Emphasizing customer satisfaction as a strategic lever for enhancing business performance is a widespread business practice. However, just over 25 years of empirical studies by academic researchers ...has produced evidence that is sometimes contradictory. Hence, greater academic clarity and improved managerial understanding could result from a meta-analysis of the customer satisfaction-business performance relationship. To that end, the authors analyzed 251 correlations from 96 studies published between 1991 and 2017. While the satisfaction-performance relationship is positive and statistically significant on average (
r
= .101), more meaningful insights emerge from the explication of moderating and mediating relationships. Illustrative of these insights is the finding that satisfaction is more appropriately depicted as mediating the effects of selected marketing strategy variables on firm performance outcomes. Moreover, when satisfaction is viewed in the right setting using the right satisfaction and performance measures, a most favorable contingencies (MFC) perspective, the estimated correlation is reasonably strong (
r
= .349).
Innovation seems to be a fundamental requirement for the growth and sustainability of small businesses. While previous research revealed a strong correlation between intellectual capital and ...performance, the role of intellectual capital in facilitating the innovativeness and performance of a firm has not been thoroughly examined in the small and medium-sized enterprise (SME) context. This study examines the role of innovativeness in the intellectual capital and organizational performance relationship using a sample of small firms. The results of a survey conducted on 460 small business owners indicate a positive relationship between two components of intellectual capital, human capital and organizational capital, and organizational performance. Further analysis finds that innovativeness partially mediates the relationship between intellectual capital and organizational performance. Our findings indicate that efficiently and effectively organized firms can leverage well skilled and innovative employees to achieve the best performance through innovation.
Introduction: There has been substantial increase in the number of medical colleges along with student enrollment necessitate a need for improving the quality of medical education in India. This led ...to the development of accreditation and ranking system for medical institutions. Key performance indicators (KPIs) for medical institutions can be determined by parameters considered for accreditation and ranking of medical institutes. KPIs for medical institutions are set of quantifiable measurements used to analyze long-term performance and progress of the medical institutions. KPIs provide a focus for strategic and operational improvement, create an analytical basis for decision-making, and help focus attention on parameters that matter most in improving the quality of teaching and learning resources and patient care services provided by the medical institutes.
Methodology: A descriptive and quantitative study was conducted to compare secondary data of three premier medical institutions of India, namely, All India Institute of Medical Sciences, New Delhi; Post Graduate Institute of Medical Education and Research, Chandigarh; and Sanjay Gandhi Post Graduate Institute of Medical Sciences, Lucknow. Baseline for KPIs was designed based on the parameters included in external accreditation and ranking, namely, National Accreditation and Assessment Council Accreditation, National Institutional Ranking Framework Ranking, National Accreditation Board for Hospitals and Healthcare Providers Accreditation, and National Accreditation Board for Testing and Calibration Laboratories Accreditation.
Observations and Results: Teaching and training identify four KPIs, annual intake of undergraduate students per hospital beds, annul intake of postgraduate students (DM/MCh/MD/MS degree, DNB, Diploma, Certificate programs, Fellowships, PhD) per hospital beds, annual intake of nursing students expressed as ratio of available hospital beds, and annual intake of paramedical and allied students (diploma, degree, pharmacy, etc.) expressed as ratio of available hospital beds. Patient care includes annual outpatient department consultations including casualty (old + new) expressed as ratio of available clinical faculty, annual In-Patient Department (IPD) admission expressed as ratio of available hospital beds, and annual surgeries conducted (operations and procedures) expressed as ratio of available surgeons. Research and publications include total number of extramural projects currently running expressed as ratio of faculty, total amount of extramural grant expressed as ratio of faculty, and total number of indexed research publications per faculty.
Conclusion: The KPIs are absolute necessity due to increase in number of medical colleges across the country. KPIs provide a focus for strategic and operational improvement, create an analytical basis for decision-making, and help focus attention on what matters most to enhance the quality and performance of the medical institutes and subsequently uplift the quality of health-care services across the country.
The challenges of servitization have gained significant attention from both academics and practitioners, as more firms in the industrial sector are seeking marketing opportunities leading to business ...growth through the adoption of a service strategy. Although existing research has explored its challenges from multiple perspectives, this is largely fragmented and the studies offer little understanding of the impacts of the challenges on the realisation of servitization benefits and improvements in business performance. This study, therefore, aims to create a formal construct of the challenges and develop a set of hypotheses through a systematic review of the servitization literature to build a theoretical model explaining the underlying relationships. Five challenges are identified: organisational structure, business model, development process, customer management, and risk management. The indicators of each challenge are discussed to support the establishment of hypotheses. This study contributes to the current body of knowledge by reaching a clear conclusion from the fragmented literature and brings together five challenges to explore their impacts on the overall business.
•This paper aims to investigate the challenges of servitization through a systematic review of the relevant literature.•Five strings of servitization challenges are identified as a result of the review.•These challenges have negative impacts on the realisation of expected benefits and improvement of business performance.•A theoretical model is created to illustrate the correlations among the challenges, benefits and firm performance.
ABSTRACT
Studies analyzing the business performance of small and medium-sized enterprises are high in number and
importance. Throughout the years, a vast number of variables have been introduced to ...explain what causes
the observed difference in the business performance of small and medium-sized enterprises. However, many
previous studies looked at only linear effects of such variables, while neglecting potential non-linear aspects.
