Roadmapping: (Missed) opportunities to overcome strategic challenges

Firms face various critical challenges when pursuing a coherent course of action that seeks to create value for the long term. They are required to balance myopic and hyperopic behavior. They must ensure coordination, adopt a holistic view of various functional perspectives, and foster commitment among key decision makers. They need to develop a credible and compelling line of reasoning that employees understand and can act on. Adopting the perspective of roadmapping as a strategy tool, this article advances the argument that roadmapping is especially suitable in helping firms to surmount these three critical strategic challenges. This article distills three core features of the roadmap: graphical representation, multi-disciplinary integration, and scaling. It then reviews the three critical strategic challenges and shows how roadmapping can help to overcome each of these. Following this explanation, the article describes ten key principles for effective strategic roadmapping that support firms in obtaining the strategic benefits promised. The article concludes with additional insights for practice with the intent of encouraging further exploitation of roadmapping’s potential.     

A Sustainable Pathway to Consumer Wellbeing. The Role of Anticonsumption and Consumer Empowerment

This study investigates the effect of different anticonsumption constructs on consumer wellbeing. The study assumes that people will only lower their level of consumption if doing so does not also lower personal wellbeing. More precisely, this research investigates how specific subtypes of sustainable anticonsumption (e.g., voluntary simplicity, collaborative consumption, and debt-free living) relate to different states of consumer's wellbeing (e.g., financial, psychosocial, and subjective wellbeing). This work also examines whether consumer empowerment can improve personal wellbeing and strengthen the anticonsumption wellbeing relationship. The results show that voluntarily foregoing consumption does not reduce wellbeing and consumer empowerment plays a significant role in supporting sustainable pathways to consumer wellbeing. This study reasons that empowerment improves consumer sovereignty, but may be detrimental for consumers heavily concerned about debt-free living. The present investigation concludes by proposing implications for public and consumer policymakers wishing to promote appropriate sustainable (anticonsumption) pathways to consumer wellbeing.     

Value Creation,Management Competencies,and Global Corporate Citizenship: An Ordonomic Approach to Business Ethics in the Age of Globalization

This article develops an “ordonomic” approach to business ethics in the age of globalization. Through the use of a three-tiered conceptual framework that distinguishes between the basic game of antagonistic social cooperation, the meta game of rule-setting, and the meta-meta game of rule-finding discourse, we address three questions, the answers to which we believe are crucial to fostering effective business leadership and corporate social responsibility. First, the purpose of business in society is value creation. Companies have a social mandate to organize mutually advantageous cooperation. Second, business ethics should teach the management competencies necessary to fulfill business’s societal mandate. These competencies are optimization competence in the basic game of value creation, governance competence in the meta game of (political) rule setting, and the three discourse-related skills of orientation competence, reception competence, and communication competence necessary for engaging in the meta-meta game. Third, companies can help solve global problems through global corporate citizenship if they participate as political and moral actors in rule-setting processes and rule-finding discourse aimed at laying the foundation for value creation on a global scale.     

III. Weltwirtschaft und Wirtschaft einzlner Länder und Gebiete

Ohne Zusammenfassung     

Protectionism and international banking : Sectorial efficiency, competitive structure and National policy

This paper deals with barriers to trade in services. More specifically, the paper deals with competition and its absence in the provision of international intermediation services by banks. Section 2 of the paper examines the substitutability of international trade and FDI (foreign direct investment) in the services sector as a basis for international competition. It also considers the overlap between commercial policy measures and regulations governing the entry and operations of foreign affiliates. Section 3 describes the types of restrictions imposed on foreign banks and evaluates their effects. Existing practices in some countries are outlined in the fourth section. The countries are the U.S., the U.K., Switzerland, Australia, Brazil and Taiwan. Section 5 evaluates competitive conditions in offshore banking centers, and compares them with conditions in onshore markets. The last section evaluates the costs and the benefits of an ‘open’ (free-trade) banking system. Such a system will tend to improve world welfare as well as the welfare of those countries who have a comparative advantage in international banking. The results are not clear with regard to the countries who have a comparative disadvantage in banking.     

What Determines Demographic Similarity Between Incumbent CEOs and Their Successors? A CEO Informal Power Perspective

As CEOs reach the end of their tenure, they attempt to influence the decision about who will replace them in order to safeguard what they have put in place. This prompts them to favor candidates who share similar demographic profiles whom they believe will carry on where they leave off. We suggest that as CEOs are not usually given the authority to name a successor, they make use of informal power to exert their influence. We test our hypotheses on a sample of 137 CEO successions in 67 German diversified companies between 1985 and 2007 and find strong support for our theoretical reasoning that the more informal power incumbent CEOs have, the greater the demographic similarity between them and their successors. Copyright © 2014 John Wiley & Sons, Ltd.     

Rank friction: an ordinal approach to persistent profitability

We present an ordinal method for studying persistence in firm profitability. The method is based on the degree of stability in a ranked performance distribution over time. The method gives a numerical index of rank friction (Rf) that can be applied to any ranked data over any period of time. Rf is nonparametric and can be used to test theoretical assumptions in strategic management. We illustrate the method in an empirical study of 40 years of profit data in 12 industries. Copyright © 2010 John Wiley & Sons, Ltd.     

Career Exploration and Perceived Employability within an Emerging Economy Context

Following four decades of unprecedented economic, social, and cultural change, the United Arab Emirates (UAE) labor market is highly segmented: The native population is almost exclusively employed in the government sector, while the private sector is effectively outsourced to foreigners. This has created an unsustainable situation with growing numbers of young citizens reaching working age and with a public sector that has reached the saturation point. Policymakers repeatedly try to legislate to encourage private‐sector employers to hire citizens. These policies have had limited success. We explored the career attitudes of 2,267 United Arab Emirates citizens prior to their entry into the labor market. Using structural equation modeling, we found that the social contract and resulting expectations toward state employment have strong implications for willingness to work in the private sector. © 2014 Wiley Periodicals, Inc.