Jeong Hoon Choi, Sangdo Choi and Nallan C. Suresh
The objective of this study is to explore the structural attributes of the pharmaceutical industry before the onset of the COVID-19 pandemic by examining the relationship between…
Abstract
Purpose
The objective of this study is to explore the structural attributes of the pharmaceutical industry before the onset of the COVID-19 pandemic by examining the relationship between inventory and firm performance and developing a taxonomy of pharmaceutical firms based on the earns-turns matrix.
Design/methodology/approach
This study examines the inventory–firm performance linkage, considering both total inventory and its discrete inventory components in pharmaceutical firms. In addition, this research develops a new taxonomy of pharmaceutical firms based on the earns-turns matrix. A large panel dataset of firms in the US pharmaceutical industry was collected for the period 2000–2019.
Findings
The results reveal that strategic groups identified based on this taxonomy show different levels of profitability and inventory turns in the earns-turns matrix. Most pharmaceutical firms moved from the low-right to the top-left section in the earns-turns matrix, indicating that these firms have generally pursued profitability rather than effective inventory management.
Research limitations/implications
This study explores the structural attributes of the pharmaceutical industry using the earns-turns matrix. This two-dimensional analysis may not, however, capture the full complexity of inventory–firm performance dynamics.
Practical implications
The mapping of strategic groups on the earns-turns matrix provides a useful tool for visual representations of the dynamics of strategic groups in terms of financial performance and inventory management performance. Practitioners can use the earns-turns matrix to benchmark their firm's position against their competitors.
Originality/value
This study broadens the scope of operations management research by introducing the earns-turns matrix as an empirical validation tool for operational and strategic management theories. This study emphasizes the effectiveness of the earns-turns matrix in analyzing strategic groups of pharmaceutical firms.
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Asoke Dey, B.S. Vijayaraman and Jeong Hoon Choi
Radio-frequency identification (RFID) systems are transforming hospital operations by improving care and reducing costs. However, hospital managers have some concerns about…
Abstract
Purpose
Radio-frequency identification (RFID) systems are transforming hospital operations by improving care and reducing costs. However, hospital managers have some concerns about adopting RFID technologies. These are cost, return on investment, privacy and other technology issues. This study examines RFID adoption in health-care industry based on the Technology-Organization-Environment framework. This paper aims to demonstrate how US hospitals are adopting RFID technologies and make recommendations, using empirical data.
Design/methodology/approach
An online survey was sent to Chief Information Officers and the top information technology (IT) executives of US acute care hospitals to determine the extent to which hospitals have implemented RFID technologies including the reasons, concerns and applications of RFID technologies, and the antecedents of RFID adoption in hospitals.
Findings
The study found that a high percentage of respondents have adopted or are considering adopting RFID technology as a new management tool. Organizational and technological factors have strong positive influence on adoption, whereas environmental factors do not significantly affect the adoption decisions. The main reasons for implementing RFID technology are improved hospital operations, including inventory management, asset control, workflow and patient flow. Some of the concerns are cost of RFID tags and cost associated with implementation.
Research limitations/implications
This study is limited to a small sample (n = 86) of US hospitals. This study should continue to be replicated in the future, as adoption of RFID technologies matures in the health-care sector.
Originality/value
This study informs health-care managers on the challenges and opportunities of RFID by identifying motivations, barriers and issues related to RFID adoption. The findings of this study will expand the emerging literature and provide direction to academicians for further research in technology adoption.
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Sima Fortsch, Elena Khapalova, Robert Carden and Jeong Hoon Choi
The objective of this study is to mitigate the risks of a blood shortage. The authors designed two simulation studies to identify the superior methodology that can decrease the…
Abstract
Purpose
The objective of this study is to mitigate the risks of a blood shortage. The authors designed two simulation studies to identify the superior methodology that can decrease the impact of a massive national donor shortage.
Design/methodology/approach
The simulation designs are triggered by the COVID-19 pandemic. The first simulation examines the company’s choice of strategic partners (regionally and nationally), and the second inspects creating a national coordinated effort to organize a pooled blood inventory that would require blood centers to contribute a small percentage of their monthly donations to become a member.
Findings
The results indicate that both methods can significantly manage the risk of stockouts regardless of the availability of safety inventory in a blood center; however, although more effective in reducing the number of shortages per month, creating a national blood pool causes the shortages to be recognized earlier than desired.
