Hong Y. Park, C. Surender Reddy and Iksu Jurn
Developing the right sourcing strategy in managing the firm’s supplies is critical for today’s managers. They realize the long‐term impact of their sourcing strategies (make or…
Abstract
Developing the right sourcing strategy in managing the firm’s supplies is critical for today’s managers. They realize the long‐term impact of their sourcing strategies (make or buy, supply‐base structure, and nature of customer‐supplier relationship) on the profits and the efficient functioning of the organization. The study examines and evaluates changes in these strategic choices. The study revealed the following: small and lower labor productivity firms rate their internal suppliers better than external suppliers; obtaining supplies nationwide from a limited number of suppliers is the prevalent supply‐base structure; and customer‐supplier relationship is deepening.
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Hong Y. Park, Kaustav Misra, Surender Reddy and Kylie Jaber
Entrepreneurial innovation has been the most important source for improvement in firm performance. Innovation in family firms has become the focal issue in firm strategy. In…
Abstract
Purpose
Entrepreneurial innovation has been the most important source for improvement in firm performance. Innovation in family firms has become the focal issue in firm strategy. In today’s high-velocity environment, the dynamic organizational adaptation is essential for sustainable competitive advantage. The purpose of this paper is to investigate the nature of changes in external environment and the relationship between changes in the economic environment and family firms’ innovation in response to the environmental shift.
Design/methodology/approach
The authors designed a survey questionnaire to obtain primary data for the study. The survey consists of family firm structure, innovation drivers, governance, core competence and performance. Authors applied a random stratified sample method in selecting samples to reflect the population in family firms.
Findings
The study identified market conditions, technology and regulation as innovation drivers. The authors found that these innovation drivers have positive effects on family firm performance, although the technology variable is the only statistically significant variable at the conventional statistical significance level.
Research limitations/implications
The authors expected to have better response rate, and wish to have more observations. The authors would have stronger results if you could get more data.
Practical implications
Family firms need to respond to the high velocity of environment and to develop capabilities that understand the nature of changes in economic environment and take effective steps. The study findings offer guidelines for the managers of how to manage the firms in the dynamic environment.
Social implications
Family firms should use this results to develop strategies to deal with various economics situations.
Originality/value
The study identifies innovation drivers in family firms. The study contributes to finding and empirical testing of family firm innovation drivers. Findings of the study are valuable for managing the high velocity of today’s economic environment: changes in markets, technologies and regulations.
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Paul C. Hong, Kainan Wang, Xu Zhang and Youngwon Park
Over the decade the trend of Global Fortune 500 firms has shown significant changes – Japanese and Chinese firms in particular. The purpose of this paper is to present trend…
Abstract
Purpose
Over the decade the trend of Global Fortune 500 firms has shown significant changes – Japanese and Chinese firms in particular. The purpose of this paper is to present trend analysis of Global Fortune 500 – Japanese and Chinese firms. Key research questions are: what are the relevant macro-level changes that have affected the growth and decline of Japanese and Chinese firms? What are the industry-level changes that have occurred in Japanese and Chinese firms in terms of firm characteristics and financial performances? What are the lessons and implications from the firms added to or removed from Global Fortune 500? Data analysis is conducted based on Fortune database from 1995 to 2013.
Design/methodology/approach
The study employs descriptive analysis to examine the trend of Japanese and Chinese firms listed in Global Fortune 500 including: based on revenue and profit figures from 1995 to 2013; the authors perform trend analysis for each of those five types from 1995 to 2013; the authors replicate the analyses for different industry types in terms of the above five types; the authors compare the performances of Japanese and Chinese firms; based on 2011-2013 data, the authors conduct more in-depth analysis for selected firms.
Findings
The findings suggest five distinct types of firms including “Sustainables,” “New Comers,” “Move Ups,” “Decliners,” and “Drop Outs”; it is interesting to note that the changes in Global Fortune 500 firms suggest how these two countries show their relative competitive advantage. Chinese firms show steady flows of new firms that join in the rank of Global Fortune 500 whereas Japanese firms suggest continuous drop of firms that move out of Global Fortune 500 firms. As China increases its size of economy, state-owned financial institutions, resource-focus firms (e.g. mining and petroleum) firms also rapidly increased its overall size. Although the number is still small, privately owned Chinese global firms (e.g. Lenovo, Huawei, Zhejiang Geely Holding Group, Ping An Insurance) also are now listed as Global Fortune 500 firms. In contrast, Japanese firms that lost their global market positions steadily disappeared from Global Fortune 500 firms. Representative firms include Daiei, Mitsubishi Motor Company, and NEC.
Research limitations/implications
One limitation of the analysis on financial indicators is that the authors select only a few firms and focus only on two time points. Nevertheless, it provides the authors information about the financial factors that characterize the two types of Global Fortune 500 firms. Moreover, it opens up new opportunities for future research.
