Strategic Management Framework Research Articles

The Role of Strategic Management Accounting Techniques in the Improvement of A Company’s Financial Performance: The Case of low-cost Airlines

This article presents a unique exploration of the role of Strategic Management Accounting techniques in supporting decision-making. This perspective has not been extensively studied in the context of low-cost airlines. This accounting branch is characterized by providing external, financial, non-financial, long-term, and forward-looking information, expanding the informational framework for strategic management and decision-making. The methodology relies on the application questionnaires and the financial performance analysis of fifteen low-cost airlines in America and Europe. Structural equation models were applied to test the relationships among the variables. The results evidence that the strategic management accounting techniques that positively and significantly affect the financial performance of the analyzed low-cost airlines are the ones related to the group of costing and strategic decision-making.

Towards a Strategic Management Framework for Enhancing South Africa’s Seafarer Development Programme: Addressing Placement Challenges

The global shortage of qualified seafarers, particularly at the officer level, presents both a challenge and an opportunity for South Africa. Despite the country’s strategic location along critical international trade routes, South African seafarers face significant challenges in obtaining placement upon completion of their training. This article presents a systematic literature review on the placement challenges experienced by seafarers, supplemented with qualitative insights from South African stakeholders. The findings highlight the structural issues within South Africa’s seafarer development programme and propose a strategic management framework to improve the placement and competitiveness of South African seafarers in the global maritime industry.

INFLUENCE OF STRATEGIC DIRECTION ON THE PERFORMANCE OF FINTECH FIRMS IN NAIROBI CITY COUNTY, KENYA

This study investigated the influence of strategic direction on the performance of financial technology (FINTECH) firms in Nairobi City County, Kenya. The research was grounded in strategic leadership theory and employed a predictive research design. The target population consisted of 154 senior and middle-level managers from 22 FINTECH firms, with a sample size of 111 respondents determined using the Taro Yamane formula. Data was collected using structured questionnaires, achieving a response rate of 82.88%. Descriptive statistics revealed that firms excel in adapting strategic direction to changing circumstances (M = 4.80, SD = 0.399) and establishing clear strategic direction (M = 4.43, SD = 0.731), but face challenges in setting clear and measurable goals (M = 1.18, SD = 0.390). In the inferential analysis, multiple linear regression revealed that strategic direction has a statistically significant positive influence on FINTECH firm performance (β = 0.890, t = 11.797, p < .05). The coefficient of determination (R² = 0.685) indicated that 68.5% of the variance in organizational performance could be explained by the strategic factors studied. The study concludes that effective strategic direction is fundamental to FINTECH firm success in Kenya's dynamic financial technology sector, validating the theoretical frameworks that emphasize strategic leadership's role in organizational performance. The research recommends that FINTECH firms implement comprehensive strategic management frameworks that balance structured goal-setting processes with adaptive capabilities, while regulatory bodies develop supportive policies that encourage strategic innovation while maintaining industry stability. This research contributes to both the theoretical understanding of strategic management in the FINTECH sector and provides practical insights for industry leaders navigating complex market conditions.<p> </p><p><strong> Article visualizations:</strong></p><p><img src="/-counters-/soc/0735/a.php" alt="Hit counter" /></p>

Navigating digital transformation in financial services: Strategic management: concepts and cases for sustainable growth and innovation

The financial services industry is undergoing a profound digital transformation, driven by technological advancements, evolving consumer expectations, and regulatory changes. This paper explores the strategic management concepts and frameworks essential for navigating this complex landscape. By examining real-world cases of successful digital initiatives, the study highlights best practices in fostering innovation, enhancing customer engagement, and achieving sustainable growth. Key themes include the integration of emerging technologies, such as artificial intelligence and blockchain, into traditional financial practices, and the importance of agile organizational structures that support continuous improvement. Additionally, the paper discusses the role of leadership in driving cultural change and aligning digital strategies with overarching business objectives. Ultimately, this research provides valuable insights for financial institutions seeking to leverage digital transformation as a catalyst for competitive advantage and long-term success.

