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on Business Economics |
| By: | LUIS EDUARDO SOLIS (Instituto de Empresa); ANGEL ANTONIO DIAZ (Instituto de Empresa); OSWALDO LORENZO (Instituto de Empresa) |
| Abstract: | This study aims to gain a better understanding of key business processes. The processes of the firm are analyzed, proposing a classification of eight generic intra-organizational processes, and eleven generic inter-organizational processes, as well as criteria for the determination of the criticality of these processes and key performance indicators. Using these criteria critical intra-organizational and inter-organizational processes are identified in sixteen industrial sectors. Through a better understanding of key processes and network relations enterprises can develop competitive advantages that leverage their survival and well being. |
| Keywords: | Business process, Performance measurement, Inter-organizational, Intra-organizational |
| Date: | 2004–09 |
| URL: | http://d.repec.org/n?u=RePEc:emp:wpaper:wp04-24&r=bec |
| By: | JOSE MANUEL ESTEVES (Instituto de Empresa) |
| Abstract: | Existence of an adequate project champion role has been identified as a critical success factor in Enterprise Resource Planning (ERP) implementation projects. However, the figure of the project champion is not yet quite well understood. Some authors relate it with the project sponsor figure while others relate it with the project manager figure. This paper tries to clarify these concepts. Our research framework is based upon an extensive ERP literature review and a web survey. The findings of this web survey suggest that the adequate project champion role is that of the project sponsor, emerging as a dual-role champion. |
| Keywords: | ERP, Leadership , Roles |
| Date: | 2004–10 |
| URL: | http://d.repec.org/n?u=RePEc:emp:wpaper:wp04-27&r=bec |
| By: | MONIKA HAMORI (Instituto de Empresa) |
| Abstract: | This paper examines the career moves of executives between two different organizations and looks at the characteristics of executives´ employing organizations as a predictor of the success of the moves. The paper uses a proprietary data set of a retained executive search firm that contains information on the career paths of executives in the financial services industry. The results show that the perceived operational excellence of executives´ employing organization has a significant signaling power for other employers and strongly impacts the success of executives´ moves across different organizations. |
| Keywords: | Career management, Organizations, Executives, Finacial services industry, Signaling theory |
| Date: | 2004–11 |
| URL: | http://d.repec.org/n?u=RePEc:emp:wpaper:wp04-32&r=bec |
| By: | JUAN LUIS MARTINEZ (Instituto de Empresa) |
| Abstract: | Reflecting on the question of who is the principal subject of social responsibility in the business sphere, Greenfield sets out a number of common assumptions among practitioners in the field and tries to dismantle them through a critical review of recent literature. Some of his reflections need to be nuanced from an ethical basis and elaborated upon from a practical point of view. Taking as our starting point Greenfield´s conclusion "there is no such thing as business ethics, only ethics of individual business men and women", this article aims to look in more depth at the consequences of regulating personal ethics and referring it to an institution. |
| Keywords: | Business ethics, Corporate social responsability, Strategy |
| Date: | 2005–01 |
| URL: | http://d.repec.org/n?u=RePEc:emp:wpaper:wp05-04&r=bec |
| By: | JUAN CARLOS PASTOR (Instituto de Empresa); MARGARITA MAYO (Instituto de Empresa) |
| Abstract: | This paper examine the role of social networks as mediating factors in the relationship between diversity and work team effectiveness. These effects were tested with a sample of 71 organizational teams. Results show that the degree of diversity in a team influences the density and centralization of the communication network. In turn, network density and centralization affect work team outcomes. Results are discussed in terms of their theoretical significance for network and diversity theory. |
| Date: | 2005–02 |
| URL: | http://d.repec.org/n?u=RePEc:emp:wpaper:wp05-10&r=bec |
| By: | Uwe Cantner; Andreas Nicklisch; Torsten Weiland |
| Abstract: | In an experimental setting, firms in a duopoly market engage in a patent tournament and compete for profit-enhancing product advancements. The firms generate income by matching exogenously defined demand preferences with an appropriately composed product portfolio of their own. Demand preferences are initially unknown and first need to be revealed by an investigation of the possible product variations. The better firms approximate demand preferences, the higher their profits. In the ensuing innovation race, firms interact through information spillovers resulting from the imperfect appropriability of research successes. In the random period of the experiment, the continuity of the search process is disturbed by an exogenous shock that affects both the supply and demand side and again spurs research competition. Firms may henceforth explore an enlarged product space in attempting to match the equally modified demand preferences. In our analysis, we explore the behavioral regularities of agents who are engaged in innovation activities. As a key element we test to what extend relative economic performance exercises a stimulating effect on the implementation of innovation and imitation strategies. |
