• Title/Summary/Keyword: Managerial Flexibility

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Impact of Sales Franchisor's Relationship-oriented Efforts on Relationship Quality and Recontract Intentions: From the Franchisee Perspective (판매 프랜차이즈 가맹본부의 관계지향적 노력이 가맹점의 관계품질과 재계약의도에 미치는 영향)

  • Hwang, Jae Kwang;Yang, In Seok;Lee, Yun Bok
    • The Korean Journal of Franchise Management
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    • v.5 no.2
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    • pp.25-49
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    • 2014
  • This study is to examine the impact of sales franchisor's relationship-oriented efforts(flexibility, problem solving support, customization, information exchange, and supervisor characteristics) on relationship quality(satisfaction, trust, and commitment) and recontract intentions. In order to analyze proposed model, this study collected the 233 franchisees with owner or hired manager. The data were analyzed with SPSS/PC 18.0 and AMOS 18.0. First, to test unidimensionality and nomological validity of the measures of each construct we employed a scale refinement procedure. The result of reliability test with confirmatory factor analysis warranted unidimensionality of the measures for each construct. The findings are as follows: First, relationship-oriented efforts had positive effects on relationship quality (satisfaction, trust, and commitment) of franchisee. Second, satisfaction had positive effect on trust, but did not on recontract intentions. Third, trust had positive effects on commitment and recontract intentions, respectively. Finally, commitment had a positive effect on recontract intentions. At the end of this paper, managerial implications and limitations and future research directions were suggested.

Understanding the Key Factors Influencing the Success of Sharing Accommodation Services: Evidence from Airbnb.com (공유숙박 서비스 성공에 미치는 요인에 대한 실증연구)

  • Jee Hee Kim;Gunwoong Lee
    • Information Systems Review
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    • v.21 no.2
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    • pp.69-89
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    • 2019
  • Recently, consumers are increasingly interested in the sharing economy, which utilizes various resources by sharing unused or under-used products/services with others. This study focuses on Airbnb, a representative sharing economy platform, to identify the success factors of the sharing accommodation services. The key properties of sharing accommodation services are extensively surveyed from extant literature and are classified them into the three important factors (economic, convenience, and trust) that influence the success of room-sharing services. The research data include 1,673 Airbnb hosts who offered accommodations in New York City, USA, in June 2018. The research variables of economic-, convenience-, and trust-related factors are utilized in the empirical analyses. The results of this study show that the number of available facilities, flexibility of refunds, the response rate and time to customer requests, and the status of Super host are positively associated with guest satisfaction from sharing accommodation services. This study bears significant managerial implications by suggesting a set of practical guidelines to participants in sharing accommodation services.

An Option Pricing Model for the Natural Resource Development Projects (해외자원개발사업 평가를 위한 옵션가격 결정모형 연구)

  • Lee, In-Suk;Heo, Eunnyeong
    • Environmental and Resource Economics Review
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    • v.13 no.4
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    • pp.735-761
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    • 2004
  • As a possible alternative to Traditional Discounted Cash Flow Method, "Option Pricing Model" has drawn academic attentions for the last a few decades. However, it has failed to replace traditional DCF method practically due to its mathematical complexity. This paper introduces an option pricing valuation model specifically adjusted for the natural resource development projects. We add market information and industry-specific features into the model so that the model remains objective as well as realistic after the adjustment. The following two features of natural resource development projects take central parts in model construction; product price is a unique source of cash flow's uncertainty, and the projects have cost structure from capital-intense industry, in which initial capital cost takes most part of total cost during the projects. To improve the adaptability of Option Pricing Model specifically to the natural resource development projects, we use Two-Factor Model and Long-term Asset Model for the analysis. Although the model introduced in this paper is still simple and reflects limited reality, we expect an improvement in applicability of option pricing method for the evaluation of natural resource development projects can be made through the process taken in this paper.

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An Empirical Study on the Determinants of Supply Chain Management Systems Success from Vendor's Perspective (참여자관점에서 공급사슬관리 시스템의 성공에 영향을 미치는 요인에 관한 실증연구)

