DOI QR코드

DOI QR Code

The Effects of Project-Based Organizational Resources on the Business Performance

프로젝트 조직자원이 경영성과에 미치는 영향

  • Jin, Sangjoon (Graduate School of Business Administration, Hanyang University) ;
  • Oh, Minjeong (Graduate School of Business Administration, Hanyang University) ;
  • Park, Sohyun (College of Business Administration, Konkuk University)
  • 진상준 (한양대학교 대학원 경영학과) ;
  • 오민정 (한양대학교 대학원 경영학과) ;
  • 박소현 (건국대학교 경영학과)
  • Received : 2018.08.06
  • Accepted : 2018.09.18
  • Published : 2018.09.30

Abstract

The purpose of this study is to examine the effect of project-based organizational resources on the business performance in the resource-based view (RBV) and dynamic capability one and analyze their relationship through an integrated model. The RBV argues that firms get competitive advantages when they have VRIN characterized resources but dynamic capability view argues that RBV has its limitation under volatility so it enables them to obtain competitive advantages in ever changing environments. This study analyzes data collected from 270 survey questionnaires on the project management related staff at the project-based organization among major companies in Korea. The result demonstrates that two project organizational resources on strategic and executional management with VRIN characteristics are found to bring positive effects on the organizational dynamic capabilities and also the dynamic capabilities such as integration & reconfiguration, organizational learning are verified to bring meaningful positive effects on the business performance. On the other hand, unlike previous studies, ambidexterity has quite a weak effect on the business performance. Therefore, we expect that the resources of the project-based organization with VRIN lead to strengthen the firm's business performance through organizational dynamic capabilities and produce high performance through the integrated model of RBV and dynamic capability one. The study has academic meanings that widely confirm the effects and characteristics of main elements of VRIN project organizational resources on the business performance of competitive advantage through the dynamic capabilities of the organization by the regression on the precedent studies regarding the project management resources and their relationship with the VRIO characteristics. The practical implication is that it is preferentially necessary for the organization to obtain VRIN resources and organizational dynamic capabilities, especially organizational learning to have sustainable competitive advantages.

