Navigating Economic Turbulence: Property Tax Reassessment Cycles as a Strategic Financial Management Tool During Recessions

There is no doubt that strategic management tools and techniques are important parts of the strategic management process. Their use in organizations should be observed in a practice-based context. This paper analyzes the empirical studies on the usage of strategic management tools and techniques. Hence, the main aim of this study is to investigate and analyze which enterprises, according to their country development level, use more strategic management tools and techniques and which of these are used the most. Also, this paper investigates which strategic management tools and techniques are used globally according to the results of empirical studies. The study presents a summary of empirical studies for the period 1990–2015. The research results indicate that more strategic tools and techniques are used in developed countries, followed by developing countries and fewest in countries in transition. This study is likely to contribute to the field of strategic management because it summarizes the most used strategic tools and techniques at the global level according to varying stages of countries’ economic development. Also, the findings from this study may be utilized to maximize the full potential of enterprises and reduce the cases of entrepreneurship failures, through creating awareness of the importance of using strategic management tools and techniques.

reschovsky@lafollette.wisc.edu The property tax is the mainstay of local K–12 education revenue. Public schools derive over 80 percent of their local own-source revenue from the property tax (Reschovsky 2014). At the same time, nearly half of total property tax dollars collected in the United States is used to finance public elementary and secondary education (U.S. Census Bureau 2013, 2014). This close link between property taxation and school finance is one motivation for this special issue. Another motivation is the state and local fiscal aftermath of the Great Recession. Over the past few years the financing of public elementary and secondary education has become particularly challenging. In real per pupil terms, total revenues devoted to public education fell by 6.2 percent between the 2008–09 and 2011–12 school years.2 Although comprehensive revenue data are not yet available for the most recent years, existing evidence points to a continued decline in financial support for public education. Data from the U.S. Census Bureau’s Quarterly Summary of State and Local Tax Revenue indicate that per capita real local government property tax revenues (for school and non-school purposes) declined by 3 percent between fiscal years 2011 and 2013 (Collins and Langley 2014). And a survey conducted by the Center on Budget and Policy Priorities found that in 33 states, real

This paper is one of the few studies to review the empirical literature on strategic management tools and techniques usage. There are many techniques, tools and methods, models, frameworks, approaches and methodologies, available to support strategic managers in decision making. They are developed and designed to support managers in all stages of strategic management process to achieve better performance. Management schools provide knowledge of these tools. But their use in organizations should be seen in practice‑based context. Consequently, some questions arise: Do they use these strategic tools and techniques in their workplace? Which strategic tools and techniques are used more in organizations? To answer these questions we have made a review of empirical studies using textual narrative synthesis method. Initially, this study presents a tabulation with a summary of empirical research for the period 1990–2015. The included studies are organized clustering them by enterprise size and sector and by country level development. A synopsis of the ten most used strategic tools and techniques worldwide resulted as follows: SWOT analysis, benchmarking, PEST analysis, “what if” analysis, vision and mission statements, Porter’s five forces analysis, business financial analysis, key success factors analysis, cost‑benefit analysis and customer satisfaction.

it-wen Institute of Business and University of California, Economic Research Berkeley CENTER FOR REAL ESTATE AND URBAN ECONOMICS WOBKINGIPAPER SERIES These papers are preliminary ‘ ature; their purpose ' limul discussion comme . h re. they are not to be ' or quoted ‘ ny publication without express permission of the author. WORKING PAPER NO. 80-11 THE IMPACT OF PROPOSITION 13 ON HOUSE PRICES IN NORTHERN CALIFORNIA: A TEST OF THE INTERJURISDICTIONAL CAPITALIZATION HYPOTHESIS by Kenneth T. Rosen

