Management

The Impact of Structural Prescriptions on Joint Venture Survival* Full Text
Vol. 21, No. 2, p. 43
Jeffrey Kaufmann, Iowa State University
Hugh M. O’Neill, The University of North Carolina at Chapel Hill
Anne S. York, Creighton University

Prior research on joint ventures using both legal and strategic perspectives provides several transaction cost-based prescriptions for structuring joint ventures to minimize the threat of opportunistic behavior by venture partners. However, the effects of these prescriptions on the subsequent survival of the alliance are largely untested. Using survey data from senior managers responsible for alliance participation to explore these relationships, results show that many of the prescriptions that impact venture formation also impact survival, but in a somewhat different and more complex manner than previously thought. Managers desiring to influence the long-term survival of a joint venture should focus on the factors that best fulfill their goals for the partnership. By clarifying these issues we seek to inform our understanding of how the transaction cost-based prescriptions influence alliance survival, enhance managers’ ability to capture the gains from this potentially valuable strategic tool, and raise important considerations for future research.

Implementing Planned Change: An Empirical Comparison of Theoretical Perspectives Full Text
Vol. 20, No. 2, p. 59
Matthew W. Ford, Northern Kentucky University
Bertie M. Greer, Northern Kentucky University

 

Planned organizational change has been viewed from a variety of conceptual perspectives, and a plethora of variables that impact the change process have been pro-posed. However, few empirical studies have investigated the relationships thought to exist among change process variables. Drawing from questionnaire-based data obtained from managers involved in the implementation of change, we evaluate three plausible change model configurations using multivariate methods. Findings from the study support a dynamic change process configuration over a direct effects model. Results, discussion, implications and direction for further research are offered.

A Success Versus Failure Prediction Model for the Real Estate Industry Full Text
Vol. 20, No. 1, p. 47
Robert N. Lussier, Springfield College

The purpose of this study was to use the Lussier (1995) generic success versus failure (S/F) prediction model to develop a real estate industry specific model (S/F = ƒ [industry experience, age, advisors, planning, capital]). Using logistic regression analysis, the Lussier model (p = .028) and the real estate agency model (p = .001) are significant predictors of business success and failure. The Lussier model accurately predicted 84 percent of the surveyed successful and failed matched pairs agencies as being successful or failed and the real estate model predicted 74 percent. The Lussier model explained 68 percent of the variance of contributing factors to success versus failure and the real estate model explained 56 percent. Implications are discussed.

Recognizing Decline: The Role of Triggers Full Text
Vol. 20, No. 1, p. 21
C. Gopinath, Suffolk University

Existing models of decline and turnaround assume an automatic initiation of a turnaround strategy when decline occurs. However, extended decline over time suggests that the turnaround strategy did not match the causality and severity of the situation. Borrowing from the crisis management literature, this paper argues that a triggering event or events needs to shock incumbent management into realizing that different action is called for. Such triggering events, or triggers, also play a role in the turnaround process by influencing strategies and inducing management changes. Incorporating the need for, and role of, triggers in understanding the decline/ turnaround sequence helps explain the iterative and non-sequential nature of this process.

The Social Responsibility of Management: A Critique of the Shareholder Paradigm and Defense of Stakeholder Primacy
Full Text
Vol. 18, No. 2, p. 57
Frederick R. Post, University of Toledo

