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Article
Publication date: 9 September 2014

Conrad den Hertog

The purpose of this paper is to present a new and comprehensive business strategy matrix which can be used to create competitive advantage for the value chain of every…

2784

Abstract

Purpose

The purpose of this paper is to present a new and comprehensive business strategy matrix which can be used to create competitive advantage for the value chain of every business unit of any firm.

Design/methodology/approach

This paper reviews the key findings of several well-known papers within the value chain literature and then adds several new conceptual insights to step by step create a logically developed, business strategy matrix featuring four strategy choices.

Findings

This paper presents the four business strategy choices of competitive value chains, based on the business strategies of innovative quality, lean cost, agile delivery and attentive service.

Research limitations/implications

A future research implication of this paper is to empirically test the financial benefits for producers of custom products, of applying agile delivery as a key business strategy.

Practical implications

This paper provides the senior management of each business unit of any firm, with a clear guide to defining an optimal business strategy.

Social implications

This paper is intended to advance the practice of business strategy by senior management, to enhance customer value across all business units.

Originality/value

This paper expands upon existing business strategy models by providing a comprehensive business strategy matrix, which can be applied to all possible business units. It does this by building upon current best practice to demonstrate that next to innovative quality, lean cost and attentive service strategies, an agile delivery strategy is required in the case of custom products.

Article
Publication date: 1 December 2004

Carol Bergeron

Successful companies make their talent strategy part of their strategic planning process and integrate it into daily operations. They strive for the alignment of their…

6367

Abstract

Successful companies make their talent strategy part of their strategic planning process and integrate it into daily operations. They strive for the alignment of their talent with the organization’s vision, goals and business strategy. When combined with the alignment of the tools and systems used by employees, these organizations are positioned to effectively compete and win in the marketplace. However, positioning your organization for success is one thing, while making it happen is quite another.

Details

Handbook of Business Strategy, vol. 5 no. 1
Type: Research Article
ISSN: 1077-5730

Keywords

Article
Publication date: 1 August 1998

Lainy Lawrence, Duncan Andrews and C. France

Discusses a quality assurance approach to environmental management with reference to case material from Lucas Rists Wiring Systems. Concludes that an environmental…

2032

Abstract

Discusses a quality assurance approach to environmental management with reference to case material from Lucas Rists Wiring Systems. Concludes that an environmental management system should be relatively easy to implement in an organisation with a solid strategy foundation.

Details

The TQM Magazine, vol. 10 no. 4
Type: Research Article
ISSN: 0954-478X

Keywords

Article
Publication date: 2 November 2015

Yahya N. Al Serhan, Craig C. Julian and Zafar U. Ahmed

The purpose of this paper is to develop and justify a theoretical framework for analyzing the relationship between manufacturing strategy, business strategy, time-based…

1270

Abstract

Purpose

The purpose of this paper is to develop and justify a theoretical framework for analyzing the relationship between manufacturing strategy, business strategy, time-based manufacturing competence, capability and competitiveness and their impact on firm performance for firms operating in the manufacturing sector. Many executives and scholars have argued that time is an important component for developing a brilliant strategy to achieve a sustainable competitive advantage for the firm.

Design/methodology/approach

This paper provides a theoretical framework primarily concerned with the relationship between time-based manufacturing competence, competitive priorities and firm performance. The framework suggests that firms focusing on time as a strategic factor at both strategic levels – business strategy and manufacturing strategy – can achieve a multi-competitive advantage, and, in turn, high performance.

Findings

To realize the level of performance associated with time-based manufacturing competence, it is essential for firms to identify the areas in which time can be reduced. These include reduction in design lead time, product concept to production; time-based competition for product-to-market firms; time-based manufacturing competence; product development activities; fast-to-product; and customer service.

Originality/value

This article provides a theoretical framework for linking manufacturing strategy to business strategy and performance to help expand the body of knowledge for other researchers to follow.

