Holger Schiele, Philipp Horn and Bart Vos
Research results concerning the cost‐saving potential of international sourcing have been ambiguous and the topic has been covered in isolation without accounting for influences…
Abstract
Purpose
Research results concerning the cost‐saving potential of international sourcing have been ambiguous and the topic has been covered in isolation without accounting for influences of alternative cost‐saving approaches. This paper aims to analyze the expected financial impact of international sourcing in relation to savings potential attributed to other sourcing tactics, such as, e.g. collaborative product improvement. Furthermore, the paper tests for potential trade‐offs between different levers.
Design/methodology/approach
Data stem from results of 134 cross‐functional cost‐saving workshops using an identical methodology. Workshop participants identified and estimated cost‐saving projects considering seven sourcing levers. Results were recorded in a standardized way and analyzed scrutinizing secondary data.
Findings
Contrary to other studies, data revealed that international sourcing projects averaged 3.4 percent savings expectations. More than 80 percent of total savings potential was attributed to other sourcing levers, such as pooling of demand or process improvement. Results highlight possible trade‐offs between international sourcing and, e.g. joint product optimization.
Research limitations/implications
A rigorous and strict, highly standardized method was employed and data were validated via cross‐functional team discussions, however, ex ante expectations instead of ex post realized savings are analyzed.
Practical implications
Findings give guidance on the importance of international sourcing compared to other levers and help to correct the misconception of international sourcing as a “purchasing panacea.” The findings highlight the need to develop a coherent sourcing strategy for specific commodity groups, including reinforcing tactics and avoiding trade‐offs.
Originality/value
For the first time, explicitly cost‐savings expectations from international sourcing have been analyzed together with other cost‐saving levers concerning relative importance and possible trade‐offs among them.
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Hans Philipp Wanger and Andreas Oehler
The purpose of this paper is to investigate whether downside-risk measures help to explain why households largely refrain from investing in Exchange Traded Funds that replicate…
Abstract
Purpose
The purpose of this paper is to investigate whether downside-risk measures help to explain why households largely refrain from investing in Exchange Traded Funds that replicate broad and internationally diversified market indices, so-called XTFs, although studies frequently recommend to do so.
Design/methodology/approach
The paper analyzes whether evaluating risk in terms of downside-risk measures which reflect households' interpretation of risk closer than the standard deviation (SD) of returns, yields less risk-return-enhancements, and thus, fewer incentives for households to invest in XTFs. Household portfolios are compiled by combining stylized portfolio compositions that involve multiple asset classes and German households' security holdings. The data set covers the period from January 2014 to December 2016 and includes 47,388 securities.
Findings
The results indicate that none of the downside-risk measures can help to explain the reluctance of households to invest in XTFs. On the flip side, the results show that all stylized household portfolios can enhance the risk-return position from employing XTFs, regardless of the underlying risk measure. This supports the advice to invest in XTFs and extends it upon households that evaluate risk in terms of downside-risk.
Originality/value
To the best of the authors' knowledge, this study is the first to investigate risk-return-enhancements from XTFs while simultaneously considering various downside-risk measures and multiple asset classes of household portfolios.
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Saulo Monteiro Martinho de Matos
The central thesis developed during this study is the idea that human dignity must be understood as the right to be recognised as a participant in the institutional practice of…
Abstract
The central thesis developed during this study is the idea that human dignity must be understood as the right to be recognised as a participant in the institutional practice of human and fundamental rights. This form of association between human dignity and human rights is a response to the various barbarities of the twentieth century, whether by fascist, Nazi, and socialist regimes in Europe, either by South African apartheid or by military dictatorships in Latin America. Human dignity after Auschwitz is the foundation for the construction of a post-metaphysical institutional morality, independent of an idealised concept of rational subjective personality and closer to the historical and material conditions to guarantee the political personality of every human being. In order to defend this thesis, the study is conducted in two steps. First, two conceptions of dignity will be discussed, namely dignity of man and human dignity. Second, it is intended to discuss how the modern conception was incorporated into the practice of human rights after Auschwitz as a way of responding to a crisis in the modern model of the practice of rights.
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Emotions are complex concepts involving multiple systems within the body and mind. How, when and for what purpose emotions are expressed is based on context and relationships. In…
Abstract
Emotions are complex concepts involving multiple systems within the body and mind. How, when and for what purpose emotions are expressed is based on context and relationships. In this chapter I take a relational view of emotion and emotion regulation as applied in classroom settings. I first discuss the concepts of emotion and emotion regulation before exploring the physical, social and psychological processes involved in both producing and regulating emotions. Although teachers use, respond to and regulate emotions as part of their everyday work, I suggest that teachers are underprepared for the extent of the emotion work they encounter, or the cost it may have on their emotional reserves. The requirements to successfully navigate emotions in today's educational environment are underappreciated. Only when we acknowledge the relational and cognitive tasks required of teachers under the demand of multiple relationships and the constraints of the responsibilities placed upon them can we fully appreciate the magnitude of the endeavour.
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A SPLENDID conference, I thought. True, there were those who complained, those who thought some of the papers were elementary and those who thought that we had come a long way to…
Abstract
A SPLENDID conference, I thought. True, there were those who complained, those who thought some of the papers were elementary and those who thought that we had come a long way to learn very little. I don't agree at all. Some of the papers did, I admit, deal with basic considerations but it does nothing but good to re‐examine the framework of our services from time to time. In any case other papers were erudite, and for the first time I have seen an audience of librarians and authority members stunned, almost, into silence.
