Robert M. Pech, Richard J. Pech, Ding Wei and Hong Shi
Through a case study of the Jiangsu Little Swan Group Company in the People's Republic of China aims to describe the transition from initial attempts at imitation of products…
Abstract
Purpose
Through a case study of the Jiangsu Little Swan Group Company in the People's Republic of China aims to describe the transition from initial attempts at imitation of products through to the realisation that innovation would need to be purchased
Design/methodology/approach
Relates the ensuing strategic alliance between the Jiangsu Little Swan Group Company and Matsushita of Japan, the acquisition of critical technology, and finally, the development of the company' own R&D culminating in over 150 technology patents by the end of the year 2002.
Findings
Finds that Little Swan has demonstrated that it is possible to successfully make an extraordinary revolutionary shift from one industry into another.
Originality/value
The case of Little Swan clearly demonstrates that innovation can be successfully integrated into a firm from external sources through direct acquisition.
Details
Keywords
Carlos J.O. Trejo-Pech, Karen L. DeLong and Robert Johansson
The United States (US) sugar program protects domestic sugar farmers from unrestricted imports of heavily-subsidized global sugar. Sugar-using firms (SUFs) criticize that program…
Abstract
Purpose
The United States (US) sugar program protects domestic sugar farmers from unrestricted imports of heavily-subsidized global sugar. Sugar-using firms (SUFs) criticize that program for causing US sugar prices to be higher than world sugar prices. This study examines the financial performance of publicly traded SUFs to determine if they are performing at an economic disadvantage in terms of accounting profitability, risk and economic profitability compared to other industries.
Design/methodology/approach
Firm-level financial accounting and market data from 2010 to 2019 were utilized to construct financial metrics for publicly traded SUFs, agribusinesses and general US firms. These financial metrics were analyzed to determine how SUFs compare to their agribusiness peer group and general US companies. The comprehensive financial analysis in this study covers: (1) accounting profit rates, (2) drivers of profitability, (3) economic profit rates, (4) trend analysis and (5) peer comparisons. Quantile regression analysis and Wilcoxon–Mann–Whitney statistics are employed for statistical comparisons.
Findings
Regarding various profitability and risk measures, SUFs outperform their agribusiness peers and the general benchmark of all US firms in terms of accounting profit rates, risk levels and economic profit rates. Furthermore, compared to other US industries using the 17 French and Fama classifications, SUFs have the highest return on investment and economic profit rate―measured by the Economic Value Added® margin―and the second-lowest opportunity cost of capital, measured by the weighted average cost of capital.
Originality/value
This study finds nothing to suggest that the US sugar program hinders the financial success of SUFs, contrary to recent claims by sugar-using firms. Notably in this analysis is the evaluation of economic profit rates and a series of robustness techniques.
Details
Keywords
The article provides and interview with Dr Richard Pech.
Abstract
Purpose
The article provides and interview with Dr Richard Pech.
Design/methodology/approach
Richard Pech answers questions about business growth, downscoping, downsizing, core competencies, and growth strategies.
Findings
Richard Pech provides views on a variety of issues connected to business growth.
Originality/value
Provides an insightful interview with Dr Richard Pech.
Details
Keywords
Carlos Omar Trejo-Pech and Susan White
This case was primarily researched using academic research papers, industry reports (Egg Industry Center and others), and finance databases including Standard and Poor’s Capital…
Abstract
Research methodology
This case was primarily researched using academic research papers, industry reports (Egg Industry Center and others), and finance databases including Standard and Poor’s Capital IQ. Regarding the cost and investment budgets, the case relies mainly on an experiment conducted by the Coalition for Sustainable Egg Supply, updated by the authors of this case.
Case overview/synopsis
Eggs produced by cage-free birds, while more expensive than conventionally produced eggs, are gaining in popularity among consumers who want only eggs that are produced more humanely. A number of major distributors, including Whole Foods, McDonalds and Starbucks have pledged to sell only cage-free produced eggs by 2025. Several states including California, Oregon and Michigan have passed laws limiting conventional egg production. The case provides costs and industry information and needed to project free cash flows and risk-adjusted opportunity cost of capital and perform break-even capital budgeting analysis of the two egg production alternatives.