Details

International Journal of Commerce and Management, vol. 25 no. 4
Type: Research Article
ISSN: 1056-9219

Keywords

Article
Publication date: 15 March 2013

Jung‐Lang Cheng

The purpose of this paper is to examine the relationship between Six Sigma and business strategy. The Six Sigma approach requires managers to examine processes from the

1817

Abstract

Purpose

The purpose of this paper is to examine the relationship between Six Sigma and business strategy. The Six Sigma approach requires managers to examine processes from the customers' perspective, thus ensuring long‐term success.

Design/methodology/approach

This study reviews the literature on the relationship between Six Sigma and business strategy, and examines how integrating business strategy with Six Sigma improvement action planning can produce competitive advantages. Moreover, a preliminary exploratory framework for linking Six Sigma to business strategy is presented, based on an empirical study of a Taiwan firm.

Findings

Six Sigma implementations must be integrated with a company's business strategy. Six Sigma is a structured and disciplined way of solving critical business problems that cannot be addressed using other methods.

Research limitations/implications

The linking of Six Sigma and business strategy framework is an advanced and coherent form of strategic thinking, which extends a strategic vision throughout all units of an organization and to meet core customer requirements.

Originality/value

The paper shows that, as a strategic‐oriented initiative, the context of Six Sigma activities must be adapted and modified to fit a firm's organizational strategy, Consequently, Six Sigma is central to the strategic drive of a company.

Details

Measuring Business Excellence, vol. 17 no. 1
Type: Research Article
ISSN: 1368-3047

Keywords

Article
Publication date: 10 June 2022

José Ramón Saura, Daniel Palacios-Marqués and Belém Barbosa

Technological advances in the last decade have caused both business and economic sectors to seek for new ways to adapt their business models to a connected data-centric…

Abstract

Purpose

Technological advances in the last decade have caused both business and economic sectors to seek for new ways to adapt their business models to a connected data-centric era. Family businesses have also been forced to leave behind traditional strategies rooted in family stimuli and ties and to adapt their actions in digital environments. In this context, this study aims to identify major online marketing strategies, business models and technology applications developed to date by family firms. Methodology: Upon a systematic literature review, we develop a multiple correspondence analysis (MCA) under the homogeneity analysis of variance by means of alternating least squares (HOMALS) framework programmed in the R language. Based on the results, the analyzed contributions are visually analyzed in clusters.

Design/methodology/approach

Upon a systematic literature review, we develop an MCA under the HOMALS framework programmed in the R language. Based on the results, the analyzed contributions are visually analyzed in clusters.

Findings

Relevant indicators are identified for the successful development of digital family businesses classified in the following three categories: (1) digital business models, (2) digital marketing techniques and (3) technology applications. The first category consists of four digital business models: mobile marketing, e-commerce, cost per click, cost per mile and cost per acquisition. The second category includes six digital marketing techniques: search marketing (search engine optimization and search engine marketing (SEM) strategies), social media marketing, social ads, social selling, websites and online reputation optimization. Finally, the third category consists of the following aspects: digital innovation, digital tools, innovative marketing, knowledge discovery and online decision making. In addition, five research propositions are developed for further discussion and future research.

Originality/value

To the best of our knowledge, this study is the first to cover this research topic applying the emerging programming language R for the development of an MCA under the HOMALS framework.

Details

International Journal of Entrepreneurial Behavior & Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1355-2554

Keywords

Book part
Publication date: 27 October 2015

Constantinos C. Markides

The growing literature on business models has so far had limited impact on research in strategy. The main reason for this is the fact that the intellectual territory of…

Abstract

The growing literature on business models has so far had limited impact on research in strategy. The main reason for this is the fact that the intellectual territory of the business model construct overlaps significantly with that of strategy. Without acknowledging this overlap, academics doing research on business models run the risk of asking questions that have already been explored in the strategy literature. This implies that research on business models can only become more impactful if we first identify explicitly what is different between the business model and strategy concepts and then focus our research questions on that difference.

