Exploring Enterprise Life Cycle: Differences in Informal and Formal Institutional Measures of Business Ethics Implementation

Since science recognizes the fact that an enterprise passes through different life cycle stages, and that life cycle stages differ in terms of management systems, formal structures, control systems, documentation of transactions, and number of procedural hurdles, our main research problem was focused on differences in informal and formal institutional measures of business ethics implementation. The case study research methodology was applied to explore the differences of informal and formal institutional measures of business ethics implementation at different stages of enterprise life cycle. The pre-designed questionnaire was used in conducting face-to-face interviews with 40 managers who were in most cases also owners of the studied enterprises.

INTEGRALNI PRISTUP KULTURI PODUZETNIŠTVA KAO JEDNOM OD KLJUČNIH FAKTORA USPJEHA U PODUZETNIŠTVU

Enterprise culture is judged by many acknowledged scientists and researchers now as a major determinant of any enterprise’s success. The present article shows the research cognitions on the impact of enterprise culture to the success of the enterprises observed. It investigates the impact of customer and employee oriented enterprise culture on market and financial performance of the enterprise. Results suggest that enterprises, which are more customer (externally) oriented, show better market performance as well as better financial performance. The cognitions also show that more employee (internally) oriented enterprises, show positive impact to their market as well as to their financial performance.Mnogi priznati znanstvenici i istraživači smatraju kulturu poduzetništva jednom od osnovnih odrednica poduzetničkog uspjeha. Ovaj članak pokazuje rezultate istraživanja o utjecaju kulture poduzetništva na uspjeh promatranih poduzeća. Istražuje poduzetničku kulturu usmjerenu na klijenta i zaposlenika te njen utjecaj na tržište i financijsku performansu poduzeća. Rezultati ukazuju na to da poduzeća koja su usmjerenija na klijenta (eksterno), pokazuju bolje tržišne kao i financijske performanse. Rezultati također pokazuju da poduzeća orijentiranija na zaposlenike (interno) pokazuju pozitivan utjecaj na tržište i na vlastite financijske performanse

Istraživanje veze između internog marketinga u hotelu i različitih dimenzija angažmana zaposlenika

Purpose – In the hotel industry, as in all services, the goal is to have satisfied employees who are engaged in their job. From a marketing perspective, one of the possible ways companies can achieve that is by adopting internal marketing practices. Hence, the purpose of this paper is to research the relationship between internal marketing and different dimensions of employee engagement (emotional, cognitive and physical) in the hotel industry. Design/Methodology/Approach – The data was collected through a paper-and-pencil questionnaire on a sample of 573 hotel employees in Croatia. Adapted scales from previous research were used for measuring research constructs using the back-translation technique. Conceptual model and hypotheses were tested with covariance based structural equation modelling. Findings and implications – The results show that internal marketing had a positive and statistically significant impact on emotional and cognitive engagement. Cognitive engagement, in turn, had a positive impact on emotional and physical engagement, while emotional engagement had a positive impact on physical engagement. Limitations – The use of self-evaluations could potentially cause social desirability bias. The study is limited only to Croatian hotels, which might vary from hotel industries in other parts of the world. Originality – This paper contributes to the development of internal marketing, as it identifies the relationship between internal marketing and different forms of employee engagement. Employee engagement is approached multidimensionally as consisting of emotional, cognitive and physical engagement. By distinguishing different engagement dimensions, the paper contributes to the theory of personal engagement with testing employee engagement concept in the hotel industry.Svrha - U hotelijerstvu, kao i u svim uslugama, cilj je imati zadovoljne zaposlenike koji su angažirani na svojim radnim mjestima. Kako bi se to postiglo, poduzeća implementiraju interni marketing. Stoga je svrha ovoga rada istražiti vezu između internog marketinga i različitih dimenzija angažmana zaposlenika (emocionalnog, kognitivnog i fizičkog) u hotelijerstvu. Metodološki pristup - Podatci su sakupljeni anketnim upitnikom na uzorku od 573 zaposlenika u hotelima u Hrvatskoj. Mjerni instrument sastoji se od prilagođenih ljestvica iz prošlih istraživanja, a koristio se povratni prijevod s engleskoga na hrvatski jezik. Konceptualni model i hipoteze testirani su metodom strukturnih jednadžbi koji se zasnivaju na kovarijantnim strukturama. Rezultati i implikacije – Rezultati upućuju na to da interni marketing ima pozitivan i statistički značajan utjecaj na emocionalni i kognitivni angažman zaposlenika u hotelijerstvu. Kognitivni angažman ima pozitivan utjecaj na emocionalni, ali i fizički angažman zaposlenika. Isto tako, emocionalni angažman ima pozitivan utjecaj na fizički angažman zaposlenika. Ograničenja - U radu su korištene ljestvice koje koriste samoprocjenu, što može imati za posljedicu da ispitanici daju društveno poželjne odgovore. Istraživanje se fokusira i samo na Hrvatsku, čije hotelijerstvo može imati neke specifičnosti u odnosu na druge države. Doprinos - Rad doprinosi razvoju praksi internoga marketinga i identificira veze između njega i različitih oblika angažmana zaposlenika. Angažman zaposlenika analizira se kao višedimenzionalan konstrukt koji se sastoji od emocionalnog, kognitivnog i fizičkog angažmana. Kroz razlikovanje njegovih različitih vrsta rad doprinosi teoriji osobnog angažmana kroz testiranje koncepta angažmana zaposlenika u hotelijerstvu

