Strategic Management Challenges Research Articles

Unraveling the Relationship between Business Strategy and Shareholder Value Maximization

Purpose: This study aims to explore the relationship between business strategy and shareholder value maximization, focusing on the mechanisms that drive value creation and sustainability in the global marketplace. It seeks to integrate various theoretical perspectives and empirical evidence to enhance understanding in this area. Research Design and Methodology: The thematic analysis and narrative synthesis reveal key themes and theories that contribute to understanding the formulation of business strategy and its impact on shareholder wealth. The findings emphasize strategic consistency, resource endowments, and stakeholder engagement as crucial drivers of financial performance and value creation. Findings and Discussion: The study highlights the need for further research to adapt to emerging trends and practical challenges in strategic management and corporate governance. It contributes to ongoing discussions in the field, providing valuable insights for scholars, practitioners, and organizational leaders, and underscores the practical implications of effectively implementing business strategies for maximizing shareholder value. Implications: The study underscores the importance of continuous adaptation and innovation in accounting practices to navigate evolving business environments successfully. Moreover, technological advancements, globalization, and regulatory reforms significantly impact accounting practices and organizational dynamics, presenting both opportunities and challenges.

Globalization challenges of strategic management of the export potential of aviation complex enterprises

In the article, it is determined that the policy of forming the strategy of enterprises to go abroad is an important form of strategic management of the development of the economy, which is aimed at long-term growth of efficiency with the minimization of risks during the optimal use of potential and existing resource limitations. The necessary steps to achieve the harmonization of cooperation between Ukraine and the EU and NATO, the development of the export potential of the enterprises of the aviation complex, the main areas of activity and the ways of their implementation are proposed. European integration is the main and constant foreign economic priority of Ukraine, the implementation of which will allow to improve the conditions for the export of Ukrainian goods in order to present them on the international arena. To solve the above-mentioned problems, it is proposed to implement measures that will increase the competitiveness of the national economy.

Introduction to the Virtual Special Issue: Strategy Science’s Contributions to Doctoral Reading Lists

Introduction to the Virtual Special Issue: <i>Strategy Science</i>’s Contributions to Doctoral Reading Lists

К платформе стратегического управления транспортной инфраструктурой

The challenges of strategic management of the transport infrastructure in the conditions of geopolitical and sanction pressure on Russia are considered. In order to support decision-making concerning its development, it is proposed to use a set of strategic management models successfully applied in strategic planning of the sustainable functioning of the Russian economy, including Siberia, the Russian Arctic and the Far East, as well as in JSC «Russian Railways». The adoption of these and other decisions in the improved model of public administration should be based on the array of data on the conditions of economic entities and internal and external factors affecting them. This requires creation of the national public administration platform. The strategic transport infrastructure management platform should become an integral part of it. As a theoretical basis for its construction, it is proposed to use the theory of large transport systems. On the basis of this theory, a design solution for creation of the strategic transport infrastructure management platform based on the above-mentioned set of models and requirements of regulatory documents is proposed. As an example, one of the subprocesses of the design solution is considered - mathematical modeling and forecasting of the consequences of the onset of new events for transport infrastructure based on the theory of large transport systems. At the same time, the state of the infrastructure is formally determined as a result of the interaction (decision of the game) of interested parties under certain mechanisms of public administration. The solutions of the game of the subjects - users of the transport infrastructure and its efficiency criteria before and after the onset of new events are determined.

DIGITAL MARKETING IN POST-PANDEMIC CONDITIONS

As the COVID-19 pandemic affected the entire world, companies had to develop new techniques and practices to adapt to digital transformation, there came a need for change, for a restructuring of organizational management policy with reference to marketing and communication processes and strategies, organizational procedures, as well as for an awareness of the new technologies that are the bridge towards the online environment. New innovative technologies are the enablers of efficiency and working time reduction, with a focus on automation and systematization. Our aim is to highlight the impact of digitalization on business marketing, the importance of the company’s position and mentality in relation to the current context, as well as the changes in consumer behaviour. The dynamics and fast pace of current trends changes in marketing increase the need to be open about the implementation and adoption of new communication technologies and tools. In this context, organizations must take into account the remodelling of marketing strategies that should be streamlined taking into account intra-organizational and strategic management challenges. Therefore the study aims to outline the implications of digital marketing on the post-pandemic management of companies, and comes up with suggestions related to the allocation of resources in terms of digitalization, that may have a positive impact on improving operational tasks, effectiveness and efficiency through automation.

