Business Commons^™

Summary -- Entrepreneurial Uncertainty: What Do Stakeholders Look For?, Douglas A. Bosse, Jeffrey S. Harrison

Management Faculty Publications

This paper proposes that in the early stages of a venture entrepreneurs can reduce uncertainty for stakeholders -- and raise the probability of attracting desirable stakeholders -- by exhibiting behaviors associated with fairness and justice. Actors base their reciprocal behaviors -- both positive and negative -- on their subjective perceptions of distributive, procedural and interactional justice. Thus, entrepreneurs can influence perceptions of fairness in early interactions with stakeholders. This paper extends the logic of reciprocity and fairness to the setting in which entrepreneurial firms are seeking to attract desirable stakeholders in order to commercialize innovations.

Paul M. Klekner (B), Roger R. Schnorbus

Robins School of Business White Paper Series, 1980-2022

This is a fictitious case study, including the name of the restaurant and the people involved.

Paul Klekner graduated first in his class from the Culinary Institute of America (CIA) in 1998; his fellow students named him the chef most likely to succeed in the future. After graduation, he and his wife, Sarah, moved back to his home in Richmond, Virginia where he was employed as a chef at several restaurants including Bottega and Old Original Bookbinders. In 2003, he decided to open his own restaurant, Rogerios, in the Tobacco Row section of Richmond. With an inheritance of $300,000 he …

Or Practice—Efficient Short-Term Allocation And Reallocation Of Patients To Floors Of A Hospital During Demand Surges, Steven M. Thompson, Manuel Nunez, Robert Garfinkel, Matthew D. Dean

Management Faculty Publications

Many hospitals face the problem of insufficient capacity to meet demand for inpatient beds, especially during demand surges. This results in quality degradation of patient care due to large delays from admission time to the hospital until arrival at a floor. In addition, there is loss of revenue because of the inability to provide service to potential patients. A solution to the problem is to proactively transfer patients between floors in anticipation of a demand surge. Optimal reallocation poses an extraordinarily complex problem that can be modeled as a finite-horizon Markov decision process. Based on the optimization model, a decision-support …

Effects Of Auditor Type And Evidence Domain Type On The Influence Of Irrelevant Internal Control Evidence And The Potential For Audit Failure, Daniel Selby

Bookshelf

Internal control systems consist of two evidence domains, automated control evidence and manual process evidence. Auditors can possess knowledge and expertise in both internal control evidence domains. But, auditors tend to possess more knowledge and expertise in one internal control evidence domain than the other internal control evidence domain. Thus, auditors have superior domain knowledge in one of the internal control evidence domains.

Auditors at large accounting firms tend to specialize in the evidence domain of automated controls (information technology auditors or IT auditors) or manual processes (financial auditors). Audit Standard 5 requires IT auditors and financial auditors to gain …

Job Loss And The Fraying Of The Implicit Employment Contract, Kevin F. Hallock

Economics Faculty Publications

Most workers have one employment contract that is explicit and another one that is implicit. The explicit employment contract specifies working hours, compensation, and job tasks. The implicit contract involves expectations about the extent to which the employment relationship is not just a payment for labor on the spot market but instead is likely to continue over time. The possibility of a longer-term commitment between an employer and its employees in turn has a number of implications: for example, whether firms will seek to avoid mass layoffs unless or until absolutely necessary; whether firms may cushion the wages and compensation …

[Introduction To] Global Strategy: Global Dimensions Of Strategy, Stephen Tallman

Bookshelf

This comprehensive volume from Wiley's Global Dimensions of Business series explores the topic of international strategic management at an MBA or Executive Education level. Authored by an accomplished teacher who possesses a strong understanding of the market, this text offers clear frameworks coupled with lively, international case studies.

