Diversification

Topics: Retailing, Shopping mall Pages: 108 (32721 words) Published: August 14, 2013
Diversification Strategies in the Global Retailing Industry: Essays on the Dimensions and Performance Implications

DISSERTATION of the University of St. Gallen, School of Management, Economics, Law, Social Sciences and International Affairs to obtain the title of Doctor of Philosophy in Management

submitted by

Timo Sohl from Germany

Approved on the application of

Prof. Dr. Thomas Rudolph and Prof. Dr. Günter Müller-Stewens

Dissertation no. 3987

Difo-Druck GmbH, Bamberg 2012

The University of St. Gallen, School of Management, Economics, Law, Social Sciences and International Affairs hereby consents to the printing of the present dissertation, without hereby expressing any opinion on the views herein expressed.

St. Gallen, October 26, 2011

The President:

Prof. Dr. Thomas Bieger

----------------------------------For my parents Elisabeth and Peter Sohl -----------------------------------

Acknowledgements
First of all, I would like to thank my advisor Prof. Dr. Thomas Rudolph. I enjoyed my time as his research assistant and I am very thankful that he enabled me to get such a deep and fascinating insight into the retailing industry. In the development of my dissertation, he gave me important advice and ensured that my ideas were convincing and relevant. I particularly enjoyed assisting him during various executive education seminars, where he showed me how relevant research results can be translated into impactful recommendations for practitioners. Also, during our numerous team events, his generosity was just remarkable. Furthermore, I would like to thank my co-advisor Prof. Dr. Günter Müller-Stewens for his help and suggestions in shaping my dissertation. I enjoyed our interesting discussions and he gave me valuable advice on how to build on the corporate diversification literature. In the starting phase of this dissertation, he also gave me important words of encouragement to investigate the topic of within-industry diversification in the context of the retailing industry. During the last ten months, I had a very productive, inspiring, and intellectually stimulating research time as a visiting Ph.D. student at IESE Business School in Barcelona. I am very grateful to my advisor, Prof. Govert Vroom, who contributed significantly to my academic education. In our weekly meetings, he challenged my ideas in a very constructive way and gave me priceless advice, help, and support to improve my conceptual thinking and methodological research skills. Moreover, he guided me through moments of impatience and gave me highly valuable insights into the publication process. I would also like to thank the faculty members of the Strategic Management department at IESE Business School for their friendly hospitality and the stimulating discussions we had in regard to my research project. Also, I would like to thank the Swiss National Science Foundation (SNF) for the generous financial support of my time as a visiting scholar, which enabled me to focus solely on my research project. Special thanks go to Planet Retail for providing the data used in this dissertation. It is clear that the quantitative analysis in this dissertation would not have been possible without the support of Planet Retail. In particular, I would like to thank Ms. Bianca Casertano (Retail Analyst), Ms. Svetlana Dehtjareva (Client Value Specialist), and Ms. Alexa Kellermann (Business Development Manager) for their fast help and support with all of my data related enquiries. Also, I thank Mr. Marc Berg (VP Corporate Strategy Otto Group) and Mr. Alex Kim (Corporate Development Tchibo GmbH) for discussing the implications of this work.

Furthermore, I would like to thank my colleagues at the Institute of Retail Management for their friendship and the nice time we had together: Johannes Bauer, Tim Böttger, Felix Brunner, Dr. Oliver Emrich, Dr. Alexandra Glas, Dr. Christina Heidemann, Jasmin Hödl, Dr. Niklas Meise, Dr. des. Liane...


References: Figure F.1: Average Sales in 1000 EURO (1997-2009)
35000 30000 25000 20000 15000 10000 5000 0 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
average sales (1000 EURO)
Figure F.2: Average Profits in 1000 EURO (1997-2009)
1600 1400 1200 1000 800 600 400 200 0 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
average EBIT (1000 EURO)
115
Figure F.3: Average Assortment Diversification into Food and Non-Food Retailing (1997-2009)
Figure F.4: Average Retail Format Diversification (1997-2009)
0,94 0,92 0,9 0,88 0,86 0,84 0,82 0,8 0,78 0,76 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Figure F.5: Average International Diversification (1997-2009)
0,9 0,8 0,7 0,6 0,5 0,4 0,3 0,2 0,1 0 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Since Nov. 2011 IESE Business School Postdoctoral research fellow in the Strategic Management Department Barcelona, Spain
Education
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