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Article
Publication date: 2 March 2020

Nicholas Loyd, Gregory Harris, Sampson Gholston and David Berkowitz

Few companies have had the success that Toyota Motor Corporation has experienced over the past 70 years. Many give credit for Toyota's success to the company's famous…

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Abstract

Purpose

Few companies have had the success that Toyota Motor Corporation has experienced over the past 70 years. Many give credit for Toyota's success to the company's famous Toyota Production System. Companies outside of Toyota have tried to implement versions of Toyota's system as Lean production; however, few companies have experienced the success of Toyota, and none have experienced Toyota's sustained success. In 2001, Toyota released a publication entitled The Toyota Way 2001 as a set of globalized standards of the culture that drives the success of the Toyota Production System.

Design/methodology/approach

This research examines the effect of the Toyota Way on the implementation of Lean production outside of Toyota. A survey was developed and a study was performed on a sample of 349 participants with Lean experience. Structural equation modeling was used to test the relationship between the Toyota Way culture, Lean production, and achieving the desired Lean production system results.

Findings

The results of this research discovered that the existence of the Toyota Way culture has a significant and positive mediating effect on a Lean production system achieving the desired Lean results.

Originality/value

This research created a validated survey instrument that can be used to evaluate and understand the status of a Lean implementation initiative based upon employee perception. The results of this study support assertions made by Lean practitioners and previous research stating that culture affects the level of success of Lean production system implementation. While this may not seem like breaking news, prior to this study no statistically validated research supporting such an assertion could be found. Furthermore, this research defines culture very specifically as the Toyota Way culture as outlined in The Toyota Way 2001.

Details

Journal of Manufacturing Technology Management, vol. 31 no. 7
Type: Research Article
ISSN: 1741-038X

Keywords

Article
Publication date: 5 January 2021

Zhengyin Huang, Gregory Harris and Nicholas Loyd

The Toyota Production System has been studied for its business success for several decades. Many companies have tried to imitate but have not achieved Toyota-like results…

Abstract

Purpose

The Toyota Production System has been studied for its business success for several decades. Many companies have tried to imitate but have not achieved Toyota-like results. Failure in the ability to replicate Toyota's supportive culture has been suggested as a cause for the lack of success. Studies on lean implementation have been conducted from external views focusing on visible indicators, but few seek the employee's perception of lean initiatives. The authors propose a Toyota Production System – Toyota Way (TPS-TW) model approach using employee perception and quantitative performance metrics.

Design/methodology/approach

This research represents an improvement of a lean assessment instrument using quantifiable performance metrics for validation and testing it in the Chinese automotive industry. A survey was developed and executed in the Chinese automotive industry with participants involved with lean implementation. Experts helped examine the content validity, and reliability analysis was used to study the structure of the assessment instrument and evaluate internal consistency. Confirmatory factor analysis and structured equation modeling were used to test the construct validity. Finally, survey results and actual performance were analyzed.

Findings

The results of this research validated the TPS-TW model and assessment instrument in the Chinese automotive industry.

Originality/value

This research validates an employee perception survey that can be utilized by organizations to understand the state of their lean implementation. The research supports the use of employee perception to reflect the reality of a lean initiative and proves the TPS-TW model is an effective theoretical framework for assessment.

Details

Journal of Manufacturing Technology Management, vol. 32 no. 4
Type: Research Article
ISSN: 1741-038X

Keywords

Article
Publication date: 21 August 2009

Emmett Steed and Zheng Gu

The purpose of this study is to investigate and document current US hotel management company practices in budgeting and forecasting, and to recommend a process to improve…

8976

Abstract

Purpose

The purpose of this study is to investigate and document current US hotel management company practices in budgeting and forecasting, and to recommend a process to improve accuracy and efficiency.

Design/methodology/approach

Key corporate financial executives of hotel management companies operating in the USA were surveyed. Different from prior studies that surveyed the US property‐level managers, or European hotel operators, the study surveyed the authors of budget guidelines of US hotel management companies with at least ten units or 1,000 rooms, to discover and document the budgeting and forecasting practices of multi‐unit hotel management companies. Chi‐square and t‐tests for equality of means were used to identify the differences between large and small hotel management companies.

