INDIVIDUAL AND ENVIRONMENTAL IMPACTS ON SUPPLY CHAIN INVENTORY MANAGEMENT: AN EXPERIMENTAL INVESTIGATION OF INFORMATION AVAILABILITY AND PROCEDURAL RATIONALITY

Some strategies for mitigating ordering inefficiencies in supply chains advise sharing information among decision‐makers. However, there has been little consideration of how individual perceptions intervene in the use of available information in decision‐making processes. This article reports the results of an experiment in which participants were instructed to minimize inventory holding and backlog costs for their supply chains as a whole. The analysis suggests that additional information affects supply chain inventory management costs only when rational decision‐making processes are followed. Decreased costs are observed when rational decision‐making is applied with backlog information. In contrast, increased costs are observed when consumer demand information is available.     

Empirical research in electronic meeting systems a demand side approach

This study set out to empirically research the time spent by managers in meetings and to identify the requirements of an information technology system for supporting meetings. It does this by investigating the time commitment, efficiency, main problems, and benefits of meetings. In addition, it examines managers’ attitudes towards information technology support for meetings. To fulfill this aim, more than 1,000 mainly middle level managers were surveyed.

It emerges that a total of 22.4% of working time is spent in meetings; 34% of this time expenditure is rated inefficient. The opportunity for collective decision making and exchange of information are seen as the main benefits whereas the failure to identify critical items and agendas without priorities and targets are seen as the main problems. Analysis of their attitudes towards technological support of meetings shows that managers in principle have a positive attitude toward the idea. They specifically wish to see particular support for the preparatory and follow‐up phases and tools to support qualitative‐creative tasks.     

The Match between Information Control and Motivation in the Online Context

E‐commerce practitioners have long tried to leverage the technological characteristics of the Internet to facilitate better information seeking and decision making by consumers online. One impressive characteristic of the Internet is that it offers users various degrees of information control on the same medium. The purpose of this study is to investigate the effects of this characteristic on consumers’ decision‐making online. It is hypothesized that, to improve quality of consumers’ decisions, the degree of information control should match the degree of motivation. The rationale is that highly motivated consumers have a strong will to search for relevant information; therefore, a high degree of information control allows them to search as much as they want and thereby improve their decision making. Low‐motivation consumers, on the other hand, are unwilling to search; hence a low degree of information control, which might push high‐quality information, would benefit them. The study employed the methodology of experiment, and involved 171 voluntary participants. The empirical results show that high‐motivation consumers make better decisions when they are given a high degree of information control, compared to when they are in a low information control condition. On the other hand, low‐motivation consumers in a low information control condition perform better than similar consumers in a high‐control condition. The results strongly support the match hypothesis of information control.     

Participants' perceptions on the role of facilitators using Group Decision Support Systems

The impact of facilitation upon group meetings has been a topic of research and debate for over 40 years. However, with the emergence and increasing usage of Group Decision Support Systems (GDSS), the role of facilitators is once more being addressed. Facilitators aim to substantially increase the effectiveness of group working, making meetings more productive and efficient through the management of both content and process. However, while the benefit that facilitators can bring is acknowledged, developing the necessary skills and techniques is more problematic. There are few manuals for would-be faciliators to draw upon, and much of their ability is acquired through experience. This article therefore attempts to increase the knowledge available and to provide facilitators with some practical suggestions. The research focuses on a series of interviews with group members (participants) who had used a particular GDSS—Strategic Options Development and Analysis (SODA)—for organizational decision making. From the analysis of the interviews, a number of reoccurring issues were identified which are presented as a set of learning points. These cover not only the workshop/meeting itself, but also the pre-workshop and post-workshop stages. The article also reflects on the impact which these identified learning points have on design and future GDSS development.     

