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Book part
Publication date: 27 June 2017

Fadi Alkaraan

Mergers and acquisitions (M&A) are arguably one of the CEOs greatest challenges, and there is a critical need to get these decisions right. It is clear that no single theory is…

Abstract

Mergers and acquisitions (M&A) are arguably one of the CEOs greatest challenges, and there is a critical need to get these decisions right. It is clear that no single theory is adequate to describe or inform how M&A are evaluated in uncertain conditions, but there are several that offer partial explanations or at least contribute toward our understanding of how managers can deal with the uncertain environment and assess the likely risks associated with M&A. The literature suggests how relevant theories might be aggregated to make sense of strategic investment decision and investment appraisal techniques in an organizational context and considers the implications for further research in this important area of M&A. This chapter focuses on strategic investment appraisal, and draws together a variety of theoretical perspectives, especially from the field of psychology, which may be unfamiliar to both scholars in and practitioners.

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Article
Publication date: 22 June 2021

Jeet Dogra and Venkata Rohan Sharma Karri

The process of understanding a tourist begins with an extensive evaluation of tourist’s perceptions about a destination. Though destination image has been widely discussed in…

373

Abstract

Purpose

The process of understanding a tourist begins with an extensive evaluation of tourist’s perceptions about a destination. Though destination image has been widely discussed in tourism literature since the 1970s, little attention has been given to organic image despite its relative significance. First, this study aims to clear the existing ambiguity in the cognitive component of destination image by organizing and structuring the extant literature.

Design/methodology/approach

This exploratory study then seeks to identify the salient organic image attributes in tourists’ consideration for travel options through the application of repertory test. Respondents’ statements on 25 competing destinations in Madhya Pradesh, India were transcribed verbatim for analysis. A measure of frequencies and commonality among 12 construct themes was then carried out.

Findings

Along with history, heritage and culture, this study found tourists to have considered organic image attributes associated with destination stereotypes as important discriminators between competing leisure tourist destinations. Moreover, the elicitation of context-specific attributes along with a note in the pattern of tourist responses highlighted the merits of repertory test when presented with different category triads.

Originality/value

This study differs from other organic image studies as it evaluates the prominence of organic image in the context of leisure tourism. Being one of the few studies to have extensively discussed the organic image component, this study contributes to the progression of organic image literature.

Details

International Journal of Culture, Tourism and Hospitality Research, vol. 15 no. 4
Type: Research Article
ISSN: 1750-6182

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Book part
Publication date: 17 June 2019

Fadi Alkaraan

It is well recognized that Mergers and Acquisitions (M&A) are important and popular ways of achieving corporate growth. Motivations include a search for monopolistic power and…

Abstract

It is well recognized that Mergers and Acquisitions (M&A) are important and popular ways of achieving corporate growth. Motivations include a search for monopolistic power and growth, desire to respond to a low level of profitability in the existing business portfolio, improvement of market position, filling out product line, protection of supply or distribution, gain of control, acquire what is available, to internationalize, or to reduce risk. However, M&A strategies are not risk-free, and arguably one of the CEOs greatest challenges. The last several decades have witnessed a surge of interest in top executives. The strategic choice ranks as one of the dominant roles and responsibilities of senior management. Executives’ experiences, values, and personalities greatly influence their interpretations of the situations they face and, in turn, affect their choices (Hambrick, 2007).

Over the past few years, sad stories of M&A failures have been reported and that can be attributed to poor synergy, bad timing, cultural issues, hubris, complexity, and ineffective strategic control mechanisms including poor due diligence process. M&A strategies require a series of choices made over time by actors at various organizational levels; therefore, it cannot be seen as an independent activity but as an integral part of the formal rational procedure as well as the cognitive process. Strategic cognition plays a very important role in the diagnosis of strategic issues and the formulation of problems (Schwenk, 1988). Pre-decision control mechanisms permeate all levels of strategic investments process to ensure that the investment decision aligns with organizational strategy (Alkaraan & Northcott, 2007). Due diligence processes are comprehensive appraisal of strategic investment opportunities undertaken by a prospective buyer, especially to establish its assets and liabilities and evaluate its commercial potential. Due diligence processes refer to verification, investigation, or audit of a potential deal or investment opportunity to confirm all facts, financial information, and to verify anything else that was brought up during an M&A deal or investment process.

