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Article
Publication date: 1 January 2005

Norman T. Sheehan, Ganesh Vaidyanathan and Suresh Kalagnanam

Most, if not all, management control tools were formulated for firms employing an industrial value creation logic (i.e., Ford, McDonald’s, and Wal‐Mart). We argue that given the…

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Abstract

Most, if not all, management control tools were formulated for firms employing an industrial value creation logic (i.e., Ford, McDonald’s, and Wal‐Mart). We argue that given the growth, both in number and importance, of firms employing a knowledge value creation logic (i.e., Accenture, Goldman Sachs, and Clifford Chance) and firms employing a network logic (i.e., Verizon, eBay, and Expedia) that these control tools should be revisited in light of this potentially critical contingency. This paper outlines the key characteristics of knowledge intensive firms and network service firms and then examines how these contingencies impact Simons’ (1995) Levers of Control and Kaplan and Norton’s (1996) Balanced Scorecard. We find that whilst each lever/perspective is still relevant for each value creation logic, the relative importance and thus intensity of use should vary between logics.

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Qualitative Research in Accounting & Management, vol. 2 no. 1
Type: Research Article
ISSN: 1176-6093

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Article
Publication date: 25 October 2020

Norman T. Sheehan

The global pandemic provides boards and executives an opportunity to evaluate if their organizations’ risk management systems were up to the challenge. Organizational risk…

705

Abstract

Purpose

The global pandemic provides boards and executives an opportunity to evaluate if their organizations’ risk management systems were up to the challenge. Organizational risk management systems act like the body’s immune system, protecting the organization from threats. Most organizations struggled to deal with the crisis caused by global pandemic, with some failing to survive. This paper reviews the risk management steps and then examines at why some organizational risk management systems may have failed to protect their organizations from harm.

Design/methodology/approach

This topic was inspired by discussions with executives and board members of organizations dealing with the pandemic. The paper was written based on their comments and was supplemented and contrasted with a review of risk management literature.

Findings

The paper reviews what risk responses are effective in coping with the global pandemic and then discusses how a risk tool, the risk-value curve, can help boards and executive determine the optimal level of risk for their organizations going forward.

Practical implications

Boards and executives can use the risk responses and risk tools reviewed to evaluate the quality of their risk management systems in light of the global pandemic.

Originality/value

The paper is one of the first to critically examine why some organizational risk management systems failed and proposes risk management tools to help organizations deal with the next global crisis.

Details

Strategy & Leadership, vol. 48 no. 6
Type: Research Article
ISSN: 1087-8572

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Book part
Publication date: 13 December 2013

Helmut Lütkepohl

Identification of shocks of interest is a central problem in structural vector autoregressive (SVAR) modeling. Identification is often achieved by imposing restrictions on the…

Abstract

Identification of shocks of interest is a central problem in structural vector autoregressive (SVAR) modeling. Identification is often achieved by imposing restrictions on the impact or long-run effects of shocks or by considering sign restrictions for the impulse responses. In a number of articles changes in the volatility of the shocks have also been used for identification. The present study focuses on the latter device. Some possible setups for identification via heteroskedasticity are reviewed and their potential and limitations are discussed. Two detailed examples are considered to illustrate the approach.

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VAR Models in Macroeconomics – New Developments and Applications: Essays in Honor of Christopher A. Sims
Type: Book
ISBN: 978-1-78190-752-8

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Available. Content available
Article
Publication date: 20 April 2012

T. Sheehan

275

Abstract

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Development and Learning in Organizations: An International Journal, vol. 26 no. 3
Type: Research Article
ISSN: 1477-7282

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Article
Publication date: 22 February 2011

Rozhan Othman and Norman T. Sheehan

The purpose of this paper is to locate different value creation logic contingencies within the resource management framework. While Sirmon et al. discuss how external…

4692

Abstract

Purpose

The purpose of this paper is to locate different value creation logic contingencies within the resource management framework. While Sirmon et al. discuss how external environmental contingencies, such as environmental munificence, impact resource management, this paper aims to discuss a second key contingency; that is how the firm's choice of value creation logics impacts its resource management choices. This paper seeks to argue that management of the firm's resources and capabilities is contingent on the value creation logic employed by the firm.

Design/methodology/approach

This paper reviews three value creation logics: value shop, value network, and value chain and then integrates them within the resource management framework.

Findings

A review of extant literature indicates that value shop firms, value network firms, and value chain firms enact very different environments and thus require very different resources and capabilities to support their value creation approaches. It is argued that Sirmon et al.'s resource management framework should reflect these differences.

Research limitations/implications

This paper points to new directions for research in value creation logic theory and provides a basis for future empirical work.