Complexity academic level
This case is appropriate for graduate corporate finance courses. It is particularly appropriate for agribusiness finance courses. A preliminary exercise was used during the fall 2018 in a land grant university, just after the “Prevention of Cruelty to Farm Animals Act,” also known as Proposition 12, was passed in California in favor of cage-free egg production. The exercise was revised and used in the fall 2019 in the same class. This extended version of the case, was classroom tested in the fall 2020 in an agribusiness finance graduate class, with agricultural economics and business students enrolled.
Details
Keywords
The purpose of this study was to use the Lussier (1995) generic success versus failure (S/F) prediction model to develop a real estate industry specific model (S/F = f[industry…
Abstract
The purpose of this study was to use the Lussier (1995) generic success versus failure (S/F) prediction model to develop a real estate industry specific model (S/F = f[industry experience, age, advisors, planning, capital]). Using logistic regression analysis, the Lussier model (p = .028) and the real estate agency model (p = .001) are significant predictors of business success and failure. The Lussier model accurately predicted 84 percent of the surveyed successful and failed matched pairs agencies as being successful or failed and the real estate model predicted 74 percent. The Lussier model explained 68 percent of the variance of contributing factors to success versus failure and the real estate model explained 56 percent. Implications are discussed.
Details
Keywords
Hanan AlMazrouei, Robert Zacca, Chris Bilney and Giselle Antoine
Managing across cultures is vital for international business success. Leaders need to make decisions in a way that suits the new culture in which they are placed. This paper aims…
Abstract
Purpose
Managing across cultures is vital for international business success. Leaders need to make decisions in a way that suits the new culture in which they are placed. This paper aims to explore how expatriate managers in the UAE make decisions in respect to their contextual environment. Additionally, the study investigates the approaches expatriate managers use to adjust their decision-making and how they manage local staff in contrast to home country staff. Finally, the study investigates the factors that contribute to the situation-specific environment of the expatriate leaders’ experience.
Design/methodology/approach
Structured personal interviews of expatriates drawn from stratified sampling were used to discover the styles of decision-making that were effective in the UAE.
Findings
The consultative management style of management enhanced by a hybrid approach of melding the strongest aspects of the expatriates’ decision-making style with the strongest aspects of the local decision-making style met with much success managing in the UAE. Additionally, the expatriate managers’ expression of appreciation towards local staff provided motivation and encouraged cooperation. Moreover, it was found that expatriates can face difficulties in expressing their wishes and requirements accurately to local staff because of their unfamiliarity with the Arabic language.
Practical implications
This research provides practical guidance for expatriate managers charged with successfully leading organizations in UAE. It also offers guidance for employers seeking to recruit or employ appropriate management talent to UAE.
Originality/value
The paper concentrates on expatriate managers’ decision-making practices within the UAE.
Details
Keywords
Priyadarshini Das, Srinath Perera, Sepani Senaratne and Robert Osei-Kyei
Industry 4.0 is characterised by the exponential pace of technological innovations compelling organisations to transform or be displaced. Industry 4.0 transformation of…
Abstract
Purpose
Industry 4.0 is characterised by the exponential pace of technological innovations compelling organisations to transform or be displaced. Industry 4.0 transformation of construction enterprises lacks systematic guidance and notable earlier studies have utilised maturity models to map transformation of enterprises. This paper proposes a conceptual maturity model for construction enterprises for business scenarios leading to Industry 4.0.
Design/methodology/approach
The requirements for designing maturity models, including comparison with existing models and scientifically documenting the design process, make Systematic Literature Reviews (SLR) appropriate. Two systematic literature reviews (SLRs) are conducted to shortlist a total of 95 papers, which are subjected to subsequent content analysis.
Findings
The first SLR identifies the following process categories as critical levers of industry 4.0 maturity; data management, people and culture, leadership and strategy, collaboration and communication, automation, innovation and change management. The second SLR ascertains that the existing maturity models in construction literature do not adequately correspond to Industry 4.0 business scenarios with limited emphasis on data management, automation, change management and innovation. The findings are assimilated to propose a conceptual Smart Modern Construction Enterprise Maturity Model (SMCeMM).
