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Examines the effects of a monetary expansion on certain key macroeconomic variables, in particular the nominal exchange rate, competitiveness, and domestic output and employment, using a modified version of the Dornbusch (Journal of Political Economy, 1976) model. Dornbusch′s original analysis of the implications of sticky prices was conducted on the basis of two alternative assumptions concerning the supply side of the economy, a fixed (full‐employment) level of output and (in his Appendix) continuous goods market clearing, maintained by instantaneous output adjustment. Neither of these assumptions appears particularly satisfactory and the model presented here attempts to address the issue by assuming output to be instantaneously fixed, but to respond gradually to excess demand or supply in the goods market. The structure of the resulting model is such as to imply a third‐order dynamic adjustment process which is solved explicitly. Two principal conclusions follow from the analysis. First, despite the fact that the monetary expansion inevitably reduces the domestic interest rate, nominal exchange rate overshooting need not result. Second, the dynamics of adjustment are considerably more complicated than in the original Dornbusch model and may, in fact, be cyclical in nature.

This article seeks to establish the extent to which a major bank’s (Finbank) reward strategy for managers demonstrates the plausibility of Lawler’s model of reward strategy. This model argues that business strategy implies individual and organisational behaviours which dictate the content of reward strategy. In addition, three critical elements of the reward system need to be aligned for the system to be effective: the organisation’s core values; the implementation process; and the structure. The data collected demonstrate that Lawler’s model presents three major complications. It over‐simplifies the process of strategy formulation and content; it gives equal importance to values, structure and process although the data showed that the last was of the greatest significance; and it is represented as unitarist and deterministic.

We review our work as collaborators over nearly 40 years as researchers and OD practitioners on the human, cultural, and organizational aspects of mergers and acquisitions (M&A). This chapter addresses (1) how our thinking, research methods, and practices developed over time, (2) accounts of deriving theory from practice and contrariwise of applying theory to practical matters, (3) how our respective shifts from academe toward scholarly-practice influenced our thinking and how we write, and (4) varieties of scholarly collaboration – ranging from intensive interchange to sequential pitch and catch. Early work covers a study of a “white-knight” acquisition and then advising on post-merger integration in a hostile takeover, revealing the stages of a deal, dynamics of buyers and sellers, and human factors that produce the “merger syndrome.”

Throughout we talk about confronting challenges of the scholar-practitioner divide as it pertains to role definition and boundary management as well to our theorizing, writing, and publication agenda. The chapter concludes with reflections on doing applied research in collaboration with a colleague (and friend).

The recent impasse over federal forest management in the Pacific Northwest region of the United States has been a living laboratory of conflict and its management, and provides the context for this case study. While most of the media attention has been focused on regional or national events such as President Clinton's Forest Conference of April 1993, a larger number of localized conflicts have shaped the controversy at the grassroots level. This case study focuses on a pivotal meeting in one such conflict: the Shasta Costa planning process. Outside intervenors mediated the meeting, and USDA Forest Service personnel, timber industry representatives, and environmentalists participated Participant observation and a supplemental survey led to the following conclusions: (1) measures of standing (the legal and social basis for legitimate participation) differed between the industry and environmental representatives, (2) reliance on science differed between groups, and (3) the process was not able to overcome a power imbalance. These findings suggest that there may be little hope for local dispute efforts if there is substantial policy uncertainty at the national level. Implications for managing forestry conflict in the region are discussed.

In this socio‐economic climate there may still be budget for talent development, but it might not be as much as we have grown accustomed to. There is a growing need for effective, sustainable and prudent programs: the question is “how?” This paper aims to address this issue.

Through the author's work with clients in industry, services and government, five key talent development principles are distilled, tested and evaluated.

There are various, sometimes conflicting, ways to determine who is of value within an organisation. HR departments are unlikely to address talent management as an integrated process. The form and purpose of talent development efforts are frequently mismatched. Preferred learning styles and the design of talent programs are often at odds. Talents have the potential to be much more engaged in and meaningful to their organisation.

Clarify what “talent” means in your organisation by formulating a crystal clear policy. Perceive talent management as an integrated process and start organising it as a coherent effort, involving all human resource departments. Fulfil a clear and present organisational need with your talent development efforts. Offer mentoring by true role models and thus enhance the talent's organisational “know‐how” and business insight and accelerate their development. Harness the power of the talent pool, because talents working in teams could offer your company a huge and largely untapped cognitive surplus.

The five key principles of talent development and the 25 decisions will aid human resource professionals in assessing or designing their own talent, leadership and career development trajectories.

Analyses the introduction and first three years of the operation of a new reward system in a financial services organisation. The purpose of the study was to develop an explanatory theory associated with reward system change effectiveness. Following a description of the organisation and its operational context, analyses the new reward system, together with an examination of the specific objectives the organisation's managers hoped it would achieve. Provides an explanation of the methods employed to collect and analyse the data. The main part of the paper comprises an analysis of these data, which provides evidence that the system was not meeting its objectives. Subsequently uses the literature on reward theory and organisational behaviour to help explain the reasons for such apparent ineffectiveness. Concludes by suggesting a tentative theory of reward system change effectiveness.

This chapter introduces the volume’s theme by considering how the forces of globalization and complexity are leading organizations to reshape and redesign themselves, how meeting the challenges of sustainable effectiveness and shared value require multiorganization networks and partnerships, and how networks and partnerships develop, function, and can produce both private benefits and public goods.

We apply findings from social and political evolution frameworks, partnership and collaboration research, and design for sustainability concepts to induce the likely conditions required for sustainable effectiveness from a network perspective.

Successful partnerships and collaborations in service of sustainable effectiveness will require individual organizations to change their objective function and build new and varied internal and external capabilities.

The chapter sets the stage for the volume’s contributions.

This chapter traces the author's journey of change research from positivism to pragmatism and how different types of “engaged scholarship” shape how we know and do change. It takes readers through the ontology, epistemology, and methodology of different types of research and how these were expressed in studies of planned change interventions, mergers and acquisitions (M&A), cynicism and its consequences, “soul work” and community building in business, organizational transformation, and the development of more socially and environmentally conscious people, purposes, and practices. The paper reflects on the author's research as it relates to regulatory versus radical change and whose interests are and might be served by change research.

The increasing interest in economic, social, and ecological sustainability has important implications for the traditional views on organization effectiveness, organization design, and organization development. Managers need to design organizations to achieve a “triple bottom line.” A review of the organization effectiveness literature suggests that no single model seems to provide the necessary guidance, and there is a clear need for creation, revision, and integration. Organization effectiveness criteria in the future require a clearer modeling of the multistakeholder demands so that organization designers can specify appropriate strategies, structures, systems, and processes as well as the changes necessary to develop them. We propose an integration called “responsible progress” and suggest that it represents an important new stream of organization development theory. The relationships between this new criterion of organization effectiveness and the design features necessary to pursue them must be tested.