Findings

Many concepts were identified that are not found in hospitality management textbooks. Current budgeting and forecasting methods used in the industry present opportunities for improving accuracy. There are also opportunities for time efficiencies, which may lead to improved participant satisfaction. Some significant differences were identified in budgeting and forecasting processes between large and small management companies.

Research limitations/implications

The findings may not apply to independently owned and operated hotels, or small hotel management companies. Future research may focus on identifying economic factors that most influence hotel revenues at the local or regional level. Also, future research may focus on corporate computer software that facilitates intranet consolidation of property level budgets and forecasts and also allows spreadsheet flexibility for exploring various scenarios.

Practical implications

The practical application of the study is the recommendation for a centralized budget process that enhances accuracy, improves efficiency, and reduces “gamesmanship”.

Original/value

There are four main contributions of the study: the obtaining of inputs from corporate officers of hotel management companies with operations in the USA; the documenting of forecasting and budgeting practices of hotel management companies operating in the USA; the recommending of a forecasting and budgeting process that may improve accuracy and participant satisfaction; and the identifying of differences between large and small companies in relation to forecasting and budgeting practices.

Details

International Journal of Contemporary Hospitality Management, vol. 21 no. 6
Type: Research Article
ISSN: 0959-6119

Keywords

Article
Publication date: 6 September 2013

Alan Gregory and Yuan‐Hsin Wang

This paper investigates the Jensen's free cash flow (FCF) hypothesis in the context of UK cash acquisitions. Under this hypothesis, financial slack induces mangers to…

2229

Abstract

Purpose

This paper investigates the Jensen's free cash flow (FCF) hypothesis in the context of UK cash acquisitions. Under this hypothesis, financial slack induces mangers to acquire targets for cash if such behaviour generates either pecuniary or non‐pecuniary rewards for them, giving rise to a potential agency problem around cash takeovers. We argue that the stronger position of shareholders, as opposed to firm managers, in the UK should help in constraining such potential agency problems around such mergers. Compared to the USA, position, this should make the FCF hypothesis less relevant in the UK.

Design/methodology/approach

This paper uses short‐run announcement period returns and long‐run calendar‐time returns in testing our hypotheses.

Findings

This paper shows that low leverage and high FCF may be advantageous provided shareholder monitoring is adequate. By analysing both announcement period and long‐term returns, we show that acquirers with high levels of FCF are superior performers, and that any long‐run under‐performance of cash acquirers appears to be associated with low cash resources and low institutional ownership.

Research limitations/implications

Inevitably, long‐run returns measurement is contentious, although we present results from alternative models to mitigate this. Limitations are necessarily imposed by the sample size, meaning that multi‐way partitioning of the data is not feasible.

Practical implications

The practical implications are that the UK regulatory and institutional ownership regime may actually protect the interests of shareholders and mitigate agency problems.

Originality/value

As far as we are aware, this is the first paper to systematically test FCF, leverage and institutional ownership effects in the context of UK cash acquisitions.

Details

Review of Behavioural Finance, vol. 5 no. 1
Type: Research Article
ISSN: 1940-5979

Keywords

Abstract

Details

Our Future in Public Relations: A Cautionary Tale in Three Parts
Type: Book
ISBN: 978-1-83909-599-3

Article
Publication date: 5 October 2010

Ruggero Sainaghi

How do we measure the success of a hotel business? What factors determine performances? This paper seeks to explore the responses which researchers and practitioners have…

9017

Abstract

Purpose

How do we measure the success of a hotel business? What factors determine performances? This paper seeks to explore the responses which researchers and practitioners have given to these questions in the last 20 years.

Design/methodology/approach

The paper is based on the analysis of 152 contributions and uses the balanced scorecard as a model to rationalize the main streams of research.