| Keywords: | Innovation, Imitation, Patent Tournament, Trial and Error Process |
| JEL: | D81 O31 |
| Date: | 2005–07 |
| URL: | http://d.repec.org/n?u=RePEc:esi:discus:2005-14&r=bec |
| By: | Gerlinde Fellner; Matthias Sutter |
| Abstract: | Myopic loss aversion (MLA) has been established as one prominent explanation for the equity premium puzzle. In this paper we address two issues related to the effects of MLA on risky investment decisions. First, we assess the relative impact of feedback frequency and investment flexibility (via the investment horizon) on risky investments. Second, given that we observe higher investments with a longer investment horizon, we examine conditions under which investors might endogenously opt for a longer investment horizon in order to avoid the negative effects of MLA on investments. We find in our experimental study that investment flexibility seems to be at least as relevant as feedback frequency for the effects of myopic loss aversion. When subjects are given the choice to opt for a long or short investment horizon, there is no clear preference for either. Yet, if subjects face a default horizon (either long or short), there is rather little switching from the one to the other horizon, showing that a default might work to attenuate the effects of MLA. However, /if/ subjects switch, they are more often willing to switch from the long to the short horizon than vice versa, suggesting a preference for higher investment flexibility. |
| Keywords: | loss aversion, risk, investment, experiment |
| JEL: | C91 D80 G11 |
| Date: | 2005–07 |
| URL: | http://d.repec.org/n?u=RePEc:esi:discus:2005-15&r=bec |
| By: | Aubert Patrick; Caroli Eve; Roger Muriel |
| Abstract: | This paper investigates the relationships between new technologies, innovative workplace practices and the age structure of the workforce in a static labour demand framework. As a first step, we assume that, in the short run, the only variable factor is the number of workers in different age groups. We then assume, as a second step that the number of workers by age and skill group may vary. The data we use come from several sources: the Changements Organisationnels et Informatisation survey (COI); the Déclarations Annuelles des Données Sociales (DADS) and the Bénéfices Réels Normaux database (BRN). We find evidence that the wage-bill share of older workers is lower in innovative firms. This age bias affects is also evidenced within occupational groups, thus suggesting that skills do not completely protect workers against the labour-market consequences of ageing.. |
| Keywords: | new work practices, technology, older workers, labour demand |
| JEL: | J23 L23 O33 |
| Date: | 2005–06 |
| URL: | http://d.repec.org/n?u=RePEc:lea:leawpi:0506&r=bec |
| By: | Surendra Gera (Industry Canada); Thitima Songsakul (Industry Canada) |
| Abstract: | An important aspect of the global knowledge-based economy is the emergence of a new trend where certain groups of highly-qualified workers have become increasingly mobile internationally. Reaching the goal of being more innovative economy requires that the highly-qualified workforce is of sufficient quantity and quality to support the expansion of innovative activities by firms. Many industrialized countries compete strategically in attracting these workers. It is necessary that the economic policy discussion surrounding the international mobility of skilled labour must take into consideration the wide variety of ways the migration of labour affects the economy. Numerous drivers, policy and non-policy induced, are at work. Attention must now turn towards the links between these movements and the regulating institutions; the performance in the trade of goods and services, FDI, human capital formation and multinational enterprises location, and income convergence among countries. This paper focuses on four key issues: First, it examines the global trends in the international migratory flows of highly qualified persons (HQPs), focusing on APEC economies. Second, it discusses the fundamental non-policy drivers of the increased HQP flows in the new global economy. Third, it reviews the literature on the economic costs and benefits associated with cross-country movement of HQPs and the main factors conditioning these costs and benefits. Finally, it addresses the question of how policy in APEC economies has adjusted or should adjust to the increased international HQP mobility. |
| Keywords: | International migration, Skilled workers, Labour mobility |
| JEL: | F1 F2 |
| Date: | 2005–07–21 |
| URL: | http://d.repec.org/n?u=RePEc:wpa:wuwpit:0507002&r=bec |
| By: | Surendra Gera (Industry Canada); Samuel Laryea (Human Resources Development Canada); Thitima Songsakul (Industry Canada) |
