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The third and fourth papers shift the focus from the companies' internal dynamics to those concerning the relationships that companies must operate with external stakeholders to implement circular business models. Finally, the fifth and sixth papers further shift the focus on the business model concept towards the business ecosystems, which include all the other stakeholders in the organizational environment that concur to the circular business model operations. Circular business models explicitly link the business model to the product life-cycle (Hansen et al., 2009) and are a vehicle to slow and/or close (additionally also narrowing) resource cycles (Bocken et al., 2016). Through a multiple case study involving three large Swedish manufacturing companies, the paper develops a circular business model implementation framework composed of two parts. [Extracted from the article]

This study finds a bibliometric regularity in the finance literature that the number of authors publishing n papers is about l/nc of those publishing one paper. We find that the finance literature conforms very well to the inverse square law (c = 2) if data are taken from a large collection of journals. When applied to individual finance journals, we find that values of c range from 1.95 to 3.26. We also find that top-rated journals have higher concentrations among their contributors. This implies that the phenomenon "success breeds success" is more common in higher quality publications. [ABSTRACT FROM AUTHOR]

This paper investigates the impact of the COVID‐19 pandemic on U.K. third‐sector (nonprofit organizations and social enterprises) and socially oriented small‐ and medium‐sized enterprises (SMEs), and provides insights regarding their organizational resilience. Using data from the Longitudinal Small Business Survey, the results of an extensive empirical analysis suggest that relative to commercial (for‐profit) SMEs, social enterprises were less likely, and socially oriented SMEs more likely to perceive the pandemic as an obstacle to business success. Third‐sector and socially oriented SMEs were more likely to increase their activities compared to commercial SMEs. Moreover, the COVID‐19 pandemic appears to have had a differential impact on the future plans of third‐sector and socially oriented SMEs relative to commercial SMEs. Third‐sector organizations were less likely to use government‐backed loans, suggesting a need for alternative forms of support or financing to weather economic disruptions. Overall, our analysis suggests a resiliency and versatility among third‐sector and socially oriented SMEs in dealing with unexpected and significant external shocks. [ABSTRACT FROM AUTHOR]

This paper advances a theoretical rationale to explain Bowman's paradox (1980) that firms with high returns can have low risk. Here we draw on the rich body of international management research and argue that global market diversification, which provides firms with three distinct options and opportunities over domestic firms, can explain the high return-low risk profile. We also argue that no strong theoretical rationale exists in support of either related or unrelated product diversification generating such a favorable risk-return profile. By integrating both the product and the global market dimension of diversification into our analyses and by controlling for the industry effect, this paper sheds new light on the relationship between corporate diversification and the risk-return tradeoff. The results of this research, which are based on the diversification experiences of 125 multinationals, reveal the strikingly important, though so far overlooked, role that global market diversification plays in the joint management of corporate risk and return. Global market diversification here reflects both the multiplicity of international market areas in which a firm operates and the distribution pattern of a firm's industries across these multiple areas. [ABSTRACT FROM AUTHOR]

Market failure concepts together with a corporate strategy taxonomy have important implications for the direction of growth of firms and their possible success. This paper discusses the relationship between these concepts and shows how specific types of market failure give rise to specific classes of firms. Arguments are presented why specific types of firms will be more or less successful than others. Empirical research by Rumelt is then cited which supports the themes developed in the paper. [ABSTRACT FROM AUTHOR]

This article presents a response to the paper "Procedural Justice, Strategic Decision Making and the Knowledge Economy," by W.C. Kim and R. Mauborgne. The author focuses on the topic of how to build competitive advantage, which is discussed in Kim and Mauborgne's paper. He says that Kim and Mauborgne measure success in business through the process of how strategic decision making is undertaken. This leads to the building of competitive advantage. He feels that the paper is important because more and more members of management are becoming involved in the process of decision making. The author concludes by agreeing with Kim and Mauborgne regarding procedural justice. They believe not only is increased participation necessary, explanation and expectation management are essential as well.

