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11 – 20 of over 106000Seyed Behnam Khakbaz and Nastaran Hajiheydari
Successful future has inspired organizations to measure long-term and non-financial measurements and key performance indicators (KPIs). Kaplan and Norton proposed balanced…
Abstract
Purpose
Successful future has inspired organizations to measure long-term and non-financial measurements and key performance indicators (KPIs). Kaplan and Norton proposed balanced scorecard (BSC) for this issue and have extended it to one of the most preferred strategic management system’s tools. However, available planning tools like BSC have some limitations, like dependency to the developer, weakness in showing time delays, and also mathematical relationships between lead and lag indicators. In this paper, the authors would present a new methodology for developing BSCs, which would be able to overcome these limitations. Therefore, the purpose of this paper is to develop an integrated framework for developing BSC with system dynamics approach (a dynamic BSC (DBSC)) which has lower limitation in compare with traditional BSC. The other purpose of this paper is developing a DBSC for an Iranian public transportation company.
Design/methodology/approach
Based on this purpose, related literature was thoroughly reviewed and the proposed methodology designed using the system dynamics and BSC concepts. This methodology is a composition of original BSC development methodology and system dynamics principles. An assumed organization has been used for showing methodology’s capability and procedure. Furthermore, a case study has been accomplished in this paper. This case study is a DBSC which has been developed for an Iranian public transportation company. The purpose of this case study is to ensure about proposed methodology implication in action.
Findings
The authors proposed a methodology which can be applied for developing BSCs. This methodology consists of six different steps which are: developing a system for organization, selecting stakeholders’ most important objectives and target, identifying organization’s objectives and their KPIs for different BSC aspects, developing strategy map, targeting, and selecting initiatives. In the proceeding of this paper, the proposed methodology and its steps would be explained in detail.
Originality/value
The system dynamic approach has precedents in business studies; however, this research makes this approach operational in BSC designing and analysis. BSCs, which developed by this methodology can show time delays between an organization’s objectives, its KPIs’ relationship and also planning for it. Selecting achievable and rational vision and objectives’ targets, change management, scenario planning and policy analysis are other values which can be achieved by DBSC deployment which need further researches. In summary, this research has shown an integrated framework for developing DBSC and then applies it to an Iranian public transportation company. Therefore, another contribution of this paper is the application of this method for an Iranian public transportation company.
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Wen Pei and Jeng-Huan Li
The credit card business has been one of the key businesses for banks in Taiwan. The purpose of this paper is to use competitive dynamics and structured context analysis (SCA) to…
Abstract
Purpose
The credit card business has been one of the key businesses for banks in Taiwan. The purpose of this paper is to use competitive dynamics and structured context analysis (SCA) to explore the competition relationships among market, resources, and strategies concerning the credit card issued banks in Taiwan.
Design/methodology/approach
The market commonality and resource similarity analysis of competitive dynamics in the first stage obtained the competitive mapping of four major credit card issue banks, as well as the differences of competition strategy. In the second stage, 1,968 pieces of data on credit card news from 2013 to 2014 were collected. SCA was used to analyze the competitive action, competitive response, number of responses, response lag, and response order.
Findings
The competitor mapping and four hypothesis obtained from competitive dynamics correspond to the credit card competition strategy, as obtained from SCA.
Originality/value
This research combined competitive dynamics and SCA to analyze the credit cards market in Taiwan. The research model could be used in the other financial market.
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The author invokes the concept of strategic adaptation to first specify the evolutionary as well as the strategic character of the causal mechanism (“intra-industry exit”), and…
Abstract
Purpose
The author invokes the concept of strategic adaptation to first specify the evolutionary as well as the strategic character of the causal mechanism (“intra-industry exit”), and second to explain its effect on the evolution of firms' within-industry geographic scope. The author reconciles the two competing logics for firm behavior – strategic choice and environmental selection – that underpin alternate explanations for the relationship between intra-industry exit and the evolution of geographic scope. This paper contributes to both theory and empirics concerning the dynamics of firms' competitive scope, in general, and within-industry geographic scope, in particular.
