Corporate Europe in the US: Olivetti's acquisition of Underwood fifty years on

While Italy's catch-up in the course of the twentieth century has been nothing short of extraordinary, it has failed to produce a large number of global business players. Nonetheless, half a century ago an Italian company concluded what was at the time the largest-ever foreign takeover of a US company. The paper analyses Olivetti's acquisition of Underwood and frames it in the broader picture of the literature on the management and performance of foreign companies in the United States. We provide a historical narrative focused on three main issues: 1) Olivetti's adaptation to the American business system; 2) head office control and subsidiary autonomy; 3) the development of internal knowledge resources. The implications are relevant for business historians and management scholars in general.     

Individual and organizational learning from inter‐firm knowledge sharing: A framework integrating inter‐firm and intra‐firm knowledge sharing and learning

Literature has highlighted but not explored links between knowledge sharing and learning at inter‐firm and intra‐firm levels. Using the single case of an aviation refuelling company as the basis for our research methodology and collecting data through 34 semi‐structured interviews, we develop a framework that integrates knowledge sharing and learning at inter‐firm and intra‐firm levels. We show that intra‐firm knowledge sharing capabilities facilitate the diffusion of inter‐firm learning within organizations. Moreover, inter‐firm trust manifests in different forms that affect individual and organizational learning. The purpose of collaboration determines what a firm learns or discards. The findings are important for organizations facing a shortage of skills. © 2018 ASAC. Published by John Wiley & Sons, Ltd.     

ECS创新产品开发中的知识共享问题探讨

随着当前以知识经济为基础的全球竞争变得更加激烈,许多跨国公司的供应商们越来越早地参与到创新产品的合作开发过程中。本文以一个欧洲的消费电器制造公司(ECS)为案例,调查和研究了在该公司新产品的开发过程中,供应链成员与其共享知识和相关技术的机制,并重点讨论了在此供应链中共享知识时所涉及到的主要问题以及未来的改进方向。     

Management control systems,trust and risk in inter-organisational relationships: The case of Francisco González de la Sierra and its partner Rivas y Cantallops (1847–1864)

This article is intended: (1) to provide evidence about the practices in the nineteenth century of inter-organisational relationships when parties accepted sharing performance risks; and (2) to contribute to reducing the gap about the trust–control system dynamic interaction and its effect on risk through empirically analysing a non-contemporary setting. Our study analyses the ongoing relationship of a small commercial company with its main partner during the period 1847–1864, and examines the formal systems used by the company to monitor and coordinate its partner's activity and the evolution of inter-firm trust throughout the whole life cycle of this relationship.     

Understanding the effect of stigmatization on food consumer knowledge,perception and behaviour in Northern Ireland

Stigmatization has only recently been linked with the perception of risk, and research into this area has mainly concentrated on measuring the differences between nationalities, gender and socio‐economic status. The concept of stigmatization helps us understand why the public views certain places, products, technology and environments as dangerous and in a negative manner. To date, little has been done to assess the relationships between the effects of stigmatization on situations and people's decision‐making capabilities with regard to food. The aim of this research is to examine food consumers’ knowledge of food‐related risk issues to provide insight into the process of stigmatization and its relationship to food risk management, thereby improving awareness of the information consumers require from food risk communication. To meet this aim, two phases of data collection were implemented. Phase 1 used a baseline survey to investigate consumer knowledge of food‐risk‐related issues, identify how much attention consumers pay to information and what they remember about the particular issues. Factors affecting participant's recollection included how recently the event associated with the issue occurred, the level of media coverage and the reported severity of risk outcome. Phase 2 involved a follow‐up survey to investigate consumer knowledge of food risk issues and determine any changes in consumer behaviour. Research results and conclusions of Phases 1 and 2 of the study will be presented to highlight the relationships between participant recollection of particular food issues and whether knowledge of such issues caused any change in behaviour.     

