Optimizing decisions using knowledge risk strategy

Purpose The paper aims to focus on a strategic approach for making trade-offs between knowledge and risk. Design/methodology/approach Knowledge and risk are viewed as organizational resources that have an inherent trade-off between them, so that optimal firm performance does not necessarily arise through greater accumulation of knowledge nor from reduced risk. This trade-off is represented as an efficient knowledge-risk frontier. The paper examines the dynamics of this frontier on organizational performance. Findings The concept of knowledge-risk strategy is presented which contends that non-probabilistic risk or uncertainty originates from gaps in knowledge. Research limitations implications The paper proposes a new line of research to understand decision-making in organizations, particularly those which focus on knowledge intensive products and services. Practical implications The paper proposes managerial approaches to improve organizational positioning relative to the efficient knowledge-risk frontier through greater awareness of contributors to knowledge gaps and risk in decision situations, as well as traditional strategic tools such as outsourcing. Originality/value The postulated link between risk and knowledge gaps establishes a knowledge-based view of firm risk and recognizes trade-offs for decisions regarding knowledge accumulation.

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Combining goods and service-dominant logics in purchasing strategies

Journal of Business and Industrial Marketing ◽

10.1108/jbim-09-2017-0220 ◽

2018 ◽

Vol 33 (8) ◽

pp. 1087-1099

Author(s):

Tale Skjølsvik

Keyword(s):

Future Research ◽

Management Consulting ◽

Content Type ◽

Industrial Marketing ◽

Knowledge Based ◽

Consulting Services ◽

Alternative Approaches ◽

Knowledge Intensive ◽

Relational Strategies ◽

Practical Implications

Purpose While goods- and service-dominant logics are separated in most research as alternative and often incompatible paradigms, this paper aims to show how these logics can be and are combined in purchasing strategies in organizations. The paper also illustrates that multiple logics exist in addition to purely goods- or service-based logics. Design/methodology/approach The paper is based on empirical data on the purchasing of management consulting services, which represent an extreme context for understanding the combination and intersection of goods- and service-dominant logics. In particular, four in-depth case studies and interviews with 51 sellers and 30 buyers of management consulting services are used to develop a typology of purchasing approaches that combines goods- and service-dominant logics. Findings The study shows that goods- and service-dominant logics are combined in two main purchasing phases: supplier set selection and assignment selection. In both these phases, parallel and knowledge-based, embedded and experience-based approaches were identified as ways of combining goods- and service-dominant logics in the purchasing context. Research limitations/implications The research presented in the following adds to our existing understanding of possible purchasing strategies under multiple logics in buying organizations. Future research should explore the conditions under which different strategies are and should be applied in organizations. Practical implications This paper gives practitioners alternative approaches to choose from in their purchasing and sales of knowledge-intensive services, in addition to transactional and relational strategies. Originality/value The research adds to existing research on business and industrial marketing by identifying particular purchasing strategies on a continuum between goods- and service-dominant logics.

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Characteristics of knowledge, people engaged in knowledge transfer and knowledge stickiness: evidence from Chinese R&D team

Journal of Knowledge Management ◽

10.1108/jkm-02-2017-0054 ◽

2017 ◽

Vol 21 (6) ◽

pp. 1559-1579 ◽

Cited By ~ 5

Author(s):

Huang Huan ◽

Ma Yongyuan ◽

Zhang Sheng ◽

Dou Qinchao

Keyword(s):

