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Competitive advantage for industrial companies by value-based management of health care – results from research projects published in European Management Journal
Wouldn’t it be time to treat our employees as good and systematic as we treat our technical equipment and assets? How do we do that and how do we make sure we get positive, bottom-line results from that investment? These questions are increasingly on the mind of top managers in industrial firms because their competitive advantage is more and more depending on their people and not the equipment they produce.
Especially project-based companies changed their business model and nowadays deliver a major part of their value-added through services and therefore need to invest in their employee’s ability to work. For example, the burn-out of a project manager means the company will lose a valuable expert, and it directly affects the outcomes of the project and the customer relationship. As a result, it affects the competitiveness of the company. But how to systematically invest in the employees’ ability to work?
PBI Research Institute in collaboration with Hoffmanco International Oy and Åbo Akademi investigated the management methods for companies to invest in occupational healthcare in order to increase competitive advantage. The results show that employees’ ability to work can be improved while at the same time keeping health costs below the industry average. If you want to know more about this management method and how it saved Metso Corporation € 11.5 Mio in 2006 alone, please read our article published in European Management Journal, or contact us directly.
Parvinen, L.A., Windischhofer, R., Gustafsson, M., Competitive advantage through value-based health care: The case of Metso Corporation, European Management Journal (2010). Article in print and already available on-line at www.sciencedirect.com .
Contact:
Richard Windischhofer, Ph.D. (Management)
Åbo Akademi & PBI Research Institute, Tel: +358 40 84 64 854, richard.windischhofer@pbi-institute.com
Lasse Parvinen, CEO, Hoffmanco International OY
Åbo Akademi & Hoffmanco International OY, Tel: +358 40 52 55 481, lasse.parvinen@hoffmanco.fi
Magnus Gustafsson, Acting Professor, Industrial Management
Åbo Akademi &PBI Research Institute, Tel: +358 40 55 40 507, magnus.gustafsson@pbi-institute.com