References

  1. Ambrosini, V., Bowman, C., and Collier, N., Dynamic capabilities : an exploration of how firms renew their resource base, British Journal of Management, 2009, Vol. 20, No. s1, pp. 9-24. https://doi.org/10.1111/j.1467-8551.2008.00610.x
  2. Aubry, M. and Hobbs, B., A fresh look at the contribution of project management to organizational performance, Project Management Journal, 2011, Vol. 42, No. 1, pp. 3-16. https://doi.org/10.1002/pmj.20213
  3. Barney, J., Firm resources and sustained competitive advantage, Journal of Management, 1991, Vol. 17, No. 1, pp. 99-120. https://doi.org/10.1177/014920639101700108
  4. Barney, J.B. and Clark, D.N., Resource-based theory : Creating and sustaining competitive advantage, Oxford University Press on Demand, 2007.
  5. Barney, J.B. and Hesterly, W.S., Strategic management and competitive advantage, 4th Edition, Upper Saddle River, NJ : Pearson Prentice Hall, 2013.
  6. Bredin, K., People capability of project-based organisations : A conceptual framework, Inter-National Journal of Project Management, 2008, Vol. 26, No. 5, pp. 566-576. https://doi.org/10.1016/j.ijproman.2008.05.002
  7. Burgelman, R.A., Intra-organizational ecology of strategy making and organizational adaptation : Theory and field research, Organization Science, 1991, Vol. 2, No. 3, pp. 239-262. https://doi.org/10.1287/orsc.2.3.239
  8. Cardeal, N., Antonio, N.S., Valuable, rare, inimitable resources and organization(VRIO) resources or valuable, rare, inimitable resources(VRI) capabilities : What leads to competitive advantage?, 2012.
  9. Cepeda, G. and Vera, D., Dynamic capabilities and operational capabilities : A knowledge management perspective, Journal of Business Research, 2007, Vol. 60, No. 5, pp. 426-437. https://doi.org/10.1016/j.jbusres.2007.01.013
  10. Chandler, A.D., Strategy and structure : Chapters in the history of the industrial enterprise, MIT press, 1990.
  11. Cho, Y.S., The Influence of Resource and Dynamic Capability on Competitive Advantage, Journal of Korea Trade, 2010, Vol. 35, No. 5, pp. 275-301.
  12. Cooper, R.G., Edgett, S.J., and Kleinschmidt, E.J., Portfolio management in new product development : Lessons from the leaders, Research-Technology Management, 1997, Vol. 40, No. 5, pp. 16-28.
  13. Dai, C.X. and Wells, W.G., An exploration of project management office features and their relationship to project performance, International Journal of Project Management, 2004, Vol. 22, No. 7, pp. 523-532. https://doi.org/10.1016/j.ijproman.2004.04.001
  14. Davies, A. and Tim, B., Organisational capabilities and learning in complex product systems : towards repeatable solutions, Research Policy, 2000, Vol. 29, No. 7-8, pp. 931-953. https://doi.org/10.1016/S0048-7333(00)00113-X
  15. D'este, P., The distinctive patterns of capabilities accumulation and inter-firm heterogeneity : the case of the Spanish pharmaceutical industry, Industrial and Corporate Change, 2002, Vol. 11. No. 4, pp. 847-874. https://doi.org/10.1093/icc/11.4.847
  16. Drouin, N. and Jugdev, K., Standing on the shoulders of strategic management giants to advance organizational project management, International Journal of Managing Projects in Business, 2013, Vol. 7, No. 1, pp. 61-77. https://doi.org/10.1108/IJMPB-04-2013-0021
  17. Eisenhardt, K.M. and Martin, J.A., Dynamic capabilities : what are they?, Strategic Management Journal, 2000, Vol. 21, No. 10-11, pp. 1105-1121. https://doi.org/10.1002/1097-0266(200010/11)21:10/11<1105::AID-SMJ133>3.0.CO;2-E
  18. Gibson, C.B. and Birkinshaw, J., The antecedents, consequences, and mediating role of organizational ambidexterity, Academy of Management Journal, 2004, Vol. 47, No. 2, pp. 209-226. https://doi.org/10.2307/20159573
  19. Gurisatti, P., SOLI, V., and Tattara, G., Patterns of diffusion of new technologies in small metal-working firms : The case of an Italian region, Industrial and Corporate Change, 1997, Vol. 6, No. 2, pp. 275-312. https://doi.org/10.1093/icc/6.2.275
  20. Harreld, J.B., O'reilly III, C.A., and Tushman, M.L., Dynamic capabilities at IBM : Driving strategy into action, California Management Review, 2007, Vol. 49, No. 4, pp. 21-43. https://doi.org/10.2307/41166404
  21. Helfat, C.E., Stylized facts, empirical research and theory development in management, 2007.
  22. Hesterly, B. and Barney, J., Strategic management and competitive advantage, England, Pearson Prentice Hall, 2008.
  23. Hill, C.W.L., Jones, G.R., and Schillng, M.A., Strategic management : theory : an integrated approach, Cengage Learning, 2014.
  24. Huang, J., Baptista, J., and Newell, S., Communicational ambidexterity as a new capability to manage social media communication within organizations, The Journal of Strategic Information Systems, 2015, Vol. 24, No. 2, pp. 49-64. https://doi.org/10.1016/j.jsis.2015.03.002
  25. Huh, Y.H., Determinants of dynamic capabilities, and their relationships with competitive advantages and performances in overseas markets : Focusing on the Korean manufacturing SMEs engaging in exports [dissertation], [Seoul, Korea] : Sogang University, 2011.