Cause‐Related Marketing Persuasion Knowledge: Measuring Consumers' Knowledge and Ability to Interpret CrM Promotions

Cause‐related marketing (CrM), a partnership between a for‐profit and not‐for‐profit company, is an increasingly common promotional approach. Consumers range in awareness of and knowledge about CrM, and vary in their ability to identify and evaluate critical elements of a CrM promotion. The authors describe this knowledge and ability as “CrM persuasion knowledge (CrM‐pk),” which guides consumer response, and can inform how firms use CrM promotions to communicate with consumers. In the current work, the authors define, develop, and evaluate an instrument to measure CrM‐pk, and examine how it moderates the influence of promotional features on consumer attitudes.     

Training corporate managers to adopt a more autonomy‐supportive motivating style toward employees: an intervention study

Management style is treated in a variety of ways across the training and development literature. Yet few studies have tested the training‐based malleability of management style in a for‐profit, authentic work context. The present research tested whether or not training intervention would help managers adopt a more autonomy‐supportive motivating style toward employees and whether or not the employees of these managers would, in turn, show greater autonomous motivation and workplace engagement. Using an intervention‐based experimental design, 25 managers from a Fortune 500 company received training consistent with self‐determination theory on how to support the autonomy of the 169 employees they supervised. Five weeks after the managers in the experimental group participated in the training, they displayed a significantly more autonomy‐supportive managerial style than did nontrained managers in a control group. Further, the employees they supervised showed, 5 weeks later, significantly more autonomous motivation and greater workplace engagement than did employees supervised by control‐group managers. We discuss the malleability of managers' motivating styles, the benefits to employees when managers become more autonomy supportive, and recommendations for future training interventions and research.     

Workplace Flexibility Practices in SMEs: Relationship with Performance via Redundancies,Absenteeism, and Financial Turnover

This workplace flexibility study uses primary data on private sector small and medium‐sized enterprises (SMEs) in Lancashire, United Kingdom, collected in 2009 during the recent “credit crunch” recession. Key features include: (1) objective measures of SME performance; (2) a focus on the previously relatively neglected relationship between workplace flexibility practices (WFPs) and three SME performance indicators, namely, redundancies, absenteeism, and financial turnover; and (3) a timely contribution to research on SMEs. Numerical, functional, and cost WFPs analyses, via zero‐inflated Poisson and linear regressions, control for SME and market characteristics. Despite SMEs having limited resources, the results show a significant section of SMEs to be innovative and entrepreneurial organizations, embracing advancements in employment relations regarding employee discretion, training, participative working arrangements, and/or job security. Moreover, results indicate that WFPs have the potential to assist SMEs in responding to periods of constrained demand. Flexitime and job sharing are associated with low permanent‐employee redundancies. Training, job security, and family‐friendly practices relate to low absenteeism with reductions of up to six annual days per worker. Job security and profit‐related pay are associated with high financial turnover. Staff pay‐freeze links with high financial turnover, but to the detriment of redundancies and absenteeism, whereas management pay‐cuts or management pay‐freeze relate to low financial turnover. On a cautionary note, spending cuts, often enforced by policymakers, may be of limited benefit to SMEs, and thus other approaches would appear more fruitful.     

THE WAGE–WAGE‐ . . . ‐WAGE–PROFIT RELATION IN A MULTISECTOR BARGAINING ECONOMY

The equalization of profit rates across industries subject to firm‐level bargaining over wages generates an interindustry wage structure with higher wages in capital‐intensive sectors. The familiar inverse wage–profit relation gives way to a wage–wage‐ . . . ‐wage–profit surface on which the profit rate can vary directly with the wage paid in an individual industry. Institutional changes that decrease workers' bargaining power and increase the incomes of the unemployed tend to compress the wage distribution; these changes draw political support from cross‐class coalitions of low‐wage workers and capital‐intensive firms. Some capital‐using, labor‐saving technical changes that raise capitalists' profits in current prices lower the equilibrium profit rate.     

