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An Exploration of How High-performing Corporations Create Sustained Competitive Advantage from Resource-based View and Social Exchange Theory – Two Cases Studied within the Industry of MICE in Taiwan

By 賴諭萱 and Yu-Hsuan Lai


[[abstract]]The global MICE industry is growsing at an unprecedented pace in the tourism industry. However, the MICE industry itself is not profitable. Tremendous economic growth lies in the peripheral industries such as translation and interpretation, travel-related services, and accommodation and catering services etc. Translators and interpreters are indispensable to the success of meetings and exhibitions. Nonetheless, little attention has been given by scholars of translation and interpretation related studies to the multi-faceted issues faced by the MICE industry in Taiwan. In view of this lack of research on the MICE industry, this study aims to fill the void in the literature by focusing on firm-level issues. By using resource-based view and social exchange theory, this study attempts to answer the two basic questions of what high-performing companies have and have done in order to have sustained competitive advantages and superior performance in the MICE industry. Moreover, this study will provide insight into existing and potential industry players as well as freelance translators and interpreters who are interested in this industry. The research methods adopted include case study and content analysis approaches. Twenty-one stakeholders, internal and external to the two study cases, participated in the study. The research results show that an organisational culture centering on the perception of quality leads the study cases to pursue better quality human resource practices. In order to bring out the best in employees, they have comprehensive and robust human resource, operations, project, and quality control management programmes, which later on become rooted and embedded in the companies. The two firms studied in this research convert key resources into a core competence, and hence sustained competitive advantages, by developing beneficial social exchanges with employees, suppliers, and customers, who will bring about more new customers. Ultimately, profits will result, and the two firms will outperform other competitors. Due to the close examination of the interaction among the studied cases and their suppliers (freelance interpreters/translators) and customers, the finding of the study extends Lawler’s (2001) generalised exchange by incorporating other types of exchange into it. Further studies on the macro market structure and micro customer relationships of the MICE Industry in Taiwan are suggested.

Topics: 一般性交換;資源基礎理論;社會交換理論;永續競爭優勢;會議展覽產業, generalised exchange;resource-based view;social exchange theory;sustained competitive advantages;the MICE industry, [[classification]]33
Year: 2011
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