The 1997 Summer Special Issue of the Strategic Management Journal is introduced by the Editor-in-Chief, Dan Schendel. The Special Issue deals with what Guest Editors, Rebecca Henderson and Will Mitchell call 'reciprocal interactions' among environment, strategy, capabilities and performance. Why study of these reciprocal interactions may be useful to better understanding of performance outcomes is discussed. [ABSTRACT FROM AUTHOR]

This paper reviews the progress of the strategy field towards developing a truly dynamic theory of strategy. It separates the theory of strategy into the causes of superior performance at a given period in time (termed the cross-sectional problem) and the dynamic process by which competitive positions are created (termed the longitudinal problem). The cross-sectional problem is logically prior to a consideration of dynamics, and better understood. The paper then reviews three promising streams of research that address the longitudinal problem. These stilt fall short of exposing the true origins of competitive success. One important category of these origins, the local environment in which a firm is based is described. Many questions remain unanswered, however, and the paper concludes with challenges for future research. [ABSTRACT FROM AUTHOR]

This paper focuses on the appropriateness of a two-factor classification of competitive strategy variables as success producers and failure preventers. Theoretical frameworks which provide static and quasi-dynamic perspectives of the proposed two-factor classification are outlined. An empirical exposition of the success producing and failure preventing properties of marketing strategy variables is presented using the PIMS data. Strategic implications and directions for future research are discussed. [ABSTRACT FROM AUTHOR]

This paper is concerned with the assessment of effectiveness, despite the problems involved in its determination. The conventional approach to assessment is considered first. This is based upon a determination of the success of the planning in achieving its objectives. However, the problem here is that it does not consider the actual nature of the planning. A multidimensional approach is then considered, which attempts to overcome this problem, by measuring effectiveness within the planning system. The paper concludes that there are two types of effectiveness to be measured. However, although it recognizes the value of the conventional approach, the multidimensional approach is only seen to be useful in being an indicator to certain factors. [ABSTRACT FROM AUTHOR]

The paper contains a review and evaluation of empirical and case studies on the performance of whole enterprises. Research from a diverse array of academic disciplines and research traditions is included. The central focus is on identifying factors that influence organizational performance, and discussing implications for future interdisciplinary research and the strategic management of contemporary organizations. [ABSTRACT FROM AUTHOR]

There is manifold literature dealing with co-operative activities of firms. However, no empirical study seems to have investigated the factors leading to malfunctions in co-operation projects in terms of a low likelihood of co-operation, low rate of success, and failed co-operation. Our paper attempts to fill this gap by investigating the possible presence of two problems in co-operation: the lack of intermediation and of reciprocity. Based on data gathered for firms in two German regions and one French region, we find that the success of co-operation projects depends on the perceived importance, rather than on the perceived quality, of intermediate actors. Hence, the major problem for intermediating suitable partners is more related to communication than it is a programmatic issue. Trust and reciprocity in co-operation between firms is found to be relevant ex-post in the sense of being a main determinant of failed co-operation projects. [ABSTRACT FROM AUTHOR]

The article discusses about management regarding the performance variation to the person or organization caused by personality, interpersonal relationships, and the perceptions and attributions of an individual. It focuses on the issues including dispositional traits of an employee which may cultivate negative effects on transformational leadership, perception and its effect on individual and organizational levels, social identity which has a vital role in group or team effectiveness, trust and cooperation, and negative behavior which can be considered as counter-productive behavior. It raises several key point that the managers should consider as they tackle the challenges each time prior to do daily task and for the researchers to ponder as they venture vital solutions to these issues.