Postscript: Preserving (And Growing) Brand Value In A Downturn, Randle D. Raggio, Robert P. Leone

Marketing Faculty Publications

We have taken the opportunity provided by the current worldwide recession to further explore the implications of the relationship between brand equity and brand value that we proposed previously,^1,2 and our analysis reveals that companies have one of two strategic options for surviving. The “Just Good Enough” strategy maximizes current value, potentially hurting brand equity and appropriable value (or potential future value) in the process, while the “Altered Amortization” strategy offers an opportunity to chase current value while maintaining brand equity with current prospects and activating latent equity with potential prospects, which may increase appropriable value. Anything between these …

Chasing Brand Value: Fully Leveraging Brand Equity To Maximize Brand Value, Randle D. Raggio, Robert P. Leone

Marketing Faculty Publications

Both researchers and practitioners seek to understand how to leverage brand equity to create value. Adopting ‘the theoretical separation of brand equity and brand value’ framework originally proposed in the Journal of Brand Management by Raggio and Leone, this conceptual paper looks more closely at the brand value construct and the implications of the proposed theoretical separation. The authors argue that firms are continually attempting to ‘chase’ the appropriable value of their brands—defined as the theoretical maximum value that a brand could achieve if all brand equity were fully leveraged. Implications for developing measures of brand value are discussed.

Drivers Of Brand Value, Estimation Of Brand Value In Practice, And Use Of Brand Valuation: Introduction To The Special Issue, Randle D. Raggio, Robert P. Leone

Marketing Faculty Publications

Brands constitute the largest asset for many firms, and brand valuations are increasingly being seen as an important performance metric both for companies and managers.¹ In addition, components of brand valuation models have been found to positively impact financial market performance, so it is critical that managers understand clearly what brand value is, and how they can create and appropriate (capture) as much of that value as possible.² Due to resource constraints, firms are forced at any given time to emphasize either value creation or value appropriation based on strategic priorities. Research shows that the stock market rewards …

Gratitude Works: Its Impact And The Mediating Role Of Affective Commitment In Driving Positive Outcomes, Randle D. Raggio, Judith Anne Garretson Folse

Marketing Faculty Publications

After studying the effects of Louisiana’s post-hurricane “thank you” campaigns, the researchers find expressions of gratitude significantly improve perceptions of Louisiana in the midst of its recovery. Through a national survey conducted November 2006, they find that those who saw or heard a thank you advertisement have more positive attitudes toward the state and its people, a greater willingness to pay a premium for its products, services and travel to the state, and spread positive word-of-mouth, thus justifying the use of public funds to support the campaign. The authors investigate the role of participation on the effectiveness of expressions of …

Owens & Minor: Growth Plan For "Expansion" Products, Roger R. Schnorbus, Littleton M. Maxwell

Robins School of Business White Paper Series, 1980-2022

E. V. Clarke, the Executive Vice President, Distribution of Owens & Minor (O & M) faced a complex strategic challenge in 2009—the organization and growth of the "Expansion" products business. This business comprised several existing product categories (Radiology—Contrast Media, Surgical Instruments, Electrosurgical, Endoscopy and Dialysis), in which O&M had a presence but lacked a clear cut growth strategy. Revenue growth in categories had averaged 15% per annum from 2003 to 2008 without a customer focus; the growth had been achieved through supplying such products to existing customers through existing distribution channels.

Chinese Gaap And Ifrs: An Analysis Of The Convergence Process, Songlan Peng, Joyce Van Der Van Der Laan Smith

Accounting Faculty Publications

In this study, we examine the process of convergence through a longitudinal analysis (1992–2006) of the convergence of Chinese GAAP with IFRS from the perspective of process theory. We find that significant steps toward convergence occurred through the issuance of four successive Chinese GAAPs: 1992, 1998, 2001, and 2006. Convergence occurred both through the direct import of standards from IFRS and progressive changes to Chinese GAAP. Direct import was observed for items either reflective of traditional Chinese accounting practice or ones that addressed situations not considered or not relevant under the pre- vious accounting model. Progressive changes to Chinese GAAP …