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Article
Publication date: 6 November 2007

Lalit Narendra Wankhade and B.M. Dabade

The paper aims to study market dynamics in the backdrop of information symmetry and quality perception. The position of high quality products (HQPs) in the market is a…

Abstract

Purpose

The paper aims to study market dynamics in the backdrop of information symmetry and quality perception. The position of high quality products (HQPs) in the market is a focus of this analysis. Also, an attempt is made to unfold the prevailing parametric relationships in the market of developed and developing nations.

Design/methodology/approach

Related literature is reviewed and investigation is attempted into market dynamics. System dynamics is used for preliminary modelling and analysis. Simulation runs are carried out to assess the impact of company reputation and advertising on market parameters.

Findings

Behaviours of market parameters are unraveled. From using correlation analysis and analytic hierarchy approach, the policy measures to improve the HQP position in the market are revealed.

Research limitations/implications

The study of some aspects of market dynamics is attempted. Further, study and modelling are required to completely understand the market behaviour.

Practical implications

The model has a practical relevance to implement quality perception enhancement by deciding on the policy mix.

Originality/value

This is a start for systems analysis of the market, which may offer a long‐term foundation to market dynamics.

Details

Journal of Modelling in Management, vol. 2 no. 3
Type: Research Article
ISSN: 1746-5664

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Article
Publication date: 1 July 2006

Lalit Wankhade and B.M. Dabade

Prevailing information asymmetry in business processes alters the market dynamics. Quality uncertainty ensues from this phenomenon. Philosophy of information economics is…

Abstract

Purpose

Prevailing information asymmetry in business processes alters the market dynamics. Quality uncertainty ensues from this phenomenon. Philosophy of information economics is implemented to correlate total quality management (TQM) practices in industry with quality perceived by customers. Quality perception, a newly coined term, is discussed at length, along with causal factors. This paper aims to provide a system dynamics framework for quality perception and to investigate the role of the changing level of market‐side enablers on quality perception.

Design/methodology/approach

System dynamics is used for modeling and analysis. To realize the impact of information asymmetry on quality perception, simulation runs are carried out for an Indian case.

Findings

Enablers, such as advertising, word‐of‐mouth, rebate, warranty and guarantee, mitigate the effect of information asymmetry on quality perception, and commensurately translate TQM to market value.

Research limitations/implications

The study of some aspects of information asymmetry and quality perception is attempted. Further study is required to understand repercussions of information asymmetry on the complete supply chain processes.

Practical implications

The model has a practical relevance to implement quality perception enhancement by deciding upon the policy mix.

Originality/value

With quality perception defined and modeled, the paper attempts market orientation to quality paradigm.

Details

The TQM Magazine, vol. 18 no. 4
Type: Research Article
ISSN: 0954-478X

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Article
Publication date: 1 February 2006

Lalit Wankhade and B.M. Dabade

Total quality management (TQM) at the industry end along with quality function deployment (QFD) molds product quality. It flows to the customer at the market end with a…

Abstract

Purpose

Total quality management (TQM) at the industry end along with quality function deployment (QFD) molds product quality. It flows to the customer at the market end with a value called quality perception, embedding the concept of probability of acceptance and quality uncertainty. The purpose of this paper is to analyze and validate the existence of upcoming term “quality uncertainty” in the backdrop of information asymmetry.

Design/methodology/approach

Theories of probability and reliability engineering are used for mathematical modeling and analysis. Fault tree and success tree method is specifically applied to analyze quality uncertainty and quality perception at the market end.

Findings

Quality perception is an outcome of combined probability of information symmetry and TQM or product quality, whereas its inverse is quality uncertainty. Determining quality perception or uncertainty of any product type is possible in a market scenario, and its impact on product life cycle and company revenue can be accessed accordingly.

Research limitations/implications

The model proposed here helps compute information symmetry and quality perception at the market end. More data exploration methods can be investigated to apply this model precisely in real life setting.