In their second attempt to resuscitate the old simplistic Adam Smith theory of shareholder primacy, the shareholder theory, authors Philip R. P. Coelho, James E. McClure and John A Spry (hereinafter referred to as the authors) again mount a vigorous attack on the stakeholder theory. They persist in an effort to discredit the stakeholder theory by declaring it unworkable because it is vague, ambiguous and inconsistent. The authors rest their defense of shareholder theory on their belief that profit maximum for the shareholder owners while staying within the boundaries of the law produces ethical decisions subsumed within their unique definition of how an ethical decision is measured. New is an assault on my response article, characterizing it as factually mistaken, inconsistent and confused about the contents of their first article, about how (they believe) corporate capitalism works and about how I do not understand the dire consequences of the stakeholder theory. New also is the assertion that shareholder theory actually involves ethical reasoning. This "reasoning" evaporates when analyzed in the context of the hypothetical examples presented by the authors. Misbehavior in many large publicly traded corporations has reached such an epic level in the last decade that Friedman's admonition "to make as much money as possible for the owners and follow the law" seems irrelevant. The virtually unchecked, unregulated concentration of power in the hands of a tiny elite few has wreaked havoc on all of the other stakeholders who depend upon long term corporate survival for their own livelihood. The authors have rhetorically questioned the ability of proponents of the stakeholder theory to "identify just one ethical problem that management faces that would be better resolved by their stakeholder paradigm than the shareholder theory"? I will provide them thirteen examples of presently occurring, often perfectly legal, gross abuses of corporate power by the tiny elite few which operate to the detriment of other stakeholders. I contend that these abuses would stop or be significantly reduced if held to account by the other five stakeholders based upon the controlling test: does this act/practice result in the best long term survival interests of this corporation? I do not expect to convince these authors of the veracity of my positions. Whatever strength my arguments may have, the authors will be of the same opinion still. I do hope to address the readership so they will have a better understanding of the issues and why the stakeholder theory better addresses those issues. The purpose of this article is to first, correct the misrepresentations and misstatements about the positions presented in my first article and, second, to clarify these positions and address the criticisms made about them. Finally, in my conclusion, I will answer their rhetorical question by providing thirteen examples of presently occurring management abuses and demonstrate why the shareholder theory tolerates them but the stakeholder theory would put an end to them.

The Social Responsibility of Management: A Reprise
Full Text
Vol. 18, No. 2, p. 51
Philip R.P. Coelho, Ball State University
James E. McClure, Ball State University
John A. Spry, University of St. Thomas

Frederick R. Post’s response (2003) to our paper (“The Social Responsibility of Corporate Management: A Classical Critique,” 2003) is factually mistaken, inconsistent, and confused over: 1) the contents of our paper, 2) how corporate capitalism works, and 3) the consequences of what he advocates. This reply discusses these points, and revisits both our critique of the stakeholder paradigm and defense of shareholder primacy.

The Enron Scandal and the Neglect of Management Integrity Capacity
Full Text
Vol. 18, No. 1, p. 37
Joseph A. Petrick, Wright State University
Robert F. Scherer, Cleveland State University

The nature, value, and neglect of integrity capacity by managers and the adverse impacts that Enron executive practices have had on a range of stakeholders are delineated. Explained is how moral competence in management practice is addressed by each dimension of the management integrity capacity construct (process, judgment, development, and system) and how Enron executive practices eroded each dimension. Specifically addressed is how behavioral and moral complexity can be utilized to balance the competing values of management and ethics theories to reduce the likelihood of future Enron-like managerial malpractice. Finally, three positive action steps are recommended to improve managerial integrity capacity and remedies are proposed for victimized Enron stakeholders.

A Response to "The Social Responsibility of Corporate Management: A Classical Critique"
Full Text
Vol. 18, No. 1, p. 25
Frederick R. Post, University of Toledo

The Social Responsibility of Corporate Management: A Classical Critique argues that the Shareholder Theory, which the authors refer to as the "Friedman Paradigm" represents the only intellectually and ethically meritorious model for assessing corporate social responsibility. This response argues that the 19th Century Shareholder Theory is based upon numerous factual and legal inaccuracies and fictious when evaluated in the context of the modern era. Requiring that management serve only the interests of the shareholders is morally untenable. The author's assertion that the competing theory, The Stakeholder Theory, is unworkable is based upon both a misunderstanding and misinterpretation of the Theory. Refinements and clarifications about who qualifies as a Stakeholder make the Stakeholder Theory both workable and a very useful way to improve corporate governance. Now is the time to apply The Stakeholder Theory as part of the ongoing process of improving the moral and social responsibility of corporation management.

The Social Responsibility of Corporate Management: A Classical Critique
Full Text
Vol. 18, No. 1, p. 15
Philip R. P. Coelho, Ball State University
James E. McClure, Ball State University
John A. Spry, Ball State University

Calls for “corporate social responsibility” are widespread, yet there is no consensus about what it means; this may be its charm. However, it is possible to distinguish the fiduciary obligations owed to shareholders as expressed by Milton Friedman from all other paradigms of corporate responsibility. Friedman maintains that: “… there is one and only one social responsibility of business – to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition, without deception or fraud.” All other paradigms argue that corporations have social responsibilities that extend beyond the pursuit of shareholder benefits to “stakeholders.” The list of cited stakeholders is ill-defined and expanding, including non-human animals and non-sentient things. This paper defends the intellectual and ethical merits of fiduciary duties, and compares and contrasts it to the stakeholder paradigm. The fiduciary duty to firms’ owners is the bedrock of capitalism, and capitalism will wither without it.

