Integrating the Content and Process of Strategic MIS Planning with Competitive Strategy*

This paper presents a framework that links strategic MIS planning and business strategy and relates it to competitive advantage and company performance. To achieve this objective, the paper first delineates the dimensions of strategic MIS planning, focusing on both content and process issues. The notion of fit within dimensions, between sets of dimensions (process and content), and between MIS planning and competitive strategy is also introduced. Next, employing the Miles-Snow typology of business strategy, the paper posits normative differences in the dimensions of strategic MIS planning along different business (or competitive) strategies. The implications of our study for both decision makers and scholars are discussed. Propositions that tie competitive strategy, strategic MIS planning, and company financial performance are then presented. The paper concludes by providing direction for future research.     

Manufacturing Proactiveness and Performance*

Since Skinner's [40] landmark article depicting the manufacturing function as the “missing link” in corporate strategic processes, a portion of the blame for inferior performance in many firms has been attributed to the subordinate strategic position of manufacturing. It has been argued that part of the solution to misalignments between the capabilities possessed by manufacturing and the requirements dictated by customers is for manufacturing to take a more proactive stance. However, little research has been reported which examines manufacturing proactiveness empirically. In this paper, we address this gap by developing an operational definition of manufacturing proactiveness and testing empirically whether a link exists between proactiveness and performance based on data collected from a sample of manufacturers. Based on the manufacturing strategy literature, we identify two major dimensions of manufacturing proactiveness: (1) the degree of manufacturing's involvement in the strategic processes of the business unit; and (2) the degree of commitment to a long-term program of investments in manufacturing structure and infrastructure aimed at building capabilities in anticipation of their need. We develop reliable scales for measuring each of the dimensions of proactiveness and use the data to provide evidence of a clear link between manufacturing proactiveness and business performance. We show that investments in structural programs coupled with either high levels of manufacturing involvement in strategic processes or planned investments in infrastructural programs correlate with higher than average performance.     

The Effects of “Going Private” Using Private Equity: The Newly Private Corporation and the Dimensions of Corporate Performance

The trend toward private ownership of corporations prompts a reexamination of the dimensions of corporate performance under a governance system that includes powerful owners and a reduced public presence. Using insights from corporate social responsibility and stakeholder theories and informed by agency theory, we develop a model regarding the performance implications of public corporations going private through the use of private equity. We put forth that in general going private tends to result in greater emphasis on corporate financial performance and in lesser emphasis on corporate social performance (CSP). Yet several variables, including the firm's capitalization, its post‐going‐private exit strategy, and its managerial discretion, are proposed to moderate the negative relationship between going private and CSP.     

A Study of the Role Played by Manufacturing Strategic Objectives and Capabilities in Understanding the Relationship between Porter's Generic Strategies and Business Performance

An appropriate alignment between business strategy, manufacturing strategic objectives and manufacturing capabilities reportedly influences business performance positively. However, few papers empirically analyse this proposition for the case of Porter's generic strategies of cost leadership and differentiation, and none jointly considers all four elements. This paper integrates strategies, capabilities and performance in a single model and proposes that both manufacturing competitive priorities and capabilities, articulated in terms of cost and flexibility, are essential for explaining the link between generic business strategies and business commercial and financial performance. Within this analytic framework, we test whether companies that emphasize one business strategy rather than another achieve a better alignment and superior performance. The analyses conducted with a sample of 148 Spanish manufacturers provide general support for these propositions and contribute to a deeper understanding of the role played by functional strategies in understanding the outcomes of business strategy.     

An examination of the strategic and operational impact of global sourcing on UK small firms

This paper presents three in-depth case studies of UK small manufacturers from the electronics manufacturing industry with global supply chains. There is no overlap in products, suppliers or customers and over time, each has developed a distinct and different strategy for managing an extended supply chain. The outcomes and experiences though are not markedly different. The operational challenges they encounter around quality and delivery, as well as the strategic dimensions of information asymmetry and capability fit are discussed. The study identifies the financial risks the firms are exposed to, the constraints to innovation and the wider strategic implications for long-term business performance.     