Practical implications

It is of equal importance to measure quality uncertainty due to information asymmetry and commensurate revenue loss to the company. Based on this, a policy mix of maneuvering for quality perception enhancement can be developed at both ends of supply chain processes.

Originality/value

With quality perception defined and modeled, the paper attempts market orientation to quality paradigm. It adds a new dimension to quality management.

Details

International Journal of Quality & Reliability Management, vol. 23 no. 2
Type: Research Article
ISSN: 0265-671X

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Book part
Publication date: 14 December 2004

Yin Xu and Brad Tuttle

The purpose of the study is to examine whether superiors (i.e. principals), who evaluate the performance of their subordinates (i.e. agents), take information asymmetry…

Abstract

The purpose of the study is to examine whether superiors (i.e. principals), who evaluate the performance of their subordinates (i.e. agents), take information asymmetry into account by assuming that subordinates shirk when the accounting system does not provide information on subordinates’ effort levels. A decision making experiment was conducted to examine the effect of information asymmetry on effort attribution and the effect of effort attribution on performance evaluation. The results show that the presence of an agency problem significantly affected managers’ beliefs regarding the level of effort they attributed to the subordinate, which affected their evaluation of the subordinate.

Details

Advances in Accounting Behavioral Research
Type: Book
ISBN: 978-1-84950-280-1

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Article
Publication date: 25 August 2020

Jiawei Liu and Guanghong Ma

The high uncertainty of technological innovation in megaprojects brings great challenges to the R&D institution and also acts as a trigger for moral hazard. The incentive…

Abstract

Purpose

The high uncertainty of technological innovation in megaprojects brings great challenges to the R&D institution and also acts as a trigger for moral hazard. The incentive and supervision are effective means to improve the performance of innovation. The purpose of this paper is to propose appropriate incentive and supervision mechanisms to reduce information asymmetry and improve the efficiency of incentives. Suggestions on technological innovation are put forward to megaprojects management.

Design/methodology/approach

According to the principal-agent theory, the research develops incentive models under three states, i.e. information symmetry, information asymmetry and information asymmetry based on supervision mechanism. The Bayesian theory is employed to prove the effectiveness of the novel supervision method based on risk assessment.

Findings

The results indicate that under the information asymmetry, the incentive intensity is positively correlated with the social benefits coefficient, and negatively correlated with the patent benefits coefficient. The R&D effort and the owner's incentive intensity decline with the increase of information asymmetry. The supervision of risks can effectively reduce the degree of information asymmetry, and the higher the uncertainty of innovations, the more significant the effect of supervision is. As the supervision intensity increases, the incentive intensity, the R&D effort and the innovation output will increase. In addition, the R&D institutions with high innovation capability, low unit cost of R&D and low risk-aversion are more willing to make efforts to innovate.

Originality/value

This study fills the research gap on incentive and supervision of technological innovation in megaprojects. The externality of innovation benefits is considered in the model. The traditional incentive model is extended through the introduction of supervision. Furthermore, a novel supervision method based on risk assessment is proposed. The results validate the importance of risk management in technological innovation and provide a new insight for project management.

Details

Engineering, Construction and Architectural Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0969-9988

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Article
Publication date: 14 June 2013

Bo Edvardsson, Gloria Ng, Zhi Min Choo and Robert Firth

Research suggests that service‐dominant designs are superior to goods‐dominant; but why? The purpose of this paper is to answer three questions. First, in what way is a…

Abstract

Purpose

Research suggests that service‐dominant designs are superior to goods‐dominant; but why? The purpose of this paper is to answer three questions. First, in what way is a service system based on service‐dominant logic (SDL) superior to one based on goods‐dominant logic (GDL)? Second, which characteristics of the service system facilitate the co‐creation of value‐in‐context as perceived by the customer? Third, how do customers describe the contents of these characteristics?

