Establishing a system for innovation in a professional services firm

Professional service firms are facing new competitive challenges in a global market with more value-focused clients, service commoditization, regulatory changes, and new Internet-enabled business models. They increasingly need to improve competitiveness through sustained innovation of the value they provide and the efficiency with which they provide it. But how can firms establish an effective and sustainable innovation system? This Executive Digest shares a best practice model for innovation based on academic research and honed by a decade of practical experience in application across professional service firms in consulting projects. This work covers how to develop innovation strategies by establishing processes and organization to support innovation, providing innovation training, developing new services, and re-engineering existing services. The author, Alastair Ross, details the practices required and shares some of the challenges encountered in realizing them. This article draws heavily on his latest book, Innovating professional services: Transforming value and efficiency.     

Searching for a Compromise in Multiple Referendum

We consider a multiple referendum setting where voters cast approval ballots, in which they either approve or disapprove of each of finitely many dichotomous issues. A program is a set of socially approved issues. Assuming that individual preferences over programs are derived from ballots by means of the Hamming distance criterion, we consider two alternative notions of compromise. The majoritarian compromise is the set of all programs supported by the largest majority of voters at the minimum utility loss. A program is an approval compromise if it is supported by the highest number of voters at a utility loss at most half of the maximal achievable one. We investigate the conditions under which issue-wise majority voting allows for reaching each type of compromise. Finally, we argue that our results hold for many other preferences that are consistent with the observed ballots.     

Stock replenishment policies for a vendor-managed inventory in a retailing system

Using Vendor Managed Inventory (VMI), the vendor determines the replenishment decisions at the location of buyers (retailers). This strategy is used primarily for handling demand fluctuations stemming from the Bullwhip effect, leading the system to prevent from holding excessive inventory that result in a reduction in the overall cost of the supply chain. The main advantages of VMI for vendors are higher levels of accessibility to inventory information and more direct contact with the customers. Similarly, VMI has some pros for the buyers, such as shared risk with upper levels of supply chain and reduction in their holding costs of inventory. In this paper, a vendor-managed inventory system is developed containing one vendor and two buyers in which the main assumption is that back-ordering and lost sales are permitted. In this system, (r, Q) and (R, T) replenishment policies are compared according to their performances to see which one performs more cost-efficiently when partial back-ordering is allowed. In accordance, mathematical models utilizing (r, Q) and (R, T) replenishment policies are developed, and algorithms for deriving the optimal replenishment decision variables are proposed. Moreover, significant differences between the two replenishment policies are discussed. The main finding obtained by this research is that when shortage is permitted, both (r, Q) and (R, T) replenishment policies under VMI have pros and cons in different contexts.     

Preference for a career in retailing: a question of personality

Drawing on previous findings from the field of brand personality research and employer branding, this paper aims to explore the symbolic attributes of the retail industry image in South Africa and to identify those personality traits that distinguish preferred industries from the retail industry. The research provides a contemporary overview of the current image of the retail industry in South Africa from the perspective of young university students and allows retailers to strengthen their joint communication effort accordingly. Therefore, a quantitative survey study with 1426 participants from five South African universities was conducted. Participants assessed personality characteristics of the retail industry as well as their most preferred industry. The main results suggest that retail and non-retail students hold different personality perceptions of the retail industry and that prior retail involvement accounts for this difference to some extent. Moreover, the analysis shows that retailing performs significantly worse on those personality attributes that are of major importance for future job seekers. Additionally, the study identifies those attributes that exert a strong effect on students’ preferences for the retail industry. The findings provide useful communication themes for educational institutions, retail companies, and industry associations in order to foster positive personality perceptions associated with the retail industry.     

Designing a Participatory Process for Stakeholder Involvement in a Societal Decision

For many societal decisions, governments and public bodies are beginning to involve stakeholders and the general public to a far greater extent than previously in the decision process. Stakeholder workshops, citizen juries, focus groups, electronic forums, web-polling and many other means of consultation are being used to draw citizens into the process of deciding between different options on the management of their communities. Politicians are drawn to such instruments because greater public involvement seems to achieve greater acceptance of the ultimate decision and, arguably in more objective terms, a better decision. Many academic studies have investigated participation and wider aspects of deliberative democracy and found that the politicians’ intuition is borne out in practice. However, while there have been many studies focused on specific instruments of participation, few have compared different ones. Moreover, there seems to be a dearth of advice on how to assemble a set of different instruments into a complete participatory decision making process. This paper offers a decision modelling framework which, firstly, provides a methodology which may be used to design participatory processes and, secondly, raises a number of questions which future comparative studies will need to address.     