Originality/value
The paper systematises the transformation of construction enterprises in Industry 4.0 and leads to state-of-the-art development of Industry 4.0 and maturity model research in construction. The proposed conceptual model addressed both the demands of the construction industry as well as what is required to navigate Industry 4.0 better.
Details
Keywords
Richard J. Pech and Alan Cameron
The purpose of this paper is to expand upon existing theories of entrepreneurial cognitions. It constructs an information‐processing framework of entrepreneurship (I‐Pe) that…
Abstract
Purpose
The purpose of this paper is to expand upon existing theories of entrepreneurial cognitions. It constructs an information‐processing framework of entrepreneurship (I‐Pe) that holistically maps out the entrepreneurial opportunity recognition process. This framework demonstrates how various entrepreneurial needs and attitudes, as well as entrepreneurial motivators, impact on the diagnosis and assessment of informational cues. It describes how opportunity‐related information is processed by entrepreneurs in order to reach a decision of acceptance or rejection of potential business opportunities.
Design/methodology/approach
The paper commences with a case study of New Zealand's winner of the Entrepreneur of the Year Award, Bill Day and his company Seaworks, a marine contracting firm. The case content is based on personal interviews by the authors as well as secondary data. The case describes how Seaworks achieved its current level of success. A number of Bill Day's uniquely entrepreneurial behaviours are then mapped into a cognitive framework describing influential elements of the entrepreneurial decision processes. This framework is derived from interdisciplinary research encompassing the study of entrepreneurship, psychology and cognitive neuroscience.
Findings
Entrepreneurs have a heightened ability and awareness for recognising and audaciously exploiting business opportunities. They persistently and continually seek opportunity‐laden information in order to satisfy internal motivators such as need for achievement and the fulfilment of competitive urges. The case study describes an entrepreneurial mind that is attracted and stimulated by elements of excitement and fun. This entrepreneur is driven by business challenges that match and stretch his skills, knowledge, and abilities. Business related informational cues are sought and processed to calculate profit potential, the level of risk, and the cost of enactment. Final calculations are filtered. Benefits and potentially positive outcomes are amplified in the calculation process, while potential complications are regarded as challenges to be overcome rather than obstacles to be avoided.
Practical implications
The I‐Pe framework derived from this research clearly demonstrates uniquely entrepreneurial decision processes. It advances our understanding of entrepreneurial cognitions and entrepreneurial decision behaviours, which has applications for the teaching of business skills as well as increasing our understanding of the phenomenon that has been termed “entrepreneurship”.
Originality/value
This paper is based on an original case study written by the authors and integrates cognitive theory within the context of entrepreneurial behaviour in order to explain why entrepreneurs are so successful at recognising and exploiting opportunities.
Details
Keywords
Robert Zinko, William A. Gentry and Mary Dana Laird
The current, established scale used to measure personal reputation treats the construct as a unidimensional measure. For example, the scale fails to distinguish between…
Abstract
Purpose
The current, established scale used to measure personal reputation treats the construct as a unidimensional measure. For example, the scale fails to distinguish between individuals who are known for being socially popular versus those who are known for being experts in their field. This study aims to address this issue by developing a multidimensional personal reputation scale.
Design/methodology/approach
Based on existing theory, a scale is developed and validated against existing, similar constructs. First, a panel of three academic experts who have done research on personal reputation, and also two professional experts who have rich experience in the management field, evaluated the items for face validity. Then 112 working adults were asked to rate the reputation of a co-worker. Each dimension of personal reputation was validated against an existing, similar scale (e.g. social reputation was validated against an existing “popularity” scale).
Findings
A multi-dimensional, personal reputation scale is presented. This measure purports that personal reputation has three dimensions: task, social and integrity.
Originality/value
The presented scale allows researchers to distinguish different types of reputations in the workplace. This is significant because both anecdotal evidence and empirical findings suggest that to simply assume that reputation based upon being a person of high integrity and upon being an expert at a specific task will present the same outcomes is a fallacy. To further the knowledge of personal reputation, a need exists to be able to measure the different dimensions of reputation.