Strategic Business Objectives Research Articles

How Could Digital Transformation Help Medium-Sized Enterprises Access Thailand’s New Capital Market Financing (LiVEx) to Support Sustainable Growth in the Digital Economy Era?

In today’s modern era, digital transformation serves as a crucial element for organizations to gain a competitive edge and optimize their operating systems. However, medium-sized enterprises in Thailand face difficulties in accessing capital market financing, despite its significance in promoting the development of small- and medium-sized enterprises according to the 13th National Economic and Social Development Plan. One potential solution to this issue is digital transformation, which can help these enterprises achieve their strategic business objectives and find a reliable source of funding while enhancing their reputation and credibility, thereby contributing to the growth of the economy as a whole. This study utilized a mixed-methods approach to explore how digital transformation can assist medium-sized enterprises in accessing LiVEx, a new capital market for Thai SMEs. We conducted extensive research and interviewed 12 senior executives across three groups, government agencies, LiVEx-listed companies, and social associations, to develop a questionnaire and conceptual model. Data collected from 360 individuals working in medium-sized enterprises in Thailand collected using an online questionnaire were then analyzed, using CFA and SEM techniques to validate the model. Our study emphasizes the importance of digital literacy, digital usage, and digital advocacy in the success of digital transformation in accessing Thai capital market financing. These findings serve as a valuable knowledge repository for future research.

Holistic cold-start management in serverless computing cloud with deep learning for time series

Serverless computing is the most innovative and affordable cloud service model that improves three strategic business objectives: flexibility, efficiency, and innovation. Compared to monolithic applications, serverless computing applications scale better as the applications are further broken down into small building blocks of functions. Resources are assigned per function and can scale up as function requests increase. Hence, serverless computing has been increasingly employed in high-impact areas such as banking and health care. An issue affecting serverless computing’s performance is cold-start — the delays in assigning resources for function execution. Such delays can violate the Service Level Agreements especially those of time-sensitive applications. Current cold-start management policies operate in silos with narrow focuses on function, application, runtime, or infrastructure levels. Such policies do not incorporate higher-level requirements like those in the Service Level Agreements. Additionally, operating in silos does not follow the principle of continuous feedback loops among management policies at different system levels, which is essential for AI-driven self-adaptive future computing systems. Therefore, this paper proposes a novel 2-prong cold-start management policy that allows feedback loops with other higher management policies and orchestrates lower-level cold-start optimization policies. The main policy driver is the temporal convolutional network (TCN) model that can predict function instance arrivals from 5 to 15 min into the future. Evaluation strategies were proposed for both the TCN model and the management policy. Evaluation results show that the TCN model performs reliably across two trace datasets from leading serverless computing providers. Notably, the proposed cold-start policy evaluation plan allows organizations to realistically evaluate their cold-start management in ways that have never been done before.

Information Technology Governance in Colombian Small and Medium Companies: An Exploratory Study Using Data Analysis

Information Technology (IT) is a resource for achieving strategic business objectives. However, many Small and Medium-sized Enterprises (SME’s) do not consider IT a strategic area. This article explores the perception of IT governance in Colombia among IT professionals. It presents the design, data analysis, and results of a survey based on the Governance of Enterprise IT framework. The survey was conducted in 2019 and 2020, obtaining responses from 151 IT professionals that worked in 48 SME's and 90 from large companies. Data were analyzed with WEKA and KNIME, applying classification, segmentation, and association techniques. Results indicate that: (1) SME’s associate IT investment with the generation and improvement of products and services; (2) employees’ and users’ performance is higher when they work in companies with managers that have a high commitment to IT governance; and (3) 95% of companies with high implementation levels of IT governance consider IT very important in their strategies.

