A Reply to “Business Marketing in Master's Programs: A Part of the Fabric”, But What If the Suit Differs?

ABSTRACT

In this reply to James Narus, James Anderson and Earl Honeycutt (NAH) we elaborate on the journey, a 25-year process, in teaching Business Marketing at Ivey. We further discuss the goal to elevate Business Marketing knowledge in the core of the program, rather than to build a strong specialization in the area. Inspired by NAH's reply, we then comment on the root causes of lack of progress at some schools in bringing more Business Marketing into master's programs, and we address the question, “What about those schools where the characteristics are different from Ivey, i.e., how far can our ideas be generalized?”     

Implementing Ethics in Business Organizations

In view of the scope and scale of the latest scandals, e.g. Enron's maximum breaking bankruptcy, the re-discovery of ethics in business has received an impressive boost. By now even car salesmen have written ethics, “a Code of Conduct”, e.g. in the USA or Poland. But there is no clear aim of the role ethics obtains in organizational settings as we may show in some small cases of practical approaches to deal with ethics in organizations. We discuss how ethics is the prerequisite to conduct any business and what advantages may be realized if a clear set of ethics is followed. We will discuss three practical examples. In cases of ethics-based values-added management of Siemens (Germany), Boeing (U.S.) and SAP (Germany) we explain the mechanisms of ethics in management to strengthen organizational success. We emphasize the importance of clear ethics-related communication processes in organizations. We explain the use of communication theories inside organizational processes to clarify communication about such an abstract topic as ethics. Finally, we point out how a management of ethical ideas and cultural values should be designed in business enterprises.     

The Brand Personality of Nonprofit Organizations and the Influence of Monetary Incentives

This article contributes to the limited literatures on small- and medium-size enterprises (SMEs) and corporate social responsibility (CSR). Using an institutional theoretical framework, we analyzed fieldwork interviews with twenty SMEs and perspectives of 165 SME managers and workers in textiles, garment, and footwear industries, the most important wage-earning sector in Vietnam. Having understood in the context of a developing “market economy with socialist orientation” (thus a “Southern perspective”), we find that socially responsible practices and expectations developed long before the arrival of CSR as a western concept and an MNC agenda. While identifying and contributing ideas concerning forms of “informal” CSR practices—influenced by social and cultural expectations—to the CSR/SME literature, we are conscious of the mixed effects of these practices and the ongoing nuanced negotiations between workers and managers in these SMEs. In our research, we found that it takes both domestic and international stakeholders to improve labor conditions in Vietnam under the banner of CSR.     

Entrepreneurial opportunities and the entrepreneurship nexus: A re-conceptualization

The literature on “entrepreneurial opportunities” has grown rapidly since the publication of Shane and Venkataraman (2000). By directing attention to the earliest stages of development of new economic activities and organizations, this marks sound redirection of entrepreneurship research. However, our review shows that theoretical and empirical progress has been limited on important aspects of the role of “opportunities” and their interaction with actors, i.e., the “nexus”. We argue that this is rooted in inherent and inescapable problems with the “opportunity” construct itself, when applied in the context of a prospective, micro-level (i.e., individual[s], venture, or individual–venture dyad) view of entrepreneurial processes. We therefore suggest a fundamental re-conceptualization using the constructs External Enablers, New Venture Ideas, and Opportunity Confidence to capture the many important ideas commonly discussed under the “opportunity” label. This re-conceptualization makes important distinctions where prior conceptions have been blurred: between explananda and explanantia; between actor and the entity acted upon; between external conditions and subjective perceptions, and between the contents and the favorability of the entity acted upon. These distinctions facilitate theoretical precision and can guide empirical investigation towards more fruitful designs.     

Consumers as innovators in the electricity sector? Consumer perceptions on smart grid services

This article assesses the possibilities of using consumer innovation in the electricity sector, which is slow‐moving, yet faced with huge challenges and opportunities to become “smart” and “low carbon.” We study the benefits of engaging innovative consumers (“lead users”) in product, service, and business innovation in terms of (a) the capacity of lead user‐consumers to innovate in the highly regulated electricity market, (b) the attractiveness of such lead‐user generated ideas for mainstream consumers, (c) the usefulness of lead‐user engagement for companies in the energy industry, and (d) the usefulness of lead user engagement for the necessary broader societal transition processes. We conclude that consumers can stimulate industry‐wide innovation even in challenging contexts like “smart” and “low‐carbon” solutions and the highly regulated energy industry. Lead user‐consumers can also articulate societal and social responsibility concerns that are relevant for the entire market.     