The paper discusses how organizations can benefit from applying an enhanced Soft Systems Methodology (SSM) in innovation context. The combined approach is illustrated with an intervention in the innovation department of a multinational company. The aim of the company has been to increase its competitiveness by fostering innovation and questioning the innovation system of the company as well as the innovation project portfolio. Embedded in the SSM, the concept of Enterprise Science has been a useful vehicle to structure the problem situation and to channel the search for possible solutions. Innovation challenges could be pointed out, analysed and resolved in a systemic way. Lessons from practice are presented as well as recommendations for decision makers regarding the application of the approach and an outlook to further studies. Copyright © 2009 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

The empirical success of Real Business Cycle (RBC) models is often judged by their ability to explain the behavior of a multitude of real macroeconomic variables using a single exogenous shock process. This paper shows that in a model with the same basic structure as the bare bones RBC model, monetary, cost-push or preference shocks are equally successful at explaining the behavior of macroeconomic variables. Thus, the empirical success of the RBC model with respect to standard RBC evaluation techniques arises from the basic form of the dynamic stochastic general equilibrium model, not from the specific role of the productivity shock. ( JEL E32, E37) [ABSTRACT FROM AUTHOR]

Previous research on mergers and acquisitions has neglected the issue of speed of postmerger integration by and large. This paper argues that there are benefits and detriments associated with speed of integration. Thus, in some situations speed may be highly beneficial whereas in others it may be harmful to the success of a merger or acquisition. It is argued that the benefits and detriments of speed of integration depend on the magnitude of internal and external relatedness between the merging firms prior to the merger or acquisition. Results from a survey of 232 horizontal mergers and acquisitions show that speed is most beneficial when external relatedness is low and at the same time internal relatedness is high. In contrast, speed is highly detrimental in the case of low internal and high external relatedness. Copyright © 2006 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

This paper examines whether there are efficiencies that benefit issuers and underwriters when a financial intermediary concurrently lends to an issuer while also underwriting its public securities offering. We find issuers, particularly noninvestment-grade issuers for whom informational economies of scope are likely to be large, benefit through lower underwriter fees and discounted loan yield spreads. Underwriters, both commercial banks as well as investment banks, engage in concurrent lending and provide price discounts, albeit in different ways. We find concurrent lending helps underwriters build relationships, increasing the probability of receiving current and future business. [ABSTRACT FROM AUTHOR]

This paper investigates how firms' decisions to outsource or internalize production affect their technological performance. While several popular arguments and some anecdotal evidence suggest a direct association between outsourcing and technological performance, the effects of firms' governance decisions are likely to be contingent upon several specific attributes underlying a given exchange. This paper first demonstrates how standard performance models can improperly suggest a positive relationship between firms' outsourcing decisions and their technological performance. Models that account for firm- and transaction-specific features are then presented, which indicate that neither outsourcing nor internalization per se result in superior performance; rather, a firm's technological performance is contingent upon the alignment between firms' governance decisions and the degree of contractual hazards. [ABSTRACT FROM AUTHOR]

This paper addresses two key questions: (1) what factors influence firms' ability to build alliance capability and enjoy greater alliance success, where firm-level alliance success is measured in two ways: (a) abnormal stock market gains following alliance announcements and (b) managerial assessments of long term alliance performance; and (2) are the two alternate ways of assessing alliance success correlated? We find that firms with greater alliance experience and, more importantly, those that create a dedicated alliance function (with the intent of strategically coordinating alliance activity and capturing/disseminating alliance-related knowledge) realize greater success with alliances. More specifically, firms with a dedicated alliance function achieve greater abnormal stock market gains (average of 1.35%) and report that 63 percent of alliances are successful whereas firms without an alliance function achieve much lower stock market gains (average of 0.18%) and only a 50 percent long-term success rate. We also find a positive correlation between stock market-based measures of alliance success and alliance success measured through managerial assessments. In addition to providing insights into the development of alliance capability among firms, this paper is one of the first to provide empirical support for the efficient markets argument by demonstrating that the initial stock market response to a key event positively correlates to the long-term performance and value of the event. [ABSTRACT FROM AUTHOR]