In the trenches: Making your work meetings a success

Managing meetings effectively is vital in the fast-paced, complex environment of the modern workplace. However, direct scholarly attention to work meetings is still limited, making an understanding of what makes meetings successful elusive. In this article, we examine the particulars of successful and unsuccessful meetings from a participant’s perspective. Employing a conceptual mapping approach, we analyze open-ended statements collected from meeting participants to identify three broad themes associated with meeting success: (1) participant learning and development; (2) the coordination of performance, including the creation of links between meeting episodes; (3) and the development of common understanding and alignment among attendees. By more fully taking these themes into account, managers can be better equipped to design, organize, and manage their work meetings successfully.     

The Meta Environment: A New Group Support System Structure

The greatest success of conventional group support systems (GSS) has been in meetings whose purpose is to extract and record the ideas that participants bring to the meeting. Research supports the usefulness of GSS when complexity is high and groups are large. Conventional GSS almost always require a facilitator or group leader to guide a group through a desired set of tasks. The next natural step beyond conventional GSS is to empower people to use even a broader set of tools in meetings. This article proposes a new GSS structure called the meta environment in which group members bring material into the meeting from their individual workstations, and interact dynamically not only to generate new material, but also to access and analyze existing computer-based information such as spreadsheets and documents. More importantly, a meta environment enables people to work both in synchronism and out of synchronism with the meeting, and adjust to and remember work across meetings. A prototype development project and user testing shows how meta environment components can be built and used. Results from the user testing suggest the need for a new cycle of empirical testing in GSS research to evaluate the effect of the meta environment on existing and new group structures.     

New product adoption by pharmacists

The objective of this paper is to report a study into the new product buying behaviour of retail pharmacists in Britain and their ways of handling product and marketing information. The research was of an exploratory and qualitative nature, involving in‐depth personal interviews with a relatively small sample of 37 retail pharmacists within the Greater Manchester and Mersey area.

The results show that retail pharmacists in general are indifferent to and reluctant to accept new pharmaceutical products. Retail pharmacists normally are too busy to attend any professional meetings but those who do attend meetings regularly seem to be more innovative, which indicates the existence of opinion leadership in the pharmaceutical community.

With respect to the sources of information, commercial sources are useful for creating awareness, but personal channels are more influential in the later stages of the decision‐making process. Finally, the results indicate that lack of information and poor communications amongst retail pharmacists, physicians and manufacturers are possibly a major reason for new product failure. Using these findings the authors highlight important lessons which may apply to a wide range of product marketing. In particular the risks/opportunities of new product development and marketing are discussed.     

Die neuen Elterngeld-Komponenten: Will money trump gender?

Empirical evidence on couples’ decision making has shown that the partners’ sharing of resources (particularly of time and money) is driven by their respective bargaining positions and gender role behaviour. Against the background of an asymmetric specialisation risk carried by the person that takes care responsibilities, we discuss the potential effects that the recently proposed extensions of the German parental leave system, particularly the “ElterngeldPlus” and “Partnerbonus”, may have on the partners’ work division and their individual welfare levels in the long run.     

E-business's impact on organizational flexibility

Organizations are finding that their ability to respond to unpredicted changes in the market is becoming a key factor in survival. The ability to adjust e-business processes to customer preferences (flexibility) has become a necessity for online systems. Despite the interest in e-business flexibility the academic literature has not kept pace with industrial developments. This research study builds upon previous work through two investigations. First, the results of five case studies are used to develop a seven (alliance/joint decision management and intelligence, enterprise-wide change management, organizational learning, process oriented agility, network centric information management, leadership of transformation and knowledge exchange meetings) factor model that depicts the influences of flexibility on organizational effectiveness in e-business environments. Second, this paper illustrates how the model can be used as a benchmarking tool and has the potential to become a key learning mechanism. The authors discuss the conclusions and managerial implications of the findings.     