The drift factor in biased futures index pricing models: A new look

The presence of bias in index futures prices has been investigated in various research studies. Redfield ( 11 ) asserted that the U.S. Dollar Index (USDX) futures contract traded on the U.S. Cotton Exchange (now the FINEX division of the New York Board of Trade) could be systematically arbitraged for nontrivial returns because it is expressed in so‐called “European terms” (foreign currency units/U.S. dollar). Eytan, Harpaz, and Krull ( 4 ) (EHK) developed a theoretical factor using Brownian motion to correct for the European terms and the bias due to the USDX index being expressed as a geometric average. Harpaz, Krull, and Yagil ( 5 ) empirically tested the EHK index. They used the historical volatility to proxy the EHK volatility specification. Since 1990, it has become more commonplace to use option‐implied volatility for forecasting future volatility. Therefore, we have substituted option implied volatilities into EHK's correction factor and hypothesized that the correction factor is “better” ex ante and therefore should lead to better futures model pricing. We tested this conjecture using twelve contracts from 1995 through 1997 and found that the use of implied volatility did not improve the bias correction over the use of historical volatility. Furthermore, no matter which volatility specification we used, the model futures price appeared to be mis‐specified. To investigate further, we added a simple naïve δ based on a modification of the adaptive expectations model. Repeating the tests using this naïve “drift” factor, it performed substantially better than the other two specifications. Our conclusion is that there may be a need to take a new look at the drift‐factor specification currently in use. © 2002 Wiley Periodicals, Inc. Jrl Fut Mark 22:579–598, 2002     

The “Ethics of Social Ideas” Versus The “Ethics of Marketing Social Ideas”

Can the public make a distinction between the “ethics of social ideas” versus the “ethics of marketing social ideas”? This question was empirically assessed via a survey research design. The evidence strongly suggests that individuals cannot totally separate the social idea from the marketing technique used to promote the idea. Also it was found that some social issues are more likely to foster strong ethical concerns than others. The implications of this research are discussed.     

Business Ethics: The Promise of Neuroscience

Cultural diversity is an increasingly important phenomenon that affects not only social and political harmony but also the cohesion and efficiency of organisations. The problems that firms have with regard to managing cultural diversity have been abundantly studied in recent decades from the perspectives of management theory and moral philosophy, but there are still open questions that require deeper reflection and broader empirical analysis. Managing cultural diversity in organisations is of prime importance because it involves harmonising different values, beliefs, credos and customs, and, in essence, human identity. Taking into consideration these cultural differences and harmonising them is a human rights issue (UNDP, Cultural liberty in today’s diverse world, 2004) and a central dimension of corporate social responsibility. Here we are going to focus on theoretical reflection about the ideas that lie behind corporate policies and organisational initiatives that deal with cultural diversity. The aim of our paper is twofold: to present a critical reflection on the ideology of tolerance, and propose an ideology of respect for dealing with cultural diversity. We start by presenting the plurality of interpretations of the concept of ideology, and justify its applicability to the field of cultural diversity. We then reflect on the differences between “tolerance” and “respect” and identifying the practical implications for managing cultural diversity. And finally, we propose a culture of respect that goes beyond tolerance and complements and legitimizes the “business case” perspective for managing cultural diversity in companies. The ideology of respect is based on the Kantian tradition and on the discursive approach where rational dialogue and argumentation are considered the legitimate process for creating a culture of intercultural respect. From this theoretical discussion of the key philosophical concepts we can suggest some general principles for managing cultural diversity in organisations.     

Dirty weekends and personal hygiene products: The embodiment of casual sex in marketing

In the current inquiry, we propose that reminders of casual sex might lead individuals to feel physically dirty, and this would then motivate consumers to acquire and like personal hygiene products such as toothpaste, body soap, and face wash. We further test the possibility that our hypothesized effect would arise mainly for those who link casual sex with impurity. In three studies, reminders of casual sex increase liking for personal hygiene products mainly among conservative (Study 1), religious (Study 2), and individuals who see “casual sex” to be “dirty,” “wrong,” or even “immoral” (Study 3). These findings are consistent with embodied cognition, suggesting that abstract representations can effect concrete sensations. We study this possibility in a novel domain in sex and sexuality. Our work is relevant to marketers of personal hygiene products, but we situate our findings in the broader discourse of how mere reminders of casual sex might influence individuals’ choices and behaviors.     

