Succeeding at new businesses: a matrix to measure flexibility

2014 ◽  
Vol 35 (5) ◽  
pp. 23-30 ◽  
Author(s):  
David J. Burns

Purpose – This purpose of this paper is to suggest and develop an alternative model, the Opportunity Assessment Matrix, to address some of the primary strategic issues in the business environment of today. Changes in the business environment are increasing the need for strategic planning, but it has also diminished the value of some of the classic tools used in strategy formation in the past, such as portfolio models. Design/methodology/approach – The shortcomings in applying portfolio models from the past to today’s business environment are discussed, providing a basis for the developing the Opportunity Assessment Matrix. Findings – The Opportunity Assessment Matrix is introduced as a means to evaluate the ability of an organization to successfully undertake and exploit new business opportunities. The proposed model is based on two dimensions – operational flexibility and market potential. Originality/value – The Opportunity Assessment Matrix facilitates an assessment of new business and product opportunities. With today’s ever-changing customer needs, the identification and exploitation of new product and business opportunities have become critical for the ongoing success of many firms. Most attempts by business firms to exploit new opportunities, however, are not successful, often due to a lack of an understanding of the market potential realization or an inadequate consideration of possible internal constraints. The Opportunity Assessment Matrix addresses both of these issues by examining the match between potential market opportunities and a firm’s ability to exploit them.

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mirka Kans ◽  
Anders Ingwald

PurposeThe purpose is to describe new business opportunities within the Swedish railway industry and to support the development of business models that corresponds with the needs and requirements of Industry 4.0, here denoted as Service Management 4.0.Design/methodology/approachThe study is an in-depth and descriptive case study of the Swedish railway system with specific focus on a railway vehicle maintainer. Public reports, statistics, internal documents, interviews and dialogues forms the basis for the empirical findings.FindingsThe article describes the complex business environment of the deregulated Swedish railway industry. Main findings are in the form of identified business opportunities and new business model propositions for one of the key actors, a vehicle maintainer.Originality/valueThe article provides valuable understanding of business strategy development within complex business environments and how maintenance related business models could be developed for reaching Service Management 4.0.


2018 ◽  
Vol 30 (2) ◽  
pp. 187-194
Author(s):  
Vladimir Jerebić ◽  
Stanislav Pavlin

The shipping market is an economic derivative of global production and trade, being precariously subject of their cyclic changes, depressions and expansions. This paper analyses the condition of global container shipping market, caused by long-lasting economic and financial crisis that begun in 2008, but is still much visible within the container industry, particularly through overcapacity and low freight rates. It also deals with major changes of maritime container carrier’s management strategies, development and application of advanced transportation, technological, technical, economical, organizational and commercial measures in order to adapt and cope with new business environment. Finally, an attempt is made to forecast the market, potential difficulties and to propose problem-solving measures.


Author(s):  
Leo Tan Wee Hin ◽  
R. Subramaniam

Singapore has put in place an advanced broadband telecommunications infrastructure in both the landline and wireless domains to support the growth of intelligent enterprises in the new economy. A pro-business environment modeled on a slew of policy frameworks, the presence of an e-government, and the entrenching of a transparent e-commerce ecosystem, have led to the rise of intelligent enterprises as well as encouraged other businesses to re-engineer various aspects of their operations to tap new business opportunities and improve their operational efficiencies. M-commerce initiatives are also helping to fuel the growth of online commerce. The need for state intervention to drive growth and applications has been found to be very important.


2019 ◽  
Vol 33 (4) ◽  
pp. 429-435 ◽  
Author(s):  
Mohamed Zaki

Purpose The purpose of this paper is to discuss digital transformation and its four trajectories – digital technology, digital strategy, customer experience and data-driven business models – that could shape the next generation of services. This includes a discussion on whether both the market and organizations are all ready for the digital change and what are the opportunities that will enable firms to create and capture value though new business models. Design/methodology/approach Providing services is a proven and effective way to secure a competitive position, deliver long-term stable revenues and open up new market opportunities. However, it is also clear that some organisations are struggling to digitally transform. Therefore, the commentary provides a brief insight into how firms explore the possibilities of digital transformation and navigate these uncharted waters. Findings Today’s digital technologies affect the organisation outside and in, enabling the creation of new business models and transforming the customer experience. The incumbents are acutely aware that they need to transform strategically – to build new networks and value chains. Originality/value This commentary extends earlier work exploring the digital disruption within services to highlight a number of connected areas: the challenges and opportunities of digital transformation at a strategic level, as well as understanding and enhancing the customer experience and seeing how new data-driven business models can underpin service transformation.