Business strategy is a complex subject and is usefully examined from several perspectives. This paper applies the lenses of governance and competence to the study of strategy. Both the governance and the competence perspectives have had the benefit of distinguished antecedents. They have also had to deal with tautological reputations. I begin with the governance perspective, with emphasis on the six key moves through which it has been operationalized. I then examine the competence perspective in these same six respects. Governance challenges the competence perspective to apply itself more assiduously to operationalization, including the need to choose and give definition to one or more units of analysis (of which the 'routine' is a promising candidate). The research challenges posed by competence to which governance can and should respond include dynamic transaction costs, learning, and the need to push beyond generic governance to address strategy issues faced by particular firms (with their distinctive strengths and disabilities). A lively research future for these two perspectives, individually and in combination, is projected. [ABSTRACT FROM AUTHOR]

Current models of competitive advantage emphasize economic factors as explanations for a firm's success but ignore sociocognitive factors. This paper integrates economic and cognitive perspectives, and shows how firms and constituents jointly construct the environments in which firms compete. We argue that competitive advantage is a systemic outcome that develops as firms and constituents participate in six processes that entail, not only use and exchange of resources, but also communication about and interpretations of those exchanges. The interpretations that firms and constituents make of competitive interactions affect decisions about how to exchange and use resources. As interpretations and evaluations of a given firm fluctuate, so do the resources the firm has access to and its competitive advantage in the marketplace. The actions and interpretations of constituents and rivals produce the shifting terrain on which competition unfolds. We illustrate these dynamics with a discussion of IBM's changing competitive advantage in the computer industry in the 1980s. [ABSTRACT FROM AUTHOR]

When radical technological change transforms an industry established firms sometimes fail drastically and are displaced by new entrants, yet other times survive and prosper. Drawing upon an unusually rich data set that covers the technological and competitive history of the typesetter industry from 1886 to 1990, this paper uses a combination of quantitative and qualitative analysis to unravel this process of creative destruction. It argues that the ultimate commercial performance of incumbents vs. new entrants is driven by the balance and interaction of three factors: investment, technical capabilities, and appropriability through specialized complementary assets. In this industry, specialized complementary assets played a crucial role in buffering incumbents from the effects of competence destruction, and an analysis that examined investment or technical capabilities in isolation would have led to misleading results. This work thus highlights the importance of considering multiple perspectives when examining the competitive implications of technological change. [ABSTRACT FROM AUTHOR]

In this paper we present a framework for analyzing changes in strategic performance. Traditional measures for comparing the strategic performance across firms or over time have been return on investment (ROI) and its component ratio, return on sales (ROS). We decompose the ROS ratio into four separate ratios that capture the impact of changes in a firm's productivity, price recovery, product mix and capacity utilization on its profitability. These ratios help to highlight the micro sources of strategic success or failure. They can be used to assess changes in the performance of a firm compared to itself over time, or to other firms in its industry group. This framework can also be used to evaluate changes in the dynamic performance of an industry as a whole. We illustrate the use of these ratios with a 4-year analysis of the performance of a large manufacturing company. We also demonstrate how the technique can be applied to an industry with an evaluation of the performance of U.S. telecommunications firms between 1975 and 1987, a period during which the industry experienced a progressive increase in competitive pressure. [ABSTRACT FROM AUTHOR]

This paper reports the results of a study of new ventures which examine the relationships between performance and the experience of a new venture's management team, its choice of competitive strategy, and its use of various cooperative arrangements. The findings of the moderated regression analysis indicate that cooperative arrangements are most beneficial to those new ventures whose management teams possess the most experience. [ABSTRACT FROM AUTHOR]

This paper explores the factors involved in determining the differential performance of firms in bear markets. Bear markets are identified at the industry level by employing the criterion of a 20 percent drop of the industrial value added index over a period of at least 3 years. Twenty-one matched pairs of Dutch firms which have experienced such bear markets (one successful, the other unsuccessful), are analyzed. The dominant finding is that successful firms follow market-oriented strategies, whereas their unsuccessful counterparts are distinguished by their focus on costs. Success, however, is a multifaceted phenomenon. Differences in initial conditions, in other types of strategic measures, in energy levels and in timing are also involved. The findings are related to the literatures on decline, failure, turnaround and transformation. [ABSTRACT FROM AUTHOR]

