Time to take negotiation seriously

2006 ◽  
Vol 38 (5) ◽  
pp. 238-241
Author(s):  
Steve Gates
Keyword(s):  
Skills Development ◽  
Skills Gap ◽  
Senior Managers ◽  
Bottom Line ◽  
Content Type ◽  
Significant Difference ◽  
The Difference ◽  
Key Staff ◽  
First Time ◽  
Practical Implications

PurposeThe aim of this paper is to provide an overview of the skills needed for successful negotiations. It seeks to identify the benefits of training key staff in negotiations skills, including the difference it can make to a company's bottom line. It also aims to look at the risks to business of not developing these skills.Design/methodology/approachThe paper uses a mixture of case studies, examples, quotes and opinion.FindingsThe paper finds that only 5 per cent of the UK's training budget is spent on negotiations skills development. However, developing negotiation skills makes a significant difference to the performance of all staff, both in internal and external negotiations. Many big companies now appreciate the value of negotiation skills development and are leading the way in developing all staff in this way.Practical implicationsAll businesses should think about investing in negotiation skills development. Otherwise they are at risk of costing their company a significant margin.Originality/valueThis paper looks for the first time at the skills gap in UK businesses in terms of negotiation skills development. It will be of value to anyone involved in internal and external negotiations, including sales and buying teams, Human Resources staff and senior managers and directors. It will be of value in helping them decide how to make the best use of training.

Credit enhancement and bond rating

2017 ◽  
Vol 7 (1) ◽  
pp. 114-130 ◽  
Author(s):  
Yiming Hu ◽  
Ying Yang ◽  
Pengfei Han
Keyword(s):  
Local Government ◽  
Enhancement Effect ◽  
Government Bonds ◽  
Bond Rating ◽  
Content Type ◽  
Credit Enhancement ◽  
Government Financing ◽  
The Difference ◽  
First Time ◽  
Practical Implications

Purpose The purpose of this paper is to examine the difference of credit enhancement of variously secured bonds issued by local government financing platform bond (LGFPB). Design/methodology/approach The approaches to secure the bonds usually include mortgage, collateral, guarantee, etc. Findings Using a sample of LGFPBs issued during the 2007-2013 period, the authors find that all of the approaches to secure the bonds would increase the bond rating and that compounded approaches have a higher credit enhancement effect than single approaches. Among these approaches, the requirement of collateral has the strongest enhancement effect. Moreover, the authors find that the guarantee provided by a state-owned bank or enterprise increases the bond rating more than the guarantee provided by other local government financing platforms. Research limitations/implications The findings in this study suggest that the credit enhancement would be deeply affected by the approach used to secure the bond. Practical implications These results can help the local government make better decisions when issuing bond. Originality/value This study empirically analyzes the different credit enhancement approaches for securing LGPFBs for the first time and contributes to the literature regarding credit ratings of local government bonds.

Do hospitals earn their nonprofit status? Evidence from New Hampshire in 2012

2018 ◽  
Vol 30 (1) ◽  
pp. 69-85
Author(s):  
Catherine Plante ◽  
Linda Ragland
Keyword(s):  
Best Interest ◽  
Charity Care ◽  
Nonprofit Hospitals ◽  
Content Type ◽  
The Difference ◽  
Almost All ◽  
First Time ◽  
True Measure ◽  
Practical Implications ◽  
Hospital Research

Purpose The purpose of this paper is to add to the stream of research examining the difference between the amount of taxes waived for nonprofit hospitals and the amount of charity care they provide. Design/methodology/approach The study is an archival study. Findings Almost all nonprofit hospitals in the sample provide enough charity care to cover their waived taxes. Almost none provide enough charity care at the level that has been proposed to the federal government for hospitals to maintain their nonprofit status. Research limitations/implications As with most hospital research, a limitation is this study’s focus on a single state to control for regulatory differences among states. Practical implications The data on the new Form 990 allow better measurement and transparency regarding a nonprofit hospital’s charity care. For legislators, regulators, and taxpayers, the results from this study raise questions about: the large variations in the amount of charity care provided among nonprofit hospitals and whether enough is being done in terms of providing charity care. Social implications There is great variation among nonprofit hospitals as to the amount of charity care provided. Relying upon a nonprofit hospital’s altruistic nature may not be enough to ensure that they act in the best interest of society. Originality/value This study is unique because, for the first time, a true measure of taxes waived is used in the analysis. All previous research has had to proxy taxes.

scholarly journals How senior managers perpetuate accounting fraud? Lessons for fraud examiners from an instructional case