The challenges of strategic management of the wastage produced due to earthquake in Kermanshah and Varzaghan-Ahar: A qualitative study.

Strategic management of the wastage produced due to earthquakes has faced many challenges over the recent decade. Thus, the present study seeks to identify and explain the challenges in earthquake wastage strategic management. The present qualitative study has been steered through a content analysis approach and conducted using semi-structured interviews and a purposive selection of 17 professors, experts, and managers experienced in the field of waste management in Kermanshah and Varzaghan-Ahar earthquakes over 2020-2021. Besides, the interviews were initially categorized using MAXQDA18 software. Analysis of the experiences and perception regarding the changes in strategic management of wastage produced due to Kermanshah and Varzaghan-Ahar earthquakes revealed 418 codes, 97 subcategories, 33 categories, and 8 main categories including management and leadership, organizational culture, planning, organizational learning, employee management, rules and regulations, resource management, and procedure management. Strategic waste management has not been implemented in a coherent, integrated, and well-planned manner in the cases of the Kermanshah and Varzaghan-Ahar earthquakes. The challenges of strategic waste management turned out to be due to various reasons which will result in many issues in achieving the goals and selecting the suitable method for resource and procedure management should they not be managed well. Hence, policymakers, managers, and executors in the field of crisis management and waste management in disasters -specifically earthquakes- must take the necessary measures to remove these barriers.

Difficulties and Challenges of Strategic Management of Start-up Enterprises in the New Era

Strategic management is a shortto long-term development plan concerning the goals of an enterprise. Formulating appropriate strategic management is of great and far-reaching significance for the current development and sustainable development of the enterprise There is no doubt that the formulation of strategic management is very important. In the new era, under the condition of rapid economic development, the way enterprises formulate strategies and the development of strategic formulation have very important research value. This paper thus examines the characteristics of strategic management and the process of strategic management, the current situation of the development of entrepreneurial enterprises in the new era, and then uses quantitative analysis to analyse the impact of the Midea group on the strategic management of enterprises, puts forward several issues and decisive factors that should be considered for strategic management, and puts forward important implications for the strategic management of entrepreneurial enterprises.

Dynamics of the evolution of the strategic management concept: From the planning school to the neostrategic approach

Purpose: Strategic management has been developing in business theory and practice for over 50 years. Presently, it constitutes the main area of research interest in management science. The contemporary conditions of business operations create new challenges for strategic management, such as the use of dynamic capabilities in strategy building, relational strategies, networking of organizations, technology development and automation of processes, and global strategies. These challenges are often referred to as neostrategic management. The purpose of this publication is to present the findings of research concerning new strategic management concepts and challenges. Methodology: The main research method of this article was a narrative literature review. On the basis of the research, the development of the concepts as well as contemporary trends and challenges of strategic management were characterized. There is also a synthesis of the problems and research results presented in the articles in this special issue of JEMI. Findings: Various schools and approaches to strategy formulation have been created. They indicate different factors that allow for success in strategic management such as: setting long-term goals, selection of programs and their execution plans (planning school); connection of the enterprise with the environment (evolutionary school); focusing attention on competitive advantage and achieved performance (position-based school); focus on one’s own resources and competences (resource school); use of opportunities and creating innovation (simple rules school); selection of the best option and orientation in business management (real options school); or eclectic perspectives, integrating the listed approaches. The strategic management concept has two dimensions. The first dimension is related to the emergence of subsequent, new strategic management concepts, which often hark back to the previous schools and approaches. The second dimension of development applies to operationalization and adjustment of the previous concepts to the changing conditions. Implications for theory and practice: The paper characterizes the research results presented in the articles included in this JEMI issue. They deal with various problems and challenges in the field of strategic management, such as the relationship between market dynamics, market orientation and performance of enterprises; the innovativeness of companies as a contemporary strategic orientation of companies; the strategy implementation and the management of the organization change; problems of strategic management of the development of the city. Originality and value: The problems presented in the study relate to challenges and new concepts in strategic management. They enrich the existing knowledge on the development of strategic management, and also create inspiration for further research in this area.

