Fusion Product Planning: A Market Offering Perspective*

Devices that integrate multiple functions together are popular in consumer electronic markets. We describe these multifunction devices as fusion products as they fuse together products that traditionally stand alone in the marketplace. In this article, we investigate the manufacturer's fusion product planning decision, adopting a market offering perspective that allows us to address the design and product portfolio decisions simultaneously. The general approach adopted is to develop and analyze a profit‐maximizing model for a single firm that integrates product substitution effects in identifying an optimal market offering. In the general model, we demonstrate that the product design and portfolio decisions are analytically difficult to characterize because the number of possible portfolios can be extremely large. The managerial insight from a stylized all‐in‐one model and numerical analysis is that the manufacturer should, in most cases, select only a subset of fusion and single‐function products to satisfy the market's multidimension needs. This may explain why the function compositions available in certain product markets are limited. In particular, one of the key factors driving the product portfolio decision is the margin associated with the fusion products. If a single all‐in‐one fusion product has relatively high margins, then this product likely dominates the product portfolio. Also, the congruency of the constituent single‐function products is an important factor. When substitution effects are relatively high (i.e., the product set is more congruent), a portfolio containing a smaller number of products is more likely to be optimal.     

Dividend yield and stability versus performance on the German stock market: a descriptive study

It is often examined in the literature whether the dividend yields of stocks correlate with their total returns. This paper analyzes the effect of dividend yield on return as well as on risk and on performance of stocks and stock portfolios on the German market. Not only the influence of dividend yield but also of dividend stability is subject to our analysis. Furthermore, tax aspects are considered. However, this study should rather be seen as an empirical analysis of the influence of dividends as a capital market anomaly than a theoretical based validation approach. Our data set comprises daily adjusted stock prices and dividend payment data from the German capital market over the period 3 January 2000–31 July 2008. This period was characterized by a high volatility of the stock market. In addition to the existing literature examining mainly the long-term influence of dividend yields, we also want to find out whether stocks with high and stable dividend payments are able to reduce the risk of a stock investment in short time periods characterized by extreme conditions. We use blue chips (DAX), stocks of medium-sized companies (MDAX), and stocks of technology firms (TecDAX). Our findings suggest that stock performance generally improves with an increasing dividend yield, where this result is actually based on risk reduction instead of a higher return. However, this risk reduction diminishes with an increasing degree of diversification.     

Knowledge Accession and Knowledge Acquisition in Strategic Alliances: The Impact of Supplementary and Complementary Dimensions

This paper advances the concepts of knowledge accession and knowledge acquisition in strategic alliances by identifying supplementary and complementary dimensions to these knowledge transfer modes. Complementary knowledge transfer reflects the similarity of knowledge that the partners have and is conducted in pursuit of higher efficiency and productivity to enhance partner firms' existing competitiveness. Supplementary knowledge transfer occurs when partners each possess distinctive core competences and the information that is acquired or accessed increases the business scope of partners. As knowledge accession entails knowledge amalgamation that does not involve organizational learning, costs associated with the transfer process are lower and trust is easier to establish than in the case of knowledge acquisition. The paper reviews the implications of these transfer modes on trust building in alliances and their costs implications and presents a number of propositions for further exploration.     

中国领导力本土化发展研究:现状分析与建议

选取国内8种核心期刊为样本,分析了2000～2009年间所发表的全部领导力论文.依据单一国别领导力本土研究的分类框架,对中国领导力本土的研究现状进行了分析.结果表明,中国领导力的研究仍然处于本土化的初级阶段,即强调对西方领导理论的检验、修订和改良,在构建新颖的东方领导理论方面非常不足.最后,对如何在全球视野下开展中国领导力本土研究提出了具体建议.     

中国本土管理研究与中国传统哲学

中国本土管理研究必须深深地扎根于中国传统哲学之中。中国传统哲学最为本源的基础在于道家,而不在于儒家。以道、阴阳、悟为核心内容,中国传统哲学是关于智慧的哲学,提倡科学与艺术的互动与整合;西方哲学是关于知识的哲学,主张科学与艺术的分离,因此东西方哲学有着根本的差异。但是,正是由于东西方哲学两者之间本质上的差异,双方又可互补,由此可见,中国传统哲学与西方哲学(包括西方科学哲学)是相生相克的阴阳关系。中国传统哲学必需向西方学习,但是中国传统哲学不能放弃自身的特色和优势,绝不能将其所谓西方科学化。中国传统哲学与西方哲学对中国本土管理研究都必要,但两者的重要性是非对称的,中国本土管理研究应以中国传统哲学为主,以西方哲学为辅。     