Design/methodology/approach
The US long-distance telecom services industry during the period 1984–1996, which satisfies the empirical requirements of a geographically fragmented industry characterized by demand-side heterogeneity across the submarkets, provides the research setting and panel data to test the empirical hypotheses.
Findings
The author finds that while the firms' overall performance influences their intra-industry exit decisions, it is the firm-in-market performance that influences their decision to exit a specific submarket. The author also finds that intra-industry exit decision, when influenced by firm performance, does lead to reduction in geographic scope.
Research limitations/implications
This context-specific theory, which conceptualizes the dynamics of firms' geographic scope as an evolutionary process, explains the temporal change in the geographic scope of firms during the latter part of the demand growth stage of a geographically fragmented industry.
Originality/value
This analysis of the demand-side dynamics of firms' within-industry geographic scope focuses on the hypothetical causal effect of intra-industry exit, a pervasive business phenomenon. First, the demand-side analysis of the evolution of geographic scope is grounded in a theoretical framework that melds firm dynamics with submarket dynamics and industry dynamics. Second, this analysis explicates the demand-side underpinnings of the strategic adaptive mechanism.
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Massimo Contrafatto, John Ferguson, David Power, Lorna Stevenson and David Collison
The purpose of this paper is to provide a theoretically informed analysis of a struggle for power over the regulation of corporate social responsibility (CSR) and social and…
Abstract
Purpose
The purpose of this paper is to provide a theoretically informed analysis of a struggle for power over the regulation of corporate social responsibility (CSR) and social and environmental accounting and reporting (SEAR) within the European Union.
Design/methodology/approach
The paper combines insights from institutional theory (Lawrence and Buchanan, 2017) with Vaara et al.’s (2006) and Vaara and Tienar’s (2008) discursive strategies approach in order to interrogate the dynamics of the institutional “arena” that emerged in 2001, following the European Commission’s publication of a Green Paper (GP) on CSR policy and reporting. Drawing on multiple sources of data (including newspaper coverage, semi-structured interviews and written submissions by companies and NGOs), the authors analyse the institutional political strategies employed by companies and NGOs – two of the key stakeholder groupings who sought to influence the dynamics and outcome of the European initiative.
Findings
The results show that the 2001 GP was a “triggering event” (Hoffman, 1999) that led to the formation of the institutional arena that centred on whether CSR policy and reporting should be voluntary or mandatory. The findings highlight how two separate, but related forms of power (systemic and episodic power) were exercised much more effectively by companies compared to NGOs. The analysis of the power initiatives and discursive strategies deployed in the arena provides a theoretically informed understanding of the ways in which companies acted in concert to reach their objective of maintaining CSR and SEAR as a voluntary activity.
Originality/value
The theoretical framework outlined in the paper highlights how the analysis of CSR and SEAR regulation can be enriched by examining the deployment of episodic and systemic power by relevant actors.
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Timo Rogge, Ricarda Berger, Linus Pohle, Raimund Rolfes and Jörg Wallaschek
The purpose of this study a fast procedure for the structural analysis of gas turbine blades in aircraft engines. In this connection, investigations on the behavior of gas turbine…
Abstract
Purpose
The purpose of this study a fast procedure for the structural analysis of gas turbine blades in aircraft engines. In this connection, investigations on the behavior of gas turbine blades concentrate on the analysis and evaluation of starting dynamics and fatigue strength. Besides, the influence of structural mistuning on the vibration characteristics of the single blade is analyzed and discussed.
Design/methodology/approach
A basic computation cycle is generated from a flight profile to describe the operating history of the gas turbine blade properly. Within an approximation approach for high-frequency vibrations, maximum vibration amplitudes are computed by superposition of stationary frequency responses by means of weighting functions. In addition, a two-way coupling approach determines the influence of structural mistuning on the vibration of a single blade. Fatigue strength of gas turbine blades is analyzed with a semi-analytical approach. The progressive damage analysis is based on MINER’s damage accumulation assuming a quasi-stable behavior of the structure.
