企业最佳现金持有量分析

现金持有决策是企业的一项重要财务决策.现金持有行为不仅反映了企业的财务战略和经营环境,而且与企业运营状况等因素密切相关.文章从现金持有的相关理论及现金持有量的影响因素方面深入分析,综合运用成本分析及存货等模型对企业最佳现金持有量进行测算,以期为企业加强现金管理提供决策支持.     

管理控制系统、战略和人力资源管理创新——基于权变理论的视角

随着现代企业环境不确定性、技术不确定性和任务不确定性的增加,企业越来越关注如何以应变和创新为核心,通过MCS的设计使企业的人力资源与战略目标相拟合。本文基于权变理论,对环境不确定性下影响MCS设计和人力资源管理的一系列权变量进行了构建和剖析,以结构方程模型对战略、管理控制系统和人力资源管理三者之间的关系进行了探索,并提出了战略人力资源管理与MCS设计相拟合的运作思路。     

基于战略视角的财务报表分析

财务报表是企业经营活动的缩影。财务分析主体可根据财务报表分析，深刻认识企业的财务状况和发展趋势，从而做出相关决策。尽管自20世纪80年代以来，企业经营就进入了战略管理时代，战略对企业生存和发展有着决定性影响，但很少有文献将财务分析与企业战略结合起来分析。文章从战略管理角度对财务报表分析进行阐述，认为财务报表是对企业战略的反映，可通过财务报表分析企业战略类型及其成效，从而帮助有关利益主体做出合理决策。     

对实施企业财务战略管理思路的探讨

本文从企业财务战略管理的目标与内容方面阐述了实施财务战略管理的基本思路与措施,意在为企业长期生存和发展做出全局性、整体性、长远性的规划和决策提供参考。     

构建基于战略的财务报表分析体系

有效的财务分析不仅要求分析者要学会运用会计数据，而且要善于运用非会计数据，结合财务报表的分析框架和战略分析的主要方法，对企业进行基于战略的财务分析，在科学的预测基础上为企业未来的发展指出方向，为决策者提供决策支持。     

企业战略与资本结构研究综述

企业战略有助于理解管理者如何进行债务与权益筹资决策,创新型企业更倾向于通过权益筹资来保持较高的财务弹性,财务弹性对于追求以创新为基础的竞争战略的企业来说是一个关键性战略。     

企业财务战略

日趋激烈的竞争环境要求企业以长远发展的视角制定公司财务战略.财务战略的概念涉及战略、企业战略、财务管理等,西方通常将财务战略论述为财务决策时要引入战备性思维,或考虑战略因素的影响.本文作者通过对财务战略的分析阐述、分析与读者共同探讨金融危机下的企业财务战略.     

战略视角决策框架研究:基于竞争战略和蓝海战略的整合分析

战略视角决策是战略制定和战略实施的隐含前提。战略视角包括以竞争战略为代表的结构主义战略视角和以蓝海战略为代表的重构主义战略视角。从挖掘理论本质出发,对比分析了两种战略视角的内涵和特点,采用理论演绎方法,揭示了两种战略视角整合情况下的产业内企业数量与行业平均利润间的长期关系、短期关系以及调整过程,基于演绎分析归纳了影响战略视角决策的3个关键因素,并提出了战略视角决策框架,为企业做出正确的战略视角决策提供了一定的理论支持。     

基于环境互动的企业家战略领导能力与决策机制研究——一个新的战略绩效整合模型

战略领导能力是企业家的核心能力,是企业获得持续竞争优势的基础,企业决策机制是将企业家战略领导能力转为企业竞争优势的重要中介。探讨了企业家战略领导能力、决策机制以及企业绩效的内涵及测量问题,分析了三者的关系。提出了决策机制是企业家战略领导能力与企业绩效的中介变量,同时将环境因素作为控制变量,并初步构建了企业家战略领导能力与企业绩效理论关系模型,并对今后的研究进行了展望。     