Practical implications
Factors that influence the behaviors of Global Fortune 500 firms suggest both external environmental and internal managerial factors. Although serious external factors (e.g. Global Financial Crisis) affect the outcomes of these competitive positioning, it is still the managerial leadership that makes differences in cases of many Japanese firms. To Japanese firms maintaining domestic advantage is not enough to sustain their position in Global Fortune 500. Global competitiveness matters. On the other hand, it is unclear whether changes occurring in Chinese firms are more managerial than externally dictated. In case of many Chinese financial firms and resource rich firms, the huge domestic advantage has much to do with their position in Global Fortune 500.
Originality/value
This is the first trend analysis that examines the Global Fortune 500 firms from Japan and China. The authors identify five types of firms that would be an important basis for the further benchmarking studies of Global Fortune 500 firms in other counties (e.g. the USA, Germany, Korea, and other Emerging Economies – Russia, India, Brazil).
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Yi Wang and Jorma Larimo
In this study, we analyze the general effect of acquirers’ ownership strategy on the survival in foreign acquisitions. Furthermore, we attempt to address five potential moderating…
Abstract
In this study, we analyze the general effect of acquirers’ ownership strategy on the survival in foreign acquisitions. Furthermore, we attempt to address five potential moderating effects: international, regional, target country experience, cultural distance, as well as host country development. The developed hypotheses are tested on a sample of 1,345 acquisitions made by 174 Finnish firms in 59 countries during 1980–2005. The results indicate that in general WOS increases the probability of survival of foreign acquired units. We further find that the impact of WOS on the survival of foreign acquired units is contingent upon cultural distance and host country development but not on the experience of buying firms.
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Paul Hong, Na Young Ahn and Euisung Jung
This paper aims to discuss characteristics of Korea’s system responses with a research framework of the structure, conduct and performance theory and explain the role of…
Abstract
Purpose
This paper aims to discuss characteristics of Korea’s system responses with a research framework of the structure, conduct and performance theory and explain the role of information, communication technologies (ICT) and Big Data from a technology-mediated control (TMC) perspective.
Design/methodology/approach
This study examines the contextual nature of Korea’s diagnostic, preventive and treatment efforts. Particular attention is paid to issues related to the effective use of Big Data analytics and its applications, reporting mechanisms and public safety measures. The research model defines key factors in assessing the effectiveness of Korea’s responses.
Findings
Findings of this research suggest: effective strategic planning and operational execution use well-tested and designed crisis-responsive manuals; linkage role of ICT/Big Data is prominent in trace, test and treat and participation (3T + P); and aggressive epidemic investigations require synergistic efforts of national and local government units, broad societal support and participation and contribution of global firms offering their domestic and global supply chain network capabilities.
Research limitations/implications
The Korean Government's effective response experiences suggest the synergy of political, social, cultural and technological factors. Future studies may explore how personal privacy and public safety are both achieved in different social–cultural–political contexts (Ahn et al., 2020; Delgado et al., 2020; Sharma and Bashir, 2020). Other emerging organizational issues and international comparative studies are worth further investigation in future studies.
Practical implications
This case study suggests how to apply ICT capabilities for organizing a national response to the coronavirus pandemic (COVID-19) pandemic. Public and private partnership in the framework of sociotechnological synergy (i.e. integration of ICT and social orchestration) is essential for the 3T process. In support of public policy initiatives, global firms share their IT infrastructure and supply chain integration experiences to accommodate global-level crises like the COVID-19 pandemic.
Social implications
This study extends the TMC framework to a national level. In the adapted TMC framework, the control source, control target and linkage mechanism are specified. Using TMC, this shows the dynamic roles of ICT/Big Data in Korea’s COVID-19 response experiences.
Originality/value
The impacts of the COVID-19 are rapid and enormous. Despite the controversial early policy decisions and the rapid rise of confirmed patients, the world has recognized Korea’s effective responses to the COVID-19 pandemic.
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Hongbo Zhu, Minzhou Luo and Jingzhao Li
The purpose of this study is to present an optimization-based gait planning method for biped robots according to the conditions of terrain, which takes fully the relationship…
Abstract
Purpose
The purpose of this study is to present an optimization-based gait planning method for biped robots according to the conditions of terrain, which takes fully the relationship between walking stability margin and energy efficiency into account.
Design/methodology/approach
First, the authors newly designed a practical gait motion synthesis algorithm by using the optimal allowable zero moment point (ZMP) variation region (OAZR), which can generate different gait motions corresponding to different terrains based on the modifiability of ZMP in lateral (y-axis) direction. Second, an effective gait parameter optimization algorithm is performed to find the optimal set of key gait parameters (step length, duration time of gait cycle, average height of center of mass (CoM), amplitude of the vertical CoM motion and double support ratio), which maximizes either the walking stability margin or the energy efficiency with certain walking stability margin under practical constraints (mechanical constraints of all joint motors, geometric constraints, friction force limit and yawing moment limit) according to the conditions of terrain. Third, the necessary controllers for biped robots have been introduced briefly.
Findings
The experiment data and results are described and analyzed, showing that the proposed method was verified through simulations and implemented on a DRC-XT biped robot.
Originality/value
The main contribution is that the OAZR has been defined based on AZR, which could be used to plan and generate the various feasible gait motions to help a biped robot to adapt effectively to various terrains.