The Changing Roles of Managers within the Supply Chain Networks: Theory and Practical Implications  Full Text
Vol. 15, No. 2 p. 33  
Milorad M. Novicevic, University of Wisconsin--La Crosse
M. Ronald Buckley, University of Oklahoma
Michael G. Harvey, University of Oklahoma

The purpose of this paper is to provide a theory-based explanation for the emerging managerial role set within supply chain networks. As managing within supply networks requires a portfolio of capabilities, the emerging managerial role set is explained utilizing a combined knowledge-based view and relational contracting theoretical perspective. The multiple foci of the manager's role set within supply networks is associated with unique challenges that are also examined. Based on the analysis of these new challenges for supply chain managers, the managerial and research implications are outlined. In conclusion, specific managerial actions, which are necessary in supply chain networks to engender the development of trust and social capital in supply networks, are explained.

Technology Support for Knowledge Management  Full Text
Vol. 14, No. 2, p. 13  
Renee M. Wachter, Ball State University

Finding the optimum way to leverage the resources of a firm remains a prominent issue for organizational management. Increasingly, firms are realizing that the ultimate organizational resource is the knowledge that resides in the minds of employees and is embedded in the processes, products, and services of the firm. Knowledge has been identified as the new basis of competition in a post-capitalist society and has been considered the only unlimited resource. The focus of knowledge management is to capture information which resides in the individual and group experience. This paper discusses the types of knowledge found in organizations, the reasons for which knowledge is sought, and the role of technology in the facilitation of the codification, conversion, and management of knowledge. Specific examples from companies such as Shell, Coopers & Lybrand, Chase Manhatten, and others illustrate the concepts presented.

 

Managing Process Capability  Full Text
Vol. 14, No. 2, p. 7  
Susan K. Humphrey, Management and Technical Consultant
Timothy C. Krehbiel, Miami University

Process capability is the ability of a process to consistently meet specified customer-driven requirements, and is often reported in terms of capability indices and ratios. In this paper we briefly discuss these indices and ratios, as well as their managerial implications. We then introduce a graphical approach that can be used in monthly reports and team meetings to help visualize the capability of a process that has several quality characteristics. These graphs, which we refer to as capability graphs, have been well accepted by a number of managers in the consumer products industry. The methodology is illustrated via an in-depth example.

 

Situational Leadership: Conversations with Paul Hersey Full Text
Vol. 12, No. 2, p. 5  
John R. Schermerhorn, Jr., Ohio University

My interview with Paul Hersey took place over a period of time during the beautiful Southeastern Ohio autumn. It was all opportunity. Paul had returned to Ohio University to serve as a distinguished visiting professor at an institution where his academic career had begun some years previously. I knew that he was coming to OU, but I had never met the man. Of course, his leadership model had been part of my textbooks and courses for years. Then one day at the start of fall quarter, a new face appeared in my office door. Tanned, mustached, and with an air of confidence, there was no mistaking its identity. "You must be Paul Hersey," I said. "Hi," came the reply as a strong hand reached out to shake mine. "Dewey Johnson told me you were a good guy," said Paul, "I wanted to say hello."

And say hello he did. That first meeting led to many sessions in which I had the opportunity to ask questions relating to Paul's leadership ideas, their origins, and their global applications. Just as important, though, our conversations allowed me to travel with him through a career of international professional recognition, consulting assignments with the premier corporations of our day, and the accomplishments of true entrepreneurship. Finally, I enjoyed his ideas about teaching and learning, ideas conveyed to me with the same excitement his students must have felt when he entered his first class at Ohio University and announced the topic for the day – leadership!

What follows is a question-and-answer selection from my interview with Paul about leadership ideas. The goal of the presentation is to provide a historical context for Situational Leadership, and to better acquaint readers with his some of Paul's personal views and interpretations. For added background, a summary of Situational Leadership is reproduced here, along with a figure describing the model in detail.

