Formulating the strategy map: case studies on SMEs in Thailand

Phusavat, Kongkiti; Jaiwong, Pensuda

doi:10.1504/ijmed.2008.015903

Cited by 7 publications

(5 citation statements)

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“…Financial performance information is crucial to identify and evaluate MSME success in their operational activities. MSMEs' financial performance can be measured with their profits and total assets during certain periods (Lia, 2015;Phusavat & Jaiwong, 2008).…”

Section: Msme Performancementioning

confidence: 99%

Entrepreneurial orientation and emotional bias in MSMEs’ financing and performance

Rita

Kristanto

Nugrahanti

et al. 2021

jeb

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There have been numerous studies investigating the dynamics of micro, small and medium enterprises (MSME) development. However, this research topic still offers several interesting research gaps to be explored. Accordingly, the purpose of this research is to test the effects of entrepreneurial orientation and asymmetric information that affect MSME entrepreneurs’ emotional biases, as well as the relationships between these variables and MSME’s financing and performance. Our research objects are MSMEs located in four urban villages in Salatiga City, Central Java that engage in various business sectors, such as the food and beverage, the service industry, the groceryw, and the horticulture sector. We analyze the research data with the Partial Least Square (PLS) software. The research results reveal that entrepreneurial orientation and asymmetric information positively influence MSME entrepreneurs’ emotional bias. Meanwhile, emotional bias has a significantly positive influence on financing. Finally, we also find that financing positively affects MSMEs’ performance. In sum, our study demonstrates the importance of the behavioral aspect (emotional bias) in explaining MSMEs’ performance through its indirect impact through financing.

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Section: Msme Performancementioning

confidence: 99%

Entrepreneurial orientation and emotional bias in MSMEs’ financing and performance

Rita

Kristanto

Nugrahanti

et al. 2021

jeb

View full text Add to dashboard Cite

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“…It helps to situate the organisation in its environment, to check how the organisation's strategy is linked to the key stakeholders and anticipate how they may influence the achievement of the strategic objectives. organisations monitor many KPIs [for some common used KPIs, see Phusavat and Jaiwong (2008)], these indicators often allow analysis of the performance of past periods to carry out the necessary corrective actions in the future. However, the likelihood that the elements that have impacted performance are increasingly low, as risks are constantly evolving as the organisation pursues its objectives.…”

Section: Link Strategic Objectives With the Key Stakeholdersmentioning

confidence: 99%

The risk-based management control system: a stakeholders' perspective to design management control systems

Adib

Zhang

2019

IJMED

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Due to the proliferation of international crises and the increasing pace of changes in the global economic and financial systems, companies are facing diverse and challenging risks. Hence, the need to consider the notion of risk in management control is legitimate and more specifically, the risks that stakeholders present regarding strategic objectives. Integrating this risk into management control systems will allow a better implementation of the strategy, since the latter is intended to be carried out by the organisation in an environment, in interaction with stakeholders who can affect or be affected by this strategy. This study develops a conceptual model of management control considering the risk of stakeholders. The main contribution of this work is that strategic responds and performance measurement will be based on couples of key performance indicators/key risk indicators to accurately analyse the performance, as well as the understanding of the various opportunities and threats with a view to continuous development.

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“…foods, automobile and automotive parts, electrical and electronics and petrochemical). These requirements were critical for small and medium enterprises where managerial decisions needed to be timely and effective (Tabucanon, 1993; Kasuga et al , 2005; Phusavat and Jaiwong, 2008; Schallenkamp and Smith, 2008).…”

Section: Problem Backgroundmentioning

confidence: 99%

Information requirements for managerial decisions in manufacturing

Phusavat

Kanchana

Lin

2009

Business Process Management Journal

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PurposeThe study is based on the need to improve a management process, especially the linkage between strategies, and performance measurement and analysis. This need concentrates on understanding information requirements in order to ensure high quality of managerial decisions. This study aims to develop an information‐requirement baseline when considering manufacturing and supplier‐selection strategies. The focus of this study is on selecting a supplier to provide transportation services for a manufacturer.Design/methodology/approachThe study collects the opinions given by eight top executives from three high‐performance manufacturers in Thailand. The survey has three parts: strategic objectives for manufacturing operations, supplier‐selection strategies, and possible business performance areas to be impacted. It uses a five‐point scale from 1 (least importance) to 5 (extremely important). The correlation analysis was applied.FindingsThere are altogether eight alignments reflecting positive interrelationships between manufacturing and supplier‐selection strategies. Each alignment indicates performance information needed. For examples, top executives express the need to have information on profitability, customer relation, and quality of work life under the following circumstance – management representing a strategic criterion for supplier selection and quality reflecting a manufacturing strategy.Practical implicationsThe development of this baseline appears to be helpful in prioritizing the agendas of a meeting as well as time and cost for preparing management reports. The management process would be strengthened due to better information that corresponded to strategies.Originality/valueThe study highlights the need to link between information requirements and strategies. This highlight enhances the research in the areas of a management process.

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Formulating the strategy map: case studies on SMEs in Thailand

Cited by 7 publications

References 0 publications

Entrepreneurial orientation and emotional bias in MSMEs’ financing and performance

Entrepreneurial orientation and emotional bias in MSMEs’ financing and performance

The risk-based management control system: a stakeholders' perspective to design management control systems

Information requirements for managerial decisions in manufacturing

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