Влияние предпринимательской ориентации и управленческих инноваций на результаты деятельности бизнеса на примере финских компаний

Modern, rapidly changing markets require rapid and high-quality innovations in the management process. More and more companies are now moving to self-managing teams, home offices, introducing modern technologies into team-management communications, and moving away from traditional organisational structures. In this term, the importance of management innovations within a company becomes more significant and needs closer investigation.
Management innovation is a term used to measure the significant new change in the organisational practices, directed to the organisational aims, strategy and decision making results (Hecker and Ganter, 2013). The term refers to the implementation of novel managerial practices, processes and procedures, such as implementing remote work, modern technologies for efficient communication within an organisation, and self-managing teams. Indeed, many companies nowadays try to move away from traditional organisational structures and processes to novel one in order to increase both motivation and productivity among employees. For example, self- managing teams are authorized to make decisions on the workplace autonomously, thus, they usually combine skills and experience of all the teammates to improve the project or product, change trajectory, or monitor deviations. It significantly differs from the traditional managerial hierarchy, in which manager has to get alignments from different departments in order to finish a project and spend much time to do that.
Besides, in term of pandemic coronavirus implementing new management processes become a need in many organisations: due to strong governmental restrictions companies had to shift to completely or partially remote work and search for other opportunities to operate efficiently despite the epidemiological situation. Despite this shifting was necessary, It lead to many advantages for companies, such as increased productivity. Indeed, as employees are working from home they have more time, more flexible schedule and less distractions from working process. Companies at the same time reduce the costs, for example on office rent or overhead, and focus on the profit improvement.
Although the term management innovation exists for a relatively long period, the number of studies dedicated to this topic is limited. Besides, most of the studies provide theoretical models and contributions rather than practical research based on the particular data. However, quantitative studies usually test the models with management innovation mainly based on either a small sample or a specific set of observations. For example, the research introduced by Mol and Birkinshaw
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(2009) includes only large companies operating in Great Britain. Thus, in order to check the stability of these findings, the stated hypotheses could be tested on a larger or significantly different sample: companies operating in different regions, industries, or small and medium enterprises.
From the strategic management perspective it is highly important to understand how implementing of new different practises in organisations affects firm performance in various ways: for instance, directly and indirectly. Although, firm performance refers to traditional quantitative approaches to measure organisational performance measurement, last decades provide a high attention to the development and measurement of both financial and non-financial performance, that used for monitoring and reporting the business performance (Otley, 2002). The incentive for these research directions comes from bottom and the top of the organization. From the one hand, financial indicators are inevitable in more senior levels, since they provide basic information about companies’ performance: profits, sales, sales growth, and others. Indeed, any companies both public and private have to exist within financial constraints in order to deliver the information about a particular company to its stakeholders.
At the same time, operational levels requires to measure the firm performance via non- financial indicators. Indeed, recent research also highlight increasing recognition of others factors (mostly of non-financial indicators), which help to evaluate performance in a more efficient way and drive future business performance. In this term, the following factors could be used to measure a firm performance (Otley, 2002): market share, productivity, product leadership, personnel development, employee attitudes, public responsibility. Thus, different sets of non-financial measures could be used regarding the different industries and company’s specific. However, it becomes clear now that these indicators are the necessary part to more accurate measure the firm performance.
More than that, management innovation relates to a firm-level entrepreneurship: the role of introducing new practices and processes for development innovations, economic growth and organisation efficiency was previously considered by Schumpeter (1934, 1943) and developed by Walker et al. (2015). However, these studies considered this relationship only from theoretical perspective, without practical evidence of this phenomena. Besides, new reality (due to worldwide pandemic) requires from companies to change their organisations and implement new practices, which once again highlights increased relevance and necessity of management innovation. Therefore, the link between management innovation and entrepreneurship remains a research area that has not been fully explored, which requires further development. This study tries to find a
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proper connection between EO and MI and investigate their influence on firm performance measurements.
Therefore, taking into account previous literature, we found out that: (1) management innovation could lead to a higher firm performance, (2) firm-level entrepreneurship and management innovation are connected, and (3) it is crucial to add both financial and non-financial factors to measure the firm performance.