Managing the Costs of Power Full Text
Vol. 12, No. 1, p. 41 
Lane Tracy, Ohio University

Executives generally desire more power because it is useful. Business firms likewise try to gain power over each other. Yet power also has costs that should be considered and managed. There are costs of acquisition, storage, and maintenance of the resources that supply power, as well as costs of using those resources to gain influence. This article analyzes those costs and suggests ways of minimizing them.

Management Forecasting:
Survey Findings and Business Implications Full Text
Vol. 12, No. 1, p. 35 
Nada R. Sanders, Wright State University

Accurate forecasting is one of the most critical issues for business planning. Knowing how best to generate forecasts and how others are performing this function is important information for managers. This study reports on forecasting practices in US firms based on a survey of 500 companies. In addition to information on techniques and software used, this survey attempts to gain insights into managerial forecasting practices. These include identifying common causes of forecast errors, typical problem areas, and plans for the future to improve forecasting. Based on these findings specific implications for managers are developed.

The Use of Work Teams in Organizations: An Analysis of Type and Implementation Full Text
Vol. 11, No. 1, p. 55 
William LaFollette, Ball State University
Jeffery S. Hornsby, Ball State University
Brien N. Smith, Ball State University
William I. Novak, Jefferson Smurkit Corporation

This paper examines self-directed work teams (SDWT) from a social psychological perspective. It is asserted that SDWTs, and other types of work teams, are part of a continuum of teamwork and member autonomy. Also, SWDT development is related to social psychological concepts of group formation. Common barriers to work teams are discussed. Conclusions emphasize the need for organizations to match the types of teams to their specific needs and resources.

The Development and Application of Priority Profiles Full Text
Vol. 11, No. 1, p. 37 
R. Dan Reid, University of New Hampshire
Craig H. Wood, University of New Hampshire

Strategic management research and practice suggest that consistent decision making across functional lines of business can improve profitability. Using a survey database of 123 manufacturing firms, three unique strategies are identified in this study which reflect emphasis on different combinations of competitive priorities: customer service, high product performance, and product cost or value. A diagnostic tool called priority profiles is developed to measure the relative consistency of decisions across selling, manufacturing, and purchasing functions. Examples are included.

The Business of Integrity Full Text
Vol. 9, No. 1, p.3 
Kent C. "Oz" Nelson, CEO, United Parcel Service

There are at least three basic rules to succeeding in business--and in life, for that matter: take pride in your appearance, always do what you promise, and learn to lead others selflessly. These three hallmarks describe our way of life at UPS. These three simple concepts are also directly linked to what is perhaps the most critical element for success in the business world: integrity in one's conduct. On the face of it, most of us think that integrity means having good character and adherence to a code of ethics. But it also means making sure everything holds together with grace and power--being complete. If a structure has integrity, you can't shake it loose. That goes for a skyscraper and that goes for a person's character--and it goes for a company, too. At UPS, we believe that providing a framework for people's growth, integrity, and values, is at least as important as providing a living to employees and service to customers.

Quality Service and The Taguchi Philosophy  Full Text
Vol. 9, No. 1, p.7 
Timothy C. Krehbiel, Miami University

Genichi Taguchi has made major contributions to the fields of quality philosophy, engineering, experimental design, and data analysis. Taguchi's contributions to the field of quality philosophy are his most significant. The Taguchi philosophy has greatly expanded and clarified the concepts of robust products and on-target performance. These two quality concepts have been widely embraced by manufacturers in Japan, Europe and the United States, but have largely been ignored or undiscovered by the service sector. Critical examination, however, suggests that the Taguchi philosophy can be applied to service operations.

Conflict and Divided Loyalty: A Fundamental Leadership Dilemma Full Text
Vol. 8, No. 2, p.21
Lane Tracy, Ohio University

Conflict is inherent and unavoidable in any organization because the individuals who comprise its leadership face divided loyalties. They must make decisions for the organization, for themselves, and often for departments, groups, or other organizations as well. Additionally, decision making at any level may be divided and shared among two or more individuals or groups. Conflict is generated within leaders because (1) they must represent the sometimes incompatible interests of two or more systems, (2) they frequently receive incompatible commands from two or more levels of the hierarchy. Such conflicts may be managed by compartmentalizing decisions, setting priorities, homogenizing the interests of the organization and its leaders, and setting up a system of checks and balances. Analysis suggests that the best strategy for the organization is to encourage a moderate amount of pluralism in the values of the leaders, coupled with a set of checks and balances to assure that all interests are adequately represented, even though this strategy may sometimes stifle creative leaders.

