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Article
Publication date: 20 March 2009

Lars Grønholdt and Anne Martensen

The purpose of this paper is to examine how different management practices drive key financial performance and business success in Danish companies.

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1826

Abstract

Purpose

The purpose of this paper is to examine how different management practices drive key financial performance and business success in Danish companies.

Design/methodology/approach

Both qualitative and quantitative research is conducted to study the relationships between eight general management practices and key performance results. A survey among large companies in Denmark and the companies' key performance results form the empirical basis for the study. Two central key performance results are “increase in turnover” and “return on invested capital”. It can be argued that sustained increase in turnover and high return on invested capital at the same time indicate business success and return to shareholders in the long run.

Findings

The findings demonstrate that the eight management practices are linked to key performance results. The high‐performing companies are differentiated significantly from the low‐performing companies with regard to how well they perform on these management practices. All eight management practices are essential in achieving business success.

Research limitations/implications

The study is limited to eight identified management practices in large Danish companies.

Practical implications

The study has clear implications in terms of identifying and measuring the importance of essential management practices, which influence key performance results, and thereby separate facts from fads.

Originality/value

The study identifies and measures eight essential management practices and links these to actual key performance results.

Details

Measuring Business Excellence, vol. 13 no. 1
Type: Research Article
ISSN: 1368-3047

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Article
Publication date: 1 December 2000

Barrie Oxtoby, Tony McGuinness and Robert E. Morgan

Presents a case analysis of Thorn Lighting Limited. The focus of discussion is the Spennymoor operations plant in the UK, whose mission is: “To supply the products…

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1665

Abstract

Presents a case analysis of Thorn Lighting Limited. The focus of discussion is the Spennymoor operations plant in the UK, whose mission is: “To supply the products required by the market, at the lowest possible cost, consistent with meeting our customers’ expectations on quality and delivery”. The plant employs just over 1,000 personnel and, since 1989, has undergone major organizational and cultural change enabling its market share to approximately double. Much of this has been attributed specifically to the close alignment of Thorn’s HR strategy and its overall business strategy, in particular to a cultural shift based on self‐managed teamworking and decentralized line management. The sustained business success being enjoyed by Thorn Lighting at Spennymoor is a powerful indicator of the company’s ability to create conditions for motivating and aligning people behind commercial goals. It has taken a decade, in a competitive market place, for such a strategy to mature.

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Journal of European Industrial Training, vol. 24 no. 9
Type: Research Article
ISSN: 0309-0590

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Article
Publication date: 29 April 2021

Majid Mohammad Shafiee

Looking for ways to gain competitive advantage (CA) is one of the most challenging issues for today's businesses. Although previous research considered several aspects in…

Abstract

Purpose

Looking for ways to gain competitive advantage (CA) is one of the most challenging issues for today's businesses. Although previous research considered several aspects in this regard, the literature has largely overlooked the process of gaining CA via strategic intangibles, regarding business type and context. This paper aims to examine how to gain CA through strategic intangibles such as intellectual capital (IC).

Design/methodology/approach

Building on the concept of IC, and using data gathered from both the manufacturing/service and public/private firms, the authors tested a moderated mediation model to determine if the effect of IC on CA was conditioned on business type, competitive intensity and managerial support.

Findings

Among the factors in the relationship between IC and CA, the results discovered the role of business intelligence (BIN) and brand image (IM), as two key mediators. Furthermore, it was revealed that managerial support and competitive intensity moderate the relationship between IC, the mediators and CA. Finally, the authors provide academics and practitioners with some implications.

Originality/value

Previous research did not fully address the aforementioned antecedents (i.e., IC, BIN and IM) toward CA in a comprehensive model. Developing the path toward CA by focusing on the role of intangibles, the authors proposed a moderated mediation model, which has hitherto received scant attention in the field of competition.

Details

Journal of Intellectual Capital, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1469-1930

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Article
Publication date: 1 April 2006

This article aims to present the findings from the Cox Review into sustaining creativity in UK business.

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1117

Abstract

Purpose

This article aims to present the findings from the Cox Review into sustaining creativity in UK business.

Design/methodology/approach

This article is prepared by an independent writer.

Findings

The article finds that sustained success in business, regardless of sector, increasingly depends on the ability to innovate. The Cox Review presents five recommendations to help businesses maintain sustainability.

Originality/value

This article provides useful information on the Cox Review.