Strategic management in digital transformation: prioritizing strategic initiatives through Analytic Hierarchy Process (AHP) in Indonesia’s services sector

Purpose: The rapid pace of digital transformation has significantly impacted the IT services sector, particularly in emerging markets, such as Indonesia. This thesis explores the strategic challenges faced by Indonesian IT service providers as they navigate a competitive landscape characterized by evolving customer demands, technological advancements, and market dynamics. This research aims to prioritize strategic initiatives that align with market needs and enhance the competitive positioning of these providers. Research Methodology: By integrating strategic management frameworks such as Porter’s Five Forces, Value Chain Analysis, and SWOT Analysis with the Analytic Hierarchy Process (AHP), this study addresses the issue of stagnant revenue in PT ABC, a leading IT service provider in Indonesia. The findings indicate that AI-based product innovation and the development of low-code solutions are critical strategies for driving sustainable growth and meeting the increasing demand for advanced technological solutions. Limitations: This study underscores the importance of customer-centric approaches and continuous adaptation to maintain a competitive edge in a volatile, uncertain, complex, and ambiguous (VUCA) environment. Contributions: This research contributes to the strategic management literature by demonstrating the practical application of AHP in the context of digital transformation within the IT services sector, and provides actionable insights for IT service providers in emerging markets facing similar challenges.

Experience of Implementation of the Lean Production Concept at the Enterprise of Thermal Insulating Materials Market

Relevance. The construction industry produces a third of global waste, much of it is not recycled, ending up in landfills and polluting the environment. Between 2000 and 2020, the volume of construction work has increased more than 12-fold. The flip side of the process is a proportional increase in waste. In the insulation materials market and in the construction industry in general, the relevance of the lean manufacturing concept is growing, as it can be used to reduce the amount of resources consumed and increase business efficiency.Purpose. This article considers the developed measures for implementation of the concept of lean production in the framework of strategic management of the enterprise at the plant of the market of thermal insulation materials.Objectives. Within the framework of the concept realization the excessive quality is reduced, the system of personnel training is implemented and the level of competitiveness of the enterprise is increased.Methodology. The object of the study is the plant of Belgorod region, the leader in labor productivity in the city of Belgorod. The works were carried out from 2021 to 2023.Results. Due to the implemented program labor productivity increased by 2,0%, the number of scrap was reduced from 1,7% to 0,8%, new strategies for the development of the company were developed due to the introduction of personnel training system.Conclusions. The program of increase of competitiveness of the enterprise of branch of heat-insulating materials on the basis of introduction of the concept of lean production at its projection on other companies given in the present article is perspective in the plan of increase of competitiveness of the Russian Federation in the world arena, in fact the economy of the country depends on efficiency of subjects functioning in it.

The Challenges and Countermeasures of Entrepreneurial Enterprise Strategic Planning

The main challenges faced by entrepreneurial enterprises in strategic planning include the lack of experience and capabilities of entrepreneurs themselves, affecting the professionalism of strategic decision-making; limitations in resources such as funding and talent, constraining strategic execution; and misjudgment of market conditions and external policy changes, increasing decision-making risks. These challenges seriously impede the effectiveness of strategic implementation for entrepreneurial enterprises. In response, businesses can take three key measures: improving the systematic nature of strategic planning and execution, establishing flexible strategic adjustment mechanisms, and introducing external professional services. Firstly, establishing a scientific and systematic strategic management framework to accurately recognize market trends and proactively control risks. Secondly, setting up regular review mechanisms based on market and policy changes and making strategic adjustments when necessary. Lastly, collaborating with professional organizations to address the lack of experience and perspectives and minimize risks. Through the integrated application of these strategies, entrepreneurial enterprises can ensure the effectiveness of strategic planning and implementation in a complex and ever-changing environment, and gain momentum for sustained growth.

Fostering innovation through collaborative leadership: developing a novel framework for strategic management

The relevance of the global trend towards the transformation of management processes regarding the principles of sustainable development necessitates revision and optimization of approaches to strategic management. This article aims to analyze a synergistic approach to strategic management. The study involved general scientific methods: comparison, theoretical modeling, synthesis, analysis, abstraction, specification, and generalization. The paper examines the role of the concept of synergism in shaping the strategic advantages of the management paradigm. The author has determined that the synergistic context of certain strategic models should be considered an effective management policy concept. The article highlights the prioritized approaches to strategic management from the standpoint of synergistic methodology. The author has developed a universal model of the innovative concept of synergistic management strategy, forecasting its effectiveness in the current economic realities. It has been proved that the synergistic approach is focused on effective communication and the formation of effective relationships. The practical significance of this study lies in the expediency of using them in an enterprise's strategic management system to improve the efficiency of its financial and operational activities.

