客户战略管理过程探析

在客户需求和市场环境不断变化的情况下,企业要想保留优质的客户资源,并维持较高的客户忠诚度,必须用长远的眼光,对客户管理进行全局性的筹划,即将客户管理上升到战略高度。本文首先对客户战略管理的内涵进行了界定;其次构建了客户战略管理过程模型;再次以模型为基础,系统阐述了企业实施战略性客户管理的思路、步骤和关键点。     

青海大正会计师事务所竞争战略的研究

本文选取青海大正会计师事务所为研究对象,对大正会计师事务所的宏观环境、行业环境、经营环境和竞争优势环境及内部资源能力进行了分析,重点从大正会计师事务所合理优化股权结构、积极拓展新兴业务、注重人力资源的规划、培养与激励、打造良好的品牌形象、加强事务所文化建设和注重市场营销等维度探讨了其基本竞争战略的实施。     

我国企业的战略管理问题研究

进入21世纪后,我国经济进入了一个新的发展阶段,作为经济的微观主体的企业也进入了一个竞争更加激烈的市场.但许多的管理理念还停留在以前的经验管理中,跟不上时代的发展,从而导致企业不能长远的可持续发展.本文主要从企业战略管理的角度来思考我国企业的发展问题.     

企业竞争战略分析

企业竞争战略考虑的是如何在所选定的领域内开展业务,展开有效的竞争并且建立相对的优势。本文对三种一般性竞争战略进行分析,指出它们各自的含义及以优缺点,便于企业选择各自的竞争战略,形成竞争优势。     

企业财务战略的制定

公司的决策要以财务为基础,财务战略对企业的长期发展具有重大意义,制定适应企业自身发展的财务战略成为企业发展的重中之重。财务战略的制定首先要以财务环境分析为基础。在此基础上,进而分析企业所处的生命周期阶段,分别从筹资战略、投资战略、分配战略、税收筹划战略,对初创期、成长期、成熟期、衰退期的企业进行分析,制定适合其发展的财务战略。     

企业财务战略边界

我们知道,财务战略的核心立足点是支撑企业战略落地的资金运动的动态平衡。财务战略以企业一定时期所处的发展阶段、资源条件、经营能力、内外环境等战略协同下资金动态平衡客观范围所及所能提供的"支撑",借用黑洞边界"事件视界",姑且称为"财务战略边界"。财务战略边界是财务战略风险可能引致企业战略失败的最大势力范围。企业战略再宏大,离开或突破了财务战略的客观势力范围,必然触发财务风险的资金红线,而引发企业战略失败的风险。     

透析企业案例中的战略管理艺术

本文介绍了战略管理的含义、特点,并结合海尔、IBM和华为三个经典企业案例,从战略定位、战略选择、战略实施等方面对战略管理的艺术进行阐述。     

大型煤炭企业战略转型研究

近年来,由于煤炭产业结构单一,导致的资源浪费严重、矿区环境恶化等现象愈演愈烈,大型煤炭企业生产经营面临严峻形势。本文通过对我国大型煤炭企业战略环境研究,最后制定出构建"生态工业链网"战略体系,实现"黑色产业,绿色转型",为煤炭企业的长远健康发展提出了建设性意见。     

Strategy transition and marketing innovation of a vertical search engine: The case of Kuxun company

Kuxun is an online travel search company in China. This paper describes the transition and innovation of the company’s marketing strategy, from comprehensive information search to online travel search. It shows how Kuxun has successfully achieved strategic market transition from “all-round” to “specialized” through efficient market segmenting, targeting, and positioning (STP). The case also illustrates how Kuxun has become the top brand of Chinese online travel search by carrying out various types of innovative network marketing, including interactive experience marketing, precision marketing, and cooperative marketing.     

Top management team heterogeneity and firm performance: An empirical research on Chinese listed companies

An empirical study of the 2001–2002 data from 356 Chinese companies listed in the Shanghai and Shenzhen stock exchanges indicates that within the social context of China the characteristics of a firm’s top management team have a different impact on firm performance from those of foreign countries. Also, the tenure heterogeneity and functional experience heterogeneity of the top management team are inversely related to firm performance. This paper analyzes and discusses the findings in detail and points out areas for future research. Translated from Guanli Pinglun 맜理评论 (Management Review), 2006, 18 (5): 54–60     

An evaluation of corporate governance evaluation, governance index (CGI NK ) and performance: Evidence from Chinese listed companies in 2003

In the present paper, based on samples of 2003, empirical analyses of Corporate Governance Index (CGI ^NK ) and its six dimensions of listed companies in China, the index of controlling shareholders’ behaviors, board governance index, top management governance index, information disclosure index, stakeholders’ governance index, and supervisors committee governance index, are carried out and the results show that CGI ^NK is positively associated with the return on assets (ROA), net assets per share (NAPS), earnings per share (EPS), operating cash flow per share (OCFPS), total assets turnover (TAV), rate of total assets growth (ITA) and Z-score. These indicate that good corporate governance mechanisms improve profitability, stock expansion ability, operating efficiency, growth and development potential, as well as financial flexibility and safety of listed companies. Corporate governance mechanisms of controlling shareholders, board of directors, top management, information disclosure, stakeholders and supervisors committee are largely responsible for decision-making and decision-execution mechanisms, and furthermore, they have direct and profound effects on the performance and value of listed companies. Translated from Zhongguo Gongye Jingji 中国工业经济 (China Industrial Economy), 2006, (4): 98–107     