Integrating Voice over IP Solution in IPv6 and IPv4 Networks to Increase Employee Productivity: A Case Study of Cameroon Telecommunications (Camtel), North-West

Telecommunications organizations have to follow the rapid innovation of technology if they want to face challenges raised by competition. The challenge to respond to the huge market demand of updated products and services from customers requires that the organization‘s working environment be equipped with tools and communication facilities that contribute to ameliorating productivity. Cameroon Telecommunications (Camtel) is facing a digital telephony and Internet Protocol strategic management challenge. Successful implementation cannot be achieved if the employees are still depending on the ageing public switched telephone network (PSTN) as their primary communication system, despite the frequent loss of dial tone experience in a day which can last up to a week, with serious repercussions on business activities and revenues. This study is designed to provide a solution to the telecommunications challenge. The fundamental question is how to integrate a digital telephony system that will provide telephony services in the existing IPv4 data network while prioritizing IPv6 traffic forwarding. This study proposes and implements solutions that integrate a Voice over IP solution with IPv6 as an alternative communication system that relies on the existing IPv4 data network. VoIP is deemed as one of the driving forces behind the adoption of IPv6. The purpose is to offer to workers an option that will free them from the poor Quality of Service (QoS) of their existing PSTN based solution, hopefully enhancing the overall productivity. This paper follows two research methodologies: Qualitative Research in Applied Situations and Engineering design process. The first part of this study reports the results of the evaluation of how much such a solution can enhance workers’ productivity. As it is important to provide an environment where IPv4 and IPv6 networks and applications/devices can interoperate in the context of VoIP; the second part describes practically a simulation environment where various configurations of network entities are done following a Dual-Stack transition approach. Document and records were used to gather information related to the structure, operations, and topological update of the Camtel’s existing IP data network. The findings demonstrated that VoIP can be an effective communication solution for Camtel and its implementation with IPv6 will be preferable. However, for this to be efficient there must be a provision of sufficient bandwidth and usage of types of equipment and transmission mediums that minimizes processing and propagation delays. Findings also reveal that better productivity will be achieved if workers are fully trained for the exploitation. This research article tries to highlight, discuss a required transition roadmap and extend the local knowledge and practice on IPv6. Future expansion of this research work will consist of deploying Dual-Stack VoIP in the remaining 9 regional offices for full integration in the corporate communication system of Camtel.