Objectives: Effective and efficient implementation of all elements of strategic management is important for health organizations to achieve their future goals. This study aims to examine the knowledge levels of hospital managers about strategic management tools, their usage of these tools, and the priorities and needs in tool selection. Materials and Methods: The population of the study is the managers working in private hospitals in Antalya Province. 90 managers constitute the sample of the study. The data were collected by face-to-face questionnaire method. The questionnaire includes sociodemographic characteristics form and statements to measure the level of knowledge and use of strategic management tools. Mann Whitney U and Kruskal-Wallis tests were applied to examine the differences between groups, and Spearman Correlation Analysis was applied to examine the relationships between variables. SPSS.25 Package Program was used to analyze the data obtained. Statistical significance was accepted at 0.05 level. Results: 59% of the participants were female, 63% had a bachelor's degree, and the majority (41%) were middle managers. Those who did not receive managerial training and strategic management training were the majority (54% and 71%, respectively). When the knowledge level of the managers about strategic management tools was analyzed, mission and vision (98.9%) received the highest score, and value chain analysis (73.3%) received the lowest score. It was observed that the priorities of the administrators in the selection of strategic management tools were different between the groups according to gender, level of education, and type of school graduated from. In addition, statistically significant relationships were found between the priorities in the selection of strategic management tools and age, professional experience and years of working in the organization. Conclusion: Managers have limited knowledge and use of strategic management tools and there are differences in the selection of strategic management tools according to their sociodemographic status.

The balanced scorecard (BSC) in Fig. 4.1 is a strategic planning and performance management tool and was first introduced by the accounting academic Dr. Robert Kaplan and business executive and theorist Dr. David Norton. It was first published in 1992 in a Harvard Business Review article (Helmold, 2019). Dr. Kaplan and Dr. Norton took previous metric performance measures and adapted them to include non-financial information. The BSC is the performance metric used in strategic management to identify and improve various internal functions of a business and their resulting external outcomes. It is used to measure and provide feedback to organizations. Data collection is crucial to providing quantitative results, as the information gathered is interpreted by managers and executives, and used to make better decisions for the organization. The BSC system connects the strategic elements like mission, vision, core values, and strategic objectives with the more operational elements such as performance measures, key performance indicators, targets, and actions (projects that help you reach your targets) of the enterprise or organization (Kaplan & Norton, 1992, 1996). The BSC suggests that management views the organization from four perspectives in order to develop objectives, measures (KPIs), targets, and initiatives (actions) relative to each of these points of view:

This study aims to determine whether public and private hospital executives have knowledge of strategic management tools, what strategic management tools they use, to what extent they are satisfied with these tools and what tools they consider using in the future. The research data were collected via a survey form through face-to-face meetings. The research results generally indicate that private hospital executives use many more strategic management tools than public hospital executives. Moreover, the great majority of strategic management tools tend to be used more by executive directors, who have received training in strategic management and those who perceive themselves as being in a competition. This study indicates that the hospital executives who participated in the study do not have sufficient knowledge of the strategic management tools that constitute the basis of strategic management practices. Therefore, hospital executives should be trained in effective use of strategic management. In particular, former doctors turned medical executives who have not received training on management should be provided with appropriate knowledge of strategic management tools through in-service trainings and various courses, certification programmes and seminars. This will increase their use and understanding of these tools.

This research focused on strategic management techniques and how these techniques are applicable to small and medium enterprises. The use of generic or specific strategic management tools and techniques among small and medium size businesses has had insignificant value because strategic application are thought in terms of for only larger companies. This paper examined the benefits of using strategic tools and techniques to companies seeking profits and growth. This research also supports how strategy can improve performance of small and medium businesses. Qualitative research was used for this study to determine if there was a correlation between strategic management, market share, and profitability. Case studies were also examined to support any claims that small and medium size companies benefited from strategic management tools and techniques in their organization.

The article examines strategic areas of ensuring financially sustainable development of enterprises in Ukraine. It proves that the main problem of financial stability of Ukrainian enterprises is the high level of accounts receivable. It presents challenges of ensuring financial stability of local enterprises and offers strategic tools for ensuring financial stability of enterprises. One proves that strategic management of financial stability should take into account not only financial management goals and a type of financial policy but also a kind of financial stability common to the enterprise as of today. Areas of ensuring financial stability using strategic financial management tools include the selection of the target structure of current asset financing, the establishment of principles of cost management policy optimization (relevancy, minimization, planning), which allows specifying measures for gaining targeted financial stability of enterprises. Keywords: strategic areas, enterprises, financial stability, strategic management, financial policy, financial management.