Mintzberg's (1990) critique of the 'design school' of strategic management is evaluated on two criteria: methodological soundness and factual veracity. The critique is found to be deficient on both criteria. Mintzberg's own proposal for the basic principles of strategic management is critiqued using the same criteria. It is found that the exposition is deficient methodologically and that Mintzberg's descriptive and prescriptive assertions are at variance with facts observable in the current practice of strategic management. The variance is found to be due to several factors: lack of coherence in Mintzberg's presentation; his use of a definition of strategy which is at variance with the current practice of management, his failure to differentiate between prescriptive and descriptive statements; and his failure to define the context for his prescriptions. Using recent empirical research results on strategic success behaviors, Mintzberg's model is placed in a limited but important context in which it is a valid prescription for successful strategic behavior. [ABSTRACT FROM AUTHOR]

The choice of entry mode into a foreign market has a major impact on the success of a firm's international operations. However, the existing literature on the entry mode decision has either presented a list of considerations without identifying underlying constructs, or treated each entry decision in isolation. Here, a unifying framework is developed. This framework identifies three underlying constructs that influence the entry mode decision. These constructs are linked to considerations that have been previously discussed in the literature. It is argued that a firm's choice of entry mode depends on the strategic relationship the firm envisages between operations in different countries. A particular entry decision cannot be viewed in isolation. It must be considered in relation to the overall strategic posture of the firm. Further, the paper argues that different variables often suggest different entry modes, and that resolving these differences involves accepting trade-offs. [ABSTRACT FROM AUTHOR]

This paper evaluates entry and survival rates in a sample of 39 chemical product industries. The analysis focuses on learning-based cost advantages potentially held by incumbent firms. A logit model of entry gives no evidence that entry decisions were sensitive to the cumulative production lead held by incumbents. Entry was facilitated by the fact that for most products, technology was available from a range of sources. A hazard function model reveals that entrant survival rates were unrelated to order of entry or source of process technology. However, survival was adversely affected when the leading incumbent held a large cumulative output advantage or when entrants built plants of sub-optimal .scale. Thus, a large incumbent lead in production experience did not deter new entry but did reduce the entrant's probability of survival. [ABSTRACT FROM AUTHOR]

Current research offers alternative explanations to the 'linkage' between the pattern of diversification and performance. At least four streams of research can be identified. None of these can be considered to be a reliable, predictive theory of successful diversification. They are, at best, partial explanations. The purpose of this paper is to propose an additional 'linkage', conceptual at this stage, that might help our understanding of the crucial connection between diversity and performance. The conceptual argument is intended as a 'supplement' to the current lines of research, rather than as an alternative explanation. [ABSTRACT FROM AUTHOR]

This paper critically examines five rules for making successful acquisitions advocated by Peter Trucker. In an attempt to verify the rules, supporting and non-supporting empirical evidence, opinions and arguments are reviewed. The analysis suggests that the rules are not conclusively supported by current evidence or argument. Adopting these rules does not ensure successful acquisitions and may needlessly limit managers' opportunities for successful acquisitions. [ABSTRACT FROM AUTHOR]

The article integrates the research on Soviet success indicators with the study of indicators for use in properly motivating enterprise or divisional management. It proceeds by assuming that each division manager possesses perfect knowledge of his own division's technology and the market conditions it faces. It shows that a class of performance evaluators studied in the accounting literature is a subclass of success indicators which have been proposed and used by Soviet planners. Moreover, the article specifies how the planning center utilizes the forecasts it receives. It also evaluates both the desirable and undesirable properties of the profit-sharing scheme. Lastly, it suggests a performance evaluator designed to motivate accurate forecasts and efficient behavior for a large class of environments.

