Strategic Management Tool Research Articles

Using interpretive structural modelling and quality cost model to solve project completion delay in shipyard case study in PT X

Purpose – This research proposes an alternative method to solve completion delay issue and optimized the strategy using ISM technical method and Quality Cost Model application. Design/methodology/approach – Data was acquired from 120 questions from company key persons that involved in project for last 5 years. The instruments processed using ISM analysis to measure the relationship among causes, then using Quality Cost Model to solve. Findings – This research shows that factors of late payment from client, delays in bank credit processing, bad weather, and design changes by owners are the root causes of delays. Further analysis using the Theory of Constraint (TOC) shows that financial constraint issues influence the decreased throughput and increase operating cost. Further management use five sequential steps to improve the management and P-A-F models as one of strategic cost management tools applied to the root causes to determine the optimum cost strategy to solve the problem. Research limitations/implications – This research was conducted using a case study method, and the conclusion related to problem and root cause may not be applied totally to other companies, but the framework may be applicable. Future research can investigate other issue using TOC framework, combine TOC with other models to conduct root cause analysis, and the COQ model implementation in shipyard management. Practical implications – This research demonstrates that management can use Interpretative Structural Modelling (ISM) analysis to determine the root cause, then analyse and overcome the issues using TOC framework. COQ model approach to sharpening the decision, and prioritize the resources allocation. Originality/value – This research combine ISM, TOC, and PAF Quality Cost Model approach for decision making which can be a management tool in strategic cost management.

Development of a Safety Heavy-Duty Vehicle Model Considering Unsafe Acts, Unsafe Conditions and Near-Miss Events Using Structural Equation Model

The World Health Organization has revealed that Thailand ranks first in Asia with regard to the region’s road traffic death rate. Due to the growth in the domestic economy and demands in logistics, traffic congestion regularly occurs and brings higher risks to transportation, resulting in a constant increase in the accident rate involving heavy-duty vehicles (HDVs), with a tendency to escalate in the future. To prevent its occurrence and solve the problem, this research aims to present a “Safety HDV Model” based on four dimensions, namely, driver behaviors, unsafe roadway environment, types of vehicles and near-miss events, which are all considered as causes of accidents. In this study, the researchers use the Delphi method to obtain a consensus from experts in logistics and safety from both public and private organizations, and then they define indicators and assess the complex dimensions. Based on the consensus, the researchers find 4 dimensions, 15 factors and 55 indicators with a high level of consensus at the Kendall’s coefficient of concordance (W) of 0.402 and P less than 0.001 to be relevant to safety in logistics. To estimate the influences among dimensions, the researchers apply a structural equation model and find that both absolute fit indices and incremental fit indices demonstrate good fit, with a CMIN/DF of 1.90, RMSEA of 0.048, GFI of 0.95, AGFI of 0.92 and RMR of 0.032 for the absolute fit indices and NFI of 0.97, CFI of 0.98, TLI of 0.98 and IFI of 0.98 for the incremental fit indices. As the model is consistent with data and variables, it is considered to be valid to be adopted by responsible authorities to improve unsafe roadway environments and behaviors of HDV drivers. As the data in the model can be altered by location, the model can be utilized as a tool in strategic planning and management to prevent accidents in each area of the country in the future.

Strategi Komunikasi Pemasaran Penyelengaraan Event Dan Festival Pariwisata Di Kabupaten Banyuwangi

Banyuwangi Festival 2022, is a cultural arts event in Banyuwangi district, it is hoped that holding the event for one year can have a multiplier effect for the people of Banyuwangi. An integrated communication strategy or Integrated marketing communication in promoting tourism in the Banyuwangi area is determined by the Banyuwangi Tourism Office in the advertising and event categories. By using qualitative research methods to describe an integrated marketing strategy for the Banyuwangi Festival in 2022, the Banyuwangi Regency Tourism Office is optimistic about development efforts and efforts to increase the number of tourist visitors, both local and foreign. Therefore, this marketing strategy can be a strategic management tool to ensure the right type of consumers, namely pro-sustainable tourists, who come to tourist sites, and to consider destination capacity and visit management. Therefore, this marketing strategy can be a strategic management tool to ensure the right type of consumers, namely pro-sustainable tourists, who come to tourist sites, and to consider destination capacity and visit management. .