| Abstract: | The international mobility of skilled labour has become a key component of the global knowledge-based economy. Rising levels of foreign direct investment (FDI), international trade, research and development (R&D), technological advances and increased demand for skilled workers seem to have all contributed to an increase in the international mobility of skilled labour. Internationally mobile individuals are often found participating in industries that are largely knowledge-based and global in scope. As a result, it has become increasingly important that the economic policy discussion surrounding the international mobility of skilled labour must take into consideration the wide variety of ways the migration of skilled labour affects the economy. Numerous drivers, policy and non-policy induced, are at work. Attention must now turn towards the links between these movements and the institutions regulating them; the performance in the trade of goods and services; FDI; human capital formation and multinational enterprises location; and income convergence among countries. This paper provides an overview of the literature on four key issues surrounding the international mobility of skilled workers, while identifying potential directions for future research. First, global trends of recent international skilled migratory flows – magnitude and their composition in terms of underlying skills/education of migrants with a focus on Canada-US migratory flows. Second, fundamental (non-policy) drivers of the increased skilled migratory flows, especially among advanced countries. Third, economic costs and benefits associated with cross-country movement of skilled labour and the main factors conditioning these costs and benefits. Fourth, how policy has adjusted or should adjust to increased skilled labour mobility in the global economy? |
| JEL: | F1 F2 |
| Date: | 2005–07–22 |
| URL: | http://d.repec.org/n?u=RePEc:wpa:wuwpit:0507004&r=bec |
| By: | Rocco Huang (University of Amsterdam) |
| Abstract: | Hofstede (1980)’s cross-country psychological survey of IBM employees shows that some countries (societies) are systematically more tolerant of uncertainty, while tolerance of uncertainty is shown by Rigotti et al. (2003)’s model to be essential to the growth of “emerging sectors about which little is known”. We use Durnev, Morck and Yeung (2004)’s methodology to identify these informationally opaque industries. We hypothesize that, countries characterized by high uncertainty aversion (measured by Hofstede’s indicator) will, because of uncertainty aversion, grow disproportionately slower in industrial sectors where information is less available (proxied by lower informativeness of stock prices in the U.S., Durnev et al. 2004). Using the Rajan and Zingales (1998) “differences-in-differences” methodology, in 34 countries and 36 manufacturing industries, we indeed find robust evidence for this pattern of industrial growth. We also show that national uncertainty aversion is not proxying for under-development of financial sector, inadaptability of civil law systems, lower level of economic development, or many other factors. Our results are also robust when we use religious (Protestant/Catholic) composition to instrument for national uncertainty aversion. |
| JEL: | E |
| Date: | 2005–07–19 |
| URL: | http://d.repec.org/n?u=RePEc:wpa:wuwpma:0507020&r=bec |
| By: | Ganguly, Chirantan; Ray, Indrajit |
| Abstract: | In the Crawford-Sobel (uniform, quadratic utility) cheap-talk model we allow for mediation in which the informed agent reports one possible element of a partition to a mediator (a communication device) and then the mediator suggests an action to the uninformed decision-maker according to the probability distribution of the device. We compare the unmediated N-partition equilibrium of the Crawford-Sobel model with a mediated equilibrium involving exactly N elements to report and N actions to choose from. We show that such a mediated equilibrium cannot improve upon the unmediated N-partition equilibrium when the preference divergence parameter is small. |
| Keywords: | Cheap Talk, Mediated Equilibrium |
| JEL: | C72 |
| URL: | http://d.repec.org/n?u=RePEc:bir:birmec:05-08&r=bec |
| By: | Derek Braddon (School of Economics, University of the West of England); Keith Hartley (Centre for Defence Economics, University of York) |
| Abstract: | This paper assesses the UK aerospace industry’s competitiveness. Various statistical indicators are used to measure competitiveness, based on published data at the industry and firm level. The indicators include productivity, output, firm size, development time-scales, labour hoarding, exports and profitability. |
| Keywords: | Aerospace; industry; competitiveness |
| Date: | 2005–07 |
| URL: | http://d.repec.org/n?u=RePEc:uwe:wpaper:0503&r=bec |
| By: | Pieter Bouwen (Université Catholique de Louvain, Belgium) |
| Abstract: | This paper studies the capacity of business interests to contribute to the democratic legitimacy of EU governance through participation in the EU policy-making process. Whereas the unbalanced participation of business as opposed to non-business interests in EU policy-making has been problematized, no research has been conducted regarding the unequal participation of different organizational forms of business interest representation (companies, associations and consultants). Here, first it is argued on the basis of a theory of access that this unequal participation has important repercussions because the different organizational forms do not have the same potential to contribute to the legitimacy of EU governance. The theoretical approach makes it possible to bridge the gap between the EU legitimacy debate and the literature on EU business interest representation by establishing a relationship between the new concept of ‘access goods’ and the existing notions of input/output legitimacy. Second, an empirical investigation of business interest participation is undertaken in order to systematically assess the empirical relevance of the normative propositions and consequently to make inferences about the democratic legitimacy of business interest participation in the EU policy-making process. |
