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Full-Text Articles in Business
Manager's Toolbox: Ethics And Values, Ratan Tata, Philip C. Zerrillo
Manager's Toolbox: Ethics And Values, Ratan Tata, Philip C. Zerrillo
Asian Management Insights
Ratan Tata zeros in on ethics and values as part of the science of management, and India's current economic journey, in this interview with Philip Zerrillo.
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 …