ON THE MANAGEMENT OF AN INDUSTRIAL ENTERPRISE BASED ON POTENTIAL INDICATORS

The article is devoted to the consideration of potential indicators as tools of operational and strategic management. Within the framework of operational management, it is necessary to maintain the achieved level of development, and strategic management should be aimed at developing the capabilities of the enterprise, its potential. The operational and strategic parameters of ensuring the competitiveness of the enterprise are identified. To build the indicators of potential, strategic structures of the enterprise have been formed, showing a quantitative representation of the economic, technological and organisational structures of the enterprise (in the form of grouped costs in a certain way). Based on the use of strategic structures, the actual and target values of the enterprise’s potential as criteria for assessing the level of development in economic, technological and organisational terms are formed. The use of strategic structures makes it possible to carry out operational balancing of the company’s expenses when the actual costs exceed the planned level, as well as to change the company’s structure during the transition to the manufacture of new products or for the purposes of crisis management.

FORMATION OF INVESTMENT ATTRACTIVENESS OF RURAL AREAS IN CONDITIONS OF UNCERTAINTY OF THE COMPETITIVE ENVIRONMENT

Introduction. In the conditions of the post-war recovery of the economy of Ukraine, the formation of the investment attractiveness of rural areas for the activation of infrastructure development cannot take place without the active application of management strategies and analytical tools. One of the main directions of forming the investment attractiveness of rural areas in conditions of uncertainty of the competitive environment is the application of these methods as an effective modern tool of strategic management of infrastructure development.
 The hypothesis of the scientific research consists in the study of the process of forming the investment attractiveness of rural areas in the conditions of uncertainty of the competitive environment, as a given condition for managing the existing potential.
 The purpose of the study is to substantiate at the theoretical level the formation of the investment attractiveness of rural areas in conditions of uncertainty of the competitive environment.
 The methodology of scientific research is general scientific and special research methods: All scientific research conducted within the framework of analyzing the investment attractiveness of rural areas in conditions of uncertainty of the competitive environment use general scientific methods, such as the method of scientific abstraction, the method of analysis and synthesis, the method of the unity of historical and logical, positive and normative methods, as well as specific research methods.
 Conclusions. It was determined that in modern conditions, according to the specifics of the formation of the investment attractiveness of rural areas in conditions of uncertainty of the competitive environment, the conceptual positions are: increasing investment potential due to the activation of innovative development of rural areas; increasing the volume of export-import operations to increase the competitiveness of domestic products in rural areas; development of international relations, taking into account geo-economic changes and trends.
 Keywords: integration potential; rural areas; integrative and innovative development; business entities; factors of the external and internal environment; investment attractiveness; investment strategy.

Strategy formulation activities with emphasis on strategic management tools and techniques in Slovak companies

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

PRODUCT PROFITABILITY ASSESSMENT

Product profitability assessment is one of the strategic management tools used in planning and managing product costs, or target profit. Product cost planning and management unfold as early as the development phase, as well as during the adoption of modern production processes. Target profit and product competitiveness on the market require continuous monitoring of market prices, as well as managing costs incurred in the production process. The paper presents the methodology used for product profitability assessment, which is based on the evaluation of product costs and maintaining competitive market prices.

Justification of Management and Financial Decisions to Increase the Adequate Provision with Medical Staff of the Cluster in the Sphere of Health Protection in the Baikal Region

The importance of a sufficient level of staffing for the functioning and development of any cluster can hardly be overestimated. This is especially true when it comes to the cluster in the field of health care. The purpose of this article is to substantiate the need to make a number of managerial and financial decisions based on an analysis of the problems with the provision of medical personnel for a cluster in the field of health care in the Baikal region. The study, carried out with the help of a system-think-activity approach, made it possible to fix that the cluster in the field of health care in the Baikal region is experiencing a significant shortage of medical personnel. At the same time, the analysis revealed negative demographic trends in the region, combined with unsatisfactory indicators of the health of the population. It has been revealed that the programs adopted by the state authorities do not allow increasing to the required extent the provision of medical staff for the cluster’s organizations. The allocated volumes of public funding are insufficient, and the developed management decisions do not meet the challenges of the time. The proposals have been developed, using strategic management tools, aimed at leveling the weaknesses and reinforcing the advantages identified in the Baikal cluster in the field of health care. The proposals are aimed at using the opportunities that open up for a medicine thanks to modern information and communication technologies and to reorientation of the State policy to the use of national financial resources, primarily budgetary ones, as a result of revising theoretical approaches to the role of a State in the economy.