Originality/value
The authors contribute to the literature by focusing on the potential risk of blood shortage because it directly impacts healthcare, hospitals’ costs and their ability to provide care. Though a handful of researchers have targeted the study of the blood supply chain, there is not any article that is similar to this study.
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J. Lucy Lee, Si Hoon Choi, Suzy Jeong and Namho Ko
The purpose of the study was to investigate the effects of artificial intelligence (A.I.) awareness, advertisement models and source-message incongruence on consumer evaluations…
Abstract
Purpose
The purpose of the study was to investigate the effects of artificial intelligence (A.I.) awareness, advertisement models and source-message incongruence on consumer evaluations of A.I.-generated advertisements. It explores how these factors interact in shaping consumer perceptions and advertising effectiveness.
Design/methodology/approach
A 2 (source-message (in)congruence: incongruent vs. congruent) x 3 (A.I. awareness: unawareness, pre-advertisement, post-advertisement) x 3 (advertisement model: traditional human, virtual human, digital twin) between-subjects design was employed in this study. Using stratified random sampling, a total of 231 undergraduate students were recruited from course groups and randomly assigned to one of nine experimental treatments, each involving the viewing of a specific A.I.-generated advertisement followed by a survey. Data were analyzed using two-way ANCOVA and regression analyses, controlling for participants' involvement in sports and brand.
Findings
The results indicated that A.I. awareness timing, advertisement model types and source-message incongruence significantly affected consumer evaluations of advertisements. A.I. awareness generally had a positive impact on evaluations, with the most favorable outcomes when awareness of the A.I.-generated nature occurred after viewing the advertisement. Virtual human models were rated the lowest, while digital twin and traditional human models received similarly positive evaluations. Source-message incongruence negatively influenced evaluations. An interaction effect was observed between A.I. awareness timing and advertisement model types under high source-message incongruence, where virtual human models showed the highest effectiveness when A.I. awareness occurred after viewing.
Originality/value
Given that sports are characterized by the transcendence of human limitations and the emphasis on physical and emotional challenges – elements that A.I. cannot replicate – it is essential to examine how sports consumers perceive A.I., which, despite offering efficiency and personalization advantages, contrasts with the fundamentally human nature of athletic performance. This research contributes to the literature on A.I.-generated advertising by uniquely investigating the interaction between A.I. awareness timing and advertisement model types within the context of source-message incongruence. It offers critical insights for practitioners and researchers on strategically timing A.I.-generated ad disclosures and selecting appropriate advertisement models to optimize their effectiveness. By addressing these underexplored variables, the study enhances understanding of consumer perceptions and provides a foundation for more effective A.I. integration in advertising practices.
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Young Yoon Choi, Hun-Koo Ha and Minions Park
The maritime freight transportation industry has played an important role in the Korean economy. The Korean maritime freight transportation industry is faced with a period of…
Abstract
The maritime freight transportation industry has played an important role in the Korean economy. The Korean maritime freight transportation industry is faced with a period of transforming it competitively and efficiently in this global age. This paper, therefore, aims to identify the impact of the maritime freight transportation industry in the Korean national economy. Hence, this paper provides policy-makers with accessible and reliable information regarding the role of the Korean maritime freight transportation industry. This study employs input-output (I-O) analysis to examine the role of the maritime freight transportation industry in the national economy for the period 1995-2003, with specific application to Korea. This study pays particular attention to the maritime freight transportation industry by taking the industry as exogenous variable and then investigates its economic impacts. We identify inter-industry linkage effects in 20 sectors, production-inducing effects, added value-inducing effects, and supply-shortage effects of the maritime freight transportation industry.
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Yohan Koo, Soo Jung Kim and Ji Hoon Song
The purpose of this study was to explore the moderating role of communication in the relationship between person-organization fit (P-O fit) of openness to change, learning…
Abstract
Purpose
The purpose of this study was to explore the moderating role of communication in the relationship between person-organization fit (P-O fit) of openness to change, learning organization and knowledge sharing.
Design/methodology/approach
A total of 1,015 faculty and staff participants from three private universities in South Korea was included in the analysis. Individual and organizational aspects of openness to change were examined based on the P-O fit theory. Moderated polynomial regression and response surface methodology were used for data analysis.
Findings
At a higher level of communication, the congruence of openness to change between the individual and organization showed a positive fit effect on learning organization. The incongruence of openness to change between individual and organization, in which the organizations’ openness to change was higher than that of individuals, decreased the level of knowledge sharing when the level of communication was higher.