  26. Im, J.S., Determinants of dynamic capability and its effects on performance of Korean MNE subsidiaries in emerging markets [dissertation], [Seoul, Korea] : Sogang University, 2010.
  27. Jarzabkowski, P. and Wilson, D.C., Actionable Strategy Knowledge : A Practice Perspective, European Management Journal, 2006, Vol. 24, No. 5, pp. 348-367. https://doi.org/10.1016/j.emj.2006.05.009
  28. Jugdev, K., Mathur, G., and Fung, T.S., Project management assets and their relationship with the project management capability of the firm, International Journal of Project Management, 2007, Vol. 25, No. 6, pp. 560-568. https://doi.org/10.1016/j.ijproman.2007.01.009
  29. Jung, Y.G. and Yoon, J.K., Test of an integrative model of the resource-based view and the dynamic capability one, Korea Business Review, 2013, Vol. 42, No. 1, pp. 53-83.
  30. Killen, C.P. and Hunt, R.A., Dynamic capability through project portfolio management in service and manufacturing industries, International Journal of Managing Projects in Business, 2010, Vol. 3, No. 1, pp. 157-169. https://doi.org/10.1108/17538371011014062
  31. Killen, C.P., Hunt, R., and Kleinschmidt, E., Dynamic capabilities : innovation project portfolio management, In : Australian and New Zealand Academy of Management Conference, ANZAM, 2007.
  32. Killen, C.P., Jugdev, K., Drouin, N., and Petit, Y., Advancing project and portfolio management research : Applying strategic management theories, International Journal of Project Management, 2012, Vol. 30, No. 5, pp. 525-538. https://doi.org/10.1016/j.ijproman.2011.12.004
  33. Kitapci, H. and Celik, V., The relationship between ambidexterity, organizational learning capacity and firm quality performance : An empirical study, Procedia-Social and Behavioral Sciences, 2014, No. 109, pp. 827-836.
  34. Lin, Y. and Wu, L.Y., Exploring the role of dynamic capabilities in firm performance under the resource-based view framework, Journal of Business Research, 2014, Vol. 67, No. 3, pp. 407-413. https://doi.org/10.1016/j.jbusres.2012.12.019
  35. Makadok, R., Toward a synthesis of the resource-based and dynamic-capability views of rent creation, Strategic Management Journal, 2001, Vol. 22, No. 5, pp. 387-401. https://doi.org/10.1002/smj.158
  36. Mathur, G., Jugdev, K., and Shing, F.T., Intangible project management assets a determinants of competitive advantage, Management Research News, 2007, Vol. 30, No. 7, pp. 460-475. https://doi.org/10.1108/01409170710759694
  37. Porter, M.E., How competitive forces shape strategy, In : Readings in strategic management, Palgrave, London, 1989, pp. 133-143.
  38. Powell, T.C., Competitive advantage : logical and philosophical considerations, Strategic Management Journal, 2001, Vol. 22, No. 9, pp. 875-888. https://doi.org/10.1002/smj.173
  39. Priem, R.L. and Butler, J.E., Is the resource-based "view" a useful perspective for strategic management research?, Academy of Management Review, 2001, Vol. 26, No. 1, pp. 22-40. https://doi.org/10.2307/259392
  40. Raisch, S. and Birkinshaw, J., Organizational ambidexterity : Antecedents, outcomes, and moderators, Journal of Management, 2008, Vol. 34, No. 3, pp. 375-409. https://doi.org/10.1177/0149206308316058
  41. Teece, D.J., Explicating dynamic capabilities : the nature and microfoundations of (sustainable) enterprise performance, Strategic Management Journal, 2007, Vol. 28, No. 13, pp. 1319-1350. https://doi.org/10.1002/smj.640
  42. Teece, D.J., Gary, P., and Amy, S., Dynamic capabilities and Strategic Management, Strategic Management Journal, 1997, Vol. 18, No. 7, pp. 509-533. https://doi.org/10.1002/(SICI)1097-0266(199708)18:7<509::AID-SMJ882>3.0.CO;2-Z
  43. Thomas, J. and Mark, M., Researching the value of project management, Project Management Institute, 2008.
  44. Wang, C.L. and Ahmed, P.K., Dynamic capabilities, A review and research agenda, International Journal of Management Reviews, 2007, Vol. 9, No. 1, pp. 31-51. https://doi.org/10.1111/j.1468-2370.2007.00201.x
  45. Wernerfelt, B., A resource-based view of the firm, Strategic Management Journal, 1984, Vol. 5, No. 2, pp. 171-180. https://doi.org/10.1002/smj.4250050207
  46. Winter, S.G., Understanding dynamic capabilities, Strategic Management Journal, 2003, Vol. 24, No. 10, pp. 991-995. https://doi.org/10.1002/smj.318
  47. Zahra, S.A. and George, G., Absorptive capacity : A review, reconceptualization, and extension, Academy of Management Review, 2002, Vol. 27, No. 2, pp. 185-203. https://doi.org/10.5465/amr.2002.6587995
  48. Zhan, W. and Luo, Y., Performance implications of capability exploitation and upgrading in international joint ventures, Management International Review, 2008, Vol. 48, No. 2, pp. 227-253. https://doi.org/10.1007/s11575-008-0013-0
  49. Zoiopoulos, I.I., Organizational Configurations and Project Capability Development : Lessons from Construction, Procedia-Social and Behavioral Sciences, 2013, Vol. 74, pp. 81-90. https://doi.org/10.1016/j.sbspro.2013.03.025
  50. Zollo, M. and Winter, S.G., Deliberate learning and the evolution of dynamic capabilities, Organization science, 2002, Vol. 13, No. 3, pp. 339-351. https://doi.org/10.1287/orsc.13.3.339.2780