Causal Interactions in Agile Application Development

The Agile approach and tools are popular for the management of Enterprise Application Software (EAS) development. This article focuses on the issue of inconsistency between strategic business objectives and the functionality of the software developed. Agile management tools lack the functionality of EAS project activities coordination. This article aims to rethink Agile project management using the causal modelling approach. A causal model of Agile project management using a management transaction (MT) concept was developed. The notion of the space of processes was used to identify the MTs location along the axes of aggregation, generalization, and time and to formalize their interaction specifications. Taxonomy of the coordination meta-types and types was developed using the identifiers of the MTs. The modified Agile activities hierarchy was developed, and vertical and horizontal causal interactions between Agile activities were identified. This modified Agile management model helps to consistently track the integrity of EAS project content. Complexity indicators were introduced to evaluate the EAS project complexity and their average and normalized values are presented. Additional attributes in the Agile management tool Jira are proposed. Monitoring mismatch between strategic business objectives and development activities content helps to improve the success of EAS projects delivery.

Why to design modular products?

This paper is based on the development project of productivity by applying principles of product modularity and design reuse. The focus is on companies operating in manufacturing industry and specializing in large investment project deliveries. Analyzing the business impact of modularity is one method and tool used in modularization projects. The analysis is made to ensure that the investment in the development of modular products and the supporting way to operate is justified and supports the company’s strategic business objectives. Preliminary business impact analyzes are usually carried out before the actual technical modularization project starts to justify starting the project. Analyzes are made also during the modularization project at different stages, for example to compare alternative concepts or module partitioning types. To support the business impact analysis of modularization, several possible benefits and value creation mechanisms have been identified in previous publications. These mechanisms can be linked to many stages of the product life cycle. This paper first reviews the main mechanisms of modularization through a literature review. In addition to this, based on an ongoing modularization project in a case study with investment product deliveries, we present as new information the latest findings on different potential benefits of modularization to reinforce the previous literature.

Supply chain control towers: Technology push or market pull—An assessment tool

AbstractAs digital technology and connectivity advance rapidly, the premise of bringing supply chain (SC) visibility across multiple tiers of supply, whilst facilitating the velocity to achieve strategic business objectives, is gaining interest. The feasibility and timing for successful adoption and implementation of such technology depend primarily on the readiness level and specific needs of each organisation, making it imperative to exercise insightful judgement as it can be expensive to acquire, develop and master. This research study examines the market pull versus technology push components of the functionalities enabled by digital SC control towers and buildings on the outcome of an extensive survey and expert interviews and proposes an assessment tool to aid decision making for the consideration of their adoption.

Measuring sustainable cleaner maintenance hierarchical contributions of the car manufacturing industry

Sustainable cleaner maintenance (SCM) prevents waste and pollution by cost-effectively delivering the necessary maintenance activities and at the same time safe for the human. The presented study aimed to extend cleaner and sustainability by cascading down strategic business objectives by developing a balanced, integrated, and hierarchical Sustainable Cleaner Maintenance Performance Measurement Framework (SCMPMF). This framework enables a business strategy's functional alignment levels. The initial framework consists of 78 indicators concerning eight perspectives identified upon the reviews on previous research. Fourteen indicators are classified at the corporate level, 21 indicators at the tactical level, and 43 indicators at the functional level. The validation process is conducted by sending questionnaires to 200 car manufacturing companies (with a 50.5% response rate). Nine new perspectives (cost-effectiveness, quality, productivity, resource efficiency, pollution and waste, learning and growth, health and safety, employee satisfaction, and stakeholder satisfaction) were identified with 71 indicators. The Partial Least Squares – Structural Equation Modelling (PLS-SEM) approach is applied to validate this new structure of SCMPMF. This novel framework presents two main components, i.e. sustainable cleaner initiatives and hierarchical decision levels (corporate, tactical, and functional). This study provides empirical evidence regarding the ideal hierarchical structure of SCMPMF concerning three pillars of sustainability. The framework can assist decision-makers in capturing the important factors, perspectives, and indicators relevant for measuring the SCM contribution and align them with the corporate objectives.