The Effort-Reward Imbalance model of psychosocial stress at the workplace—a comparison of ERI exposure assessment using two estimation methods

It is not unusual for old data to be used in epidemiological studies. Recently developed instruments for measuring work-related stress did not exist when the data collection was carried out. Therefore, approximate questions are sometimes used. An apparent problem is the lack of validation of proxy questions. The aim of this study was to compare the original questions for measuring Effort-Reward Imbalance (ERI) with approximate questions. The study population corresponded with a subgroup in the WOLF-n (WOrk, Lipids, Fibrinogen–north) cohort study of cardiovascular risk in a working population in the north of Sweden: 655 men and 178 women. The agreement in exposure between the original and the approximate ERI single questions was relatively low throughout, whereas the correlation between the ERI subscales and the ERI ratios was reasonable. The latter agreement between the original and the approximate ERI ratio indicates that the approximate measures might have been useful in the past. Yet, whenever possible the implementation of the original questionnaire in study protocols is recommended since a complete measurement of ERI might help to further improve the internal consistency and the predictive validity of this exposure to effort-reward imbalance.     

Sleep disturbances in shift-workers: A marker for maladaptation syndrome

Abstract

This study aims to examine whether the relationship between overtime and well-being is influenced by the voluntary vs. involuntary (i.e., compulsory) nature of overtime work and by the presence or absence of rewards for overtime. We also explored the prevalence of these types of overtime and how they were related to work and personal characteristics. A survey was conducted among a representative sample of Dutch full-time employees (N=1612). AN(C)OVA was used to compare rewarded and unrewarded, voluntary and involuntary overtime workers on personal and work characteristics, fatigue, and work satisfaction. Most overtime workers were rewarded (62%). About half of the sample (n=814) could be classified as either voluntary or involuntary overtime workers, or as having “mixed reasons” to work overtime. Voluntary and unrewarded overtime workers had a relatively high income and favourable job characteristics. Involuntary overtime work was associated with relatively high fatigue and low satisfaction, especially for involuntary overtime workers without rewards who can be considered a burnout risk group. Voluntary overtime workers were non-fatigued and satisfied, even without rewards. It can be concluded that control over overtime and rewards for overtime are important for well-being. Moderate overtime work may not be a problem if it is done voluntarily. Moreover, the negative effects of compulsory overtime work may be partly offset by fair compensation for the extra work.     

A psychological contract perspective to the link between non-profit organizations' management practices and volunteer sustainability

This study applies the concept of the psychological contract to the relationship between management practices and volunteers. Formalization of the voluntary sector is impacting on volunteers' experiences and may breach the psychological contract from the volunteers' perspective. This mixed method study interviewed 67 volunteers and volunteer coordinators/administrators, and collected mail survey information from 152 volunteer organizations. The transactional management practices of keeping formal records and not paying volunteers out of pocket expenses are negatively associated with volunteer recruitment and retention. Alternatively, publicly recognizing volunteers through a volunteer newsletter supports volunteers' relational expectations and is positively linked to adequate volunteer numbers. Our findings have important implications for the human resource development practices of non-profit organizations in dealing with theirvolunteers: they suggest that the relational expectations of volunteers are animportant aspect of the psychological contract, which could be used by organizations as a framework for developing management practices that fit the volunteer ethos of trust and networks.     

Bayesian Data Analysis of Severe Fatal Accident Risk in the Oil Chain

We analyze the risk of severe fatal accidents causing five or more fatalities and for nine different activities covering the entire oil chain. Included are exploration and extraction, transport by different modes, refining and final end use in power plants, heating or gas stations. The risks are quantified separately for OECD and non‐OECD countries and trends are calculated. Risk is analyzed by employing a Bayesian hierarchical model yielding analytical functions for both frequency (Poisson) and severity distributions (Generalized Pareto) as well as frequency trends. This approach addresses a key problem in risk estimation—namely the scarcity of data resulting in high uncertainties in particular for the risk of extreme events, where the risk is extrapolated beyond the historically most severe accidents. Bayesian data analysis allows the pooling of information from different data sets covering, for example, the different stages of the energy chains or different modes of transportation. In addition, it also inherently delivers a measure of uncertainty. This approach provides a framework, which comprehensively covers risk throughout the oil chain, allowing the allocation of risk in sustainability assessments. It also permits the progressive addition of new data to refine the risk estimates. Frequency, severity, and trends show substantial differences between the activities, emphasizing the need for detailed risk analysis.