Independent Journal of Management & Production
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Financial knowledge for corporate boards: what should board members know?
Get PDFAlthough there is a vast body of research on corporate governance and corporate boards, no one seems to have addressed yet the following question: What should corporate board members know of financial theory and practice to properly discharge their fiduciary responsibilities? The lack of reflection on this issue is somewhat surprising given the central role financial matters are supposed to play in board’s discussions and decision making. The objective of this study is to offer a first reflection on this question. Different views of what a corporation is and who “owns” it, whether it is only shareholders or also a broader set of other stakeholders, result in different requirements concerning the financial knowledge board members should have. One such view is agency theory which considers that the main role of management is to create value for shareholders. From this perspective it will follow that board members should understand primarily the dynamics of value creation, with the concomitant focus on long-term strategy formulation. Another view is stakeholder theory which stresses the importance of the survival of the corporation. In this case the board should be conversant primarily with short term financial management, specially cash or liquidity management. The counterintuitive result is that when the board gives priority to the interests of shareholders, in opposition to the interests of other stakeholders beyond what law and good commercial and management practice recommends, it should focus primarily on long time value creation, while the more inclusive stakeholder view requires more attention on short-term cash management
Systematic review of lean thinking in education institutions
Get PDFThe economy, culture, and social development of countries in the 21st century are directly related to the quality of education. For education to have expected quality and deliver the desired values to their client, many educational institutions are applying Lean management. Therefore, the paper aimed to explore the Lean implementation in education through a systematic review of papers from the past five years, in English and the Scopus and Web of Science databases. The methodology was developed using the PRISMA protocol and has been according to the type of approach, place of analysis, tools, facilitators, barriers, positive results, negative results, and the tendency of future work. The main results found were that 69.57% of the papers are analytical, LSS is the most discussed tool, the reduction is the main facilitator, the lack of Lean knowledge is the main barrier, and the attendance to the student obtained the best positive result
Peculiarities of Implementation of Configuration Control Processes of Integrated and Innovative Projects of Logistics System Creation
Get PDFThe analysis of the current scientific and methodological principles of project management is performed. It is established that the existing models and methods cannot be used to control the configuration of integrated projects for the creation of logistics systems. The known toolkit provides general approaches to controlling the configuration of projects and does not take into account many factors of the design environment, which determine changes in the configuration of integrated projects for creating logistics systems. It has been substantiated that changes in the configuration of integrated projects for the creation of logistics systems are due to two groups of factors. They can be assessed by four criteria based on the determination of two generalized evaluative characteristics of the influence of the factors of the design environment on changes in the configuration objects of these projects. The scientific and methodological foundations of the configuration control of integrated projects for the creation of logistics systems are proposed, taking into account the changing components of their design environment. To control the configuration of integrated projects for the creation of logistics systems, the use of project management theory and system-factor principles is envisaged, which fully take into account the peculiarities of the implementation of these projects. Based on the proposed model, the impact of internal environment factors of integrated projects for the creation of logistics systems on changes in the configuration object No. 4.1 (a specialized tank truck for transporting perishable goods) was assessed. Significance coefficients are defined for each of the assigned codes (evaluation criteria and factors that determine the configuration changes) of the configuration objects of integrated projects for the creation of logistics systems. Their numerical value is in the range 0…1 and it characterizes the significance of each of the factors for a particular object of the configuration of integrated projects for the creation of logistics systems. Quantitative assessment of the impact of design environment factors on changes in the configuration of integrated projects for the creation of logistics systems is carried out on a 100-point scale
Social business: a report on social impacts
Get PDFThe positive socio-environmental impacts generated by Social Business arouse interest in initiatives that have at their core to serve a social purpose. Social innovation seeks to contribute to the socioeconomic environment and to have a positive social impact, so that the generation of value with social innovation can contribute to a more inclusive society. The objective is to point out the importance of the impacts generated by Social Business that participate in Business Accelerators. As methodology adopts the methodological procedures of the bibliographic research. The results reveal the existence of impact initiatives generated to meet social needs
The role of moderation of organizational support on social capital effects on performance of lecturers