| URL: | http://d.repec.org/n?u=RePEc:mpg:wpaper:2003_8&r=bec |
| By: | ENRIQUE DANS (Instituto de Empresa) |
| Abstract: | (WP 15/03 Clave pdf) Some articles lately have hypothesized about IT being a commodity from which firms cannot extract a true competitive advantage anymore. Therefore, according to those authors, the competitive edge would be now in carefully managing IT to reduce costs and avoid overspending. The author rebates these viewpoints using Swanson´s Tri-Core model and proposes a different way to look IT management in the future in order to avoid the current pitfalls. |
| Keywords: | IS strategic planning, IT evaluation, IT management, Organizational use of ISRL, Productivity |
| Date: | 2003–11 |
| URL: | http://d.repec.org/n?u=RePEc:emp:wpaper:wp03-15&r=bec |
| By: | SALVADOR ARAGON (Instituto de Empresa) |
| Abstract: | (WP 19/03 Clave pdf) This paper presents an exploratory study of IS competencies of business managers in Spain.Following resource-based theory and a knowledge-based view of IS competencies, an extensive review of the literature is conducted to identify a comprehensive list of IS competencies of business managers. In order to validate the business IS competence model, a Delphi study is conducted using 2 panels consisting of general managers and IS managers.The results indicate that IS competencies of business managers involve a fluid mix of both explicit and tacit knowledge components, and suggest that ´core´ IS competencies involve knowledge and experience in the strategic management of IS. |
| Keywords: | IS competencies, Management of IS, Business management, Delphi study, Resource-based theory |
| Date: | 2003–11 |
| URL: | http://d.repec.org/n?u=RePEc:emp:wpaper:wp03-19&r=bec |
| By: | ANGEL ANTONIO DIAZ (Instituto de Empresa); OSWALDO LORENZO (Instituto de Empresa) |
| Abstract: | In ES implementations, process modelling is a critical and often overlooked activity. This paper proposes a framework for process modelling of ES. The four steps method involves: Current Situation Analysis, Business Process Improvements and Requirements, Gap Analysis, and To-be process to develop. Outputs of the methodology are an interdependent set of organizational and system proposed changes, and feedback loops to the ES vendors and to the strategy of the firm. In-depth case studies and extensive literature review provides methodological support. For practitioners, this study provides useful insights into one of the reasons by which companies could be frustrated with ES implementation. |
| Keywords: | E-business, ERP |
| Date: | 2004–01 |
| URL: | http://d.repec.org/n?u=RePEc:emp:wpaper:wp04-01&r=bec |
| By: | JULIO DE CASTRO (Instituto de Empresa) |
| Abstract: | (WP 09/04 Clave pdf) Based on responses from 159 owners-managers in family firms, we examined the association between specific individual characteristics, firm characteristics, and the individual psychosocial outcomes of satisfaction, intentions to exit, and perceived fit. Hierarchical regression analyses indicated higher satisfaction, lower intentions to exit, and higher perceived fit for owner-managers whose dominant decision-making style complemented the levels of formalization in their firms.The results suggested that owner-managers with intuitive decision-making styles were better fitted to the demands corresponding to less structured firm environments than their analytic counterparts. |
| Date: | 2004–04 |
| URL: | http://d.repec.org/n?u=RePEc:emp:wpaper:wp04-09&r=bec |
| By: | OSWALDO LORENZO (Instituto de Empresa) |
| Abstract: | This study has developed a model of ES capabilities to analyze the extent and quality of the use of ES in organizational contexts. The model consists of six general ES capabilities that can be used and deployed by organizations: 1) transaction automation, 2) decision-making process support, 3) monitoring performance, 4) customer service, 5) coordination, and 6) process management automation. The model itself was initially formulated from concepts in IS and ES literature. Then, the model was applied, validated and tuned through an in-depth case study. |
| Keywords: | Enterprise systems, ES capabilities, ES use |
| Date: | 2004–05 |
| URL: | http://d.repec.org/n?u=RePEc:emp:wpaper:wp04-15&r=bec |
| By: | FABRIZIO SALVADOR (Instituto de Empresa) |
| Abstract: | When a firm offers customized products, variants and options may end up confusing the customer, instead of increasing sales. Recent developments in Information and Communication Technology made available a class of software products, often termed as "product configurators", which appears to offer new solutions to support the sale of customized products. The present paper analyzes the underlying principles on which successful sales configurators have been built. In doing so, the paper attempts a formalization of the mechanisms through which a firm´s product assortment can be efficiently and effectively presented to the customer. |
| Keywords: | e-commerce, Product Variety, Product configuration, Customization |
| Date: | 2004–06 |
| URL: | http://d.repec.org/n?u=RePEc:emp:wpaper:wp04-20&r=bec |