Corporate Financial Strategies for Global Competitiveness

This paper focuses on the role of corporate financial strategies to improve their market valuations and lower their cost of capital. The identification of successful strategies is accomplished within an overall strategic framework. The paper is built on 12 longitudinal case studies from the Nordic countries to illustrate the linkages between business strategy, firm motivation, and various financial strategies.     

Evaluating the Simplified Conjoint Expected Risk Model: Comparing the Use of Objective and Subjective Information

The simplified Conjoint Expected Risk (CER) model by Holtgrave and Weber posits that perceived risk is a linear combination of the subjective judgments of the probabilities of harm, benefit, and status quo, and the expected harm and benefit of an activity. It modifies Luce and Weber's original CER model—that uses objective information to evaluate financial gambles—to accommodate activities such as health/technology activities where values of the model variables are subjective. If the simplified model is a valid modification of the original model, its performance should not be sensitive to the use of subjective information. However, because people may evaluate information differently when objective information is provided to them than when they generate information on their own, the performance of the simplified CER model may not be robust to the source of model-variable information. We compared the use of objective and subjective information, and results indicate that the estimates of the simplified CER model parameters and the proportion of variance in risk judgments accounted for by the model are similar under these two conditions. Thus, the simplified CER model is viable with activities for which harm and benefit information is subjective.     

Cultivate your core competencies

Your core competencies make you much more valuable to your organization. Find out ways to nurture and promote those competencies.     

Competence and Competitive Advantage: Towards a Dynamic Model

Over the last ten years the concept of ‘competence’ has emerged as a central concept for competitive strategy. Several rich theoretical streams have contributed an extensive array of frameworks, definitions and papers using the concept. There is now a need to integrate these many contributions. Indeed, some of the frustration expressed recently by academics may be due to the large volume of conversation and the low level of integration. A concept that is considered so useful that many writers have incorporated it in their work will be of little value if it takes on different meanings for every use. If competence is to be used to explain relationships among variables and to build richer understandings of the roots of competitive advantage, then the field needs to engage in a serious conversation that attempts to focus this concept. Competence needs to be understood in a way that is faithful to its theoretical roots, allows the multiple dimensions that underpin competitive advantage to be meaningfully integrated and is specific enough that meaningful differences can emerge when used as a variable in empirical research. This paper seeks to begin a conversation toward that end by presenting a conceptualization that meets all of these requirements. The paper builds its conceptualization around satisfying the elements of a dynamic model of the relationship between competence and competitive advantage.     

The value circle. A profile of J. Richard Gaintner, MD.

This article describes how the arrival of CEO J. Richard Gaintner, MD, at Shands HealthCare signaled a time for refocusing the organization's direction and helping physicians to cope with the changes buffeting the industry. He saw angst and disenfranchisement, sentiments that characterized not only Shands and the University of Florida Health Science Center, but also the entire establishment of American scientific medicine. Gaintner believes--and continually preaches--that practicing medicine in a cost-effective manner will improve, not harm, the quality of care. His willingness to face reality objectively is perhaps his greatest asset in helping physicians deal with managed care. He conveys heartfelt empathy with the day-to-day conflicts they face. But he does not allow himself the temporary luxury of cynicism, and he refuses to accept negativity and pessimism in others. Rather, he asks that physicians and managers understand the system and develop the capacity to work within it and take responsibility for improving it. Beyond exhorting physicians to be accountable for the success of the enterprise, Gaintner creates mechanisms for meaningful physician participation in enterprise management.     

The changing structure of food retailing in europe: the implications for strategy

European food retailers have increased their scale and scope while concentrating sales into large stores. Strategic implications include the need for scale to compete and organisational relationships to move from supply push to demand pull retailing. Consequences are different for private label and for branded manufacturers, who must respond to the demands of retail supply chains whilst retaining control of product development. Further concentration in both sectors is likely. Consumers are more mobile, but more captive to the retailer in store. Public policy makers are challenged to find new measures of retail power and both allow for innovation and ensure equitable shopping opportunities.     

The declining significance of race among American men during The latter half of the twentieth century

The extent to which racial minority groups face discrimination in the labor market is the subject of considerable debate. Using William J. Wilson's thesis of the declining significance of race as our theoretical context, we provide further empirical evidence about labor market discrimination by investigating wages among African American, American Indian, Chinese American, Hispanic white, Japanese American, and non-Hispanic white men. We find, during the period before the civil rights movement, that a substantively significant wage disadvantage is evident for these minority groups with controls for observed labor force characteristics. In recent data, these net disadvantages are reduced substantially for each of these groups except Hispanics. With the exception of Hispanics, the results support Wilson's thesis.