scholarly journals Enterprise Efficiency Sources in the Contemporary Business Environment

2018 ◽  
Vol 56 (3) ◽  
pp. 321-334
Author(s):  
Violeta Domanović ◽  
Vesna Janjić

Abstract The issue of improving the efficiency of business operations is of particular importance in the conditions of modern business environment. For managers, the big challenge is how to achieve and to maintain, not to mention how to improve efficiency in a highly heterogeneous, complex, uncertain and unpredictable business environment. Significant sources of enterprise efficiency in a modern business environment are enterprise restructuring, business activities, as well an integrated approach to cost management, which is becoming an increasingly important determinant of business success and a source of competitive advantage. The paper provides an overview of theoretical and empirical research of the effects of certain sources on the performance of the enterprise. The conclusion is that only the complementary exploitation of all sources contributes to improving the efficiency of the enterprise in the long run.

2011 ◽  
pp. 1750-1764
Author(s):  
Brane Semolic ◽  
Jure Kovac

Technological and organizational excellence is the key element for business success in a modern business environment. In contemporary business environments, companies will restore and keep their competition capability not only by optimizing their own potentials, but mainly by utilizing capability of foreign resources and their connection to complete business process in the so called network organizations. Virtual organizations are a special form of network organizations. Among virtual organizations the so called Living Laboratory takes place. This chapter presents the findings of the research regarding the state of development and application of laser living laboratory management and governance system in Toolmakers Cluster of Slovenia.


2018 ◽  
Vol 28 (5) ◽  
pp. 1545-1551
Author(s):  
Svetlana Trajković

The ability to manage knowledge becomes an increasingly important strategic activity in today's so-called. knowledge economy. To prioritize the preservation and improvement of intellectual capital, creating and disseminating knowledge within a modern organization, is becoming an increasingly decisive factor in achieving and maintaining its competitive advantage. The only viable advantage of a modern organization comes from what the company knows and how effectively is used what it knows and how quickly it acquires and uses new knowledge. There is a positive relationship between the intellectual capital and the performance of an organization. Intellectual capital is in correlation with the organization's future performance, and the growth rate of intellectual capital is in a positive relationship with the organization's performance, while the contribution of intellectual capital to improving the organization's performance varies, and is the result of strategic management of the organization itself. In this context, only the learning organization, which is constantly looking for new, innovated and / or enhanced knowledge in the field of activity, has the conditions, chances and opportunities to move forward in the real world. In the modern world, the world of a knowledge-based economy, a competitive advantage that is sustainable on the narrow paths, can only be achieved if the organization takes a lasting commitment to learn, invest in people and their intellectual potential, to support the need of people to continuously explore, learn and accept new, more complete and applicable knowledge. Regarding this, investing in the intellectual capital in the short term may be a significant cost to the organization, but in the long run, any investment in the development of intellectual capital - new knowledge - both scientific, general theoretical, and practically applicable will have a multiplier positive effect on the future business of the organization. The experience of organizations from the world of work has unambiguously confirmed this. Namely, companies that base their business on exactly human cognitive and scientific potentials have the advantage, that is, the world's leading companies are in terms of profit. First of all, these are companies in the field of low-tech technologies, and they are not quite necessary because they are notorious. But, from the experience of such organizations, they can and / or have to learn all the organizations they intend to succeed in a modern, very turbulent business environment. This is especially important for those organizations that intend to be leaders in an area or branch of business. Today, leadership is not realized solely on the basis of the number of pieces produced by a product or on the basis of the number of transactions with the environment, on the contrary, the leader is the organization of work that is imposed as an organization where the intellectual, and parallel with it, also the human capital prevails. Because, it is known, also in practice, that only when people feel in a certain organization friendly, only then do they give their maximum contribution. Only in conditions of complete freedom, some seemingly lucid ideas become "full of hits" in realizing and meeting the needs of the market and people who market it.


Author(s):  
Kijpokin Kasemsap

This article explains the overview of CRM; CRM and technological utilization; and the facilitation of CRM in modern business. CRM is a significant strategy to learn more about customers' needs and behaviors in order to develop the stronger relationships with them. CRM is the most efficient approach in maintaining and creating the relationships with customers in modern business. CRM helps business gain the insight into the behavior of their customers and modify their business operations to ensure that customers are served in the best possible way. CRM also helps business recognize the value of its customers and to capitalize on the improved customer relations. The article argues that facilitating CRM has the potential to enhance organizational performance and gain sustainable competitive advantage in modern business.


2019 ◽  
Vol 12 (1) ◽  
pp. 70
Author(s):  
Reem Oqab Hussein Al-Khasawneh

The study has aimed at identifying the developments the modern business environment, i.e e-business, witnessed; it also identify to which extent accounting information systems contribute to the achievement of competitive advantage of economic advantage through cost leadership strategy, which represents one of  strategies of achieving competitive advantage. This strategy is significant and links to accounting work in digital economy environment and shifting toward e-application in business environment.  The study has illustrated a set of fields which can be used in e-business environment in order to reduce the costs of economic units’ products in digital economy environment; industrial, marketing, administrative and finance cost may be reduced.  In addition, the study has explained a set of accounting methods contributing to the achievement of cost strategy’s goals and competitive advantage of economic unit. The most important methods are as follows: activity-based cost system (ABC), value chain (VC), product life cycle (PLC), just on time product cost system (JIT) and target cost (TC). Research study has found that working in e-business environment have various advantages which can contribute to the reduction of product costs. It has also concluded that IT environment required by e-business can be used, thereby shifting towards e-accounting. Accordingly, designing a central database containing the data of applying cost management strategies is a necessity; this database also provides positive relationships among all accounting methods, thereby achieving the general goal, i.e the achievement of competitive advantage of economic unit through the reduction of product costs; product prices can be reduced at the markets.


