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2025

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Articles 811 - 840 of 857

Full-Text Articles in Business Administration, Management, and Operations

The Leadership Pivot: How Labor Market Dynamics And The Ncaa Transfer Portal Impacts Leadership, Evan Wilson Jan 2025

The Leadership Pivot: How Labor Market Dynamics And The Ncaa Transfer Portal Impacts Leadership, Evan Wilson

Williams Honors College, Honors Research Projects

This project will cover a multitude of topics specific to my major, and also will use my in depth knowledge and connections within a collegiate sport to analyze how labor market changes effect the leadership styles of leaders within a given industry. This project is going to challenge me as a student because of the in depth research and data collection that will be necessary to not only educate myself about labor markets and leadership styles, but also educate myself enough to be able to present the information in a way that is digestible to readers. The other aspect of …


Does The Acquirer's Complexity Affect The Market Reaction To M&A Decisions?, Rajib Chowdhury, John A. Doukas Jan 2025

Does The Acquirer's Complexity Affect The Market Reaction To M&A Decisions?, Rajib Chowdhury, John A. Doukas

Finance Faculty Publications

We examine whether and how acquiring firms' complexity affects investor perception at the announcement of M&A decisions. Using well-established data of firm complexity developed through combining machine learning and a lexicon of words, we find a significant positive relationship between acquiring firm complexity and cumulative abnormal returns (CAR), indicating that more intricate firms are viewed as more valuable or competent in mergers and acquisitions. This association is stronger for acquirers with high operating risk, organizational capital, R&D intensity, large and independent boards, and larger targets. We also present evidence that high-complexity bidders offer higher takeover premiums. Our study contributes to …


Peaking Today, Taking It Easy Tomorrow: Daily Performance Dynamics Of Working Long Hours, Lieke L. Ten Brummelhuis, Charles Calderwood, Christopher C. Rosen, Alison S. Gabriel Jan 2025

Peaking Today, Taking It Easy Tomorrow: Daily Performance Dynamics Of Working Long Hours, Lieke L. Ten Brummelhuis, Charles Calderwood, Christopher C. Rosen, Alison S. Gabriel

Management Faculty Publications and Presentations

Underlying the “ideal worker” image that pervades many organizational cultures is the assumption that working longer hours equates to higher performance, despite recovery research that suggests that long work hours might actually impair future work performance. In an effort to reconcile these differences in how long work hours are thought to relate to job performance, we develop and test a conceptual model in which daily boosts in same-day performance associated with working longer hours could be offset by lower next-day performance. More specifically, we examine if working a longer day than usual reduces sleep, which has the potential to diminish …


Taking The Temperature: What The Acd 2025 Survey Reveals, Mike Graham, Suzan Pitman Jan 2025

Taking The Temperature: What The Acd 2025 Survey Reveals, Mike Graham, Suzan Pitman

Journal of the American College of Dentists

The American College of Dentists surveyed its Fellows to help leadership better understand how our Fellows perceive and interact with the College. The results will be used to determine organizational priorities and help guide the continued implementation of the strategic plan. The key takeaways of the survey were that (1) the 2023 Strategic Plan implementation is on the right track, (2) Fellows value their connection to the ACD, (3) communication between the organization and Fellows has improved, and (4) leadership and staff must continue to develop a better-defined knowledge base to support local leaders.


Exploring Childcare Leaders’ Perspectives On Program Philosophies At The Intersection Of Care, Education, And Business: A Multi-Method (Qual + Qual) Study Using Simon Sinek’S Golden Circle, Megan Kybartas Jan 2025

Exploring Childcare Leaders’ Perspectives On Program Philosophies At The Intersection Of Care, Education, And Business: A Multi-Method (Qual + Qual) Study Using Simon Sinek’S Golden Circle, Megan Kybartas

Theses and Dissertations

This multi-method (QUAL + qual) study explores childcare leaders’ perspectives on program philosophies at the intersection of care, education, and business, which I call The Childcare Tripartite. Recognizing the significant dependency on high-quality childcare services and the foundational role of program philosophies in achieving this quality, this research addresses a notable gap in the literature regarding how early childhood leaders communicate and prioritize their program philosophies within the complex American childcare landscape. Employing semi-structured interviews, documentary materials, and demographic forms, and analyzed through both thematic and deductive content analysis, drawing on Simon Sinek’s Golden Circle, the study uncovers how philosophical …


