Why an MBA?

As physicians move into medical management, leaving clinical practice behind to play a major role in managing physician performance and clinical processes, they are having to deal in the business world. Physician executives are donning the pinstripe suit instead of the white coat, and adding a business acumen to their clinical skills. Many have opted to pursue executive MBA programs to learn the business competencies they need to manage health care organizations. This article summarizes the educational opportunities available in executive MBA programs and discusses the value of business training for aspiring physician executives.     

Is Safe Production an Oxymoron?

This research examines how organizations simultaneously manage their operations and occupational health and safety. Although both safety and operations scholars conduct research in the same operational settings, they have reached different, yet untested, conclusions about the relationship between creating a safe workplace and creating a productive workplace. The results from a series of 10 case studies show that it is possible to create safe and productive workplaces, but that many facilities fail at this task because of problems associated with the culture management creates and the practices management adopts.     

Fired? Here's an exit strategy

Who gets fired in a boom job market? People are fired more often for things they failed to do than for mistakes they made. The new rules of engagement are: There is no probationary period; resistance to technology is a quick ticket out; a lack of emotional commitment to the role you're hired to play is usually fatal; personality defects that keep others from producing are not tolerated. The most common reason for being fired, however, is lack of fit. Whether you're laid off or fired, don't ask for explanations. The fact is, the people with the power to get rid of you don't want you to stay. What matters is maximizing what they'll do for you on departure. To get the most favorable terms with the least financial and ego damage, here's a game plan: (1) Get a favorable reference--in writing--from your boss; (2) gather work samples and good performance appraisals you've received; (3) negotiate for as much severance pay as possible; (4) negotiate for outplacement assistance; (5) gather contact names from co-workers; and (6) leave in style.     

Technological Discontinuities: Is Co-operation an Option?

At times of discontinuous technological change co-operation represents a viable strategy for both incumbents and new-entrants, provided that the choice of co-operation is consistent with the firm’s business strategy (market-pull and generalist vs. technology-push and specialist) and with its degree of organizational and technological flexibility. A clear understanding of these two elements constitutes a necessary managerial pre-requisite for an effective co-operative strategy. Evidence from the UK fibre-optics industry suggests that managers can choose between two ideal types of co-operation. On the one hand, structured co-operation involves highly engineered partnerships at the inter-organizational level designed to gain control over, or access to, the commercialisation of the new technology for standard applications in the wider market; on the other hand, unstructured co-operation relies on informal relationships between individuals in separate organizations, with the intention of sustaining the development of innovative applications of the new technology for specialist market niches. Being a new-entrant or an incumbent does not necessarily explain the type of co-operation adopted - but there is evidence that market-pull, generalist strategies and lower levels of technological and organizational flexibility are associated with structured co-operation, whereas technology-push, specialist strategies and higher levels of flexibility combine with co-operative strategies of the unstructured type.     

Is there an interim in your future?

Find out why the trend toward hiring interim VPMAs and CMOs is growing and learn how three interims handled their posts.     

Lust an der Macht – Frauen in Organisationen

Storyline and analysis of the film “The Devil Wears Prada” provide vivid scenes to derive reflections on organisational culture in globalised companies and women in chief positions. Women come into conflict with leading the company successfully, the dependence on efficient – female – staff and the image as a woman. The article illustrates, how influences of the company’s products fashion und fashion market have a normative effect, especially on female staff members. Theories of organisational culture, careers of women and findings of gender research are shown in connection with complex strategies of women in their determination to succeed, to self-realization and the pressure to adapt oneself. This involves reflected perspectives to leave clichés of gender and to reinforce organisational and personal potentials.     

Could diamonds become an investor’s best friend?

Currently, the role of diamonds in the global financial system is under intense discussion in the financial media because individual investors and portfolio managers have begun to consider them as potential investment assets. To address the growing interest in diamonds, this article examines the historical performance of investments in various diamond quality grades. Furthermore, it investigates their relation to stock market and currency risk. Specifically, we focus on two important practical investment questions: Can diamonds function as a hedge or a safe haven against stock market volatility or fluctuations of the US dollar? Can diamonds be regarded as effective diversifiers in a stock or a currency portfolio context? Key findings are as follows: (1) The investment performance of diamonds is lower than the one of gold and silver. (2) Diamonds have only acted as a weak hedge and a weak safe haven against stock market downturns and currency risk associated with the US dollar. (3) Within global stock and currency portfolios, 1.0 carat fine diamonds show valuable diversification potential in that they can increase portfolio performance to an economically significant extent. Interestingly, this final result is fairly robust to the choice of performance measure.     

