A key empirical question then becomes “Which business management practices will lead to organizational failure, success, and financial performance?” We argue that business and economic t practices will influence or drive corporate performance. According to our research, a combination or integration and adoption and implementation of structure, leadership, and strategy are related to high-performance organization. Maintaining consistency with previous research, business and economic practices effect on these practices is in turn mediated by theory, behavior, and strategy. We examine relevant formal hypotheses that focus and build on this argument in the presentation and analysis of data section. A full set of variables drawn from organizational literature are used as controls in research tests.
Our empirical works have steadily and regularly found that use of effective business and economic practices (e.g., organization theory practices, organizational behavior practices, and strategic management practices) heighten and improve firm performance. We focus on the impact of high performance business and economic practices on organizational failure, success, and financial performance. Using longitudinal data involving repeated observation, examination, and study of more variables, we argue that business and economic practices have a positive, economic, and significant effect on organizational performance.
Similarly, our research on the connections and relationships between systems of business and economic practices and organizational performance is beneficial in our studies. Although various authors have conducted studies that more progressive business and economic practices are associated with heightened firm performance, the analyses in each study are restricted to few variables. However, the authors are not able to reach a firm decision and make clear the matter and final outcome of coincidence, linkage, and relationship between business management practices and organizational performance. These researches do not provide results beyond a single variable. In short, although, a growing empirical literature focuses generally on the impact of business management practices, previous works have been generally limited in terms of having limited knowledge and conducting studies only on few of these practices.
Therefore, our study departs from previous business management theory literature and is concerned with the possible coincident of high performance business and economic practices and corporate financial performance. This form of coincident relationship, we believe, affects balanced effectiveness. Despite a well-developed literature devoted to balanced effectiveness, such amendment and rectification has seldom been attempted in previous works. Our widespread concept rely on high performance business and economic practices which focus on conventional wisdom and is likely to present and involve a significant development of the management, creation, and implementation of innovation and change process successfully. These practices, we have all, widely linked with valued firm-level outcomes and results.
Our current research usually builds on and contributes to our existing stream of research. In particular, our study indicates an important vehicle for higher levels of performance. This observation or awareness seems well founded, and has the most influence on an organization. Moreover, evidence indicates that these practices heighten performance and drive superior results, and improve organizational outcomes. In practice, as it is pointed out above, the language lies on the combination of strategic and financial objectives. As our research reveals, it is important to approach business and economic practices as mission critical. The key to this integration is to recognize that organizational performance is critical to business and economic practices and to thus draw their form and their content.