Application of strategic management (SM) tools has been addressed by various researchers. Some of them aimed at defining it, while others discussed the suitability of certain tools for management practices used by specific organisations. The scope of these studies varied from one to several countries. Such variation of research contexts suggests the multidimensional nature of this issue. A number of studies addressed the aspects of SM tools’ application in organisations of different types and sizes. This paper discusses the experience of Lithuanian managers in application of various SM tools. Research findings are based on the questionnaire survey aimed at uncovering respondents’ views, attitudes towards and experience of application of twelve SM tools in business practice. To ensure statistical comparability the proportion of SME managers was reduced to 89 percent of the entire sample, while SMEs constitute 99.7 percent of all Lithuanian businesses. This enabled us to compare the experience of managers of big companies with that of managers of SMEs. The responses were validated using psychometric statistics and consistency analysis, which enabled achieving relatively high psychometric quality of the results. The structure of the questionnaire and the indicators of the psychometric quality generated by cluster analysis resulted in classification of the SM tools into two relative groups. The latter were subjected to qualitative interpretation taking into account the logical links of the cluster components and the percentage of approval. The questionnaire consisted of semi-open questions. The data they produced was processed using the manifest and hermeneutic content analysis methods. The manifest content analysis revealed the areas of application of specific tools, while hermeneutic content analysis allowed relating managers’ responses to specific attitudes towards strategic management. Analysis also revealed the SM tools, which are applied by Lithuanian managers most frequently, and whether they are applied correctly.

During the last few decades, strategic management and strategic human resource management theories have received a great deal of attention in many industrial sectors. The complex and constantly changing business environment has driven large construction companies more than ever before to reflect on the interplay between their organisational strategies and their strategic management processes, tools and techniques. This is despite the great value of human capital for an organisation’s strategic flexibility within different sets of environmental evolutions. This includes people in various positions, administrative, professional, managerial and unskilled, as well as numerous project stakeholders. Several researchers are increasingly interested in applying strategies and human-related studies within the construction industry; however, an integrated study of these two factors has been notably lacking, particularly in an airport context where the challenges and difficulties of managing construction projects are high. This doctoral thesis contributes to the existing literature by exploring the unique characteristics of an airport construction environment, along with reporting the findings of the impact that different airport ownership forms have on construction management efficiency. Through integrating numerous theories and concepts associated with project strategies, strategic human resource management and various efficiency management attributes, this research project presents a unique strategic framework that offers a structured approach to support airport holding bodies. Research primary data were collected following semi-structured interviews with senior construction project managers of airport operators within three distinct airport organisations in terms of their ownership structures. The resultant findings provide insight into the many differences between the case studies in term of project management practices. Furthermore, an explanation of the key practices that influence the occurrence of project success were identified. This doctoral investigation identified there is a need for flexibility and scalability aligned with adopting the strategic framework and engaging its conceptual application with actual management and controlling practices. In essence, the research framework was developed for each category of airport organisation, where an airport organisation is encouraged to focus its efforts on managing the most important framework components which are needed for effective improvement of management practices and, accordingly, to achieve expectations. The resulting theoretical framework provides a unique tool for airport operators to apply their project management knowledge effectively in order to realize complex projects and to secure potential efficiency gains. This study therefore provides a novel theoretical insight into the strategic management of human resources during airport construction projects. The primary application of the strategic framework is concerned with managing and controlling existing airport construction projects, particularly refurbishment or extension projects, however this could be also applied to new airport construction projects where the factors affecting strategic management and strategic human resource management anticipated to be different to those studied during this investigation. This has paved the way for future investigations to be conducted to tackle this dichotomy and further understand the intriguing aspects of airport construction business.