The impact of labor unionization on CSR reporting

PurposeCorporate social responsibility (CSR) reporting has been theorized as a key communication device and an integral part of a broader stakeholder integration management strategy. This paper aims to examine the relationship between CSR disclosures and organized labor, an important internal stakeholder, whose institutional role in dynamically advancing employee interests creates opportunities and challenges for strategic management and firm sustainability.Design/methodology/approachBy using a sample of 2,526 US firm-year observations for the period 2002–2015, the authors demonstrate that managers in unionized contexts are more likely to issue CSR reports than managers in firms, where labor is not organized.FindingsThe authors demonstrate that managers in unionized contexts are more likely to issue CSR reports than managers in firms where labor is not organized. Considering stakeholder theory, they argue that, in unionized contexts, managers more intensively resort to CSR disclosures to form an alignment of interests, develop collaborative bonds with unions and smoothen relationships with external financial stakeholders. This effect is more prominent in areas where corporate spatial clustering and the prevailing political ideology facilitate the role of unions.Research limitations/implicationsFirst, the data refer to USA, which may limit the generalization of the results. Hence, researchers could use cross-country datasets to overcome this limitation. Second, it would be important to know what benefits are enjoyed by the unionized companies that issue CSR reports. Third, they acknowledge that there is useful qualitative information they do not analyze. This analysis could potentially relate specific CSR information to unions’ needs and demands. Further, there are alternative channels through which companies disclose relevant information such as 10-K filings, annual reports, firm websites, media, public announcements, etc. These are not captured by the data.Practical implicationsManagers could benefit from the empirical analysis, which suggests that through the initiation of CSR reports a dialogue with unions is greatly facilitated. Managers should consider that CSR reports reduce information asymmetries and may attract the interest of investors. Unionists should be aware that CSR reports constitute an opportunity to identify mutual interests and align goals. Business analysts, investors and shareholders should be aware that standalone CSR reports are used by managers to reduce information asymmetries and disparities with unions and to communicate an investment-friendly context. So, market participants should factor such policies by unionized firms into their investment analyses.Social implicationsThe authors offer implications for managers, labor unionists and market participants.Originality/valueThis paper examines the relationship between CSR disclosures and organized labor, an important internal stakeholder, whose institutional role in dynamically advancing employee interests creates opportunities and challenges for strategic management and firm sustainability.

The challenge of board composition: Effects of board resource variety and faultlines on the degree of a firm’s international activity

This study explores the relationship between diversity in board composition and the degree of a firm's international activity. Specifically, we posit that board resource variety has a positive relationship with the international activity of the firm and that the strength of board faultlines moderates this relationship. Using data collected from Spanish public companies over the period 2005 to 2010, our analysis shows strong support for our hypotheses. Our work contributes to the literature on board's diversity by demonstrating that board resource variety should be captured by considering “the director profile” rather than any single attribute and that this type of variety can engender subgroups that weakens its benefits. Therefore, our results have implications for the strategic management challenge international firms face when they put together their boards. A corporate board needs to structure itself in such a way as to benefit from the wealth of the variety of its resources, but without succumbing to the risks posed by conflicts between subgroups arising from the presence of faultlines.

Leadership in times of organizational decline: a literature review of antecedents, consequences and moderators

PurposeDespite the recent increase in scholarly interest on organizational decline, the theoretical and empirical inquiry into this topic remains largely disintegrated. Therefore, leaders in corporate settings who are confronted with critical strategic management challenges are ill equipped for orchestrating successful turnaround attempts to secure the revival of their organizations. The purpose of this paper is to bridge this gap in the organizational decline literature.Design/methodology/approachIn this paper, the authors undertake a systematic review of the specialized literature with the purpose of providing an updated account of the extant knowledge base and assisting top managers in their efforts of corporate recovery.FindingsDrawing upon the insights from a number of prior literature reviews and the evidence provided in the sampled studies, this research framework offers an in-depth discussion of major antecedents, consequences and moderators of organizational decline.Originality/valueThe authors seek to make a discerned contribution to the field by advancing a multi-domain agenda for future research that may animate the continuous debate on the most effective strategies and leadership practices for surviving firm decline.

Strategy Execution: One Size Does Not Fit All: Evidence from Italian Middle Market

Despite several studies highlighting the gap between strategy formulation and strategy implementation, strategy execution continues to be considered one of the greatest challenges in strategic management. Beginning from this premise, the present study explores how the gap between strategy formulation and implementation is perceived by middle-sized Italian companies. The basic idea of this study is to verify whether the difficulties that are widely reported in the strategic literature and empirical research of translating strategy into practice also arise in the context of Italian firms, and to examine which are the greatest barriers to successful strategy implementation. To address the research aims, we conduct a survey analysis of 544 middle-sized firms located in Northeast Italy. The findings of the analysis highlight how the main sources of the gap between strategy formulation and execution can be traced to two main factors: the processes through which the implementation step is conducted and the competences and skills necessary to effectively achieve the execution results.&#x0D; &#x0D; This paper contributes to the existing literature by conducting empirical research on the relevance of strategy execution in the Italian context. The study also has practical implications through its demonstration of the importance of some managerial tools that are highly useful in effective strategy execution.

