Ralf Östermark and Kenneth Söderlund
This paper develops and applies a linear, deterministic, multiperiod firm model for strategic planning. The key property of our model is the simplicity of generating optimal firm…
Abstract
This paper develops and applies a linear, deterministic, multiperiod firm model for strategic planning. The key property of our model is the simplicity of generating optimal firm strategies. Our purpose is to maximize the discounted value of net income and dividend payouts. The key decision variables are investments, new loans, new issues, loan repayments, dividend payments, depreciations and the level of operations (i.e. turnover). The financial constraints include bounds for the decision variables, some fundamental requirements such as nonnegativity of assets and liabilities and, finally, some balance sheet and income statement relationships. Our model has been tested on some major Finnish firms and it seems to give reliable results. With the data of our sample firm for this paper, optimal dividends and optimal net income presuppose different strategies. When optimizing dividends the model balances between investing and paying out dividends, while optimizing net income results in an intensive investment program. Even if our sample firm is but one case, the results are indicative of some fundamental principles governing management decision making. The firm model was designed in PC/Windows‐environment, with access to the LINDO‐package in the optimization stage.
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Tim Brady, Andrew Davies and Paul Nightingale
The purpose of this paper is to review the content and contributions of the article by Klein and Meckling entitled “Application of operations research to development decisions”…
Abstract
Purpose
The purpose of this paper is to review the content and contributions of the article by Klein and Meckling entitled “Application of operations research to development decisions” which was published in the journal Operations Research in May‐June 1958. The paper explores the major concepts and contributions in the article and suggests that these are relevant to today's complex and uncertain development projects.
Design/methodology/approach
The paper outlines the context in which the research on which the article is based took place and presents the main ideas in the article which relate to decision making in the procurement and development of complex systems.
Findings
The paper demonstrates the utility of the concepts in the original article, shows how they have been used in academic research on project management and innovation and that they are still relevant for both practical project management and project‐based research.
Practical implications
The primary implication is to demonstrate the value of revisiting a classic contribution in project management, in this case, one which remained hidden for a long period, but has recently come to the fore again.
Originality/value
The issues raised by the original article – related to decision making under conditions of uncertainty – remain high on the agenda today and revisiting the article may help provide a better appreciation of how to deal with those issues.
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Matin Mohaghegh and Andrea Furlan
This study aims at determining the factors that favor a systematic approach to deal with complex operational and strategic problems. Management literature on problem-solving makes…
Abstract
Purpose
This study aims at determining the factors that favor a systematic approach to deal with complex operational and strategic problems. Management literature on problem-solving makes a clear distinction between either fixing a problem temporarily by eliminating its symptoms or solving it by diagnosing and altering underlying causes. Adopting a cognitive perspective of the dual-processing theory, this study labels these two approaches intuitive problem-solving and systematic problem-solving (SPS). While the superior effectiveness of SPS in fostering organizational learning is widely documented, existing literature fails to provide an overview of the conditions that support the adoption of SPS.
Design/methodology/approach
This paper presents a systematic literature review to shed light on the main supporting factors of SPS in operational as well as strategic domains.
Findings
Seven supporting factors of SPS (namely, nature of the problem, time availability, information availability, collaborative culture, transformational leadership, organizational learning infrastructure and environmental dynamism) are first identified and then discussed in an integrative model.
Originality/value
This work is an original attempt to inclusively address organizational, environmental and problem nature-related factors that favor SPS adoption. By determining the SPS supporting factors, this study highlights why many organizations fail or struggle to implement and sustain SPS over time.
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Qi Zhang, Shengyue Hao and Kon Shing Kenneth Chung
A project manager’s (PM) emotional intelligence (EI) is essential for project performance (PP). However, the cause and effect and the potential moderators of the relationship…
Abstract
Purpose
A project manager’s (PM) emotional intelligence (EI) is essential for project performance (PP). However, the cause and effect and the potential moderators of the relationship between EI and PP remain disputed. Some scholars found a positive association between PMs’ EI and project outcomes, while some other studies showed non or negative relation. This paper aims to find the relationship between PMs’ EI and PP and the factors that influence this relationship based on diverse prior research.
Design/methodology/approach
This paper conducts a meta-analysis of 5,229 observations based on 24 independent studies from 1990 to 2021.
Findings
Results show that PMs’ EI has a significant positive influence on PP, and the project complexity and measurement of PP are two critical moderators explaining inconsistencies in existing research.
Practical implications
The current study proposes suggestions for construction companies on PMs’ selection and training. This study also offers suggestions for PMs in management practice.