CISG在中国适用的方法论思辨

CISG(联合国国际货物销售合同公约)自1988年生效以来,走过了23年历程。我国作为该公约的最早的缔约国之一,人民法院、仲裁机构在审理国际货物销售合同纠纷中对凡具备公约适用条件的案件,均直接适用,但适用该公约的方法存在一定差异性。反思这些问题,我国有必要通过宪法明确我国缔结或参加的国际条约在国内法律体系中的地位及其法律效力,以便在我国国内切实履行国际条约义务。     

Stars in meg a concert for Expo countdown

Around 40 stars and celebrities sang their hearts out on October 13 to fuel Expo fever and mark the 200-day countdown to the World Expo 2010 in Shanghai. The concert at Shanghai Grand Theater was live broadcast worldwide through Dragon TV.     

Creating a tribal approach for innovation in organizations

The purpose of this article is to describe how innovative organizations work beyond traditional overlays of rules, hierarchy, and process. This cultural context is best described as tribal and can be framed as seven key instincts: ambition, emergent structure, roles and responsibilities, trust, navigation, resolve, and sacrifice. This tribal approach provides a useful framework for organizations seeking to improve their predisposition for discovering extraordinary ideas.     

Interventions for effectively leading in a virtual setting

At least a decade ago, researchers recognized the importance of leaders being able to effectively execute interventions in teams. Now, advances in collaboration technologies have changed the way teams work together in addition to the challenges they face with regard to technology and collaboration. Due to these changes, it is important to take a look at interventions and how they can be technology driven or administered. Advances in technology-driven interventions can have a substantial impact on virtual project management and online education. In this article, we explore the role of interventions in improving technology choice in a virtual setting. We argue that both proactive and reactive interventions can be used to address virtual team challenges when it comes to technology choice. We identify six interventions (proactive and reactive) that were used to lead seven global offshore development teams, as well as the findings from their use. We also advise managers and online educators on ways to effectively identify and use interventions in virtual settings.     

Virtue as a Benchmark for Spirituality in Business

Business people often consider spirituality a means of increasing integrity, motivation and job satisfaction. Yet certain spiritualities are superficial and unstable. Religion gives depth and duration to a spirituality, but may also sew divisiveness. A spirituality's ability to develop good moral habits provides a positive test of the "appropriateness" of that spirituality for business. Many successful business executives demonstrate a spirituality that does develop good moral habits.     

Challenges and perspectives for a single market for financial services in Europe

The introduction of the euro has highlighted the fact that Europe’s financial markets are still characterised by a high degree of fragmentation. This threatens to impede the process of structural reform which is hoped to increase the competitiveness of the European economy. The modernisation of the European economy should therefore start with the modernisation of its financial services markets.     

Escaping a protectionist rut: Policy mechanisms for trade reform in a democracy

This paper analyzes the dynamics of trade policy reform under democracy. In an overlapping generations model, heterogeneous agents may acquire skills when young thereby determining the skill composition of their cohort. Current and anticipated trade policies influence education decisions and thus voters' trade policy preferences. We show that there may exist two political steady states: one protectionist and one liberal. Transition from the former to the latter can be achieved by government announcements, temporary educational subsidies, or tariff liberalization by trading partners, but generally not by transfer payments to adversely affected workers. We find additionally that reform is politically feasible only if the proposed liberalization is sufficiently large, suggesting that radical reform may be necessary for escaping a protectionist political rut.     

Developing a Positioning Strategy for a University

ABSTRACT

If a school is able to establish a distinctive position relative to its competitors, it enhances its ability to maintain or increase enrollments. This paper focuses on the steps necessary for a school to create an effective positioning strategy. Success at positioning, however, does not occur easily or rapidly. Through the use of a variety of survey methods, it can be determined whether the strategy employed has resulted in the desired positioning for the school. Schools that have properly positioned themselves to meet the needs of their student market will flourish while those that have failed to do so will languish.     

Corporate governance in Russia: a framework for analysis

In the past several years, the Putin government’s goal of joining the World Trade Organization, as well as the critical shortage of investment funds in the country, have been prime levers in raising the importance of corporate governance in Russia. While most research has addressed relatively discrete aspects of the topic, this article provides an integrative framework for analyzing corporate governance in Russia. With large companies as the focus, the framework is particularly appropriate for companies in transitioning economies whose corporate governance systems are still developing. The framework draws on a cultural-embeddedness model as well as agency and stakeholder theories. Propositions for corporate governance in large Russian companies are developed for exploration in future research.     

Quality Practices for a Competitive Advantage in Smaller Firms

This exploratory study examines the quality practices used in smaller entrepreneurial firms. The current literature defines flexibility as one of the primary competitive priorities for smaller firms. This study develops an exploratory proposition that relates the characteristics of quality systems used by small firms, and their value, to the competitive priority of flexibility. A survey of 184 small firms in the U.S. was conducted using the classification scheme for quality systems consistent with the Malcolm Baldridge National Quality Award (MBNQA) performance criteria. Overall, the results support the proposition that small firms tend to employ quality practices that enable change and that position the firm to pursue flexibility as a competitive priority. The paper concludes with a discussion of the insights generated by the findings and directions for future research.