Loyalty, Value Congruency, and Affective Organizational Commitment: An Empirical Study Full Text
Vol. 8, No. 2, p.29
Isaiah O. Ugboro, North Carolina A&T State University

This paper reports findings of a study designed to test a hypothesized relationship between generalized values of loyalty and duty; individual and organization value congruency; and organizational commitment offered by Yoash Wiener. He argued that, "a fuller explanation of individual behavior in an organization requires a consideration of effect of generalized values of loyalty and duty." These generalized values are considered to be a person's predisposition or internalized normative pressure to be committed to institutions such as family, friends, country, and work organization as a result of primary socialization with a culture that places premium on loyalty to institutions or organizations (Weiner 1982).

While the results show some evidence to support existence of generalized value of loyalty and duty among employees, it did not, for the most part, significantly correlate with measures of organizational commitment. Measures of value congruency, however, were found to significantly correlate with those of organizational commitment. The conclusion that primary cultural socialization should be considered in employee selection process (even though illegal) for the purpose of identifying and selecting individuals who are generally predisposed to commit to organizations, is not supported.

Computer Usage Patterns in the Construction Industry: An Empirical Study Full Text
Vol. 8, No. 1, p.11 
Marwan A. Wafa, University of Southern Indiana
J. Michael McDonald, Georgia Southern College
Mahmoud M. Yasin, East Tennessee State University

This study examines computer usage patterns in the U.S. construction industry. One hundred and seven subjects, consisting of managers at different managerial levels and professional support staff, participated in this study. This study shows that the subjects exhibit significant differences with regard to their extent of use, nature of use, and degree of satisfaction with decision support systems. Implications of these findings to decision support systems design and effective utilization are discussed.

Alliances and Networks: Cooperative Strategies for Small Businesses  Full Text
Vol. 8, No. 1, p.17 
Inga S. Baird, Ball State University
Marjorie A. Lyles, Indiana University
J. B. Orris, Butler University

Research on large firms shows that cooperative strategies have the potential to improve performance by helping firms gain access to necessary resources, enter new markets, and spread the risk over several partners. Interviews with thirty-four small business managers show small firms also can profit from using a cooperative network. Highly-allied small businesses entered alliances to gain resources and based their alliances on a distinctive competence. The highly allied businesses grew more rapidly than the less allied firms. Mutual goals and joint decision making were viewed as critical to the high level of satisfaction achieved.

Learning Styles and Corporate Training Full Text
Vol. 7, No. 1, p.3
Charlotte Wenham, Western Michigan University
Raymond E. Alie, Western Michigan University

This study attempts to verify if occupational groups demonstrate distinct learning styles and learning context preferences, and to assess the implication of any systematic differences for corporate training. Subjects were 140 members of seven occupational groups from a support component of a Fortune 500 firm. Data on learning styles were gathered using the Gregorc Style Delineator (GSD) and the Productivity Environmental Preference Survey (PEPS). It was posited that learning style and productivity preference would vary by occupation, and that a measure of association would exist between learning style and productivity preference within occupations. Two of three hypotheses formulated for the study were supported by the data.

American Competitiveness: Dysfunctional Stakeholder Communications Full Text
Vol. 7, No. 1, p.11
Stephen L. Payne, Eastern Illinois University
Robert A. Giacalone, University of Richmond

Among the factors contributing to competitiveness problems for many American firms is the presence of excessive and inaccurate self-presentations and resulting defensive communication routines among managers in these firms. Suggestions are provided to identify and reduce conduct leading to these dysfunctional tendencies, but caution is urged in recognizing the difficulties and potential ethical dilemmas that may occur in trying to resolve these problems. Any discussion of future American Competitiveness should involve global changes and economic patterns, national trade policies, and manufacturing and quality control. However, executives should also examine questionable managerial communication in firms.

The Organizational Effectiveness Menu: A Device for Stakeholder Assessment Full Text
Vol. 7, No. 1, p.18
Kenneth L Kraft, University of Tampa
Lawrence R. Jauch, Northeast Louisiana University

A procedure to assess organizational effectiveness is proposed in this paper. An OE "menu" of options is set out by which organizational performance can be measured. By using such a menu, managers' decision making, planning, and communicating with internal and external constituencies can be enhanced.

