Lend me your wallets: the effect of charismatic leadership on external support for an organization

We argue that charismatic leadership can influence external support for the organization, particularly in making the company more attractive to outside investors. Two studies were conducted to test this general hypothesis. First, an archival study demonstrated that the stock of companies headed by charismatic leaders appreciated more than the stock of comparable companies, even after differences in corporate performance were controlled. It was also found that the effect of charismatic leadership was heightened under more difficult economic conditions. Second, an experiment was conducted in which the salience of charismatic leadership was manipulated, along with information about the prospects for an organization's turnaround. Results showed that appeals from a charismatic leader led to increased investment in the firm, and the leader's influence was greater when the prospects for an organizational turnaround were more difficult. It was also found that an endowment of stock enhanced the influence of charismatic appeals and that charismatic leadership may have affected the general risk propensities of followers. These findings were interpreted in terms of an external perspective on leadership, illustrating how leaders can manage the firm's economic and social environment. Copyright © 2004 John Wiley & Sons, Ltd.     

精益化物流管理对药品供应仓储能力及药品周转时间的影响

目的探讨精益化物流管理对药品供应仓储能力及药品周转时间的影响。方法回顾性分析2013年8月至2014年7月中山大学附属第三医院粤东医院传统物流管理模式下的药品管理情况,以及2014年8月至2015年7月施行精益化物流管理模式后的药品管理情况。比较分析两种模式下的药品缺货率、仓储能力及药品周转时间情况。结果精益化物流管理下的A、B、C类药品所占实际面积与传统物流管理比较下降19.25%,总量增加9.86%;精益化物流管理下的A、B、C类药品周转率高于传统物流管理,差异有统计学意义(P<0.05);精益化物流管理下的A、B、C类药品周转时间短于传统物流管理,差异有统计学意义(P<0.05)。结论精益化物流管理模式可显著提升医院药品供应仓储能力,缩短药品周转时间,从而可提升药品管理整体水平,为医院带来效益,为患者提供高质量药品服务。     

Why We Should Change Our Attitude Towards Distressed Firms

This article surveys ‘creditor‐friendly’ and ‘enterprise‐friendly’ bankruptcy regimes with a focus on the methodology underlying the filter test in distress, as reflected both in its academic treatment and in legal practice. I find that the test exhibits pro‐liquidation bias in designating liquidation of a firm with recovery potential as the Type II error, and in underplaying the benefits of a possible turnaround. Further influences militating against continuation include the power conferred on creditors through the balance sheet criterion and the undervaluation of intangible assets. I make the case for reversing such biases to establish a presumption in favour of continuation.     

Turnaround strategy: A study of restaurant firms

This paper uses a case study approach to analyze the turnaround actions of two restaurant firms and compares them to the model of Robbins and Pearce [1992. Strategic Management Journal 9, 287–309]. The objective of this study is to scrutinize why these firms were unsuccessful in turning around and identify gaps between the firms’ actions and the empirical model of turnaround proposed by Robbins and Pearce. Two key turnaround measures, i.e., retrenchment and recovery are explored in detail and discussed in the context of the firms. The need for studying turnaround strategies is warranted as the number of hospitality firms that perish because of unsuccessful turnaround strategies is on the increase. Since turnaround strategies have not been pursued vigorously as a stream of research within the hospitality industry context, this approach would provide a framework for hospitality researchers to initiate similar future research efforts, which in turn would help the industry cope with turnaround.     

衰退企业业绩反转理论模型：演化过程及一个扩展

自上世纪七十年代以来,学界对企业业绩衰退后的反转提出了若干理论模型,通过对这些反转理论模型进行梳理,明确几个主要模型如Robbins和Pearce的模型、Arogyaswamy等的模型、Lohrke等的模型、Trahms等模型之间的联系和区别,揭示它们的演化过程,从而提出一个再扩展的模型,以期为企业反转工作提供一个基本的思考逻辑和行动的方向性指导.     

业绩衰退企业实现反转研究综述

多年来,学术界对于企业衰退之后的反转问题进行了大量研究,也形成了丰富的研究成果。本文围绕反转的界定、反转的背景、反转的过程、反转的战略这四个方面,对有关反转研究及其成果进行了梳理,并对该领域的未来研究进行了展望。     

Critical Success Factors for Crisis Recovery Management: A Case Study of Phuket Hotels

Tourism is a major export industry for Thailand. Phuket, one of the most popular tourist destinations in the country, has been negatively influenced in recent years by a number of crises, including the Global Financial Crisis (GFC). This has limited the travel budget not only for domestic tourists but also those from overseas. Hotel businesses have been particularly affected by the GFC. While hotel managers may not be able anticipate a crisis, it is crucial for them to understand the critical success factors contributing to effective crisis recovery in order to ensure their long-term survival.This research identifies critical success factors necessary for effective economic crisis management through qualitative analysis of in-depth interviews with managers of Phuket hotels. The findings of these interviews provide a rich and meaningful understanding of pertinent factors emphasized by managers as important in crisis recovery.     

Airline ground operations: Optimal schedule recovery with uncertain arrival times

Airline operations are subject to a number of stochastic influences which result into variable ground and block times for same flights on different days. Our research explores how airline operations control centers may benefit from an integrated decision support system for schedule recovery during aircraft ground operations. In this paper, we study the sensitivity of an optimal set of schedule recovery options towards uncertain arrival times. The calculation of recovery options is based upon an integrated and iterative scheduling and optimization algorithm, which incorporates uncertainties for arrival flights as a function of a given look-ahead time. Potential recovery options include stand re-allocation, quick-turnaround, quick passenger transfer, waiting for transfer passengers, cancellation of passenger or crew connections, and arrival prioritization. Within a case study setting at Frankfurt Airport, 20 aircraft turnarounds are analysed during a morning peak with their respective estimated arrival times (including potential arrival delays). The analysis of simulation results reveals an almost identical set of selected recovery options under high uncertainty circumstances and from post-operational point-of-view, which indicates high solution stability.     

The Life Cycle Model as a Framework for Understanding Barriers to SME Growth in Hong Kong

There is limited research on turnaround in the Asian context, particularly from a contextual perspective. This article reports the findings of an exploratory study of turnaround strategies and management at the level of the firm in Malaysia using a case study approach. The contextual impact along dimensions such as different ethnic/cultural background, ownership types and role of government has been examined in seven case studies of Malaysian firms. The findings reveal some differences among the firms, as well as turnaround characteristics similar to those reported in recent literature on East Asian versus western turnaround. These findings are discussed and propositions for future research made.     

Software firm turnarounds in the 1990s: An analysis of reversing decline in a growing,dynamic industry

Investigations into management actions that reverse organizational decline have produced inconsistent findings. Prior studies have focused on the value of retrenchment actions versus strategic actions to engineer a performance turnaround. These studies, however, have generally not controlled for the cause of firm decline, overlooking a major theoretical contingency. Examining prepackaged software firms in the 1990s, we test the association of strategic and retrenchment actions in facilitating turnarounds in a munificent industry. The results show that measures of strategic actions—new product introductions, strategic alliances, and acquisitions—were positively associated with turnarounds. Conversely, measures of retrenchment actions—layoffs, asset reductions, and product withdrawals—were negatively associated with performance recovery. Our results suggest declining firms in munificent industries cannot retrench their way back to prosperity. Copyright © 2013 John Wiley & Sons, Ltd.