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Jiwon Chung, Hyunbin Won, Hannah Lee, Soah Park, Hyewon Ahn, Suhyun Pyeon, Jeong Eun Yoon and Sumin Koo
The objective of this study was to develop wearable suit platforms with various anchoring structure designs with the intention of improving wearability and enhancing user…
Abstract
Purpose
The objective of this study was to develop wearable suit platforms with various anchoring structure designs with the intention of improving wearability and enhancing user satisfaction.
Design/methodology/approach
This study selected fabrics and materials for the suit platform through material performance tests. Two anchoring structure designs, 11-type and X-type are compared with regular clothing under control conditions. To evaluate the comfort level of the wearable suit platform, a satisfaction survey and electroencephalogram (EEG) measurements are conducted to triangulate the findings.
Findings
The 11-type exhibited higher values in comfort indicators such as α, θ, α/High-β and lower values in concentration or stress indicators such as β, ϒ, sensorimotor rhythm (SMR)+Mid-β/θ, and a spectral edge frequency of 95% compared to the X-type while walking. The 11-type offers greater comfort and satisfaction compared to the X-type when lifting based on the EEG measurements and the participants survey.
Originality/value
It is recommended to implement the 11-type when designing wearable suit platforms. These findings offer essential data on wearability, which can guide the development of soft wearable robots.
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Paul C. Hong, Nitya P. Singh, N. Elangovan and Guydeuk Yeon
The business sector plays a major role in achieving comprehensive economic development goals in emerging economies. Consequently, the effects of business responses to the COVID-19…
Abstract
Purpose
The business sector plays a major role in achieving comprehensive economic development goals in emerging economies. Consequently, the effects of business responses to the COVID-19 pandemic are receiving increasing research attention from an organizational management development perspective. This article aims to examine the role of leadership in charting the course in an extraordinary crisis context.
Design/methodology/approach
Using institutional leadership theory, leadership contingency theory and dynamic leadership capability theory, the authors present a research framework that defines macrochallenges and organizational level responses and outcomes. The article adopts a case study approach, which includes the identification of four target companies and conducting in-depth interviews with senior management professionals within those companies at different time periods.
Findings
Based on the interviews, the steps that Indian companies adopted to respond to the COVID-19 challenge are identified. Expanding the insight from the case study, the findings suggest that although feeling overwhelmed at first, organizational leaders combine prudent (i.e. timely and speedy actions for survival first) and bold (i.e. future envisioning for expansion and growth) actions enabling these firms to weather two waves of the COVID-19 pandemic in India.
Originality/value
These multiple case studies are unique in exploring MNEs from different industries. This study also highlights the dynamic relationships between leadership practices, risk management strategies and performance outcomes based on a sound theoretical model and rigorous study methods.
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Kaylee J. Hackney and Pamela L. Perrewé
Research examining the experiences of women in the workplace has, to a large extent, neglected the unique stressors pregnant employees may experience. Stress during pregnancy has…
Abstract
Research examining the experiences of women in the workplace has, to a large extent, neglected the unique stressors pregnant employees may experience. Stress during pregnancy has been shown consistently to lead to detrimental consequences for the mother and her baby. Using job stress theories, we develop an expanded theoretical model of experienced stress during pregnancy and the potential detrimental health outcomes for the mother and her baby. Our theoretical model includes factors from multiple levels (i.e., individual, interpersonal, sociocultural, and community) and the role they play on the health and well-being of the pregnant employee and her baby. In order to gain a deeper understanding of job stress during pregnancy, we examine three pregnancy-specific organizational stressors (i.e., perceived pregnancy discrimination, pregnancy disclosure, and identity-role conflict) that are unique to pregnant employees. These stressors are argued to be over and above the normal job stressors experienced and they are proposed to result in elevated levels of experienced stress leading to detrimental health outcomes for the mother and baby. The role of resilience resources and learning in reducing some of the negative outcomes from job stressors is also explored.
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Takashi Shimizu, Young Won Park and Paul Hong
The purpose of this paper is to examine complex risk management practices of Japanese firms in a turbulent environment.
Abstract
Purpose
The purpose of this paper is to examine complex risk management practices of Japanese firms in a turbulent environment.
Design/methodology/approach
The focus of this research is to examine risk management practices based on product accidents in Japanese firms. It examines how firms utilize risk management to respond to various types of risks related to product planning and process designs and how the firms with risk management respond to similar incidents. This focused group research uses surveys and additional interviews.
Findings
The research findings suggest the following: the majority of firms define the scope of product risk management in terms of product quality management, project management, and project management+quality management; firms that have risk managers include the entire supply chain in the scope of risk management; and firms reexamine the systematic risk management processes through actual major accidents (direct learning) or other firms' risk outcomes (indirect learning).
Research limitations/implications
This article presents a research model that identifies and examines key aspects of risk management practices. This focused group research provides a useful basis for future empirical research on risk management practices.
Originality/value
This is a rare study on the risk management practices of Japanese firms. The risk management framework in this article introduces actual risk management practices of successful Japanese firms.