Adaptation of corporate management and human resource management in non–profit organizations

The socio–economic changes that societies have been experiencing in recent decades, caused by structural factors or specific circumstances, cause the emergence of problems, the solution of which the public sector, due to various circumstances, cannot fully provide. In these conditions, the activities of non–profit organizations — organizations of the third sector — require increasing efficiency and searching for the most effective mechanisms to ensure sustainable development and the achievement of social goals outlined in the mission of the organizations.Practice shows that there are serious differences in approaches to management in the corporate sector and the non–profit sphere. However, the methods of strategic management and human resource management characteristic of corporations can be adapted and successfully applied in the management of non–profit organizations. The paper concludes that in general, in order for these public organizations to be more effective in efforts to improve their management processes, they should focus on strategic management and human resource management tools.

СТРАТЕГІЇ УПРАВЛІННЯ ІНТЕГРАЦІЙНИМИ ВИРОБНИЧИМИ ЛАНЦЮГАМИ ЗА УМОВ ВПРОВАДЖЕННЯ ЦИФРОВИХ ІННОВАЦІЙ

The article analyzes the scientific development of the theory of networks and flows from the standpoint of using their methodological approaches to solve the problems of forming a strategy for managing the innovative potential of cluster associations and finding new ways of its practical implementation. Strategic directions of business clustering under the condition of its digitization should ensure legislative support, appropriate digital infrastructure, elimination of digital gaps compared to other sectors of the economy, creation of proper conditions for the use of network tools, digital security, availability of regulatory support for innovation and investment development of network structures. This approach made it possible to form a set of principles and a portfolio of technologies for the interaction of network and integration structures, as well as to develop a digital mode of socio-economic transformations of integration production networks as components of ensuring sustainable competitive advantages under the conditions of globalization challenges. Fundamental aspects include: creation of a digital environment in which interaction between participants takes place with the help of digital services; formation of a secure digital asset management system; moving from descriptive to predictive and then administrative analytics. Based on these principles, a set of methodological tools for strategic management of the potential of network associations was developed and the main stimulators of investment and innovation development of integration production chains were established; a scientific hypothesis was formed, according to which digital management of latent manifestations of positive cluster properties should become the basis for the sustainable development of business associations.

Strategic management tools for sports management in a public administration body

Physical activity and sport are basic requirements for a healthy population and public administrations should provide the necessary services for the wellbeing of their citizens. However, there are few clear directives around the priorities and objectives of administrations in terms of sports provision. The present study uses the case study method to show how strategic management tools are decisive when drawing up the strategic sports management policies of a town hall.

Development of competitive strategies by enterprises in the globalization of market

The subject of the study is the process of formation and implementation of competitive strategies of enterprises in the conditions of globalization of markets. The purpose of the article is to study the relationship between the globalization of markets and the development of competitive strategies of enterprises, as well as to provide recommendations to enterprises on the development of effective competitive strategies that take into account global trends and the peculiarities of local markets. The methodological basis of the article can be various research approaches and methods, depending on the specific orientation. The methods of economic analysis are used, in particular, comparative analysis of various competitive strategies, SWOT analysis, Porter's analysis, and others. Also used are methods of sociological research, in particular surveys of various groups of stakeholders, or methods of practical experience, including case studies of successful enterprises and their strategies. Results of the article. It has been established that in the conditions of globalization of markets, enterprises must develop competitive strategies that take into account the trends of global market development and the peculiarities of competition in different regions of the world. The main factors influencing the development of competitive strategies of enterprises in the conditions of globalization of markets are identified, in particular: changes in the political, economic, socio-cultural and technological environment, the growth of competition, changes in consumer requirements, the strengthening of the influence of regulatory bodies, etc. The main strategies that can be applied by enterprises in the conditions of globalization of markets, such as: differentiation strategies, cost reduction strategies, focusing strategies and combined strategies, are studied. It was found that the success of the company's competitive strategy in the conditions of globalization of markets depends on several factors, in particular: choosing the right strategy, effective management of resources, adaptation to local conditions and interaction with partners. Recommendations are given on the development and implementation of competitive strategies of enterprises in the conditions of globalization of markets, in particular: analyze trends in the development of the global market. An additional result is the identification of key factors that influence the formation and implementation of competitive strategies of enterprises in the conditions of globalization of markets. This enables enterprises to more effectively adapt to changing market conditions and develop their strategies based on the analysis of these factors. Field of application of results. The recommendations for the development of competitive strategies that have been formulated can be used by enterprises of various sizes and industries that wish to compete in international markets. In particular, the research can be useful for managers who are responsible for the development of company strategies, as well as for researchers and teachers who deal with problems of competitiveness of enterprises. Conclusions. The development of competitive strategies of enterprises in the conditions of globalization of markets is an important factor in their success and preservation of competitiveness. Effective selection and implementation of strategies requires a deep analysis of external and internal environmental factors, a thorough study of the competitive field, and the use of modern strategic management tools.

