To get the full power of the corporation driving your strategy, it has to be integrated into the company culture. This sounds like an abstract idea, but it isn't. To successfully…
Abstract
To get the full power of the corporation driving your strategy, it has to be integrated into the company culture. This sounds like an abstract idea, but it isn't. To successfully implement strategy, your management team must first:
The 1990 International Conference of The Planning Forum held in Washington, D. C. set a new attendance record. Some 1300 senior executives exchanged war stories, business…
Abstract
The 1990 International Conference of The Planning Forum held in Washington, D. C. set a new attendance record. Some 1300 senior executives exchanged war stories, business theories, and points of view while attending three days of presentations by major company CEOs, consultants to leading corporations, noted academics, and practitioners of strategic management. Many of the star presenters had the discerning Bernard C. Reimann, chairman of the Department of Management at Cleveland State University, in their audience busily taking notes. Professor Reimann regularly reports on major strategic management conferences for Planning Review.
There were a lot of eager customers at the Conference Board's annual strategic planning conference in March. Many of us had just read Walter Kiechel's Fortune article about “Smart…
Abstract
There were a lot of eager customers at the Conference Board's annual strategic planning conference in March. Many of us had just read Walter Kiechel's Fortune article about “Smart Corporate Strategy for the 1990s” (February 29, 1988), which presents a remarkable reversal of the publication's skeptical attitude toward strategic management thinking. As a result, I felt the conference theme, selected by its organizer, Walter Schaffir, was made to order for our turbulent times. If my colleagues and I are to keep our jobs in the next decade, we really need to learn all we can about “Getting Value from Strategic Planning!”
The past decade has seen widespread adoption of specific strategy analysis methods ranging from PIMS to portfolio management. Recently, disenchantment has set in. The answer lies…
Abstract
The past decade has seen widespread adoption of specific strategy analysis methods ranging from PIMS to portfolio management. Recently, disenchantment has set in. The answer lies not in rejecting the various theories and models, but in creatively combining usage of them. Each may only give part of the picture, but together they can clarify even the most complex strategy.
The Planning Forum's Annual Conference in Washington, D.C. posted another attendance record. Some 1300 senior executives exchanged war stories, business theories, and points of…
Abstract
The Planning Forum's Annual Conference in Washington, D.C. posted another attendance record. Some 1300 senior executives exchanged war stories, business theories, and points of view with each other while attending three days of presentations by major company CEOs, consultants to leading corporations, noted academics, and practitioners of strategic management.
Nidhi Yadav, Dukhabandhu Sahoo and Naresh Chandra Sahu
This study aims to assess the recreational value of the National Chambal Sanctuary highlighting the potential benefits of conservation and the need for sustainable practices.
Abstract
Purpose
This study aims to assess the recreational value of the National Chambal Sanctuary highlighting the potential benefits of conservation and the need for sustainable practices.
Design/methodology/approach
This study uses the Individual Travel Cost Method to evaluate the expenses of individuals visiting the National Chambal Sanctuary.
Findings
The study reveals that the National Chambal Sanctuary has a significant recreational value, with an average visitor value of INR 35,335.69 or USD 434 and an annual value of INR 132,473,501.81 or approximately USD 1.62m, indicating substantial economic contribution.
Research limitations/implications
The study's limitations may stem from data collection constraints, visitor reporting biases or other factors affecting estimates' accuracy. Future research could explore socio-economic factors or factors affecting low tourist inflow in India's protected areas (PAs).
Practical implications
This study suggests raising entrance fees for the National Chambal Sanctuary to ensure financial sustainability, based on its high recreational value and average consumer surplus. This has practical implications for policymakers, conservationists and the tourism industry.
Social implications
The study underscores the significance of protecting PAs like the National Chambal Sanctuary, suggesting that public attitudes towards biodiversity conservation can be influenced by highlighting its economic and recreational value and promoting awareness of its significance.
Originality/value
The study evaluates the recreational value of a wildlife sanctuary in India, offering insights into conservation's economic benefits and sustainable practices and promoting further research.
Details
Keywords
James O. Fiet and Rita D. Kosnik
The use of covariance structure modeling is explored as a means of moving toward a resolution of the debate over the antecedents of executive compensation. The major strength of…
Abstract
The use of covariance structure modeling is explored as a means of moving toward a resolution of the debate over the antecedents of executive compensation. The major strength of this methodology is that it enables researchers to measure the effects of unobserved factors on measured variables. It is suggested that covariance structure modeling is a promising way of studying the effect of institutional isomorphism on executive compensation. The popular business press has questioned repeatedly the justification for and the performance effects of prevailing executive compensation systems (Crystal, 1988; Loomis, 1982; Patton, 1985). These articles argue that executives are more interested in creating wealth for themselves than for stockholders. They also underscore the absence of an obvious link between executive compensation and firm performance. Recent academic research on executive compensation adopts an agency perspective that emphasizes potential conflicts of interest between managers and stockholders. It contends that, in the absence of effective disciplining and monitoring systems, executive compensation plans may direct managers' efforts toward personal wealth enhancement to the detriment of firm value (Baumol, 1958; Berle & Means, 1932). In response, scholars have urged that executive compensation plans contain monetary incentives that only accrue to executives when shareholder wealth is maximized (Kerr, 1985; Rappaport, 1983; Tehranian & Waegelein, 1985). However, designing compensation systems that effectively align the interests of managers and stockholders requires a knowledge of the role and effect of relevant driving forces on compensation. Statistical research on executive compensation has been guided predominantly by a search for tangible, observable determinants (Ciscel & Carroll, 1980), examples of which have been firm size or growth rate (Baumol, 1967; Marris, 1963), inter‐firm and inter‐in‐dustry differences (Coughlan & Schmidt, 1985), and performance (Murphy, 1986). The emphasis on such tangible explanations is not surprising given the overwhelming use of econometric techniques, such as ordinary least squares regression (Ciscel & Carroll, 1980; Finkelstein & Hambrick, 1988), logistic regression (Walking & Long, 1984), time series analysis (Murphy, 1985), and event studies (Brickley, Bhagat & Lease, 1985; Coughlan & Schmidt, 1985; Tehranian & Waegelein, 1985). This paper argues that the focus on tangible, observable variables by compensation researchers is a methodologically ‐ driven practice that constrains theory building and testing. As a result, we may have ignored interesting and relevant theoretical frameworks for the study of executive compensation. We also have overlooked the use of analytical techniques that allow us to examine the role of potentially relevant latent constructs. In this paper, we will describe and illustrate the use of covariance structure modeling for the study of institutional pressures on executive compensation.
Patricia Sorce, Philip R. Tyler and Lynette M. Loomis
Examines an attempt to define segments within the Older Americanmarket based on lifestyle variations. Identifies four clusters withsignificant marketing potential: Self‐Reliants…
Abstract
Examines an attempt to define segments within the Older American market based on lifestyle variations. Identifies four clusters with significant marketing potential: Self‐Reliants, Active Retirees, Family Oriented, and Young and Secures. Concludes that lifestyle variables should be used to segment the market, the difficulties in using them indicating a need for a standardized lifestyle inventory for the Older American market.