Reconciling Jekyll And Hyde: The Future Of Masculinity Research Within The Domestic Violent Extremism Context, Sam T. Hunter, Brett H. Neely, Carter Welch, Amanda N. Moeller Jan 2025

Reconciling Jekyll And Hyde: The Future Of Masculinity Research Within The Domestic Violent Extremism Context, Sam T. Hunter, Brett H. Neely, Carter Welch, Amanda N. Moeller

Department of Management: Faculty Publications

Violence among young men in the United States has escalated in recent years, leading to two contrasting perspectives of young men—either as (a) agentic aggressors or (b) by-products of societal shifts that have caused disadvantage. The first perspective characterizes men as entitled and reactionary, prone to aggression when their societal expectations are unmet. This view aligns with the frustration-aggression hypothesis in which unmet desires lead to hostile behaviors, particularly among individuals who perceive a loss of status and significance. Conversely, the second perspective views men as victims of rapid societal changes, such as job displacement, educational disparities, and shifting gender …


The New Professional: Intentional Goal-Setting For 2025, Amrita Patel D.D.S. Jan 2025

The New Professional: Intentional Goal-Setting For 2025, Amrita Patel D.D.S.

The Journal of the Michigan Dental Association

The article emphasizes the importance of intentional goal setting, networking, and leadership for new dentists to achieve long-term success. It advocates for setting clear, measurable goals, breaking them into manageable milestones, and focusing on building strong professional relationships. Networking with mentors and peers, engaging in social media, and participating in dental organizations are highlighted as ways to foster growth and opportunities. Leadership roles, even in small capacities like volunteering or joining committees, are seen as critical steps toward personal development and career advancement. These strategies collectively help new dentists establish a solid foundation for achieving their professional aspirations.


Staff Matters: Why Are Our Employees Leaving? And How Do We Keep Them?, Jodi Schafer Sphr, Shrm-Scp Jan 2025

Staff Matters: Why Are Our Employees Leaving? And How Do We Keep Them?, Jodi Schafer Sphr, Shrm-Scp

The Journal of the Michigan Dental Association

The article addresses the challenges of staff attrition in dental practices, emphasizing its costly impact and the need to understand its causes. Common reasons for attrition include low compensation, high workloads, poor management practices, and lack of career development opportunities. Solutions involve gathering feedback through exit interviews, improving salaries and benefits, balancing workloads, enhancing management styles, and offering career growth. Proactive measures can help retain staff and create a stable, supportive work environment.


Mda Services: Let Your Mda Membership Put Money Back In Your Pocket, Reva Darling Jan 2025

Mda Services: Let Your Mda Membership Put Money Back In Your Pocket, Reva Darling

The Journal of the Michigan Dental Association

MDA membership offers significant financial savings through partnerships with endorsed vendors, providing products and services to enhance dental practice success. Members can save over $30,000 annually by utilizing resources like PPO Negotiation Solutions, Best Card for credit processing, ProSites for digital marketing, Eagle Associates for compliance, and iCoreConnect for cloud-based software. Additional discounts are available on dental supplies, accounting, and in-house dental plan administration, among other services. These benefits demonstrate the value of MDA membership in streamlining operations and improving profitability.


J Mich Dent Assoc January 2025 Jan 2025

J Mich Dent Assoc January 2025

The Journal of the Michigan Dental Association

Each month, the Journal of the Michigan Dental Association provides news, information, and features about Michigan dentistry to our state's oral health community and the MDA's 6,200+ members. It is the primary publication reaching Michigan dentists. The January issue sets the tone for February, the observance of Children’s Dental Health Month.

Michigan Academy of Pediatric Dentistry President Jessica Bentoski welcomes readers to this special issue, which features a cover feature on “Approaches to Care for Children with Special Needs in Dental Settings: Desensitization and Teledentistry” and a supporting article on “General Dentists’ Education, Knowledge, Attitudes, and Behavior Concerning the Effects …


Becoming A Leader “On The Job”: An Exploratory Study Examining How Internal Interim Leaders Build Their Leadership Capacity While Nonprofit Executive Directors Are On Sabbatical, Michelle Schneider Jan 2025

Becoming A Leader “On The Job”: An Exploratory Study Examining How Internal Interim Leaders Build Their Leadership Capacity While Nonprofit Executive Directors Are On Sabbatical, Michelle Schneider

Dissertations

Nonprofit organizations have long underinvested in leadership development, potentially hindering their ability to fulfill their missions effectively. This study examined the use of nonprofit organization sabbaticals that give executive directors time away while building the leadership capabilities of the interim leader. This research explored the on-the-job leadership development of six individuals who served as interim leaders in southern California nonprofit organizations during their executive directors' participation in a 3-month, foundation-funded sabbatical program.