Navigating through policy and process inflation by establishing cultural value in cultural sites: The case of the Philippine-Korea friendship center

The protection and development of cultural sites pose ongoing economic and social challenges for the state, necessitating a symbiotic relationship between cultural advancement and societal progress, yet facing a shortfall in support and funding. This paper aims to delineate the value of cultural sites and assess how evolving cultural policies influence their management. Despite legislative mandates requiring government backing, cultural site management often shoulders the responsibility amid policy and procedural complexities, resulting in what is termed as "policy and process inflation." The absence of consistent support due to shifting cultural policies aggravates this burden, compelling cultural sites to integrate economic imperatives alongside social objectives. Utilizing Cultural Value Theory (intrinsic, instrumental, institutional), this study examines the Philippine-Korea Friendship Center to elucidate its cultural value amidst policy dynamics. It underscores the necessity for cultural sites to not only embody intrinsic value but also cultivate instrumental and institutional values. This analysis sheds light on the interplay between cultural policies and the state of cultural sites, highlighting the imperative for holistic support and strategic management frameworks.

Resilienz in globalen Produktionsnetzwerken

Abstract Multiple crises in supply chains make resilience an important success factor for manufacturing companies. However, implementation is still hampered by ambiguities and interdependencies. This article uses a staged model to differentiate resilience from other change capabilities. From this, the relevance of networking in production networks and an orientation framework for strategic management are derived as to how resilience approaches can be sustainably integrated.

A comprehensive framework for strategic knowledge management in civil service organisations of Mauritius

The acquisition and utilisation of knowledge possessed by employees within an organisation, particularly in the context of the Civil Service, can be a crucial asset in achieving the organization's continuous business goals and objectives. This study investigates the methods and implementation of Knowledge Management (KM) in the public service Organisations of Mauritius. The objective is to identify the attributes that contribute to the effectiveness of knowledge management (KM) and address significant obstacles in the KM process. The objective of this study is to increase awareness of Knowledge Management (KM) as a feasible option for enhancing the efficiency of civil service organisations. The study results imply that knowledge management in civil service organisations is still in its nascent phase, indicating a significant need for advancement in the whole knowledge management process. This study examines the present condition of knowledge management in the civil service organisations of Mauritius. The study primarily aimed to collect empirical data on the subjective impressions, attitudes, and perspectives of the respondents or interviewers regarding the investigated issues. The study use interpretive methodology rather than positive approaches. Nevertheless, this research solely concentrates on the 25 governmental ministries of the Republic of Mauritius. The proposed framework is anticipated to be easily implemented in para-statal entities and government-owned firms, necessitating only minimal adjustments. The objective of this project is to build an empirical basis for the creation of a knowledge management system tailored to the needs of Civil Service Organisations. This study focuses on analysing the mechanisms of Knowledge Management (KM) and their impact on productivity and efficiency in Mauritian Civil Service Organisations.

Retraction notice: Federate learning of corporate social authority and industry 4.0 that focus on young people: a strategic management framework for human resources

Retraction notice: Federate learning of corporate social authority and industry 4.0 that focus on young people: a strategic management framework for human resources

Generative Artificial Intelligence in Business: Towards a Strategic Human Resource Management Framework

AbstractAs businesses and society navigate the potentials of generative artificial intelligence (GAI), the integration of these technologies introduces unique challenges and opportunities for human resources, requiring a re‐evaluation of human resource management (HRM) frameworks. The existing frameworks may often fall short of capturing the novel attributes, complexities and impacts of GAI on workforce dynamics and organizational operations. This paper proposes a strategic HRM framework, underpinned by the theory of institutional entrepreneurship for sustainable organizations, for integrating GAI within HRM practices to boost operational efficiency, foster innovation and secure a competitive advantage through responsible practices and workforce development. Central to this framework is the alignment with existing business objectives, seizing opportunities, strategic resource assessment and orchestration, re‐institutionalization, realignment and embracing a culture of continuous learning and adaptation. This approach provides a detailed roadmap for organizations to navigate successfully the complexities of a GAI‐enhanced business environment. Additionally, this paper significantly contributes to the theoretical discourse by bridging the gap between HRM and GAI adoption, the proposed framework accounting for GAI–human capital symbiosis, setting the stage for future research to empirically test its applicability, explore its implications on HRM practices and understand its broader economic and societal consequences through diverse multi‐disciplinary and multi‐level research methodologies.