2020 ◽  
Vol 11 (3) ◽  
pp. 575-587
Author(s):  
Tevfik Demirciftci ◽  
ChihChien Chen ◽  
Mehmet Erdem

Purpose The purpose of this paper is to present an overview of revenue management (RM) studies that focus on information technology (IT) and consumer behavior published between 2008 and 2018. Design/methodology/approach In total, 112 articles published in 17 journals were identified and analyzed. Findings This study shows the importance of IT and RM and focuses on the consumer perspective. It also emphasizes that technology is not the enemy of humans: it complements and adds value to their existing jobs. Research limitations/implications Book chapters and conference proceedings related to IT and RM were not included in this study. Besides, only journal papers published in English were included in the study. The categorizing of subjects can be seen as subjective. Practical implications This study helps researchers discover articles from 2008 to 2018 and helps hospitality executives interested in RM technologies from the demand side to use these findings in their business environment. Originality/value Based on the interaction between service providers (hotels) and users (consumers) on IT and RM platforms, the paper identified eight key components that have been relevant over the past decade.


Kybernetes ◽  
2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mingnan Jiang ◽  
Yang Gao ◽  
Mingwei Jin ◽  
Sitong Liu

Purpose The purpose of this study is to explore a sustainable hierarchical framework for the business environment in smart cities. However, this hierarchical framework must consider unnecessary attributes and interrelationships between criteria to capture the difference between smart cities and traditional cities. Design/methodology/approach Hence, the fuzzy set theory is used for screening unnecessary attributes, the decision-making and trial evaluation laboratory (DEMATEL) is applied to manage the complex interrelationships among the aspects and attributes and interpretive structural modeling (ISM) is used to divide the hierarchy and construct a hierarchical theoretical framework. Ultimately, this research is applied to develop a sustainable hierarchical framework of the business environment in smart cities. Findings The results show that traditional social problems are still at the core of business environment development in smart cities, new smart opportunities may be discovered, but they are still limited by traditional social factors, the economy is still the main aspect of the business environment and there are still obstacles to solving social problems with smart technologies. Originality/value This theoretical hierarchical framework aims to guide smart cities toward sustainability. This study also proposes creating a predictable business environment by improving administrative efficiency, transparency, social mobility and infrastructure services and cultivating new business opportunities with intelligent technology.


2014 ◽  
Vol 19 (5/6) ◽  
pp. 523-557 ◽  
Author(s):  
Muhammad Mustafa Kamal ◽  
Zahir Irani

Purpose – This paper aims to focus on systematically analysing and synthesising the extant research published on supply chain integration (SCI) area, given the significance of SCI research area. More specifically, the authors aim to answer three questions: “Q1 – What are the factors (e.g. both driving and inhibiting) that influence SCI?”, “Q2 – What are the key developments (e.g. both in research and industry) in SCI area?” and “Q3 – What are the approaches employed/discussed to integrate supply chains?”. Over the past decade, SCI has gained increasing attention in the supply chain management (SCM) context, both from the practitioners’ perspective and as a research area. In realising the global transformations and competitive business environment, a number of organisations are collaborating with their supply chain (SC) partners, to conduct seamless SC operations. Design/methodology/approach – A systematic and structured literature review is carried out to observe and understand the past trends and extant patterns/themes in the SCI research area, evaluate contributions and summarise knowledge, thereby identifying limitations, implications and potential directions of further research. Thus, to trace the implementation of SCI practices, a profiling approach is used to analyse 293 articles (published in English-speaking peer-reviewed journals between 2000 and 2013) extracted from the Scopus database. The Systematic Review Approach proposed by Tranfield et al. (2003) was followed to analyse and synthesise the extant literature on SCI area. Findings – The analysis presented in this paper has identified relevant SCI research studies that have contributed to the development and accumulation of intellectual wealth to the SCI and SCM area. Each of the 293 papers was examined for achieving the aim and objectives of the research, the method of data collection, the data analysis method and quality measures. While some of the papers provided information on all of these categories, most of them failed to provide all the information, especially for Q2 and Q3 that resulted in 23 and 21 papers, respectively. Research limitations/implications – This study would have benefited from the analysis of further journals; however, the analysis of 293 articles from leading journals in the field of operations and SCM was deemed sufficient in scope. Moreover, this research has implications for researchers, journal editors, practitioners, universities and research institutions. It is likely to form the basis and motivation for profiling other database resources and specific operations and SCM-type journals in this area. Practical implications – This systematic literature review highlights a taxonomy of contextual factors driving and inhibiting SCI for researchers and SC practitioners to refer to while researching or implementing SCI. It also exemplifies some areas for future research, along with the need for researchers to focus on developing more practical techniques for implementing SCI and improving organisational performance. Originality/value – The prime value and uniqueness of this paper lies in analysing and compiling the existing published material in relation to Q1, Q2 and Q3, including examining other variables (such as yearly publications, geographic location of each publication, type of publication, type of research methods used), which lacks in the recent published five SCI literature review-based articles (by Kim, 2013; Leuschner et al., 2013; Alfalla-Luque et al., 2013; Parente et al., 2008; Fabbe-Costes and Jahre, 2007). This has been achieved by extracting and synthesising existing publications using “Supply Chain Integration” keyword. This paper provides a critique of the conceptual and empirical works in SCI discipline and offers research agendas that can stimulate future researchers to carefully explore the topic.