Abstract: In this paper, we examine the drivers involved in an alternative business model: cross‐sector social partnerships (CSSPs) between for‐profit, predominantly multinational corporations (MNCs) and nonprofit organizations (NPOs). We explore these cross‐sector social partnerships (CSSPs) from the perspective of these primary stakeholders, examining the questions of power differentials and the definitions and determinants of success. In order more deeply to understand these drivers, we review the evolution of the concept of “value” and the perception of the value that each stakeholder brings to the partnership. We then describe and offer the results of an empirical, qualitative study of 18 CSSPs, where we analyze each partner's representations of success, outcomes sought and distinctions in determinants of value within the partnerships. [ABSTRACT FROM AUTHOR]

A stimulating article by Glick et al. has provoked a number of responses in this journal. We contribute our opinions to this interchange because we think that the situation is not nearly as bleak as Glick et al. and others would have us believe. In order to corroborate our contentions, we report the results of a survey of accomplished organizational scientists that directly addresses a number of the issues over which we and Glick et al. disagree. Overall, we readily acknowledge that making a life in our field is challenging, as are most activities worth doing. However, we are confident that vast opportunities exist for nascent scholars, as well as for those established scholars who continue to direct their efforts toward generating knowledge within our field. Copyright © 2008 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

In an earlier article, we discussed the effects of dissensus and low paradigm development on the lives and scholarly successes of junior scholars. Our analysis painted a somewhat bleak picture, but our advice for moving forward was simple, actionable, and therefore hopeful. Based on the bleak picture that was painted, one particular aspect of our work, career-level evaluation reliability, was recently critiqued. We respond to that critique here. Copyright © 2008 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

This is the first of a two-part paper, which reviews the evolution of the supply management function from the 18th century to 1940. A second paper will examine the continued evolution of supply management from 1940 until the present. The 1830–1940 period in North America was one of tremendous development for purchasing. It started with occasional reference in management texts and, particularly after 1900, saw the evolution of a host of ideas representing the foundation of today's perspective on supply management. At no time did purchasing practitioners and academics see the function as a narrow buying activity. Clearly, our predecessors were well aware of the benefits of integration and would have been comfortable with today's supply chain management precepts. They also recognized value, cost and price analysis, value analysis, purchasing research, talent management, outsourcing the supply function, supplier relationships, strategy and the need for performance measurement. They strived to contribute effectively to organizational goals and strategies, well aware of the potential impact of their actions on organizational success. An understanding of supply's evolution may not only assist today's supply management practitioners and academics in placing current practices and theories in context but also in charting our future. [ABSTRACT FROM AUTHOR]

The main objective of this paper is to illuminate social and cultural preconditions for networking and success in business in an African context. By in-depth studies of small-scale entrepreneurs in the wood business in Tanzania, we find that people belonging to an Asian subculture probably have a better standing for entering and thriving in business, due to group cohesion, mobility, and level of education. Through high-quality social networks, characterized by a high number and variety of relations, certain groups seem to be in a better position to enact their business environment and raise entrepreneurial resources such as motivation and ideas, information, capital, and trust. To reduce social discontent and inter-ethnic and religious conflicts in this area, we suggest that policy measures be taken to enhance levels of education and access to information for all citizens to create a“level playing field” in economic affairs. [ABSTRACT FROM AUTHOR]

In this paper we investigate private equity firm perceptions of sellers' affective deal commitment in buyout transactions. Using a sample of 174 buyouts, we test trust, goal congruence and private equity reputation as potential antecedents of perceived deal commitment. We also examine whether and how different types of sellers, family versus non-family firms, moderate sources of perceived affective deal commitment. In sum, we find evidence that non-financial factors play a role in buyouts, particularly for family firm sellers. [ABSTRACT FROM AUTHOR]