Experimental Study on Negotiation Process in Participatory Decision Making Process in a Community

In participatory decision making process in a community, plural participants, such as governmental agencies, local municipalities, citizen groups and private companies are involved in the process. For achieving resolution, the methodologies for sharing understanding on a problem and formation of cooperative relationship are important. In this paper, the game experiment for observing people??s behaviors in conflicts is designed. In the game experiment, subjects are asked to negotiate with their counterparts. The games have similarities with typical conflicts which can arise frequently in participatory decision making process. The role of communication in participatory decision making process is also discussed.     

A Text Mining-Based Review of Cause-Related Marketing Literature

Social networking sites (SNS) have challenged ethical issues about users’ information security and privacy. SNS users are concerned about their privacy and need to control the information they share and its use. This paper examines the security of SNS by taking a look at the influence of users’ perceived control of information over their information-sharing behaviors. Employing an empirical study, this paper demonstrates the importance of perceived control in SNS users’ information-sharing behaviors. Specifically, perceived control has been found to be negatively related to perceived privacy risk and attitude toward information sharing, which in turn has an impact on their information-sharing behaviors. In addition, gender has been shown to be an important factor that moderates the influences of both perceived control and perceived privacy risk on SNS users’ attitudes toward information sharing. Theoretical and practical implications are discussed.     

Managing insight velocity: The design of problem solving meetings

Insight velocity measures the speed with which participants in a meeting increase their understanding of a problem and its possible solutions. The problem solving meeting is an information processing system subject to the influence of rational and social forces. Traditional meeting skills and information technology, in the form of group technology, provide meeting designers with a means of amplifying and dampening these social forces to improve the effectiveness of meetings. For each phase of a meeting, a three stage information processing model (generate, evaluate, and relate) is described. Meeting design consists of two activities: (1) dividing a meeting into a sequence of information processing steps, and (2) deciding which forces to amplify or dampen in each phase. Meeting design is based on repeated application of this three stage model to maintain insight velocity. These principles of meeting design are illustrated with vignettes drawn from selected meetings addressing complex problems.     

Division of Labor between Innovation Intermediaries for SMEs: Productivity Effects of Interfirm Organizations in Japan

Innovation intermediaries are individuals or organizations that help others improve productivity. This study examines how small‐ and medium‐sized enterprises (SMEs) chose intermediaries and how intermediaries affected total factor productivity (TFP) growth of participants through different channels. Estimated switching regression models reveal that cooperative associations improved TFP of participants through cost sharing, such as joint logistics, while voluntary groups improved TFP of participants through knowledge sharing, such as joint R&D. Innovative SMEs appear to have exploited different intermediaries so that the benefit from each intermediary would be complementary to TFP growth. The results suggest the division of labor between intermediaries.     

A lack of insight: do venture capitalists really understand their own decision process?