The importance and benefits of strategic management in the business sphere are declared in studies worldwide. It represents an extensive area for research. The purpose of this paper is to evaluate the strategy formulation activities as well as the strategic management tools and techniques used by Slovak companies. Data on 365 manufacturing companies were obtained through an online questionnaire during 2020–2021. Selected methods of inductive statistics helped to analyze the data (the Pearson chi-square test and interval estimates for population proportion). The results show that the potential of analyzed strategy formulation activities is not filled in the Slovak companies. Enterprises only perform certain activities, and attention is focused mainly on setting strategic goals. It prevails a small orientation to sustainable development in strategic goals (only 22% of enterprises). The most used strategic management tools and techniques consist of an analysis of company resources, SWOT analysis, and customer satisfaction. From the point of view of the manufacturing area, no significant differences are defined in the use of the tools. The future management directions should include a variety of strategic management tools from the external environment. At the same time, the given tools should be supplemented with newer strategic tools ensuring flexibility and adaptation to dynamically changing conditions. AcknowledgmentWe wish to thank project VEGA: Scientific Grant Agency of the Ministry of Education, Science, Research and Sport of the Slovak Republic (Project No.1/0093/23 Research on the circular economy potential in the Slovak business environment in the production of innovative products based on recycled materials wood – rubber – plastic).

PurposeThe purpose of this article is to provide commentary on the utility of Altman's Z‐score as a strategic assessment and performance management tool. This possibility is suggested in the recently published book Measuring Organizational Performance – Metrics for Entrepreneurship and Strategic Management Research (Northampton, MA: Edward Elgar, 2006) by Robert B. Carton and Charles W. Hofer.Design/methodology/approachThis paper is a corporate manager's analysis of the utility of Altman's Z‐score as a strategic assessment and performance management tool based on published research, with suggestions for further research.FindingsThe analysis supports Carton and Hofer's findings with respect to the utility of the Z‐score as a strategic assessment and performance management tool.Practical implicationsWhile the Z‐score is both popular and widely used in the fields of credit risk analysis, distressed investing, M&A target analysis, and turnaround management it has received relatively little attention as a strategic assessment and performance management tool. The findings of Carton and Hofer's study, in conjunction with the impressive results achieved by GTI Corporation, suggest that applying the Z‐score in strategy and performance management may also be warranted, especially after more research is undertaken.Originality/valueThis article offers a manager's perspective on new research that indicates the potential of a popular financial distress metric to provide insight in the areas of entrepreneurship and strategic management.

In the 2000s, change in the business world and pioneering strategies that shape change are becoming the main conditions for superiority in competition. Until recently the traditional management and organization approaches that are in place are inadequate to meet the new expectations coming from change. The aim of this study is to reveal the extent to which the managers of health institutions have adopted the strategic management approach. In this study, it is explained whether the managers have knowledge about strategic management tools which are the basis of strategic management application methods, what strategic management tools they use, their level of satisfaction with these tools and what tools they intend to use in the future. In addition, the changes in the health management managers in the field of strategic management, the priorities in the selection of strategic management tools, the importance of strategic thinking and the effects of strategic management understanding on performance are examined.

Under conditions of uncertainty caused by sanctions and geopolitical changes, the correct choice of both strategic development priorities and management tools for their implementation becomes important. Given the global trend towards digitalization and the growing supply from software developers, it is necessary to understand clearly, which software products and for what purposes can be used effectively at specific enterprises. The challenge here is that due to instability, sanctions pressure, and withdrawals of foreign software from the Russian market, enterprises are forced to change business and technological processes, and to look for new tools for implementing development strategies. The purpose of the article is to determine the basic principles for choosing strategic management tools and information technologies as elements of strategic management at enterprises in the context of digital transformation. The article shows that due to the ongoing digitalization of industrial enterprises any tools for implementing the strategies must be considered within the framework of an automated process management model. It can be based on various information technologies or platform solutions, depending on the coverage of enterprise business processes, and the readiness to adopt digital technologies in strategic and operational management. The modern trend is to implement strategic development directions, relying on the internal ecosystem of the enterprise. Making the right choice of information technology within an enterprise ecosystem requires that technology investments are aligned with the company’s business goals, adaptable to changing needs, can integrate with existing systems, are user-friendly, secure, and provide a short-term return on investment. Ultimately, these principles enable businesses to successfully navigate the digital transformation journey and leverage technology as a strategic enabler for sustainable growth.