This chapter explores the influence of due diligence processes on strategic investment decision-making (SIDM) processes. Further, it provides strategic insights and practical thinking that have influenced some of the world’s leading organizations. Furthermore, the chapter adopts a strategic perspective on M&A, particular attention has been paid to the influence of due diligence and other related strategic control mechanisms on SIDM processes.

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Article
Publication date: 1 January 2003

Steven Pike

A former tourism industry general manager turned academic provides reflections on aspects of his PhD experience. In particular, two issues are the focus. Firstly, the evolution…

1666

Abstract

A former tourism industry general manager turned academic provides reflections on aspects of his PhD experience. In particular, two issues are the focus. Firstly, the evolution and maturing of his own thinking during the course of the thesis, from that of a ‘booster’ to the development of a more holistic perspective relating to tourism planning. Secondly, and related to the first issue, he laments the great divide separating tourism practitioners and academics. From his experience as a practitioner he suggests the literature contains a wealth of material that has practical value. However, as an academic, he is left wondering how much of this scholarly work actually reaches the tourism industry.

Details

Tourism Review, vol. 58 no. 1
Type: Research Article
ISSN: 1660-5373

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Article
Publication date: 19 September 2019

Cheryl Allsop and Sophie Pike

The purpose of this paper is to suggest two things: first, that the scientific and technological developments and increased regulation that have shaped homicide investigations in…

450

Abstract

Purpose

The purpose of this paper is to suggest two things: first, that the scientific and technological developments and increased regulation that have shaped homicide investigations in England and Wales over the last few decades have provided today’s investigators with opportunities not available to their predecessors, and play a key role in solving unsolved homicides. Second, however, the authors suggest that such developments have created new challenges for investigators, challenges that impede current investigations, potentially creating the future unsolved cases.

Design/methodology/approach

This paper draws on two qualitative studies that comprised over eight months of ethnographic research, observations, interviews with serving and retired homicide detectives and case file analysis.

Findings

The widespread changes to homicide investigations in England and Wales have been valuable in many respects, notably, they have allowed detectives to look back in time and bring longstanding unsolved cases to a close. However, change, although well intentioned, might actually be creating future cold cases as detectives endeavour to manage the volume of information now generated during investigations, fast evolving scientific and technological techniques and an increase in bureaucracy.

Practical implications

This study is helpful for: improving investigative practice; learning from change; reducing unsolved homicides vs a rise in new cold cases; and innovative and entrepreneurial investigators.

Originality/value

Utilising qualitative research, this paper contributes to the academic literature exploring homicide investigation in England and Wales, offering insight into the challenges facing detectives and the potential impact of these upon solving past and present homicide cases.

Details

Journal of Criminological Research, Policy and Practice, vol. 5 no. 3
Type: Research Article
ISSN: 2056-3841

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Article
Publication date: 1 March 2004

G. Roos, Lisa Fernström and S. Pike

The purpose of this paper is to review the research into the relationship between human resource management (HRM) and business performance. The paper examines the change of the HR…

14480

Abstract

The purpose of this paper is to review the research into the relationship between human resource management (HRM) and business performance. The paper examines the change of the HR function into HRM taking on its current strategic role. Recent work on the links between HRM and business performance is reviewed highlighting the conclusion that while the links are not disputed by researchers using a variety of approaches, the ability to characterize definitive causal links has proved almost impossible. The techniques and resource‐based approach of intellectual capital (IC) may provide the key to quantifying the links but again, work to date has proved that it may not be possible to clearly separate HRM from other management actions to quantify the effects of HRM. A solution based on the IC approach involving rigorous measurement is suggested.