Findings
The application to a gas turbine blade shows the computational capabilities of the approach presented. Structural characteristics are obtained by robust and stable computations using a detailed finite element model considering different load conditions. A high quality of results is realized while reducing the numerical costs significantly.
Research limitations/implications
The method used for analyzing the starting dynamics is based on the assumption of a quasi-static state. For structures with a sufficiently high stiffness, such as the gas turbine blades in the present work, this procedure is justified. The fatigue damage approach relies on the existence of a quasi-stable cyclic stress condition, which in general occurs for isotropic materials, as is the case for gas turbine blades.
Practical implications
Owing to the use of efficient analysis methods, a fast evaluation of the gas turbine blade within a stochastic analysis is feasible.
Originality/value
The fast numerical methods and the use of the full finite element model enable performing a structural analysis of any blade structure with a high quality of results.
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Mpho Trinity Manenzhe, Arnesh Telukdarie and Megashnee Munsamy
The purpose of this paper is to propose a system dynamic simulated process model for maintenance work management incorporating the Fourth Industrial Revolution (4IR) technologies.
Abstract
Purpose
The purpose of this paper is to propose a system dynamic simulated process model for maintenance work management incorporating the Fourth Industrial Revolution (4IR) technologies.
Design/methodology/approach
The extant literature in physical assets maintenance depicts that poor maintenance management is predominantly because of a lack of a clearly defined maintenance work management process model, resulting in poor management of maintenance work. This paper solves this complex phenomenon using a combination of conceptual process modeling and system dynamics simulation incorporating 4IR technologies. A process for maintenance work management and its control actions on scheduled maintenance tasks versus unscheduled maintenance tasks is modeled, replicating real-world scenarios with a digital lens (4IR technologies) for predictive maintenance strategy.
Findings
A process for maintenance work management is thus modeled and simulated as a dynamic system. Post-model validation, this study reveals that the real-world maintenance work management process can be replicated using system dynamics modeling. The impact analysis of 4IR technologies on maintenance work management systems reveals that the implementation of 4IR technologies intensifies asset performance with an overall gain of 27.46%, yielding the best maintenance index. This study further reveals that the benefits of 4IR technologies positively impact equipment defect predictability before failure, thereby yielding a predictive maintenance strategy.
Research limitations/implications
The study focused on maintenance work management system without the consideration of other subsystems such as cost of maintenance, production dynamics, and supply chain management.
Practical implications
The maintenance real-world quantitative data is retrieved from two maintenance departments from company A, for a period of 24 months, representing years 2017 and 2018. The maintenance quantitative data retrieved represent six various types of equipment used at underground Mines. The maintenance management qualitative data (Organizational documents) in maintenance management are retrieved from company A and company B. Company A is a global mining industry, and company B is a global manufacturing industry. The reliability of the data used in the model validation have practical implications on how maintenance work management system behaves with the benefit of 4IR technologies' implementation.
Social implications
This research study yields an overall benefit in asset management, thereby intensifying asset performance. The expected learnings are intended to benefit future research in the physical asset management field of study and most important to the industry practitioners in physical asset management.
Originality/value
This paper provides for a model in which maintenance work and its dynamics is systematically managed. Uncontrollable corrective maintenance work increases the complexity of the overall maintenance work management. The use of a system dynamic model and simulation incorporating 4IR technologies adds value on the maintenance work management effectiveness.
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Patricio Vera, Christopher Nikulin, Monica Lopez-Campos and Rosa Guadalupe G. Gonzalez Ramirez
The purpose of this paper is to propose a combination of forecasting methods that enables a holistic understanding of a future situation, given certain influencing variables by a…
Abstract
Purpose
The purpose of this paper is to propose a combination of forecasting methods that enables a holistic understanding of a future situation, given certain influencing variables by a combination of real data and expert knowledge.
