Strategy definition is an elementary key of success and should be present in any industry, but an extra attention is paid to the automotive field. Thus, strategy definition and cascade in the ...organization is needed to drive the organization in the right direction, in the desired direction and ensuring the commitment, involvement of the employees.
This paperwork presents a case study from automotive industry, of applying Operational Balanced Scorecard methodology, under Company Strategy Deployment unique and personalized approach to company needs. A systemic outlook and an appropriate involvement support the company's continuous improvement efforts.
The introduction presents general information on the Total Performance Scorecard and its ad-vantages. Going forward, the Company Strategy Deployment approach of the mentioned tools are described, showing in parallel the evolution of the implementation in an automotive respectable company. The paper ends up with the formulation of conclusions regarding the deduced effects.
Company leaders have different potential and planning strategies. To develop a company requires leadership and team support. Many of the work teams do not experience positions alternately so that it ...affects the company's performance commitment. the research method uses library research by collecting several leadership theories and company The purpose of this study is to analyze the leadership model of the exchange of working team members to develop private companies in Indonesia. The results of the study explain that a company led by an entrepreneurial spirit, charismatic, democratic model is able to improve team performance so that the company can develop quickly through planning strategies and periodic evaluations from leaders and members of the work team. To thrive in the future and be profitable, teams and organizations can work alternately in a job title in a team member exchange leadership system.
This study explores the process of transferring knowledge from multinational-corporation (MNC) hotels to their subsidiaries to advance company strategies. In particular, it examines critical factors ...that can forestall knowledge transfer through the lens of absorptive capacity. This study revisits the four dimensions of absorptive capacity (acquisition, assimilation, transformation, and exploitation) to understand the challenges involved in transferring knowledge from MNCs to subsidiaries. We argue that several fundamental aspects of the process influence absorptive capacity, potentially interfering with knowledge transfer. Using a qualitative approach, semi-structured interviews were conducted with four different types of actors (expatriate and local managers, a regional executive, and a policymaker). The results reveal that competencies (e.g. education) regulate the process of acquiring knowledge, while insufficient experience (technical skills and expertise) and historical background (explicitly related to the consequences of colonisation, including a local inferiority complex) affect the assimilation and transformation of knowledge. Next, limited opportunities, notably a reluctance to hire local managers and local managers with uneven qualifications, affect transformation and exploitation. Finally, cultural discord (e.g. recognising cultural differences, such as ethnic groups, religion, and customs) and communication barriers (e.g. verbal and non-verbal communications) influence the acquisition, assimilation, and transformation process, which, in the end, arbitrate knowledge exploitation. The findings suggest that the country's historical experience has considerable ramifications for absorptive capacity.
•The effectiveness of knowledge transfer is dependent on the sufficient absorptive capacity of the recipients.•Some critical factors in absorptive capacity could forestall the knowledge transfer process.•The insufficient absorptive capacity could affect the management selection process in MNC subsidiaries.•Historical background (i.e., colonisation) affects the knowledge transfer process in developing countries.
