our subsequent empirical works. We conclude that simple ratio measures – Return on Equity (ROE) and Return on Assets (ROA) – appear most robust, practical and effective, with the caveat that removing non-recurring expenses increases their utility considerably. Return on Market Value of Equity is another useful alternative that can be considered when comparing the performance of public companies.
Ruthven Institute Hub, University of Melbourne, 2021
This research note reviews claims that managing the asset mix, particularly reducing the level of... more This research note reviews claims that managing the asset mix, particularly reducing the level of hard asset ownership, will improve a firm's business performance
Ruthven Institute Hub, University of Melbourne, 2021
This research note reviews claims that managing finances wisely will improve a firm's busines... more This research note reviews claims that managing finances wisely will improve a firm's business performance
This chapter appeared in a book looking at outward investment by Australian firms. I argue that A... more This chapter appeared in a book looking at outward investment by Australian firms. I argue that Australia's largest retailers have neglected internationalisation (beyond some incursions into New Zealand) as a growth strategy, chosing instead to diversify across the local retail domain. This choice is partially driven by the relative isolation of the Australian market, and the neglect of this market by large international retailers. The chapter also looks at the experience of four smaller retailers from Australia who have surprisingly large global footprints in niche retail markets.
The expatriate business case for managing diversity is simple: effective diversity management enh... more The expatriate business case for managing diversity is simple: effective diversity management enhances expatriate performance and reduces failure. Diversity management improves the organisation’s bottom line by enabling international business to leverage the cross-cultural capabilities of their human resources. Deep mental models of both the host culture and organisational processes reside within expatriates with a background in the host culture. Such expatriates will require less extensive, and less costly, training compared to those who lack such models. Culturally-adept expatriate managers are superior international performers with special capabilities in partner selection, communications, building personal relations, managing corruption, and negotiating complex institutional environments in transitional economies.
This chapter explores the emergence of independent craft breweries in Australia over three and ha... more This chapter explores the emergence of independent craft breweries in Australia over three and half decades. Three distinct periods of the segment’s evolution are identified. While much of the substantial growth has occurred this decade, with the total number of breweries doubling between 2010 and 2015, the foundations for this escalation were laid by several pioneering companies and individuals through the 1990s and early 2000s. This chapter explores the constraints and drivers of growth, and the rise of diverse business models. Of note also is the distinctive role played by Australia’s macro brewers, who acquired several of the early successful craft entrants, thus confusing the definition of the segment and shaping its prospects.
The Programme for the Practice of Diversity Management was a collaborative arrangement between th... more The Programme for the Practice of Diversity Management was a collaborative arrangement between the Department of Immigration and Multicultural and Indigenous Affairs (DIMIA) and the Australian Centre for International Business (ACIB) funded through DIMIA’s Productive Diversity Partnership Programme. The Programme's mission was to meet the practical needs of business by developing a business case for productive diversity, providing business models for diversity management, and creating toolkits and checklists for assessing diversity. This Business Model summarised the overall business case, particularly within the Australian context.
This chapter explores the re-emergence and evolution of independent, craft brewing in Australia f... more This chapter explores the re-emergence and evolution of independent, craft brewing in Australia from 1979. While craft brewing is currently booming in Australia, the path to this boom was slow and punctuated. Extensive data are introduced showcasing the entire population of entrants into the craft segment over the period 1979-2015. Three distinct periods are examined with mini-case studies of various path breaking ventures. I draw lessons regarding the nature of entrepreneurial motivations, the interaction of various contextual factors in both eliciting and constraining growth, and demonstrate the diversity of viable business models that have emerged in this vibrant but still small segment of the Australian beer market.
Forthcoming chapter in C. Garavaglia & J. Swinnen (eds), "Microbreweries: The Counterrevolution in the Global Beer Market", Palgrave Macmillan
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Papers by Andre Sammartino
The goal of this review is to provide a summary of the literature on the market share-firm performance relationship and contrast it with the RI’s stance regarding the role of market share in firms’ performance. The collective evidence from this stream of literature suggests that market share has a small positive impact on a firm’s profitability, but this effect is contextual.
assessing the validity of RI Rule 4. Rukes 4 argues, in part, that enterprises need to be innovative to stay in business, expand and be profitable. This requires different types of innovation at different times. ‘Innovation’ refers to the development of, constant improvement in, and commercialisation of intellectual property (IP).
After exploring the various definitions and measures of innovation and innovativeness, we proceed with discussing the evidence regarding the impact of innovation on firm performance and important factors that are likely to affect firms’ propensity to innovate. We conclude the review with a discussion of potentially fruitful avenues for future research.
The goal of this review is to provide a summary of the literature on the market share-firm performance relationship and contrast it with the RI’s stance regarding the role of market share in firms’ performance. The collective evidence from this stream of literature suggests that market share has a small positive impact on a firm’s profitability, but this effect is contextual.
assessing the validity of RI Rule 4. Rukes 4 argues, in part, that enterprises need to be innovative to stay in business, expand and be profitable. This requires different types of innovation at different times. ‘Innovation’ refers to the development of, constant improvement in, and commercialisation of intellectual property (IP).
After exploring the various definitions and measures of innovation and innovativeness, we proceed with discussing the evidence regarding the impact of innovation on firm performance and important factors that are likely to affect firms’ propensity to innovate. We conclude the review with a discussion of potentially fruitful avenues for future research.
Forthcoming chapter in C. Garavaglia & J. Swinnen (eds), "Microbreweries: The Counterrevolution in the Global Beer Market", Palgrave Macmillan