Journal of value creating in Business Management

Abstract Abstract The purpose of this research is to investigate the effect of organizational structure on the complexity of value-based management, which is applicable in terms of purpose, and descriptive-survey in terms of the nature and method of information collection. The statistical population of the present study includes executive directors and financial managers of companies listed in the Tehran Stock Exchange, and based on the available population and Cochran's formula, 317 people were selected by simple random sampling. The collection tool in this research is Novotani's questionnaire (2023), which has 4 components and 15 items. After checking the normality of data distribution using the Kolmogorov-Smirnov test, SmartPLS 3 software was used to test the hypotheses. The research findings showed that vertical differentiation has a negative and significant effect on the complexity of value-based management (t=-4.052). Centralization and formalization have a positive and significant effect on the complexity of value-based management (t=9.108). Also, horizontal integration has a positive and significant effect on the complexity of value-based management (t=8.67). Formalization also has a positive and significant effect on the complexity of value-based management (t=7.25). In general, it can be said that the organizational structure is effective on the complexity of value-based management; therefore, the complex process of value creation is realized and developed in the context of the appropriate formulation of organizational structure components along with the application and development of strategic management accounting innovations. Introduction Value-based management systems are designed to motivate managers to engage in actions that maximize stakeholder value (Bruck et al, 2018). Despite the widespread use of value-based management and its connection to scientific research, there is still little information about the reasons for the reported differences in the implementation of value-based management (Firk et al, 2019). Recent literature on the drivers of value-based management implementation focuses on environmental and intra-organizational factors (Burkert & Lueg, 2013) and largely ignores organizational factors; while the structure of a company, which is an important organizational factor, has specifically been reported as an effective factor on the adoption of administrative innovations and the design of management control systems (Lee & Yang, 2011) and its effect is only partially tested in a value-based management environment. The analyzes show that organizational structure variables including centralization, formalization and horizontal integration are positively correlated with the implementation of value-based management, and it is argued that centralization is due to providing a consistent framework for an organization to accurately implement value-based management is higher due to political appropriateness. Centralization seems to protect the value-based management system from potential social pressures. Also, formalization and horizontal integration seem to facilitate the implementation and sustainable use of value-based management. High levels of these structural variables are suggested to create a higher organizational fit (technical, political, and cultural fit) that helps maintain value-based management with respect to potential deinstitutionalization in the last stages of promotion. While vertical separation generally does not have a significant effect on the implementation of value-based management, the findings show a significant negative effect on organizational members' beliefs of value-based management, which we interpret as cultural incompatibility with value-based management. This research contributes to the development of the literature related to the promotion of management accounting innovation and value-based management in the following ways: First, organizational structure is related to differences in the implementation of value-based management, and it is argued that the specific structural characteristics of an organization determine coordination with the characteristics of a specific management accounting innovation (Ansari et al, 2010). Second, it provides detailed findings regarding the interactions of different structural aspects on the sub-components of value-based management implementation. In particular, centralization results contradict with principled claims that decentralization is generally favorable for value-based management, and recent qualitative findings confirm the deterrent effects of decentralization in a value-based management environment (Chiwamit et al, 2017). The main question of the current research is: what effect does organizational structure have on the complexity of value-based management? Theoretical foundations Value-based management is described as an integrated management control system that aligns the entire organization with the strategic goal of maximizing stakeholder value (Schultze et al, 2018). Although value-based management is not a new management control system, it is considered as an innovation after being applied in an organization. Value-based management defines value creation interdependencies in the organization (value drivers) and organizational procedures with cause and effect (action plans), and creates incentives for goal setting and reward system. Mohammadi Qashlaq & Atash Soz (2023), in a research titled investigation of the relationship between knowledge management and environmental variables of the organization with the organizational structure of companies operating in Urmia industrial towns, showed that there is a positive and significant relationship between knowledge management and the environmental variables of the organization with the organizational structure. According to them, the environmental variables of the organization can affect the organizational structure of the companies operating in the industrial towns of Urmia. Mohammadi Pushharaki & Landran Esfahani (2023) in a research titled organizational structure on the complexity of