If only consumers knew: How sampling impacts wine innovation diffusion in the U.S. foodservice industry

A survey (n = 151) explored consumers’ experiences with wine-on-tap, a current trend in the U.S. foodservice industry. Wine consumers’ innovativeness (R² = .49) was explained by wine involvement, opinion leadership, and usage of information sources. Those who recently tried wine-on-tap (n = 43) were significantly more innovative (innovators) than those who never tried it (noninnovators). Furthermore, noninnovators expected to pay significantly less for a glass of wine-on-tap when compared with wine poured from a bottle. Contrary to expectations, the driving force for noninnovative behavior is lack of availability and awareness as opposed to a lack of interest in wine-on-tap.     

Understanding Firms’ Approaches to Voluntary Certification: Evidence from Multiple Case Studies in FSC Certification

Voluntary certifications, such as Forestry Stewardship Council (FSC) in the forestry sector, are used to manage sustainable and socially responsible practices in firms. Even though the certifications are based on standards, it has been reported that adopting firms are nothing but a homogeneous cohort of adopters and in fact differ in their approaches to the certification. In this paper, we conceptualize firms’ approach to certification and link the approaches to various aspects of certification. Using an inductive approach and deriving our data from multiple case studies from forestry FSC certification, we argue that firms’ approach to certification is explained by their development of absorptive capacity, alignment of their organizational routines and their engagement in negotiations with FSC. We also argue that these approaches affect firm’s benefits from certification, their level of adherence to the requirements of the certification and their likelihood to withdraw from the certification. We discuss our findings in view of the literature on absorptive capacity, institutional literature and the literature on collective action and also discuss the implications of the study to voluntary certification literature in general.     

Generational differences: An examination of work values and generational gaps in the hospitality workforce

The purpose of this study is to identify generational differences and similarities among hospitality employees and managers in order to develop leadership strategies and management styles that can be utilized to increase employee morale and productivity while enhancing recruitment and retention rates of highly qualified workers. Data for this study were collected through a series of in-depth focus group discussions. Findings indicated significant generational differences in world views, attitudes toward authority and perspectives on work. Findings suggested the Baby Boomers respect authority and hierarchy, while the Generation X-ers (Gen X-ers) rebel against authority. Findings also suggested while Baby Boomers live to work, Gen X-ers work to live. The Baby Boomers are willing to wait their turn for promotions and rewards, and are very loyal. On the other hand, Gen X-ers expect immediate recognition through title, praise, promotion, and pay. They also want a life outside of work—they are not likely to sacrifice theirs for the company. The Millennial Generation believes in collective action, with optimism of the future, and trust in centralized authority. They like teamwork, showing a strong will to get things done with a great spirit.     

On tap: Foodservice operators’ perceptions of a wine innovation

An online survey explored foodservice operators’ (N = 57) perceptions of wine-on-tap, a recent trend in the United States. Adopters (39.1%) considered themselves more innovative, willing to take risks, and influential on others’ opinions than nonadopters (60.9%). Foodservice operators who currently offer wine-on-tap utilized interpersonal information sources (e.g., distributors) more frequently than nonadopters. Additionally, adopters perceived wine-on-tap’s characteristics more positively than nonadopters, indicating wine-on-tap was significantly easier to use than bottled wine. Among other implications, networking stood out as an important driver of innovative behavior in the foodservice industry.     

Hedge funds and financial stability: Regulating prime brokers will mitigate systemic risks

We review key characteristics of the hedge fund industry, and identify conditions under which this sector can pose a threat to financial stability. Direct regulation of hedge funds that increases transparency does not appear feasible, may create a moral-hazard problem, and may reduce market liquidity. Indirect regulation by prime brokers and market discipline by creditors, counterparties, and investors have been effective in limiting the risks from the hedge fund sector. To reduce systemic risks, more regulation of prime brokers is warranted to avoid competitive dynamics from undermining counterparty risk management practices.     

Innovations in the international financial markets

The appearance of the international financial markets is changing rapidly; new instruments are constantly being hatched and marketed, often with considerable success. However, the ingenuity of the markets does not always meet with applause; the banking supervisory authorities and central banks view the rapid pace of innovation with concern and the banking community also displays occasional unease. On balance, do the positive aspects outweigh the negative ones?