The progress of Corporate Social Responsibility from a Gender perspective through the Change Management

In recent years, one of the main priorities of companies has been to adapt their business activity and commercial strategy to be aligned with the 17 Sustainable Development Goals (SDGs) established by the United Nations, in its “2030 Agenda”. To overcome this challenge, companies develop and implement Corporate Social Responsibility (CSR) strategies. One of the objectives that have generated the most interest is Goal 5 dedicated to promoting gender equality. This study analyzes the gender equality evolution in companies as part of CSR through Change Management (CM). To do this, a longitudinal study was carried in the last ten years with an analysis of the content of various reports from four of the most important banks in Spain. The results corroborate the growing interest of the largest Spanish financial institutions in gender equality. Being women's access to employment, salary gap information, and the presence of women on the board of directors a priority. Likewise, the CM appears as a lever for the achievement of the SDGs by the entities, gaining relevance in recent years, and being linked to the strategic approach and business objectives for the development of CSR.

A Multi-criteria Approach in the Project Selection Process in Multi-Project Context

In a multi-project environment, organizational complexity refers to the difficulties that organizations often face in choosing projects to build their portfolios, since they do not aim to achieve the same strategic business objectives. It is for this reason that the project selection process requires the implementation of an effective decision-making tool when composing a project portfolio. The objective of this paper is to propose an adapted framework for a better project selection procedure inspired by the approaches of strategic relevance, profitability criteria, uncertainty, and risk analysis, the ability to dispose of scarce resources, and the determination of interdependencies between different projects. 

The Implications of COVID‐19 for Nonmarket Strategy Research

Abstract The COVID-19 virus ignited social and economic turmoil around the world Not since the Spanish Flu of 1918 had we seen a pandemic of such scale and severity The resultant global transformation of industries, supply chains, work, communication, and institutional frameworks suggests we are entering a period of non-ergodic change, in which the future cannot be extrapolated from the past (North, 1999) This means that we do not know the probability distribution or the outcomes from the virus So, we must find a way to coexist and build our resilience

Blockchain-IoT based risk management approach for Project Procurement process of Asset Propelled Industries (API)

In a competitive business environment, asset propelled industries (APIs) are prefer purchasing over manufacturing to achieve strategic business objectives. Therefore, project procurement management...

Challenges in the Implementation of Performance Management System in Namibian Public Sector

Organizational performance of the management system helps top management achieve strategic business objectives and goals. It provides valid and useful information for making strategic decisions concerning employees. It includes information on employee’ performance, and organizational and supervisor’s expectations. Despite the benefits arising from the implementation of a well-designed performance management system, the public sector in Namibia still faces challenges when it comes to its realization. It is against this background that this study aimed to investigate the challenges faced by the public sector in the implementation of a performance management system in Namibia. The study used a qualitative research method and collected data through interviews. The sample consists of 42 participants. The data gathered was reviewed against the literature on the subject. The thematic data analysis technique was used to analyze the data, where core topics emerging from the discussion and interviews were grouped and analyzed. This research identifies a lack of training and proper orientation in performance management as primary challenges in adopting a performance management system in the public sector. The other contributing factors include inadequate monitoring and evaluation, the shortage of policies supporting the implementation process, poor communication in performance planning, performance reviews, poor feedback on performance and lack of employee involvement in the implementation of the performance management system. Hence, management should provide training and workshops to sensitize the employees on the aims and benefits of a performance management system and develop policies to enforce compliance in the public sector.

