Martin H. Kunc, Maria Cleofe Giorgino and Federico Barnabè
According to the “strategic focus and future orientation” principle of the integrated reporting (<IR>) framework, <IR> should provide information useful to support investors in…
Abstract
Purpose
According to the “strategic focus and future orientation” principle of the integrated reporting (<IR>) framework, <IR> should provide information useful to support investors in assessing the future financial performance of organizations. This study aims to support the operationalization of this function by improving the forward-looking orientation of the integrated report.
Design/methodology/approach
Basing on the backward- and forward-looking disclosure in <IR> and the dynamic resource-based view (DRBV), this study develops an explorative case study building a quantitative simulation model based on an integrated report.
Findings
This study provides useful insights into how operationalizing the <IR> “future orientation” and obtaining more quantitative information on the organization’s capacity to create value in the future by applying DRBV and quantitative simulation modeling.
Research limitations/implications
The article presents one case study to explore the method suggested to improve the <IR> forward-looking orientation. Additional case studies applying the same research design should be certainly useful to refine the method.
Practical implications
Supporting the <IR> forward-looking orientation, this study provides additional information for the decision-making process of investors, thus contributing to the efficient and productive allocation of capital.
Originality/value
Few studies have investigated forward-looking information in integrated reports, highlighting the existence of an “information gap” referred to such disclosure. Overcoming these previous results, the study provides useful insights on how to improve the <IR> forward-looking orientation.
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The purpose of this paper is to analyse consumer buying behaviour in the Japanese rice wine, also known as sake market.
Abstract
Purpose
The purpose of this paper is to analyse consumer buying behaviour in the Japanese rice wine, also known as sake market.
Design/methodology/approach
The study applies a novel qualitative and quantitative analytical methodology to an off-license channel in Japan. The methodology involves the use of anchoring-and-adjustment theory and simulation to a large set of point of sale data. The selection of the brands used for the study are more than 230 brands and more than 150 sake breweries.
Findings
Age and gender are important factors determining recurrent patterns of purchasing behaviour. Small size packaging, e.g. one cup, has the highest volume in sales, for example, convenience shopping, but it depends on exogenous factors, e.g. summer season or festive events.
Research limitations/implications
Limitations are related with the lack of specific personal data from consumers that impedes to test behavioural attitudes driving loyalty to brands. Anchoring-and-adjustment theory can be a valid approach to evaluate large longitudinal data sets of purchasing behaviour.
Practical implications
Results indicate that fragmented markets tend to over-expand the assortment affecting volume stability. However, this dynamics is difficult to avoid when all participants are engaged in this behaviour and the market is strongly segmented by age and gender.
Originality/value
The paper contributes to the body of knowledge of buyer behaviour in relation to purchasing and consumption for other types of wine. It is the first application in alcoholic beverages of anchor-and-adjustment theory.
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Yunfei Gu and Martin Kunc
This paper aims to explore the applicability and strengths of proposing the three-paradigm hybrid simulation (HS) approach to developing and analysing strategies. The objective of…
Abstract
Purpose
This paper aims to explore the applicability and strengths of proposing the three-paradigm hybrid simulation (HS) approach to developing and analysing strategies. The objective of the modelling effort is to conceptually illustrate its use in strategic planning by combining with the threat-opportunity-weakness-strength (TOWS) matrix, which builds a bridge between strategic management with the operations research community. The authors also aim to introduce a modelling framework to help model designers to apply HS to their own business issues.
Design/methodology/approach
The paper presents a process to develop a HS model associated with the development of strategies using the TOWS matrix.
Findings
After developing the model and testing four strategies, the best option for the supermarket to increase market share and sales is implementing the strength–opportunity strategy, which involves online shopping to adapt to the digital world.
Research limitations/implications
First, some modelling assumptions are used to simplify the development process, but they need further validation. Second, the real data collection is limited. Third, the personal learning edition of the simulation software is not a comprehensive version and has some limitations.
Practical implications
The hybrid model and the scenario planning introduced, in this study, could allow decision makers to rehearse the potential strategy before actual implementation. The framework is easy to implement to other business and industry.