This study tried to fill that gap in the literature by using both linear and quadratic effects of well-established
variables in the literature. By using linear regression on a sample of 245 small and medium-sized enterprises,
this study reports that entrepreneurial experience has a significant quadratic effect, while gender has a
significant linear effect on business performance. Based on the employed methodology and results, limitations
of this study and avenues for future research were outlined.
Abstract This study aims to analyze the factors that affect the business performance of commercial MSMEs in the Tarqui parish of Guayaquil to establish useful strategies in the market. In the study, ...surveys were applied that indicated which factors can help improve the development and growth of MSMEs, which correspond to those that involve the adoption of new technologies, innovation, diversification, and training. Based on the above data, it was proposed to measure their performance through a descriptive study that interprets the perceptions of the owners. The survey was conducted on 50 owners or administrators who answered the questions, which reflected a very low performance of these Mipymes that are concerning, and should be addressed. Therefore, it was decided to propose strategies for Mipymes to position themselves in the market where different points are detailed, such as the training of entrepreneurs, having more facilities to obtain leverage, product diversification, and customer loyalty. Keywords: business performance, strategies, MSMEs, entrepreneurs. Resumen La esencia de este estudio es analizar los factores que inciden en el desempeño empresarial de las Mipymes comerciales en la parroquia Tarqui de Guayaquil, con el fin de establecer estrategias que sean útiles para mejorar su permanencia en el mercado. En el estudio se aplicaron encuestas que nos indicaron que factores pueden ayudar a mejorar el desarrollo y crecimiento de las Mipymes los cuales corresponden a aquellos que involucran la adopción de nuevas tecnologías, la innovación, diversificación y capacitación. En base a lo expuesto se plantea medir su desempeño a través de un estudio descriptivo que interprete las percepciones de los propietarios, la encuesta se aplicó a 50 dueños o administradores que respondieron a las preguntas, que reflejaron un desempeño muy bajo de estas Mipymes lo cual es un peligro muy preocupante, que debería de ser atendido. Por lo tanto, se decidió proponer estrategias para que las Mipymes logren posicionarse en el mercado donde se detallan diferentes puntos tales como la formación de emprendedores, tener más facilidades para la obtención de un apalancamiento, diversificación de productos, y fidelización de clientes. Palabras Clave: Desempeño empresarial, estrategias, Mipymes, Emprendedores.
Organizations are increasingly facing pressure for changing manufacturing models from traditional to sustainable which accordingly reinforces the need for assessing their performance on ...sustainability issues. The present study developed a framework based on concepts of circular economy, sustainable cleaner production and Industry 4.0 standards to assess sustainability performance of manufacturing companies and to guide them in prioritizing investment in potential solutions for enhancing performance on sustainability. The study involved a mix of quantitative and qualitative research methods. An exhaustive review of related literature was conducted, followed by several rounds of discussions (Delphi Method) with experts, to identify and finalize practices related to Industry 4.0, cleaner production and circular economy. Best-Worst Method (BWM) was then used to prioritize identified practices. Majority of the sustainability frameworks in extant literature were validated using the case study approach. The present research combined case study approach with multi-criteria decision making (MCDM) tools, which enhanced applicability of the proposed framework. Findings suggest that circular economy practices are most important for increasing sustainability performance in manufacturing, followed by practices of cleaner production and Industry 4.0. ‘Supply Chain Traceability/Information’, ‘Reuse and recycling infrastructure’, and ‘Natural and clean environment’, were the top three practices identified for manufacturing organizations aiming to enhance sustainability. The findings provide empirical support for adopting practices of the circular economy, cleaner production and Industry 4.0 by manufacturing organizations to improve sustainability performance. The developed framework can be readily used by managers to evaluate their own as well as the upstream and/or downstream partners’ sustainability performance. It also provides policy guidance for promoting sustainability approaches in manufacturing.
Despite their global emergence, sharing economy businesses do not consistently experience favourable outcomes across different geographical regions. Additionally, since the sharing economy is ...considered a contemporary business mechanism, unlike the traditional business model, there is a lack of constructive business frameworks for these businesses to contemplate in order to maintain or advance their business operations. This is particularly the case with respect to emerging economies. Accordingly, our study provides a comprehensive systematic review of the relevant sharing economy literature to determine influential factors and their impacts on sharing economy business performance. Our findings suggest a diverse context classification and research trend within the existing sharing economy literature and, thereby, we conceptualise a sharing economy epistemology to enhance comprehension of the different forces and mechanisms in place. With that, we develop a conceptual model based on the strategy and institutional literature where we uncover differences for emerging markets. Finally, we suggest a future research framework for the sharing economy field.
•This study proposed a new model for hotels’ business performance based on open innovation.•This study identified the relationships between firms’ open innovation performance, service innovation and ...business performance.•A simple random sample of 285 managerial staff in the Pearl-Continental Hotels & Resorts was analyzed using partial least square.•The results of this paper revealed that firms’ open innovation performance had significant contributions to promoting service innovation and business performance.•The results of this study helped hotel management promote service innovation and business performance.
The purpose of this study is to test the relationships between external knowledge, internal innovation, firms’ open innovation performance, service innovation and business performance in the Pakistani hotel industry. A simple random sample of 285 managerial staff in the Pearl-Continental Hotels & Resorts of Pakistan was surveyed. The findings show that firms’ open innovation performance has a positive influence on service innovation and business performance. They also reveal that external knowledge and internal innovation positively influence firms’ open innovation performance and that further leads to service innovation and business performance respectively. This study provides practitioners with firms’ open innovation performance as a tool to enhance business performance while adopting the strategy.
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