In this study, data were collected through in-depth interviews with interim leaders. A formative influences timeline technique was employed to center the participant's voice rather than the interviewer's …


To Compare Is Human: A Review Of Social Comparison Theory In Organizational Settings, Michael J. Matthews, Thomas K. Kelemen Jan 2025

To Compare Is Human: A Review Of Social Comparison Theory In Organizational Settings, Michael J. Matthews, Thomas K. Kelemen

Management Faculty Publications

Social comparisons are one of the most ubiquitous behaviors that individuals, groups, and firms undertake. In particular, social comparison theory is based upon the premise that actors are motivated to engage in comparisons and that decisions throughout this process impact employees’ core self-evaluations, team relations, executives’ behaviors, firm prestige, and more. However, despite the prevalence of the phenomenon—and thereby the frequent application of the theory in organizational studies—a synopsis of the theory’s underpinnings and extant findings remains absent. Here, we present a state-of-the-art review that summarizes the theory’s history and mechanics and critically examines how social comparison theory has been …


The Role Of Psychological Capital On Organisational Citizenship Behaviours Within The Ghanaian Public Sector: A Conservation Of Resources Perspective., Duke Debrah Afrane Jan 2025

The Role Of Psychological Capital On Organisational Citizenship Behaviours Within The Ghanaian Public Sector: A Conservation Of Resources Perspective., Duke Debrah Afrane

Doctoral

The public sector of Ghana has been plagued with low productivity issues for over a decade. Psychological capital is a resource that can increase citizenship behaviours, which help to boost productivity. Conservation of resources theory provides a mechanism for explaining the role that psychological capital plays in encouraging organisational citizenship behaviours. This mechanism is reflected in the value of psychological capital among employees and context-specific factors within the omnibus and discrete contexts of the Ghanaian public sector. The thesis explored this through a two-phase research method. Firstly, employing semi-structured interviews to explore the value of psychological capital, and identify perception …


Motivación Y Su Efecto En La Eficiencia De Equipos De Trabajo Remoto En Una Organización Privada, Ysabel Quintana Jan 2025

Motivación Y Su Efecto En La Eficiencia De Equipos De Trabajo Remoto En Una Organización Privada, Ysabel Quintana

Theses and Dissertations

Esta disertación aplicada con enfoque cualitativo y diseño fenomenológico fue diseñada para analizar cómo las estrategias motivacionales implementadas por líderes influyen en la eficiencia de equipos de trabajo remoto en una organización privada dedicada a la protección de niños y adolescentes. Se seleccionó una muestra de diez líderes de distintos departamentos que gestionan equipos remotos.

Para la recolección de los datos se realizaron entrevistas semiestructuradas para explorar sus experiencias, herramientas tecnológicas utilizadas y enfoques motivacionales. Los datos recopilados se analizaron mediante el método de análisis temático, permitiendo identificar patrones comunes relacionados con la motivación, la productividad y el estilo de …


Young Or Old, Smell The Roses In Your Practice, Michelle C. Dziurgot D.D.S. Jan 2025

Young Or Old, Smell The Roses In Your Practice, Michelle C. Dziurgot D.D.S.

The Journal of the Michigan Dental Association

This editorial reflects on the journey of becoming a dentist and the opportunity to inspire the next generation through compassionate care and education. It emphasizes the importance of fostering positive relationships with pediatric patients, using visits to showcase dentistry as a fulfilling career. By encouraging interest in the dental field among young patients and engaging with community programs, dental professionals can nurture future colleagues. The piece also acknowledges challenges, such as overcoming patient fears and misconceptions, and offers strategies for maintaining personal motivation and patient trust. Ultimately, it calls for a balance between professional dedication and personal satisfaction in dentistry.