Originality/value
To the best of the authors’ knowledge, this study is the first to explore the inconsistencies in prior research results on the relationship between PMs’ EI and PP at the meta-analytic level. This research extends the current literature by revealing the factors leading to existing consistencies that are not explored before. This study implies that the meta-analysis method could help reach a balanced conclusion based on inconsistent results.
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Victoria Crittenden and William Crittenden
As a business executive and philanthropist, Mary Kay Ash is legendary as a glass-ceiling breaker. With the belief that Mary Kay Ash is both modern and relevant, while…
Abstract
Purpose
As a business executive and philanthropist, Mary Kay Ash is legendary as a glass-ceiling breaker. With the belief that Mary Kay Ash is both modern and relevant, while simultaneously legendary, the overall purpose of this paper is to explore the role of Mary Kay Ash as an influential entrepreneur. This research responds to the call by Cogliser and Brigham (2004) for an increased understanding of how entrepreneurial leaders influence, challenge, inspire and develop followers.
Design/methodology/approach
Following on research by Hoppe (2013), this objective was accomplished via a pentadic analysis of Mary Kay Ash’s rhetoric aimed to influence the mental mindset of readers (followers) over the course of generations. Burke’s pentad was the sense-making tool used for examining Ash’s rhetoric of influence as an entrepreneurial leader. The data used in the pentadic analysis were also analyzed via Linguistic Inquiry and Word Count (LIWC) and IBM Watson Emotion Analysis to see where analyses might converge or diverge.
Findings
Based on the analysis of her written work, Mary Kay Ash resided at the intersection of leadership and entrepreneurship and, in so doing, was an influencer. Her primary rhetorical approach to influencing was idealism. Interwoven in her writings, she also exhibited both pragmatism and realism. She knew that she had to start the business to have the future she desired and that she needed to train her team appropriately for success to be forthcoming. The motivation in Mary Kay Ash’s rhetoric was that of influencing people so they would be the best that they could be.
Research limitations/implications
Qualitative research brings with it an array of inevitable research problems. Pentadic analysis cannot be judged by the basic objective standards of reliability and validity because objective reality does not exist in personal interpretation. That is, one person as a critic cannot be impartial because the interpretation is only one personal way of viewing the data and another critic might view the same pentads and come up with different ratios. With this subjectivity in mind, however, the data used in the pentadic analysis were also analyzed via LIWC and IBM Watson Emotion Analysis to see where analyses might converge or diverge.
Practical implications
The findings from this research denote clearly that Mary Kay Ash was a forerunner of the modern day influencer. As a primogenitor of the influencer marketing phenomenon, Mary Kay Ash’s entrepreneurial legacy is expected to continue through generations of followers. This finding speaks to the importance of today’s entrepreneurs using the spoken and written word to influence others and create a lasting organizational legacy.
Originality/value
Countless scholars have used pentadic analysis, with a variety of artifacts, to examine the motives behind the rhetoric. However, rhetoric as a means of persuasion and influence has received little attention within the context of the written works by management gurus (Jones et al., 2009), and, aside from the exploration by Berglund and Wigren (2012), the narrative of entrepreneurial influence has not benefitted from close examination.
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Nurul Amirah Othman, Nik Mohd Hazrul Nik Hashim and Norzalita Abdul Aziz
Personalization is a key element of restaurant innovation. Few studies in the business literature have examined its influence on table-service consumer behavior, including the…
Abstract
Purpose
Personalization is a key element of restaurant innovation. Few studies in the business literature have examined its influence on table-service consumer behavior, including the factors that strengthen or weaken domain relations. The purpose of this paper is to investigate the effects of personalization on brand identification and repurchase intention by providing a contingent view of several crucial factors.
Design/methodology/approach
Online surveys were distributed to restaurant customers who received personalized menus, services and promotions. The authors collected data using purposive sampling and tested this study’s hypotheses using regression analysis.
Findings
The results indicate that personalization influences brand identification and loyalty behaviors. Not all aspects of employee friendliness, notably conversational skills, strengthen the links between personalization and consumer behavior. In fact, informal frontline employee attitudes negatively moderated customer brand identification. The results, however, suggest that humorous and approachable behaviors of frontline employees are essential in enhancing the effects of personalization on brand identification and revisiting intentions.
Originality/value
Drawing on self-categorization theory, this study introduces personalization as a key factor in improving brand identification and repeat purchase intentions in full-service restaurant settings. This study incorporated social exchange theory and motivational theory to construct a contingency view of frontline employee friendliness and customer motivation to better understand how customers’ dining experiences impact their post-consumption behaviors. By investigating the potential interactions between the three theoretical perspectives, this study demonstrates the relevance of personalization, cultural sensitivity and intrinsic motivation as vital components for Asian restaurants.