Acceptable risk—an overview

This paper offers an overview of the concept of acceptable risk. Variations in the definition of risk are addressed as well as criteria for measuring and evaluating risk. Risk acceptance depends on many factors, some of which are highlighted. The myth of zero risk is addressed with relevant examples such as dioxin and the U.S. space program. Practical applications of acceptable risk concepts are discussed, featuring the RISK MATRIX from system safety MIL-STD-882. Some sample guidelines and benchmarks are offered.     

Articulation work from the middle—a study of how technicians mediate users and technology

This article studies the work performed by technicians in a large demonstration project, EcoGrid 2.0, in the Danish island Bornholm. Based on observations of household visits conducted by technicians, we demonstrate how these act as ‘middlemen’, mediating and linking together the smart technology of the demonstration and the involved users. Formally, technicians’ work is to keep users online; however, they also perform a number of invisible tasks to keep users engaged and active. Our ethnographic study shows two broad categories of invisible work: first, technicians continually facilitate the willingness of users, recurrently affirming the social contract between users and demonstration project. Second, technicians facilitate the abilities of users by improvising informal training sessions of how to operate the system. These findings are used to discuss the importance of invisible articulation work of technical service workers in large scale real‐world experiments.     

Reconciling logical incrementalism and synoptic formalism—an integrated approach to designing strategic planning processes

The advocates of logical incrementalism and synoptic formalism in strategic planning emphasize, respectively, the interactive and analytical dimensions of the planning process. This paper suggests a framework for designing planning processes that permits a symbiotic integration of both approaches. In particular, synoptic exercises scheduled at intervals of more than a year, with incremental exercises in the intervening years are recommended.     

Within‐industry diversification and firm performance—an S‐shaped hypothesis

This study shows that the interplay between “adjustment costs”, “coordination costs” and within‐industry diversification benefits, results in an S‐shaped relationship between within‐industry diversification and firm performance. At low levels of within‐industry diversification, coordination costs are negligible but “adjustment costs” are higher than the synergy benefits of a limited product scope, hence leading to negative performance outcomes. At moderate levels of within‐industry diversification synergies between related product categories substantially increase and outweigh the rise in adjustment and coordination costs, resulting in positive performance outcomes. Yet, extensive within‐industry diversification gives rise to considerable coordination costs, which, coupled with adjustment costs, outweigh synergy effects and hamper performance. The study further shows that a greater change rate of within‐industry diversification results in negative performance outcomes. Copyright © 2014 John Wiley & Sons, Ltd.     

“This angle that we talked about”: learning how to weld in interaction

The specific focus of this article is how critical aspects of the object of learning to weld are made relevant in interaction between a vocational teacher and a student in the learning processes of welding as part of a Swedish upper-secondary technical vocational education programme. By intertwining variation theory with a conversation analytical approach, our analysis shows that the teaching focus alternates between the process as a whole and details about the welding process, and how the relation between the critical aspects are negotiated in the teaching situations. Furthermore, the teacher and the student together build up a common resource of experiences to which they can relate the parts and the whole, and the teaching becomes increasingly subject specific as the teacher and student build up more common experiences. The approach used in this article sheds light on the complexity of learning to weld, and also facilitates an understanding of welding as an object of learning as such.     

企业作为项目法人如何管好国债资金的思考

我国近年来持续实行积极的财政政策,安排大量的国债专项资金用于基础设施建设项目,而其中一部分项目是由企业作为项目法人实施.国债资金管理对企业而言是陌生且严肃的,如何管好这项资金也就成为企业的财务管理人员研究的课题.笔者作为一名企业中层财务管理人员,对如何管好国债资金提出几点建议.     

Competitors' responses to easily imitated new products—exploring commercial banking product introductions

The article describes an applied research project in which existing theory from the policy and organization theory literature was used to develop a rationale for estimating response times of competitors to easily imitated new products. A specific study of commercial banking product introductions is reported.     

Enabling open innovation in small‐ and medium‐sized enterprises: how to find alternative applications for your technologies

A critical success factor in the practice of Open Innovation is the timely identification of opportunities for out‐licensing a firm's technologies outside its core business. This can be particularly challenging for small‐ and medium‐sized enterprise (SMEs), because of their focussed business portfolio, specialized knowledge basis, and limited financial resources that can be devoted to innovation activities. The paper illustrates a quick and easy‐to‐use methodology for the identification of viable opportunities for out‐licensing a firm's technologies outside its core business. The method uses established TRIZ instruments in combination with non‐financial weighting and ranking techniques and portfolio management tools. It has been developed by the authors in collaboration with an Italian SME working in the packaging industry.     

A model of person‐pay interaction: how executives vary in their responses to compensation arrangements

A wealth of research indicates that both executive characteristics and incentive compensation affect organizational outcomes, but the literatures within these two domains have followed distinct, separate paths. Our paper provides a framework for integrating these two perspectives. We introduce a new model that specifies how executive characteristics and incentives operate in tandem to influence strategic decisions and firm performance. We then illustrate our model by portraying how executive characteristics interact with a specific type of pay instrument—stock options—to affect executive behaviors and organizational outcomes. Focusing on three individual‐level attributes (executive motives and drives, cognitive frame, and self‐confidence), we develop propositions detailing how executives will vary in their risk‐taking behaviors in response to stock options. We further argue that stock options will amplify the implications of executive ability, such that option‐heavy incentive schemes will increase the performance of talented executives but worsen the performance of low‐ability executives. Our framework and propositions are meant to provide a starting point for future theorizing and empirical testing of the interactive effects of executive characteristics and incentive compensation on strategic decisions and organizational performance. Copyright © 2010 John Wiley & Sons, Ltd.     

Differences in managerial discretion across countries: how nation‐level institutions affect the degree to which ceos matter

The concept of managerial discretion provides a theoretical fulcrum for resolving the debate about whether chief executive officers (CEOs) have much influence over company outcomes. In this paper, we operationalize and further develop the construct of managerial discretion at the national level. In an empirical examination of 15 countries, we find that certain informal and formal national institutions—individualism, tolerance of uncertainty, cultural looseness, dispersed firm ownership, a common‐law legal origin, and employer flexibility—are associated with the degree of managerial discretion available to CEOs of public firms in a country. In turn, we show that country‐level managerial discretion is associated with how much impact CEOs have on the performance of their firms. We also find that discretion mediates the relationship between national institutions and CEO effects on firm performance. Finally, we discuss two inductively derived institutional themes: autonomy orientation and risk orientation. Copyright © 2011 John Wiley & Sons, Ltd.