Market Reactions To Disruptions In The Aerospace Industry: An Event Study Analysis Of Abnormal Returns And Corporate Resilience, Rose L. Lauture Jan 2025

Market Reactions To Disruptions In The Aerospace Industry: An Event Study Analysis Of Abnormal Returns And Corporate Resilience, Rose L. Lauture

Doctoral Dissertations (DBA)

This study examines the effects of component failures, regulatory actions, and safety violations on stock returns and market volatility in the U.S. aerospace sector. Using FAA incident reports, WRDS market data, and corporate disclosures, the analysis combines event study methodology with ARCH/GARCH volatility models and a multiple regression approach. The results reveal that while incident frequency does not significantly affect stock prices measured by abnormal returns, firm-specific financial indicators—such as cash holdings and book-to-market ratio—play a substantial role. The study highlights the limited explanatory power of traditional regression models and calls for the inclusion of market risk and investor sentiment …


Integrated Qfd-Triz Optimization Method For Satellite Solar Array Design In Cost-Sensitive Environment, Hongyi Zhang, Liang Su Jan 2025

Integrated Qfd-Triz Optimization Method For Satellite Solar Array Design In Cost-Sensitive Environment, Hongyi Zhang, Liang Su

International Journal of Aviation, Aeronautics, and Aerospace

With the rapid evolution of commercial space markets in the new space era, satellite design philosophy is transitioning from "performance supremacy" toward "cost-effectiveness priority." This research concentrates on solar arrays, a critical component representing 15%-20% of satellite costs, addressing limitations in traditional design methodologies that inadequately coordinate user requirements and lack systematic frameworks for cost-performance collaborative optimization. We propose a solar array optimization methodology predicated on the integration of Quality Function Deployment (QFD) and the Theory of Inventive Problem Solving (TRIZ). This methodology incorporates cost dimensions through an extended QFD matrix, employs TRIZ to resolve technical contradictions, and develops a …


Mcdonald’S Corporation Case Analysis Fall 2025, Madalynn Janousek Jan 2025

Mcdonald’S Corporation Case Analysis Fall 2025, Madalynn Janousek

Honors Program: Senior Projects (Public)

McDonald’s Corporation has experienced rapid growth and expansion across the United States and globally, entering diverse markets despite evolving regulations, dietary trends, and consumer preferences. The company’s marketing strategies and ability to adapt have been strongly influenced by the leadership of its CEOs over time. Most recently, CEO Chris Kempczinski has been tasked with guiding the company through a post–COVID-19 market marked by staffing shortages, economic pressures, declining customer service, and rising consumer expectations. While McDonald’s continues to hold a significant share of the market, it must invest in improved customer service, innovative marketing, and healthier menu options to remain …


A Mixed Methodology Study On Effective Products And Services For Consulting Firms, Doc S. Dillard Jan 2025

A Mixed Methodology Study On Effective Products And Services For Consulting Firms, Doc S. Dillard

Doctor of Education Dissertations

This study evaluated organizational effectiveness within small- to medium-sized educational technology and technology-adjacent organizations for consulting firms to develop appropriate products and services for clients. This allowed consulting firms to develop innovation in their approaches. More specifically, this research supported consulting firms specializing in educational technology in developing products and services for industry leaders to improve organizational effectiveness. The research employed a mixed methodology consisting of 10 educational technology leaders. Data were collected from survey questions and through evaluating related literature. The literature compiled included organizations across education, technology, and technology-adjacent industries. The research evaluated organizations through McKinsey’s 7S framework. …


Generation Of Family Ceo And Outward Fdi: An Examination Of Indian Family Firms, Arindam Mondal, Somnath Lahiri, Sougata Ray Jan 2025

Generation Of Family Ceo And Outward Fdi: An Examination Of Indian Family Firms, Arindam Mondal, Somnath Lahiri, Sougata Ray

Faculty Publications – Management

Family firm research has upheld that generation of top family-based executives (including CEOs) plays a significant role in strategy development and governance. A key growth strategy undertaken by family firms around the world, including the Asia-Pacific region, is internationalization. But how generation of family CEO impacts family firm internationalization, particularly outward FDI (OFDI), remains largely overlooked. Drawing on the family firm and internationalization literature and utilizing the socioemotional wealth (SEW) logic, we examine in this study the influence that family CEO generation (founder versus later) has on family firm’s extent of OFDI. We also investigate the extent to which two …