Findings

The analysis of literature shows the gradually assumed importance of the balanced scorecard as a satisfactory performance measurement system. The findings related to the determinants of results are instead highly complex and far‐reaching. The determining factors are generally looked for within the enterprise. Four main functional research fields have been identified (strategy, production, marketing and organization) and for each one main research goals, findings and open questions are defined. The horizontal axis of the balanced scorecard (customer perspective, strategy and process perspective) is the area of greatest research (over half of the papers). This evidence appears in line with the structural features of the hotel business and with the importance held, respectively, by customer relations and the protection of the efficiency of management processes.

Research limitations/implications

The paper shows the main weaknesses and strengths in previous research design in terms of: dependent and independent variables, sample and data sources. At theoretical level, the current research is strongly based on six countries (69 percent of the sample). Given the profound diversity of national contexts, researchers focusing on internal determinants should use external control variables more extensively. Furthermore, some recent subfields appear very fragmented especially in terms of independent variables used.

Originality/value

The paper identifies research streams and gaps in the field of hotel performance.

Details

International Journal of Contemporary Hospitality Management, vol. 22 no. 7
Type: Research Article
ISSN: 0959-6119

Keywords

Article
Publication date: 12 July 2021

Shahzad Hussain, Muhammad Akbar, Qaisar Ali Malik, Tanveer Ahmad and Nasir Abbas

The purpose of this paper is to examine the impact of corporate governance, investor sentiment and financial liberalization on downside systematic risk and the interplay…

Abstract

Purpose

The purpose of this paper is to examine the impact of corporate governance, investor sentiment and financial liberalization on downside systematic risk and the interplay of socio-political turbulence on this relationship through static and dynamic panel estimation models.

Design/methodology/approach

The evidence is based on a sample of 230 publicly listed non-financial firms from Pakistan Stock Exchange (PSX) over the period 2008–2018. Furthermore, this study analyzes the data through Blundell and Bond (1998) technique in the full sample as well sub-samples (big and small firms).

Findings

The authors document that corporate governance mechanism reduces the downside risk, whereas investor sentiment and financial liberalization increase the investors’ exposure toward downside risk. Particularly, the results provide some new insights that the socio-political turbulence as a moderator weakens the impact of corporate governance and strengthens the effect of investor sentiment and financial liberalization on downside risk. Consistent with prior studies, the analysis of sub-samples reveals some statistical variations in large and small-size sampled firms. Theoretically, the findings mainly support agency theory, noise trader theory and the Keynesians hypothesis.

Originality/value

Stock market volatility has become a prime area of concern for investors, policymakers and regulators in emerging economies. Primarily, the existence of market volatility is attributed to weak governance, irrational behavior of market participants, the liberation of financial policies and sociopolitical turbulence. Therefore, the present study provides simultaneous empirical evidence to determine whether corporate governance, investor sentiment and financial liberalization hinder or spur downside risk in an emerging economy. Furthermore, the work relates to a small number of studies that examine the role of socio-political turbulence as a moderator on the relationship of corporate governance, investor sentiment and financial liberalization with downside systematic risk.

Details

Journal of Asia Business Studies, vol. 16 no. 1
Type: Research Article
ISSN: 1558-7894

Keywords

Article
Publication date: 3 July 2017

Slađana Savović

The purpose of this paper is twofold: first, to examine the impact of organizational culture differences on post-acquisition performance, and second, to provide deeper…

3889

Abstract

Purpose

The purpose of this paper is twofold: first, to examine the impact of organizational culture differences on post-acquisition performance, and second, to provide deeper understanding of the mechanisms through which the impact occurs introducing into the analysis the mediating effect of employee attitudes.

Design/methodology/approach

The sample is based on domestic and international acquisitions in Serbia carried out during the period 2002-2011. Linear regression models were fitted according to Baron and Kenny procedures for mediation analysis. Statistical significance of the indirect or mediated effect is calculated by using the bootstrap test.

Findings

The results show that organizational culture differences positively impact post-acquisition performance. Moreover, employee attitudes are found to be a partial mediator of the relationship between culture differences and post-acquisition performance.