Knowledge Transfer ◽

Transfer Process ◽

Research Model ◽

Content Type ◽

Face To Face ◽

Knowledge Based ◽

The People ◽

Efficiency And Effectiveness ◽

Knowledge Intensive ◽

Practical Implications

Purpose The aim of this study is to provide some important insights for knowledge stickiness from the perspective of the characteristic of knowledge and the people engaged in the knowledge transfer. It proposes an empirical model about factors that influence knowledge stickiness. Design/methodology/approach Based on knowledge-based view (KBV), this paper systematically elaborated the research model, and then conducted a survey to test the hypotheses. Data were collected by face-to-face interviews in R&D team of knowledge-intensive firms in China. The empirical results generally support the proposed hypotheses. Findings The paper provides empirical insights about how the knowledge transfer willingness, transfer ability, knowledge residence, knowledge articulability and absorption ability affect the knowledge stickiness in the process of knowledge transfer in R&D team. Research limitations/implications This paper provides guidelines about how firms should optimally respond to knowledge stickiness in knowledge transfer process practically. Practical implications The proposed framework helps to understand what factors impact knowledge stickiness in R&D teams. Furthermore, the research also provides guidelines about how firms should optimally respond to knowledge stickiness in knowledge transfer process practically from both aspects of characteristics of knowledge itself and people involved in knowledge transfer. Originality/value This study, grounded on KBV, constructs a countermeasure model of weakening knowledge stickiness, which contributes to an understanding of factors leading to the success or failure of knowledge transfer. It eventually theoretically extends the KBV of the firm and commits to improve the efficiency and effectiveness of knowledge transfer practically.

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Bettering the business process

Strategic Direction ◽

10.1108/sd-05-2017-0080 ◽

2017 ◽

Vol 33 (8) ◽

pp. 33-35

Keyword(s):

Organizational Performance ◽

Business Process ◽

Portfolio Management ◽

Process Management ◽

Business Processes ◽

Content Type ◽

Trade Offs ◽

Pertinent Information ◽

The Relationship ◽

Practical Implications

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings There is a need to better understand the intersection of business process improvement and business process management (BPM) and how research in this area could help organizational efficiency. Organizations looking to improve business processes typically look at singular issues, often without considering the interconnectedness of various projects. Lehnert et al. (2017) have identified this intersection, termed by them as process project portfolio management, as a rich vein of research potential. There is the potential to understand how to improve business processes without ignoring the relationship individual projects have with each other. By mitigating the potential trade-offs inherent in any process of improvement, this new approach could benefit organizational performance in a significant way. Practical implications The paper provides strategic insights and practical thinking that have influenced some of the world’s leading organizations. Originality/value The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

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Value co-creation in the B2B context: a diagnosis of knowledge management based on multiple case studies

Journal of Business and Industrial Marketing ◽

10.1108/jbim-11-2020-0528 ◽

2021 ◽

Vol ahead-of-print (ahead-of-print) ◽

Author(s):

Andrei Bonamigo ◽

Camila Guimarães Frech ◽

Ana Carolina Custódio Lopes

Keyword(s):

Empirical Studies ◽

Structured Interviews ◽

Content Type ◽

Knowledge Based ◽

Multiple Case ◽

Multiple Case Studies ◽

Knowledge Asymmetry ◽

Business To Business ◽

Practical Implications

Purpose This study aims to empirically investigate how organizations delivering services in business-to-business relations deal with the boundary paradox and knowledge asymmetry in value co-creation. Design/methodology/approach This study adopted a qualitative multiple case study strategy. Datas were gathered through 13 semi-structured interviews that were then analyzed through the content analysis. Findings The authors identified three mechanisms that organizations use to deal with the boundary paradox and two strategies to handle the knowledge asymmetry. Research limitations/implications First, no opportunities were afforded to involve more participants. Second, owning to confidentiality reasons, not all organizations provided us documents to be analyzed. Practical implications The findings guide managers in balancing the use of contracts and trust in inter-firm collaborations and fostering the learning of customers. Also, insights to protect knowledge based on the paradox of openness in value co-creation. Originality/value This study’s findings address the gap in value co-creation literature concerning the lack of empirical studies.

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Best of both worlds

Strategic Direction ◽

10.1108/sd-12-2020-0218 ◽

2021 ◽

Vol 37 (3) ◽

pp. 21-23

Keyword(s):

Design Methodology ◽

Reading Time ◽

Negative Impact ◽

New Product ◽

Innovation Strategy ◽

Content Type ◽

Strategic Approach ◽

Pertinent Information ◽

Product Launches ◽

Practical Implications

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Efforts to globalize a national food

International Journal of Contemporary Hospitality Management ◽

10.1108/ijchm-03-2015-0151 ◽

2016 ◽

Vol 28 (10) ◽

pp. 2310-2330 ◽

Cited By ~ 15

Author(s):