Design/methodology/approach
The proposal combines two well-known methods: first, system archetypes that correspond to generic structures, allowing us to handle model management issues, and second, system dynamics that offers technical support on a computational level to assess different scenarios or problem solutions.
Findings
The case study considers the situation of the mining industry in Chile and its related variables, including four different scenarios. Based on the proposed methodology, the results indicate that: first, the price of copper is paramount for the industry and its effects are not limited to company profits; second, a long period of downfall in copper prices could halt exploration and development projects.
Research limitations/implications
Systemic archetypes are still a subject of research and their application in different fields of knowledge continues to increase to improve this simulation approach.
Practical implications
The case study illustrates the combination of a Vester matrix and initial system archetype models that are enriched using the system dynamics approach. Indeed, the case study aims to understand the consequences of different scenarios based on the problem-driven approach provided by Vester.
Social implications
The goal of prospective studies of large-scale and complex situations is to model the real situation to obtain solutions that may enhance social welfare.
Originality/value
The proposed methodology contributes to the existing literature by integrating techniques such as the Vester matrix, system archetype modelling and system dynamics simulation, all of which were proposed previously in the literature as independent techniques.
Propósito
Este artículo propone una combinación de métodos de pronósticos que permite una comprensión holística de una situación futura, dadas ciertas variables de influencia mediante una combinación de datos reales y conocimiento de expertos.
Diseño/metodología/enfoque
La propuesta combina dos métodos conocidos: (i) arquetipos de sistemas que corresponden a estructuras genéricas, lo que nos permite manejar los modelos, y (ii) la dinámica de sistemas que ofrece soporte técnico a nivel computacional para evaluar diferentes escenarios o soluciones de problemas.
Resultados
El caso de estudio considera la situación de la industria minera en Chile y sus variables relacionadas, incluidos cuatro escenarios diferentes. Según la metodología propuesta, los resultados indican que i) el precio del cobre es primordial para la industria y sus efectos no se limitan a las ganancias de la empresa; ii) un largo período de caída en los precios del cobre podría detener los proyectos de exploración y desarrollo.
Limitaciones en la investigación/implicaciones
Los arquetipos sistémicos siguen siendo un tema de investigación y su aplicación en diferentes campos del conocimiento continúa aumentando para mejorar este enfoque de simulación.
Implicaciones prácticas
El estudio de caso ilustra la combinación de una matriz de Vester y los modelos de arquetipos del sistema inicial que se enriquecen utilizando el enfoque de dinámica de sistemas. De hecho, el caso de estudio apunta a comprender las consecuencias de diferentes escenarios basados en el enfoque orientado a los problemas proporcionado por Vester.
Implicaciones sociales
El objetivo de los estudios prospectivos para situaciones de gran escala y complejas es modelar la situación real para obtener soluciones que puedan mejorar el bienestar social.
Originalidad/valor
La metodología propuesta contribuye a la literatura existente mediante la integración de técnicas como la matriz de Vester, el modelado de arquetipos del sistema y la simulación de dinámica de sistemas, todo lo cual se propuso anteriormente en la literatura como técnicas independientes.
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Vahid Zahedi Rad, Abbas Seifi and Dawud Fadai
This paper aims to develop a causal feedback structure that explains the dynamics of entrepreneurship development in Iran’s photovoltaic (PV) technological innovation system (TIS…
Abstract
Purpose
This paper aims to develop a causal feedback structure that explains the dynamics of entrepreneurship development in Iran’s photovoltaic (PV) technological innovation system (TIS) to design effective policy interventions for fostering PV innovation.
Design/methodology/approach
This study adopts the system dynamics approach to develop the causal structure model. The methodology follows a systematic method to elicit the causal structure from qualitative data gathered by interviewing several stakeholders with extensive knowledge about different aspects of Iran’s PV TIS.
Findings
Lack of technological knowledge and financial resources within Iranian PV panel-producing firms are the main barriers to entrepreneurship development in Iran’s PV TIS. This study proposes two policy enforcement mechanisms to tackle these problems. The proposed feedback mechanisms contribute to the domestic PV market size and knowledge transfer from public research organizations to the PV industry.
