Search results

The purpose of this paper is to investigate the influence of environmental and cultural factors on the benchmarking implementation process and management control within organizations in the United Arab Emirates (UAE). By exploring the complex interplay of these factors, the study aims to uncover how environmental considerations and cultural dynamics shape the effectiveness and outcomes of benchmarking initiatives in the UAE's unique business environment. The research seeks to provide valuable insights for organizations in the UAE to optimize their benchmarking practices and enhance their overall performance and competitiveness.

The study adopts a mixed-methods approach, combining qualitative and quantitative methods to comprehensively explore the influence of environmental and cultural factors on benchmarking implementation and management control in the UAE. This study draws on the integration of two main theoretical perspectives: institutional theory and contingency theory. This is the first attempt to integrate these different frameworks in a single study. The study presents a case study of Emirates Industrial City (EIC), which has been recognized by global industries for boosting efficiency, cost control, quality and overall operations. The quality method known as benchmarking maximizes the potential for organizations to achieve optimal levels of production efficiency.

This paper provides compelling evidence that the benchmarking implementation process and management control in the UAE are significantly influenced by the complex interplay of environmental and cultural factors. By recognizing the importance of environmental sustainability and cultural values in guiding benchmarking practices, UAE organizations can optimize their performance and competitiveness. The findings contribute valuable insights to the existing literature, offering practical implications for UAE organizations seeking to leverage benchmarking as a strategic tool for growth and continuous improvement. The findings reveal that UAE organizations incorporating environmental considerations into benchmarking practices demonstrate a proactive approach to sustainability, aligning their goals with eco-friendly practices. Cultural influences, including a culture of collaboration and openness to external learning, contribute to successful benchmarking adoption and knowledge sharing. Moreover, the study highlights that the integration of benchmarking outcomes into the management control process positively correlates with organizational performance. UAE organizations that leverage benchmarking data for decision-making and performance evaluation exhibit higher levels of competitiveness and efficiency.

This paper has important implications for organizations in the UAE seeking to optimize their benchmarking practices and management control. The study's findings can guide organizations in aligning their benchmarking efforts with environmental sustainability goals and cultural values to enhance performance and competitiveness. Understanding the influence of environmental and cultural factors on benchmarking adoption and implementation allows organizations to foster a benchmarking culture that embraces knowledge sharing and learning. Managers can tailor their approaches to accommodate cultural nuances and enhance the effectiveness of benchmarking initiatives.

This paper contributes to the existing body of knowledge in several ways. Integrated approach: By examining the complex interplay of environmental and cultural factors, this study takes an integrated approach of institutional and contingency theories to understanding their influence on benchmarking implementation and management control. It offers a comprehensive view of how these factors interact to shape organizational practices and outcomes. UAE context: The study focuses specifically on the UAE, providing insights into benchmarking practices within the unique environmental and cultural context of the nation. This research addresses a gap in the literature by examining the influence of these factors in a distinct business environment.

Gillette’s historically successful “razor and blade” business model (RBM) has been a promising benchmark for multiple businesses across diverse industries worldwide in the past several decades. The extant literature deals with very few nuances of this business model notwithstanding the fact that there are several variants of this business model being put to practical use by firms in diverse industries in grossly metaphorically equivalent situations.

This study adopts the 2 × 2 truth table framework from the domains of mathematical logic and combinatorics in fleshing out all possible (four logical possibilities) variants of the razor and blade business model for further analysis. This application presents four mutually exclusive yet collectively exhaustive possibilities on any chosen dimension. Two major dimensions (viz., provision of subsidy and intra- or extra-firm involvement in the making of razors or blades or both) form part of the discussion in this paper. In addition, this study synthesizes and streamlines entrepreneurial wisdom from multiple intra-industry and inter-industry benchmarks in terms of real-time firms explicitly or implicitly adopting several variants of the RBM that suit their unique context and idiosyncratic trajectory of evolution in situations that are grossly reflective of the metaphorically equivalent scenario of razor and recurrent blades. Inductive method of research is carried out with real-time cases from diverse industries with a pivotally common pattern of razor and blade model in some form or the other.

Several new variants of the razor and blade model (much beyond what the extant literature explicitly projects) have been discovered from the multiple metaphorically equivalent cases of RBM across industries. All of these expand the portfolio of options that relevant entrepreneurial firms can explore and exploit the best possible option chosen from them, given their unique context and idiosyncratic trajectory of growth.

This study has enriched the literature by presenting and analyzing a more inclusive or perhaps comprehensive palette of explicit choices in the form of several variants of the RBM for the relevant entrepreneurial firms to choose from. Future research can undertake the task of comparing these variants of RBM with those of upcoming servitization business models such as guaranteed availability, subscription and performance-based contracting and exploring the prospects of diverse combinations.

