Business Process Management is an arena of interest for the academicians along with the practitioners.Context is indicative of any kind of information that can be made use of for characterising situation in relation to an entity. Contextual factors are indicative of the time of the performance of the activities, location within which activities are carried out and the culture of a company. The different kinds of contextual factors that can influence an organization are that of strategy, environment, technology and the culture. These factors have an influence on the performance of a company and it affects the revenue that is earned by a company. The impact of the contextual factors like business model innovation, corporate social responsibility, internalization of firm, women’s position and product diversification has an effect on the aspect of organisational performance and their impact has been discussed in this work. These factors affect the decision making of an organization. The categorisation of the contextual factor and understanding of the natures can help the organisations in solving business problems and augment performance of a firm.
The article has talked about business model innovation (BMI)that has attracted a lot of attention in relation to management research in the present age. This article has highlighted that BMI can be labelled as a significant phenomenon that needs theorizing and conceptualization. The firms should be able to align the open business model with that of outcome pertaining to value creation along with value capture. It has become imperative for the firms that depend on the external sources pertaining to resources to take recourse to open system perspective. The sharing economy has become greatly popular in the present age and it can facilitate exchange of the assets that are underutilized among the individuals. The article has elaborated on how the need of facilitating inclusive growth can help in targeting the customers that have low income. This can pave the way for significant business model innovation. The findings reveal that business model innovation can give rise to challenges on the basis of radicalness along with scope. The business model innovation can open significant opportunities for the managers and it can help the managers in creating and capturing value within an organization. BMI that is novel demands more attention of the manager as compared to BMI that have opposite characteristics as it will require intensive search effort on the part of the managers within an organization. The managers in an organization have to perceive the changes that may require the innovation in relation to business model. Authority of implementation of the changes rests with the managers and what is the necessary course of action can prove to be decisive.
This article has thrown light on the benefits that an employee can get by involving themselves in socially responsible behaviour. The article has stated that there is direct relationship inbetween that of leader green behaviour and that of green behaviour of the individual subordiantes within the framework of an organization. The article has elaborated on the social condition that can help in shaping workplace green behaviour within the setting of an organization. The article brings out that the organizations having an impact on the factor of environmental sustainability can have a positive influence on the clients and it can help in increasing the profit of the organization. The article has suggested how the organizations are becoming active to address the social concerns and how they are accountable pertaining to social effects. This article has suggested how everyone from supply chain of company to the customers are increasingly contributing to environmental sustainability. The findings of the article reveal that being responsible towards the customers can have positive effects on the profits made by a company. The services of a company being durable and the fair standard of the advertising makes an organization responsible towards the customers. The article brings out that business can act as a contributor pertaining to employee generation and the social responsibility of the employees extends beyond that of the formal contract pertaining to employment. The findings suggest that the managers in an organisation have to reconcile the economic objectives of a company with the contribution that it makes to the community.
This article has thrown light on the factor of internalization among the entrepreneurial firms that can act as a risk for an organization. In the event of internalization it is necessary that the firms monitor fundamental components pertaining to business risk. There are two kinds of risks that can be faced by a firm- microeconomic and macroeconomic risk. The microeconomic risk can have an influence on the strategic planning in relation to international activity. It can create imbalance at that of the level of a company. The macroeconomic risks are encountered by a firm that proves to be more difficult for the firm to control. The article has highlighted that the difficulty level of a firm is proportional to the stability in relation to the environment within which a company operate. The findings of the article reveal that the financial performance of a firm depends on the efficacy pertaining to the management system in an organization. The findings reveal that risks of a firm cannot be separated from strategic vision in relation to the management. The managers within an organisation should be ready to take on the risks if they want to survive within the environment. The article reveals that it is difficult to accomplish risk management in an organization and it is the responsibility of the managers in an organization to treat the risk in a manner that can transform it to a strength of company. The senior managers of the company should be able to transform any kind of prejudice that is caused by occurrence in relation to an event.