MER Model of Integral Management: Culture as Enterprise’s Key Success Factor

Enterprise culture is judged by many acknowledged scientists and researchers now as a major determinant of any enterprise’s success. The present article shows the research cognitions on the impact of enterprise culture to the success of the enterprises observed.

Ali marketinški viri prispevajo k uspešnosti podjetij?

This study investigates the relationships between market orientation, innovation resources, reputational resources, customer related capabilities and distribution-based assets, as well as their impact on both market and financial performance. The results indicate that market orientation is indirectly related to a company's market and financial performance through the four other marketing resources. Reputational resources have a positive impact on loyalty, market share and sales volume, while the impact of innovation resources on the market share and sales volume is more indirect and through customer loyalty. While customer-related capabilities significantly impact customer loyalty, their impact on the market share and sales volume can not be confirmed. On the other hand, the distribution-based assets are only weakly related to loyalty, the market share and the sales volume. The general findings indicate that selected marketing resources impact financial performance indirectly through the creation of customer loyalty and directly through the market share and sales volume.V raziskavi proučujemo povezavo med tržno naravnanostjo in inovacijskimi viri, viri ugleda, sposobnostmi povezanimi z odjemalci in premoženjem, ki temelji na dobaviteljih, kakor tudi njihov vpliv na tržno in finančno uspešnost. Rezultati razkrivajo, da je tržna naravnanost preko štirih obravnavanih marketinških virov posredno povezana s tržno in finančno uspešnostjo podjetij. Viri ugleda imajo pozitiven vpliv na zvestobo in tržne deleže ter obseg prodaje, medtem ko je vpliv inovacijskih virov na trž- ne deleže in obseg prodaje predvsem neposreden preko vpliva zvestobe odjemalcev. Sposobnosti povezane z odjemalci sicer pomembno vplivajo na zvestobo odjemalcev, vendar v raziskavi njihove povezave s tržnimi deleži in obsegi prodaje nismo potrdili. Premoženje, ki temelji na dobaviteljih je zgolj šibko povezano z obema kazalcema tržne uspešnosti (zvestobo, tržnimi deleži in obsegi prodaje). V splošnem ugotavljamo, da tržni deleži in obsegi prodaje na finančno uspešnost vplivajo neposredno, hkrati pa so tudi pomemben mediator pri posrednem vplivu zvestobe odjemalcev na finančno uspešnost