对现代企业财务战略的探讨

财务战略是为谋求企业资金均衡有效的流动和实现企业战略，为增强企业财务竞争优势。在分析企业内、外环境因素对资金流动影响的基础上，对企业资金流动进行全局性、长期性和创造性的策划。“战略”一词源于军事领域，但随着人类社会的发展，“战略”一词涵义已远远超出了军事领域，诸如经济发展战略、外交战略、科技发展战略、管理战略等名词或术语已被许多人耳熟能详，但“财务战略”也许不被人们所熟悉，甚至还有一定的陌生感。但这并不说明财务战略不重要，相反，研究企业财务战略对于企业在新的经济形势下搞好财务管理工作具有重要意义。     

Caveat innovator: Strategic and structural characteristics of new product introductions

The assumptions underlying models of strategic behavior by incumbents are evaluated using a case study of a ground coffee product introduction. The assumption underlying earlier strategic models, that the entrant does not know the incumbent's payoffs after strategic have been tested, does not appear to apply. Instead, strategic behavior is observed to hinge on ex ante uncertainty about the structure of the payoff matrix and the incremental decision making which this uncertainty spawns. In this environment, strategies which create noise can slow learning and delay entry.     

战略行为视角的战略风险形成机理探析

战略的核心是建立企业与环境的匹配关系,而企业与环境的匹配不会自动产生,它是战略行为的结果,是一种主动或被动选择的结果.本文指出企业与环境之间的匹配是一种欲达到的结果状态或目标状态,而导致结果能否出现,主要受战略行为的影响,包括战略的主动行为、被动行为或不作为.战略风险的形成是由于战略行为未能有效保持企业与环境的匹配而使战略目标偏离于预期.战略行为受外部环境和内部条件的影响,未能将战略、资源、能力与环境的匹配失衡降低在组织承受的范围内,使战略目标偏离于预期,影响战略目标的实现,是战略风险形成的内在机理.战略行为包括战略决策行为和战略实施行为,本文重点分析了战略决策行为和战略实施行为中战略决策风险和战略实施风险形成的内在成因.     

基于因果映射分析的高管战略逻辑研究

企业家的战略逻辑是企业家对外部知识进行感知和运用的复杂过程,它会对企业的战略方向产生直接影响。在不确定性增大、信息不完全的市场中,管理者如何对外部环境进行解读,对资源优化做出决策就显得非常重要。随着外部超竞争环境的不断加剧,管理者唯一的选择就是适时调整战略逻辑。因此,战略因果逻辑理论越来越受到理论学者和企业高层的重视。本文主要从内容分析法入手对管理者战略逻辑的转移做出一定分析和解释,并对高管认知的未来研究方向进行了展望。本文通过因果映射图来分析管理者的战略变革选择过程,发现高管的战略逻辑方向在外部环境影响下会随之产生变化。     

不确定环境下的企业战略设计模式

本文通过对传统企业战略设计模式的再思考 ,并从企业战略设计的实际情况出发提出 :当企业面对不确定环境时 ,战略思维方式应该从线性向非线性转变 ,从而提高企业战略在不确定环境下的“预见”力和应变能力。本文建立了一个基于战略转换的战略形成、实施同步并行的企业战略设计模式 ,来达到在复杂、不确定的环境中获取持续竞争优势的目的。     

On e-business strategy planning and performance: a comparative study of the UK and Greece

In this research study the effect of Financial and Non-Financial performance of organisations on e-business strategy planning is investigated. The strategic planning parameters of Phillips model are examined when applied to e-business strategy planning. The relationships between these parameters, that is, Formality, Participation, Sophistication and Thoroughness, and Financial and Non-Financial Performance, are examined and the directions of these relationships are investigated. A conceptual model has been constructed and quantitative research methods are used to test four hypotheses. The proposed e-business model was tested in two EU countries, the UK and Greece. A synoptic statistical analysis and comparative numerical results are given showing that in both countries Participation has a positive relationship with Financial Performance and Formality has a positive relationship with Non-Financial Performance. The proposed model is extendable and valid in countries other than the UK and Greece, thus being able to be adapted to and used in other national environments.     