Details

Measuring Business Excellence, vol. 8 no. 1
Type: Research Article
ISSN: 1368-3047

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Article
Publication date: 8 February 2016

John Heeley

The purpose of this paper is to trace the emergence of a dominant paradigm from within which academics and practitioners alike currently describe and otherwise explain urban…

1040

Abstract

Purpose

The purpose of this paper is to trace the emergence of a dominant paradigm from within which academics and practitioners alike currently describe and otherwise explain urban destination marketing. The paradigm has been dubbed the “theory of marketing competitive advantage (CA)” by the author, and by others as the “4P’s marketing paradigm”. To effectively market themselves as tourism destinations, this paradigm requires towns and cities to differentiate themselves through the provision of more or less unique products, based on which they subsequently undertake branding, market positioning, distribution and other activities through bespoke destination marketing organisations (DMOs).

Design/methodology/approach

The paper summarises the findings of: first, a review of the academic and practitioner literature on urban destination marketing; second, an online investigation of urban destination marketing in 62 European towns and cities, consulting the corporate and consumer pages of the relevant DMO website; and third, in-depth interviews with 20 senior DMO departmental executives. Each interview was recorded digitally for subsequent transcribing, and was conducted on the basis of a semi-structured interview schedule.

Findings

Theory, as enshrined in the “4P’s marketing paradigm” rarely holds up in practice. Irrespective of whether or not a town or city possesses CA (and few do), DMO marketing gravitates almost inexorably towards a “marketing of everything”. Moreover, much the greater part of urban destination marketing is ineffective, failing to create visitors and deliver the commercial and economic returns on which it is premised. Against a backdrop of DMO marginality and ineffectiveness and a reluctance by them to market what is special and different about places, the continued existence of DMOs and the destination marketing they undertake is thrown into serious question.

Research limitations/implications

Interpretation is unavoidably subjective in parts, drawing on personal experience as well as research undertaken.

Originality/value

This paper is intended to give the reader an understanding of why success is so problematic in urban destination marketing, serving as an antidote to the prevailing idealised, normative and unproblematic picture of the DMO world as this is depicted from within the prevailing “4P’s marketing paradigm”. The research method provides a basis on which to unite theory and practice in the field of urban destination marketing in a more systematic and verifiable manner than has hitherto ever been the case.

Details

International Journal of Tourism Cities, vol. 2 no. 1
Type: Research Article
ISSN: 2056-5607

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Article
Publication date: 1 December 2005

S. Pike, L. Fernström and G. Roos

The purpose of this paper is to demonstrate how the ICS intellectual capital methodology was developed starting from the underpinning academic theory.

3214

Abstract

Purpose

The purpose of this paper is to demonstrate how the ICS intellectual capital methodology was developed starting from the underpinning academic theory.

Design/methodology/approach

The approach is founded upon a number of theoretical strands. The basic intellectual capital approach is based on a development of the resource based theory of the firm. Most intellectual capital approaches have problems with meaningful measurement. ICS addresses the valuation of intellectual capital resources by using axiology and multi‐attribute value theory to produce a valuation framework and measurement theory to ensure that the results are reliable.

Findings

The ICS intellectual capital approach generates navigators (maps) of how resources are used in companies which have proven to be very useful. It has also demonstrated the value of deeper analysis of the intellectual capital resources. The measurement part, which is often used independently (known as the Conjoint Value Hierarchy (CVH), is shown as a powerful aid to decision making as well as to more straightforward valuation.

Research limitations/implications

The limitations are that the navigator and its associated analyses are non‐rigorous while the CVH is rigorous, transparent and auditable. This mismatch can lead to problem and the challenge is to integrate them.

Originality/value

While parts have been reported previously, this paper is the first integrated review of ICS’ methodology.