Volker G. Kuppelwieser, Philipp Klaus, Aikaterini Manthiou and Linda D. Hollebeek
The customer experience (CX), as revealed in the literature-based debate, has been variously viewed as either a driver or an outcome of customer-perceived value (CPV). However…
Abstract
Purpose
The customer experience (CX), as revealed in the literature-based debate, has been variously viewed as either a driver or an outcome of customer-perceived value (CPV). However, the association of CPV, CX and word-of-mouth (WoM) behavior remains nebulous to date, thereby generating an important research gap. In response and to bridge this gap, this study aims to explore CX’s role in the CPV–WoM behavior relationship, the role of WoM behavior arising from CX and whether CX acts as a core mediator (vs a moderator) in the association of CPV and subsequent consumer-behavior outcomes.
Design/methodology/approach
By conducting two studies spanning a broad range of services, this paper explores the relationship between CPV, CX, and WoM behavior through structural equation modeling.
Findings
The findings are that CX plays a crucial role in the CPV–WoM relationship, thereby confirming the existence of a direct link between CPV (social/hedonic/utilitarian value), CX and WoM. The results also highlight CX’s mediating role in the relationship between social and utilitarian (but not hedonic) values. Moreover, the results reveal that the EXQ scale, measuring CX, comprises distinct experiences perceived by high and low CX-based customer segments, respectively.
Practical implications
CPV (utilitarian, hedonic, social) not only affects consumers’ behavioral intentions but also, more importantly, their WoM behavior. Therefore, managers need to consider all three values. Moreover, managers should shift their focus from social value perceptions to CX. The results suggest that managers need to devote additional resources to the development of a suitable CX, which will help mitigate consumers’ online and/or offline brand-related WoM. This study indicates the context in which managers must emphasize the construct that produces positive outcomes.
Originality/value
By identifying a direct relationship between CPV, CX and the ensuing consumer-behavior outcomes, the study offers important theoretical insight into CX’s nomological network.
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Most of the past studies have managed to confirm the value‐relevance of R&D, but few of them have formally addressed the issue of knowledge spillovers. In reality, firms improve…
Abstract
Most of the past studies have managed to confirm the value‐relevance of R&D, but few of them have formally addressed the issue of knowledge spillovers. In reality, firms improve their know‐how both by producing new knowledge and by learning from others. The objective of this study is to examine the relevance of R&D and knowledge spillovers as an explanation for the observed inconsistency between market and book values. While the level of R&D is measured by R&D expenses and patent counts, the intensity of knowledge spillovers is measured by tracing the linkages between inventions across time as established by patent citations. Specifically, knowledge spillovers are decomposed into intraindustry, internal, and interindustry spillovers. The empirical findings from this study conclude that R&D and knowledge spillovers are value‐relevant. The results also suggest that, among the three components of spillovers, intraindustry spillovers have the strongest impact on market‐to‐book ratios.
Philipp Grollmann and Felix Rauner
The purpose of this paper is to show that the quality of learning in German apprenticeships can be increased without raising costs under certain conditions. It starts with a…
Abstract
Purpose
The purpose of this paper is to show that the quality of learning in German apprenticeships can be increased without raising costs under certain conditions. It starts with a contextual description of apprenticeship in the dual system, showing that this insight is of central importance, since employers in Germany are increasingly withdrawing from apprenticeship provision.
Design/methodology/approach
The paper is a case study‐methodology and shows one selected case out of 24 presented. The selected case is then related to the findings of the other cases explored.
Findings
The findings in the paper imply that quality of apprenticeships can be improved without an increase in costs, challenge the classical economics of apprenticeship. “Grounded” indicators of quality in apprenticeship are formulated: learning in productive work processes is a core characteristic of apprenticeships; the productive work apprentices engage in needs to follow a well thought through sequential logic; learning is based on a high degree of autonomy; learning is embedded into the business process; client satisfaction provides an important quality benchmark; commitment to occupation and the company can provide a source of responsibility and quality; and professional competence is the ultimate goal of learning.
Research limitations/implications
The results in the paper were further processed into a self‐evaluation tool assisting companies in their cost‐benefit calculation. The developed standardised instrument was not tested in an international context. Both instruments presented could be further validated by taking up the view of multiple stakeholders and comparing results with alternative methodologies of assessing the learning quality.
Practical implications
The paper suggests an intensified integration of apprenticeship training into productive work processes. In order to turn this into quality learning the complexity of tasks needs to be increased over the course of apprenticeship.
Originality/value
The paper proposes a new look at the costs of apprenticeships. Therefore, it is of interest to researchers and managers with an interest in apprenticeship training.
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Michaela Brockmann, Linda Clarke and Christopher Winch
This paper aims to explain the distinction between educational standards and learning outcomes and to indicate the problems that potentially arise when a learning outcomes…
Abstract
Purpose
This paper aims to explain the distinction between educational standards and learning outcomes and to indicate the problems that potentially arise when a learning outcomes approach is applied to a qualification meta‐framework like the European Qualification Framework, or indeed to national qualification frameworks.
Design/methodology/approach
The methods used are documentary, political and conceptual analysis, with some reference to empirical work carried out in relation to other projects.
Findings
It is found that there are substantial differences between learning outcomes and standards with large educational and political implications. Furthermore, the “pure” form of learning outcomes approach contains a design flaw, which makes its coherent implementation problematic.
Research limitations/implications
The stimulation of further research on learning outcomes based approaches to qualifications and the problems that arise in their implementation.
Practical implications
The EU needs to think carefully about the fitness for purpose of the current descriptors for EQF and whether or not it is desirable to move away from a pure outcome‐based approach to qualification frameworks and meta‐frameworks.
Originality/value
As far as the authors are aware, this is the first paper to draw attention to this distinction.