Data‐Driven Supply Chain Orientation and Financial Performance: The Moderating Effect of Innovation‐Focused Complementary Assets

Drawing on the complementary assets framework, this study explores the moderating effect of innovation‐focused complementary assets (CA‐I) on the relationship between a data‐driven supply chain orientation (DDSCO) and firm financial performance. To test the moderating effect, survey data gathered from 329 manufacturing firms in China were analysed using a moderated regression analysis. The results indicate that DDSCO has a significant positive effect on financial performance, and that capabilities for product and process innovation function as complementary assets moderating the DDSCO–performance relationship. The findings suggest that innovation‐focused complementary assets are performance differentiators when paired with a DDSCO and explain why some firms obtain financial benefits from the development of a DDSCO while others do not. Specifically, competitive advantage from a DDSCO may not be realized unless CA‐I and potentially other complementary assets are harnessed, thus providing useful practical guidance to managers. Hence, the study provides empirical support for the complementary assets framework.     

Linking IT Applications with Manufacturing Strategy: An Intelligent Decision Support System Approach

Research has indicated the importance of matching Information Technology (IT) applications or manufacturing systems with the competitive strategy of a company. Selection of the right type of IT application is, however, a challenging task. When a company with a given dominant process structure emphasizes two or more competitive priorities, such as quality, product flexibility, etc., an unaided manager faces a complex decision problem in choosing from alternative IT applications available in the areas of product design through distribution. In this paper, we develop an Intelligent Decision Support System (IDSS) to assist managers with assessment of the relative importance of competitive priorities in their organization, evaluation of the fit between the competitive priorities and their dominant process structure, and identification of the IT applications that are consistent with both the competitive priorities and the process structure. The IDSS is comprised of an interactive user interface, a knowledge database, a decision model, and a Knowledge-Based System (KBS) that was developed using the 1st Class KBS shell. Validation of the system illustrates that its performance is as good as the human expert, and it has the potential to facilitate effective and swift decision making in the selection of appropriate IT applications that best match an organization's manufacturing strategy. The choice and use of the right type of IT application should provide a company with a competitive edge.     

The Roles of Supply Chain Intelligence and Adaptability in New Product Launch Success

Many new product introductions continue to be unsuccessful, and while researchers have studied product development processes, relatively few studies directly address new product launch. We do so in the present research and posit that supply chain intelligence, defined as technological and competitive knowledge sourced and integrated from suppliers, customers, and competitors, plays an important role in explaining new product launch success. We further employ the knowledge‐based view to theorize that both supply chain adaptability and product innovation capability act as important mediators of the effects of supply chain intelligence on new product launch success and firm financial performance. While the former capability refers to a firm's ability to quickly adjust its supply chain to react to market and product design changes, the latter refers to the firm's proficiency in developing innovative new products. We test hypothesized relationships among these factors utilizing data collected in a survey of 229 U.S. manufacturing firms. Results point to the central role of supply chain adaptability in capturing the benefits of supplier technological intelligence for enhanced product innovation capability, new product launch success, and firm financial performance. In contrast, product innovation capability serves as the generative means by which customer and competitor intelligence is translated into more successful new product launches, which, in turn, produce superior firm financial performance. Overall, these findings contribute to a better understanding of factors that can explain why certain product launches are more successful than others, and offer practical insights for appropriate investments in the development of related knowledge resources.     

基于集成支持向量机的企业财务业绩分类模型研究

要想正确预测公司财务业绩,首先必须选择合适的预测方法。现有文献所采用的财务业绩预测模型普遍存在着泛化能力不强的问题。本文提出用支持向量机方法来预测我国上市公司的财务业绩。为了提高预测准确率,本文还用AdaBoost算法对支持向量机进行了改进(集成支持向量机)。在支持向量机核函数的选择上,我们采用了实验法,即对每个核函数及其相关参数的预测效果都进行了测算,以期找出最适用的预测模型。实证结果表明,径向基核函数(rbf)的效果最好,支持向量机方法预测准确率远远高于其它方法。     

Research Notes on the Best British Companies: a Peer Evaluation of Britain's Leading Firms

The assessment of company performance is one of the major dilemmas facing the strategic researcher. This paper reviews the alternative methods available, then uses one approach, peer assessment, to produce a guide to British company performance. Britain's best companies are identified and their profiles are examined. Their declared financial strengths and relative weaknesses in marketing and innovation are identified.     