Combining Strategic Technologies to Facilitate the Teaching of International Business

SUMMARY

Strategic Planning, globally, is an important business activity. In today's competitive world the best of “soft” and “hard” support tools are required. Leading edge technologies can be used to overcome some of the problems which come from a group of human beings (and their history) sitting down to plan. Group Support System technology (GSS) (Lewis, 1993) allows issues to be divorced from the people proposing them. It allows discussion and organisation of ideas in a debate-like way. It provides instantaneous evaluation for prioritising. Strategic Conferencing (Phillips, 1984) with the help of a multi-attribute value model aims to support shared understanding and provide modelled scenarios of the consequences of allocating strategic resources in a particular way. Mental imagery, a “human technology,” releases the imaginal so that strategic ideas are fired with imagination as well as facts and forecasts. The case study used these three technologies for the planning of Health Care. They proved to be a viable combination.     

Marketing performance assessment and accountability: Process and outcomes

Marketing accountability, and how it may be achieved via performance assessment and metrics, have been central topics in both the marketing literature and practice (Katsikeas et al. 2016). Recent developments in digital channels, the accompanying explosion of data and emergence of marketing automation, the globalization of markets, and the rise of customer experience as a key firm priority have further magnified interest in and the importance of understanding how potential marketing outcomes are and can be achieved (CMO Survey, 2021; Mintz et al., 2021). As a result, gaining clarity on how to design and manage performance assessment systems to deal with these issues has never been more important. This paper argues that further progress in this research domain requires a deep understanding of the marketing performance assessment (MPA) process to provide both a catalyst and foundation for the next generation of research. Although there has been considerable research in the areas of marketing metrics and marketing accountability, much less attention has been paid to the MPA process that links them. Yet, the MPA process is essential to successful marketing management. To address this, we first review past research in this broad domain to answer the “Where have we been?” question that identifies theneed for a new conceptual model. Second, drawing on research findings both within the broad MPA domain and allied areas within and outside of marketing, we develop and detail a new conceptual model of the MPA process and use it to identify what really needs to be known but is currently unclear in this domain (i.e., “Where do we need to go?”). Third, we suggest how these areas of needed inquiry may best be investigated (i.e., “How do we get there?”) by identifying new perspectives, theories, data sources, and analysis approaches that may be productively employed in future research.     

Connections Among People,Things, Images,and Ideas: La Habana to Pina and Back

This paper is a photo essay of images of Cuba taken by the authors in the fall of 2003. Through an analysis of the photos, our initial goal is to deconstruct reigning tropes and myths surrounding Cuba. By implicitly asking, “what is a photo?” the essay also tackles the larger issues of representation, meaning creation and understanding—of marketplaces, consumption, brands, and culture. We suggest that photographer and subjects are both agents and producers of meaning and ideas in which the interplay becomes the source for analytic understanding. In the deconstruction we offer our sense of Cuba. In the end, the essay is a journey, intellectual and otherwise.     

Consuming abjection: an examination of death and disgust in the black metal scene

This paper examines abjection in the context of the extreme (black) metal scene. Moving beyond the ritual-heavy, community work that dominates much of the death-related consumption literature, our study pieces together death, violence, misanthropy, blood and social tensions to create novel insights into the consumption of disgust. Based on our interview and participant observation methodologies, we present work that explains how death-oriented consumption and abjection is manifested for some consumers and actually plays a role as an affront to mainstream orientations and the greater social order. Additionally, our work indicates that the use of abjection can be seen as a boundary and source of delineation between the “acceptable” and the “unacceptable” in society.     

Social corporations under the spotlight: A governance perspective

A series of new legal statutes for profit-seeking social ventures has emerged across geographic and institutional settings. Extant studies commonly do not make a clear distinction between these ventures. Such confusion leads to blurriness in research design and methodology, thereby limiting the relevance of findings. Moreover, researchers, entrepreneurs, and policymakers often lack a clear view of the unique organizational and governance aptitudes these ventures call for, to sustain and grow over time. Thus, this study has two objectives: (1) to clarify the panorama of novel companies that legally commit themselves to a social mission, gathered under the term “social corporation,” by providing a comprehensive typology of these organizations and (2) to identify the governance capabilities that social corporations develop to be sustainable and avoid mission drift in the long run. Our analysis of corporate-governing documents leads us to classify social corporations into three types: hard-law, soft-law, and bylaw. In addition to this typology, our multiple case study uncovers five key governance capabilities of social corporations related to performance, conformance, and responsibility—the main pillars of organizational governance. Overall, our work contributes to a better understanding of novel forms of social entrepreneurship emerging on the market. More important, it casts light on the governance processes that characterize them.     