Design/methodology/approach

In an experiment, the authors compared two different service systems designed with different mindsets. The experiment was carried out with a group of habitual bus travellers to plan a specific journey using two online service systems by two different organizations; one exhibited a goods‐dominant mindset, and the other a service‐dominant mindset. The subjects' opinions of the two systems were gathered, and sentiment analysis was performed on the opinions to uncover the rationale behind the operational superiority of an SDL‐based system in value co‐creation.

Findings

The sentiment analysis identified three key differentiators: intangibles; operant resources; and information symmetry as the reason why an SDL‐based service system is superior to a GDL‐based system. The study also identified specific attributes linked to the key differentiators that could be built into a service system design and verified during a review of that design.

Originality/value

The paper contributes to research by: showing why an SDL based service system is superior to a GDL based one; proposing guidelines for service system design based on SDL to arrive at a favourable customer experience; and to managers by showing that customers have much to contribute in service development and realisation.

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Article
Publication date: 30 January 2009

Bernt E. Tysseland

The paper has two main aims: to focus on how the spare parts optimization process was conducted in the Norwegian Defence procurement projects that had used the system…

Abstract

Purpose

The paper has two main aims: to focus on how the spare parts optimization process was conducted in the Norwegian Defence procurement projects that had used the system approach based on OPUS10, and whether coordination issues affected the process and results; and to analyse empirical data in order to evaluate whether the theoretical claim of the system approach used through OPUS10, being better than other methods in terms of availability and spare parts investment cost holds up in reality.

Design/methodology/approach

Both qualitative and quantitative methods were used in order to answer the different questions of the study.

Findings

Very few Norwegian Defence projects have used the system approach through OPUS10. Empirical data however comply with the theoretical claims of potential large savings in spare parts investment cost and/or improvement in operational availability. Several organizational factors can explain the lack of use of OPUS10. The most important being lack of resources, lack of a centralized concept and a somewhat low‐project leader attitude towards the approach.

Research limitations/implications

The study of Norwegian Defence cases makes generalizations of findings not applicable. The research model could however easily be transferred and utilized in the study of other organizations' spare parts optimization processes.

Practical implications

The Norwegian Defence should alter their concept for project governance and management in order to gain the full potential of the system approach used through OPUS10.

Originality/value

Few research papers have evaluated the promising theoretical findings of system‐based optimization based on empirical operational data. Even fewer, if any, studies have used a combination of factors from organization theory, economic organization theory and operation management theory in order to explain findings based on predefined hypotheses. This research should have value for both practitioners and researchers within the field spare parts optimization in general and systems management in particular.

Details

International Journal of Physical Distribution & Logistics Management, vol. 39 no. 1
Type: Research Article
ISSN: 0960-0035

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Article
Publication date: 2 October 2009

Bernt E. Tysseland

The purpose of this paper is to determine how a small country's military force and a small country's non‐governmental organization (NGO) plan for and set up equipment…

Abstract

Purpose

The purpose of this paper is to determine how a small country's military force and a small country's non‐governmental organization (NGO) plan for and set up equipment maintenance, spare parts inventories in connection with man‐made humanitarian disasters. Additionally, it seeks to determine how the physical context, organizational structure and governance affect the planning and set‐up.

Design/methodology/approach

A research model that combines organizational theory with spare parts inventory theory is developed. Case study research methodology is used and observations and findings are discussed within the research model in order to answer predefined hypotheses.

Findings

Regarding planning procedures, as well as how the maintenance concept and spare parts inventory are set up, the research concludes that the organizational structure and governance of the organization contributing to the humanitarian operation in question are more important than physical context of the operation itself. Further it is concluded that the maturity level, when it comes to inventory control issues, is different for the two cases in question. None of the cases, however, utilize modern optimization methods and tools.

Research limitations/implications

Qualitative data from the two case studies give the possibility for in depth analysis of the case study findings. Lack of quantitative data means that it has not been possible to statistically reject or accept the hypotheses. More research is needed to present a template and/or processes based on the findings in the research.