2021 ◽  
Vol 92 ◽  
pp. 07015
Author(s):  
Jaroslav Dado ◽  
Lenka Hvolkova ◽  
Janka Taborecka

Research background: Globalization - the process of increasing social, cultural, political, and economic interdependence - has resulted in several changes in business environment. Global market opportunities and threats are major effects of globalization; they refer to the increases in market potential, trade and investment potential and resource accessibility. Global market threats refer to the increases in the number and level of competition, and the level of uncertainty. Global competitors can have the impact on bankruptcy of local SMEs in less developed or smaller countries. Are globalization in economics and company bankruptcy related? In the past, the cause of bankruptcy was mainly in the company itself. The development of globalization has brought a number of positive as well as a number of negative consequences for several areas of society. Is one of the negative effects of globalization the bankruptcy of companies? Purpose of the article: The paper presents a classification of external and internal causes of bankruptcy and indicators of the threat of company bankruptcy. The paper also focuses on the results of the research analysis about the causes of small and medium-sized enterprises mortality in Slovakia and the impact of globalization factors as the causes of their bankruptcy. The analysis of bankruptcies is oriented on the research of the causes of small and medium-sized enterprises mortality in Slovakia and the influence of globalization factors as the causality of their bankruptcy. Methods: The research sample presents structured interview with 16 SMEs´ owners. They identified more aspects of globalization impact to Slovak SMEs bankruptcy. Findings & Value added: The results of research indicate that there is an evidence of impact of globalization on the bankruptcy of SMEs in Slovakia, but there are some differences among various industries.


2020 ◽  
Vol 10 (1) ◽  
pp. 1-19
Author(s):  
Sushmita Biswal Waraich ◽  
Ajay Chaturvedi

Learning outcomes The student will be able to understand the concept of spotting an opportunity and exploiting the same. The student will be able to comprehend the various challenges faced in the development of a business idea. The student will be able to understand the strategies that need to be adopted to cope with and grow, in a competitive business environment. Case overview/synopsis Samar Singla, the Chief Executive Officer of Jugnoo, had sensed a business opportunity in auto rickshaw aggregation. He was convinced that being among the initial players in the market of auto rickshaw aggregation, there would be very little competition. He only had to play his cards right, to become the top auto aggregator. As Singla started the business, there were challenges like inducting the auto rickshaw drivers as partners, training them, hiring the right team, putting the right strategies in place and to expand the business. Singla launched and achieved robust growth in the new business, in a short period of time. Soon, however, Jugnoo felt competition breathing down their neck – form cab aggregators who were already dominant players in the cabs aggregation segment, in the large cities. To hedge their risks, Singla added other services such as “Meal” (meal delivery) and “Fatafat” (goods delivery) – as B2C and B2B services. These services, however, had to be closed soon after because of stiff competition from the local players. Singla also adopted the inorganic growth path by acquiring “Sabkuch,” a grocery delivery logistics firm; “Yelo,” a platform that provided online access to businesses and “BookMyCab,” a taxi aggregation company. Faced with tapering growth after an initial steep rise, Singla had to confront a dilemma about the right method of ensuring growth in the face of competition. Complexity academic level Under graduate, masters in business administration and post graduation in the areas of entrepreneurship and strategy. Supplementary materials Teaching Notes are available for educators only. Subject code CSS 11: Strategy.


2011 ◽  
Vol 2 (4) ◽  
pp. 44-60
Author(s):  
Markus Eurich ◽  
Claudia Villalonga ◽  
Roman Boutellier

New business opportunities rarely conform to the way the industry traditionally approached the market, which is an opportunity for newcomers and flexible small and medium-sized enterprises to be the first in recognizing and taking advantage of emerging market opportunities. However, newcomers and small and medium-sized enterprises may be too young or too small to possess all the required competencies and resources. They need to organize themselves in business networks, in which business partners complement each other. This article suggests a sketch of the form and methods of a framework that allows the ‘Quality of Information’-based discovery of potential business partners who can offer resources like sensors, actuators, and processing services. In the Real World Internet, this would enable small and medium-sized enterprises to create an appropriate business network and to quickly react to emerging business opportunities.


Sign in / Sign up

Export Citation Format

Share Document