What decision criteria do venture capitalists (VCs) use to make their investment decisions? This question has received much attention within entrepreneurship literature (i.e.,Wells 1974; Poindexter 1976; Tyebjee and Bruno 1984; MacMillan, Seigel, and Subba Narasimha 1985; MacMillan, Zeman, and Subba Narasimha 1987; Robinson 1987; Timmons et al. 1987; Sandberg, Schweiger, and Hofer 1988; Hall and Hofer 1993; Zacharakis and Meyer 1995) for a number of reasons. First, VC-backed ventures achieve a higher survival rate than non-VC-backed businesses (Kunkel and Hofer 1990; Sandberg 1986; Timmons 1994). Second, a better understanding of the decision process may lead to even better survival rates. Finally, entrepreneurs seeking venture funding benefit if they understand what factors are most important to the VC.Although past research has greatly contributed to our understanding of the decision, it may be biased and somewhat misleading. The majority of past studies rely on post hoc methodologies (e.g., interviews and surveys) to capture the decision process. Post hoc methods assume that VCs can accurately relate their own decision processes, but studies from cognitive psychology suggest that people, in particular experts, are poor at introspecting. Introspection is subject to rationalization and post hoc recall biases. Using social judgment theory and the associated lens model as a framework, the current study investigates how well VCs introspect about their own decision process and, by extension, whether the past research efforts are biased.The current research uses policy capturing, a real-time method common in cognitive psychology, to capture the VC's “actual theories in use” versus their “espoused theories” (Hitt and Tyler 1991). Policy capturing requires that VCs make a series of real-time decisions based on various information factors. Regression analysis of each VCs' decision captures how important each of the information factors is to her/his actual decision process. After the VCs make their decisions, they provided a weighting of how they believe they used the information factors. Comparing the captured decision policies to stated decision policies provides a measure of VC insight.The findings suggest that VCs are not good at introspecting about their own decision process. Even within the confines of a controlled experiment, which greatly reduces the amount of information considered, VCs lacked strong understanding of how they made decisions. Most decision-makers would like to have all relevant information available for their decision. However, as more information becomes available, insight diminishes. Finally, this study finds that VCs are very consistent in their decision process, even though they do not necessarily understand how they make their decisions.VCs face a plethora of information when making an investment decision (i.e., business plan, outside consultants, due diligence, etc.). It may be difficult for VCs to truly understand their intuitive decision process because of all the noise caused by this information overload. This lack of systematic understanding impedes learning. VCs cannot make accurate adjustments to their evaluation process if they do not truly understand it. Therefore, VCs may suffer from a systematic bias that impedes the performance of their investment portfolio. The methodology used in this experiment can be modified and used as a training tool for active VCs. In addition, the consistent nature of VC decision-making (even if they do not have a strong understanding of that process) is favorable to the development of decision aides. Decision aides can minimize the danger of salient information (e.g., the lead entrepreneur is a winner) clouding the VC's judgment.Past research also needs to be interpreted in a new light. Although VCs undoubtedly use some of the information cited in past studies, the relative importance of that information needs to be reevaluated. VCs may not, for instance, rely most on the background of the entrepreneurial team. In addition, it is likely that the past studies provide more information factors than VCs actually use. People have a tendency to overstate the information they believe they relied upon and to use far less information (typically three to seven factors) to make a decision than they actually think they use. The methodology used in this experiment has the potential to identify the more relevant information factors cited in previous work.Even though VCs are experts in the new venture funding realm, their decision process has room for improvement. Almost 40% of all backed ventures fail to provide a return to the VC. Considering the billions invested each year, a modest improvement in the failure rate can have a substantial impact on venture portfolio returns. That improvement starts by better understanding the decision process. This study is a step in that direction.     

Role of Family Resources in Firm Performance: Evidence from Tanzania

The main purpose of this article is to examine the role of intangible family resources in the performance of family enterprises in Tanzania. In particular, the article examines the role of information sharing, family patient capital and family labor in firm performance. Using a sample of 163 family firms and the structural equation model of analysis, the findings indicate that family patient capital and information sharing contribute significantly to the performance of firms. With regard to the cost of labor, the study does not show any evidence that lower labor costs improve family firms' performance, most probably because these businesses incur additional labor costs which are not directly linked to the business. Based on the results, it is concluded that the family has an influence on the strategic level of family businesses, thereby contributing to their success.     

分销商渠道公平感知对战略信息分享的影响

文章从渠道分销商心理感知角度出发,实证分析了渠道建设中分销商公平感知与分销商战略信息分享之间的关系。研究结果表明,分销商对渠道关系的公平感知会影响分销商对渠道关系的评价,低劣的评价总是与低水平的分享意愿相联系,而良好的关系评价则是分销商愿意分享战略信息的前提;环境不确定性并不会对分销商战略信息分享行为产生直接的负向作用;渠道关系中的依赖不对称性也会使分销商与制造商的主要关注点发生变化,从而使影响分销商战略信息分享的因素也处于变化之中。为更好地与分销商共享战略信息,制造商应谨慎使用渠道权力,避免渠道伙伴的反感,应表现出增加渠道整体利益的意愿和承诺,并在政策完善、流程对接等方面提高分销商的程序公平感知,在利益分配的结果方面改善分销商的分配公平感知,减少分销商对分享战略信息可能存在风险的担忧。而依赖性较高的制造商应重视产品研发与供应链的整合,提供更多的渠道整体利润,积极利用分销商的战略信息升级产品,为双方带来额外利益,保证渠道关系长久发展。     