Get PDFThis study aims to determine how the Model of Improvement of Lecturer Performance Based on Social Capital and Organizational Support at Private Islamic Universities in Medan City. This research is basic research. The study population was all permanent lecturers of Islamic Private Universities in Medan i.e. University of Muhammadiyah Sumatera Utara, Islamic University of North Sumatra, University of Muslim Nusantara Al Washliyah, Al-Washliyah University and Al-Azhar University. However, this study only limited to Islamic universities owned by Islamic Foundation or Islamic Organization i.e. University of Muhammadiyah Sumatera Utara and University of Muslim Nusantara which amounted to 425 permanent lecturers who have functional positions as expert assistants, senior lectures and associate professors. The sampling technique in this study is the proportional random sampling with 129 samples used. The data analysis method used in this study is moderating regression analysis (MRA). The results showed that social capital had a positive and significant effect on lecturer performance and organizational support was a moderating relationship between social capital and lecturer performance
Investigating the impacts of personality traits on collaborative consumption intention of luxury fashion products among middle-aged women
Get PDFCollaborative consumption (CC) refers to the shared use of products or services in order to save costs and redistribute resources in a more sustainable way among the different agents participating in sharing economies. With the rapid popularity of CC in recent years, more and more academic research has been carried out on CC, but research exploring the impact of personality traits on consumer behavior is largely limited. To our best knowledge, existing research fails to explore CC applied to the luxury apparel context. Consequently, this study aims to investigate the impact of consumer personality traits on their attitudes and intention toward CC of luxury fashion products. This study draws a framework based on the theory of planned behavior (TPB) model introducing key personality traits, particularly, materialism, fashion leadership, and need for uniqueness as CC attitude and CC intention predictors. This research uses PLS-SEM technique to analyze the data collected through a questionnaire administered to middle-aged Spanish women. The results indicate that fashion leadership had a positive influence on attitude toward CC and CC intention. Secondly, we found that consumer need for uniqueness significantly influenced attitude but had no significant impact on intention. Materialism on the other hand did not display a significant relationship with either CC attitude or intention. By contrast, attitude towards CC was determined to have a strong positive influence on CC intention. We believe that the findings as well as the proposed research model can be helpful to managers when developing CC based business models and valuable to academics in developing related theories
Reaching more customers, delving into the unknown
Get PDFOrganizations have ineffective information management practices, and improper analytical methods and tools for innovations. As a consequence, customers are not appropriately reached, decision-making is compromised and –unfortunately- most innovations don’t achieve the desired results. In this sense and through the study of Disruptive Innovation Theory (DIT) and Job To Be Done Theory (JTBDT) –developed by Harvard Professor Clayton Christensen- it is pointed out that a novel universe of value is created for small firms and incumbents in their innovation environments. In other words, “unrevealed” areas of opportunities (or Disrupted Innovation Theory, DIT) and “undisclosed” products (Job-To-Be-Done Theory, JTBDT) take place, allowing a wide range of new organizational and social development, not only a different/better/worse known market or product. This result in an additional distinction between two antagonistic fields that coexist in the current business context: the known field (referred to sustaining innovations) and the unknown one (connected with DI and JTBD). Managers are urged to understand their differences, and theories/tools must be reconsidered to manage those opposite worlds. Therefore, the hypothesis of this investigation –which was corroborated- states that a deep understanding of DIT and JTBDT can help to reach more customers with adapted products, and to wider develop organizations and markets. It was utilized a qualitative methodology, with an exploratory descriptive study. The design was non-experimental and -within them- transversal, since the information was collected at a given moment of time
Restriction analysis: an applied view in a public educational institution of the Rio Grande do Sul
Get PDFThis study aims to analyze the applicability of the five steps of the theory of restrictions as an alternative for improving the efficiency of processes in a public organization. Methodologically the study is characterized as descriptive and exploratory, with bibliographic research and data analysis being performed qualitatively. The research was carried out in loco, through the observation technique. As main results of the research, the feasibility and importance of the application of the tool is ratified, directly impacting on efficiency and quality maximization in the services offered to society and optimizing public resources, which can be applied in other sectors of our society. With the efficiency in achieving the applicability of the five steps of the theory of restrictions, the management and identification of the bottleneck in the process of cooperation agreements contributed to speed up public service. The research becomes relevant since it encourages the application of the theory of restrictions in public entities, being a tool for identifying restrictions in processes, providing greater protection against human weaknesses and also reducing the possibility of errors and irregularities, demonstrating care with public resources to the population and applying them efficiently