By Christian Faden
Academic study has pointed out numerous operational drivers in production businesses that experience an impact on both the actual construction of products or its distribution: operating capital standards, production functionality, provide chain functionality and provide chain hazard. although those 4 operational drivers were operationalized in empirical reviews and theoretical discourses, no-one has but performed a holistic learn of the way they interrelate and what particular contribution they make to total company functionality. the major query addressed through this research is as a result how businesses should still align those operational drivers of excellence to accomplish more advantageous enterprise functionality. the implications are in line with a universe of 274 top-class production businesses established in Germany, Switzerland or Austria and greater than 15 interviews with most sensible executives. by way of outcome, a trade-off exists: powerful company functionality calls for an important point of offer chain hazard on the cost of operating capital functionality. businesses that settle for an inexpensive point of provide chain chance whereas holding excessive production and provide chain functionality outperform the lowest-performing reference crew by means of 14% by way of revenues, revenues development, profitability and marketplace proportion ("firm performance").
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Additional resources for Optimizing Firm Performance: Alignment of Operational Success Drivers on the Basis of Empirical Data
25; Chiou/Cheng/Wu (2006), p. 154; García-Teruel/Martínez-Solano (2008), p. 134; Hill/Kelly/Highfield (2010), p. 795. 126 Hill/Kelly/Highfield (2010), p. 795, Chiou/Cheng/Wu (2006), p. 154. 127 Opler/Pinkowitz/Stulz/Williamson (1999), p. 25; García-Teruel/ Martínez-Solano (2008), p. 134. 128 Moss/Stine (1993), p. 30. 129 Opler/Pinkowitz/Stulz/Williamson (1999), p. 25. 130 García-Teruel/Martínez-Solano (2007), p. 592. 131 García-Teruel et al. (2007) include an additional question in their considerations.
Kamath (1989), p. 26. Kamath (1989), p. 28; Eljelly (2004), p. 50; Hutchison/Farris II/Anders (2007), p. 42. 84 Smith/Shortell/Saxberg (1979), p. 669. 85 Venkatraman/Camillus (1984), p. 513. 86 Shortell (1977), p. 275. 87 Venkatraman/Camillus (1984), p. 516. 88 Vorhies/Morgan (2003), p. 111; Drazin/van de Ven (1985), p. 521. 89 Meyer/Tsui/Hinings (1993), p. 1177. 82 83 17 The basic assumption behind contingency models is that the best performance can be achieved when organizational structures match external contingency factors.
The authors therefore conclude that reducing the net trade cycle to a reasonable minimum increases shareholder value – a sound reason for financial executives to focus on this topic. Departing from NTC as the measure of working capital used by Soenen and Shin, a large number of researchers in subsequent years investigated the relationship between CCC and firm performance. To the author's knowledge, a total of seven papers have been published on this subject. Manuel L. Jose, Carol Lancaster and Jerry L.