Smart entrepreneurial firms identify and adopt inspiring benchmarks (like razor and blade model whenever appropriate) duly tweaked and blended into a gestalt benchmark for optimal profits and attractive market shares. They target diverse market segments for tied-goods with different variants or combinations of the relevant benchmarks in the form of variegated customer value propositions (CVPs) that have unique and enticing appeal to the respective market segments.

Value-sensitive customers on the rise globally choose the option that best suits them from among multiple alternatives offered by competing firms in the market. As long as the ratio of utility to price of such an offer is among the highest, even a no-frills CVP may be most appealing to one market segment while a plush CVP may be tempting to yet another market segment simultaneously. While professional business firms embrace resource leverage practices consciously, amateur customers do so subconsciously. Each party subliminally desires to have the maximum bang-to-buck ratio as the optimal return on investment, given their priorities ceteris paribus.

Prior studies on the RBM have explicitly captured only a few variants of the razor and blade model. This study is perhaps the first of its kind that ferrets out many other variants (more than ten) of the razor and blade model with due simplification and exemplification, justification and demystification.

Environment, social, governance (ESG) has taken on increased importance in real estate investment in recent years, with benchmarking ESG being critically important for more informed real estate investment decision-making. Using 60 stakeholder interviews with senior real estate executives, this paper examines the strategic issues regarding benchmarking ESG in real estate investment; specifically, identifying areas going forward where ESG benchmarks need to be improved. This includes the issues of granularity, climate resilience and climate risk, as well as an increased focus on outcomes and performance, and using best practice procedures in delivering ESG in real estate investment.

In total, 60 stakeholder interviews were conducted with key real estate players globally to assess the use of ESG benchmarking in real estate investment at various levels (asset/fund-level, listed real estate, delivery, reporting and internal benchmarking), across regions and across different types of real estate investment players (real estate fund manager, real estate investment trust (REIT), institutional investor and real estate advisor). This enabled key strategic insights to be identified for improved ESG benchmarking practices in real estate investment going forward.

There was clear evidence of the need for improved benchmarks for ESG in real estate investment. More focus was needed on performance, outcomes and impacts, with a stronger focus on granularity around the issues of climate resilience and climate risk. Improvements in Global Real Estate Sustainability Benchmark (GRESB), as well as increased attention to Task Force for Climate-Related Financial Disclosures (TCFD) were seen as important initiatives. Clear differences were also seen in the use of these ESG benchmarks on a regional basis; with Australia and Europe seen as the world leaders. These strategic stakeholder insights regarding ESG saw the development of best practice guidelines for the more effective delivery of ESG benchmarks for more informed real estate investment decision-making, as well as a series of recommendations for improving ESG benchmarking in real estate investment.

ESG benchmarking is a critical area of real estate investment decision-making today. By utilising stakeholder interviews, the strategic insights from key players in the real estate investment space are identified. In particular, this paper identifies how the current ESG benchmarks used in real estate investment need to be improved for a more critical assessment of climate resilience and climate risk issues at a more granular level. This enables the identification and delivery of more effective ESG best practice procedures and recommendations for improving ESG benchmarking in real estate investment going forward. These issues have clear impacts on ongoing capital raisings by investors, where benchmarking ESG is an increasingly important factor for real estate investors, tenants and real estate asset managers.

Based on the stakeholder interview responses, this paper has identified key areas for improvement in the current benchmarks for ESG in real estate investment. It is anticipated that an increased focus on technology and the availability of more granular data, coupled with user demand, will see more focus on assessing performance, outcomes and impacts at a real estate asset-specific level and produce a fuller range of ESG metrics, more focused on climate resilience and climate risk. This will see a more effective range of ESG benchmarks for more informed real estate investment decision-making.

This study aims to develop a benchmarking model with productivity, management, and sustainability indicators (PMS), measure the performance of furniture firms in Vietnam, explore the causes of performance gaps, and identify the barriers and factors of benchmarking practice.

The article uses both qualitative and quantitative methods. Literature review, exploratory interviews and a grounded-theory process are employed to develop a benchmarking framework and identify performance gaps, barriers and factors of benchmarking practice. The PMS benchmarking model and quantitative analysis are utilized to assess performance indicators.

The study proposes the PMS benchmarking model and measures performance indicators of furniture firms. The sources of performance gaps are explored as design, material supply, the economy of scale, market, management systems and openness. Benchmarking practice encounters barriers of difficult indicators, unsuitable firms, insufficient benchmarking knowledge, reluctance to share data, unavailable and unreliable data, and weak engagement. Benchmarking practice is determined by core factors: leader; internal factors: systems, engagement, strategy, scope, culture; external factors: customers, suppliers, associations, support, competition.

Firms could learn benchmarking indicators and the causes of these gaps to improve their performance. When implementing a benchmarking study, scholars and practitioners need to pay attention to barriers and factors of the benchmarking practice to ensure effective results.