Details

Journal of Intellectual Capital, vol. 6 no. 4
Type: Research Article
ISSN: 1469-1930

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Article
Publication date: 18 January 2011

Peter Massingham, Thi Nguyet Que Nguyen and Rada Massingham

The purpose of this paper is to address the subjectivity inherent in existing methods of human capital value measurement (HCVM) by proposing a 360‐degree peer review as a method…

5880

Abstract

Purpose

The purpose of this paper is to address the subjectivity inherent in existing methods of human capital value measurement (HCVM) by proposing a 360‐degree peer review as a method of validating self‐reporting in HCVM surveys.

Design/methodology/approach

The case study is based on a survey of a section of the Royal Australian Navy. The sample was 118 respondents, who were mainly engineering and technical workers, and included both civilian and uniform.

Findings

The research may be summarised in three main findings. First, it confirms previous research demonstrating that correlations between self‐ and other‐ratings tend to be low. However, while previous research has found that self‐rating tends to be higher than other‐rating, it was found to be the opposite: other‐rating was higher than self‐rating. Second, personality is discounted as an influencing variable in self‐rating of knowledge. Third, there are patterns in the size of the discrepancy by knowledge dimension (i.e. employee capability, employee sustainability) that allow generalisation about the adjustment necessary to find an accurate self‐other rating of knowledge.

Research limitations/implications

The findings are based on a single case study and are therefore an exercise in theory development rather than theory testing.

Practical implications

The 360‐degree peer review rating of knowledge has considerable application. First, use the outcomes in the way 360‐degree feedback has been traditionally used; i.e. identifying training needs assessment, job analysis, performance appraisal, or managerial and leadership development. Second, use it for performance appraisal – given the method's capacity to identify issues at a very finite level: e.g. are you building effective relationships with customers? Third, identify knowledge gaps, at a strategic level, for recruitment and development targets. Finally, in terms of financial decisions investors might be able to compare knowledge scores by organization.

Originality/value

Traditionally, researchers and practitioners have used other‐ratings as a tool for identifying training and development needs. In this paper, other‐ratings have been introduced as a method for validating self‐rating in the measurement of knowledge. The objective was to address one of the weaknesses in existing methods – subjectivity. The solution to this problem was to use three data points – self‐reporting, 360‐degree peer review, and personality ratings – to validate the measurement of individuals’ human capital. This triangulation method aims to introduce objectivity to survey methods, making it a value measurement rather than value assessment.

Details

Journal of Intellectual Capital, vol. 12 no. 1
Type: Research Article
ISSN: 1469-1930

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Book part
Publication date: 10 November 2011

Girish Prayag

Importance-performance analysis (IPA) remains one of the lesser used quantitative techniques to analyze cultural differences in image perceptions. Therefore, this chapter analyzes…

Abstract

Importance-performance analysis (IPA) remains one of the lesser used quantitative techniques to analyze cultural differences in image perceptions. Therefore, this chapter analyzes differences in international visitors' image perceptions for the island of Mauritius in its key generating markets. Using the mixed method, the study identifies image attributes in a qualitative phase initially, followed by the administration of a survey instrument to a quota sample of 1,000 visitors, resulting in 705 useable questionnaires. IPA reveals the existence of significant differences between importance and performance scores on image for the whole sample as well as significant differences by nationality sub-groups. For example, Germans on average have the lowest importance scores, whereas Indians have the highest in comparison with other nationalities. For each market, the study also identifies the influence of fluency levels in main languages spoken on importance and performance scores. Using IPA, the gaps in scores reflect degrees of product customization and re-positioning that is needed for the different markets of Mauritius. Similarities in scores across nationalities suggest the universal importance of some image attributes in destination selection. The chapter contributes to the dearth of literature on cultural differences in image perceptions for island destinations.

Details

Tourism Sensemaking: Strategies to Give Meaning to Experience
Type: Book
ISBN: 978-0-85724-853-4

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