The more we post, the better? A comparative analysis of fan engagement on social media profiles of football leagues

PurposeIn a dynamic, continuously evolving sports landscape, social media have become an indispensable tool for sports organizations to cultivate meaningful connections with fans. The rapid pace of technological advancements has elevated these digital platforms from a supplementary role to a pivotal position within strategic management frameworks. The existing literature explores how football clubs can utilize social media, but analyzing social media strategies within the context of football leagues is lacking. The absence of comparative studies benchmarking clubs across different geographical regions while simultaneously analyzing multiple social media platforms is especially noteworthy. In this study, a comprehensive analysis of social media engagement is undertaken within esteemed football leagues spanning Europe, South America and North America.Design/methodology/approachDrawing on relationship marketing and employing content analysis as a methodological tool, the study examined 10,772 posts from the official accounts of eight football leagues on Facebook, Twitter and Instagram.FindingsAcross the leagues, the findings reveal that content quality drives engagement more than frequency. In addition, several format combinations were identified that facilitate engagement and Instagram emerged as the top social media platform for generating fan engagement.Originality/valueThis is one of the first empirical studies focusing on optimizing the use of social media to amplify fan engagement across various geographies and social media accounts and formats simultaneously.

Characteristics of the spatio-temporal evolution of the improved integrated ecological effect index (IEEI) in mountainous province based on remote sensing: a case study in Yunnan province of southwest China

Land use/cover change (LUCC) and the evaluation of its ecological effects are the important and key areas of research on global environmental change and sustainable development. In response to the problems and limitations of various methods of evaluating the ecological effects of LUCC, this article takes Yunnan Province, a mountainous province with a relatively fragile “innate” ecological environment, as the research area. Based on LUCC data from the interpretation of seven phases of remote sensing (RS) images taken in Yunnan, combined with the investigation of soil erosion data by using remote sensing technology, an improved integrated ecological effect index (IEEI) for the LUCC and a method for its evaluation are proposed; this index was applied to calculate the integrated ecological effect index for the LUCC and analyze its spatiotemporal evolution in 129 counties in Yunnan from 1990 to 2020. The spatiotemporal changes, characteristics, and laws of the integrated ecological effects of LUCC in the whole province and counties from 1990 to 2020 were revealed, with the goal of offering a fundamental framework for long-term strategic planning and management in mountainous provinces. Overall, in the past 30 years, the integrated ecological effect of Yunnan Province and various counties has significantly improved. However, the IEEI of the province is not yet very high, and its regional differences are significant. It is urgent to increase the efforts of ecological civilization construction (ECC) throughout the province, adopt practical and effective ecologically-friendly land use ways and ecological environment protection and construction measures according to local conditions, and steadily improve the integrated ecological effect of various regions.

DEFINING STRATEGIC INVESTMENT PRIORITIES IN BUSINESS ACTIVITIES

This paper underscores the role and position of investment activity within the framework of strategic enterprise management. It explores the economic essence and distinct characteristics of the investment process, which encompasses the issuance and accumulation of production resources as investment goods and services. It is argued that the investment process at an enterprise can be viewed from two perspectives: as a complex of potential alternative investment decisions based on available financial resources and the capability to attract additional funds (implemented through the development of the enterprise's investment policy strategy); and from the standpoint of each specific investment decision (the rationale and specific investment projects). The paper provides comprehensive recommendations that cover all aspects of the investment process to enhance the methodological support for selecting strategic investment priorities to ensure the enterprise's sustainable development. Distinctive features of financial and investment resources in the system of resource provision for enterprise development when forming an investment development strategy are highlighted. A matrix for defining the plan's priorities for investment provision of enterprise development is developed. It is substantiated that investment risk depends on numerous factors that directly influence the choice of investment strategy. To generalize the impact of these factors, a rating indicator is proposed, which considers the characteristics of investment attractiveness and the level of investment risk. The composition of attributes for assessing the investment attractiveness of the enterprise is justified, including the state of critical factors determining investment efficiency: technical-technological base of production; level of resource availability and efficiency of their use; economic parameters of business activity and financial condition of the enterprise; market demand dynamics and competitive intensity on the target market; level of management organization. Recommendations are provided for determining investment risk based on a summary of quantitative assessments of a complex of dangers and threats that are individual to each investment process participant.