This study develops the PMS benchmarking model and estimates performance indicators in an emerging country with the performance gap justification. It provides readers with benchmarking barriers with solutions and success factors of benchmarking practice.

The purpose of this paper is to address the knowledge gap on the use of benchmarking techniques as utilized by facilities management (FM) professionals for the purpose of identifying means to improve industry benchmarking practices and guide the direction of future FM benchmarking research.

Data were collected through surveying 585 FM practitioners representing various countries, organization sizes, types, industries. The data were summarized and analyzed through creating frequency tables, charts, and cross-tabulations. The survey results were compared to a previously published study on benchmarking use to identify the similarities and differences between benchmarking for FM functions vs core business functions.

The findings indicate that while FM-oriented benchmarking has been adopted at similar levels as other industries, FM-oriented benchmarking tends to be simplistic, lacks a strategic position in the company, often relies upon self-report survey data, is often performed by an individual with no formal benchmarking team and does not utilize process benchmarking or benchmarking networks. These findings emphasize the need for benchmarking education, advocacy for FM as a strategic business partner, the development of verified data sources and networks specifically for the unique greater facilities management field functions.

These findings provide needed data on the state of FM practitioner use of benchmarking specifically for FM functions in North America. The results can be used as an assessment for the industry, to improve practitioner use and knowledge, and to identify further avenues for academic study.

The value of this study lies in filling in identified knowledge gaps on how FM practitioners are using benchmarking in practice. These data are absent from the research literature and offer the potential to help bridge the academic-practitioner divide to ensure that future research will focus on addressing practitioner needs for the industry.

This study aims to examine the performance of environmental, social and governance (ESG) equity indices in Latin America (LA), evaluating their risk-return characteristics in comparison to conventional benchmark indices.

Using a quantitative empirical approach, the authors analyze ESG equity indices from Brazil, Mexico, Chile, Peru and Colombia, employing metrics such as Sharpe, Sortino and Omega ratios to measure risk-adjusted returns. Regression analysis is employed to assess the replicability of ESG indices by benchmark indices. Monte Carlo simulations are conducted to explore the potential increase in risk-adjusted returns when ESG equity indices are incorporated into portfolios.

The study addresses critical questions for investors: Can ESG indices outperform their benchmarks? Can these ESG indices be replicated by benchmark counterparts? Do ESG equity indices enhance portfolio diversification? The findings reveal that investing in ESG indices has the potential to enhance risk-adjusted returns and portfolio diversification.

While this study focuses on various LA economies, it’s important to note variations in currency and volatility.

For investors in LA, this study highlights the importance of considering ESG indices as part of their investment strategies. While not all ESG indices outperform conventional ones, some may improve diversification and risk-adjusted performance. Investors should carefully assess market-specific conditions and national factors when making investment decisions.

The primary contribution of this study is its focus on LA countries in the examination of diverse portfolios. The research provides valuable insights into the performance of ESG indices in this region compared to conventional benchmark indices. This approach addresses an important gap in the existing literature and offers a more comprehensive perspective on ESG investing and portfolio diversification.

Se examina el rendimiento de los índices-ESG en América Latina (AL), evaluando sus características de riesgo y retorno en comparación con los índices convencionales.

Utilizando un enfoque cuantitativo, analizamos los índices-ESG de Brasil, México, Chile, Perú y Colombia, empleando ratios de Sharpe, Sortino y Omega para medir los rendimientos ajustados al riesgo. Se utiliza análisis de regresión para evaluar la replicabilidad de los índices-ESG por parte de los índices de referencia. Se realizan simulaciones de Monte-Carlo para explorar el aumento en los rendimientos ajustados al riesgo cuando se incorporan los índices-ESG en las carteras.

El estudio aborda preguntas críticas: ¿Pueden los índices-ESG superar a sus índices de referencia? ¿Pueden estos índices-ESG ser replicados por sus contrapartes de referencia? ¿Mejoran los índices-ESG la diversificación de las carteras? Los hallazgos revelan que la inversión en índices-ESG tiene el potential de mejorar los rendimientos y la diversificación de las carteras de inversión.

Aunque este estudio se centra en diversas economías de AL, es importante tener en cuenta variaciones en moneda y volatilidad.

La principal contribución de este estudio radica en su enfoque en países de AL en el examen de carteras diversas; ofrece valiosos conocimientos sobre el rendimiento de los índices-ESG en esta región en comparación con los índices convencionales.

The purpose of this study is to measure mutual funds' manager performance by attributing it to their abilities to choose better securities (selectivity effect) and to allocate these securities better than their benchmarks (allocation effect). The study enables the authors to examine the relative contributions of the commonly known asset-pricing factors in mutual funds' performance.