Details

Business Models and Modelling
Type: Book
ISBN: 978-1-78560-462-1

Keywords

Abstract

Details

Review of Marketing Research
Type: Book
ISBN: 978-0-85724-723-0

Book part
Publication date: 31 August 2016

Gautam Ahuja and Elena Novelli

The constructs of re-deployment and co-deployment have been central to discussions of scope economies in diversified firms. We argue however that these constructs are also…

Abstract

The constructs of re-deployment and co-deployment have been central to discussions of scope economies in diversified firms. We argue however that these constructs are also significant in the context of single-business firms. Increasingly, changes in technology and demand preferences have provided opportunities for entrants to attack incumbents with a different business model, one that may neutralize the incumbent’s advantage for at least some set of customers (e.g., Netflix vs. Blockbuster). In such a context incumbents often respond by modifying their business model. We note that several of the business model-altering responses of the incumbent can be characterized in terms of co-deployment and re-deployment benefits and costs, where co-deployment benefits/cost apply to the scope economies/diseconomies in running multiple business models within the same firm and re-deployment benefits/costs apply to the implications of moving assets from one business model to another. We then examine the set of strategic choices faced by the incumbent in competing with an entrant with a different business model. We identify five set of factors that are likely to influence the decision to choose between these alternatives – uncertainty spawned by the new business model, market segment targeted by the new model, the within-business-across-business-model co-deployment and re-deployment benefits and costs, the across-business co-deployment and re-deployment benefits and costs, and the incumbent’s prior performance history. Although some of these choices have seen some work, most remain relatively underexplored in the strategy literature. We highlight the potential for research in this area with a set of propositions that identify key conditions that should hold true for a particular strategic choice to be picked by an incumbent.

Details

Resource Redeployment and Corporate Strategy
Type: Book
ISBN: 978-1-78635-508-9

Keywords

Book part
Publication date: 3 July 2018

Rajan Varadarajan

The purposes of this chapter are to propose definitions of innovation, product innovation, business model innovation, marketing innovation, innovation strategy, and…

Abstract

Purpose

The purposes of this chapter are to propose definitions of innovation, product innovation, business model innovation, marketing innovation, innovation strategy, and strategic innovation, elaborate on their literature and conceptual underpinnings, and provide an overview of the conceptual domains of innovation, innovation strategy, and strategic innovation.

Methodology/Approach

First, certain definitions of innovation, drawn from literature, are presented. Next, certain definitions that incorporate logically incremental refinements in them are presented. Building on these, definitions of innovation, product innovation, business model innovation, and marketing innovation are proposed.

Findings

Innovation is the creation of value by using relevant knowledge and resources for conversion of an idea into a new product, process, or practice, or improvements in an existing product, process, or practice. Innovation strategy is an organization’s relative emphasis on different types of innovations and the associated pattern of resource allocation, in alignment with its strategy at the corporate and business unit levels. Strategic innovation is the creation of value by using relevant knowledge and resources for conversion of an idea into a new product, process, or practice with the potential to have a major transformational effect on the evolution of markets and industries.

Practical implications

Over the past several decades, there has been a sustained and high level of interest in issues relating to innovation among academics in a number of disciplines, business and social entrepreneurs, business practitioners, and policy makers. Books, journal articles, and business magazine articles provide a number of definitions of innovation and specific types of innovation. Multiple definitions of a construct can be problematic in certain respects and beneficial in other respects. A potential upside of multiple definitions of innovation is the prospect of each being a source of ideas for one or more innovations that benefit society, and an impetus for research focusing on specific questions.

Originality/value

Implementation of an idea, value creation, and use of relevant knowledge and resources are used as constituent elements in the proposed definitions of innovation, product innovation, business model innovation, marketing innovation, and strategic innovation.

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