Towards an adapted lean system – a push-pull manufacturing strategy

Abstract

The direct transplantation or imitation of lean production has led to difficulties of applying a number of lean principles and practices. Thus diffusion of one of the main lean principles, just in time production, which refers to producing only “what is really needed, when it is needed, and in the amount needed”, seems to be limited. To date, some of the these companies produce more than their customers really need. This method of production enables them not only to amortize the high changeover costs over a large number of products, but also to benefit from commercial opportunities. However these companies are exposed to financial losses related to storage costs and risks of non-sale. To provide decision elements for determining the best production strategy, we have developed a model for calculating the optimal quantity to be produced. Moreover, we suggest using a fuzzy aggregation system to optimise the consideration of the risk of non-sale. This new approach defines the limits to not be exceed by taking into consideration the drawbacks linked to the risks of non-sale.     

Is HRD in need of an ethics of care?

Human Resource Development (HRD) operates within competitive global environments and the changing expectations of societal moral values, which can be in conflict with organizational values, performance, and profit. These are underpinned by the unquestioning acceptance and ‘orthodoxy’ of free‐market economics, legalism, and codes of conduct that result in a lack of ethical analysis within HRD practice. In response to the forgoing, it will be argued that the ethics of care that espouses the values of human relationships, empathy, dignity, and respect is a legitimate approach to free-market lead ethical rule-based rationality that is often presented as the de facto position for HRD professional practice. It presents the ethical debates in which HRD operates within, before arguing for the ethics of care. Three case examples from practice are offered illustrating how HRD practice might respond through the lens of an ethics of care. Reflections and implications for HRD in the form of objections and responses are considered. It concludes that HRD professionals are faced with many difficulties when making decisions, and that the ethics of care offer is an alternative perspective for HRD practitioners.     

Thinking about a more sustainable business — an Indicators approach

TXU Europe is one of the leading integrated energy companies in the UK and a fast-growing player in the deregulated energy markets of continental Europe. Its services include electricity generation, energy trading, electricity distribution, and electricity and natural gas marketing. Formerly known as Eastern Group plc, TXU Europe is the European arm of global energy company TXU, which acquired Eastern in 1998 for £4.45 billion. At TXU Europe, we believe that sustainable development is about achieving economic growth — in the form of better living standards for all — while protecting and, where possible, enhancing the environment. This approach does not exclude business development and profit, but rather guides it along a route of environmental protection and social responsibility.     

Toward an understanding of consumers’ perceptions of food labels

This study examines the factors that influence consumers’ perceptions or beliefs about food labels. The results indicate that health and diet related attitudes, special diet status, perceived importance of product attributes like nutrition and ease of preparation, race, gender, income, and body mass index are important factors affecting consumers’ perceptions and beliefs about label use. Understanding the type of consumers who have these perceptions and beliefs as well as the factors that influence these beliefs and perceptions is crucial for designing effective marketing and nutrition education campaigns.     

Facets of an Assignment Problem with 0–1 Side Constraint

We show that the problem of finding a perfect matching satisfying a single equality constraint with a 0–1 coefficients in an n × n incomplete bipartite graph, polynomially reduces to a special case of the same peoblem called the partitioned case. Finding a solution matching for the partitioned case in the incomlpete bipartite graph, is equivalent to minimizing a partial sum of the variables over = the convex hull of incidence vectors of solution matchings for the partitioned case in the complete bipartite graph. An important strategy to solve this minimization problem is to develop a polyhedral characterization of . Towards this effort, we present two large classes of valid inequalities for , which are proved to be facet inducing using a facet lifting scheme.     

Customer–supplier relationship management in an intelligent supply chain network

Outsourcing is leading to more and more complex industrial organisations. This can be attributed to the fact that several decision centres interact. As a consequence, changes in customer–supplier relationships can be noticed. In recent years, these relations have strongly evolved to lead to better internal management of each partner and a better general performance to satisfy customers. These evolutions created a new approach to the relationship between companies, called ‘industrial partnership’, in the form of a network. Networks induce a need at customer–supplier relation control level. The contribution and participation of each of the partners are thus fundamental to make supply chain management (SCM) a successful project. The control system of each actor partner must thus be adaptable enough to satisfy the production requirements. Our contribution to the improvement of customer–supplier relationship is a decentralised self-organised control model based on the concept of holon. In this model, the decision system manages a group of actors’ operations who are in a partnership. In this paper in particular a process for the evaluation of the suppliers network is discussed.     

Will a Risk-averse Decision Maker Ever Really Prefer an Unfair Gamble?*

Prakash, Chang, Hamid, and Smyser (1996) purport to show that with sufficient preference for positive skewness, risk-averse managers might elect to engage in unfair gambles. Their “proof'’of the impossible assumes the existence of a differentiable risk-preference function that satisfies certain assumptions about the first three derivatives. The fundamental flaw in their argument is that no differentiable function exists for which risk aversion and the participation in an unfair gamble are compatible.