Element Of Corporate Strategy Research Articles

Social responsibility of business as the basis of business security in modern conditions

Introduction. Social responsibility contributes to building a positive image for the company and strengthening the trust and loyalty of customers and partners, which are critically important aspects in maintaining competitiveness and security of business. In addition, the responsible behavior of companies reduces the risks associated with non-compliance with environmental standards and norms of social justice. Considering global challenges such as war, inequality, and the need for sustainable development, the social responsibility of business becomes an element of corporate strategy and an essential component of overall economic security. The study and implementation of the principles of social responsibility in the conditions of the modern business environment have a significant potential for increasing the level of economic security of enterprises, promoting their stable development, and positively impacting society in general. Thus, this article focuses on essential aspects of a business's social responsibility in supporting and expanding commercial activity in Ukraine in modern conditions. The article aims to study modern processes of the development of social responsibility in business to strengthen the security of entrepreneurship in modern economic conditions. The results. The main aspects of the social responsibility of business and its role in increasing the efficiency of enterprise security are studied. The level of social responsibility of Ukrainian companies is characterized. Ways to increase business activity by forming a positive image, strengthening reputation, and establishing strong relations with clients and partners were studied. The concept of "social responsibility of business" is defined. The main functions of social responsibility in business have been studied. Conclusions. The development of social responsibility in crises, in particular during war, is substantiated. Recommendations on applying a modern social responsibility model to increase business activity have been developed, considering the values and specifics of Ukrainian society. Keywords: social responsibility, entrepreneurship, business, competitiveness, social projects

MODELS OF CORPORATE CULTURE AND ITS OPTIONS: WORLD AND UKRAINIAN EXPERIENCE FOR INDUSTRIAL ENTERPRISES

The article is devoted to the models of corporate culture and its options at industrial enterprises. Models of corporate culture are studied, and world and Ukrainian experience is considered. Based on the study, it was found that there are: E. Shane's model, which is based on three levels: cultural indicators, worldview, levels of symbols and signs; The model of F. Harris and R. Moran that is formed of ten elements and helps industrial enterprises to pay more attention to their workers, to promote the strengthening of industrial relations, the correct development of corporate strategy among the models of world-class corporate culture. It is found that the model of R. Ruttinger contains such basic elements as the market and society, and its values are the culture of the organization, the idea of values, norms, rules of conduct, specific behavior. G. Hoftsed's model of culture is based on practices, the main elements of which are: values, rituals, heroes, symbols. BF Usmanov's model is based on perfect, namely: outstanding figures and role models, leading ideas and values in society, internal standards and rules, informal communication channels. The Performance Engineering Group, Inc. model combines elements of corporate culture with elements of corporate strategy. It was found that the models of Ukrainian scientists differ from foreign ones. MI Ovcharenko's model contains the process of formation and development of corporate culture, consumer profile procedures, allows to fully implement the customer-oriented function of corporate culture. SI Hrybinska's model is based on the factors of external and internal influence on corporate culture, reflects the levels of its manifestation, provides personal needs of employees and motivates staff, helps to satisfy employees with work, helps to achieve creative self-realization and self-development.

Multimarket Contact and Corporate Acquisitions: The Moderating Effect of Organizational Learning

We draw attention in multimarket contact literature away from its focus on antecedents and performance consequences and towards the effect it has on key elements of corporate strategy, namely a fir...

Universal banks:: The need for corporate renewal

In the past 10 years, many universal banks — i.e. large, diversified banking groups — have experienced a dramatic decline in economic performance in many industrial countries. Some authors attribute this fall to increasing rivalry or the lack of focus of universal banks and have proposed alternatives such as the concept of `core banking' or `the functional approach'. In this paper we argue that these proposals are useful but incomplete: universal banks have to consider all the elements of corporate strategy, just like any other diversified company, including the positioning of each business unit in its market, the development of basic capabilities that will allow those units to differentiate themselves from competitors and sustain a competitive advantage, the relationship between each unit and the corporate centre, and the organizational structure that will support the universal bank.

Supply‐Chain Strategy: Organizational Influence Through Supplier Alliances

The role of supply‐chain management as an integral element in corporate strategy has been discussed in prior research, mostly at a broad conceptual level with relatively little empirical validation. This paper uses data from a longitudinal study of buyer‐supplier relationships to evaluate the impact from firms' recent initiatives in developing strategic supplier alliances on the role played by the supply management effort in the corporate hierarchy. Contrary to anticipated results, the use of an alliance approach did not lead to any appreciable improvement in status and respect for supply management's role in developing corporate strategy. While several suggestions are offered to explain these results, the major conceptual models of supply‐chain strategy are reassessed and a more appropriate and grounded framework for study is proposed. Further research is called for to empirically verify the link between strategic consideration for supply issues and firm success.

Fixed Assets or Sunk Costs? An Examination of Retailers' Land and Property Investment in the United Kingdom

In this paper I examine the policies of leading multiple retailers in the UK with regards to property development, ownership, and investment. The discussion is set in the context of recent work by Clark and Wrigley in which they seek to relate locational decisions and other elements of corporate strategy to the economic concept of sunk costs. This concept is shown to be relevant to the recent experience of some British retailers which have incurred irrecoverable costs through overpayment for ‘premium’ sites for grocery store development. More generally, property development and ownership have in recent years become important activities for leading retail firms. Policies to separate property ownership and management from the mainstream retail trading function appear to have been successful, but some companies have lost money through overambitious programmes of property development. The conclusion is that, though retail development inevitably incurs sunk costs both at entry and exit, these are for most companies outweighed by the long-term growth of land and property values in the United Kingdom. Sunk costs may therefore be of less significance than in other types of private enterprise.

Managing Relationships With Customers And Suppliers: Law, Economics And Strategy

Vertical relationships – contracts or ownership and control, enable firms to exercise extensive control and influence over a supplier or retailer. Such vertical links can increase firms’competitiveness in a whole range of ways. Some of these – reducing costs through integrating processes or ensuring effective product retailing also serve the consumer interest. Others, preventing retailers from offering competing products, for example, don't; and this explains the suspicion with which such links are often viewed by the competition authorities. The consequence is that strategy for vertical relationships must encompass commercial, economic and legal dimensions. It is a key element in corporate strategy in many industries.

Successful Acquisitions and the Role of Management

Acquisitions are a key element of corporate strategy. The performances of organisations involved in mergers and acquisitions are examined. The article also examines the significance of corporate culture to company performance, and the change in culture that an acquisition might cause.

A customer selection strategy for business markets

The attainment of corporate objectives of profitability depends fundamentally on the allocation of limited resources to the generation of revenue in the most cost‐effective way. Customers, or groups of customers, provide revenue—consequently the selection of a “portfolio” of customers is of major importance as an element of corporate strategy. However, customers, or potential customers, vary by size, by market position, by the degree of understanding of suppliers’ offerings and in many other ways. This paper attempts to outline a systematic approach to the development of a portfolio of customers and market segments taking into account a number of the above factors.

The Flexible Manufacturing Mission—Some Implications for Management

Flexible manufacturing can be understood and managed even by non‐technological senior management provided they are involved in agreeing market parameters, technological flexibility needs, quality, cost and delivery performances. Abdicating the responsibility of technological decisions to lower levels of management is to be avoided. Companies aiming to satisfy customer needs by rapid response, through having a flexible manufacturing system which integrates market and financial requirements with effective production, will compete in the future. A development path extending three to ten years into the future is required, to integrate flexible manufacturing into an effective element of corporate strategy.