Practical implications
The proposed policy mechanisms aid Iranian policymakers in designing effective policy interventions stimulating innovation in Iran’s PV industry.
Originality/value
The main contributions of this study include conceptualizing the causal structure capturing entrepreneurship dynamics in emerging PV TIS and proposing policy mechanisms fostering entrepreneurship and innovation in PV sectors.
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The paper aims to form system dynamics modeling in introduced in conjunction with econometric analysis and planned scenario analysis which will uniquely structure the process…
Abstract
Purpose
The paper aims to form system dynamics modeling in introduced in conjunction with econometric analysis and planned scenario analysis which will uniquely structure the process whereby the ex ante capital values of the prime retail real estate sector.
Design/methodology/approach
The integrated system dynamics model investigates the structural factors affecting a unique expectation‐centered capital value (CV) formation of the prime retail real estate sector, through system dynamics modeling, econometric analysis , and the analysis of planned scenarios. This model extends beyond the usual lags and time line aspect of the price discovery process. The retail real estate sector is investigated within the Singapore context, as this sector changes dynamically and non‐linearly in relation to rental, cost and general demand expectations and to exogenous shocks like the Severe Advanced Respiratory Syndrome (SARS) outbreak. These macroeconomic factors are introduced to investigate their impact on retail space CVs through sensitivity analysis, during the simulation period of 20 quarters from the zero reference quarter (2Q2002).
Findings
The paper finds that simulation runs of the expectations‐centered system dynamics model are based on three scenarios. Sensitivity analysis is conducted for each scenario. Optimistic scenarios' CVs are lower than those of the likely scenario, owing to developers forming excessively high expectations that cannot be met by the actual rental levels. Pessimistic scenarios' CVs are highest. Based on bounded logic and the conditions for all scenarios, there are huge differences in expectations resulting in a large disparity in the endogenous CVs. Low actual rents are primarily due to poor informational efficiency, as the prime retail real estate sector is not transparent enough, and that many transactions are privately closed. Expectations cannot be met as the market information is not disseminated extensively through the agents and players. The scenarios clearly highlight the problem of informational non‐availability in the sector. The main policy implication is a need for a more transparent system of sharing rental and pricing information for the retail real estate sector, which is meaningful for real estate developers, investors and urban planners to sustain the retail real estate sector's viability.
Originality/value
This paper takes system dynamics modeling to the next level of incorporating econometric analysis, to estimate the sensitivity of retail rent to cost and the change in retail rent, for effectively structuring the dynamic process whereby the ex ante CVs of the prime retail sector in Singapore are formed and assessed, through a unique and rigorous expectations‐centered system dynamics model of rents, cost, retail stock, general demand and exogenous factors.
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The purpose of this paper is to survey literature on macroeconomic nonlinear dynamics.
Abstract
Purpose
The purpose of this paper is to survey literature on macroeconomic nonlinear dynamics.
Design/methodology/approach
The paper identifies five influential types of models where the possible generation of endogenous cycles and chaotic motion arises. First, the frameworks that make use of the one‐hump logistic type equation; second, the models inspired on the growth literature of the 1940s; third, intertemporal utility maximization problems with increasing returns; fourth, models that can be represented as piecewise dynamic maps; and, fifth, bounded rationality – heterogeneous expectations setups.
Findings
The attention will be mainly focused on the theme of business cycles; an interpretation of the deterministic real business cycle model with increasing returns is proposed and a graphical analysis of the underlying system shows that strange attractors are observable for specific sets of parameter values.
Practical implications
The study of endogenous cycles in macroeconomic literature has important implications for policy: if fluctuations are due to deterministic reasons this may imply that by manipulating policy parameters governments may be able to change the qualitative nature of the economy's dynamics.
Originality/value
The paper gives a comprehensive view of nonlinear dynamics in macroeconomics. It shows that various relevant subjects might be addressed in this kind of models, e.g. economic growth, asset pricing, business cycles, consumption decisions, among others.
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