W. Scott Sherman and Valrie Chambers
Corporate scandals at Enron, Tyco, and MCI highlight the issue of opportunistic management behavior. The US Congress responded to these scandals by passing the Sarbanes‐Oxley Act…
Abstract
Corporate scandals at Enron, Tyco, and MCI highlight the issue of opportunistic management behavior. The US Congress responded to these scandals by passing the Sarbanes‐Oxley Act of 2002 (SOX). SOX imposes additional management responsibilities and corporate operating costs on companies trading under SEC regulations. This paper examines three options for US corporations responding to SOX: compliance with SOX, taking a company private, or moving to a non‐ SEC‐regulated exchange, such as an international exchange. The paper then examines potential corporate governance options using Transaction Cost Economics (TCE; Williamson 1985) to develop propositions regarding which options firms may select.
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W. Scott Sherman and Katherine J. Roberto
This paper considers the role of culture in crisis management narratives. The importance of sensemaking and sense-giving to crisis management is expanded by exploring how…
Abstract
Purpose
This paper considers the role of culture in crisis management narratives. The importance of sensemaking and sense-giving to crisis management is expanded by exploring how understanding organization culture may affect the plausibility of sense-giving narratives in crises.
Design/methodology/approach
The crisis management, sensemaking, sense-giving and organizational culture literature studies are briefly reviewed. The paper then explores how plausibility may be dependent on organizational culture and how different cultures may create different dependencies. Propositions are developed and the potential organizational interventions based on these propositions in the action research tradition are offered, as they are potential practical and research implications.
Findings
Organizational cultures as shared sensemaking mechanisms provide leaders with the framework for constructing crisis management messages. A plausible message must resonate within the shared cultural experiences of members to shape and direct behaviors during a crisis while maintaining necessary flexibility to evolve as the crisis progresses.
Research limitations/implications
Potential avenues of future research include empirically testing the effects of cultural alignment on crisis management messaging employing action research or other methods, how strength of culture affects the process and the malleability of plausibility.
Practical implications
Practical implications include an organization's understanding of how culture affects not only the messages sent but also how employees might receive the sense-giving narratives. The paper also highlights the importance of flexibility in sense-giving narratives to allow evolution of the message as the crisis changes. Additional practical implications are provided.
Originality/value
This manuscript considers the role of culture in crisis management sense-giving narratives, a topic that has received little research attention. The manuscript argues that aligning the narrative within the organization's shared cultural understanding will increase employee acceptance and adherence to the message. The paper further discusses the importance of flexibility in the sense-giving narratives as the crisis changes.
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Of all of the educational tools used in social studies education, by far the most critiqued is the standard basal textbook. If used properly, nevertheless, textbooks are not as…
Abstract
Of all of the educational tools used in social studies education, by far the most critiqued is the standard basal textbook. If used properly, nevertheless, textbooks are not as problematic as critics claim and can be a useful tool in the teaching and learning of social studies and history. Based on the focus found in the Common Core Standards on informational texts, the practicality of using textbooks is especially true in today’s educational environment. This article was written with the goal of helping social studies teachers develop lessons that assist their students in meeting the requirements of the Common Core. One specific strategy is described to offer teachers an example of how to effectively use their textbook in a Common Core focused and social studies content-based activity. A sample lesson, based on an inquiry activity titled “Hollywood or History,” is provided.
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Anita L. Blanchard and Andrew McBride
Meetings are ubiquitous at work. Therefore, understanding what makes meetings effective (or not) is important. Entitativity (i.e., the “group-ness” of a meeting) may theoretically…
Abstract
Meetings are ubiquitous at work. Therefore, understanding what makes meetings effective (or not) is important. Entitativity (i.e., the “group-ness” of a meeting) may theoretically explain when some meetings are effective. That is, when meeting participants perceive a high enough level of group-ness in their meeting, then they begin to enact the processes to create a successful meeting and experience the outcomes of a successful meeting. The authors propose a model connecting the characteristics of successful face-to-face (FtF) meetings to entitativity and extrapolate this model to online meetings. Specifically, the authors interpret well-researched characteristics and practices of meetings (e.g., using an agenda and meeting punctuality) to be examples of well-established entitativity antecedents (e.g., creating similarity of goals and establishing meeting boundaries). That is, using an agenda creates effective meetings because it focuses members’ attention on common goals. Therefore, entitativity may be an explanatory mechanism for successful meetings. The authors examine the unique challenges of online meetings, which are growing in number. The authors note that entitativity may be harder to establish in online meetings making successful online meetings more difficult. Characteristics of online meetings (e.g., focusing on the few shared documents which may focus members on goals) that may promote success. The authors propose further theoretical work as well as suggest strategies that can be used to increase entitativity in FtF and online meetings.
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The Bureau of Economics in the Federal Trade Commission has a three-part role in the Agency and the strength of its functions changed over time depending on the preferences and…
Abstract
The Bureau of Economics in the Federal Trade Commission has a three-part role in the Agency and the strength of its functions changed over time depending on the preferences and ideology of the FTC’s leaders, developments in the field of economics, and the tenor of the times. The over-riding current role is to provide well considered, unbiased economic advice regarding antitrust and consumer protection law enforcement cases to the legal staff and the Commission. The second role, which long ago was primary, is to provide reports on investigations of various industries to the public and public officials. This role was more recently called research or “policy R&D”. A third role is to advocate for competition and markets both domestically and internationally. As a practical matter, the provision of economic advice to the FTC and to the legal staff has required that the economists wear “two hats,” helping the legal staff investigate cases and provide evidence to support law enforcement cases while also providing advice to the legal bureaus and to the Commission on which cases to pursue (thus providing “a second set of eyes” to evaluate cases). There is sometimes a tension in those functions because building a case is not the same as evaluating a case. Economists and the Bureau of Economics have provided such services to the FTC for over 100 years proving that a sub-organization can survive while playing roles that sometimes conflict. Such a life is not, however, always easy or fun.
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Many jurisdictions fine illegal cartels using penalty guidelines that presume an arbitrary 10% overcharge. This article surveys more than 700 published economic studies and…
Abstract
Many jurisdictions fine illegal cartels using penalty guidelines that presume an arbitrary 10% overcharge. This article surveys more than 700 published economic studies and judicial decisions that contain 2,041 quantitative estimates of overcharges of hard-core cartels. The primary findings are: (1) the median average long-run overcharge for all types of cartels over all time periods is 23.0%; (2) the mean average is at least 49%; (3) overcharges reached their zenith in 1891–1945 and have trended downward ever since; (4) 6% of the cartel episodes are zero; (5) median overcharges of international-membership cartels are 38% higher than those of domestic cartels; (6) convicted cartels are on average 19% more effective at raising prices as unpunished cartels; (7) bid-rigging conduct displays 25% lower markups than price-fixing cartels; (8) contemporary cartels targeted by class actions have higher overcharges; and (9) when cartels operate at peak effectiveness, price changes are 60–80% higher than the whole episode. Historical penalty guidelines aimed at optimally deterring cartels are likely to be too low.
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Noel Scott, Brent Moyle, Ana Cláudia Campos, Liubov Skavronskaya and Biqiang Liu