Practical implications

This paper argues that a mismatch between a firm's value creation logic and its resource management practices will have an adverse impact on the firm's performance.

Originality/value

This study is one of the first to integrate Stabell and Fjeldstad's value creation logic theory with Sirmon et al.'s resource management framework.

Details

Journal of Strategy and Management, vol. 4 no. 1
Type: Research Article
ISSN: 1755-425X

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Book part
Publication date: 30 September 2019

Cathy Sheehan

Abstract

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Contemporary HRM Issues in the 21st Century
Type: Book
ISBN: 978-1-78973-457-7

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Book part
Publication date: 26 July 2014

Abstract

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Tourism as an Instrument for Development: A Theoretical and Practical Study
Type: Book
ISBN: 978-0-85724-680-6

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Article
Publication date: 7 September 2010

Norman T. Sheehan

This article integrates strategy mapping, risk management and management control into a risk‐based approach to strategy execution. It uses strategy mapping as a tool to visually

6016

Abstract

Purpose

This article integrates strategy mapping, risk management and management control into a risk‐based approach to strategy execution. It uses strategy mapping as a tool to visually depict the firm's strategy and then assess its risks. Based on this risk assessment, the firm's management control system is designed to manage those risks which are seen to have the greatest probability to negatively impact firm profitability. The proposed framework can be used on a stand‐alone basis or be used to complement Kaplan and Norton's work on strategy mapping.

Design/methodology/approach

This article draws from the confluence of the risk management, management control, and strategy mapping literatures to illustrate how firms can improve their handling of risk.

Findings

Strategy mapping is an effective tool to identify risks, while Simons' Levers of Control provides an effective alternative to manage the risks identified.

Practical implications

A firm's future profitability depends on its ability to identify and manage risk. Given that firms only profit when they successfully manage risk, the design and application of its management control system must flow from an assessment of the risks assumed in its strategy. The primary advantage of an integrated risk‐based management control system is that it allows managers, in real time, to steer the firm towards the good things that were outlined in its strategy and away from any bad things.

Originality/value

The article extends Kaplan and Norton's work by proposing strategy mapping as a tool to identify and then to help manage risks.

Details

Journal of Business Strategy, vol. 31 no. 5
Type: Research Article
ISSN: 0275-6668

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Book part
Publication date: 26 July 2014

Eduardo Fayos-Solà and Maria D. Alvarez

This chapter proposes a methodology to determine tourism policies that are effective in addressing the challenges of tourism as an instrument for development. A three-step process…

Abstract

This chapter proposes a methodology to determine tourism policies that are effective in addressing the challenges of tourism as an instrument for development. A three-step process is proposed, including the preparation of a Green Paper that defines the different actors in the tourism system, as well as their functions vis-à-vis policy options; a White Paper that determines strategic positioning and a roadmap for action based on the diagnosis and analysis of the destination; and a Tourism Policy Plan that delineates the different governance actions. The model is examined from the perspective of the use of tourism as an instrument for development, with a consideration of the destination’s human, social capital, and participative governance systems.

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Tourism as an Instrument for Development: A Theoretical and Practical Study
Type: Book
ISBN: 978-0-85724-680-6

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Book part
Publication date: 12 January 2021

Roger Friedland

In this paper, I compare Theodore Schatzki’s practice theory, the existential phenomenology of Martin Heidegger upon whom Schatzki drew in its formation, and my own theory of…

Abstract

In this paper, I compare Theodore Schatzki’s practice theory, the existential phenomenology of Martin Heidegger upon whom Schatzki drew in its formation, and my own theory of institutional logics which I have sought to develop as a religious sociology of institution. I examine how Schatzki and I both differently locate our thinking at the level of practice. In this essay I also explore the possibility of appropriating Heidegger’s religious ontology of worldhood, which Schatzki rejects, in that project. My institutional logical position is an atheological religious one, poly-onto-teleological. Institutional logics are grounded in ultimate goods which are praiseworthy “objects” of striving and practice, signifieds to which elements of an institutional logic have a non-arbitrary relation, sources of and references for practical norms about how one should have, make, do or be that good, and a basis of knowing the world of practice as ordered around such goods. Institutional logics are constellations co-constituted by substances, not fields animated by values, interests or powers.

Because we are speaking against “values,” people are horrified at a philosophy that ostensibly dares to despise humanity’s best qualities. For what is more “logical” than that a thinking that denies values must necessarily pronounce everything valueless? Martin Heidegger, “Letter on Humanism” (2008a, p. 249).

Details

On Practice and Institution: Theorizing the Interface
Type: Book
ISBN: 978-1-80043-413-4

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