Key factors of sustainable firm performance: a strategic approach
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Tarih
2015
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Zea E-Books
Erişim Hakkı
info:eu-repo/semantics/openAccess
Özet
The world is witnessing striking changes since the development of information technologies and their increased significance for business environments. These changes require firms to rethink the validity of their traditional methods for competing and for generating value. Traditional competition has already lost much of its effectiveness, and the uncertainty, dynamism, volatility, and impermanence of the new commercial environments are reconfiguring the foundations and premises of business competition. In this new environment, it is necessary to re-identify the factors that affect firm performance – to abandon classical perspectives and analyze those factors that play key roles in business performance from a new strategic viewpoint. Performance is a multidimensional concept that defines the success of a business as well as its level of achieving business objectives. Traditionally firms consult measures of performance like annual sales and firm size. Factors such as efficiency and effectiveness may be added to these two dimensions later. More recently, new dimensions of performance (such as utilization of inputs, quality, innovation, and quality of work life) have been added to the performance criteria, and the idea of what constitutes successful, effective, or sustainable performance has been very much broadened. Today, dimensions like employee behavior, market share, product or market leadership, and public responsibility must all be included in an evaluation. This book takes a strategic approach to explaining what key factors determine sustainable firm performance under the ruthlessly competitive conditions of our time. These key factors include creating knowledge, managing knowledge, managing environmental uncertainty, generating organizational intelligence, producing organizational knowledge, and strategically managing the supply chain. The main objective of this book is to help firms develop new strategies for outperforming their rivals in a rapidly evolving competitive environment. This book differs from other studies in that it brings a strategic viewpoint to the concept of sustainable firm performance – it looks for ways firms can develop and exploit their advantages and achieve their overall goals. Managers who read this book will learn to identify and analyze the key factors that make their firms effective, successful, and sustainable over time.
Açıklama
The development of information technologies and their increased significance for business environments have forced businesses to rethink traditional methods of generating value and surviving the hyper-competitive conditions of our time. The uncertainty, dynamism, volatility, and impermanence of modern commercial environments have shifted the foundations of business success and survival. Key factors that now affect firm performance and determine sustainability include knowledge creation, knowledge management, uncertainty management, organizational intelligence, and supply chain administration. The authors propose an analytical approach to identifying and enhancing these critical factors, and they describe ways for firms to exploit their strengths and minimize or compensate for their disadvantages. Sustaining business success requires competitive strategies that are rational and analytical. Firms that isolate their overall goals have an advantage over their rivals; those that can innovate and incorporate the knowledge and intelligence they develop will prosper, even in the most competitive situations. Managers and business practitioners should learn from this book how to identify the key factors that make their firms effective and successful, and how to ensure they remain sustainable over time.
Anahtar Kelimeler
Business, Competition, Knowledge, Supply Chain, Uncertainty