Details

Strategic Direction, vol. 22 no. 4
Type: Research Article
ISSN: 0258-0543

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Article
Publication date: 1 January 1981

Stephen E. South

The idea of competitive advantage is not new. What is new is the growing acceptance of this planning concept as a general philosophy of management. In all likelihood, the…

Abstract

The idea of competitive advantage is not new. What is new is the growing acceptance of this planning concept as a general philosophy of management. In all likelihood, the notion of competitive advantage will provide the guiding philosophy for the predominant management practice of the 1980s: strategic management. As experience at Clark Equipment Company shows, the answers to eight key questions can spell out a winning strategy.

Details

Journal of Business Strategy, vol. 1 no. 4
Type: Research Article
ISSN: 0275-6668

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Article
Publication date: 15 June 2012

Masaaki Kaneko and Masahiko Munechika

The purpose of this paper is to propose a extraction procedure of competitive advantage factors that a company needs to have organizational capabilities, and leads the…

Abstract

Purpose

The purpose of this paper is to propose a extraction procedure of competitive advantage factors that a company needs to have organizational capabilities, and leads the company to make a sustainable business success. By using the proposed method, a company can conduct a self‐assessment based on the factors, and re‐design its own quality management system, then realize the competitive advantage in a target business area.

Design/methodology/approach

By collecting and analyzing the strategy data of six business areas in company A and conducting the interview to the project team in each business area for six months, the decision‐making mechanism and its pattern of the competitive advantage factors are examined, then the self‐assessment method of quality management system is proposed.

Findings

The decision‐making mechanism for competitive advantage factors is clarified. The customer value that is one of elements in the mechanism is categorized. And the analyzing method for specifying the core customer value and the organizational capability that leads customers directly to select a company's own product is established.

Originality/value

The originality of this paper is in establishing a self‐assessment method that follows the concept of “evaluation design.” This means not using pre‐established evaluation criteria for all companies in all types of business, as is done in conventional research, but rather, designing criteria based on the competitive advantage factors in a target business area and then reflecting those factors into its own quality management system.

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Article
Publication date: 11 December 2019

Alessandro Panno

This paper aims to examine how modern small-medium enterprises (SMEs) operating in the tourism industry perceive and define corporate performance, and how they measure and…

Abstract

Purpose

This paper aims to examine how modern small-medium enterprises (SMEs) operating in the tourism industry perceive and define corporate performance, and how they measure and monitor businesses’ achievements. Actual performance measurement activities are expected to show how (and if) companies manage the key factors that drive value creation and value erosion processes. Are effective performance measurement activities aligned with main theoretical prescriptions?

Design/methodology/approach

Theory and previous empirical research on SMEs’ performance is instrumentally used to identify those key factors that are supposed to drive small/medium hotels’ business performance; building on a resource-based view (RBV) framework, which provides the theoretical perspective to link resources, capabilities and actions to firm performance, a model based on the financial, the operational and the organisational dimension of firm’s success is developed through the selection of a set of consistent financial and non-financial indicators. The balanced performance measurement model is then tested via a field research study based on a semi-structured questionnaire sent to 540 selected SMEs active in the tourism sector.

Findings

The results suggest that small-medium Italian hotels, typically family firms managed by owners, tend to adopt a balanced system of performance measurement that keeps track of the financial and non-financial dimensions of hotel’s performance; customer orientation proves to be an extremely important leading indicator of non-financial corporate performance. Amongst traditional financial indicators, net profits, profitability ratios such as return on investment and return on sales, revenues for available room, occupancy rate and some cost efficiency ratios are found to be relevant, whereas extensive use is made of non-financial metrics such as customer satisfaction, number of complaints, number of new and repeat customers, employee competencies and staff abilities. Furthermore, some interesting results about frequency of measurement and purpose of measurement are also presented.

Research limitations/implications

Data used in this study do not allow for a comprehensive analysis of the correlation between hotel performance and a specific measurement model implemented. Further future research that is meant to be developed will focus on the issue of addressing the nexus between firm performance and resource and capability used as strategic factors and monitored with an effective performance measurement system. The sample can also be expanded to carry out comparative analysis.

Practical implications

The results shed some further light on performance measurement activities actually implemented by Italian hotels. The evidence gives a contribution to understanding the relationship between critical resources and capabilities that need to be developed and effectively managed to reach superior business performance. Furthermore, the study highlights the need to design and implement a customised performance measurement model, which accounts for firm-specific resources and capabilities and sector-specific features for the hotel to properly manage those strategical success factors that can deliver sustained competitive advantage to the firm.

Originality/value

This research paper contributes to performance measurement literature, by suggesting that the development and the implementation of a simplified but structured and complete performance measurement system, designed on the specific needs and features of SMEs, seems to be a sensible way to improve resources and capabilities utilisation and to obtain a holistic understanding of the achievements of these organisations.