Big data management: implications of dynamic capabilities and data incubator

PurposeBig data management research and practice, however, have received enormous interest from academia and industry; the extant literature demonstrates that the authors have limited understanding and challenges in this knowledge-stream to fully capitalize with its potentials. One of the contemporary challenges is to accurately verify data veracity, and developing value from the verified data for an organization and its stakeholders. Consequently, the purpose of this paper is to develop insights on how the authors could strategically deal with the contemporary challenges in strategic management of big data, related to data veracity and data value.Design/methodology/approachThe inductive–constructivist approach is followed to develop insights at the intersection of dynamic capabilities theory and stakeholder relationship management concept, in order to strategically deal with the contemporary challenges in big data management, related to data veracity and data value.FindingsAt the intersection of dynamic capabilities theory and stakeholder relationship management concept, an implication is acknowledged, which has research and practical significance to strategically verify data source, its veracity and value. Following this implication, a framework of a data incubator is proposed to proactively develop insights on veracity and value of data. Empirical insights are also presented in this study to support this initial framework.Practical implicationsFor future research in strategic management of big data, academics will have contextual understanding on the particular interconnected and interdependent attributes from dynamic capabilities and stakeholder relationship management research streams to further enhance the understanding on big data management. For practice, these insights will be useful for executives to focus on specific attributes of the proposed data incubator to confirm data veracity and develop insights on how to design, deliver and evaluate stakeholder value based on the verified data.Originality/valueFollowing a synthesis at the intersection of dynamic capabilities theory and stakeholder relationship management concept, this study introduces a data incubator to meaningfully deal with the big data management challenges, related to veracity and value of data.

Empirical Research on the Profitability of R&amp;D Expenditure

Yamada and Nakayama (2018) estimated the profitability of research and development (R&amp;D) expenditures for the Japanese manufacturing industry, using industry-level data. The results of the manufacturing industry are not necessarily reflective of the state of each individual firm. The purpose of this study is to understand the present state of profitability of R&amp;D expenditures in major Japanese textile firms using firm-level financial data. In terms of methodology, a cost-effectiveness model that considers endogeneity between revenue and R&amp;D expenditure, as well as methods from the literature that can be used to analyze even small samples, are used. The methods used in this article will help practitioners better understand the specific circumstances of their own firms. The authors' work quantifies the investment levels of R&amp;D expenditure, presents strategic management challenges around R&amp;D expenditure to advocate for the consideration of rates of return, and urges the establishment of management accounting criteria at the firm level.

Investigating causal linkages and strategic mapping in the balanced scorecard: A case study approach in the banking industry sector

One of the main challenges of strategic management is implementing the strategies. Designing the strategy map in Balanced Scorecard framework to determine the causality between strategic objectives is one of the most important issues in implementing the strategies. In designing the strategy map with intuition and judgment, the link between strategic objectives is not clear and it is not obvious which strategic objectives are related and influenced each other. Hence, it is essential to offer a quantitative and accurate method to design the strategy map and clarify these relationships. In this paper, after reviewing the methods for determining the causal relationships among BSC perspectives in the literature, a framework on the basis of historical data analysis and multi-response surface regression analysis is offered to determine causal relationships among strategic objectives with respect to data of key performance measures of past years in order to obtain the coefficients and equations that can be used in the prediction of the responses. Using statistically significant models, the correlations between the factors and several responses were acquired. The presented quantitative approach is useful for determining the causal relationships resulting in an accurate strategy map and is a supporting approach for improving decision makers’ opinions and enabling them to reach a more accurate picture of the relationships. This research also presents a case study to demonstrate the applicability of the proposed approach. The application and implication of the proposed method in a real case show that the contributions of the research are not only theoretical but practical as well. The strategy map constructed in this study can also serve as a reference point for similar businesses.