Water as a Strategic Resource in the Western Samaria Region – The Unique Case of Deir Sam’an: The Water System that Has Been Operating for 1,500 Years

ABSTRACT Maintaining a proper water supply is a subject of constant concern in arid and semi-arid regions of the world, including the Mediterranean Basin and, more specifically, Western Samaria. Solutions such as cisterns, reservoirs, water tunnels, and springs were developed and perfected throughout history to enable a regular supply of water to the local population. The case of Deir Sam’an is particularly interesting, as it seems the site's water storage capability is much larger than needed during its activity in the Roman-Byzantine period. At the site, located in Western Samaria, several Roman-Byzantine water systems were found including reservoirs and large cisterns. Its main water system, which is still operating, enables a reliable estimate of the available water amount to the site residents in antiquity. In the winter of 2020-2021, the daily precipitation volume and the annual rise in pool levels were measured and compared with the water amount at the end of the summer. The results validated that the water storage capability far exceeds the estimated demand of Deir Sam’an's population. This paper suggests that a large amount of water was utilized by the Byzantine Empire as a strategic management tool of settlement in the area to attract its preferred population to the Western Samaria region.

Анализ стратегических тенденций факторов, влияющих на рынок недвижимости Москвы

The paper provides a strategic analysis of trends in the real estate market development in Moscow, which, in the author’s opinion, may indicate a strategic threat of the formation of an emergency period in the housing market of the capital city. The emergency period in the study refers to a period of cyclical growth in market prices, characterized by excessive investment due to long-term speculative expectations of investors. The residential real estate market is one of the most important socio-economic areas, reflecting the well-being of the population, as well as influencing many significant industries in Russia. Any disturbances and shocks regarding real estate prices can lead to social unrest among the population and, as a result, a deterioration in their quality of life. Apart from that, the real estate market is closely connected with the construction industry, which is one of the powerhouses of the Russian economy. To prevent instability in the housing market, national and regional strategies should consider its sustainable socio-economic advancement as a national (regional) strategic priority. The purpose of the study is to identify some strategic trends that are necessary for analysis at the forecasting stage at the beginning of the strategy formation process. The article shows that some emerging strategic trends point to the existing likelihood of an emergency period in the housing market in Moscow, however, the strategic management tools implemented by the government and the banking sector effectively resist its occurrence, as well as other external factors.

SWOT analysis problems and solutions: Practitioners’ feedback into the ongoing academic debate

The literature on SWOT is characterized by a debate among academics who have identified problems and proposed solutions for the strategic management tool, yet little research to date has captured practitioners’ perspectives. Recent literature indicates that SWOT is still the most popular strategic management tool among competitive intelligence (CI) professionals. The purpose of this study is to bridge this academic-practitioner divide in the SWOT literature by conducting a cross-sectional survey that gathers practitioners’ feedback regarding whether they are experiencing the problems or employing the solutions proposed by academia. A survey was distributed via LinkedIn to collect data from CI and other business professionals who conduct SWOT in the workforce. The findings confirm that practitioners experience select problems identified by the literature. Specifically, they may have too many factors per SWOT category, may be defining factors with ambiguous and unclear words, and may not have a means for resolving conflicts when factors fall in multiple categories (e.g., opportunity and threat). The findings also indicate that practitioners may not be consistently conducting SWOT as a structured business process, as proposed in the literature. The feedback provided by CI and other business professionals aids in closing the academic-practitioner divide by more clearly identifying persistent issues with SWOT and creating valuable and actionable insights that will drive the continual improvement of this popular strategic management tool.

The impact of green training on employee turnover intention and customer satisfaction: An integrated perspective

AbstractThe current study aims to examine (1) the impact of green training on green experience, employee satisfaction, turnover intention, and customer satisfaction and (2) its implication on Green HRM effectiveness in the hospitality sector. A quantitative method was utilized to test a path model (PLS‐SEM). Two sets of questionnaires (for employee and customer sides) were developed for the hospitality sector to measure the causations between green training, employee turnover, and customer satisfaction. The findings suggest (1) green training creates green experience, (2) green experience influences both employee and customer satisfaction, (3) However, employee satisfaction did not affect turnover intention and customer satisfaction subsequently. The current study implies that investing in green training should be considered a tool of strategic hospitality management since the finding suggests that green training improves the overall performance of the hospitality sector with some limitations. Moreover, this paper reduced the literature gaps by constructing and empirically testing an integrated path model of green training on employee and customer experience, illustrating the impact of green training through the shared green experience forming the two stakeholders' experience and their interactions.

