Prolonged gestation: Energy efficiency and renewable energy businesses

Life cycle theories suggest that businesses evolve through a number of stages: from an embryonic stage of introduction to growth, maturity, and decline. The force that propels their development is consumer acceptance. Industries pass through life cycles as well. However, not all industries pass through each stage of the life cycle, and the duration of stages varies across industries. Some industries skip the slow introductory phase; others avoid the decline stage and are continually revitalised through technological innovation. Still others continue to show substantial promise, but fail to take-off. It is this industry condition, persistent promise without corresponding growth, that we characterise as extended gestation. We believe that energy efficiency and renewable energy (EERE) businesses in Minnesota face the challenge of extended gestation. In this paper, we review the literature on the traditional stages of industry development, explore some of the factors that may lead an industry to remain in a state of extended gestation, and report the results of a study undertaken to better understand the factors that affect the growth of EERE businesses.     

Developing future hotel managers in Taiwan: from an industry viewpoint

The purpose of the study was to investigate and identify competencies needed for entry-level hotel managers from the industry professional's point of view. A survey instrument was used to gather data from present hotel managers in Taipei, Taiwan. Competencies identified in this survey, as being important by entry-level managers, could be a foundation for development of hospitality management curricula in Taiwan.     

SYNERGY,DIVERSIFICATION, AND INCENTIVE EFFECTS OF CORPORATE MERGER ON BONDHOLDER WEALTH: SOME EVIDENCE

The theory relating to the effects of a merger on the wealth of bondholders implies countervailing results. On the one hand, bondholders might share the benefits of operating synergies and diversification with shareholders. On the other hand, they might suffer from an incentive effect—the expropriation by the shareholders. Studies by Kim and McConnell (1977) and Asquith and Kim (1982) find that the wealth of bondholders is not significantly affected by conglomerate mergers. Using a more inclusive sample and a different methodology, this study finds that the wealth of bondholders is affected positively by merger, which implies synergies to bondholders and/or a diversification effect. Furthermore, an incentive effect would be inferred if leverage were increased substantially after merger and if the size of the increase were inversely related to bondholder gains. Since neither of these events is observed, this study finds no evidence for an incentive effect.     

Prospects for industrial relations in NHS trusts

This article looks at management's intended strategies in the new self-governing trusts in the National Health Service. It finds that many managers are planning far-reaching changes affecting union recognition and pay systems. Because of the relative weakness of the staff organisations, they are likely to meet little effective opposition.     

GM crops on trial: Technological development as a real-world experiment

Through the European controversy over agricultural biotechnology, genetically modified (GM) crops have been evaluated for an increasingly wide range of potential effects. As the experimental phase has been extended into commercial practices, the terms for product approval have become more negotiable and contentious. To analyse the regulatory conflicts, this paper links three theoretical perspectives: issue-framing, agri-environmental discourses, and technological development as a real-world experiment.Agri-biotechnological risks have been framed by contending discourses, which attribute moral meanings to the agricultural environment. Agri-biotech proponents have emphasised eco-efficiency benefits, which can remedy past environmental damage, while critics have framed ‘uncontrollable risks’ in successively broader ways through ominous metaphors of environmental catastrophe. Regulatory authorities have translated those metaphors into measurable biophysical effects. They anticipate and design commercial use as a ‘real-world experiment’, by assigning greater moral-legal responsibility to agro-industrial operators who handle GM products.Expert-regulatory debate reflexively considers the social discipline necessary to prevent harm, now more broadly defined than before. Official procedures undergo tensions between predicting, testing and prescribing operator behaviour. In effect, GM crops have been kept continuously ‘on trial’.     

Auditor–client management relationships and roles in negotiating financial reporting

We carry out an interview based field study of chief financial officer (CFO)–audit partner dyads to examine the assumption that the roles played by each side and the nature of the relationships are similar across negotiations. These dyads freely discussed with us their relationship, a specific issue negotiated and it’s resolution process. Employing the lens of social positioning negotiation research, we find these negotiations are ‘fluid’, with continual redefinition not only of the substantive issues under negotiation, but also of the negotiation roles and relationships (i.e. ‘shadow’ negotiations). The CFO’s actions and expectations in these ‘shadow’ negotiations appear to define the auditor’s role and the relationship’s parameters, but both can evolve over time. The audit partners express a desire to be in the “ideal” relationship where they assume the role of the ‘expert advisor’ (as opposed to a ‘police officer’) but they seemingly have no explicit strategy to move the relationship toward a ‘proactive’ (rather than ‘reactive’) state. Furthermore, the audit partner is always the ‘relationship manager’ whose job it is to see that client management remains “happy”. These roles and relationships negotiated in the ‘shadows’ also affect how the negotiation process unfolds, including the set of alternative accounting treatments considered during negotiations. Finally, audit firms appear to manage the assignment of partners to engagements based on CFO preferences and remove those partners who are in “poor” relationships, irrespective of why the relationship is considered by the CFO to be “poor”. Implications for the broader research program on auditor–client management negotiations are discussed.     

Status Report: The Corporation and Trends in Family Issues

The two-paycheck family is making new demands on the corporation. With both parents involved in family and work life, the corporation, if it wants to keep these professionals in the workforce, must consider new, flexible approaches to management. Under review are policies concerning parental leave, child care, flexible work schedules, cafeteria-style benefits, and a new corporate consideration of the importance of family life. At this time, it appears that the greatest impetus will come from the courts and Congress, with family-oriented legislations being considered for the presidential year of 1988.     

Teaching Managers to Respond Ethically to Organizational Crises: an inquiry into the case method

Many managers now routinely receive training in business ethics using the case method. However the efficacy of this training has not been studied. Organizational crises, in the form of cases which present managers with ethical dilemmas, are commonly used to illustrate principles in business ethics courses. As illustrated in the classroom, these organizational ethical crises often result in severe financial consequences for the organization involved such as litigation or bankruptcy. The present study assessed the potential of the case method for teaching managers to respond ethically to organizational crisis. The author also assessed the role of organizational and ideographic factors in determining which managers would choose to act. Managers who had received classroom training in ethical case analysis were compared to those who had not. The majority in both groups of managers chose to take action when confronted with ethical dilemmas. However, managers who had received ethical training were more likely to act in some ethical situations than managers who had not. The ethical culture of an organization and the gender of the managers was also found to influence managerial action in response to ethical dilemmas.