2014 ◽  
Vol 21 (4) ◽  
pp. 411-423 ◽  
Author(s):  
Mark E. Lokanan
Keyword(s):  
Corporate Culture ◽  
Financial Statement ◽  
Accounting Fraud ◽  
Senior Managers ◽  
Bottom Line ◽  
Content Type ◽  
External Auditors ◽  
Secondary Sources ◽  
Management Personnel ◽  
Practical Implications

Purpose – The purpose of this paper is to examine the risk factors that led to the Livent fraud, and the procedures that need to be taken by responsible parties to carefully investigate and address the incidents of misconduct. Design/methodology/approach – The paper combs through the chronology of events that led to the Livent fraud by looking at both primary and secondary sources. These sources made it possible to examine how the fraud was discovered, and the investigative steps that should have been taken to uncover the fraud. Findings – The findings indicate that a corporate culture which focuses on the bottom line coupled with weak to non-existent internal controls were the key elements that led to the Livent fraud. The findings also illustrate that when faced with declining profits, senior managers will go to any length possible to manipulate and falsify their company’s records. Practical implications – The paper is useful to management personnel and fraud examiners in that it used an actual accounting fraud case to highlight areas more susceptible to fraud and the approach that can be taken to investigate similar cases of misconduct. The paper also highlighted the practical implications for internal and external auditors in detecting and addressing fraud. Originality/value – The study used an accounting fraud case to examine the techniques used by management personnel to produce fraudulent financial statement.

How to support and develop first-time managers?

2015 ◽  
Vol 47 (1) ◽  
pp. 46-50 ◽  
Author(s):  
Dawn Sillett
Keyword(s):  
Design Methodology ◽  
Management Development ◽  
Training And Development ◽  
Development Programs ◽  
Learning And Development ◽  
Senior Managers ◽  
Content Type ◽  
Development Professionals ◽  
First Time ◽  
Practical Implications

Purpose – The purpose of this paper is to explore the challenges faced by first-time managers on their promotion and present suggestions for aiding successful transition. Design/methodology/approach – The paper is based on 15 years’ experience of working with first-time managers and their employers’ organizations, designing and delivering training and development programs in a corporate environment, as well as informal study of research by academic and practising professionals in the management development field. Findings – Newly promoted managers can face daunting challenges when they take on responsibility for managing others, which can adversely affect their own and others’ performance and engagement. Practical implications – The paper provides practical suggestions for supporting first-time managers’ transition to their new role. Originality/value – This paper is of value to HR and learning and development professionals, as well as senior managers who seek practical ways to enhance the development of their first-time managers.

An empirical longitudinal study of adoption of lean management in India

2020 ◽  
Vol 32 (6) ◽  
pp. 1285-1306
Author(s):  
Jayaraman Rajagopalan
Keyword(s):  
Longitudinal Study ◽  
Lean Management ◽  
Bottom Line ◽  
Content Type ◽  
Survey Tool ◽  
Indian Industry ◽  
The Status ◽  
One Year ◽  
First Time ◽  
Practical Implications

PurposeTo identify the factors that need to be addressed by Indian industry to steeply ramp up its production and productivity in the coming years, so as to achieve the goal of the country becoming a 5 trillion dollar economy by 2025.Design/methodology/approachLean Management Leaders in Indian Industry (LMLII), i.e. those companies in India who are well known for having adopted TQM, BE and Lean methods for many years, and achieved success in their business) in Indian industry were selected and surveys were done between 2013 and 2017, to assess the status of LM adoption, by using the LESAT (version 2.0) survey tool. A longitudinal empirical study has been done, over a period of five years, so that the identification of factors is based on a few years’ data rather than a one year, spot-check or snapshot view. A new method, titled the ‘Three Step Reverse Exploratory Factor Analysis Procedure (TSREP)’, has been attempted to identify the ‘root causes’.FindingsLMLII's have improved in their adoption of LM over these years by about 10%. The root causes that can help in further advancement in adoption have been identified and classified under six component factors.Research limitations/implicationsThe identification of LMLII's has been done based on the experience and views of experts in TQM/ BE/ Lean in India. Since this is a first of such study (viz., the term LMLII is being defined and used for the first time), this methodology has been adopted. However, in future, a systematic way to assess the criteria for LMLII's could be designed. Secondly, the sample size of LMLII's needs to be fully representative of the industry.Practical implicationsBy using the results of this study, Indian companies can accelerate their LM adoption programmes, leading to quantum jumps in production and productivity, so as to achieve the 5 trillion USD economy by 2025. The practical implications are immense.Social implicationsSince LM is a bundle of Lean, TQM and BE, companies adopting LM will, due to the inclusion of waste reduction through 5S, JIT, kaizens and continuous improvement, address the Triple Bottom Line (TBL) protocol of the UN. TBL has comprehensive implications on society and environment, climate change and sustainability of business.Originality/valueThis work is original, at least in three ways. First, in the use of the concept of ‘LML’. Second, there is no previous longitudinal study done on Indian industry in LM. Third, the TSREP is being used for the first time. The value of this research is in its findings, in the identification of key factors for future growth and the use of a novel technique for improving upon the accuracy, analytical rigour and legitimacy of the results.