Green product innovation (GPI) is becoming more and more relevant for policy makers, companies and society as a whole. As a result, over the last few years the number of studies on GPI development has increased substantially, thus prompting the need to analyse and synthesize the results of these studies. With this aim, this study reviews the body of knowledge on the topic. In particular, a systematic review of the literature is conducted, guided by three main research questions. Specifically, this paper identifies the antecedents, the outcomes and the success factors for GPI development. 63 studies are included in the review. Results show that many factors drive the development of GPI, both internal and external to the firm. Among internal factors, the most important are the prospect of competitive advantage, cost reduction, market benefits, improved reputation and opportunities for innovation. Among external factors, the most important are environmental regulations - current and/or expected - and market demand. In terms of outcomes, this study provides evidence that the most relevant ones are cost savings, achievement of competitive advantage, increased market share, increased sales, increased turnover, higher profits, better reputation, increased exports and higher productivity. Finally, this study highlights that many factors can influence the successful development of GPI, such as top management commitment, building networks of collaborations as well as enhancing knowledge flows, both within and outside the firm, cross-functional integration and development of resources and capabilities. This study provides important implications for companies, policy makers and scholars. Copyright © 2015 John Wiley & Sons, Ltd and ERP Environment [ABSTRACT FROM AUTHOR]

The Japanese "just-in-time with kanban" technique reduces in-process inventory to absolute minimal levels, in concert with the Japanese belief that inventory is an unnecessary evil. Due to the success of Japanese firms that employ this type of system, American firms would like to import this technique and emulate Japanese successes. But this Japanese success may be attributable not only to the just-in-time with kanban technique but also to the production environment in which the technique is employed. This paper simulates the just-in-time with kanban technique for a multiline, multistage production system in order to determine its adaptability to an American production environment that might include such characteristics as variable processing times, variable master production scheduling, and imbalances between production stages. The results have practical implications for those firms considering adoption of the Japanese technique. [ABSTRACT FROM AUTHOR]

The article presents a response to the article "Do Good Ethics Always Make for Good Business?" from earlier in the issue, by Bernhard Schwab. Schwab's article was written in response to an article by the author of this response. Schwab's article questioned the relationship between ethical behavior and success in business he believed was implied in the initial article. The original author believes there is not always a direct correlation between behaving ethically and positive financial performance. In his original paper, he does not believe he made that claim. He feels that viewpoint is hopelessly naive, but does think that trust and equitable acts do usually lead to business success.

The economic, population ecology and strategic perspectives on firm survival are here complemented by viewing the same phenomenon from the viewpoint of technology evolution as well. The hypothesis tested is that the competitive environment of an industry, and therefore the survival of firms in it, is substantially affected by the evolution of the technology on which it is based. Survival analysis is applied to data from six industries. The results show that by explicitly including technology as a dynamic and strategic variable our understanding of firms' survival potential and success can be enhanced. [ABSTRACT FROM AUTHOR]

This research investigates the characteristics of 354 directors of Britain's largest companies. Three sections of independent variables were analysed: those relating to the economic environ; those relating to the domestic environ—family background and educational experiences; those relating to self-concept. Directors were categorized according to the economic performance of their industries—GOGOs (industries in growth); YOYOs (industries in turbulence); and DODOs (industries in decline). Several differences emerged between the characteristics of directors and the economic success of their industries for which they were strategically influential. [ABSTRACT FROM AUTHOR]

This paper studies a sample of large acquisitions completed between 1971 and 1982. By the end of 1989, acquirers have divested almost 44% of the target companies. We characterize the ex post success of the divested acquisitions and consider 34% to 50% of classified divestitures as unsuccessful. Acquirer returns and total (acquirer and target) returns at the acquisition announcement are significantly lower for unsuccessful divestitures than for successful divestitures and acquisitions not divested. Although diversifying acquisitions are almost four times more likely to be divested than related acquisitions, we do not find strong evidence that diversifying acquisitions are less successful than related ones. [ABSTRACT FROM AUTHOR]

Few studies have moved beyond the dyadic level of an ongoing alliance and examined factors contributing to the success of entering a series of alliances. In this paper we expect biotechnology firms over time to learn from their alliance experience and to develop general alliance capabilities. Specifically, we expect the speed with which they enter into new research alliances, e.g. their alliance formation rate, to be affected by capabilities built up in prior alliances as well as by characteristics of their partners. We use longitudinal event history data for the complete population of US biotechnology firms for 1973–1999 to test four hypotheses about factors affecting the rate of new alliance formation. Our analysis suggests that the speed of entering research alliances is affected by prior experience of the focal firm, but not by partner characteristics. Our findings provide evidence that biotech firms learn how to learn more effectively from multiple research alliances; however, this effect is generalized and not tied to specific characteristics of the alliance partner. [ABSTRACT FROM AUTHOR]

