Differences in attention allocation are related to corporate performance
September 06, 2024 09:37 Source: "Chinese Social Sciences Journal" Issue 2972, September 6, 2024 Author: Liu Yuwei/Compiler

  bet365 best casino games The official website of Waseda University in Japan recently issued an article,This school and Keio University、A new study jointly conducted by Hitotsubashi University reveals the link between a company’s attentional uniqueness and corporate performance。

20 years ago,William Ocasio, professor of business and leadership at the University of Illinois at Urbana-Champaign, proposed an "attention-based view of the enterprise",Proposes that organizational behavior is actually the result of managers’ attention allocation and focus,This allocation and focus is profoundly affected by the organizational structure and external environment。bet365 best casino games Ocasio thinks,The allocation of a company's attention to specific issues is reflected in the company's strategic decisions and adaptability,Directly affects corporate behavior and growth performance。On this basis,Yamanoi Junichi, associate professor at Waseda University Business School and other scholars proposed the concept of attention uniqueness,And define it as the difference in attention allocation between a company and its competitors。They think,If companies can pay attention to unique problems and common problems,Find the balance between the two,That is, it reflects the uniqueness of moderate concentration,You will gain a competitive advantage that drives growth。

Yamanoi Junichi and others conducted an in-depth analysis of the annual reports of Japanese companies listed on the Tokyo Stock Exchange from 2004 to 2016 by using a structural topic model。Structured topic model is an unsupervised Bet365 lotto review machine learning technique,Ability to set labels without pre-setting,Automatically identify topics and their distribution patterns in text。

Yamanoi Junichi and others analyzed a total of 9366 observations related to 986 companies,With special attention to the key strategic agenda and management issues mentioned in the annual report。They found out,There is an inverted U-shaped relationship between the uniqueness of a company’s attention and its performance。This shows,Enterprises maintain a certain degree of attention and uniqueness,Its performance is the best。Being too focused or too distracted will have an adverse impact on business performance。In addition,Frequency of growth actions (actions a company takes to seize opportunities),Plays a mediating role in the inverted U-shaped relationship between attention uniqueness and performance。In an environment of scarce opportunities,One can bet365 best casino games observe such an inverted U-shaped relationship becoming more pronounced,This indicates that there are insufficient market opportunities,Businesses should maintain a unique focus that is neither too diffuse nor too centralized。

Researchers took Toyota Motor Corporation’s gasoline-electric hybrid vehicle “Prius” as an example,Explaining how business attention drives growth actions。1993,Toyota Motor Company takes note of sustainability issues and emerging challenges in the automotive industry,The G21 Project Committee was subsequently established。The committee identifies resources and the environment as key issues for future automotive development。1997,Toyota launches the "Prius" gasoline-electric hybrid model,Not only greatly improves fuel economy,It can also reduce atmospheric pollution。Meanwhile,Many of the company’s competitors are still obsessed with Bet365 lotto review model selection、Traditional issues such as exterior design and engine performance,Slow response to Prius innovations in addressing global environmental challenges。

Yamanoi Junichi thinks,In addition to paying attention to competitors’ market positioning or strategic initiatives,Also pay close attention to the attention allocation of competitors,Especially in mature industries where growth opportunities are scarce。For managers who want to take proactive action to grow their business,Junichi Yamanoi suggested that they focus on making themselves more distinctive compared to their competitors,Believe that an enterprise that understands and values ​​the strategic significance of the uniqueness of attention is more likely to discover and exploit new opportunities,To achieve sustainable development。

(Liu Yuwei/Compiled)

Editor: Zhang Jing
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