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论文作者:www.51lunwen.org论文属性:硕士毕业论文 thesis登出时间:2015-04-23编辑:felicia点击率:31147
论文字数:论文编号:org201504202146504900语种:英语 English地区:英国价格:免费论文
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摘要:很多人不了解特许经营权,对特许经营权的作用和意义都很不了解。本文以麦当劳为例,为大家分析特许经营权的意义和价值。
Franchising Theories
Several theories have been propounded to explain franchising as a growth strategy. Broadly, they can be separated into two schools: The resource scarcity (capital needed) and Agency transactions theory. These theories explain why franchised proportion differs across franchisor networks. Others include E-factor theory, Life cycle theory, and Risk spreading theory.
The Resource Scarcity Theory
This perspective postulates that 'there is an inverse U-shaped relationship between franchise proportion and franchise organization age such that franchise proportion first increases during a franchisor's initial years and later decreases', (Castrogiovanni, et al, 2004, p.1).
The resource scarcity argument suggests that franchising is a means of acquiring critical scarce resources of capital, local knowledge and managerial experience needed for firms rapid growth and expansion, (Castrogiovanni, et al,(2004,p.11),& Oxenfeldt &Kelly (1968)in Oxenfeldt &Kelly(1994,p1) .
Oxenfeldt &Kelly (1968) explain why the proportion of outlets franchised differs among franchisors. They describe franchising as a means to access resources, indicating the firm's propensity to franchise varies over time.
The resource scarcity reasons to franchise are most relevant for young franchisors seeking to expand, it is found that rapid expansion is necessary so that young franchisors can obtain sufficient scale economies to overcome the cost advantages of established competitors. But expansion opportunities often diminish over time as franchisors markets become increasingly saturated.
Oxenfeldt &Kelly (1968) therefore argued that franchisors become less reliant on franchising as maturity approach. They would no longer use franchising as expansion strategy due to the sufficiency in internal resources meeting the expansion needs and even buy back franchises, operate those outlets, and retain more of the outlet profit. Therefore, many franchisors eventually would take back full control over all their outlets to become wholly company-owned chains. Therefore, resource scarcity is based on logic from product life cycle and franchising varies over an organization's life cycle, (Oxenfeldt &Kelly (1968) in Oxenfeldt &Kelly (1994, p4).
The Agency Theory
This theory postulates that 'there is a positive relationship between franchised proportion and franchise organization age, such that franchised proportion tends to increase with age'.(Castrogiovanni, et al, 2004, p.2).
The theory claims that franchising improves the alignment of goals between the network and outlet levels. Franchising eases three common agency problems of moral hazard, adverse selection, and holdup. (Shane, 1998 in Castrogiovanni, et al, 2004, p.1).
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