Search results

Among university business students today there is much idealism and a strong belief in the rational model of business activity. For those who are headed for initial appointments in corporate structures there will be disillusionment. Whether entering a new organization as a first‐time employee, or entering a new position as an employee of long standing, individuals are likely to experience feelings of anxiety, helplessness, and surprise. This effect is commonly known as “entry shock.” In this paper we (1) review an experiential exercise designed for classroom use, (2) describe implications and use of the exercise in anticipatory socialization to help abate future business entry shock for students, (3) present the results of several such applications of the exercise, and (4) suggest procedures which may be used to facilitate the use of the exercise.

This paper reviews the literature concerning the degree to which a universal European business management model exists now and is expected to develop in the future in response to European Union (EU) influences. The experiences of business organizations in Austria, Germany and Poland are presented as case evidence that the EU experience will increase the homogeneity of business management practices. The authors collected case study materials as part of an interdisciplinary project concerning EU enlargement. Outcomes include: a better understanding of business management during a period of EU growth in size and influence; and case materials for college level international business courses which highlight the cases discussed in the article.

A social science classification model is described which identifies three traditional global business ethics perspectives and a fourth perspective which presents a more useful integration of elements of the others. The perspectives are identified as personal, social, cultural and integrated. The literature on business ethics is discussed and categorized according to these perspectives. The integrated perspective points to collaboration and ethical displacement as offering the most promise for the solving of international ethical dilemmas faced by business managers.

The purpose of this paper is to provide a comprehensive review of organizational crisis and organizational change management and to provide a guide to crisis prevention, management and recovery by highlighting critical actions to be taken during each stage of an organizational crisis. A second aim is to compare the crisis management of two financial firms during the 2007 financial crisis: Lehman Brothers and Paulson & Company.

The methodology involved a review of the literature and a case analysis related to organizational crisis and organizational change management. The synthesis of these two approaches is a conceptual paper. Furthermore, the article is supplemented by comparing the management of the 2007 financial crisis by both Lehman Brothers and Paulson & Company in an attempt to compare the literature findings to a global organizational crisis.

The literature suggests that organizations with early crisis detection methods and crisis management plans already in place before the onset of a crisis are significantly better prepared to manage and survive a crisis event. In addition, these better prepared organizations have the opportunity to reposition themselves and turn a crisis event into a strategic opportunity. This is evident in the authors' comparisons of both Lehman Brothers' and Paulson & Company's different management of the 2007 financial crisis.

The demand for crisis management is on the rise as the 2007 financial crisis exposed the lack of preparedness among financial institutions, challenged the assumptions crisis management plans were based on and required a regulatory transformation of financial markets. Surviving firms are recovering and learning from the crisis as their crisis management proved to be ineffective.

The scope of this paper offers readers a guide to organizational crisis management, supplemented with examples from a financial crisis that affected almost every organization in the world and from which many organizations are still recovering. Any organization, regardless of industry, can benefit from the guide presented in this research. Moreover, the framework of this paper can enable practitioners to formulate and improve their organization's crisis management plans and capabilities.

Testing boundaries in the context of encountering horror representations have long been of interest to cultural studies scholars. There have been rich cultural accounts of how audiences negotiate with what is frightening or disgusting on screen (Hill, 2005) not just in general but also in what concerns specific social groups as well (e.g. children, Buckingham, 2000). Horror, disgust and the emotion of fear have not been examined in the Greek context so far and it is our aim to attempt a first investigation of how certain groups of viewers engage with the horror genre. We draw upon the argument that fear from encountering horror is a socially based emotion through which people do not just test their own boundaries but also their boundaries within a group of peers (Hill, 2005). Given that women are stereotypically thought to be more afraid than men, we are particularly interested to see how women aged between 20 and 35 in Greece engage with fear or disgust in the mainstreamed context of the horror offered by American Horror Story. We are particularly interested in the ways they perceive horror but also deadly women or female villains. Our interest in this particular series lies not only in its popularity across the world but also because of its nature as a representative series of the horror genre and because all different narratives it offers are mostly based on female characters primarily as villains. Also, as a text available across different cultures, it could probably allow us to engage with cross-cultural research in the future. Therefore we wish to conduct an online survey with women aged 20–35 in Greece, followed by focus groups with women of the same age group in an attempt to provide both a mapping and a further investigation of the topic.