To examine managers' ability to steer funds' returns, the authors conduct a two-dimensional holdings-based analysis using factor-specific decomposition of funds' excess returns into their ability to select and allocate securities better than their benchmarks. Subsequently, the authors conduct an analysis of the covariance (ANCOVA) due to these factors in explaining funds' excess returns over time.

While managers' ability to choose better securities than the benchmarks (the selectivity effect) appears modest, some funds (especially the winners) allocate securities in their portfolios better than their benchmarks (the allocation effect) based on their exposures to certain factors (e.g. the momentum factor for the winner funds). However, although funds consistently gain through their ability to predict the size and value factors well, they do not consistently possess the skills to predict the momentum factor.

Although the paper analyzes all the available diversified funds, the sample excludes several other categories, such as thematic and international funds. Further, the analysis is based on equity-oriented Indian funds. Broader studies of changes in factor exposures and the inclusion of more factors apart from those conventionally used may shed more light on the managers' ability to maneuver these factors.

The results show that mutual fund managers lack persistence in their performance, even though some of them could predict specific factors well. Since the activity in active mutual funds could not lead to superior performance over time, investors could be better off by selecting cheaper passive funds for their long-term investments.

The paper presents a novel approach to studying funds' performance by conducting a two-dimensional holdings-based analysis to capture the relative contributions of common asset-pricing factors in the cross-section as well as over time.

Secure mental health services in one UK region have acted within a network to develop a range of involvement practices. A new quality benchmarking tool has been created to appraise the implementation of these involvement practices. The purpose of this paper is to report upon a qualitative evaluation of this development.

Staff and service users involved in the co-production of the benchmarking tool were engaged in a series of focus groups and participatory inquiry approaches enacted in the course of scheduled network meetings. Data thus collected was subject to thematic analysis.

Four distinct themes were identified which were titled: Taking time, taking care; The value not the label; An instrument of the network; and All people working together. These are discussed in relation to recent theorising of co-production.

Effectively, this study represents a case study of developments within one region. As such, the findings may have limited transferability to other contexts.

Staff and service users can work together effectively to the benefit of each other and overall forensic services. The benchmarking tool provides a readymade mechanism to appraise quality improvements.

Despite a prevailing culture of competition in wider health-care policy, cooperation leads to enhanced quality.

The benchmarking tool is a unique development of a longstanding involvement network, demonstrating the positive implications for enacting co-production within secure services.

The globalisation of supply chains has contributed to modern slavery by degrading labour standards and work practices. The inherent difficulties involved in monitoring extremely fragmented production processes also render workers in and from developing countries vulnerable to labour exploitation. This research adopts a benchmark methodology that will help examine the inherent modern slavery challenges.

This study examines how the benchmark model, including governance, risk assessment, purchasing practice, recruitment and remedy of victims, addresses supply chain modern slavery challenges. The proposed hypotheses are tested based on the reoccurring issues of modern slavery in global supply chains.

Estimations suggest that modern slavery is a growing and increasingly prominent international problem, indicating that it is the second largest and fastest growing criminal enterprise worldwide except for narcotics trafficking. These social issues in global supply chains have drawn attention to the importance of verifying, monitoring and mapping supply chains, especially in lengthy and complex supply chains. However, the advent of digital technologies and benchmarking methodologies has become one of the existing key performance indicators (KPIs) for measuring the effectiveness of modern slavery initiatives in supply chains.

This review provides an understanding of the current situation of global supply chains concerning the growing social issue of modern slavery. However, this includes various individual specialities relating to global supply chains, modern slavery, socially sustainable supply chain management (SCM), logistic social responsibility, corporate social responsibility and digitalisation. Furthermore, the review provided important implications for researchers examining the activities on benchmarking the effectiveness of the existing initiatives to prevent modern slavery in the supply chains.

The existing literature reflects that the connection between enablers of Industry 4.0 (I4.0), Supply Chain (SC) sustainability and reliability is understudied. To cover this gap, the purpose of this study is to identify and benchmark the enablers of I4.0 for SC sustainability to build a Reliable Supply Chain (RSC).

This study benchmarks the I4.0 enablers for SC sustainability for building a RSC and analyses them with a multi-method approach. The identified potential enablers are validated empirically. A multi-method approach of Analytical Hierarchy Process (AHP), Decision Making Trial and Evaluation Laboratory (DEMATEL) and Preference Ranking for Organization Method for Enrichment Evaluation (PROMETHEE-II) was used to investigate the influence of the identified benchmarking enablers and develop an interrelationship diagram among the identified enablers.

This study benchmarks the potential enablers of I4.0 to achieve high ecological-economic-social gains in SCs considering the Indian scenario. Digitalization of the supply chain, decentralization, smart factory technologies and data security and handling are the most prominent enablers of I4.0 for SC sustainability to build a RSC.

The findings from the study may benefit managers, practitioners, specialists, researchers and policymakers interested in I4.0 sustainability applications.