Details

Measuring Business Excellence, vol. 24 no. 2
Type: Research Article
ISSN: 1368-3047

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Article
Publication date: 11 January 2011

Balvir Talwar

Quality research has paved the way for the evolution of several business excellence models/national quality awards (BEMs/NQAs). This paper aims to review the evolution of…

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4849

Abstract

Purpose

Quality research has paved the way for the evolution of several business excellence models/national quality awards (BEMs/NQAs). This paper aims to review the evolution of BEMs/NQAs and takes a comparative view on these models. It also throws some light on the emerging scenario.

Design/methodology/approach

This study is based on information gathered through an extensive literature review using print media and research databases like Emerald, EBSCO and Pro‐Quest. Discussions with experts helped in reviewing the effectiveness of BEMs and visualising the emerging scenario.

Findings

A paradigm shift has been witnessed in the understanding of quality. Although MBNQA, EFQM and the Deming Prize are the three globally accepted major BEMs, some unique models are also emerging. The paper identifies 100 BEMs/NQAs being used across the world. They are subject to changes according to the evolution of the external environment and are considered a contemporary way to attain excellence. The benefits and limitations of BEMs are identified. BEMs need to be fine‐tuned by incorporating lessons from ancient teachings to attain “sustained business results”.

Research limitations/implications

Although this paper identifies 100 BEMs/NQAs, the author has limited access to the details of these models. While details of some NQAs are available on the web in the native languages of their respective countries, many BEMs/NQAs have limited information in the public domain. Further to this, rapid changes in BEMs/NQAs in line with the evolution of the external environment makes this study even more difficult. Future research may attempt to overcome some of these limitations.

Practical implications

The study is expected to help in reviewing national business excellence strategies. The effectiveness of BEMs/NQAs needs to be examined empirically for sustained results. Ancient teachings provide the clues for sustainable growth.

Originality/value

This paper is based on literature review and interaction with experts. The paper provides a worldwide analysis of BEMs/NQAs and suggests a few emerging dimensions of excellence.

Details

The TQM Journal, vol. 23 no. 1
Type: Research Article
ISSN: 1754-2731

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Article
Publication date: 9 November 2020

Upasana Dhanda and Vijay Kumar Shrotryia

Today, corporate sustainability is at a tipping point. With average lifespan of organizations shrinking, striving for corporate longevity and sustainability has become…

Abstract

Purpose

Today, corporate sustainability is at a tipping point. With average lifespan of organizations shrinking, striving for corporate longevity and sustainability has become indispensable in this fast-paced world. Despite the growing interest in this domain, companies are struggling to define sustainability in a way that is relevant to their business. This article attempts to synthesize the extant literature and provide a conceptual perspective on corporate sustainability and sustainable business models.

Design/methodology/approach

Thematic literature review was done to gain an understanding of the extant literature and the ongoing debates on organizational sustainability. As the literature in context of corporate sustainability was found to be in a fluid state, a thematic review was found suitable to systematize and disclose valuable insights that open avenues for addressing sustainability concerns.

Findings

The paper attempts to throw light on the journey of organizations towards sustainability and how the context of sustainability has changed for the organizations over time. The paper discusses how companies embarked on their sustainability revolution by shifting their focus from mere compliance and philanthropy to attaining a sustainability edge and also explicates the transformation from traditional business models to sustainable business models. Finally, the research gaps are identified to pave the way for future research in the domain of corporate sustainability.

Originality/value

The extant literature on corporate sustainability is in a shambolic state. This creates a need to investigate what has been done and how the context of corporate sustainability is being shaped. This paper contributes to the emerging literature on sustainability by providing a conceptual perspective and highlighting the research gaps which pave the way for future research on sustainability paradigm.

Details

Qualitative Research in Organizations and Management: An International Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-5648

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Article
Publication date: 31 December 2010

Michael Lewrick, Maktoba Omar, Robert Raeside and Klaus Sailer

Entrepreneurship and innovation education has derived from established university curriculum and the context is set of concepts and tools used in the corporate world. The…

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1527

Abstract

Entrepreneurship and innovation education has derived from established university curriculum and the context is set of concepts and tools used in the corporate world. The challenge of transforming a start‐up company into a business success needs different capabilities. It goes beyond the development of an idea and writing‐up a comprehensive business plan. This study analysed over 200 technology‐driven companies which have been created under the formal requirement of a business plan competition since 1996. The objective was to identify drivers for innovation and success. From the results, an agenda of entrepreneurial and innovation education was derived and is discussed.

Details

World Journal of Entrepreneurship, Management and Sustainable Development, vol. 6 no. 1/2
Type: Research Article
ISSN: 2042-5961

Keywords

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