Psychological Safety And Belonging In High-Risk Search And Rescue Teams: A Mixed-Methods Study, Sarah Seiler Jan 2025

Psychological Safety And Belonging In High-Risk Search And Rescue Teams: A Mixed-Methods Study, Sarah Seiler

Antioch University Dissertations & Theses

Wilderness search and rescue (SAR) volunteers and teams are essential for the safety of outdoor adventurers, and yet, organizational culture has not been studied closely within this population. While extensive research is available regarding psychological safety in corporate and healthcare environments, the role of psychological safety in high reliability teams, like wilderness SAR, is limited. Organizational belonging is a burgeoning research area that has yet to be explored in wilderness SAR. This mixed methods phenomenological study increased the understanding of the experience of psychological safety and organizational belonging in wilderness SAR volunteers. Initial quantitative statistical analysis that utilized t-tests, correlation …


Ethical Imperatives For Rational Paternalism In Advisor-Client Relationships, Igor A. Zey Jan 2025

Ethical Imperatives For Rational Paternalism In Advisor-Client Relationships, Igor A. Zey

Antioch University Dissertations & Theses

This study seeks to understand the role of ethics and rational paternalism in the practice of financial advising. A significant amount of research examines the effects of rational paternalism on the governmental and institutional levels. Very little research has addressed the issues associated with rational paternalistic behavior by advisors toward their clients. Investopedia (2013) focuses on advisors’ ethics and moral responsibilities, underscoring the ethical standards clients should expect from their financial advisors. However, practically none of the literature examines the ethics, morals, and practical aspects of individual paternalism. In response, this study examines the concept of rational paternalism in advisor-client …


A Discourse Analysis Of The Development Of Institutional Compliance Mechanisms At The International Maritime Organization, Rebecca Pskowski Jan 2025

A Discourse Analysis Of The Development Of Institutional Compliance Mechanisms At The International Maritime Organization, Rebecca Pskowski

World Maritime University Ph.D. Dissertations

The International Maritime Organization (IMO) plays a pivotal and essential role in international maritime governance, providing a forum for nation states to develop and agree to international standards for maritime safety and security and the protection of the marine environment. IMO is widely perceived to be one of the most successful universal international organizations (IOS), because of the high technical quality of the conventions and other legal instruments it develops, and the near-universal acceptance of most of those instruments. IMO could be seen as an exemplar of the "technical" specialized United Nations agency, where nation-states set aside politics to agree …


Technology As The Sovereign: A Dual-Path Model Of Managers’ Prioritization Of Technical Tasks, Hesheng Huang Jan 2025

Technology As The Sovereign: A Dual-Path Model Of Managers’ Prioritization Of Technical Tasks, Hesheng Huang

Dissertations and Theses Collection (Open Access)

Competitive pressures challenge managers to navigate a multitude of responsibilities. On the basis of Vancouver and colleagues’ (Vancouver et al., 2010; Ballard et al., 2016) multiple-task pursuit framework, Sherf, Venkataramani, and Gejendran (2019) theorized that when faced with competition between technical tasks (e.g., getting things done, meeting assigned goals, promoting quality or accuracy of work, satisfying customer demands, and fulfilling technical responsibilities) and justice tasks (e.g., evaluating employees’ performance, recognizing employees’ achievements, and allocating rewards), managers tend to prioritize technical tasks over justice tasks under high workload demands. On this basis, I aim to examine a model that encompasses the …


Women On Boards Annual Monitoring Report 2024, Center For Entrepreneurship And Innovation Jan 2025

Women On Boards Annual Monitoring Report 2024, Center For Entrepreneurship And Innovation

Faculty Books

The AUC Egypt women on boards monitoring report is issued annually to track and monitor the presence and representation of women on boards towards meeting the goal of having 30% women on boards by 2030. The importance of improving representation of women on boards stems from the fact that it is one of the good governance pillars, in addition to the positive impact on firm performance and profitability. The National Strategy for the Empowerment of Egyptian Women 2030 has accordingly promoted for increasing the leadership roles of women and holding key positions in public institutions and companies, setting the target …


The Motives For Mergers And Acquisitions And Their Implications For Research And Practice, Kris Irwin, Craig Armstrong, Paul Drnevich, Mario Schijven Jan 2025

