Enhancing business performance in the power generation industry: Exploring determinant factors through operational turnaround strategies
Keywords:
operational turnaround strategy, cost reduction, revenue generation, asset reduction, business performance, power generation industryAbstract
This research examines the implementation of operational turnaround strategies in a power generation company to enhance the organization's business performance. The company seeks to increase the profitability of its assets by improving operational efficiency. Operational turnaround strategies, including cost reduction, revenue generation, and asset reduction, were implemented in the company to achieve operational excellence and revitalize underperforming assets. This study aims to determine the extent of operational turnaround strategy implementation, evaluate its impact on business performance, and fill existing research gaps. A self-administered questionnaire was distributed to 102 personnel involved in the company 's turnaround program, including experts, managers, and power plant engineers. The collected data were analysed using Statistical Package for Social Science (SPSS) software. The findings indicate a positive relationship between the implemented operational turnaround strategies and the company's business performance. This study provides valuable insights for the power generation industry, emphasizing the significance of effective asset management practices to enhance business performance. By implementing operational turnaround strategies, organizations can optimize operational efficiency and increase profitability. The findings contribute to closing the research gap on the link between business performance and operational turnaround strategies. The company and other power generation companies can utilize the practical implications from this study to guide their efforts in achieving operational excellence and maximizing profitability.
Downloads
Downloads
Published
How to Cite
Issue
Section
License
This work is licensed under a Creative Commons Attribution 4.0 International License.
Disclaimer
Global Business Management Review (GBMR) has taken all reasonable measures to ensure that material contained in this website is the original work of the author(s). However, the Journal gives no warranty and accepts no responsibility for the accuracy or the completeness of the material; no reliance should be made by any user on the material. The user should check with the authors for confirmation.
Articles published in the Global Business Management Review (GBMR) do not represent the views held by the editors and members of the editorial board. Authors are responsible for all aspects of their articles except the editorial screen design.
Submission of an article is done with the understanding that the article has not been published before (except in the form of an abstract or as part of a published lecture, or thesis) that it is not under consideration for publication somewhere else; that if and when the article is accepted for publication, the author's consent to automatic transfer of the copyright to the publisher.