Workplace Spirituality as Intangible Resource and Capabilities: As Seen in the Evidence of a Telco Company in the Disruptive Era

Previous research had analyzed the positive impact of spirit at work and spiritual leadership separately as independent variables toward organizational commitment and job satisfaction but had not examined it all at once through the strategic management resource-based view framework. This quantitative study, using SEM PLS, examined the spiritual leadership intangible resources (Vision, Hope-Faith, Altruistic Love, Meaning Calling, and Membership) as the factors to develop spirit at work capabilities, which positively influence Job Satisfaction and Organizational Commitment as the performance proxies. Based on a survey of the data taken from the biggest Telco company in Indonesia, going through volatile, uncertain, complex, and ambiguous (VUCA) phase, this research shows that spirituality matters in the resource-based view of strategic management framework, where resources and capabilities are intertwined in supporting performance. All hypotheses were significant, implying the criticality of embedding spiritual values in creating a greater purpose for all employees. Further qualitative research in this area would enrich workplace spirituality research.

Modeling of effective management of logistics supply of an industrial enterprise

Introduction. The economy and industry, which show a tendency to grow even in wartime, will require improved logistics and improved infrastructure. The implementation of such measures is based on scientifically based solutions in the effective management of high-tech (HT) production within the logistics management of integrated supply chains. The purpose of the paper is to determine an effective approach to inventory management at a high-tech industrial enterprise within the framework of developing a scientifically based inventory management strategy using the analysis of existing models. Results. The paper presents an analysis of the main models of operational inventory management of a high-tech enterprise: a single-product statistical model with deterministic demand, a model in the case of accounting for unsatisfied requirements, a model of inventory management based on random demand, a model in the case of loss of unsatisfied requirements, a model of a production system with periodic checks in case of random demand. It is emphasized that inventory management consists in establishing the moments and volumes of the order for their occupancy and distribution along the chains of the supply subsystem within the framework of strategic management. There is an orientation towards cost minimization. The whole inventory management process is imagined as a component of the supply-production-marketing system, which is managed on the basis of a complex logistics approach.Accounting for the features of each subsystem - supply, production, sales, as well as optimal management of resources, is based on cost minimization and leads to high-quality satisfaction of demand for ready-made innovative products with sufficient economic effect. Conclusion. Inventory management consists in establishing the moments and volumes of the order for their filling and distribution among the links of the supply subsystem. The listed inventory management models are intended for practical use, others are of interest because they allow you to understand the essence and identify the main properties of the inventory management system. Accounting for the specifics of each subsystem (supply, production, sales), as well as competent management of their resources, flows (financial, material, information), based on cost minimization, ultimately leads to the main goal of the IT of an industrial enterprise - high-quality satisfaction of demand for finished products with maximum economic effect.

Adding value to the VRIO framework using DEMATEL

PurposeStrategic management plays a pivotal role in the growth and success of organizations, significantly impacting their business performance and competitive edge. In today’s globalized markets, strategic management is gaining prominence as a means to enhance company performance and distinctiveness. Within this landscape, the evaluation of organizational effectiveness takes on heightened significance, complemented by the emergence of strategic management frameworks designed to secure enduring competitive advantages for businesses.Design/methodology/approachOne of the best known approaches to organizational resource assessment is the value, rarity, inimitability and organizational-oriented (VRIO) framework. However, this tool comes with inherent limitations that have hindered its advancement, primarily related to the need for less subjective means of identifying and assigning weights to resources and capabilities during the evaluation process. This study, therefore, endeavored to refine the VRIO framework, making it more transparent and empirically robust. To achieve this aim, the framework was combined with the decision-making trial and evaluation laboratory (DEMATEL) method (i.e. a multiple criteria decision analysis (MCDA) method), and a real-life application was conducted.FindingsThe evaluation system created was tested, and the results demonstrate that the dual methodology used can increase the understanding of resource appraisal and lead to more informed and potentially better evaluations of resources and capabilities. The strengths and shortcomings of this new structured evaluation model are also analyzed.Originality/valueThe authors know of no prior work reporting the integrated use of VRIO and DEMATEL in this study context.

The application of 5W2H management model in the construction of enterprise economic and strategic management system

Abstract The 5W2H management model, rooted in World War II, stands out for its simplicity and effectiveness in enterprise management, offering considerable advantages in strategy planning and execution. This study focuses on the model’s role in enhancing strategic economic management within businesses, combining qualitative and quantitative analyses of various enterprises’ strategic management frameworks. Implementing the 5W2H model led to notable enhancements in strategic definition, implementation efficiency, and tangible achievements. Specifically, businesses observed a 20% improvement in achieving strategic objectives, a 15% faster strategy implementation, and a 25% increase in strategic engagement among employees. Additionally, the model proved instrumental in improving internal communication, fostering better teamwork, and optimizing the allocation of resources. Our findings affirm the significant value of the 5W2H model in refining corporate strategy formulation and execution, highlighting its essential place in modern enterprise management practices.