Developing Sustainable Strategies: Foundations,Method, and Pedagogy

While the United Nations Principles of Responsible Management Education (PRME) are a very positive development in the horizon of management education over the last decade, there are still many significant challenges for engaging the mind of the manager in ways that will foster the values of PRME and the UN Global Compact. Responsible management education must address three foundational challenges in business education if it is to actualize the aspirations of PRME: (1) it must confront the cognitional myth that knowing is like looking, (2) it must move beyond mere analysis to systems thinking, and (3) it must transition from a values-neutral stance to a values-driven stance. Using Developing Sustainable Strategies, an MBA practicum in the Sustainable Management Concentration at DePaul University’s Kellstadt Graduate School of Business as a case study, this article identifies the ways in which Pragmatic Inquiry can address these challenges. The method of Pragmatic Inquiry prepares students to become responsible managers, to develop sustainable strategies, and to be creators of shared value. Built from the philosophical foundations of American pragmatism and Bernard Lonergan’s critical realism, Pragmatic Inquiry is an effective method and pedagogy for responsible management education.     

Options pricing under the one-dimensional jump-diffusion model using the radial basis function interpolation scheme

This paper will demonstrate how European and American option prices can be computed under the jump-diffusion model using the radial basis function (RBF) interpolation scheme. The RBF interpolation scheme is demonstrated by solving an option pricing formula, a one-dimensional partial integro-differential equation (PIDE). We select the cubic spline radial basis function and adopt a simple numerical algorithm (Briani et al. in Calcolo 44:33–57, 2007) to establish a finite computational range for the improper integral of the PIDE. This algorithm reduces the truncation error of approximating the improper integral. As a result, we are able to achieve a higher approximation accuracy of the integral with the application of any quadrature. Moreover, we a numerical technique termed cubic spline factorisation (Bos and Salkauskas in J Approx Theory 51:81–88, 1987) to solve the inversion of an ill-conditioned RBF interpolant, which is a well-known research problem in the RBF field. Finally, our numerical experiments show that in the European case, our RBF-interpolation solution is second-order accurate for spatial variables, while in the American case, it is second-order accurate for spatial variables and first-order accurate for time variables.     

Reward strategy: Time for a more realistic reconceptualization and reinterpretation?

This article focuses on organizations' continued struggles to design and implement successful and credible reward strategies. We argue that a major and neglected factor that accounts for this is how reward strategies are designed and executed with insufficient attention given to employee preferences for different types of reward. We argue that this is both a problem of process in the way reward systems are designed and a problem of how models of reward strategy are built. Developing more effective reward strategies requires a better understanding of holistic rewards and greater attention to line management roles in their implementation. © 2010 Wiley Periodicals, Inc.     

Towards a Strategy for Knowledge Management

Knowledge management is emerging as a significant organizational and management challenge. The pressures of the emergence of the global knowledge economy, and recognition of knowledge as a key and intangible asset are making the effective management of knowledge a priority. This surge of interest has paid relatively little attention to the object of management-knowledge. Epistemologists and sociologists have produced a variety of definitions and classifications, but there is no consensus. However, with the growth in IT capability, a clear operational distinction can be drawn between information and knowledge. The former can be captured, stored and transmitted in digital form. The latter can only exist in an intelligent system. This distinction is used to develop models of the interaction between knowledge and information, and of the appropriate balance between the two in different situations. On the basis of this model, the challenges of 'knowledge management' are: Establishing and optimizing the information-knowledge balance appropriate to (or providing a competitive advantage) a company or industry; Implementing IT-based productivity improvements in information management; Implementing people- and socially-based mechanisms to enhance knowledge management; Explicitly addressing the knowledge-information interface and mechanisms for improving the processes of transition from information to knowledge, and from knowledge to information; Identifying and maintaining the core knowledge of an organization.     

Understanding the Decline of China's State Sector

MOCT-MOST: Economic Policy in Transitional Economies -     

Anticounterfeiting Strategies and Their Influence on Attitudes of Different Counterfeit Consumer Types

This article reports the findings of two studies that were designed to determine the effectiveness of several anticounterfeiting strategies on the counterfeit purchasing behavior of the participants, through a mixed methods research approach. In Study 1, in‐depth interviews were conducted with 50 consumers of counterfeit brands in order to investigate their attitudes. Drawing on the results, which revealed four different consumer types (struggle, spurious, indifferent, and liberated), Study 2 was undertaken with a further 128 consumers (32 from each type) to further define each group's type and identify the best anticounterfeit strategies suited to each. The findings suggest that counterfeit purchasing may be reduced if a specific strategy is adapted to suit each typology. Overall, positive rather than negative strategies were found to be more effective for the struggle and spurious consumers compared with indifferent and liberated consumers. The findings also reveal that the acquisition of affordable genuine merchandise may be the key to preventing counterfeit purchasing.