Originality/value
The results of this study support the theory and practice that consideration of P-O fit on openness to change and a strategic approach of communication are needed to succeed in organizational change.
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Jaehong Joo, Hee Sun Kim, Sae Gyoung Song, Yun Jeong Ro and Ji Hoon Song
The purpose of this study is to emphasize the important role of performance-oriented human resource (HR) practices and gender equality perceptions in supervisors and chief…
Abstract
Purpose
The purpose of this study is to emphasize the important role of performance-oriented human resource (HR) practices and gender equality perceptions in supervisors and chief executive officers (CEOs) for career development among women in management.
Design/methodology/approach
This study used a quantitative methodology to examine relationships among variables. The authors conducted a survey to investigate factors influencing the career development of women managers in professional settings, with a sample of 1,502 female managers in South Korea.
Findings
The relationship between performance-oriented HR practices and career development for women managers was supported. In addition, self-leadership significantly mediated the relationship between performance-oriented HR practices and career development. Finally, double moderator effects of gender equality perceptions of CEOs and supervisors on the relationship between performance-oriented HR practices and self-leadership were significant.
Originality/value
This study emphasizes that career development for women in South Korea depends on gender equality awareness and institutional reorganization for best practices at top management levels. Specifically, this study identified the essential role of performance-based HR practices to support self-leadership and career development in women managers. Furthermore, this study recognized gender equality perceptions of CEOs and supervisors as a critical factor in the successful career development of women managers.
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Honglei Liu, Chang Suk Choi and Kyung Hoon Kim
This study discusses the sources of value co-creation and its effects on businesses using social platforms such as Facebook, Instagram, Twitter and blogs.
Abstract
Purpose
This study discusses the sources of value co-creation and its effects on businesses using social platforms such as Facebook, Instagram, Twitter and blogs.
Design/methodology/approach
A total of 301 survey responses were selected. The selected respondents indicated that they lived in South Korea, had an occupation as a private business or marketer and had used a social platform one or more times a day. The hypotheses were tested using a structural equation model.
Findings
The study reveals that the source of sustainable value co-creation between social platforms and businesses positively affects the competitive advantage of maintaining businesses. This advantage reveals an integrated relationship that leads to the successful financial performance of businesses through online word of mouth and customer satisfaction. Moreover, this study finds that the relationship between variables differs by social platform types (unidirectional vs bidirectional service).
Research limitations/implications
The results of this study explain the relationship between value co-production, value-in-use, SCA and long-term performance. However, this study focused on private business and marketing staff working in companies in South Korea. Accordingly, more countries in which social platforms are widely utilized should be taken into account to help generalize the empirical findings.
Practical implications
There is a difference in the relationship between co-creation activity and cost advantage/long-term performance in accordance with the service type of a social platform. The results indicate that a bidirectional service is a more powerful tool for cost advantage and long-term performance.
Originality/value
This study focuses on the role of value co-creation in social platforms to ensure companies’ sustainable competitive advantage and performance. The results of this study will help companies develop online marketing strategies using social platforms.
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Qi Jiang, Miyea Kim, Eunju Ko and Kyung Hoon Kim
The purpose of this study is to develop the scale of the metaverse experience and examine the effect of the metaverse experience on consumer happiness in luxury brands.
Abstract
Purpose
The purpose of this study is to develop the scale of the metaverse experience and examine the effect of the metaverse experience on consumer happiness in luxury brands.
Design/methodology/approach
A survey was distributed to metaverse users from general participants in the Republic of Korea. To reach this goal, the domain of the metaverse experience is defined, items are created through qualitative interviews, the initial scale is refined and then the scale is tested. A total of 262 valid responses were used for exploratory factor analysis (EFA), and 238 data were used for confirmatory factor analysis (CFA). The hypothesis was tested using structural equation modeling (SEM) and SmartPLS 3.0.
Findings
The results showed that the metaverse experience comprises three sub-constructs, namely fantasies, feelings and fun. Also, the metaverse experience affects consumer happiness positively in luxury brands.
Originality/value
This study investigates consumer experience in the metaverse environment. The authors examined the metaverse experience based on the experiential aspects of the consumption of luxury brands and develop the scale development of the metaverse experience. Furthermore, the relationship between metaverse experiences and consumer happiness provides a new perspective in studying metaverse marketing strategy and customer service creation.