value-based management in knowledge-based companies reported that a high level of concentration with the political suitability of an organization had a positive relationship with value-based management, while vertical differentiation with cultural fit seems to have a negative relationship with value-based management. High levels of formalization and horizontal integration indicate technical, political and cultural fit with value-based management, which has helped to achieve a high level of value-based management implementation. Research method The current research is descriptive of the correlative type and applicable in terms of purpose. A questionnaire (Nowotny, 2023) was used to collect data related to the organizational structure variable. This questionnaire has 4 components and 15 items. Its components include centralization (4 questions), formalization (4 questions), horizontal integration (4 questions) and vertical differentiation (3 questions). In order to collect data related to the value-based management complexity variable, Novotny's questionnaire (2023) was used and this questionnaire has 23 items and 6 portfolio components (4 questions) - financial value (3 questions) - non-financial value (3 questions) - goal setting. (5 questions) - Plan of actions (4 questions) - Mentality (4 questions), and was investigated based on Likert's 5-factor scale. The statistical population of the research includes financial and executive managers of different levels working in companies admitted to the Tehran stock market. It should be noted that the distribution of measurement parameters is homogeneous in the statistical community and no specific idea has been considered for the structure of the community. The sampling method is simple random. In addition to being simple, this method also has acceptable accuracy. In this research, 353 questionnaires were completed, of which 36 were discarded due to confusion and lack of answers to all the questions, and 317 questionnaires were evaluated in the final. Research findings The results of the factor analysis of the questionnaire items showed that all the items are greater than 0.4, and the value of the t statistic is greater than 1.96, so the questionnaire has desired validity. The fitting of the structural model using t coefficients is such that these coefficients must be more than 1.96 in order to confirm their significance at the 95% confidence level. The significant results of the coefficients are reported based on the value of the t statistic; so that if the value of t statistic is greater than 1.96, it can be concluded with 95% confidence that the independent variable has an effect on the dependent variable. Factor loadings indicate the correlation between each obvious variable (questions) and its related factors. Questions with factor loadings less than 0.4 are not sufficient to remain in the model and should be removed. As you can see in the model, all the numbers are above 0.4, so no question is deleted. R² determination coefficient criterion (R Squares): The value of R² is calculated only for the dependent (endogenous) structures of the model, and in the case of exogenous structures, the value of this criterion is zero. The higher the value of R² related to the endogenous structures of a model, the better the fit of the model. Chain (1998) considers three values ​​of 0.19, 0.33, and 0.67 as criteria for weak, medium and strong values ​​of the fit of the structural part of the model by R² criterion. Predictive quality criterion (Q²): It specifies the prediction of the model. Models that have an acceptable structural fit should be able to predict indicators related to the endogenous structures of the model. Discussion and conclusion  Three main structural variables, including centralization, formalization and horizontal integration, show a positive relationship with the complexity of value-based management. These results suggest that organizational structure is another reason for the frequently reported differences in the complexity of value-based management. According to the obtained results, formalization has a positive relationship with the complexity of value-based management in general and each of the sub-dimensions of value-based management. These results are consistent with our assumption that formalization increases the transparency of organizational processes, and thus formalization seems to facilitate the identification and interconnection of financial and especially non-financial value drivers. The results also show that if the information about the unit's activities is spread throughout the organization, it increases the political fit with value-based management, and can reduce the opportunistic behavior of employees or unit departments in an organization. Furthermore, it is argued that in companies with high horizontal integration, there are cultural practices in which employees are willing to adjust action plans based on the logic of value-based management when necessary, and thus appear to show more belief in value-based (cultural appropriateness) management. This research contributes to the existing literature on value-based management and promoting management accounting innovations. Although recent research reports contingent factors that affect the implementation of value-based management at the environmental level such as perceived environmental uncertainty (Burkert & Lueg, 2013) and the intra-organizational level, such as top management team characteristics (Burkert & Lueg, 2013) and financial manager succession (Firk et al, 2019), the findings of this research expand by identifying organizational structure as an important relevant factor at the organizational level. Therefore, we find that organizational sub-variables affect the technical, political and cultural fit of an organization with value-based management differently and interdependently. Previous studies showed that mechanized organizations were more successful in implementing administrative innovations. This research shows that formalization gives organizational members the ability to effectively transfer new rules to routines that become institutionalized and remain.