Robustness to strategic uncertainty

We introduce a criterion for robustness to strategic uncertainty in games with continuum strategy sets. We model a player's uncertainty about another player's strategy as an atomless probability distribution over that player's strategy set. We call a strategy profile robust to strategic uncertainty if it is the limit, as uncertainty vanishes, of some sequence of strategy profiles in which every player's strategy is optimal under his or her uncertainty about the others. When payoff functions are continuous we show that our criterion is a refinement of Nash equilibrium and we also give sufficient conditions for existence of a robust strategy profile. In addition, we apply the criterion to Bertrand games with convex costs, a class of games with discontinuous payoff functions and a continuum of Nash equilibria. We show that it then selects a unique Nash equilibrium, in agreement with some recent experimental findings.     

The Role of Capacity Management in Manufacturing Strategy: Experiences from the Australian Wine Industry

There has been little research focused on identifying the position and role of capacity management in strategic manufacturing decision making. This research presents the findings of a major investigation into strategic capacity management in the Australian wine industry. The research found that advanced processing technology is being used as part of a strategy for increasing capacity in this industry. It was also found that supply dependability and product cost/price were the most important competitive priorities for wine production, after product quality. All three of these were found to be directly influenced by the level of capacity management. The importance of capacity management varied, depending on the category of wine producer (32 different categories were identified). It was also determined that the strategic position of capacity management in the manufacturing decision making process is linked to production planning and control, quality control and assurance and plant and equipment.     

企业理性战略决策影响因素的实证分析

本研究基于面向342位中国企业管理者的问卷调查,经由统计分析发现:企业高层管理者有着单一主导决策风格,其中概念型风格显著正向影响战略决策理性,指令型风格显著负向影响战略决策理性;企业高管对经营环境有着高不确定性认知,显著正向战略决策理性;我国企业文化整体上呈现为效率型,但强正向影响战略决策理性的企业文化弹性特征有待提高。     

The hidden value of air transportation infrastructure

Air transportation is a key strategic asset in that it provides access to markets and thereby enables the economic development of nations. Thus, in order to maintain their competitiveness in a global economy, countries must invest in air transportation infrastructure to ensure their ability to meet current and future demand for aviation services. The objective of this paper is to develop and illustrate a methodology for evaluating the strategic value of air transportation infrastructure, in particular the benefits associated with the ability to react quickly to changes in the market. The hypothesis is that by recognizing and taking advantage of this strategic value, it may be possible to design better policies for aviation infrastructure delivery.The methodology developed here uses system dynamics to model different strategies for infrastructure delivery. These strategies are defined by three variables: the amount of capacity increase, the time to deliver the capacity and the congestion threshold that triggers the need for capacity delivery. Monte Carlo simulation is used to take into account multiple sources of uncertainty. The model shows that a strategy of capacity delivery based on small increments and short response times can yield more benefits than strategies that consider large capacity increases and long response times. Furthermore, in the specific airport example considered here, it was found that a congestion threshold of 75% should be the trigger for capacity enlargements if strategies based on small capacity increments and 1 or 5 years to increase capacity are considered. The lesson for decision-makers is that congestion delays must be addressed with foresight.     

Environmental uncertainty,foresight and strategic decision making: An integrated study

This paper explores how the foresight practices and techniques that might be used for coping with environmental uncertainty are coordinated throughout large corporations and how their results are used for supporting strategic decision making. Based on an in-depth and multiple study of several companies, we analyse the main characteristics of environmental uncertainty - complexity and dynamism - that shape companies’ approaches to strategic foresight and uncertainty management. We explore the impact of growing complexity and dynamism on these approaches and the role of prediction and control in their design and implementation. We outline a conceptual framework for strategic foresight activities - and their relationships with decision making under uncertainty - as a planned learning process about the future which enables managers not to know opportunities and threats in advance, but to detect them more promptly and to react more effectively as soon as they start emerging.