Distributing Start‐Up Equity: A Theoretical Foundation for an Emerging Practice

We use agency theory to model equity division in venture capital financing with three complementary value‐creation factors—the entrepreneur's effort, the venture capitalist's advising/monitoring service, and the investment amount. While considering that investors often base their funding decisions on gut feeling, even as they employ rational decision‐making processes, we derive closed‐form expressions for optimal ownership sharing. Our findings provide theoretical explanation to support the recent call for practitioners to allocate ownership equity based on the relative potential contributions of the entrepreneur and the venture capitalist to generate value for the new investment prospect.     

Pay‐for‐Performance,Employee Participation,and SME Performance

This study examines how pay‐for‐performance (PFP) systems affect the performance of small‐ and medium‐sized enterprises (SMEs). We decompose PFP into two dimensions: scope and depth. PFP scope captures the variety of performance measures and reward types included in a firm's PFP system, and PFP depth reflects the relative amount of performance‐based pay compared with total pay. We posit that PFP scope has a positive whereas PFP depth has an inverted U‐shaped effect on employee participation, which in turn enhances SME performance. Analysis of data collected at both employee and firm levels of 444 SMEs during 1999–2006 supported these hypotheses.     

The Public Health Implications of Consumers' Environmental Concern and Their Willingness to Pay for an Eco‐Friendly Product

Environmental concern has been an important topic for more than 40 years and has recently become even more critical with today's concerns about creating a sustainable and healthy environment. This research examines factors affecting an individual's willingness to pay more for an environmentally friendly product. Our results show that willingness to pay more differs across demographic groups. We also find that individuals who rate concern for waste as highly important are willing to spend more money on an eco‐friendly product. Consequently, our findings provide insight into the development of appropriate educational strategies for different consumer groups to encourage consumers to purchase eco‐friendly products, with a goal of creating a healthier environment for current and future generations.     

The impact of customer-specific marketing expenses on customer retention and customer profitability

We study the effects of customer-specific marketing expenses on customer retention and customer profitability in a business-to-business setting. Using data from a company providing hygiene services, we look at the impact of a hitherto unstudied type of expense targeted at individual customer relationships: the offering of free equipment to customers. The data allow tracking the activities performed in more than 4,500 customer relationships over a period of 4 years. Retention rates are higher for customers targeted with free equipment, but this effect results from an interaction with customer size. First-order dynamic panel data analyses show that the impact of targeted marketing expenses on customer dollar profit is positive for large customers, but there is no effect for smaller customers. Thus, targeted marketing expenses seem to be a tool for relationship maintenance rather than customer development: they help in retaining large customers that generate more profit, but they do not seem to work in developing new customers into larger, more profitable ones.     

Relationship learning: A conduit for internationalization

Internationalization opportunities can emerge through inter-organizational sharing, yet research on why and how organizations learn through relationship interactions is underdeveloped. We explore how learning in supplier-customer relationships contributes to organizational offerings through the knowledge development process. We identify relationship learning as an organizational dynamic capability by thematic analysis of qualitative longitudinal data from large as well as small and medium-sized organizations. Our case study of organizations demonstrates that nurturing personal relationships and paying attention to customer communication is core in knowledge sharing. Customer input is valuable in solution offerings, strengthening mutual work, and growth in internationalization within an existing relationship or in new ones. The results endorse that the knowledge development processes and commitments transpire at both ends of the relationship. The findings provide practical managerial implications for ensuring the development of open and transparent communication conduits in relationships. The process of providing a solution that addresses customers' needs must begin with understanding their work, issues, and the intended jobs they will perform.     

Dynamic Agency and Investment Theory under Model Uncertainty

We extend dynamic agency and investment theory by incorporating model uncertainty. As concerns regarding model uncertainty induce a trade‐off between incentives and ambiguity sharing, the principal tends to delay the cash payout to the agent. We find model uncertainty lowers the firm value, the average q and marginal q, where q is defined as the ratio between a physical asset's market value and its replacement value. Furthermore, model uncertainty leads to insufficient investment, which provides an alternative explanation for under‐investment. Finally, the optimal pay‐performance sensitivity of the agent's continuation value to the firm's output is state dependent and exceeds the lower bound when it is close to the payout boundary.     