This article has stated that the female representation at that of the senior organization level lags behind that of the male representation. Gender diversity is an important issue throughout the world and it has been in the present age that more women are holding the leadership position. This article has brought out that the policies of company should aim at bridging gender divide and providing more opportunities to the women can help the women to enter workforce. The women in the organization should be motivated of taking up challenging roles from that of the executive level to the position of senior management. The article points out that the identification of the skillset of women is the responsibility of an organization and they should be mentored in the right manner that can help in the process of cultivating leaders. The findings of the article reveal that the women should be involved within the boardroom meeting that can help in consolidating the position of the women in a company. The article points to the crucial fact that learning programmes can play a role in ensuring that women within an organization are provided with grooming that can help in enhancing their skills. The women in such a case would be more ready to take up the leadership role. The findings suggest that managers within an organization should create a flexible atmosphere that can work to the advantage of the female employees in an organization. The senior managers should make efforts that can encourage women to nurture the creative skills of the female employees.
The article discusses the challenges that the firms face increase proportionately with the diversification level of the product. There are different product market that face various socio-political issue. The secondary stakeholders can act as the agents that can help in mitigation of the external constraints that is embedded within the socio-political environment. The article says that it is significant for organizations to maintain relationship with secondary stakeholders that can help in enhancing the financial performance of a firm. This article discusses that in companies that have many divisions managers should be able to shift the capital in between the business units that can help in the creation of internal capital market. The product diversification can help in the creation of general managers that runs a specific division and they can push for product diversification. The discussion of the article revolves around how many firms were able to reach status by taking recourse to the process of diversification. The findings of the article reveal that conglomerate product diversification can help the firms in reducing the risk exposure and it can help in expanding growth opportunities of a company. The findings highlight that high performance was delivered by the firm that were diversified into the core skills along with resources. Related diversification can help in generating more amount of profit instead of diversifying into the sector of unrelated business. The managers in an organisation use the diversification strategy that can help the firm in getting benefits from that of current market with the help of higher return and it can help in minimizing risk.
Conclusion
The aligning of the business model of an organisation with outcome can help in the creation of value of a firm. The firms that depend on the external sources should make use of open system perspective. Sharing economy has gained popularity in modern age and it can lead to exchange of asset within a company. The firms that take cognizance of the factor of environmental sustainability can influence the clients in a positive manner. It can increase the profit that is made by an organization. The organizations becoming active in relation to social concern can make them more accountable to the society. The difficulty that is faced by a firm can be said to being proportional to the factor of stability of environment. The efficiency of management has an impact on financial performance of firm. Women in firms should be equipped of taking up roles that are challenging from executive to that of senior management. The organization should be able to recognize the skillset of the women and their appropriate monitoring can help in the path of cultivation of the leaders. An organization should be capable of maintaining relationship with that of secondary stakeholder that can increase financial performance in relation to a firm.
References:
Cavusgil, S. T., & Knight, G. (2015). The born global firm: An entrepreneurial and capabilities perspective on early and rapid internationalization. Journal of International Business Studies, 46(1), 3-16.https://link.springer.com/article/10.1057/jibs.2014.62
Foss, N. J., & Saebi, T. (2017). Fifteen years of research on business model innovation: How far have we come, and where should we go?. Journal of Management, 43(1), 200-227.https://doi.org/10.1177/0149206316675927
Gould, J., & Sardeshmukh, S. (2017). Tackling gender diversity at senior organisational levels: A road map for women’s advancement. In Academy of Management Proceedings (Vol. 2017, No. 1, p. 13091). Briarcliff Manor, NY 10510: Academy of Management.https://doi.org/10.5465/ambpp.2017.13091abstract
Kim, A., Kim, Y., Han, K., Jackson, S. E., & Ployhart, R. E. (2017). Multilevel influences on voluntary workplace green behavior: Individual differences, leader behavior, and coworker advocacy. Journal of Management, 43(5), 1335-1358.https://doi.org/10.1177/0149206314547386
Su, W., & Tsang, E. W. (2015). Product diversification and financial performance: The moderating role of secondary stakeholders. Academy of Management Journal, 58(4), 1128-1148.https://doi.org/10.5465/amj.2013.0454
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