Aligning Talent Acquisition Practices to Strategic Business Objectives

In this article, I outline five different ways in which the talent acquisition function can contribute to strategic business objectives. First, it is necessary to hire employees who are empathetic to the business values, as talent which is able to empathetically connect to end users of business propositions can build enduring value. Second, while building firm-specific human capital has been seen as a difficult project, appropriate talent acquisition practices could signal how specific forms of human capital can flourish in unique organisational ecosystems. Third, talent acquisition can help in building a healthy mix of perspectives by drawing talent from outside to collaborate with internal talent and ensure that there is a constant regeneration of strategic perspectives. Fourth, the talent acquisition function can anticipate technological disruptions and identify talent with high learning agility that can help navigate organisations through such disruptions. Fifth, the talent acquisition practices can resonate with business strategy by being cognizant of business cycles of expansion and efficiency in enabling hiring decisions.

El rol del Big data como herramienta de comunicación estratégica y construcción de reputación en Chile

La presente investigación da cuenta de un proceso escasamente abordado en los estudios de Comunicación como es la gestión de la información al interior de las empresas y el uso, estrategias y gestión con que se abordan a grupos de interés y social media influencers en cuanto canalizadores sociales de marca. La noción de influencia ha vuelto a cobrar importancia en el área de la comunicación estratégica con el auge de las diversas plataformas de información, relacionamiento digital y el avance hacia un contexto de alta competencia y desconfianza hacia las empresas. Al objeto de lograr esa influencia hoy resulta fundamental un uso oportuno del Big Data, definido como un gran volumen y flujo de diferentes formas de datos procedentes de diversas fuentes (externas e internas) en constante procesamiento, que producen nuevos conocimientos. En ese sentido, el big data facilita el acceso a determinados grupos de stakeholders con gran precisión. Pese a esta evidencia, en la presente investigación se constata que los profesionales de la comunicación en Chile no lo ven así. Entienden la comunicación estratégica fundamentalmente no como una vía construir confianza, pero sí para alinear una estrategia corporativa con una estrategia comunicacional y como instrumental para otorgar una orientación mayor a los directivos a la hora de tomar decisiones y definir objetivos estratégicos de negocio. Para abordar nuestro trabajo investigativo, trataremos en primer lugar una discusión teórica acotada al grado de profesionalización de la comunicación estratégica, expresada en la adopción y uso de diversas tendencias y herramientas de práctica, especialmente de análisis de Big Data, para luego identificar las principales características del estudio. Posteriormente presentaremos los resultados de la investigación y nuestras conclusiones. Se constata en el caso de Chile que la mayoría de los profesionales de la comunicación carecen de las competencias y herramientas para obtener altos rendimientos y efectividad a la hora de posicionar las marcas e influir al interior de la sociedad interconectada.

Management Organizational Complexity in the Background Multi - Projects

Management Organizational Complexity in the Background Multi - Projects Charles Éric Manyombe, Sebastien H. Azondékon Abstract To be effective in running multiple concurrent projects and achieving their strategic business objectives, project-oriented companies need to have adequate information about the challenges they face in managing them. The study conducted as part of this research work borrows a descriptive path and contributes to the improvement of the understanding of the different users of what is the multi-project management. These challenges include project selection; the allocation of resources; the prioritization of projects and the management of project teams. It is thus necessary to educate the project management community regarding the specifics of multi-project management and the organizational complexities while developing new tools which will permit organizations faced with the above identified challenges to adequately adapt in an increasingly complex environment. In addition to these comments, this study extends its contribution by presenting proposals for future research and resolution of the problem of project selection, project prioritization and the composition of a project portfolio. Full Text: PDF DOI: 10.15640/smq.v7n2a1

Real Opportunities in the Era of Connectivity

With the advent of digitalization, an integration of smart technologies and operations emerges with the aim to achieve specific strategic business objectives, thus identifying potential interrelations between digital and physical. In this complex scenario, the role of institutions and competences becomes crucial for, respectively, regulating the activities as well as accelerating the pace of education.

