Strategizing as multi-modal and rhetorical discursive practice: a case study of the BHP Billiton's failed acquisition of Rio Tinto

This thesis took a discourse approach to analyze BHP Billiton’s failed acquisition of Rio Tinto in 2007-08 to better understand what happens during strategizing. The research highlighted the structure and dynamics of the discourse, as well as the role of time and context in the social construction of meaning in strategizing. In doing so, the thesis provided new insights into how actors were able to influence such important strategic events. The thesis adopted a multi-modal discourse analytic framework and analyzed media reports, corporate videos, press releases and communications to shareholders, as well as slides and full transcripts of key presentations by both BHP and Rio leadership. The analysis identified the main internal and external actors as either decision-makers (BHP’s leadership, shareholders, competition regulators) or influencers (Rio’s leadership, analysts, media, customers). It further identified a range of multi-modal discursive practices and rhetorical strategies that were brought to bear to negotiate the meaning of three key constructs that shaped the discourse, that is, the additional value pool, the fair share exchange ratio, and the impact on competition. Further, the findings showed how time and context were discursively constructed and influenced the meaning of the three key constructs. These findings enabled a number of contributions to the discourse and M&A literature. While most research into acquisition discourses has routinely ignored the pre-acquisition discourse, this thesis focused on the period preceding the transaction. An initial contribution was to show that, in a pre-acquisition discourse, external actors were not a passive audience but played a significant role as rhetor and audience. Also, while previous empirical studies of discourse have emphasized the role of language, this thesis considered multi-modal discursive practices, including speech, writing, imagery, location and calculative devices. The thesis made a further contribution by showing how actors worked to persuade each other through multi-layered rhetorical strategies that were also brought to bear through non-linguistic modes. This contribution was extended by showing how these practices functioned as transgression markers that signaled convergence or divergence of meaning of the key constructs. A detailed analysis of calculative devices enabled further contributions. An initial contribution was that it showed how calculative devices developed as boundary objects over four stages: identification, calculation, negotiation, and objectification. Further, the thesis showed how calculative devices were imbued with logos and ethos through, for example, the calculative logic, accounting standards and data sources that were woven together in the symbolic manipulations of the device. Lastly, the thesis showed how calculative devices acted as boundary objects, and made a contribution to theory by proposing a third criterion, legitimacy, to complement widely acknowledged criteria of adaptability and commonality. In addition to these dynamics, the thesis outlined a discursive epistemology of strategizing through its analysis of the role of time and context in the social construction of meaning in strategizing. While the role of time and context is widely acknowledged in organizational discourse, it remained unclear what was specific to strategizing. The thesis argued that the purpose of strategizing is to construct and negotiate new or improved options for a preferred future and the actions to bring this about, and made a contribution to a discursive epistemology of strategizing by showing how temporal and contextual work in strategizing extends the horizon of discourses that relate to the future and discourses that relate to the broader discourse. This reconstructs the tapestry of interwoven discourses that make up the local strategy discourse, and creates new strategic options

Thermal sensitivity of the murine CFU-S-12: Role of environmental cells

The hyperthermic sensitivity of the CFU-S-12 in bone marrow from normal and anaemic mice was determined. The terminal slope of the survival curves, demonstrated by the T0 values, does not significantly differ in the resting and active cycling stem cells. In the active cycling stem cells the initial shoulder region was less dominant compared with the resting stem cells. The difference in heat sensitivity between resting and active proliferating CFU-S-12 might be explained by a difference in the accumulation of damage before lethality becomes manifest. The difference in heat sensitivity appears to be independent of the environmental accessory cells, demonstrated by a similar hyperthermic effect of the purified stem cells from bone marrow and spleen and the stem cells in the total cell suspensions. Therefore the heat sensitivity of the haemopoietic stem cell is not mediated by a release of injurious substances from environmental heat-damaged cells. The heat treatment does not result in a selection of macroscopic detectable colonies 12 days after inoculation, as is demonstrated by the same morphology of the spleen colonies from the stem cells before and after the hyperthermic treatment