Sensemaking About Business-to-Business Strategies and Relationships: A Commentary on Reid and Plank's Review

ABSTRACT

Weick (1995) describes retrospection as a distinguishing characteristic of sensemaking: “people can know what they are doing only after they have done it” (p. 24) and “how can I know what we did until I see what we produced” (p. 30). While each of us engages in sensemaking implicitly, applying explicit sensemaking tools-such as written retrospection-helps to clarify and deepen our understanding of phenomena. Reid and Plank's business-to-business marketing retrospection of more than 2,500 journals, proceedings, and book references from 1978–1997 serves well as a sensemaking tool. A strength of Reid and Plank's retrospection is its breadth of coverage of topics and sources. Limitations of their review include the lack of coverage of key findings from the cited empirical studies and the failure to develop theoretical propositions on relationships and strategies. By reading Reid and Plank's review, both new and lifelong students of business-to-business marketing will find useful references and insights for improving sensemaking capabilities.     

E Pluribus Unum? Legitimacy Issues and Multi-stakeholder Codes of Conduct

Regulatory schema has shifted from government to governance-based systems. One particular form that has emerged at the international level is the multi-stakeholder voluntary code of conduct (MSVC). We argue that such codes are not only simply mechanisms by which various stakeholders attempt to govern the action of the corporation but also systems by which each stakeholder attempts to gain or retain some legitimacy goal. Each stakeholder is motivated by strategic legitimacy goal to join the code, and once a member, is also required to assist in maintaining the institutional legitimacy of the code, resulting in “networked legitimacy.” We begin our analysis of these systems by first exploring the growth and structure of such MSVCs, and then building an analytical framework using strategic and institutional legitimacy as they apply to such MSVCs. We contribute to the codes of conduct literature by developing the construct of networked legitimacy from strategic and institutional legitimacy. We then apply our framework to the United Nations Global Compact, one of the predominant MSVCs today. In doing so, we: (1) demonstrate how different stakeholders are pursuing different types of legitimacy through their participation in the code, (2) examine the specific opportunities and risks in terms of what we have called “networked legitimacy” posed by the institutional design of actual MSVCs, and (3) create an argument for three pillars supporting the legitimacy of MSVCs.     

Flying with a net,and without: Preventative devices and self-control

Excessive consumption of many vice goods (e.g., alcohol) has both possible immediate (e.g., a drunk-driving crash) and delayed (e.g., liver disease) negative consequences. This research models the consumption choices of a consumer population with heterogeneous impatience and varying degrees of sophistication in conjunction with both immediate and delayed consequences of excessive vice good consumption. We show that even when a preventative device (e.g., a designated driver) that could eliminate the immediate dangers is available for (almost) free, some consumers forgo it in order to try to use the immediate danger as a soft tool to regulate excessive consumption (e.g., “If I know I don't have a designated driver, then I won't drink too much.”). Surprisingly, this “flying without a net” is a successful strategy for some consumers, and we quantify when it is likely to be successful versus harmful. This counterintuitive result has many consequences; e.g., public policies that make the provision of preventative devices compulsory could increase consumer welfare under certain conditions but overall are not Pareto-improving. Likewise, advertising campaigns that exaggerate the likelihood of immediate dangers may be welfare decreasing despite their good intentions. In exploring the effect of our model on pricing of preventative device, we find that pricing is not monotonic in the probability of danger. We also show that consumer pessimism about self-regulation can induce consumers to experience a “boomerang effect” of overconsumption in the presence of a preventative device. Overall our research shows that the relationship between prevention and risk is not as simple as might be assumed in standard analyses and that marketers and public policymakers often need to consider the short-term and the long-term risks as well how prone the consumers are to temptation and how sophisticated they are in judging their temptation.     

The marketing message: Being broadcast loud and clear?

Communication lies at the very heart of marketing; but how well do marketers and marketing academics communicate? Academics, including those in marketing, have been criticized for putting their ideas across in a complex and unclear way. Marketing academics may have some valuable new ideas to “sell” to practitioners; but are they so product orientated that they are ignoring the communications needs of their potential customers? This paper tries to explore the importance of clear communications for academics and practitioners; and to survey how clearly we are communicating through the channel of marketing journals in particular.     

The Relationship Between Strategic Supply Chain Integration and Performance: A Meta‐Analytic Evaluation and Implications for Supply Chain Management Research

Although research evaluating the impact of supply chain integration on performance has advanced substantially in the last decade, inconsistency and considerable variability of empirical findings leave unanswered questions for both research and practice. Using a meta‐analysis, we examine empirical studies to clarify the actual relationship, suggest new directions, and ultimately contribute toward the development of supply chain management theory. We focus on “strategic” supply chain integration rather than on functional or operational/tactical studies, which would weaken the practical value of the analysis and findings. To ascertain focus and homogeneity of the sample, we adopt a rigorous search protocol and sample construction. We find that integration–performance relationships are complex and nuanced such that integration should not be universally viewed as improving performance. We identify relationships that are more generalizable and also those that need additional scrutiny. Finally, we discuss the implications of our findings and provide directions for future research.