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Vol.3 No.4
December 2015

 Page Number

 Article Information

1-12

Supplier Partnership Strategy and Global Competitiveness: A Case of Samsung Electronics

Jangwoo Lee, Kapsoo Lee, and Junseok Heo

DOI: 10.15604/ejbm.2015.03.04.001

Abstract

Samsung Group has accelerated its management innovation process, following the announcement of „New Management‟ by the CEO Lee Kun-Hee. Particular attention must be paid to the smart-phone business of Samsung Electronics, which is the core company of the Samsung Group. In 2009, as Apple entered into the Korean market, the domestic smart-phone market faced the so called „Apple Shock‟ due to its choice of a monopolistic and closed operating system. In response, Samsung Electronics introduced the innovative Galaxy series, replacing the old model of Omnia series. This move reaped dramatic success by dominating the world smart-phone market. Samsung Electronics ranked first in the 2012 world smart-phone market, and in 2013 it sold over 300 million devices for the first time in history, thereby solidifying the number one spot with a market share of 32.3%. Samsung Electronics‟ achievement in its management innovation process was successful, due to its internal innovation and its partnership with sub-suppliers. Samsung Electronics strengthened its supplier partnership strategy, which in turn, led to an internalization of subparts assembly and process technology. By conducting the final assembly process on its own, it established the global supply chain that accompanies a high level of efficiency and operational elasticity. Samsung Electronics successfully systemized several hundred suppliers into an effective partnership and created an eco system where cooperation and competition can co-exist in its supply chain network. In sum, Samsung Electronics has successfully created the Samsung Production System that brings an economy of scale and allows prompt response. On the other hand, Apple did not get involved with subparts production, besides design and product design. This research identifies the effectiveness of Samsung Electronics‟ supplier partnerships in its global competitiveness by examining characteristics of supplier partnership strategy and its evolution process of strategy, which plays a vital role in the Samsung Production System. For this purpose, the paper evaluates the importance of supplier partnership strategy of Samsung Electronics in the Samsung Group‟s management innovation process, since the announcement of New Management in 1993. Furthermore, it evaluates how supplier partnership strategy is affected by the CEO‟s ideology and external environments. It discusses the strategic implication of Samsung Electronics for ensuring its continuous global competitiveness.  

Keywords: Supplier Partnership, Management Innovation, Samsung, New Management, Case Study

13-22

Capital Structure and Firm Performance: An Analysis of Manufacturing Firms in Turkey

Abdulkadir Ali Tifow and Ozlem Sayilir

DOI: 10.15604/ejbm.2015.03.04.002

Abstract

Capital structure is one of the most important issues for firms in order to achieve better financial and market performance. The main objective of this study is to examine the relationship between capital structure and firm performance. We investigate 130 manufacturing firms listed on Borsa Istanbul for the period of 2008-2013 using panel data analysis. We utilize short term debt to total asset (STDTA) and long term debt to total asset (LTDTA) as proxies of financial leverage (independent variables). Return on equity (ROE), return on asset (ROA), earnings per share (EPS) and Tobin‟s Q ratio were used as proxies of firm performance (dependent variables). Sales growth rate and firm size were used as control variables in the study. We find that STDA has a significant negative relationship with ROA, EPS and Tobin‟s Q ratio. Besides, we find that LTDTA has a significant negative relationship with ROE, EPS and Tobin‟s Q ratio, while it is positively and significantly correlated with ROA.

Keywords: Capital Structure, Return on Equity, Return on Asset, Earning per Share, Tobin’s Q

23-35

Analysis of the Weekend Effect on the Markets of 121 Equity Indices and 29 Commodities

Krzysztof Borowski

DOI: 10.15604/ejbm.2015.03.04.003

Abstract The problem of efficiency of financial markets, especially the weekend effect has always fascinated scientists. The issue is significant from the point of view of assessing the portfolio management effectiveness and behavioral finance. This paper tests the hypothesis of weekend effects of the market of 121 equity indices and 29 commodities with the following four approaches: Friday close – Monday open, Friday close – Monday close, Friday close – Tuesday open and Friday close – Tuesday close prices. Calculations presented in this paper indicate the presence of the monthly effect in the following cases: 36 (I approach), 58 (II approach), 57 (III approach) and 66 (IV approach).

