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Describes the role of an executive education programme in fostering change in traditionally passive business functions. The objective is to move the function from its traditional stance to that of a strategically‐oriented contributor to the competitive advantage of the firm. To be successful, the programme content and process must be grounded in detailed knowledge of the function, provide an understanding of the role of the function in the overall organization, foster acceptance of the need for change, and aid in the development of strategies to achieve the required new role. The authors use purchasing as the case study to illustrate the framework.

Executive education can be a powerful catalyst for both personal and organisational development. How corporations are utilising this potential was the subject of an international study of executive education trends among the Fortune 300, Fortune Service 100, and Fortune International 100 firms. The results of the study reflect expanding corporate support for executive education, both on an in‐company basis and through university‐based programmes. The results also suggest some interesting comparisons among the executive education practices of the three survey population subgroupings.

Suggests that the need to cope with rapid change and global competition has revolutionized the practice of management within most major corporations. Reports on a ten‐year study of global trends in the field, which shows how practices in executive development have evolved to keep pace with this revolutionary change. The results of the study suggest a changing and increasingly important role for executive development in building and revitalizing corporate competitiveness.

The nature of the relationship where university business schools have actively sought partnerships with companies by initiating “contract” programmes customised to meet the specific learning needs of the client company is discussed. Two case examples of actual programmes are described: an open but selective enrolment general management programme and the Consolidated Rail Corporation′s two‐week management programme for employees of that company, both offered at Pennsylvania State University. The unique benefits of each programme are noted and it is argued that these should help to foster greater collaboration between universities and corporations in the future.

The purpose of this paper is to understand better the formation of an industry and the movement toward agglomeration by examining the development of the furniture manufacturing industry of Western North Carolina and Virginia.

In this general review, the initiation and growth of the furniture industry is traced, applying the theory of agglomeration and noting isomorphic tendencies and the primacy of the search for legitimacy among constituents.

The paper finds first of all, the pioneering efforts of Thomas Wrenn in High Point brought the industry to the region. An initial wave of furniture manufacturers followed closely behind Wrenn as the industry gained legitimacy and status in North Carolina. Important elements in building the industry included the establishment of the Southern Furniture Manufacturers Association and the Southern Furniture Market in High Point. A second wave of furniture producers arrived on the scene after the First World War. This group benefited from cooperative actions of the survivors of the first wave and brought the Western North Carolina and Virginia area to the forefront of the furniture manufacturing industry in the USA. Finally, the paper comments on the current state of the industry in relation to the threat of foreign competition.

The furniture industry is not alone in the need to understand the impact of globalization. Practitioners and researchers alike should be aware of the costs to stakeholder groups, such as employees and local communities.

This paper uses two complementary approaches to estimate the effect of right-to-work (RTW) laws on wages and unionization rates. The first approach uses an event study design to analyze the impact of the adoption of RTW laws in five US states since 2011. The second approach relies on a differential exposure design that exploits the differential impact of RTW laws on industries with high unionization rates relative to industries with low unionization rates. Both approaches indicate that RTW laws lower wages and unionization rates. Under the assumption that RTW laws only affect wages by lowering the unionization rate, RTW can be used as an instrumental variable (IV) to estimate the causal effect of unions on wages. In our preferred specification based on the differential exposure design, the IV estimate of the effect of unions on log wages is 0.35, which substantially exceeds the corresponding OLS estimate of 0.16. This large wage effect suggests that RTW may also directly affect wages due to a reduced union threat effect.

This chapter suggests that there are at least five main challenges to the development of stakeholder theory as it currently stands. We need more research on understanding what counts as the total performance of a business; accounting for stakeholders rather than accounting only for investors; explaining real stakeholder behavior; formulating smart public policy given stakeholder theory; and rethinking the basics of ethical theory. The chapter explains the issues involved in each challenge and suggests ways to meet the challenge. It is a preliminary report of research in progress as well as a blueprint for how others may join the conversation to develop a more useful stakeholder theory.

While the phenomenon of R&D offshoring has become increasingly popular, scholars have mostly focused on R&D offshore outsourcing from the point of view of the client firms, who are often from an advanced country. By examining vendor firms, in this paper the authors shift the focus to the second party in the dyadic relationship of R&D offshore outsourcing. Specifically, the authors compare vendor firms with nonvendor firms from the same emerging economy and industry to look at whether vendor firms from emerging economies can improve their innovation performance by learning from their clients. The authors also look at the role of depth and breadth of existing technological capabilities of the vendor firm in its ability to improve its innovation performance.

