Jennifer L Harrison

The role of strategic planning in the performance of small professional service firms: a research note

Using a sample of small, regional professional service firms, this paper investigates relationships between firm performance and aspects of strategic planning. Constructs measuring vision, mission, latent abilities, competitor orientation and market orientation are identified using exploratory factor analysis and respondents categorised as non‐planners, informal planners, formal planners and sophisticated planners. Multiple performance measures were used to assess the relationship between these factors and categories and firm performance. While no significant relationship between the performance measures and factors is identified, a significant relationship between net profit and informal planning emerges. These mixed results bring into question the value of the classical strategic planning process as a means of achieving a sustainable competitive advantage in the market analysed.

Measuring Service Quality in a Corporatised Public Sector Environment

ABSTRACT Using a modified SERVQUAL scale, this paper measures perceived service quality in a corporatised public sector environment. Five factors were identified: personalised proficiency, empathic professionalism, reliability, tangibles and access; explaining 61% of overall variance. Further analysis using multiple regression also indicated that 45% of the variability in customer satisfaction and 43% of the variability in overall service quality was explained by the five factors. The research was conducted in response to calls for the application of this measure and following a review of extant literature that indicated the limited number of studies undertaken within the public sector that assessed service quality.

Carbon markets in times of VUCA: a weak-form efficiency investigation of the phase II EU ETS

We examine the weak-form efficiency status of the European carbon market over periods of sustained volatility, uncertainty, complexity and ambiguity. We use 1,035 daily spot price data observations from the Phase II European Union Emissions Trading Scheme from 2008 to 2012, along with random walk and trading rule profitability tests. To establish the evolution of weak-form efficiency, the time period under investigation is further divided into two distinct crisis periods, i.e. global financial crisis (GFC) period and European sovereign debt crisis (ESDC) period. Period 1 random walk test findings provide limited support for price return predictability in the European carbon market during the GFC. Period 2 results show that price return predictabilities became non-existent during the ESDC. Trading rule profitability findings reveal that after applying simple trading rules (that account for risk and transaction costs), price return predictabilities cannot be manipulated to profit above a naive buy-and-hold strategy in the European carbon market. Despite ongoing market volatility, economic uncertainty and complexity, and global climate change policy ambiguity, it appears that the EU ETS is becoming more weak-form efficient.

Operationalising Vision and Mission

This paper discusses an exploratory investigation into vision and mission, the starting points of the classical strategic planning process (Ginter, Rucks and Duncan 1985). Constructs measuring vision and mission are identified, as well as three other items that are frequently cited in the literature as being critical for effective formulation and implementation of vision and mission statements (latent abilities, market focus and competitor focus). It is argued that clearer definitions of these constructs and others discussed in strategic literature are a necessary step to allow empirical investigation into the interactions inherent in the strategic process.

The Use of Temporary Skilled Migration in Australian Organisations

Purpose – The spread of economic global integration in the last 50 years has resulted in the recent emergence of global labour markets. Ageing populations and skill shortages have placed significant pressure upon Australias economic sustainability and survival in a global economy. The global race for talent has seen the emergence of skilled migration as a key element in Australias strategy to address major human capital trends and issues and to source pools of talent considered highly skilled or in demand. This paper seeks to address these issues.Design/methodology/approach – This paper draws together research on skilled migration in the Australian context and the factors that explain use of Australias 457 visa scheme by organisations for attracting and recruiting talent. Data from a survey of members of the Australian Human Resources Institute (n=1,045) is analysed using logistic regression.Findings – The results show that larger, goods producing, organisations with skills shortages are more likely to...

Perceived environmental uncertainty's effect on commitment in business‐to‐business channels

Purpose – The purpose of this paper is to test the null hypothesis that there is no significant association between perceived environmental uncertainty (PEU) and a three component conceptualisation of commitment.Design/methodology/approach – Data were collected from owner/managers of community pharmacy businesses in New South Wales, Australia, with 268 responses analysed by confirmatory factor analysis to test a measurement model for each construct and a structural model to test the papers hypothesis.Findings – The hypothesis was partially supported with results indicating that greater PEU is associated with lower instrumental and normative commitment. The association with affective commitment was more complex. No direct association with PEU was evident, however a standardised indirect effect was identified.Research limitations/implications – The primary theoretical implications are that commitment in business‐to‐business channels is evidently affected by PEU, suggesting in part that PEU is likely to hav...

Consumer insights and the importance of competitiveness factors for mature and developing destinations

ABSTRACT This article aims to understand the importance of various destination attributes to the competitiveness of tourism destinations from a consumer perspective, while at the same time contrasting these in a mature versus developing destination. A sample of Australian-based domestic tourists were surveyed to assess the relative importance of tourism destination competitiveness (TDC) attributes in the context of developing and mature destinations. This research firstly appears to verify that the importance of many TDC elements, highlighted by consumers, is not dissimilar from other stakeholder-based TDC studies. Furthermore, this research effort established that in terms of attribute performance, relative destination immaturity may well constrain a developing destination’s ability to satisfy the needs of consumers.

Investability of the European Union emissions trading scheme: an empirical investigation under economic uncertainty

This paper explores investment characteristics of the European Union Emissions Trading Scheme (EU ETS) during the Global Financial Crisis (GFC). We show that the EU ETS demonstrates significant price volatility, risk-adjusted return under-performance and positive correlations with international equity markets during the GFC, while an OLS regression reveals that carbon market returns are only statistically linked to European equity market returns (both lagged and unlagged). The poor investment performance of carbon assets, interpreted alongside our additional findings and the context of the EU ETS, indicates that during financial crises impacting on developed economies, investors in such economies may need to avoid buy-and-hold strategies and reduce portfolio weightings. Moreover, these investors may need to consider diversifying their portfolio holdings until there is an improvement in economic conditions and/or greater certainty with global climate change policy.

A comparison of market entry strategies adopted by Information and Communication Technology (ICT) firms from major and emerging software exporting nations

This study examines the market entry practices of Australian and Pakistani Information and Communication Technology (ICT) firms and the proposition that Local Software Economy (LSE) maturity affects the selection of market entry practices. The question is significant as it is focused on an indirect effect – namely LSE maturity – on the adoption of market entry practices, with indirect effects being identified in recent literature as being significant and an area in need of further research. The findings provide support for the proposition, indicating that Australian and Pakistani firms, representative of firms operating in high and low maturity LSEs, respectively, adopt a range of different practices relating to international engagement, geographic focus, market entry strategies and international market offering.

So what do I get and why do I need it? understanding why small firms commit to suppliers

Abstract A group of small retailers in highly integrated relationships with their major supplier are found to outperform competitors who operate more independently, to be more committed to their supplier and to be more prepared to invest in the relationship. In this paper, the benefits delivered through these integrated relationships are characterised as service, cost, flexibility and image benefits, which are in turn shown to ostensibly embody resources, capabilities and competencies that strengthen competitiveness. This classification of benefit typologies is novel and the results provide the first empirical evidence that the transfer of benefits through business-to-business relationships can positively affect small firm performance, commitment and relationship investments. No significant difference in trust was identified between small firms engaged in integrated and more independent relationships.