The influences of the downsizing strategy on business structures

Abstract Purpose: This paper investigates the effectiveness of the downsizing strategy when applied to the Telefónica case. Design/methodology/approach: By using the Event Study method, we present the relationship between downsizing strategies and results. Statistical significance of results was analyzed using t-statistics analysis. Findings: Results are significant, proving that the downsizing strategy brought about greater profitability and better funding, leveraging company market values. Originality/value: Results indicate that downsizing is a strategy alternative that allows for better adaptation, if carried out proactively and associated to changes that are necessary within organizational structure and processes.

摘要
研究目的：本研究旨在探讨精简战略（downsizing strategy）应用于西班牙电信（Telefónica）案例时的有效性。
研究设计与方法：本文采用事件研究法（Event Study method），剖析精简战略与企业经营成果之间的内在关联，并通过t统计分析检验研究结果的统计学显著性。
研究发现：本次研究结果具备统计学显著性，证实精简战略可提升企业盈利能力与融资能力，同时提振公司市场价值。
原创性与价值：研究结果表明，若能以主动前瞻性的方式推行精简战略，并配合组织结构与业务流程的必要变革，精简战略可作为一种战略备选方案，助力企业实现更优的适应性调整。