基金公司竞争策略研究——基于产品创新和机制创新视角

本文以2004-2012年提供开放式基金的基金公司为研究对象,以基金公司市场份额为切入点,利用动态面板模型,检验了基金公司历史业绩、产品创新策略和机制创新策略在基金公司竞争中的有效性。实证结果显示历史业绩是影响基金公司市场竞争力的重要因素,基金投资者偏好具有产品创新能力和机制创新精神的基金公司,并不热衷于投资成立时间久、旗下基金数量众多的老牌金公司,对基金公司股东背景也没有显著偏好。进一步细分市场发现,在股票型基金市场上,实施创造明星策略有利于获得更高市场份额。在债券型基金市场上,提高新基金供给量和相对供给强度是最优策略。与股票型基金市场相同,在混合型基金市场上提供具有实质性创新特征的新基金、增加基金从业者持基的基金数量,有助于获得更大市场份额。因此,基金公司决策层在制定竞争战略时,应当考虑基金投资者对产品创新认知能力的提高和对利益绑定机制的诉求,依据基金类型的不同,设计具有针对性的竞争策略。     

The Roles of Worker Expertise,Information Sharing Quality,and Psychological Safety in Manufacturing Process Innovation: An Intellectual Capital Perspective

This paper examines the roles of three elements of intellectual capital in implementing process innovations. Building upon prior literature, we develop a model describing how worker expertise, information sharing quality, and psychological safety work together as elements of the human, structural, and social dimensions of intellectual capital to influence the technical success of manufacturing process innovation (MPI) projects. Results of an analysis of data describing 179 MPI projects in US firms strongly support a multidimensional, process‐oriented view of intellectual capital's effects on MPI project technical performance. We also find that the incrementalness of an MPI project plays a moderating role over the relationship between worker expertise and MPI performance. Our study provides insights on how intellectual capital can be more effectively accumulated in a project environment.     

Understanding the links among innovation performance,market performance and financial performance

Innovation and its impacts on business performance are strategically vital deliberations for modern business organizations. In this study, we examine how innovation performance affects two different facets of firm performance: market performance and financial performance. Many studies address the relationship between innovation and business performance, but few empirical studies analyze the interplay between those variables. Research results reveal a suppression effect of market performance on the innovation–financial performance relationship. We find a negative direct relationship between innovation and financial performance; however, market performance reverses this negative effect to a positive total influence through its suppression effect. This result indicates the vital role of market performance in converting innovation to positive financial outcomes. The proposed mediation model is relevant regardless of the set of firm-level and environmental contingency variables.     

Production strategy decisions a simulation model approach

Model building in physical, statistical, simulation or other form, is making an increasing contribution to the problem solving methodology in economics, industry, government, and technological development (1). More specifically, in the present context, simulation models can offer a distinctive and valuable contribution to the understanding by management of complex business systems, interactions and environment and indicate ways toward improvement, financial and otherwise (2). The advent of powerful computers in the last few years is the decisive factor which has decided the means of realizing the full potential of simulation models, hitherto unattainable because of the vast amount of data processing and calculation required. The purpose of this article is to indicate the approach to and scope of a computerized simulation model for long term production strategy decision making (3). While the model relates to the system and data of a specific production unit, manufacturing electronic components, the principles are widely applicable in any size and type of company. It is not a specifically large company technique.     

What affects new venture firm’s innovation more in corporate venture capital?

Although corporate venture capital (CVC) is a potential source of innovation, few studies have directly examined the impact of a parent company’s knowledge and resources on a new venture firm’s innovation performance. This article investigates the impact of experience with parent’s alliance and investment intensity on the extent to which new ventures in the U.S. use their parents’ knowledge and financial resources for their innovation activities at the inception of the CVC relationship over a 44-year period. Our findings suggest that ventures with alliance experience draw more on collaboration knowledge and relational capital, while investment intensity also increases innovation. At a low level of investment complexity, the use of alliance experience and investment intensity is positively related to innovation performance. However, when a parent company has high investment complexity for innovation performance, investment intensity and alliance experience are less effective. Our results, thus, unveil the CVC backing associated with the innovation of new venture firms.     

