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Full-Text Articles in Business
Facilitating Successful Failures, Michelle M. Harner, Jamie Marincic Griffin
Facilitating Successful Failures, Michelle M. Harner, Jamie Marincic Griffin
Faculty Scholarship
Approximately 80,000 businesses fail each year in the United States. This article presents an original empirical study of over 400 business restructuring professionals focused on a critical, arguably contributing factor to these failures—the conduct of boards of directors and management. Anecdotal evidence suggests that management of distressed companies often bury their heads in the sand until it is too late to remedy the companies’ problems, a phenomenon commonly called “ostrich syndrome.” The data confirm this behavior, show a prevalent use of loss framing, and suggest trends consistent with prospect theory. The article draws on these data and behavioral economics to …
Making The Leap To Management: Tips For The Aspiring And New Manager, Femi Cadmus
Making The Leap To Management: Tips For The Aspiring And New Manager, Femi Cadmus
Faculty Scholarship
As the result of innate ability, a fortunate few are able to effortlessly transition from line positions. However, most of us need to plot the path to management astutely and with deliberation. Library professionals might also become "accidental" managers, finding themselves thrust into an unplanned and perhaps unwanted managerial position for which they were not prepared. This is particularly true in the current climate of constrained budgets characterized by restructuring, job freezes, and layoffs.