Franchising: A Growth Strategy for the 1990's Full Text
Vol. 7, No. 1, p.35
John F. Preble, University of Delaware

The strategy of franchising has become an increasingly important growth option for firms operating in today's highly competitive marketplace. This paper describes the present status of franchising and provides managers with practical, strategic guidance on its use. Three general forms of franchising have emerged which can be employed by the franchiser depending upon company objectives. It is also shown in this paper that a portfolio matrix model can act as a useful tool to aid decision-makers in selecting and employing franchising strategies both domestically and in world markets.

Decision Analysis at the Crossroads Full Text
Vol. 7, No. 1, p.53
Jayavel Sounderpandian, University of Wisconsin-Parkside

Empirically observed violations of traditional expected utility theory have prompted several new theories, putting the future of decision analysis at the crossroads. This essay describes the current status of the literature through selected examples of decision making scenarios. It concludes that if all relevant consequences of all alternatives are included in the analysis, then expected utility theory would prove to be valid. Practitioners who use techniques or software based on expected utility theory need only to make sure that they have considered all relevant consequences, and need not worry about the new non-expected utility theories.

The Risk-Threat Matrix: Key to Defensive Strategy Full Text
Vol. 6, No. 2, p.39
Henry H. Beam, Western Michigan University
Thomas A. Carey, Western Michigan University

Managers have traditionally concentrated on the offensive aspects of strategic planning. With a few important exceptions, the strategic planning literature is also heavily weighted toward offensive considerations. Yet two fields to which business is frequently compared, the military and sports, often give defensive considerations as much emphasis as offensive ones. The purpose of this article is to stress the importance of defensive considerations in strategic planning. A risk-threat matrix is developed which managers can use as a guide to formulating defensive strategies to counter the full range of potentially detrimental situations their firms may face.

Achieving Performance Excellence: Training the Trainer Full Text
Vol. 6, No. 1, p.23
Jerry M. Kopf, Western Michigan University
Jerry Kreuze, Western Michigan University

During the last decade many organizations have reduced the number of middle level managers and shifted the emphasis in managerial work from the traditional functions of motivating and controlling to the less familiar roles of coach, facilitator, and trainer. What has not been recognized is that not only are managers unfamiliar with these new roles, they are often unprepared for them. Little in their educational background or work experience has prepared them for the role of facilitator, coach or trainer. This paper uses the Experiential Learning Model, which provides an overview of how people learn, as a basis for identifying common mistakes managers make in teaching new tasks, and to suggest ways for managers to improve their effectiveness as trainers.

Agricultural Options As A Management Tool Full Text
Vol. 6, No. 1, p.51
Philip Gregorowitz, Auburn University, Montgomery
H. Dean Moberly, Auburn University, Montgomery

Agricultural markets for commodities have tended to be unstable with high variability in prices received by producers from year-to-year. These conditions have always made production planning very risky over time. For this reason and others, since 1933, the federal government has supported commodity prices in one fashion or another at or near break even. Support programs have put pressure on the annual federal debt. This paper investigates the use of private agricultural options contracts as a price risk management tool. Use of put options was compared for four commodities to the use of forward pricing, the use of cash prices at harvest and the use of futures as commodity pricing strategies. Private put options were found to be useful alternatives to the use of government price supports in some commodity price situations. The paper suggests that the use of option contracts provides additional flexibility in price risk management and in dealing with uncertainty. This knowledge was found to be especially useful in light of current cuts in federal price supports in current federal budgeting activity.

Bringing Business Experience to the Nonprofit Sector: What Works and What Doesn't Full Text
Vol. 6, No. 1, p. 58
Roger L. Moore, The Pennsylvania State University
Alberta A. Vicere, The Pennsylvania State University

Five distinguishing characteristics of nonprofit organizations are identified and explored. They are: a different and more complex environment, more altruistic purposes with strong traditions, importance of motivating and rewarding volunteers, staff structures that exist in parallel with volunteers, staff structures that exist in parallel with volunteer structures, and frequent short-run/annual budget orientations as opposed to effective strategic planning.

The authors reject the notion that nonprofit management should be different from that in the private, for-profit sector, but emphasize that these five characteristics must be recognized and addressed before attempting to directly apply business experience to nonprofit environments.