Abstract This article aims to design a structural, behavioral and background model for talent management in the specialized parent company of thermal power generation. Since the phenomenon of organization and management can be studied and analyzed in the form of three categories of structural, behavioral and contextual factors, the basic basis of the conceptual framework of the research is the use of the three-pronged model. To achieve the purpose of the research, a mixed exploratory design (qualitative-quantitative) was used. became Based on the findings of the qualitative section, a questionnaire was compiled and distributed among 237 employees of thermal electricity subsidiaries. The final model was validated by the structural equation modeling method and the appropriateness of the model was confirmed in fitting the collected data. The results showed that the structural dimensions of talent management include six dimensions of organizational structure, recruitment system, training system, service compensation system, management and performance evaluation system, and organizational strategy. Behavioral dimensions include the three dimensions of organizational culture, leadership style and meeting high-level needs, and contextual dimensions include the atmosphere and environment of the organization and the external environment. The proposed three-dimensional model can be effective in line with the policies and decisions of managers in the process of attracting, developing and maintaining talents. Extended Abstract Introduction Organizations have well understood that they need to have the best talents in order to succeed in the complex global economy and survive in the competitive business environment. Also, organizations have realized that these intellectual capitals are vital resources that require management in order to achieve the best results (Mahmudi et al, 2022). In the past, talent management was assigned to the human resources unit as a side responsibility, while today talent management is considered as an organizational task, which is the responsibility of all organizational units. Talent management is so important that it alone can be considered the heart of human resources (McDonnell et al, 2019). Due to their high contribution and influence in the country's economy, state-owned companies are among the organizations that need to be specially addressed in the talent management process (Dehghaniyan et al, 2018). During the past few years, the country's electricity industry has faced problems in attracting, developing and maintaining organizational elites and talents, and also leaving a number of them for various reasons. This issue has; therefore, not only caused problems for the companies through the lack of human resources in these positions, but also, each of these people have carried their explicit and implicit knowledge out of the company, and damaged the organization from this point of view as well. Also, some talents want to have special privileges compared to other employees of the organization, for example, to receive more and better training, to have more flexible working hours (floating), and to enjoy more benefits (Shateri et al., 2016). Based on this, the current research is looking for an answer to this question: What is the model of talent management in the specialized mother company of thermal power? Theoretical Framework Talent management is a continuous process that includes attracting and maintaining qualitative employees and developing their skills. This program is aimed at providing human capital to improve organizational performance through employee empowerment (King et al, 2021). Its purpose is to ensure the availability of talent and to place the right people in the right job at the right time based on the strategic goals of the business. Talent management includes all human resources, administrative and technological processes. It usually refers to things like choosing recruitment options, selection, recruitment, socialization, retention, development and deployment, which is accompanied by planning and analysis. In other words, talent management is related to the recruitment, development of employees and management processes, and can be described as "talent optimization" (Froese et al, 2020). Montero Guerra et al, (2023) investigated the impact of digital transformation on talent management processes. Their results showed that organizational changes caused by digital transformation affect talent management and attracting and retaining talents. Mahmudi et al, (2022) investigated the role of talent management in organizational succession among physical education managers in Tehran. The results of the research findings showed that there is a positive and significant relationship between talent management and its dimensions of attracting and identifying talents, selecting and hiring talents, developing talents, employing talents, retaining and maintaining talents, the attitude and approach of talent management with the performance of succession planning, and the results of the research model showed that the use of talent was a stronger predictor than the succession. The results state that for the flourishing of talents and the formation of a unified Islamic-Iranian identity, the education organization requires the existence of talented and high-quality people and the training of suitable replacement forces based on the philosophy of Islamic-Iranian education. Research methodology According to its purpose, the research method is developmental-applicable, and in terms of execution method, it is mixed (qualitative-quantitative), and in terms of the data collection method, the qualitative part is exploratory-inductive and the quantitative part is descriptive-analytical. The statistical population of the research in the qualitative part includes 15 academic and industrial experts, and the dimensions of talent management in the form of structure, behavior and context, selected for the interview using purposeful sampling and in the form of snowball. The statistical population in the quantitative part includes 237 employees of thermal power subsidiaries who were selected using simple random sampling. Semi-structured interviews were used to collect information in the qualitative part, and a researcher-made questionnaire taken from the qualitative part was used in the quantitative part. Research findings In the qualitative part of the comparative approach and content analysis, the final categories were identified using previous studies; and in the quantitative part, SPSS software was used for analysis and AMOS was used for structural equations. The results showed that the structural dimensions of talent management include six dimensions of organizational structure, recruitment system, training system, service compensation system, management system, performance evaluation, and organizational strategy. Behavioral dimensions include the three dimensions of organizational culture, leadership style, and meeting high-level needs; and contextual dimensions include the atmosphere and environment of the organization and the external environment. The results in the quantitative section showed that the model has a good fit.   Conclusion The current research was conducted with the aim of designing a model of talent management in the specialized mother company of thermal power. The results of the present study are in agreement with the results of Montero Guerra et al, (2023), Mahmudi et al, (2022), Sotudeh arani et al, (2021), Haghghani (2021), Mahfozi et al, (2019), Moradi et al, (2022), and Won Yon (2020). Mahmudi et al, (2022) showed that a positive and significant relationship exists between talent management and its dimensions of attracting and identifying talents, selecting and hiring talents, developing talents, employing talents, retaining and maintaining talents, the attitude and approach of talent management on one side, and succession planning on the other, and based on the results of the research model, it was observed that the use of talent was a stronger predictor than succession planning. They also showed that for the flourishing of talents and the formation of a unified Islamic-Iranian identity in the education organization, it is necessary to have talented and high-quality people and to train suitable replacement forces based on the philosophy of Islamic-Iranian education. According to the results obtained from the research, it is suggested: To attract talent from within the organization through evaluation centers in the organization that periodically evaluate employees in terms of work and behavior and guide them in the field of performance management and career development. To recruit from outside the organization, the selection and recruitment process should be focused on identifying talented graduates and applying the law of recruiting elites and preventing the entry of people who do not have the necessary qualifications. The use of prominent professors to provide educational content; professors who, while having theoretical literacy, also have the required practical and applicable experience and have good abilities.