Purpose -This paper focuses on identifying key factors which condition the occurrence of synergies in multi-entity companies in relation to the application of knowledge management procedures in the marketing and development function. Design/methodology/approach -The factors have been identified as selected knowledge management subsystems and subsequently validated empirically in the groups of companies under review. The questionnaire used as a research tool included 27 questions on the organisation of the key management processes in the area of marketing and development in terms of knowledge management. The research results are described by means of the correlation and median analysis. Findings -Our observations and research findings appear to support a claim that the management of a multiple organisation that allows identification, selection, organisation, dissemination, and transfer of important information between group members is a crucial determinant of synergies and financial performance of a group of companies. Originality/value -The enterprises in the former Comecon countries had a relatively little time to make important changes in the organisation and management, to improve their effectiveness and competitiveness. In the Polish economic realities, as the privatisation and restructuring processes of the former state-owned enterprises got under way, one of the ways in which businesses sought to improve performance was to establish groups of companies. We described the hidden effects of this process, which primary was not included to the direct goals of the group establishing process. However, is one of the most important effects of this activity.
Niniejszy artykuł jest studium przypadku, opisującym praktyczne zastosowanie rozwiązań z zakresu zarządzania ryzykiem w realizacji projektu budowy terminala do regazyfikacji skroplonego gazu ziemnego (LNG) w Świnoujściu. Projekt o wartości ponad 3 miliardów złotych realizowany był w formule EPC (Engineering, Procurement & Construction), co stwarzało dodatkowe trudności we wdrożeniu systemu zarządzania ryzykiem ze względu na określony podział ról i odpowiedzialności pomiędzy wykonawcą a inwestorem.
Purpose -The purpose of the article is to identify and systematize the terms of successful acquisitions on the enterprise market, along with making their classification into the necessary (which enable reaching synergy) and additional conditions (increasing the level of synergy or optimizing the process of obtaining it). Design/methodology/approach -The methodology is based on direct interviews with the CEO, CFO and COOs. The surveys were carried out between the year 2000 and 2010 in a few tens of companies conducting acquisitions. The aim was to answer the question of whether the individual conditions of successful transactions were carried out and what were the results of acquisitions from the perspective of changes in the expected value (or observed) by the buyer. There has also been used the personal experience of the authors as participants in the acquisition on the sides of both, the buyer and the purchased. Findings -The results allowed us to identify key conditions for success at each stage of the transaction process (critical success factors (CSF)). They also made it possible to classify the terms according to the criterion of their significance. The results clearly show that the cost-effective acquisition processes at the same time require fulfilling a number of conditions. The lack of synergetic effects of these conditions may decide not possible to obtain the expected increase in value in the purchasing process.Research limitations/implications -The research was conducted in a wide spectrum of companies, regardless of the ongoing activities in the industry, mainly on the Polish market. This means that the findings and recommendations are universally applicable, provided that some of the proposals may relate in particular to the so-called emerging markets. Practical implications -The practical application of recommendations given in the paper will allow to reduce the risk and abridge the scale of failures in the acquisition processes. The attention is drawn to the practical implications of the pitfalls to which the managers who decide on and carry out complex processes of capital investments may be exposed. Originality/value -As a result of literature and empirical research as well as the article's authors' own experience as experts, there has been proposed a comprehensive model of the most important behaviors conditioning the success of the acquisition in the context of building the shareholder value. This very model organizes the past experience of the M&A market, classifies the important factors in the M&A processes according to their effect on the value, and it supplements them with new elements, allowing the construction of a sustainable competitive advantage of the organization.
BACKGROUND: Achieving a satisfactory level of engagement was a prerequisite for the implementation of a new strategy in organizations, which entailed a complex and costly investment program. OBJECTIVE: This paper presents an approach to managing employee engagement in a natural gas company. METHODS: The study involved in particular direct observation due to the fact that one of the authors of the article, during the implementation of the project, was a member of the company’s management board and the project team. The evaluation of the effectiveness of the implemented changes was verified with a survey by an external consulting company which was conducted annually over a period of 8 years on a group of about 1000 employees. RESULTS: By virtue of the conducted survey and practical consideration given to its results, it has become possible to radically increase employee engagement rates and, consequently, to implement a breakthrough strategy in the company. CONCLUSIONS: The analysis of research results leads to a clear conclusion that the execution of innovative projects - in the presented case, the company’s strategy - would not have been possible without a significant increase in employee engagement in the organization.
Artykuł poświęcony jest zagadnieniu przepływu środków pieniężnych w polskich spółkach kapitałowych w kontekście ścieżek ich powstawania.
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