After Bhopal and Valdez: Rethinking the Semantics of Public Relations Full Text
Vol. 5, No. 2, p. 3
James P. Hill, Central Michigan University

Has the public affairs function significantly changed the way major U.S. corporations meet the growing external challenge to traditional corporate practices? Examining in detail the actions of Exxon (Valdez) and Union Carbide (Bhopal), this paper raises some questions as to whether the difference raises some questions as to whether the difference between public affairs and traditional public relations is a real one or merely a matter of semantics. Then, utilizing an unpublished corporate public affairs survey conducted by Central Michigan University, the writer argues that the problem with the public affairs function lies not with the function itself, but in its implementation by corporations.

From Strategic Plan to Strategic Practice Full Text
Vol. 5, No. 2, p. 60
Kenneth J. Calhoun, Slippery Rock University
Albert L. Lederer, Oakland University

A key to the effective implementation of strategic plans is the communication of the strategic plans to executives in functional areas. A study of eighteen organizations revealed that their functional executives' knowledge of the strategic plan was closely tied to their corporate planners' assessment of the quality of the communication of the plan. In contrast, the functional executives' knowledge was not so closely tied to the planners' assessment of merely the quality of the business plan itself.

Different organizations use different communication tactics. These tactics suggest practical actions to enable strategic planners to improve the communication of their plans.

 

The Challenge of Negotiations Full Text
Vol. 5, No. 1, p. 9
Richard C. Scamehorn, Ohio University

Negotiation, often neglected in both educational and job settings, is a skill which can be a key to success in management.

How to Create a Corporate Competitive Intelligence System Full Text
Vol. 4, No. 2, p. 3
N. Carroll Mohn, The Coca-Cola Company

Five basic elements of an effective competitive intelligence system designed to meet management needs are outlined.

Rediscovering Creativity–Unlearning Old Habits Full Text
Vol. 4, No. 2, p. 11
Frank J. Sabatine, Ball State University

U.S. workers and managers must learn to change habits that prevent them from exercising their innate creative talents.

Criteria For Excellence In Organization Development: Perceptions and Actualities Full Text
Vol. 4, No. 2, p. 29
Albert S. King, Northern Illinois University

This article presents a comparative survey of organizations of criteria for management excellence and their relevance to developing business organizations. The relationship between managers' ranking of criteria, their perceptions of the best well-managed corporations' rankings of the same criteria, and what excellent organizations' actually value, discloses critical areas of agreement among managers and discrepant perceptions of excellent organization's evaluation of priorities of achieving excellence.

Findings demonstrate descriptive insights of developing organizations' extrinsic views and the best well-managed business corporations intrinsic evaluations concerning organization development efforts to achieve management excellence. The Survey results highlight, with respect to criteria for management excellence, how removed developing business organizations are in crucial areas affecting preparation of management for seeking corporate excellence. Concomitant requirements for establishing better understanding of dialectics and more effective dialogue between theorists, consultants, and practitioners in important areas are reviewed.

Communicating Strategy: The Best Investment a CEO Can Make Full Text
Vol. 4, No. 1, p. 3
Marty W. Barrett, Borroughs Manufacturing Corp.
Thomas A. Carey, Western Michigan University

The development of a business strategy is widely believed to be one of the major responsibilities of the chief executive officer. Yet, an effective strategy can accomplish nothing unless it is effectively communicated, and communicating strategy effectively is a major stumbling block for many CEOs. The troops simply won't follow if they don't know where they are going and what they are to do.

 

The Natural Planning Model Full Text
Vol. 4, No. 1, p. 11
David R. Allen, Insight Consulting Group

A "natural" planning model is proposed, encouraging individual creativity and effective, flexible teamwork.

A Method for Diagnosing the Right Problem Full Text
Vol. 3, No. 2, p. 32
Marvin E. Darter, Rider College
William Acar, Kent State University
William J. Amadio, Rider College

Solving the wrong problem is a common occurrence is business practice. This paper presents a straightforward procedure that can be used by a decision-making unit to ensure a more complete diagnosis during problem formulation, and suggests a solution investigation scheme. The basic idea is to avoid wasting precious time treating symptoms instead of problems, and also to gain time during the diagnostic process by starting with a conceptual framework about the nature of problems.

Given the changing structure of the American economy, many people (researchers and practitioners) have become particularly interested in the role that labor unions will play as we prepare to enter the twenty-first century. In this paper, I review some of the basic problems that labor unions have faced in recent years and then outline three alternative scenarios for the future of the labor movement.