Seongseop (Sam) Kim ◽

Ja Young Choe ◽

Aejoo Lee

Keyword(s):

Success Factors ◽

Food Services ◽

Korean Culture ◽

Content Type ◽

Strategic Approach ◽

The Usa ◽

Korean Food ◽

Cluster 2 ◽

Practical Implications ◽

Insight Into

Purpose This paper aims to gain insight into the preferences of US customers regarding Korean food, and to categorize these customers according to the reasons for their preferences. Design/methodology/approach The study was conducted with a sample of customers in Korean restaurants in the USA. Findings Cluster 1 was a group whose members were attracted to Korean culture; Cluster 2 was a group whose members were passionate about Korean food; Cluster 3 was a group seeking healthy and exotic food; and Cluster 4 was a low-interest group. Each cluster had a different socio-demographic profile, favored a different Korean menu, identified different success factors for Korean restaurants, described different expectations and experiences of Korean restaurants and had different preferences regarding Korean food services. Practical implications Active promotion of Korean food and Korean culture may be appropriate for Cluster 1, while developing a healthy and exotic menu may attract Cluster 3. Maintaining Cluster 2 is deemed important, while a strategic approach is necessary to appeal to Cluster 4. Originality/value This study will contribute theoretically and practically to understanding food globalization, ethnic restaurants and segmentation by preference reasons.

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A new framework for time-cost trade-off considering float loss impact

Journal of Financial Management of Property and Construction ◽

10.1108/jfmpc-02-2016-0007 ◽

2017 ◽

Vol 22 (1) ◽

pp. 20-36 ◽

Cited By ~ 2

Author(s):

Sameh Monir El-Sayegh ◽

Rana Al-Haj

Keyword(s):

Optimization Technique ◽

Time Cost ◽

Trade Off ◽

Deterministic Optimization ◽

Content Type ◽

Project Duration ◽

Trade Offs ◽

Project Objectives ◽

The Impact ◽

New Framework

Purpose The purpose of this paper is to propose a new framework for time–cost trade-off. The new framework provides the optimum time–cost value taking into account the float loss impact. Design/methodology/approach The stochastic framework uses Monte Carlo Simulation to calculate the effect of float loss on risk. This is later translated into an added cost to the trade-off problem. Five examples, from literature, are solved using the proposed framework to test the applicability of the developed framework. Findings The results confirmed the research hypothesis that the new optimum solution will be at a higher duration and cost but at a lower risk compared to traditional methods. The probabilities of finishing the project on time using the developed framework in all five cases were better than those using the classical deterministic optimization technique. Originality/value The objective of time–cost trade-off is to determine the optimum project duration corresponding to the minimum total cost. Time–cost trade-off techniques result in reducing the available float for noncritical activities and thus increasing the schedule risks. Existing deterministic optimization technique does not consider the impact of the float loss within the noncritical activities when the project duration is being crashed. The new framework allows project managers to exercise new trade-offs between time, cost and risk which will ultimately improve the chances of achieving project objectives.

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Senior consumers and risk/benefit trade-off in functional foods

British Food Journal ◽

10.1108/bfj-06-2016-0267 ◽

2017 ◽

Vol 119 (6) ◽

pp. 1232-1246 ◽

Cited By ~ 1

Author(s):

Aina Ravoniarison

Keyword(s):

Perceived Risk ◽

Functional Foods ◽

Perceived Value ◽

Repurchase Intention ◽

Significant Discrepancy ◽

Trade Off ◽

Content Type ◽

Personal Variables ◽

Practical Implications ◽

Insight Into

Purpose The purpose of this paper is to examine how French senior consumers deal with duality between perceived risk and perceived value associated with functional foods (FFs) and to analyze whether the risk-value trade-off may help to derive different consumer profiles. Design/methodology/approach Data were collected from 220 senior consumers (50-70). A two-step clustering analysis was carried out on factor scores of perceived value and perceived risk. Discriminant analysis was then employed to verify the classification reliability, and analysis of variance was performed to profile the clusters on the basis of additional variables. Findings Four distinctive profiles of FF senior consumers were identified. Significant differences were found to be attributed to personality traits. Interestingly, the “Trustful enthusiasts” and the “Ambivalents” consumers do not differ in their repurchase intention, despite a significant discrepancy in risk perception. Practical implications The study is an opportunity to offer a segmentation of this attractive growing target of health-enhancing products. The typology can help the practitioners to find out a new valuable scope of messages to better communicate to elderly market. Originality/value The research seeks to contribute to the existing knowledge on seniors’ nutrition-related behavior, by proposing a segmentation still lacking in research works. Since FF perceived value appears to be multidimensional and not only utilitarian, the study provides a new insight into the experiential approach of health-enhancing eating. Also, it shows how the differences between FF consumers could be attributed to certain personal variables.

