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This study develops a novel method for mitigating credit risk through the use of structured derivatives, focusing in particular on the use of European put options as a strategic hedging tool. Inspired by the work of Merton (1974), our approach introduces the concept of default triggered by the stock price S_T breaching a predefined barrier B. By establishing a distributional equivalence between an existing default model and P(ST<B) for a given time T, we demonstrate the potential for reducing the necessary capital allocation for a projected loss X(T) by partially hedging with a European put option. We formulate and solve an optimization problem w.r.t. a specific risk measure to determine the optimal strike price for the option, and our numerical analysis confirms a reduction in the Solvency Capital Requirement (SCR) in markets with and without jumps. Our findings provide (insurance) companies with a pragmatic approach to mitigating losses while maintaining their current risk management framework.

Social media platforms have matured into significant arenas for moral conflict and often intense confrontation between brands and their consumers. This research aims to scrutinize the strategic development of a fresh brand entity deliberately detached from its morally compromised corporate parent, intended to reshape public perceptions and elude regulatory scrutiny.

Promoted as a center for transformative dialogue and innovation, Mission Winnow by Philip Morris is a novel example of a brand creating an entirely separate brand entity to provide sponsorship, and to associate itself with new brand values. This study employs a multisited netnography through which the posts and conversations on Mission Winnow’s platform and website hub are captured and interpreted, as well as the branded content and the free flows of consumers’ conversations generated around the brand on social media.

Findings reveal a broad interchange of moral controversy, acceptance and opposition discourses on social media. When consumers’ acceptance narratives gain traction, consumers extend their support toward the new brand entity, employing strategies that echo moral rationalization and decoupling. When resistance narratives dominate, consumers consciously draw connections between the decoupled brand and the parent brand’s immoral behavior.

This study expands upon prior research into brand activism and consumers’ moral reasoning toward controversial brands, linking the notion of brand decoupling to brand activism discourse and introducing key underexplored aspects like the power of imagery, linguistic creativity and nostalgia. Moreover, it presents significant implications for a more nuanced understanding of the important interrelationship of brand decoupling and recoupling on social media.

This research aims to investigate post-forest fire perceptions of businesses towards the environment as a stakeholder. Through interviews with affected businesses, the authors aim to understand whether disasters prompt sustainability prioritisation beyond legal or market demands, shedding light on potential shifts in environmental attitudes and decision-making processes.

The authors used qualitative methods to investigate post-disaster shifts in environmental perceptions. Using site visits, preparatory meetings and semi-structured interviews between October 2017 and April 2021, the authors gained insights into destruction, recovery efforts and stakeholder perspectives. Content analysis provided valuable decision-making insights, particularly in understanding the landscape dominated by SMEs reliant on short-term strategies.

Interviews revealed varied perspectives on stakeholder recognition, especially concerning the natural environment. Although some managers promptly acknowledged stakeholder groups, the recognition of the natural environment as one varied. Concerning the natural environment as a stakeholder, responses ranged from ecological acknowledgment to denying its stakeholder status. Despite differing views, many agreed on the forest's importance, especially for resource-reliant industries. The findings suggest that although many decision makers verbally acknowledge the natural environment as a stakeholder, their actions reveal the opposite.

The limitations are the COVID-19 pandemic in the data research phase. The methodology applied (qualitative) can be a limitation in itself and the authors recommend further research, applying mixed or quantitative methods. The research covers one event in one country. It is relevant to test our questions and conclusions in other countries/after other natural disasters. Incorporating other stakeholders' views and exploring alternative theories could enhance understanding and challenge existing results.

This study holds practical implications for understanding the relationship between organisations and the natural environment, particularly in recognising it as a stakeholder. By acknowledging the environment as a stakeholder, organisations can mitigate the effects of future natural disasters, as well as reducing their environmental footprints. Implementing these insights can lead to more informed decision-making processes and contribute to more effective resources and stakeholder management.

Recognizing the environment as a stakeholder fosters environmental consciousness and community engagement. Addressing the natural environment as such enhances the ownership and responsibility of the surrounding natural environment.

The study's originality lies in its exploration of organisational responses to natural disasters, particularly in recognizing the environment as a stakeholder. It offers unique insights into decision-making processes and attitudes towards environmental responsibility, contributing to advancing understanding and informing strategies for sustainable disaster management on a global scale.

User involvement and co-production are imperative to the design, delivery and evaluation of service provision. This chapter provides a brief introduction to these concepts as they relate to mental health, addiction and dual diagnosis. This occurs through an exploration of models of user involvement, particularly, Arnstein’s ladder of participation and MHERs engagement continuum. This is followed by exploring the benefits of user involvement at both a micro and macro level. Co-production – as the highest form of participation is also introduced followed by how these concepts are noted within policy. These concepts are imperative to the creation of a recovery-orientated service that meets the needs of the whole person and their supporters.

Organizations are confronted with problems and political risks to which they have to respond, presenting a need to develop tools and frames of understanding requisite to do so. In this article, we argue for the necessity of cultivating “political judgment” with a “sense of reality,” especially in the upper echelons of organizations. This article has two objectives: First to highlight how a number of recent interlinked developments within organizational analysis and practice have contributed to weakening judgment and its accompanying “sense of reality.” Second, to (re)introduce some canonical works that, although less in vogue recently, provide both a source of wisdom and frames of understanding that are key to tackling today’s problems. We begin by mapping the context in which the need for the cultivation of political judgment within organizations has arisen: (i) increasing proliferation of political risks and “wicked problems” to which it is expected that organizations adapt and respond; (ii) a wider historical and contemporary context in which the exercise of judgment has been undermined – a result of a combination of economics-inspired styles of theorizing and an associated obsession with metrics. We also explore the nature of “political judgment” and its accompanying “sense of reality” through the work of authors such as Philip Selznick, Max Weber, Chester Barnard, and Isaiah Berlin. We suggest that these authors have a weighty “sense of reality”; are antithetical to “high,” “abstract,” or “axiomatic” theorizing; and have a profound sense of the burden from exercising political judgment in difficult organizational circumstances.