The future of project management

Many of the companies that were hurt by the new business models created by their competitors were well-managed companies that had a talented labor force and were responsive to the needs of their customers. The mistake they made was spending more time worrying about near-term profits and less time focusing on the long-term success of their company. Project management was a means to coordinate the creation of a deliverable or outcome. Project managers were assigned to operational projects rather than strategic projects. In the new landscape for project management there are four new principles, project management is now seen as a business process where project managers are expected to make business decisions as well as project-based decisions; project management is now treated as “strategic project management” which is designed to meet strategic business objectives; project management is now seen as the delivery system to create the desired business benefits and business value; project management is now a strategic competency. With the growth expected in the responsibilities of the project managers, we must begin thinking now as to how they will be educated. This article give you an idea of what educational topics you might consider advancing your career.

Analysis of the Risk Management Process on the Development of the Public Sector Information Technology Master Plan

The Information and Communication Technology Master Plan—ICTMP—is an important tool for the achievement of the strategic business objectives of public and private organizations. In the public sector, these objectives are closely related to the provision of benefits to society. Information and Communication Technology (ICT) actions are present in all organizational processes and involves size-able budgets. The risks inherent in the planning of ICT actions need to be considered for ICT to add value to the business and to maximize the return on investment to the population. In this context, this work intends to examine the use of risk management processes in the development of ICTMPs in the Brazilian public sector.

A Conceptual Framework for an Extension Access Control Models in Saudi Arabia Healthcare Systems

This article aims to develop an extension access control models framework in Saudi Arabian healthcare systems. The conceptual framework acts as an ascendency structure to organize and support the efforts of several health care standards which reflect on the coherent of confidentiality; integrity; and availability triads in order to achieve the strategic business objectives of Saudi Arabian healthcare institutions. It is considered to be three common access control models developed by ACM institute and extended to other criteria identified by the National Institute of Standards and Technology. While literature explains that an easy-to-use access control model can lead to success healthcare system, understanding the extension of access control systems is vital for Saudi Arabian healthcare institutions to protect resources against unauthorized use. This article has taken a step in this direction.

G-RAM framework for software risk assessment and mitigation strategies in organisations

PurposeMalicious attackers frequently breach information systems by exploiting disclosed software vulnerabilities. Knowledge of these vulnerabilities over time is essential to decide the use of software products by organisations. The purpose of this paper is to propose a novel G-RAM framework for business organisations to assess and mitigate risks arising out of software vulnerabilities.Design/methodology/approachThe G-RAM risk assessment module uses GARCH to model vulnerability growth. Using 16-year data across 1999-2016 from the National Vulnerability Database, the authors estimate the model parameters and validate the prediction accuracy. Next, the G-RAM risk mitigation module designs optimal software portfolio using Markowitz’s mean-variance optimisation for a given IT budget and preference.FindingsBased on an empirical analysis, this study establishes that vulnerability follows a non-linear, time-dependent, heteroskedastic growth pattern. Further, efficient software combinations are proposed that optimise correlated risk. The study also reports the empirical evidence of a shift in efficient frontier of software configurations with time.Research limitations/implicationsExisting assumption of independent and identically distributed residuals after vulnerability function fitting is incorrect. This study applies GARCH technique to measure volatility clustering and mean reversal. The risk (or volatility) represented by the instantaneous variance is dependent on the immediately previous one, as well as on the unconditional variance of the entire vulnerability growth process.Practical implicationsThe volatility-based estimation of vulnerability growth is a risk assessment mechanism. Next, the portfolio analysis acts as a risk mitigation activity. Results from this study can decide patch management cycle needed for each software – individual or group patching. G-RAM also ranks them into a 2×2 risk-return matrix to ensure that the correlated risk is diversified. Finally the paper helps the business firms to decide what to purchase and what to avoid.Originality/valueContrary to the existing techniques which either analyse with statistical distributions or linear econometric methods, this study establishes that vulnerability growth follows a non-linear, time-dependent, heteroskedastic pattern. The paper also links software risk assessment to IT governance and strategic business objectives. To the authors’ knowledge, this is the first study in IT security to examine and forecast volatility, and further design risk-optimal software portfolios.