Business Commons^™

Facilitating Successful Failures, Michelle M. Harner, Jamie Marincic Griffin

Michelle M. Harner

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 …

Intellectual Capital Statement (Ics) As A Method Of Measurement And Management Of Knowledge Assets, Anna Ujwary-Gil

Anna Ujwary-Gil

The article describes empirical verification of an interesting model – Intellectual Capital Statement (ICS). ICS is an example of a method which emphasizes the European contribution into the developing trend of intellectual capital (IC) measure and evaluation, with particular attention paid to the SME sector (a strong presence of Scandinavian countries and the USA is noticeable here). ICS is presented here as a tool enabling us to manage and evaluate IC of a company and to demonstrate the dynamics of its changes. The article contains a case study of a company operating in the construction sector in Poland. It also …

Wisdom From Warren Buffett, Todd A. Finkle

Todd A Finkle