| Summary: | 碩士 === 雲林科技大學 === 企業管理系碩士班 === 96 === The main theme of this research is to explore the interrelationship between organizational characteristics, turnaround strategy, and turnaround performance. A sample of US manufacturing firms experiencing turnaround situation during 1992 - 2006 was derived from COMPUSTAT database, to study how organizational characteristics (organization age, size, prior performance, and market position) and turnaround strategy (efficiency-oriented strategy and growth-oriented strategy) impact turnaround performance and how these factors interact with turnaround strategy and influence turnaround performance during performance decline.
The research results found that (1) the direct impact of efficiency-oriented strategy and growth-oriented strategy on turnaround performance in terms of ROI and ROA was not evident; (2) both growth-oriented strategy and efficiency-oriented strategy were negatively related to the average marketshare growth rate; (3) firms of older age had better turnaround performance in terms of ROI if growth-oriented strategy was adopted compared with firms of younger age; (4) firms of smaller size received better ROI and ROA if growth-oriented strategy was used compared with firms of larger size; (5) prior performance had a strong positive impact on turnaround performance in terms of ROI and ROA; in addition, (6) firms with better prior performance are more likely to increase average marketshare growth rate if efficiency-oriented strategy was adopted compared with firms with poorer prior performance; (7) firms with weaker market position were more likely to increase the average marketshare growth rate if adopting growth-oriented strategy.
According to the study results, the influences of organizational characteristics on turnaround performance were more evident than that of strategy deployed; and the combination effects of organizational characteristics and turnaround strategy would influence turnaround performance. Organizational characteristics are thus important factors to be considered when implementing turnaround strategies during performance decline.
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