The purpose of this article is to apply what social scientists have learned from decades of research on natural and technological disasters to better understand the short-term and potential long-term human impacts of the 9/11 attacks. The short-term response to the 9/11 attacks was similar to how people and communities typically respond to natural disasters. One year after the attacks, news reports suggest that factors identified in technological disaster research as causing collective trauma, rather than recovery, are beginning to surface. We identify three patterns typically present in (but not restricted to) the aftermath of technological disasters that contribute to slow recovery and ongoing collective trauma and evaluate the likelihood that these factors will impact the recovery process for those impacted by the 9/11 attacks. We conclude that due to perceptions of governmental failure, the likelihood of protracted litigation, and uncertainty regarding the mental and physical health of victims, the social and psychological impacts of the 9/11 attacks will likely be severe and long-term. As such, the concluding section recommends the implementation of a long-term clinical intervention program for mitigating these potential chronic impacts and facilitating the timely recovery of survivors.

Directors help determine the strategic direction of a corporation and are responsible for ensuring the institution has a good system of internal control. Banking institutions without a strategic direction emphasizing sound lending practices that promote the long-run financial health and viability of the institution will be sued more frequently than peer institutions. Institutions that do not have a good system of internal control will also be sued more frequently. Hence, legal expense is a bank corporate governance measure. We compare the performance of bank legal expense and a widely cited corporate governance index in a regression framework to determine which better predicts bank performance. The regressions indicate legal expense is a much better predictor, hence a better measure of bank corporate governance. Regulators should require legal expense reporting and rank institutions by the ratio of legal expense to assets to help identify institutions with weak governance. Seven case studies illustrate the role of legal expense in corporate governance.

This paper aims to present an analysis of the role of financial incentives, moral hazard and conflicts of interests leading up to the 2008 financial crisis.

The study’s analysis has identified common structural flaws throughout the securitization food chain. These structural flaws include inappropriate incentives, the absence of punishment, moral hazard and conflicts of interest. This research sees the full impact of these structural flaws when considering their co-occurrence throughout the financial system. The authors address systemic defects in the securitization food chain and examine the inter-relationships among homeowners, mortgage originators, investment banks and investors. The authors also address the role of exogenous factors, including the SEC, AIG, the credit rating agencies, Congress, business academia and the business media.

The study argues that the lack of criminal prosecutions of key financial executives has been a key factor in creating moral hazard. Eight years after the Great Recession ended in the USA, the financial services industry continues to suffer from a crisis of trust with society.

An overwhelming majority of Americans, 89 per cent, believe that the federal government does a poor job of regulating the financial services industry (Puzzanghera, 2014). A study argues that the current corporate lobbying framework undermines societal expectations of political equality and consent (Alzola, 2013). The authors believe the Singapore model may be a useful starting point to restructure regulatory agencies so that they are more responsive to societal concerns and less responsive to special interests. Finally, the widespread perception is that the financial services sector, in particular, is ethically challenged (Ferguson, 2012); perhaps there would be some benefit from the implementation of ethical climate monitoring in firms that have been subject to deferred prosecution agreements for serious ethical violations (Arnaud, 2010).

The authors believe the paper makes a truly original contribution. They provide new insights via their analysis of the role of financial incentives, moral hazard and conflicts of interests leading up to the 2008 financial crisis.

Recently, there has been increased interest in the use of simulation for real‐time planning, scheduling, control of construction projects and obtaining optimum productivity. The purpose of this case study is to demonstrate the use of simulation as an effective tool for estimating production rates in an attempt to prepare optimal time schedules.

Gaza Beach‐Camp Shore Protection Project was taken as a case study. The case study is used to demonstrate how to estimate effectively the production rates of labour and equipment during the implementation of the project activities and to estimate the duration of the project using process simulation. The model simulates the construction of 1,600 m of gabions divided into 32 identical stations. Probabilistic distribution functions were used to fit the time functions for each process and sub‐process based on 100 replications.

The simulation output generated three probabilistic values for completing each activity upon which the overall project completion time is determined. The resources utilizations for all processes were also generated and used in the determination of the average production rates.

The computation of productivity based on effective resources utilization has been demonstrated to give better results than estimating productivity based on aggregate resources assignments.