This study is based on firm-level data from the Indian biopharmaceutical industry between 2005 and 2016. The authors use the Heckman two-stage model to control for self-selection by firms. The authors compare the innovation performance of vendor firms with nonvendor biopharmaceutical firms (group vs nongroup analysis) as well as innovation performance across vendor firms (within group comparison).

The authors find that, compared to nonvendor firms, R&D offshore outsourcing vendor firms from emerging economies have higher innovation performance. The authors argue that this higher innovation performance among vendor firms is due to learning from their clients. Among vendor firms, the authors find that the innovation gains are contingent upon the two factors of depth and breadth of the vendor firms' technological capabilities.

This paper makes three contributions: First, the authors augment the nascent stream of research on innovation from emerging economy firms. The authors introduce a new mechanism for emerging economy firms to learn and upgrade their capabilities. Second, the authors contribute to the literature on global value chains, by showing that vendor firms are able to learn from their clients and upgrade their capabilities. Third, by examining the innovation by vendor firms, the authors contribute to the R&D offshore outsourcing, which has largely focused on the client.

The study findings have important implications for both clients and vendors. For client firms, the authors provide evidence that knowledge spillovers do happen, and R&D offshore outsourcing can turn vendors into potential competitors. This research helps firms from emerging economies by showing that becoming vendors for R&D offshore outsourcing is a viable option to learn from foreign firms and improve innovation performance. Going outside geographic boundaries may be a large hurdle for these resource-strapped, emerging economy firms. Providing offshore outsourcing services for narrow slices of R&D activities may be a starting point for these firms to upgrade their capabilities.

This paper is among the first to quantitatively study the innovation performance of vendor firms from emerging economies. The authors also contribute to the nascent literature on innovation in emerging economy firms by showing that providing R&D offshore outsourcing services to client firms from advanced countries can improve firms' innovation performance.

Certified B Corporations (B Corps) represent a prominent manifestation of applying stakeholder principles in practice by emphasizing social and environmental performance and striving to create value for all stakeholders. This paper aims to investigate an important question that has been unexplored so far in a vast body of literature on stakeholder management and fast-growing research on B Corps: does the timing of a B Corp’s certification impact the firm’s economic and social performance?

The research on the timing of obtaining B Corp certification is built around three intriguing puzzles: the impact of certification timing on a firm’s economic performance, social performance overall and social performance per stakeholder. In particular, the study examines the relationship between B Corp’s certification date and firms’ financial and social performance between 2017 and 2020.

Based on the data from 168 privately owned B Corps in the USA, the results of our study suggest that while there is no financial benefit associated with earlier certification, there are significant improvements in social performance. Yet, a firm’s social performance improvement is not uniform among its stakeholders.

This study explored the impact of B Corp certification’s timing on the firm’s economic performance within only three years, from 2017 to 2019. This limitation comes from the specifics of the PrivCo database. Measuring a firm economic performance over a longer period may benefit the research on B Corp certification’s timing and which can be a promising path for future research.

When it comes to practical implications, it is important that firms deciding to pursue a B Corp certification understand that certification may not result in an immediate financial impact. This practical implication, though, may need to be calibrated depending on the extent to which participating organizations publicize their certification.

Despite the growing popularity of B Corps in the USA and worldwide, it has been a black box when it comes to understanding when exactly firms should start to pursue B Corp certification to enhance their social value creation. Thus, this study is well timed to contribute to unpacking this black box by showing that the earlier a firm obtains B Corp certification, the more social value it would create. To the best of the authors’ knowledge, this is the only study to date that explored the social performance implications of timing to certify as a B Corp.

When it comes to practical implications, it is important that firms deciding to pursue a B Corp certification understand that certification may not result in an immediate financial impact. This practical implication, though, may need to be calibrated depending on the extent to which participating organizations publicize their certification.

Using the philosophical lenses of revisionist ontology and the politics of personhood, this paper explores the notion of Black Founders of the United States. I introduce the concept critical intellectual agency to argue that Black Founders brought unique contributions to the American experience. Their efforts were twofold. First, Black Founders established separate Black institutions that would become staples in Black communities after emancipation. Second, Black Founders challenged the supposed egalitarian beliefs of White Founders through media outlets. To illustrate, I focus on one Black Founder, Benjamin Banneker and his letter to Thomas Jefferson to illustrate how Black Founders philosophically responded and challenged White Founders prejudicial beliefs about Blackness. This paper seeks to challenge social studies teachers’ curricular and pedagogical approaches to Black Americans during the colonial period by providing a heuristics and language to explore the voices of Black Americans in U.S. history.