Originality/value
This study links HS with strategic management, which has not been performed previously and evaluates the capability of HS in strategic planning. The functionality of the modelling platform has been tested for simulating a completely dynamic system.
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Martin Kunc, David Menival and Steve Charters
The traditional view of the process of value creation suggests that it occurs inside the firm through its activities or resources. However, there are special cases where firms…
Abstract
Purpose
The traditional view of the process of value creation suggests that it occurs inside the firm through its activities or resources. However, there are special cases where firms create value using external shared resources, e.g. a territorial brand. The purpose of this study is to demonstrate how the combination of both internal and external resources co-create value in wine regions.
Design/methodology/approach
An in-depth case study of nine firms covering different co-creation processes in Champagne, France. The selection of interviews was designed to cover the diversity of firms within the area with different market positioning. Most firms in the region have been selling champagne for more than 50 years, so they have established long-standing relationships with their markets.
Findings
While there is only one value, Champagne, firms create many different values based on owners’ perceptions with diverse effects on the process of value co-creation in the territorial brand. Some firms have strategies which could deteriorate the value of shared resource. This threat needs institutional changes with unknown consequences on the territorial brand.
Research limitations/implications
The research only involved one case study with a highly developed territorial brand system. There are multiple wine regions that have considered managing either implicitly or explicitly their shared strategic resources (e.g. a territorial brand). Consequently, the findings may not be applicable to all wine regions but it can provide a “gold standard” for regions and wineries that do not realize the impact that their value creation actions can have on the wine region.
Practical implications
Collective management of shared strategic resources, such as a territorial brand, can be a powerful action to sustain competitive advantage rather than individual actions to develop individual brands. However, it can work only with an institutional organization managing the collective process.
Originality/value
The paper offers lessons from a comprehensive and well-known case study where resource bundles co-create value with a territorial brand.
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Martin H. Kunc, Federico Barnabè and Maria Cleofe Giorgino
The study aims to contribute to the debate on how to identify and manage an organization’s sustainability-related resources and processes by understanding the impact of business…
Abstract
The study aims to contribute to the debate on how to identify and manage an organization’s sustainability-related resources and processes by understanding the impact of business activities on the environment and evaluating actions to ameliorate their impacts. Within this debate, and specifically taking into consideration the opportunity to support circular economy actions and initiatives, the study focuses on integrated reporting (IR) practices. In detail, this study advocates the joint use of IR principles with the dynamic resource-based view (DRBV) of the firm, adopting their representation of resources and impact of the business activities to identify environmental friendly “hot spots” in organizations. The framework is illustrated through two exploratory case studies.
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Nikolaos Otheitis and Martin Kunc
Seaborne trade accounts for 90 per cent of world’s total trade activity. Ship management is a highly skilled discipline with a high degree of complexity yet it has failed to…
Abstract
Purpose
Seaborne trade accounts for 90 per cent of world’s total trade activity. Ship management is a highly skilled discipline with a high degree of complexity yet it has failed to follow with the same pace the advancements of performance measurement systems (PMSs) like other industries. Business performance measurement has only recently become a relevant topic in shipping. The purpose of this paper is to evaluate the adoption of PMS in the shipping industry.
Design/methodology/approach
A questionnaire was developed based on the performance measurement literature and submitted to 100 shipping companies around the world obtaining 41 usable questionnaires covering 13 countries from Europe, Asia and America.
Findings
The adoption of performance measurement differs based on type of business: liquid bulk (tanker) vessels and bulk carriers or containers. Quality and safety management systems have fostered the adoption of performance measurement positively in tankers impacting decision making and the performance of shipping companies using PMS.
Research limitations/implications
While the sample is representative of the situation of the industry, it represents the results of one point in time.
Practical implications
The use of PMSs can be a tool to achieve superior performance but it may be fostered by, and has to be aligned with the needs of, internal and external stakeholders. Early adopters in the shipping industry are among the leaders in the industry.
Originality/value
The paper is a unique contribution to performance measurement since it explores the adoption of PMSs and its impact in performance at industry level in a global industry.
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Lucrezia Songini, Anna Pistoni, Pierre Baret and Martin H. Kunc
Lucrezia Songini, Anna Pistoni, Pierre Baret and Martin H. Kunc