The new deal at the top

What makes a company strategically agile--able to alter its strategies and business models rapidly in response to major changes in its market space, and to do so repeatedly without major trauma? Three years of in-depth case research on a dozen large companies worldwide showed the authors that one key factor is a new leadership model at the top. Senior executives at agile companies assume collective rather than individual responsibility for results. They build interdependencies among units and divisions, motivating themselves to engage with one another, and carefully manage their dealings to promote collaboration that is frequent, intense, informal, open, and focused on shared issues and the long term. Challenges to conventional thinking are encouraged. This is the new deal, and it's not easy to strike, because it requires executives to act in ways that are far from comfortable. After all, the corporate ladder at most firms favors independent types with a deep need for power and autonomy. At executive meetings, disagreement is suppressed or expressed passive-aggressively, eroding any real sense of belonging to a team. Switching to the new deal almost always requires a huge shift in the company's culture, values, and norms of interaction. The authors describe three approaches to making the shift: Executives can be given formal responsibility not for a business unit but for different stages in the company's value chain. This worked well for SAP, which has a relatively focused business portfolio. When a company's portfolio is less uniform, like Nokia's, business and functional units can be organized to crisscross on a matrix. And when a company is widely diverse, like easyGroup, it can emphasize the learning opportunities that units with common business models may share.     

积极探索业务监管工作新思路

几年来,我们始终把业务监管作为协会工作重中之重,找准监管工作的定位,坚持监督与指导相结合、处罚与教育相结合、管理与服务相结合,不断深化业务监管体系建设,积极探索行业监管工作新思路.     

推动公平的经济增长

推动公平的经济增长对中国意味着什么?一篇最新的世行报告提供了这方面的研究成果     

引进国外核心系统的融合之路

作为银行操作系统的基础．核心业务系统的引进一向被视为银行的“心脏移植”。其难点不仅在于要找到适合银行自身的产品．更在于移植来的“心脏”要和现有的业务及管理血脉融合，只有这样才能实现银行业务的优化和管理的国际化。     

《美少女特攻队》：通往自由的路

在幻与梦的边缘,现实是虚无缥缈的,如同通往自由的路。迈克尔.贝执导的《变形金刚》系列和以詹姆斯.卡梅隆精心烹制的《阿凡达》为代表作的技术军团,将电影艺术带到了一个更加精湛的制作空间;此后,克里斯托弗.诺兰又用＂梦＂堆积起《盗梦空间》,     

新一代数据中心: 行业信息化的未来之路

近年来，各大行业的数据大集中战略在中国蔚然成风，各种规模的数据中心在中国不断涌现。但是面对行业变化速度的不断加快，CIO们发现，当前数据中心因为缺乏适应变化的能力，不仅无法为业务提供实时支持，而且资源利用率低，成本也越来越高昂。     

The development decades : A road to recovery

This article looks at how less-developed countries suffered an almost complete disintegration of their financial markets through the belief that they could foster growth by sheltering themselves from the vagaries of the global financial system. It also looks at how LDC markets could be rebuilt to prosper in the future.     

The myth of the top management team

Companies all across the economic spectrum are making use of teams. They go by a variety of names and can be found at all levels. In fact, you are likely to find the group at the very top of an organization professing to be a team. But even in the best of companies, a so-called top team seldom functions as a real team. Real teams must follow a well-defined discipline to achieve their performance potential. And performance is the key issue--not the fostering of "team values" such as empowerment, sensitivity, or involvement. In recent years, the focus on performance was lost in many companies. Even today, CEOs and senior executives often see few gains in performance from their attempts to become more teamlike. Nevertheless, a team effort at the top can be essential to capturing the highest performance results possible--when the conditions are right. Good leadership requires differentiating between team and nonteam opportunities, and then acting accordingly. Three litmus tests must be passed for a team at the top to be effective. First, the team must shape collective work-products--these are tangible performance results that the group can achieve working together that surpass what the team members could have achieved working on their own. Second, the leadership role must shift, depending on the task at hand. And third, the team's members must be mutually accountable for the group's results. When these criteria can be met, senior executives should come together to achieve real team performance. When the criteria cannot be met, they should rely on the individual leadership skills that they have honed over the years.     