  • Kang, Sung-Bae;Moon, Tae-Soo;Chung, Yoon
    • Asia pacific journal of information systems
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    • v.20 no.3
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    • pp.139-166
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    • 2010
  • The supply chain management (SCM) systems have emerged as strong managerial tools for manufacturing firms in enhancing competitive strength. Despite of large investments in the SCM systems, many companies are not fully realizing the promised benefits from the systems. A review of literature on adoption, implementation and success factor of IOS (inter-organization systems), EDI (electronic data interchange) systems, shows that this issue has been examined from multiple theoretic perspectives. And many researchers have attempted to identify the factors which influence the success of system implementation. However, the existing studies have two drawbacks in revealing the determinants of systems implementation success. First, previous researches raise questions as to the appropriateness of research subjects selected. Most SCM systems are operating in the form of private industrial networks, where the participants of the systems consist of two distinct groups: focus companies and vendors. The focus companies are the primary actors in developing and operating the systems, while vendors are passive participants which are connected to the system in order to supply raw materials and parts to the focus companies. Under the circumstance, there are three ways in selecting the research subjects; focus companies only, vendors only, or two parties grouped together. It is hard to find researches that use the focus companies exclusively as the subjects probably due to the insufficient sample size for statistic analysis. Most researches have been conducted using the data collected from both groups. We argue that the SCM success factors cannot be correctly indentified in this case. The focus companies and the vendors are in different positions in many areas regarding the system implementation: firm size, managerial resources, bargaining power, organizational maturity, and etc. There are no obvious reasons to believe that the success factors of the two groups are identical. Grouping the two groups also raises questions on measuring the system success. The benefits from utilizing the systems may not be commonly distributed to the two groups. One group's benefits might be realized at the expenses of the other group considering the situation where vendors participating in SCM systems are under continuous pressures from the focus companies with respect to prices, quality, and delivery time. Therefore, by combining the system outcomes of both groups we cannot measure the system benefits obtained by each group correctly. Second, the measures of system success adopted in the previous researches have shortcoming in measuring the SCM success. User satisfaction, system utilization, and user attitudes toward the systems are most commonly used success measures in the existing studies. These measures have been developed as proxy variables in the studies of decision support systems (DSS) where the contribution of the systems to the organization performance is very difficult to measure. Unlike the DSS, the SCM systems have more specific goals, such as cost saving, inventory reduction, quality improvement, rapid time, and higher customer service. We maintain that more specific measures can be developed instead of proxy variables in order to measure the system benefits correctly. The purpose of this study is to find the determinants of SCM systems success in the perspective of vendor companies. In developing the research model, we have focused on selecting the success factors appropriate for the vendors through reviewing past researches and on developing more accurate success measures. The variables can be classified into following: technological, organizational, and environmental factors on the basis of TOE (Technology-Organization-Environment) framework. The model consists of three independent variables (competition intensity, top management support, and information system maturity), one mediating variable (collaboration), one moderating variable (government support), and a dependent variable (system success). The systems success measures have been developed to reflect the operational benefits of the SCM systems; improvement in planning and analysis capabilities, faster throughput, cost reduction, task integration, and improved product and customer service. The model has been validated using the survey data collected from 122 vendors participating in the SCM systems in Korea. To test for mediation, one should estimate the hierarchical regression analysis on the collaboration. And moderating effect analysis should estimate the moderated multiple regression, examines the effect of the government support. The result shows that information system maturity and top management support are the most important determinants of SCM system success. Supply chain technologies that standardize data formats and enhance information sharing may be adopted by supply chain leader organization because of the influence of focal company in the private industrial networks in order to streamline transactions and improve inter-organization communication. Specially, the need to develop and sustain an information system maturity will provide the focus and purpose to successfully overcome information system obstacles and resistance to innovation diffusion within the supply chain network organization. The support of top management will help focus efforts toward the realization of inter-organizational benefits and lend credibility to functional managers responsible for its implementation. The active involvement, vision, and direction of high level executives provide the impetus needed to sustain the implementation of SCM. The quality of collaboration relationships also is positively related to outcome variable. Collaboration variable is found to have a mediation effect between on influencing factors and implementation success. Higher levels of inter-organizational collaboration behaviors such as shared planning and flexibility in coordinating activities were found to be strongly linked to the vendors trust in the supply chain network. Government support moderates the effect of the IS maturity, competitive intensity, top management support on collaboration and implementation success of SCM. In general, the vendor companies face substantially greater risks in SCM implementation than the larger companies do because of severe constraints on financial and human resources and limited education on SCM systems. Besides resources, Vendors generally lack computer experience and do not have sufficient internal SCM expertise. For these reasons, government supports may establish requirements for firms doing business with the government or provide incentives to adopt, implementation SCM or practices. Government support provides significant improvements in implementation success of SCM when IS maturity, competitive intensity, top management support and collaboration are low. The environmental characteristic of competition intensity has no direct effect on vendor perspective of SCM system success. But, vendors facing above average competition intensity will have a greater need for changing technology. This suggests that companies trying to implement SCM systems should set up compatible supply chain networks and a high-quality collaboration relationship for implementation and performance.