INTEGRALNI PRISTUP KULTURI PODUZETNIŠTVA KAO JEDNOM OD KLJUČNIH FAKTORA USPJEHA U PODUZETNIŠTVU

Enterprise culture is judged by many acknowledged scientists and researchers now as a major determinant of any enterprise’s success. The present article shows the research cognitions on the impact of enterprise culture to the success of the enterprises observed. It investigates the impact of customer and employee oriented enterprise culture on market and financial performance of the enterprise. Results suggest that enterprises, which are more customer (externally) oriented, show better market performance as well as better financial performance. The cognitions also show that more employee (internally) oriented enterprises, show positive impact to their market as well as to their financial performance.Mnogi priznati znanstvenici i istraživači smatraju kulturu poduzetništva jednom od osnovnih odrednica poduzetničkog uspjeha. Ovaj članak pokazuje rezultate istraživanja o utjecaju kulture poduzetništva na uspjeh promatranih poduzeća. Istražuje poduzetničku kulturu usmjerenu na klijenta i zaposlenika te njen utjecaj na tržište i financijsku performansu poduzeća. Rezultati ukazuju na to da poduzeća koja su usmjerenija na klijenta (eksterno), pokazuju bolje tržišne kao i financijske performanse. Rezultati također pokazuju da poduzeća orijentiranija na zaposlenike (interno) pokazuju pozitivan utjecaj na tržište i na vlastite financijske performanse

The Importance of Perceived Service Value in Retail Banking Services

Svrha – U različitim granama djelatnosti percipirana vrijednost usluga istaknuta je kao značajan medijator između percipirane kvalitete usluga te zadovoljstva i odanosti korisnika. Stoga je svrha ovoga rada na primjeru usluga u bankarskome sektoru testirati konceptualni model percipirane vrijednosti usluga i njegovih utjecajnih faktora, kao što su percipirana cijena i percipirana kvaliteta usluga, te posljedica, zadovoljstvo i odanost korisnika. Metodološki pristup – Za potrebe empirijskog istraživanja razvijen je mjerni instrument te testirana njegova valjanost i pouzdanost. Korišteni mjerni instrument provjeren je kroz eksplorativnu faktorsku analizu, konfirmatornu faktorsku analizu te strukturalno modeliranje. Strukturalni model s pet reflektivnih konstrukata analiziran je kako bi se testirale direktne i indirektne veze među konstruktima. Rezultati i implikacije – Rezultati potvrđuju medijacijsku ulogu percipirane vrijednosti u odnosu percipirane cijene i percipirane kvalitete te zadovoljstva i odanosti korisnika kod usluga u bankarskome sektoru. Ograničenja – Kako su rezultati istraživanja direktno relevantni isključivo korisnicima bankarskih usluga i marketinškim menedžerima u bankama, treba se uzeti s oprezom generalizacija rezultata na druge usluge osim bankarskih. Doprinos – Ovaj rad zasniva se na postojećim spoznajama te ih nadograđuje direktnim i indirektnim efektima među istraživanim konceptima. On naglašava važnost percipirane vrijednosti usluga u postizanju zadovoljnih i odanih korisnika u bankarskim uslugama.Purpose – In many industries, perceived service value is found to be a significant mediator between perceived service quality and customer satisfaction and loyalty. Therefore, this paper aims to test a conceptual model of perceived service value with its antecedents, such as perceived price and perceived service quality, and consequences, customer satisfaction and loyalty, in the retail banking industry. Design/Methodology/Approach – For the empirical study, a measurement instrument was developed and tested for validity and reliability. Measures were assessed with exploratory factor analysis (EFA), confirmatory factor analysis (CFA) and structural equation modeling (SEM). A structural model with five reflective constructs was evaluated to test direct and indirect relationships among constructs. Findings and implications – Results confirm a mediating role of perceived value in relationships between perceived price, perceived service quality, customer satisfaction, and customer loyalty in the case of retail banking services. Limitations – Because the results are directly relevant only to customers and marketing managers of retail banking services, generalizations of the findings beyond the immediate population observed should be made with caution. Originality – This paper extends existing knowledge with both direct and indirect effects among researched concepts, and shows the importance of perceived service value in achieving satisfied and loyal customers in retail banking services