The study of the role of digital implementation in increasing earnings before interest, taxes, depreciation and amortization (EBITDA) in portfolio companies of private equity funds is a topical issue ...for the development of strategies and competitiveness. Thus, the main purpose of the study was to determine how private equities increase EBITDA in the portfolio companies via digital enablement. For the purpose of understanding the role of digital enablement strategies in value creation, the critical realism research paradigm was identified as the best-fit philosophy. The critical realism approach was chosen because it advances research methodologies through the development of a qualitative theory of causality. A sample of 26 respondents was used with semi-structured interviews being conducted. The data analysis process involved the identification of 3 themes through thematic analysis. Three themes were identified, namely new digital capabilities to improve top-line growth, driven by the Head of Strategy/Head of Department, and transformative initiatives. The results from all three themes indicate that digital enablement is useful in improving private equity firm revenue and EBITDA levels through digital transformation, improved customer engagement, and identification of market opportunities towards digital data capabilities. The findings show that redefinition is critical to improving EBITDA, as it challenges the existing model and provides a forward-looking approach to strategy formulation. Digital enablement strategies are an unexplored area in the context of private equity firms. The strategies are momentous in improving revenue levels and competitiveness while accentuating the EBITDA rates by cost reduction. The results of this study will be of practical use to both businesses and other economic entities
The purpose of the article shows that formulating a strategy is an important and necessary process because it helps to unite the efforts of many people and, through their coordinated work, achieve ...the set purposes: how to achieve the goals, what to do and how to direct the efforts of the company and its individual employees determines the strategy of the company. The problems that organizations face and how they can be solved are highly relevant in today's economy. Methodology. A scientific approach to solving problematic issues allows us to model possible situations and avoid negative consequences due to the wrong strategic policy of the organization. The main purpose of this article is to identify methodological approaches to the evaluation of the characteristics, properties of the enterprise development strategy and the introduction of classification strategies based on the performance indicators of enterprises that characterize the effectiveness of their functioning in the market. Results. Changing the environment in which an enterprise operates in a market economy forces the company to adapt to new conditions, that is, to formulate its strategy. Increasing the intensity of production, the maximum use of financial and labor resources, determine the need for new methods and approaches, that is, the strategy of enterprise development. In a competitive market, it is impossible to be successful by providing low-quality services or offering low-quality goods. Before developing business management processes, a functional strategy must be developed. Practical implications. Strategies at any level usually do not have resources or the ability to use resources in such a way as to ensure complete confidence in success. As a result, the final and important criterion is the risk assessment of less than the achievement of strategic goals. Acceptance of unavoidable risks is part of the work of strategists in the modern world, and the ability to clearly articulate the nature and extent of risk is the first step in reducing its impact. If the risk is defined as unacceptable, it is necessary to revise the tasks, changes in concepts, increase resources, or some complex of these actions. Improvement of the regulatory framework of strategic planning should include mechanisms, a number of regulatory documents and bills, the adoption of which will be carried out by the scientific and technological development of enterprises. The proposed specification of factors that influence the choice of strategy, the comparative characteristics of management systems, the proposed ways to increase the set of decision-making rules will help determine the main areas of activity of the enterprise.
The purpose of the article is to study the essence of the quality of working life as a method of managing a company; comparison of the quality of working life in Ukraine and South Korea; coverage of ...modern approaches to its development. As a result of the study, it is emphasized that the quality of working life, as a method of managing a company, is aimed at designing and creating a comfortable working environment for employees at all levels. The quality of working life is associated not only with satisfied employees, but also with the best business results. The latter are associated with the intellectual capabilities of employees. When the quality of work and life is stable, productivity surely will be increased, too. A comparison of approaches to the quality of working life in Ukraine and South Korea is made, allowing to conclude about the common and the different. It is defined that a very big difference lies in the attitude of personnel to work and etiquette rules between the staff in Ukraine and in South Korea. Korea has the highest rate of aging population among countries that are members of the OECD. At the same time, not only employees need to change, but also employers should develop a holistic well-being strategy for the future. Not taking this into account in the country’s social policy will slow economic growth, exacerbate inequality and weaken welfare, and call into question the sustainability of public finances and social well-being. The standard of quality of working life at Korean enterprises is supported by laws. Domestic employers, as a rule, introduce disparate and unsystematic measures that meet only the current needs of employees. It is determined that the COVID-19 crisis has provoked increased attention to the protection of the most vulnerable workers. It is concluded that the development of social protection of the population has contributed to a more gradual transition from the protection of jobs to the protection of workers, which, together with the enhanced active policy of the labor market, supports employment and productivity growth. Prospects for further research in this direction are to determine the degree of influence of mental and physical health of an individual on the quality of working life.
Initial determination of the payout ratio should be an integral part of each company strategy; it is a cornerstone of a long-term operation of any company. The aim of this contribution is to analyse ...the possibilities of determining the payout ratio of the company using dividend models and to design the most optimal application of the dividend model, and to define the limitations for the application. The data required for the application of the dividend models are obtained from the annual reports of Komerční banka, PLC. for the years of 2006-2018. The obtained data are used to calculate the classical payout ratio model, and subsequently to determine the payout ratio according to the Lintner model. Using the method of comparison, the obtained results for the application of the pay ratio are contrasted. The classic payout ratio model coincided directly with the results of the payout ratios of Komerční banka, PLC. and therefore turned out to be optimal for the application. The Lintner model is considered in literature to be very well functioning. However, this research confirmed that the resulting values of payout ratios after the application of the Lintner model are unacceptable in the long run.