TEME ◽  
2017 ◽  
pp. 489
Author(s):  
Aleksandra Anđelković ◽  
Nada Barac ◽  
Marija Radosavljević

In the modern business environment risk management has become a key assistant to enterprise management. Considering that, supply chain management, as part of enterprise management, cannot ignore the risks and the need for implementation of an adequate risk management strategy. Supply chain, as well as inter-organizational network, is the source of competitive advantage. However, inadequate risk management within a supply chain can lead to interruptions of the chain and to the lack of results at the level of the whole supply chain, as well as at the level of individual partners. Upstream supply chain represents the part of supply chain from suppliers to producer. The objective of this paper is to analyse how and to what extent the structure and the number of partners in this part of the supply chain influence (increase or decrease) supply chain vulnerability. The authors analyse the factors which most commonly affect to upstream supply chain and threaten its functioning. By analysing the supply chains from different area, the authors suggest that the size of the supplier's base can be treated as the resistance factor, but also as a factor of vulnerability.


Author(s):  
Brane Semolic ◽  
Jure Kovac

Technological and organizational excellence is the key element for business success in a modern business environment. In contemporary business environments, companies will restore and keep their competition capability not only by optimizing their own potentials, but mainly by utilizing capability of foreign resources and their connection to complete business process in the so called network organizations. Virtual organizations are a special form of network organizations. Among virtual organizations the so called Living Laboratory takes place. This chapter presents the findings of the research regarding the state of development and application of laser living laboratory management and governance system in Toolmakers Cluster of Slovenia.


2010 ◽  
pp. 2283-2297
Author(s):  
Brane Semolic ◽  
Jure Kovac

Technological and organizational excellence is the key element for business success in a modern business environment. In contemporary business environments, companies will restore and keep their competition capability not only by optimizing their own potentials, but mainly by utilizing capability of foreign resources and their connection to complete business process in the so called network organizations. Virtual organizations are a special form of network organizations. Among virtual organizations the so called Living Laboratory takes place. This chapter presents the findings of the research regarding the state of development and application of laser living laboratory management and governance system in Toolmakers Cluster of Slovenia.


Author(s):  
Nichola Lowe ◽  
Greg Schrock ◽  
Ranita Jain ◽  
Maureen Conway

US manufacturing is struggling with both a productivity and job quality challenge. These challenges are interconnected, reinforcing the need for increased coordination of economic and workforce development efforts. This article outlines the evaluation findings of a novel business-facing initiative called the Genesis Movement, to understand its role in reshaping the workforce experience within small- and medium-sized manufacturing businesses in Chicago, Illinois. Spearheaded in 2014 by the Illinois Manufacturing Excellence Center (IMEC), Genesis starts with the premise that workforce practices are central to business operations, productivity, and competitiveness—and therefore, manufacturing extension services need to promote improvements to job quality in support of long-term business success. This integrated approach represents a form of “inclusive innovation,” expanding the capacities of firms and workers to adapt in a competitive environment where pressures to maintain high quality while reducing costs are ever-present. Firms that participate in Genesis learn to adopt an inclusive organizational culture, using front-line worker engagement, skills training, and job quality improvements to drive performance and process innovation. As such, Genesis offers transferable lessons that could be leveraged by other manufacturing-supporting organizations to benefit their industry clients and the workers they employ.


2019 ◽  
Vol 54 (6) ◽  
Author(s):  
Marwa Fadhil Khalaf

Today, companies are seeking to achieve competitive positions in the business environment for earned customers satisfaction and increase their marketing share by providing distinct products at a lower cost and at the same time ensuring high quality. This study aims to clarify the contribution integrating between throughput accounting and activity based costing in reducing the production costs and achieving a competitive advantage in a state company for vegetable oils industry. The most significant findings show that by applying the throughput accounting integrated with activity based cost it is possible to reduce the life-cycle of products cost with more expansion. The fact that throughput accounting is a tool to manage costs in the short run, while activity based costing is a system of managing costs in the long run. Therefore integrating these two strategies ensures inclusiveness, as well as allows avoiding a waste of resources and removing the activity that does not add value to the product. This will result in reducing the production cost and achieving the competitive advantage. The paper also puts forward the importance of arranging training courses to keep up with the latest scientific development, including the role and importance of each of the strategies, their application mechanisms and benefits, advantages, and differences between them and the traditional system in allocated indirect costs.


2015 ◽  
Vol 6 (4) ◽  
pp. 70-86 ◽  
Author(s):  
Nurul Aida Abdul Malek ◽  
Khuram Shahzad ◽  
Josu Takala ◽  
Stefan Bojnec ◽  
Drago Papler ◽  
...  

Abstract In today’s dynamic business environment, a key challenge for all companies is to make adaptive adjustments to their manufacturing strategy. This study demonstrates the competitive priorities of manufacturing strategy in hydro-power case company to evaluate the level of sustainable competitive advantage and also to further analyze how business strategies are aligned with manufacturing strategies. This research is based on new holistic analytical evaluation of manufacturing strategy index, sense and respond, and sustainable competitive advantage models. These models help to describe, evaluate, and optimize resource allocation to meet the performance requirements in dynamic decision making. Furthermore, these models evaluate operational competitiveness for manufacturing strategies according to the multi-criteria priority. The results show that the adjustments of competitive priorities in manufacturing strategies by implementing the proposed holistic analytical models are helpful in strategically managing business operations. The discussion derives the most critical attributes in business operations while alignment of resource allocation with competitive priorities help to strategically focus those attributes. In conclusion, we argue that resource allocation and manufacturing strategies have become the most important capabilities in a business environment where companies focus to get a sustainable competitive advantage.


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