Practical implications

By applying the research model developed in this study, organizations that contribute to humanitarian disasters could more easily assess their own possibility for effective maintenance and spare parts inventory planning and set up.

Originality/value

The study of the planning and set up of maintenance and spare parts inventories for both military and NGO players in connection with a man‐made humanitarian disaster is new. Further, the development of spare parts inventory theory into organizational theory is relatively new. Limited research is available within this field. The paper should be of interest to both practitioners and researchers within the field of maintenance and spare parts inventories in general, and in connection with humanitarian disasters in particular.

Details

Management Research News, vol. 32 no. 11
Type: Research Article
ISSN: 0140-9174

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Article
Publication date: 9 May 2016

Hua Song, Kangkang Yu, Anirban Ganguly and Rabia Turson

The purpose of this paper is to examine the effect of small and medium enterprises (SMEs)’ supply chain network on influencing credit quality, or more specifically…

Abstract

Purpose

The purpose of this paper is to examine the effect of small and medium enterprises (SMEs)’ supply chain network on influencing credit quality, or more specifically, whether bridging tie (structural network) or strong tie (relational network) of SMEs in the supply chain can improve the availability of equity and debt capital through information sharing.

Design/methodology/approach

A survey was conducted in manufacturing industry in China and 208 valid questionnaires were used to test all the hypotheses. The data were then analyzed by employing partial least squares path modeling.

Findings

The results suggest that both strong tie and bridging tie of SMEs can lead to a positive effect on information sharing in supply chain, which can further enhance the credit quality for SMEs. However, without information sharing, the strong tie has not significant influence on SMEs’ credit quality, while bridging tie can directly impact on credit quality.

Originality/value

Despite their crucial role in sustaining national economies, SMEs are beset by the critical constraint of risk-free financing. Based on a survey, this research finds that the credit quality of SMEs is affected by two important factors: one concerns information sharing in supply chain and the other relates to the attributes of SMEs’ supply chain network. This study implies that a SME may have a financing advantage for better embedding in the supply chain network, but different effects will be experienced according to constraints associated with information asymmetry in the supply chain.

Details

Industrial Management & Data Systems, vol. 116 no. 4
Type: Research Article
ISSN: 0263-5577

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Article
Publication date: 11 February 2014

Sanjay Sharma and Aniket Ghosh Choudhury

– The purpose of this exploratory study is to highlight the stages in the relationship which eventually lead to an integrated logistics alliance.

Abstract

Purpose

The purpose of this exploratory study is to highlight the stages in the relationship which eventually lead to an integrated logistics alliance.

Design/methodology/approach

The stages involved in the evolutionary process have been explained with the help of concepts of mental models and knowledge-related asymmetries. The study has been justified by applying multiple case research design which involves examples of successful logistics alliances.

Findings

The analysis using case study approach provides a detailed overview how third-party logistics providers develop successful relationships with different industry firms over a period of time which eventually lead to innovations benefiting both the partners.

Research limitations/implications

In the paper, a qualitative case study methodology has been adopted which is limited in nature when compared to quantitative approach. Nevertheless, the multiple cases discussed in the paper involve organizations from diverse sectors thus providing a holistic perspective and adding value to the current strategic alliance literature.

Practical implications

The complete understanding of the concepts discussed in this paper will help companies revisit their business strategies and identify areas of improvements in their current engagement practices with third-party logistics providers.

Originality/value

Many a time, relationships fail to develop into an alliance and research related to the attributes causing these failures might be limited. In the past, though many papers have talked about strategic alliances between third-party logistics providers and customers, little has been discussed about how such relationships evolve into successful strategic alliances.

Details

Strategic Outsourcing: An International Journal, vol. 7 no. 1
Type: Research Article
ISSN: 1753-8297

Keywords

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