Practical implications

The presented results are especially useful for managers involved in the processes of acquisitions indicating that culture differences, if properly understood and managed, can be a source of value creation. Further, the results of the analysis indicate that managers must monitor and evaluate employee attitudes towards changes and help employees to face the challenges of change, thereby contributing the improvement of post-acquisition performance.

Originality/value

Previous research of organizational culture differences in transitional economies is limited, and this study is the first empirical investigation of the impact of organizational culture differences on post-acquisition performance in Serbia. This paper aids researchers and practitioners to identify the specific cultural challenges in the context of transitional economies.

Details

Leadership & Organization Development Journal, vol. 38 no. 5
Type: Research Article
ISSN: 0143-7739

Keywords

Article
Publication date: 8 April 2014

José Carlos Pinho, Ana Paula Rodrigues and Sally Dibb

The purpose of this paper is to propose a conceptual framework that explores the relationships among the following constructs: corporate/organisational culture, market…

11956

Abstract

Purpose

The purpose of this paper is to propose a conceptual framework that explores the relationships among the following constructs: corporate/organisational culture, market orientation, organisational commitment and organisational performance in non-profit organisations.

Design/methodology/approach

In line with previous studies in the field, a quantitative research design was adopted. The data collection was performed through a mail survey of a sample of Portuguese non-profit organisations operating in the area of health. Structural equation modelling was used as a means to analyse the hypothesised relationships.

Findings

Results have shown that organisational culture impacts on organisational performance. Concerning the market orientation consequences, the study results suggest that higher levels of market orientation result in both high levels of organisational commitment and organisational performance. Results also suggest that organisational commitment does not affect performance in a very significant way.

Research limitations/implications

The study was restricted to non-profit organisations, particularly those operating in the area of health and used cross-sectional data to test the research model and hypotheses. Whilst these findings remain valid, they cannot be used for universal generalisations. This study has significant theoretical and practical implications.

Practical implications

Practitioners and researchers agree that organisational culture may lead to different performance results, although little attention has been given to this issue. The study is useful for understanding organisational culture, market orientation, organisational commitment and organisational performance in non-profit organisations.

Originality/value

This paper offers original findings through simultaneously examining the relationships between organisational culture, market orientation, organisational commitment and organisational performance in the context of non-profit organisations. The findings add weight to the recent emphasis on business-oriented approaches as a lever for improving performance in non-profit organisations.

Article
Publication date: 10 January 2022

Francesco Rizzi, Marina Gigliotti and Eleonora Annunziata

This paper aims to investigate the interlinks between different forms of organisational culture (OC), supply chain (SC) integration, green supply chain management (GSCM…

Abstract

Purpose

This paper aims to investigate the interlinks between different forms of organisational culture (OC), supply chain (SC) integration, green supply chain management (GSCM) practices. It adopts a green human resource management (GHRM) perspective on knowledge, skills and abilities (KSAs) dynamics to shed light on the drivers that facilitate the implementation of green practices along with the SC.

Design/methodology/approach

The study adopts a quantitative approach through a survey administered to 381 formally appointed Italian SC managers, combining two methodological approaches, namely, the collection of self-reported information regarding the perceived OC, SC integration and GSCM practices in respondent’s organisations and an experimental design aimed at collecting the expected links between GHRM and the firm’s performance in different neutral conditions.

Findings

The results highlight that it is necessary to observe the disaggregated paths that link the different types of OC and dimensions of SC integration to benefit from a path-specific rationale for each GSCM practice. Insights on how different dimensions of SC integration mediate the relations between different OCs and GSCM practices, in the light of the role played by KSAs in the pursuit of the firm’s sustainable performance, reveal the relative importance of establishing strong relationships with customers and among the actors involved in the production process.

Practical implications

This paper provides directions for collaboration among SC and HR managers in the pursuit of GSCM.

Originality/value

This paper adopts an original classification of both OC and SC integration, identifying the existence of previously unrevealed nexuses. Additionally, it provides an original contribution to the extant literature by separately analysing each GSCM practice and, thus, offering detailed insights on their drivers.

Details

Supply Chain Management: An International Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1359-8546

Keywords

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