A Multi-Criteria Group Decision Framework for Partner Grouping When Sharing Facilities

The site location is an important strategic decision for a company and usually incorporates several conflicting criteria. Therefore, multicriteria decisions methods are more and more used in this context. On the same time, another increasing trend is cooperative relationships where partners or even rivals work together to collectively enhance their performances by sharing resources. This paper presents a novel multi-phase approach to aid partners to address the following questions in the location problem context: ‘Where and with whom should the company locate its business?’ A case study is described where final year students are looking for a flat to share in London.     

Board Meeting Attendance by Outside Directors

Outside directors’ regular board meeting attendance is important in improving the effectiveness of a governance system. Such attendance is evidence of their commitment to the firm as key other players in monitoring and decision making. Using a unique dataset for Korean firms, and three-level random coefficients models, we find that, foreign outside directors, an independent appointment process, professional knowledge of business operations and accumulated firm-specific knowledge are important factors that affect outside directors’ attendance of board meetings. The results also confirm that both outside directors’ personal characteristics and the social context are crucial in understanding their board meeting attendance. Further analysis shows that a positive corporate environment that supports the outside director system encourages outside directors’ attendance at board meetings.     

Franchisor strategy and firm performance: Making the most of strategic resource investments

A key decision for entrepreneurs in many retail and service firms is whether, and how much, to use franchising. If the decision is made to franchise, the actor may assume one of two “identities” or tactics: (1) the “chain builder,” who uses a blend of company and franchised outlets, and (2) the “turnkey,” who sells business opportunities but does not own any outlets. To benefit from their chosen strategy, franchisors must put resources in place to support it. We argue that franchisors use the chain building strategy to strike a balance between standardization and innovation by building resources that foster trust and encourage knowledge sharing with franchisees. In contrast, for turnkeys, a valuable set of operational routines is the critical strategic resource. To better appreciate how franchisors choose between the chain builder and turnkey strategies, we gathered survey information from 263 franchisors. Via this data, and as described herein, we learned that franchisors perform better when they invest in resources that best support their selected strategy.     

Is Decision Style Related to Moral Development Among Managers in the U.S.?

The decision making process is an important aspect of the managerial function that is becoming increasingly complex due to technological and global impacts. It is essential, therefore, to understand why various managers approach the decision making process differently. One area that is related to how managers perceive and process the information that is associated with decision making, is that of decision style.It is not enough, however, to explore decision style in isolation, as some of the decisions that managers make often entail ethical components concerning the ability to balance the interests of diverse groups. Moral reasoning is therefore important for every manager, and could impact the decision style that is employed by such managers. The relationship between managerial decision style and moral development is one that could provide unique insights into the area of decision making, yet it is an area that has remained relatively unexplored.Using Alan Rowe's Decision Style Inventory (DSI), in conjunction with James Rest's Defining Issues Test (DIT), the purpose of this study was to ascertain the relationship between decision style and moral development among U.S. managers.The findings of this study of 270 managers suggest that there is a relationship between higher directive decision style scores and lower principled reasoning scores. Since the focus of individuals who demonstrate a directive decision style is on task completion, perhaps the consideration of the many alternatives that are necessary to reason at a more ethically attuned level is neglected. Managers who exhibit a directive decision style might be responsible for the management of non-managerial populations of workers, and in such a capacity, set the ethical tones and examples for employees to follow. Since training and educational interventions in the area of ethics have been shown to increase moral development scores, those managers who are identified as displaying a directive decision style might benefit from such training.