Leveraging the Balanced Scorecard for Online MBA Program Development: A Holistic Approach

The Association to Advance Collegiate Schools of Business (AACSB) accreditation process establishes that a business school meets the high standards set by a peer review board with administrators and faculty members from various accredited colleges and universities. This paper will synthesize the use of the balanced scorecard across four performance dimensions (financial, customer, internal process, and innovation) with the accreditation process for an online MBA program development effort. Specifically, the balanced scorecard will be examined as a strategic management tool for leveraging resource prioritization and allocation decisions needed to maintain accreditation while meeting the various stakeholders' needs, such as students, university, faculty, and administrators.

Strategic management of a public administration unit using Balanced Scorecard method

The strategic planning, finalized in a Development Strategy (DS), is becoming an important tool of the strategic management of an Administrative Territorial Unit (ATU, commune, municipality and county). The performance management through the performance management systems (PMS) is becoming absolute necessary and the used tools are in an on-going process. Balanced Scorecard (BSC) is a strategic planning and management tool that align the internal activities of an administrative or economic entity to its vision and strategy, improve the internal and external communications and monitor the entity’s performance. The objectives of this study are: (1) to develop a BSC model designed for the public administration, and (2) to show how to implement such a tool for a medium sized commune. Consequently, the research approach was developed in two phases. First, the identification of strategic objectives using Delphi technique, and second, the development of a tailored model for a commune, Dudeștii Noi located in the Timiș Country (West Region of Romania). Based on the proposed approach, the commune’s strategic priorities (Infrastructure, Culture/Tourism/Leisure time, Environment and Social/Health/Education) and the strategic objectives were mapped and introduced in a strategy map using BSC. Lead indicators and lag indicators were defined. Finally, the research conclusions indicate some BSC model’s possible developments for larger ATUs (municipalities, counties).

Rudiments of Sustainable Competitive Advantage in the Digital Age

Theoretical background: Progressive digitalization fundamentally changes companies’ strategies, business models, and operational activities directed to the achievement of sustainable competitive advantage and maximization of long-term company value. The recent COVID-19 pandemic has spurred even further an unprecedented acceleration in the development of digitalization processes in virtually all areas of the economy. The changed competitive reality requires modification of existing and development of new rules and tools of strategic management that will help contemporary companies to cope with the challenges associated with the new competitive landscape. The views on the ways of building a competitive advantage dominating in the literature on the subject become questionable in the light of changes related to the digitalization of the economy. In this context, the issue of defining the term “competitive advantage” in new conditions and its sources, first of all, the role of knowledge in shaping it, is of particular importance. Purpose of the article: This article aims to define sustainable competitive advantage and identify its sources in the digital economy. It also refers to the issue of new tools and areas of strategic analysis that companies should implement to formulate their strategies. Research methods: The considerations in the article are presented on the background of the extensive integrative literature review. The article uses the method of critical analysis and synthesis of opinions of other authors as well as logical inference. Main findings: The progressive digitalization of the economy fundamentally changes how modern organizations pursue competitive advantage as part of the implemented strategy. A sustainable competitive advantage should be equated with creating and capturing value rather than beating competitors. A prerequisite for sustainable competitive advantage is the development and application of innovative knowledge that creates essential value for customers in the long term. Strategic analysis in the digital age should embrace consumer needs, the organization’s network connections and data flow, the structure of platforms and digital ecosystems, the revenue streams in networks, the types of a network, and learning effects.

Corporate Social Responsibility in Family Firms: Status and Future Directions of a Research Field

This systematic literature review contributes to the increasing interest regarding corporate social responsibility (CSR) in family firms—a research field that has developed considerably in the last few years. It now provides the opportunity to take a holistic view on the relationship dynamics—i.e., drivers, activities, outcomes, and contextual influences—of family firms with CSR, thus enabling a more coherent organization of current research and a sounder understanding of the phenomenon. To conceptualize the research field, we analyzed 122 peer-reviewed articles published in highly ranked journals identifying the main issues examined. The results clearly show a lack of research regarding CSR outcomes in family firms. Although considered increasingly crucial in family firm research, a study investigating family outcomes (e.g., family community status, family emotional well-being), as opposed to firm outcomes, is missing. This literature review outlines the current state of research and contributes to the actual debate on CSR in family firms by discussing how family firms can use CSR activities as strategic management tools. Moreover, our analysis shows a black box indicating how CSR links different antecedents and outcomes. The black box is significant since firms generally need to know where to allocate their scarce resources to generate the best outcomes. We identify nine research questions based on these findings, which we hope will inspire future research.