The Importance of Perceived Service Value in Retail Banking Services

Svrha – U različitim granama djelatnosti percipirana vrijednost usluga istaknuta je kao značajan medijator između percipirane kvalitete usluga te zadovoljstva i odanosti korisnika. Stoga je svrha ovoga rada na primjeru usluga u bankarskome sektoru testirati konceptualni model percipirane vrijednosti usluga i njegovih utjecajnih faktora, kao što su percipirana cijena i percipirana kvaliteta usluga, te posljedica, zadovoljstvo i odanost korisnika. Metodološki pristup – Za potrebe empirijskog istraživanja razvijen je mjerni instrument te testirana njegova valjanost i pouzdanost. Korišteni mjerni instrument provjeren je kroz eksplorativnu faktorsku analizu, konfirmatornu faktorsku analizu te strukturalno modeliranje. Strukturalni model s pet reflektivnih konstrukata analiziran je kako bi se testirale direktne i indirektne veze među konstruktima. Rezultati i implikacije – Rezultati potvrđuju medijacijsku ulogu percipirane vrijednosti u odnosu percipirane cijene i percipirane kvalitete te zadovoljstva i odanosti korisnika kod usluga u bankarskome sektoru. Ograničenja – Kako su rezultati istraživanja direktno relevantni isključivo korisnicima bankarskih usluga i marketinškim menedžerima u bankama, treba se uzeti s oprezom generalizacija rezultata na druge usluge osim bankarskih. Doprinos – Ovaj rad zasniva se na postojećim spoznajama te ih nadograđuje direktnim i indirektnim efektima među istraživanim konceptima. On naglašava važnost percipirane vrijednosti usluga u postizanju zadovoljnih i odanih korisnika u bankarskim uslugama.Purpose – In many industries, perceived service value is found to be a significant mediator between perceived service quality and customer satisfaction and loyalty. Therefore, this paper aims to test a conceptual model of perceived service value with its antecedents, such as perceived price and perceived service quality, and consequences, customer satisfaction and loyalty, in the retail banking industry. Design/Methodology/Approach – For the empirical study, a measurement instrument was developed and tested for validity and reliability. Measures were assessed with exploratory factor analysis (EFA), confirmatory factor analysis (CFA) and structural equation modeling (SEM). A structural model with five reflective constructs was evaluated to test direct and indirect relationships among constructs. Findings and implications – Results confirm a mediating role of perceived value in relationships between perceived price, perceived service quality, customer satisfaction, and customer loyalty in the case of retail banking services. Limitations – Because the results are directly relevant only to customers and marketing managers of retail banking services, generalizations of the findings beyond the immediate population observed should be made with caution. Originality – This paper extends existing knowledge with both direct and indirect effects among researched concepts, and shows the importance of perceived service value in achieving satisfied and loyal customers in retail banking services

Interna i eksterna tržišna orijentacija kao organizacijski resursi – posljedice za tržišnu i financijsku uspješnost