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Improving performance through leaders' forgiveness: the mediating role of radical innovation

Personnel Review ◽

10.1108/pr-12-2017-0396 ◽

2021 ◽

Vol ahead-of-print (ahead-of-print) ◽

Author(s):

Emilio Domínguez-Escrig ◽

Francisco Fermín Mallén Broch ◽

Ricardo Chiva Gómez ◽

Rafael Lapiedra Alcamí

Keyword(s):

Organizational Performance ◽

Explanatory Variable ◽

Radical Innovation ◽

Structural Equations ◽

Content Type ◽

Mediating Role ◽

Firm Turnover ◽

The Relationship ◽

Practical Implications

PurposeThe objective of this study is to analyze the relationship between leaders' forgiveness and organizational performance using radical innovation as an explanatory variable.Design/methodology/approachThe study was conducted in a sample frame of 11,594 Spanish companies. A total of 600 valid questionnaires were obtained. The structural equations were used to validate the proposed hypotheses.FindingsResults confirmed the hypotheses proposed in the model: the authors provided, through structural equations, empirical evidence of the relationship between leaders' forgiveness and organizational performance, mediated by radical innovation. Leaders' forgiveness promotes radical innovation and, in turn, performance.Research limitations/implicationsThe sample of companies is heterogeneous in terms of firm turnover, size and age. The study is focused on radical innovation.Practical implicationsThe present study may help to develop more humane policies to manage human resources, by taking into account employees' feelings and needs.Originality/valueThe business field is closer to competitive values and has traditionally underestimated the importance of leaders' forgiveness. This is one of the few studies that empirically analyze the consequences of leaders' forgiveness within organizations.

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Integration of TQM and ERP to enhance organizational performance and excellence: empirical evidence from public sector using SEM

World Journal of Entrepreneurship Management and Sustainable Development ◽

10.1108/wjemsd-12-2020-0170 ◽

2021 ◽

Vol ahead-of-print (ahead-of-print) ◽

Author(s):

Hassan Al-Dhaafri ◽

Mohammed Alosani

Keyword(s):

Organizational Performance ◽

Enterprise Resource Planning ◽

Structural Equation ◽

Resource Planning ◽

Joint Effect ◽

Total Quality ◽

Content Type ◽

Organizational Excellence ◽

Practical Implications

PurposeThe study aims to examine the joint effect of total quality management (TQM), enterprise resource planning (ERP) and organizational performance on organizational excellence.Design/methodology/approachTo achieve the goal of this study through the hypothesized model, a survey questionnaire research design was employed. The data were collected from a Dubai Police organization. Out of 550 questionnaires, 320 questionnaires were returned. The structural equation modelling (SEM) partial least squares approach was used to analyze the data for measurement and structural models.FindingsThe statistical results confirmed the positive and significant effects of TQM, ERP and organizational performance on organizational excellence. The mediation role of organizational performance between TQM, ERP and organizational excellence also was confirmed.Practical implicationsThroughout this study, further details and valuable implications have been discussed. Findings provide several practical implications. Findings also help practitioners and managers make proper decisions when implementing TQM, ERP and excellence practices in their organizations. With the joint effect of TQM, ERP and organizational performance, organizations can achieve maximum strong excellence and remain in a competitive market. This current study presents potential to be used in didactical initiatives.Originality/valueThis study is a unique empirical research that examines the joint effect of TQM, ERP and performance on excellence relationships. In other words, the current study is one of the few studies that investigate the mediating role of organizational performance beside the organizational excellence as the ultimate variable in developing country, specifically in UAE.

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