Do dimensions of culture exist objectively? A validation of the revised Minkov-Hofstede model of culture with World Values Survey items and scores for 102 countries

Decades ago, Hofstede claimed that dimensions of culture are entirely subjective creations. In this study, we claim that some measures of culture have an objective element. We focus on Hofstede's classic model, reduced to just two dimensions: individualism-collectivism (IDV-COLL) and long-term orientation, renamed “flexibility-monumentalism” (FLX-MON). Recent studies showed that: (1) all valid and reproducible dimensions of culture, from all models, are essentially variants of these two, (2) this 2D model has a close analogue in dimensions of behaviors measured across the world's countries, (3) the same model emerges across the 50 US states, (4) an analysis of all recurrent culture-related items in the World Values Survey (WVS) yields a similar 2D model that can be further aligned with it after targeted rotation, (5) the model is aligned approximately with the Earth's geographic axes. In this study, we used WVS items and expanded Minkov's IDV-COLL and FLX-MON 55-country indices with scores for another 47 countries. Our IDV-COLL and FLX-MON 102-country indices are predictors of 20 important extraneous variables, relevant in international business (such as transparency-corruption, political and economic freedom, competitiveness, innovation output, ICT adoption, fatalities in transport and industry, gender equality, economic equality, educational achievement, working hours, violent crime, etc.). Of all dimensions of culture, IDV-COLL and FLX-MON are the only predictors of the two factors behind these extraneous variables. IDV-MON and FLX-MON also yield the highest correlations with objective geographic variables, such as latitude-longitude, Welzel's “cool water”, as well as pathogen prevalence. This gives further credibility to the revised Minkov-Hofstede 2D model and confirms its objective element.     

Innovativeness as an Unintended Outcome of Franchising: Insights from Restaurant Chains

A growing trend in improving innovation outcomes is to go outside the firm's boundaries. One mechanism by which firms extend organizational boundaries is through franchising their channels. Yet, the effects of franchising on innovation outcomes have been overlooked in the literature. We propose that a firm's emphasis on franchising will affect its organizational innovativeness, conceptualized as product and process innovativeness, independently and with other firm characteristics—franchising experience, firm size, financial leverage, and slack resources. We find support for our hypotheses using a nonlinear seemingly unrelated regression model estimated using panel data from 38 U.S. restaurant chains between 1992 and 2005. The positive effect of the emphasis on franchising on product innovativeness is stronger for firms with high financial leverage, but weaker for firms with high slack resources. For process innovativeness, the effect is stronger for firms with high financial leverage but weaker for large firms, and for firms with high franchising experience and high slack resources. The findings indicate that a firm's emphasis on franchising has contingent effects on product and process innovation outcomes. Thus, franchising emerges as a competing mechanism (to alliances and joint ventures) that extends organizational boundaries and affects organizational innovativeness.     

Investment in Facility Changeover Flexibility for Early Entry into High‐Tech Markets

A model is introduced to analyze the manufacturing‐marketing interface for a firm in a high‐tech industry that produces a series of high‐volume products with short product life cycles on a single facility. The one‐time strategic decision regarding the firm's investment in changeover flexibility establishes the link between market opportunities and manufacturing capabilities. Specifically, the optimal changeover flexibility decision is determined in the context of the firm's market entry strategy for successive product generations, the changeover cost between generations, and the production efficiency of the facility. Moreover, the dynamic pricing policy for each product generation is obtained as a function of the firm's market entry strategy and manufacturing efficiency. Our findings provide insights linking internal manufacturing capabilities with external market forces for the high‐tech and high‐volume manufacturer of products with short life cycles. We show the impact of manufacturing efficiency and a firm's ability to benefit from volume‐based learning on the dynamic pricing policy for each product generation. The results demonstrate the benefits realized by a firm that works with its manufacturing equipment suppliers to develop more efficient and flexible technology. In addition, we explore how opportunities afforded by pioneer advantage enable a firm operating a less efficient facility to realize long term competitive advantage by deploying an earlier market entry strategy.     

制造业企业投入服务化战略的影响因素及其绩效：理论框架与实证研究

制造业企业的投入服务化趋势日益明显,但相关的理论研究尚有欠缺。针对此问题界定了投入服务化战略的维度,对投入服务化战略的影响因素及其绩效进行识别,形成概念模型,据此提出一系列研究假设,并利用来自中国企业的问卷调查数据和基于PLS的结构方程模型实证检验研究假设,得出一些管理启示。     

过程系统管理与技术的综合集成

在激烈的市场竞争中,过程企业不仅要重视技术、更要加强管理,实现全局优化运行。提高过程企业的市场竞争能力必须全面综合集成人、组织、战略管理、经营管理、过程管理及信息自动化技术等因素。本文以石化企业为背景,对过程企业面临的问题及发展趋势进行了分析,并且对过程企业管理模式、过程企业的体系结构以及过程集成与优化技术进行了探讨。