The concept of internal marketing has been discussed in marketing literature for over 30 years. Despite this fact there is little theoretical and empirical evidence of the way in which the internal market orientation impacts market and financial performance. On the other hand, there is considerable empirical evidence concerning the impact of the external market orientation on market and financial performance. Consequently, very few research projects have dealt with the impact of both market orientations on the performance of companies. In this paper a structural model was constructed, consisting of the internal market orientation, external market orientation, market performance and financial performance. With the help of the structural equation model the hypothesis that the internal market orientation is a significant predecessor of the external market orientation was confirmed. The external market orientation was found to significantly influence market as well as financial performanceO pojmu internoga marketinga u marketinškoj se literaturi raspravlja više od 30 godina. Unatoč tome, malo je teorijskih i empirijskih dokaza o učinku koji interna tržišna orijentacija ima na tržišnu i financijsku uspješnost. S druge strane, postoji mnogo empirijskih dokaza o učinku eksterne tržišne orijentacije na tržišnu i financijsku uspješnost. Stoga se vrlo malen broj istraživačkih projekata pozabavio utjecajem obiju ovih tržišnih orijentacija na uspješnost poduzeća. Za potrebe ovog rada izrađen je strukturni model, koji se sastoji od interne tržišne orijentacije, eksterne tržišne orijentacije, tržišne uspješnosti i financijske uspješnosti. Njime je dokazana hipoteza da je interna tržišna orijentacija značajna prethodnica eksterne tržišne orijentacije. Utvrđeno je da eksterna tržišna orijentacija ima značajan utjecaj na tržišnu, kao i na financijsku uspješnost

The Importance of Perceived Service Value in Retail Banking Services

Svrha – U različitim granama djelatnosti percipirana vrijednost usluga istaknuta je kao značajan medijator između percipirane kvalitete usluga te zadovoljstva i odanosti korisnika. Stoga je svrha ovoga rada na primjeru usluga u bankarskome sektoru testirati konceptualni model percipirane vrijednosti usluga i njegovih utjecajnih faktora, kao što su percipirana cijena i percipirana kvaliteta usluga, te posljedica, zadovoljstvo i odanost korisnika. Metodološki pristup – Za potrebe empirijskog istraživanja razvijen je mjerni instrument te testirana njegova valjanost i pouzdanost. Korišteni mjerni instrument provjeren je kroz eksplorativnu faktorsku analizu, konfirmatornu faktorsku analizu te strukturalno modeliranje. Strukturalni model s pet reflektivnih konstrukata analiziran je kako bi se testirale direktne i indirektne veze među konstruktima. Rezultati i implikacije – Rezultati potvrđuju medijacijsku ulogu percipirane vrijednosti u odnosu percipirane cijene i percipirane kvalitete te zadovoljstva i odanosti korisnika kod usluga u bankarskome sektoru. Ograničenja – Kako su rezultati istraživanja direktno relevantni isključivo korisnicima bankarskih usluga i marketinškim menedžerima u bankama, treba se uzeti s oprezom generalizacija rezultata na druge usluge osim bankarskih. Doprinos – Ovaj rad zasniva se na postojećim spoznajama te ih nadograđuje direktnim i indirektnim efektima među istraživanim konceptima. On naglašava važnost percipirane vrijednosti usluga u postizanju zadovoljnih i odanih korisnika u bankarskim uslugama.Purpose – In many industries, perceived service value is found to be a significant mediator between perceived service quality and customer satisfaction and loyalty. Therefore, this paper aims to test a conceptual model of perceived service value with its antecedents, such as perceived price and perceived service quality, and consequences, customer satisfaction and loyalty, in the retail banking industry. Design/Methodology/Approach – For the empirical study, a measurement instrument was developed and tested for validity and reliability. Measures were assessed with exploratory factor analysis (EFA), confirmatory factor analysis (CFA) and structural equation modeling (SEM). A structural model with five reflective constructs was evaluated to test direct and indirect relationships among constructs. Findings and implications – Results confirm a mediating role of perceived value in relationships between perceived price, perceived service quality, customer satisfaction, and customer loyalty in the case of retail banking services. Limitations – Because the results are directly relevant only to customers and marketing managers of retail banking services, generalizations of the findings beyond the immediate population observed should be made with caution. Originality – This paper extends existing knowledge with both direct and indirect effects among researched concepts, and shows the importance of perceived service value in achieving satisfied and loyal customers in retail banking services