This case study was developed using publicly available published sources like the company’s website, articles, blogs, videos, filings, etc. Multiple sources were used to put together the chronology, quotes and details. This case is not disguised. All the key figures in the case study are identified by their real names.

Black Girls Code (BGC) was founded by Kimberly Bryant (Bryant, she) as a nonprofit organization in 2011. BGC conducted workshops and programs to teach young girls of color technology, science, engineering and math and train them in Web design, developing apps and robotics. It aimed to address the lack of diversity in science and technology. The organization has received support from tech giants like Google, Facebook and IBM. In one decade, the organization trained more than 30,000 girls and aimed to teach one million girls by 2040.

In 2021, the BGC board ousted Bryant, citing allegations of workplace impropriety. She was put on paid administrative leave by the board. This ousting was done in the aftermath of complaints by several employees who raised concerns about Bryant’s conduct. The former and current employees said that high turnover in the organization was due to Bryant’s leadership, which was rooted in fear, and that she would publicly insult managers. The board formed a special committee to evaluate the concerns and sent Bryant on administrative leave.

Cristina Jones, who succeeded Bryant as CEO, brought about several changes in the organization and expanded the scope of science, technology, engineering and math to include arts. She expanded the courses to include design, gaming and others. She was looking forward to launching one million black girls in tech by 2040. But before she could go on, she needed to ensure that the ouster of the founder did not hinder the activities at BGC in any manner and also needed to address the concerns of employees, students and funders.

This case can be used to learn about nonprofits, the role of nonprofits in building an equitable society and nonprofit entrepreneurs. The objective is to understand how passionate entrepreneurs can create organizations that can make a high impact with limited resources but with ambition and vision for radical change.

This case also helps in learning the challenges encountered due to the rapid growth of startups and the role of the leader in handling such growth.

This case can be integrated into any of the existing courses or taken as a special case study to illustrate the gender and racial disparities that exist even in highly developed countries like the USA.

The purpose of this paper is to report findings from a service evaluation of a training initiative in participatory practice with children and young people (CYP) for early help (EH) professionals. The training was based on the Lundy model of child participation.

A questionnaire-based survey was undertaken of staff completing the training. Within the sample of professionals surveyed, various work contexts were represented.

Reported benefits arising from the training included increased understanding of the utility of the tenets of the Lundy model, as well as changes in practice with CYP. Barriers and issues encountered in seeking to work in a participatory way were identified in relation to time for relationship-building, resources and interprofessional and interagency working.

The evaluation findings provide insight into ways training in participatory practice with CYP is experienced by EH professionals. The role of networks of practitioner champions in influencing participatory practice is also addressed, as well as the interface between participatory and relationship-based practice.

The purpose of this study is the development of a methodology that draws on activity theory (AT) to assess educators’ and leaders’ professional learning in a pre-school setting.

The paper reports on a case study of professional development in an active learning classroom (ALC) where 20 professionals participated in a one-day writing workshop. AT was used to analyse the writing workshop as well as data from reflective writing, video recordings, interviews and surveys.

The paper shows that professional development is significantly influenced by a range of mediating technologies used in educational spaces such as the ALC. The mediated practice breaks normal work practice in the pre-school activity system and division of labour roles, and hierarchical positions and professional relationships. Such a break is considered to facilitate a manifestation of professional learning. However, it also poses a risk for organisational disruptions emphasising the need for diagnostic understanding when an ALC should be used for capturing workplace learning.

Structured writing workshops – taking place in ALCs – provide a suitable forum that breaks with routines, accelerates collective reflections and articulation of negotiated meaning and produces a common ground across hierarchical roles supporting collective professional development in the activity system.

Unlike previous research focusing on student perspectives, this study views these spaces as settings for professionals to recognise and solve developmental problems. It suggests that structured writing workshops in ALCs can accelerate collective reflection and support collective professional development across hierarchical roles.

This study uses social exchange theory to describe, explain and propose the influence of dyad partners' leadership position structure, which includes the roles they play and their existing and prospective common experience, on their commitment to their dyad and their cooperation.

The study uses the case of equally empowered co-CEOs in a family business, who play the roles of family member, owner and executive; co-CEOs in a startup firm, who play the roles of owner and executive; and co-CEOs in a merger and acquisition (M&A), who play the role of executive. Co-CEOs in family businesses benefit from longer existing and longer prospective dyad longevity than co-CEOs in startups, who, in turn, benefit from longer existing and longer prospective dyad longevity than co-CEOs in M&As.

The study proposes that the roles the partners play in the dyads, and the existing and prospective longevity of their relationship, positively influence the partners' commitment to the dyad and their level of cooperation.

The study offers a model that has the potential to direct scholars at the formulation of the theory of top management symmetric formal power dyads dynamics and assist family business owners, startup partners, board of directors and co-CEOs in formulating and implementing upper echelons leadership plans to enhance cooperation and coordination between equal partners.