The road to economic recovery: Pandemics and innovation

In this paper, we investigate the economic consequences of pandemics from an idea-based theory of economic growth. We assume that pandemics pose a threat to research productivity and analyse the long-term consequences of pandemic shocks to innovation output. We demonstrate that following a pandemic, innovation output is disrupted for approximately seven years. The effect of pandemic shocks on innovation output varies between countries, and sector to sector regarding economic activity. Pandemic shocks lead to a short-term drop in the number of patent applications. Crucially, the duration of a pandemic has a strong effect on innovation output. Overall, the effects of this most recent pandemic on future innovation output, and subsequently on growth, are expected to be felt long into the future. This paper supports the policies designed to reduce the effect of the “Great Lockdown” on research productivity. Policies that target the more innovative firms are moving in the right direction in terms of reducing the time it will take for innovation to recover from the effects of COVID19.     

重走长征路抒怀

千里之行，始于足下；艰难困苦，玉汝于成。重走二万五千里长征路，踏着先烈的足迹，置身一片片曾经战火纷飞的热土和圣地，感慨万千，情操一次又一次受到陶冶，心灵一次又一次受到震撼……     

车师古道行记

魅力新疆 久居城市,听倦了世俗社会的纷繁喧嚣,看厌了钢筋铁骨的高大建筑.6月,这个外出旅行的好季节,我们踏上了前往车师古道的征途.     

走上监管之路

六年前,为了防范亚洲金融危机对本来就脆弱的内地金融业造成冲击,中央召开全国金融工作会议,对整顿金融秩序、防范金融风险做出了重要部署;并于第二年撤销了中国人民银行31个省级分行,成立了九大跨省区分行和两个总行营业管理部,同年5月中央金融工委正式挂牌,统领所有金融行业的监管工作。 整整六年过去了,原来的举措到底起没起到有效的作用呢?笔者以为,这五年正是中资银行债台高筑、愈发苦不堪言的时期,中央银行的监管职能并没有促进中资银行资产质量好转。究其原因,有些学者认为在于中央银行还掌握着另一项重要职能——货币政策。 2003年4月28日,银监会正式挂牌成立,这对于我国的金融监管又意味着什么呢?请看     

Convergence to market efficiency of top gainers

This study investigates the convergence process toward efficiency of daily top gainers. The convergence process toward efficiency is much clearer as a result of using a GARCH(1, 1) model compared to the OLS model, and exhibits a monotonic decline as the time interval increases. The relationship between volatility and order imbalances is, however, not strong enough, suggesting that market makers do have the capability to reduce price volatility. This study develops an imbalance-based trading strategy, which earns a positive profit but fails to outperform the buy-and-hold strategy (i.e., open-to-close returns). A nested causality approach, which examines the dynamic return–order imbalance relationship during the price-formation process, confirms the results.     

Unbundling tolls from contracts: a new road PPP model

Considerable evidence from different countries has revealed important shortcomings in most road public–private partnership (PPP) models. In this paper a new PPP model is presented that overcomes some of the problems found in PPP road contracts. The new model is based on separating user tolls from the fees paid to PPP contractors and setting up new institutional arrangements to oversee PPPs.     

联想的投资之路

2001年,成立于1984年的联想集团经过多年发展已经在中国本土市场的PC制造和IT分销领域形成了优势地位,根据业务发展需要分拆为从事电脑业务的联想集团和从事分销业务的神州数码集团,在两大业务集团之上成立联想控股,形成了投资控股型的集团构架。拆分之后,母公司联想控股主要依靠联想集团和神州数码上缴利润的方式生存,股东们认为这两家公司都处在高风险的IT行业,     

从农村金融的“坚守者”到“引领者”——江西省农信社信息化之路

江西省农村信用社联合社信息科技部总经理侯志红：江西省农信社利用后发优势,用科学发展观统领信息化建设全局,利用成熟的应用系统实现了信息化建设的跨越式发展,6年的时间,走出了一条具有农村信用社特色的信息化建设之路。