Keywords: Market Efficiency, Commodity Market, Equity Market, Calendar Anomalies

36-54

The Impact of Knowledge Management on Organizational Performance: An Empirical Study of Kuwait University

Mohammad Q. Ahmad Al-Qarioti

DOI: 10.15604/ejbm.2015.03.04.004

Abstract

Knowledge management (KM) is a process that transforms individual knowledge into organizational institutionalized knowledge. The purpose of this paper is to shed light on KM infrastructure at Kuwait University to see how faculty members evaluate KM influence on organizational performance. Study findings provide insights into the infrastructure and process capabilities needed to provide knowledge support for organizational activities. The study was based on a stratified random sample consists of (355) faculty members from various colleges at Kuwait university. Study results show that faculty members evaluate knowledge management as “very good” with a (3.52) mean score at Likert five point scale, which indicates that Knowledge management components are highly related to organizational performance. Implications, imitations of the study, and recommendations regarding appropriate investments in knowledge management to enhance organizational performance are discussed.

Keywords: Knowledge Management, Information Technology, Organizational Performance, Kuwait University

55-62

Predicting Education Effects on Entrepreneur’s Strategic Choices and Life Quality

Tarja Niemela

DOI: 10.15604/ejbm.2015.03.04.005

Abstract

We demonstrate four models in prediction of the dependencies between entrepreneurs’ education, developmental intentions and perception of quality of life based on survey data (2012, n=460). Entrepreneurs with the higher level of education were more likely to maintain the current production line, plan pluriactive businesses and consider wage income and cooperation more important than others. Similarly, entrepreneurs with lower level of education experienced more often problems to cope with current and future farm work with existing resources. To conclude, spouses’ education seems to influence farm’s choices and quality of life. Implications for human capital theory and entrepreneurship education emerged.

Keywords: Education, Entrepreneurial Intentions, Entrepreneurship, Experience, Human Capital

63-73

The Liability of the Managing Body within the Insolvency Proceedings in Romania: Case-Law Study

Rodica Diana Apan

DOI: 10.15604/ejbm.2015.03.04.006

Abstract

The study aims at identifying the new elements that the Insolvency Code in Romania, Law 85 of 2014, brings in what concerns entailing the liability of the managing body as well as that of other persons having contributed to the debtor’s state of insolvency, compared to the previous regulation provided by Law 85 of 2006. The identification of these elements is carried out by making reference to the types of deeds that, following taken legal action, can entail liability and the coverage of the debts by the members of the managing body as well as by other persons having contributed to the debtor’s state of insolvency. The analysis of the deeds concentrates around two connected centers of interest: The analysis of the deeds such as they are regulated by the two regulations and the case where for certain deeds there need to be identified the elements of repeatability in the two regulations and then the relevant case-law applicable for the respective deed is analyzed. In conclusion, in this way are identified the case-law variations met by the regulations applicable to the respective deed, in the judgments grounded on Law 85 of 2006. These variations represent landmarks for the regulations comprised by the Romanian Insolvency Code – Law 85 of 2014. Following the analyzed legal precedents – a number of 30 case-law judgments issued by courts of appeal being at the highest level of jurisdiction, there are identified in concreto, the type of acts which may entail the liability of the managing body for the insolvency of the enterprise. Through the present study we aim to guide the local administrators, as well as the future foreign investors who engage in foreign direct investments (FDI) in Romania with regard to the liability of the managing body in within the insolvency proceedings.

Keywords: Insolvency, Liability of the Members of the Managing Body, Patrimonial Liability, Types of Deeds, Joint Liability

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