There is a significant potential to improve the benefits from public procurement through a better understanding of drivers in company success at the micro-level, an area that has received little ...study to date. To increase these impacts on innovation and markets, policy makers have opened procurement to innovation, including the strategic incorporation of formal standards in calls for tenders. Consequently, companies offering innovative solutions should have higher chances to be successful in public tenders. In addition, companies who engage in standardization activities at standards development organizations may have a competitive advantage in submitting tenders. Examining the case of Germany, this paper empirically investigates the effects of German manufacturing companies’ innovation activities and their engagement in national standardization on the receipt of contracts within domestic procurement competitions. The results of our empirical analyses based on German companies surveyed within the framework of the Community Innovation Survey show that being successful in product innovation and being engaged in standardization are significant positive predictors of companies’ success in public procurement. With implications for policy-makers and practitioners, this shows that public procurement is indeed open for solutions from companies active in innovation and standardization.
In the context of uncertainty, the problem of insufficient economic involvement of the Russian population is becoming increasingly acute, and it should be resolved to stimulate the country’s ...technological development. At the same time, the state administration ignores the significant potential of serial entrepreneurs in setting up new companies. The paper assesses the strategies followed by serial entrepreneurs when creating innovative business and develops their typology. The theories of entrepreneurship and strategic management, as well as the concept of serial entrepreneurship constitute the methodological basis of the study. Among the research methods are retrospective, case and indicative analysis. The information base includes the data retrieved from the SPARK database on the activities of Russian technology entrepreneurs included in the TechUspekh-2019 ranking. The article provides a comprehensive definition of serial technology entrepreneurship embracing its two varieties – sequential and parallel entrepreneurship. Based on retrospective analysis, the authors formulate their own typology of strategies for setting up innovative companies by serial entrepreneurs: cross-sectoral non-technological and sectoral technological diversification, sectoral and cross-sectoral search (accumulation). We highlight the importance of establishing subsequent businesses and propose a set of methods for assessing the effectiveness of the strategies. The research results indicate that the strategy “From technological services to production” proves to be the most effective and beneficial in term of cumulative performance. The study empirically tests the assumption about high performance of serial technology entrepreneurs and provides the outcomes achieved by public authorities when introducing the developed recommendations to stimulate positive serial entrepreneurial behaviour.
Purpose
This paper aims to investigate the law and logic mechanism of management control matching pattern and company strategy aggressiveness under different strategies by textual analysis, based on ...the empirical data of Chinese A-share listed companies during the period from 2010 to 2018. Additional analyses further investigate the moderating effect of environmental uncertainty and R&D intensity on the relationship between management control matching type and strategy aggressiveness. The conclusion can help relevant departments to develop management control theory and method system with Chinese characteristics and provide theoretical reference for the matching mode of dual control.
Design/methodology/approach
This paper uses the text analysis method. The main explanatory variables are analyzed using the computer SQL Server database software through the relevant text of the board of directors report in the company annual report. Other financial data came from the CSMAR database, excluding ST and PT and companies with missing data, and 16,902 samples were finally obtained. This paper conducted statistical analysis through Stata12.
Findings
This paper shows that the matching pattern between formal and informal control is divided into three types. They have different impacts on strategy aggressiveness. Specifically, consistent matching type II significantly positively influences the aggressiveness of offensive strategy. Consistent matching type I significantly positively influences the aggressiveness of defensive strategy. Complementary matching type I significantly positively influences the aggressiveness of analytical strategy. Additional analyses find that compared with non-high-tech companies, high-tech companies have more significant influence on the relationship between management control matching pattern and company strategic aggressiveness. And compared with other two “strategy-control” matching patterns, both environmental uncertainty and product innovation have more significant influence on the relationship between consistent matching II and offensive strategy aggressiveness.
Originality/value
To the best of the authors’ knowledge, this paper divides the formal and informal control matching patterns of management control into three categories for the first time. It examines the relationship between the formal and informal control matching of management accounting and the degree of strategy aggressiveness. The conclusion provides new empirical evidence to promote the effective implementation of development strategies for companies. It can help relevant departments to develop management control theory and method systems with Chinese characteristics and provide theoretical references for the matching mode of dual control.
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