Ethical Challenges in Strategic Management: The 19th IESE International Symposium on Ethics, Business and Society

This paper is the Introduction to the Special Issue comprising a selection of papers submitted to the 19th IESE International Symposium on Ethics, Business and Society. The main topic of the Symposium was “Ethical Challenges in Strategic Management.” The paper presents the rationale and context of the Symposium. We begin with a brief historical overview of the evolution of the relationship between ethics and strategy. We propose four pillars that are at the core of a definition of strategy and elaborate on how ethics can contribute to strategy. We present the six papers that make up this selection within the framework of the four aspects introduced in the previous section. We conclude with some proposals for further research that consider the content of the papers.

Strategic foresight for organizational agility at Nedbank Area Collaboration

Subject area The case study uses a strategic foresight method, scenario-planning, to examine the strategic options for a financial services firm. As such, it covers the fields of strategy, environment of business, innovation, digital disruption and organizational change as they relate to the firm’s ability to adapt to changes in the environment of business in an emerging market context. Study level/applicability The case was developed with master's-level students in mind, particularly those seeking a master of business administration, masters in strategic foresight or related management degrees. Case overview The case of NEDBANK, a longstanding and successful financial services firm based in South Africa is confronted with major challenges from competitors because of technological change in the industry as well as having to expand their market penetration across Africa. A rising regulatory burden, tough economic conditions and the need to access low income markets, provide a significant organizational development challenge as a decades-old bank, known for a relational approach to banking, has to navigate the new domains of “fintech”, micro-lending and public sector banking. Expected learning outcomes Students will gain comprehensive insight into the industry environment in emerging markets, understand the strategic management challenge before financial services firms in this environment and be able to consider the alternative strategic interventions that may be used to ensure corporate sustainability amid these challenges. Simultaneously, the case provides a comprehensive view into the use and application of scenario-planning for strategic management. Supplementary materials Teaching Notes are available for educators only. Please contact your library to gain login details or email support@emeraldinsight.com to request teaching notes. Subject code CSS: 11: Strategy

The fog of strategy: Some organizational perspectives on strategy and the strategic management challenges in the changing competitive environment

ABSTRACTThe purpose of this article is to discuss some conceptions of strategy (and why it is difficult) and the need for a long-term perspective on strategy (including carefully studying competitors/opponents), and to emphasize the organizational nature of strategy (most strategies are developed by and implemented in organizations). We offer elements of an organizational framework for thinking strategically about national security, and some thoughts about implications for the education of future strategists.

Methods for Assessing Quality of Life: International Experience

In this paper the quality of life as a multifaceted phenomenon has been studied. The problem of assessment of the quality of life has been investigated. Assessment of quality of life is an important tool for socio–economic policy of any state. Quality of life is defined as the degree of satisfaction of material, cultural and spiritual human needs. Component definitions emphasize the multidimensional nature of this concept and highlight different dimensions of quality of life (objective and subjective). Movement and physical activity is a crucial, fundamental factor in the formation, preservation and strengthening of health and human development. The purpose is to analyze existing approaches to the assessment of the quality of human life and to summarize international experience. To assess the quality of life of the population use two approaches, the aim and purpose of which are different. Characterized the international system for the assessment of quality of life. There are several systems of assessment of quality of life: General methodological concept of standards and quality of life (Standard of Living and Quality of Life), the methodology of the Economist Intelligence Unit (the division of The Economist Group), the new Europeandevelopment strategy for the next 10 years – «Europe 2020: Strategy for smart, sustainable and inclusive growth», the methodology of International Living (Ireland), the methodology of the EU, the methodology of the OECD (Organization for economic cooperation and development) in an innovative platform of the Better Life Initiative. These methodologies towards «health» are considering physical activity as the main indicator of the quality of human life. Strategic management challenges for Ukraine are to improve the quality of life of people in conjunction with the creation of conditions for realization of innovation model of economic growth, achievement and transformation of the high standards of quality of life in a powerful factor of global competitiveness.