Management Dynamics in the Knowledge Economy (E-Journal)
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Family Business Image and Reputation. A Model of the Influencing Factors, Actions, and Effects
Get PDFOne of the key elements for family business success lies in the fact that they are being perceived as companies' part of the community with an approachable image, projecting a human figure, and contributing to the local economy. Nowadays, brands are not only offering functional but also emotional benefits, seeking to be distinguished as generating positive experiences. Family businesses are being associated with the socially emerging values of modern branding. Family companies have been traditionally recognized for their trustworthiness and integrity, but now they must pay more attention to their image and to develop an intelligent strategy to protect it and the company's reputation since it is an intangible asset, recognized and assessed by the stakeholders. The family business image and reputation are influencing the companies both financial and non-financial factors, these relations being the subject of several studies. This paper's purpose is to explore the knowledge surrounding these constructs and to integrate the findings into a more comprehensive model of the influencing factors and their relationships
System Dynamics Approaches in Managing Real Estate Development Crises: Conceptual versus Scenario-Based
Get PDFReal Estate development organizations are vulnerable to crises' events due to the complexity of the external environment, internal structure, and operation systems. This paper aims to present, analyze, and compare between two proposed approaches for managing development crises based on system dynamics methodology. Twenty crises' scenarios are identified in order to be utilized in the analysis process of two approaches. These approaches are the conceptual approach and the scenario-based approach. The conceptual approach provides a framework to manage crises in a broad manner using Mitroff's model. The scenario-based approach uses crisis event characteristics to specify its containment policy. The crises' characteristics are identified by analyzing courses with time, classifying attributes, and specifying archetypes. The outcome of the analysis process for both approaches should guide developers and upgrade the quality of their decision in selecting adequate containment policies.
Challenging the Status Quo: Steel Producer Case Study on the Enterprise Value for M&A
Get PDFThe purpose of this paper is to analyze the enterprise value determinants, in order to help the interested parties make correct (investment) decisions by studying industry cases of mergers and acquisitions (M&A). In order to understand and identify value-adding opportunities for the companies, the paper investigates a divestiture within a major international steel group. The research questions refer to the understanding of the relationship between the enterprise value and market capitalization of the selected companies acting in the steelmaking field, including other factors such as the revenue, EBITDA, EPS or ownership structure. In order to understand how the enterprise value is determined, we have analyzed relevant theories, including Tobin’s Quotient (Q) for a company/ aggregate corporation, for the study of the relationship between the market value and its replacement value. If used empirically, Tobin’s q helps avoid issues of estimating shareholders’ risk-adjusted required return by the market prices. However, Q is not (yet) used in practice in the valuations of companies, because of the lack of the necessary input data. Besides using the graphical visualization of the share price, we have used the datasets available for several years on the value of several mature steel producing companies, market capitalization, and other indicators. The methodology also includes Market Comparable method and own spreadsheet calculations. After analyzing the evolution of the share price for the global steelmaking leader (ArcelorMittal), between 2009 and 2018, we have not identified any growth potential; the market value of ArcelorMittal is a proxy for the market value of its assets
Foreign Ownership, R&D and Firm Innovation in ASEAN Countries: A Generalized Ordered Logit Model
Get PDFThe study investigates the direct effects of foreign ownership and R&D on firm innovation and the moderating effects of R&D on the foreign ownership–innovation relationship in ASEAN countries. This research focus is important as ASEAN countries have received a large amount of inward FDI as part of their export-led growth strategy, and FDI can bring both benefits and negative impacts for the host country. To the authors’ knowledge, this study contributes as the first attempt to examine this topic in ASEAN. The study employs a novel approach (i.e., generalized ordered logit model (GOLM)) to deal with the restrictive “parallel regression/ proportional odds” assumption of the standard ordered logit model (OLM), which has not been adequately addressed in previous studies on the foreign ownership–innovation relationship. The findings show that foreign ownership relates negatively to the possibility of radical innovation, while R&D relates positively to the possibility of radical innovation. In addition, R&D positively moderates the effect of foreign ownership on the possibility of radical innovation. The findings verify the important role of R&D as a mechanism for absorptive capacity building in the foreign ownership–innovation relationship, which has been under-researched in prior studies on the role of foreign ownership in firm innovation. The policy implications emphasize that ASEAN governments should have more technological regulations and incentives to encourage foreign investors to bring advanced technologies and invest more in R&D
Change Management and Innovation in the “Living Organization”: The Stra.Tech.Man Approach
Get PDFThis paper is part of the broader theme of change management studies with the view to present, in particular, the approach of managing change and innovation in terms of Stra.Tech.Man (Strategy-Technology-Management synthesis). After a brief review of the principal theoretical approaches and the main study directions in the analysis of the problem of change management, this paper examines the critical dimensions in the study of contemporary organizational change perceived in the theoretical perspective of a “living organism” as against the “mechanistic” approach to organizations. It concludes by examining change management in terms of Stra.Tech.Man, expounding and analyzing the five steps of Stra.Tech.Man as a new conceptual approach to managing change
Multi-Level System of Indicators on the Activity of Innovative Technology Parks in the Sectors of Information and Knowledge Economy
