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The hypotheses are clearly stated:- H1. Firms pursuing a cost leadership strategy will adopt ISO due to latent unobserved cost reduction reasons and the effect of adoption will be reflected on financial performance indicators marking increased profitability.

Whether such increased profitability is also reflected on other financial indicators of performance is inconclusive. Firms pursuing a market differentiation strategy will adopt ISO due to latent unobserved marketing reasons and the effect of adoption will be reflected on financial performance indicators marking increased growth of sales.

Firms pursuing a focus strategy will adopt ISO due to latent unobserved focused marketing reasons and the effects of adoption will be reflected on financial performance indicators marking increased growth of sales.

If the focus strategy has a strong element of cost leadership, the firm may also show improvement in profitability or other indices of financial performance. Does the author identify the research methodology and any associated limitations of the research design? The limitation might be taking data for four years might not be convenient because one organization might change their system within those years and when the study is it might not be useful anymore because of external and internal factors almost everything might change.

Are instruments adequately described, including issues of appropriateness, validity, and reliability? Do any evident biases or ethical considerations arise about the methodology? Are the methods for measuring results clearly explained and appropriate?

The results indicate that, among ISO adopters, financial performance varies according to the strategic orientation pursued by each firm. In that sense, the results are not directly comparable to results obtained by previous studies but expand previous results by proving that indeed, strategic orientation is a moderating variable that should be taken into account in research examining the financial impact of the ISO adoption.

Are the author's major findings presented? The research findings are unambiguous in that the cost leadership group has good growth rates in all profitability indices, but firms in the market differentiation group have extremely good growth in sales, suggesting market expansion, and in equity capital. The study's consequence is that firms in the focus group appear to achieve lower levels of financial performance than firms in the other two groups. Even though the traditional approach to examining the changes in financial performance for firms that implemented ISO would suggest that there are no significant differences in financial performance between the two time periods, and one may claim that adopting ISO did not help firms achieve higher levels of financial performance.

The author tries to argue by Examining belief that the financial performance of ISO compliant firms should take into account the strategic orientation of the firms under investigation, rather than pooling the firms together in an aggregate study that masks out variances in financial performance.

The application of ISO makes a considerable difference in the performance of certified and non-certified organizations. Similar findings were obtained in the examination of manufacturing factors and competitive priorities, demonstrating that firms benefit significantly.

Do they adequately address the stated research objectives? Are supporting data presented? Are tables, graphs, or figures helpful and well integrated with the text? More specifically, firms pursuing a cost leadership strategy significantly improved certain financial indices of profitability, while firms pursuing a market differentiation strategy significantly improved financial indices of turnover growth and, consequently of market growth.

Thus, it is clear that the ISO is not a paper driven process without real effects on financial performance. The limitation is that the result is made in Greece and every country has its own system these study is made in the period from to and from to in these two periods.

Different scholars examine difference conclusions but the time or the period where the data is assessed has its own limitation to conclude in the present time. The research finding is businesses following a cost leadership strategy, in particular, considerably improved certain financial indices of profitability, whereas firms pursuing a market differentiation strategy significantly improved financial indices of turnover growth and, subsequently, market growth.

As a result, it is evident that ISO is not a paper-driven procedure with no meaningful impact on financial performance.

In the present research we have established an individual relationship between strategic orientations, performance based on financial indices. In the future is used as a document, guide and reference. In future research, other theoretical frameworks capturing strategic orientation should also be used, while approaches measuring firm performance other than financial performance should also be incorporated.

Such methods should be extended to address issues of business performance beyond strict financial performance. Does the author recommend the revision of theory or practice in the field?

The author recommended that there are a no dramatic differences in the financial performance of firms in the two time periods. All studies reviewed in this work have compared ISO adopters and non-adopters. When examining the effects of ISO on corporate performance, failure to acknowledge the relevance of strategic direction will result in significant bias. In this paper, we grouped firms that implemented ISO into three strategic orientation groups and investigated the consequences of the adoption on different financial performance parameters.

It is demonstrated that when businesses are pooled together, there are no statistically significant variations in financial performance before and after adoption. Is the research timely and worthwhile? Different countries have different cultures cultural context in another way depending on the growth of the economy the business sector might be modern or traditional but the big picture is that they all uses business for their day to day life so the author uses an adequate research design so that all people or firms can uses these articles flexible.

Are you aware of any significant omissions or errors that might affect the validity or reliability of the research? Are the results original and significant? Privacy Policy. Password recovery. Medicos Library. Medical Books. Please enter your comment! Please enter your name here.