我国企业战略执行力问题探讨

战略执行力是执行企业既定战略并实现战略目标的能力,其强弱决定着企业的成败。分析了我国企业战略执行力的现状及其成因,在此基础上提出了提升我国战略执行力的途径。     

Rethinking ‘Top‐Down’ and ‘Bottom‐Up’ Roles of Top and Middle Managers in Organizational Change: Implications for Employee Support

In this study we integrate insights from ‘top‐down’ and ‘bottom‐up’ traditions in organizational change research to understand employees’ varying dispositions to support change. We distinguish between change initiation and change execution roles and identify four possible role configurations in which top managers (TMs) and middle managers (MMs) can feature in change. We contend that both TMs and MMs can play change initiation and/or change execution roles, TMs and MMs have different strengths and limitations for taking on different change roles, and their relative strengths and limitations are compounded or attenuated based on the specific configuration of change roles. We subsequently hypothesize employee support for change in relation to different TM‐MM change role configurations. Our findings show that change initiated by TMs does not engender above‐average level of employee support. However, change initiated by MMs engenders above‐average level of employee support, and even more so, if TMs handle the change execution.     

Why Do Traders Split Orders?

We examine factors that influence decisions by U.S. equity traders to execute a string of orders, in the same stock, in the same direction, around the same time. Order splitting is more likely to occur when traders submit larger‐size orders and when market depth and trading activity are lower. Order splitters demand liquidity more and pay higher trading costs, but their overall performance is better. When controlling for execution time, split orders are more informative than single orders. Our results suggest that order splitting arises from a variety of factors, including informational differences, order and trader characteristics, and market conditions.     

Optimal execution with uncertain order fills in Almgren–Chriss framework

The classical price impact model of Almgren and Chriss is extended to incorporate the uncertainty of order fills. The extended model can be recast as alternatives to uncertain impact models and stochastic liquidity models. Optimal strategies are determined by maximizing the expected final profit and loss (P&L) and various P&L-risk tradeoffs including utility maximization. Closed form expressions for optimal strategies are obtained in linear cases. The results suggest a type of adaptive volume weighted average price, adaptive percentage of volume and adaptive Almgren–Chriss strategies. VWAP and classical Almgren–Chriss strategies are recovered as limiting cases with a different characteristic time scale of liquidation for the latter.     

Risk aversion and the dynamics of optimal liquidation strategies in illiquid markets

We consider the infinite-horizon optimal portfolio liquidation problem for a von Neumann–Morgenstern investor in the liquidity model of Almgren (Appl. Math. Finance 10:1–18, 2003). Using a stochastic control approach, we characterize the value function and the optimal strategy as classical solutions of nonlinear parabolic partial differential equations. We furthermore analyze the sensitivities of the value function and the optimal strategy with respect to the various model parameters. In particular, we find that the optimal strategy is aggressive or passive in-the-money, respectively, if and only if the utility function displays increasing or decreasing risk aversion. Surprisingly, only few further monotonicity relations exist with respect to the other parameters. We point out in particular that the speed by which the remaining asset position is sold can be decreasing in the size of the position but increasing in the liquidity price impact.      

战略中心型组织理论探析——谈保险公司组织结构调整

当前保险公司推进结构转型,不仅是收入结构转型,同时也是公司服务体系和经管体系层面的战略转型。国际学术界和大型企业集团经过多年探索,提出战略中心型组织的解决思路,强调通过战略集中管控,保障各经营单元在有序的战略架构下实现战略转型。它不仅解决了公司横向部门之间的协调问题,而且为纵向经营提供了协调通道。对于提高保险公司的战略执行力和市场适应的能力无疑具有较大的意义。在大型企业探索的过程中,形成了两种既有联系又有区别的战略管理办公室模式,不同的保险公司可以根据自身特点,选择合适的模式,择机推进。     

中美DSB争端案件考察(2001~2012)

从申诉方、应诉方以及第三方等角度考察中美DSB争端案件,可以发现"美攻中守"的态势。在"规则导向"的WTO争端解决机制内,中国完全可以利用其特点,以更加积极的态度解决中美争端、缓解美国对中国的压力。应诉时注意加强证据的准备工作,执行DSB裁决时从实用角度出发并且构建相应的协调机制,同时也要结合世情和国情重新定位中国国际经济法学。     

提升现场管理执行力的动态人员配置模型研究

面临成为"世界工厂"的机遇和挑战.中国企业只有牢牢树立"现场即市场"的观念,构建强有力的现场管理执行力,才能抢占先机,在激烈的市场竞争中立于不败之地.鉴于此,文章介绍了一种动态的现场人员配置模型,旨在通过现场人员配置的不断优化,达到提升现场管理执行力的目的.     

基于AHP的保险企业执行力模糊综合评价

保险企业执行力是一个完整的能力与动力组合系统。由于保险业的特殊性,使得保险企业执行不力的问题比一般企业更为突出。根据保险企业执行力的影响因素,可以建立保险企业执行力评价指标体系,并采用AHP与模糊评价相结合的方法对保险企业执行力进行模糊综合评价。各保险企业可以从评价结果中找出自身执行力的薄弱环节并加以改进,以提升企业执行力。     

核电工程设备供应合同执行管理的研究与应用——点价值系统

本文对核电工程设备供应合同执行管理全周期的工作内容进行分析、归纳和总结,将合同执行管理工作划分为5个业务模块、26个作业单元、92个典型活动和489个标准动作;在此基础上,根据已有工程经验,确定了每个标准动作的基准点价值,通过逐级累加和系数修正,得到不同采购包在不同阶段及整个项目的合同执行管理点价值数,进而计算出在建核电工程已发生合同执行管理人力成本;同时,根据赢得值分析合同执行的状态,计算各种监控指标,提高合同执行进度和成本的计划性、预见性和规范性。