Get PDFThis paper reviews the issues of multi-level system of indicators on the activity of innovative technology parks in the sectors of information and knowledge economy. The economic system of developed and developing countries is primarily based on natural and material resources. At the next stage of development, a new innovative economy based on information, knowledge, and ICT is formed through the resource advantages. In such conditions, the main economic development growth is realized in innovative technoparks. The foundations of scientific and methodological development of composite indicator system are explored, in this regard. The stages of development of hierarchical indicators system, requirements posed to them, their generalized composition and content are shown. Main group of indicators characterizing the activity of technology parks separately and its relevant function are defined. A system of multi-level composite indicators integratively reflects the main level and the lower levels coming after it. Indicators system includes the main composite index and 10 sub-indices of technoparks. Composite index contains sub-indices of significance and scalability, infrastructure and information provision, favorable business environment, investment-financial reserves and material-technical resources, innovative potential, activeness and environment, human resources and professional staff training, scientific-research, experimental developments and innovative projects, innovation products and services, effective management and creative results, socio-ecological development. The study presents the stages of successive formation of indicators and variables upon which main indices and sub-indices of technology parks functionally depend. Directions of future research are identified on the basis of indicators
The Impact of Human Resource Development on Organizational Effectiveness: An Empirical Study
Get PDFHuman resource development is a relatively new area of professional practice and academic study. Over the past two decades, human resource development has become the fastest growing area of management development, due to the great interest of organizations in the face of intense competition and changes in the business environment. Despite this significance of HRD but, there is a lack of empirical researches or studies have specifically dealt with examining how HRD practices effect on organizational effectiveness practically, in universities and institute level. This study tries to address this gap. The main purpose of this study is to investigate the relationships between the practices of human resource development and organizational effectiveness in the Iraqi public universities context. This study adopted the survey method to collect primary data. The survey was created by the google-forms tool, which is commonly used by researchers for collecting data. The web-based questionnaires were distributed through E-mail designed to collect the relevant data from the public universities of Iraq including a number of deans, heads of departments, faculty members and principals of the execution units which seems to provide a corresponding sample for conducting data collecting and analyzing. An online questionnaire was distributed to around 342 employees, out of which 215 complete questionnaires were obtained. For analyzing the data, confirmatory factor analysis (CFA), structural equation modeling (SEM) were used. This study finds that HRD practices such as talent development, training and development, organizational development and career development have a positive and significant impact on organizational effectiveness. This study has confirmed the significance of HRD practices and how they are positively related to organizational effectiveness. The results of this study have the potential to help the decision makers of universities to develop effective HRD practices which will enable them to improve employees’ competencies in enhancing organizational effectiveness. Also, this study recommends universities’ managers to use effective HRD practices which are aimed at building excellent employees’ competencies and increase the integration between human resource development and organizational effectiveness.
How to Sell a Book? Insights from Romania
Get PDFMany other famous intellectuals, artists and writers stress various positive aspects of reading. Scientific research in medicine and psychology also prove the positive outcomes of reading. Therefore, it is not a surprise that books are highly valued by societies. Nevertheless, book reading seems to be a rarity in some societies. Although reading is beneficial, the book market is not flourishing in many countries, including Romania. The present paper sets a framework for developing marketing strategies that could be used by Romanian publishers to attract more readers. The methodology comprises two parts. A first section is dedicated to the Romanian book market. Investigating its specificity helps us pinpoint the references for successful marketing strategies. The second part is based on the analysis of the scarce literature on marketing in the book industry in order to identify key aspects and vulnerabilities of marketing strategy in this sector
Human Resources Practices in the Romanian Banking System: Rewards, Job Satisfaction, and Job Performance
Get PDFThis research aims to analyze the relationships established among rewards, job satisfaction and job performance in the Romanian banking system. In order to achieve this goal, a single-case study is used as a research strategy and a survey-based on a questionnaire is developed among the 60 employees the BCR-BpL branch from Bucharest, Sector 3. The relationships established among rewards, job satisfaction, and job performance are tested using Partial Least Square – Structural Equation Modelling. The results prove that: (i) rewards have a positive influence on job satisfaction; (ii) the relationship between job satisfaction and job performance is not statistically significant; and (iii) the relationship between rewards and job performance is not statistically significant. These findings have both theoretical and practical implications. On the one hand, they extend the theory from the human resources management field by analyzing the relationships established among rewards, job satisfaction, and job performance, within the Romanian banking system. On the other hand, they help managers understand the importance of using rewards as a strategic organizational tool, capable to increase employees’ satisfaction
Challenges for Banking Services in the Knowledge Economy
Get PDFIn this paper, we have covered many of the roles that banks play in the financial system. Banks act as delegated monitors that ensure that economic agents allocate their resources effectively, thus leading to the sustainable development of entrepreneurship. Moreover, they also play an important role in sharing risks in the economy and protecting economic agents against market fluctuations through various means such as financial derivatives. These are the positive aspects of the roles of banks, but it should be noted that the way banks act to ensure an acceptable rate of return can cause fragility and instability throughout the financial system. In fact, banks are most often at the center of financial crises, as in the case of the global financial crisis that began in the summer of 2007. Banks may even contribute to spreading the negative effects of these financial crises because small shocks can have major effects on the financial system and economy. Banks also play an important role by facilitating the access of economic agents to financing and contributing to the development of the economy. In addition, they are important for good corporate governance, especially in countries such as Germany where bankers hold positions on the boards of private companies and can represent more shareholders in voting decisions