 

The Restructuring of Corporate America: Returning Control and Profits to the Owners of America's Business Full Text
Vol. 3, No. 1, p. 3
T. Boone Pickens Jr., Lecturer and author

Does American corporate management make itself vulnerable to takeovers by spending too much on diversification rather than distributing the profits to stockholders? If so, what can stockholders do about it?

Innovation: The Spirit of America Full Text
Vol. 2, No. 2, p. 3
L.W. Lehr, Retired CEO

How can business firms take advantage of America's culture of innovation? The key according to Lehr, retired Chairman of the Board of the 3M Corporation, is to provide employees with challenge, opportunity, and rewards for innovation.

 

Business-Government Relations: Attitudes of Involved Private Sector Managers Full Text
Vol. 2, No. 2, p. 45
Steven L. Wartick, Pennsylvania State University
John W. Bagby, Pennsylvania State University
John M. Stevens, Pennsylvania State University

This paper looks at the current business-government relationship from the perspective of private sector managers who were involved in a cooperative business-government program. The attitudes of this participant group are considered in terms of three general themes in the business-government relations literature: (1) the government is the opposition, (2) the private sector is superior to the public sector, and (3) government activity needs to be reduced. The results of the study indicate that the respondents disagree only with the first of these themes. The implications of these findings in terms of understanding business-government relations are also addressed.

 

Executives: The World's Worst Communicators Full Text
Vol. 2, No. 1, p. 3
Robert E. Levinson, Former Group Vice President of American Standard Inc.

Hostile Corporation Takeovers: Why and How Their Numbers Grow Full Text
Vol. 2, No. 1, p. 4
Carol J. Billingham, Central Michigan University

Hostile corporate acquisitions, which were virtually non-existent a decade ago, have currently become one of the most publicized types of business transactions. Rumors about takeovers have had an enormous impact on stock market trading volume and price behavior for the past several years. This paper traces the legal, regulatory, and financial developments of the 1980's which have created an environment favorable to hostile takeovers, and it discusses controversial behaviors of corporate acquirers and defenders.

Reframing the Argument for National Plant-Closing Legislation Full Text
Vol. 2, No. 1, p. 15
Nancy Kubasek, Bowling Green State University

Many believe that a major problem in today's economy is the unregulated movement of physical capital. Most other industrialized nations have plant-closing legislation which prevents this problem from arising. This article explores possible reasons why proponents of such legislation have been unsuccessful in securing its passage in the United States, primarily a value preference for efficiency over equity and a restrictive definition of efficiency. Taking these reasons into consideration, the writer suggests an alternative rationale for plant-closing legislation which has not been previously voiced arguing that (1) we should focus the debate over plant-closing laws on whether they are dynamically, not allocatively, efficient, and (2) that we should consider whether the proposed legislation will help protect the most vulnerable members of our society.

 

The Analytical Hierarchy Process–An Aid to Decision Making Full Text
Vol. 1, No. 2, p. 13
Christopher Wolfe, Texas A&M University

Multiple-alternative decisions are commonplace in the business environment. The Analytical Hierarchy Process (AHP) in a business institution is a decision aid which is extremely useful for multiple-alternatives by assigning percentage points to each alternative in a decision. An explanation of the AHP and its use are given in this article. AHP applications covering forecasting, pricing and budgeting decisions are also discussed. The quantitative rankings generated by AHP offer the decision maker insight and rigor unavailable in a purely judgmental analysis.

A common problem for managers is the quantification of judgmental data. Group and individual judgments are sometimes made on an ad hoc bases with little or no documentation supporting the decision process. Alternative courses of action often are not formally ranked as to their relative importance. Questions concerning the importance of assumptions which surround decisions remain unanswered. A methodology to prioritize alternatives and assumptions in the decision process could aid in solving problems that rely on human judgment.

 

J. Dwight Peterson and the Rescue of City Securities Corporation 1930-1940 Full Text
Vol. 1, No. 1, p. 47
E. Bruce Geelhoed, Ball State University

The Great Depression presented a great challenge to the survival of many regional investment banking companies across the United States. J. Dwight Peterson, a young Indiana investment banker, embarked in the 1920's upon a bold program in various types of tax-exempt finanace–primarily municipal and university underwritings, as well as corporate finance and insurance, as part of a program designed to enhance the profitability of his enterprise.