The Motives For Mergers And Acquisitions And Their Implications For Research And Practice, Kris Irwin, Craig Armstrong, Paul Drnevich, Mario Schijven

Management Faculty Publications

Mergers and Acquisitions (M&A) have long intrigued scholars given their size, complexity, and frequent failure. Despite an extensive body of research on M&A, a key limitation in M&A research is the lack of focus on the motives underpinning acquisitions, which may explain frequent mixed and inconclusive results. Much of the existing literature struggles to fully capture the complex and multifaceted nature of these motives, limiting the ability to draw consistent conclusions. In this paper, we review academic and practical perspectives on M&A motives, highlighting both discrepancies and methodological challenges. Our key contributions include a comparison of theoretical and practical insights, …


A Different Risk-Return Relationship, Aydin Selim Oksoy, Matthew R. Farrell, Shaomin Li Jan 2025

A Different Risk-Return Relationship, Aydin Selim Oksoy, Matthew R. Farrell, Shaomin Li

Management Faculty Publications

We challenge the widely accepted premise that the valuation of an early-stage firm is simply the capital invested (USD) divided by the equity received (%). Instead, we argue that this calculation determines the break-even point for the investor; for example, investing USD 1.0 in exchange for a 10% equity sets a firm-level free cash flow target of USD 10.0, resulting in a 0% return for the investor. The design of our study is that of a descriptive analysis of the phenomenon, based on three assumptions: that angel investing is a two-issue negotiation, that negotiation positions are communicated sequentially from capital …


Not Exactly "Perfect," But Pretty Darn Good: A Review Of Michael Schur's Book- How To Be Perfect: The Correct Answer To Every Moral Question, Justin Pepe Jan 2025

Not Exactly "Perfect," But Pretty Darn Good: A Review Of Michael Schur's Book- How To Be Perfect: The Correct Answer To Every Moral Question, Justin Pepe

Management Faculty Publications

How to Be Perfect: The Correct Answer to Every Moral Question provides a quick-start guide to addressing ethical challenges by using humor to make complex philosophical concepts accessible. Based on the premise that traditional ethics pedagogy is often stodgy, esoteric, and depressing, the book appeals to students and professionals who find conventional texts unapproachable. By blending humor with moral philosophy, it offers a fresh way to develop ethical reasoning in students and employees. This book can help address the urgent need for managers and professionals to build the ethical capabilities necessary to tackle grand challenges.


Individual Entrepreneurial Orientation: Scale Development And Validation, Daniel R. Clark, Jeffrey G. Covin, Robert J. Pidduck Jan 2025

Individual Entrepreneurial Orientation: Scale Development And Validation, Daniel R. Clark, Jeffrey G. Covin, Robert J. Pidduck

Management Faculty Publications

Recent research introduced and laid the foundation for a new individual-level entrepreneurial orientation conceptualization (Ind.EO) within the entrepreneurial orientation family of constructs. Building directly from this work, this article theoretically defines a measurement model for the construct and develops and validates a scale. We define and measure disposition-based behavior constructs for autonomy, competitiveness, innovativeness, proactiveness, and risk-taking, thus providing psychometrically validated tools that support research in the burgeoning Ind.EO domain. Scale items are generated deductively from our definitions, and then tested through four data collections with academics, the lay population, entrepreneurs, and business managers. Strong validation data across these multiple …


Provision Cfo: Empowering Strategic Financial Excellence For Small Businesses And Entrepreneurs, Cindra Vang Jan 2025

Provision Cfo: Empowering Strategic Financial Excellence For Small Businesses And Entrepreneurs, Cindra Vang

Doctor of Strategic Leadership (DSL) Capstone Abstracts

Project Overview

ProVision CFO offers strategic financial management solutions tailored to the unique needs of entrepreneurs, small businesses, and rapidly growing organizations. This project aims to equip clients with robust financial strategies and actionable insights necessary for sustainable growth, operational excellence, and long-term success. ProVision CFO provides comprehensive financial guidance including fractional CFO and accounting services.

Project Themes

The ProVision CFO framework encompasses three key components designed to optimize financial performance and organizational effectiveness. Component One—Strategic Clarity: Establishing clear financial goals aligned with organizational vision, mission, and values. Component Two—Financial Optimization: Providing accounting services to streamline financial processes and enhance …