组织内信任对任务绩效的影响效应

We studies the relationship between organizational trust and work performance through questionnaire method. By establishing six nested models and two non-nested models and comparing them with the hypotheses model, we find that an employee’s trust in his/her immediate superior, co-workers, and the top manager all exert positive influences upon his/her work performance and these influences are independent and supplementary to one another. We also discuss the complex effects of an individual’s perception of different organizational members upon their behaviors. It is found that the influence of an employee’s trust in top manager upon individuals’ job performance is partially mediated by his/her trust in immediate superiors. __________ Translated from Xinli Xuebao 心理学报 (Acta Psychological Sinica), 2006, 38(5): 770–777     

民营企业的政治资源与民营企业多元化投资——以中国民营企业500强为例

This paper argues that the political resources owned by Chinese private enterprises affect their diversification strategy under the context of China’s transitional economy. Based on the sample of top 500 private enterprises in 2004 in China, we find the following empirical evidence: First, political resources owned by private enterprises are positively and significantly related to their degree of diversification. Second, the possibility for private enterprises to diversify their business by entering industries under government regulation is positively related to their political resources. Third, the possibility of related diversification for private enterprise is negatively related to its political resources. Translated and revised from Zhongguo Gongye Jingji 中国工业经济 (China Industrial Economy ), 2008, (4): 5–14     

Why TNCs try to make their subsidiaries sole proprietorship enterprises in China?

A review on the evolution of the Transnational Corporations’ (TNCs) equity ownership structure in their subsidiaries in recent 20 years reveals an increasingly clear preference for sole proprietorship. Based on results of the prior researches, this paper presented a two-stage evolutionary model to explain the underlying reasons of the tendency in China. It is shown that the TNCs’ strategic choice for their subsidiaries’ equity ownership structure is a decision-making process and result, which makes the parent company, as the principal part, based on the current business strategies of the parent company (local or global integration) at the premise of the investment environment of host country, pursue possibly unproductive receipts by choosing or changing the structure of the equity ownership. Translated from Guangli Shijie 管理世界 (Business World), 2003, (1): 57–62     

中国上市公司现金流管理研究——兼对中美市场现金流管理行为比较研究

This paper examines cash flow management in the Chinese market and compares it to that in the U.S. market. It adopts Burgstahler and Dichev (1997) and Degeorge et al.’s (1999) method and the best-fitted distribution model to analyze the financial data of Chinese listed firms during 1998–2005 and the forecasted cash flow per share (CPS) data for Chinese firms in the I/B/E/S database during 1993–2005. Results reveal that cash flows reports are not as reliable as people think, and managers manipulate cash flows just as they manipulate earnings. Further analyses show that zero point, last year’s cash flow and analyst cash flow forecast are the three thresholds that influence managers’ decision when they report cash flow performance. Over 16% of the firms with small positive cash flows manipulate their cash flow. Moreover, 16.64% of the firms with small changes in cash flow and 9.81% of the firms with small surprises manipulate cash flows to reach the targets. A comparative analysis shows that cash flow management behaviors around zero and zero changes are more prevalent in the Chinese market than in the U.S. market. Cash flow management around analyst cash flow forecasts, however, is no more prevalent than that in the U.S. market. Translated and revised from Zhongguo Kuaiji Pinglun 中国会计评论 (China Accounting Review), 2007, 5(3): 381–400     

管理者过度自信与企业投资行为异化——来自我国证券市场的证据

Based on data of A-shares listed companies in China, this paper studies the relationship between managerial overconfidence and firms’ overinvestment behaviors. We first define a manager as an overconfident one if his or her compan’s announced earnings forecast is higher than its actual earnings at least once in 2002–2004. After controlling such factors as growing opportunity, size, etc., we find that overconfident managers tend to over-invest and their overinvestment behaviors have higher sensitivity to cash flow generated by financing activities. In other word, when their firms obtain an abundant cash flow from financing activities, overconfident managers will over-invest, or vise versa. Contrary to other relevant studies, we find that the sensitivity between over-investment and free cash flow has little to do with managerial overconfidence. Robustness testing is conducted to verify the reliability of our conclusions. We also use “whether top managers increase their holdings of company shares within the observation period” as a substitute variable for managerial overconfidence and run the tests again, and the results are consistent with the above. Finally, findings of this paper indicate that it is necessary for firms to establish a scientific and rigorous investment managing mechanism. Translated and revised from Nankai Guanli Pinglun 南开管理评论 (Nankai Business Review), 2008, (2): 77–83     

An Essay on the Origins of Entrepreneurial Opportunity

In this article, we apply a process of logical inference to draw conclusions about the origins of entrepreneurial opportunity from existing conversations in the field of strategic management. We equate the execution of a competitive strategy – as described in the strategic management literature – to the exploitation of an entrepreneurial opportunity – as described in the entrepreneurship literature. Given this assumption, we survey five extant theories of strategy in an attempt to categorize and describe the circumstances that define how and with what consequence entrepreneurial opportunity exploitation results in future opportunity. Given this review, we characterize the `outcomes’ of strategy execution as a function of the ‹match’ between strategy and environment in an effort to extend and refine Holcombe’s [Holcombe, Randall, 2003, Review of Austrian Economics 16(1), 25–43] position that entrepreneurial opportunity is born of prior entrepreneurial action.

‘Let your hook always be cast; in the pool where you least expect it, there will be a fish.’ Ovid, A.D. 17

     

Profitability analysis of Chinese listed firms: 1992–2004

This research collects and analyses the profitability data of Chinese listed companies from 1992 to 2004. Results show that, on average, the profitability of Chinese listed companies has declined over the period. Post-IPO earnings also exhibit a downward trend. A further analysis reveals that changes in listed firms’ profitability ratio follow a strong mean reversion pattern. Translated and revised from Zhongguo Kuaiji Pinglun 中国会计评论 (China Accounting Review), 2007, 5(2): 165–180