Crossing the borderline in strategic corporate philanthropy: Dangote and the construction of cement roads in Nigeria

Using the case of Nigeria's Dangote Group and an exploratory research technique, we critique CSR practices in a developing country context based on a three‐pillar model—traditional CSR, strategic CSR and strategic business engagements. Our paper makes a unique contribution by revealing how a company can transform its strategic CSR into strategic business engagements that permit it to circumvent public procurement laws and secure public contracts at non‐competitive terms. We show how, in weak institutional and regulatory contexts, strategic CSR could be turned to a tool for rent extraction and profit maximization. We advocate for regulatory measures that impose ex ante and ex post limits on the extent to which firms can go in integrating CSR into their normal business operations. Based on the outcomes from this important African case study, we illustrate and propose the strategic business engagement model as a new framework for analysing the social benefits of strategic CSR practices in developing countries.     

加快发展现代流通

随着我国社会主义市场经济体制的确立,许多商品的供需关系发生了根本性的转变,“卖”成了矛盾的主要方面,流通的先导作用日益突出。同时,在我国降低生产成本空间有限的情况下,降低流通成本已经成为企业的第三利润源泉,也是提高企业竞争力的关键。在我国,现代流通可以为调整经济结构、转变经济增长方式服务,我们要进行流通体制的改革,重视农村流通和生产资料流通,改造和提升批发市场,大力发展现代物流业,促进第三方物流的发展。     

Super‐Connectors: A New Model of Internationalization from the MENA Region

The main purpose of this case‐based research is to investigate and analyze three fast‐growing airlines (Emirates/Dubai, Qatar Airways/Qatar, and Etihad Airways/Abu Dhabi) and their internationalization from the Middle East and North Africa (MENA) region. The three carriers that are commonly known as “super‐connectors” in the airline industry continue to excel in their business models and internationalization. Based on secondary data, surveys, and company‐specific information, the article uses a longitudinal case‐based research approach to discuss the three airlines. Findings of the work reveal that the three super‐connectors have aggressively expanded in the MENA region and beyond by seeking multiple alliances, joint ventures, long‐term collaborative agreements (code sharing), and foreign direct investment (FDI). These activities represent innovative business models and operational efficiencies in the global airline industry. We believe that non‐MENA airlines may not have the same dynamism, strategic clout, corporate‐related efficiencies, and financial prowess that we witness among the three super‐connectors. In international business (IB) and multinational corporation (MNC)‐related areas, researchers, industry analysts, and policymakers need to pay attention to the MENA region's super‐connectors and their emerging internationalization models. The article also provides useful trends and implications that can be benchmarked by practitioners, researchers, and airlines regarding the issues of internationalization, growth, and new business models. © 2015 Wiley Periodicals, Inc.     

Strong or invisible hands? – Managerial involvement in the knowledge sharing process of globally dispersed knowledge groups

This paper investigates factors affecting the effectiveness of knowledge sharing in globally dispersed expert groups in a professional service MNC. We specifically focus on possible moderating effects of managerial involvement on the relationships of dispersion and trust with the individual satisfaction with knowledge sharing within such groups. We test our hypotheses in the context of a large multinational software company. This paper contributes to a deeper understanding of how knowledge is shared in globally dispersed settings in the MNC and challenges traditional assumptions on the appropriate level of analysis in studies of knowledge flows within MNCs.     

虚拟供应链合作伙伴的知识共享模式研究

知识在虚拟供应链合作伙伴中的共享和传播是供应链知识管理的核心内容。本文根据对供应链企业间知识共享微观机制的认识,分析了知识共享障碍,在此基础上,提出了虚拟供应链合作伙伴基于知识共享的系统结构,并进一步探讨了其知识共享的策略。