This paper addresses the issue of how relational rents, generated through alliances, are distributed to the participating firms. We argue that rent distribution is influenced by factors affecting both jointly generated common benefits and private benefits gained from the alliance relationship. We draw on four perspectives to explain these various effects. The first three, namely the resource dependence perspective, related resources perspective, and structural holes perspective, essentially highlight the private ‘exploitation’ opportunities that a firm's alliance network presents the focal firm. In contrast, the resource development perspective underscores the private ‘exploration’ benefits a firm potentially derives from its alliance network. Copyright © 2008 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

abstract. Performance in information systems development (ISD) projects can be critical to business success. But, while project performance has been the subject of much debate, there has been little empirical research into its determinants. A survey of IS projects in the UK and New Zealand is analysed to test hypotheses concerning performance in terms of both project completion and budget (time-cost) variances. Subsequently, a secondary analysis of the findings is used to build a more complete empirical model of project performance. The paper helps to develop the theory of IS development project performance and also has significant implications for practice. Discussion of the findings highlights the importance of project team dynamics, risk management, senior management support for strategic projects and user participation in ensuring successful IS project performance. [ABSTRACT FROM AUTHOR]

I study the influence of leadership on organizational performance and worker wellbeing using data from the 2004 and 2011 Workplace Employment Relations Survey (WERS). Our most conservative estimates from fixed effects regressions on a panel of organizations reveal that virtuous leadership is significantly and positively linked to an upbeat assessment of organizational performance, and an increase in worker wellbeing. Specifically, the estimates reveal that an increase in leadership quality by one standard deviation increases organizational performance and worker job satisfaction by 0.27 and 0.73 standard deviations, respectively, while it leads to a fall in worker job anxiety by 0.13 standard deviations. The results support the hypothesis that good leadership is vital for the success of business, including worker wellbeing, which organizational policymakers ought to heed. There is a dearth of empirical evidence on organizational leadership as an institution and its influence on organizational outcomes, which this article aims to address. [ABSTRACT FROM AUTHOR]

This note addresses the question of which commodities it is correct to tax when an external diseconomy is present. We comment on and extend Sally Holterman's recent discussion of this question (Holterman, 1976). She proposes a scheme to decentralize the optimal output of an externality by taxing not the output of the externality, but the use of other goods by the firm producing the externality. We point out that in her first example the scheme fails because all goods have zero prices after tax. However in her second example, involving a "joint product" externality, the scheme is successful. Success seems to depend on some rigidity in the production choices of the firm. We pinpoint this by stating a condition of the firm's technology which is necessary and sufficient for zero taxation of the firm's output of the externality to be compatible with optimality. The condition ensures that it is not possible to increase the output of the externality by varying the use of some particular input if the levels of all other inputs and outputs are held constant.
Throughout, we use the notation of Holterman's paper to which the reader is referred for details of the model and discussion of other issues in the area. [ABSTRACT FROM AUTHOR]

This paper claims that organizational cognitions are manifested as argumentation. Such argumentation can be represented as organizational construct systems (systems of constructs shared by important organization members). Such organizational construct systems enable us to detect structural features of an organization's cognition which indicate its chances of survival or failure. [ABSTRACT FROM AUTHOR]

Food loss and waste have generated environmental and social impacts around the world. One way to address this problem is to make the food supply chain more efficient through novel solutions to food distribution. A new sustainable business model called "digital business platforms for food waste reduction" is emerging to simplify the transaction and donation of food close to the expiration date, preventing its disposal and incineration. Based on multiple case studies, this research sought to answer: How do business users perceive value of digital platforms for food waste reduction? The results demonstrated that the success of a sustainable business model innovation needs to consider the user perception of value. The study reveals new sources of economic and strategic benefits and sacrifices that influence the users' adherence to digital platforms. [ABSTRACT FROM AUTHOR]