A “Learning from Action” workshop in Japan

2019 ◽  
Vol 40 (2) ◽  
pp. 77-83
Author(s):  
Robert Douglas Hinshelwood ◽  
Luca Mingarelli ◽  
Simona Masnata
Keyword(s):  
Far East ◽  
Opportunity To Learn ◽  
Content Type ◽  
Work Activities ◽  
Defensive Role ◽  
Feedback Data ◽  
Experiential Workshop ◽  
First Time ◽  
Practical Implications

Purpose Many people in severe mentally disturbed states do not use language or other symbolic media well or coherently. Therefore, the non-verbal medium needs to be understood by workers with such people. The “Learning from Action” experiential workshop was developed in order to provide an opportunity to learn about hidden messages in the relationships and roles occurring in activities. In August 2017, a workshop was run for the first time in Japan. The purpose of this paper is to report the experience and dynamics observed by the three consultants, who are here the authors of this paper. Design/methodology/approach After the workshop all the staff and members, including interpreters, were invited to give feedback. Findings Analysis of the feedback data showed certain important dynamics, concerning especially dependence, cultural defences and the defensive role of activity in a multicultural context. Research limitations/implications This is an initial experience to be followed up by later feedback and further workshops. Practical implications Workers awareness of non-verbal communication within the roles of work activities is a training possibility. It faces various resistances including the mental health assumptions of meaninglessness of any communication outside the verbal. Originality/value This is a method of training not widely used even in European countries, and is the first in a country in the far east.

FATCA violation underlies latest US tax and securities fraud charges

2015 ◽  
Vol 16 (1) ◽  
pp. 74-76
Author(s):  
Miriam Fisher ◽  
Brian McManus
Keyword(s):  
Law Enforcement ◽  
Service Providers ◽  
Task Force ◽  
Tax Compliance ◽  
Financial Fraud ◽  
Securities Fraud ◽  
Content Type ◽  
The Impact ◽  
First Time ◽  
Practical Implications

Purpose – To explain the details and implications of a September 9, 2014 federal indictment, US v. Robert Bandfield, the first time a Foreign Account Tax Compliance Act (FATCA) violation has been charged as an “overt act” in furtherance of a tax conspiracy and securities fraud. Design/methodology/approach – Provides background, including the enactment of FATCA and the details of the indictment; describes an undercover investigation conducted by President Obama’s Financial Fraud Enforcement Task Force; and discusses the warnings this indictment sends to the global financial community. Findings – The indictment confirms the coordinated and aggressive tactics US law enforcement is now employing to investigate and prosecute offshore financial fraud. Practical implications – Banks and financial service providers need to be aware of the impact of enhanced US regulatory obligations and implement appropriate compliance measures. These institutions must also remain sensitive to risks presented by unscrupulous customers. Finally, they must be ready to manage appropriately information-gathering and investigatory inquiries originating with US authorities. Originality/value – Practical guidance from experienced tax controversy lawyers.

The response of majority employee-owned firms during the pandemic compared to other firms

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Joseph Blasi ◽  
Douglas Kruse ◽  
Dan Weltmann
Keyword(s):  
Design Methodology ◽  
Employee Ownership ◽  
Social Implications ◽  
Firm Level ◽  
Content Type ◽  
Rutgers University ◽  
Employment Trends ◽  
The Difference ◽  
Industry Membership ◽  
Practical Implications

PurposeThe purpose of this study is to understand how majority employee-owned firms responded to the pandemic compared to firms that were not majority employee-owned. The Employee Ownership Foundation partnered with Rutgers University and the SSRS survey firm to survey ESOP and non-ESOP firms about their responses to the COVID-19 pandemic. A key purpose of the survey was to estimate firm-level changes in employment from mid-January to August (current employment figures were adjusted to August 5 using BLS industry employment trends). The survey also looked at other forms of adjustment and responses to the pandemic as reviewed below. The focus in this study is on the differences between firms that are majority owned by ESOPs and those that are not.Design/methodology/approachThe survey included 247 executives from ESOP Association member companies and 500 executives from an SSRS business panel constructed to be representative of US companies with 50 or more employees. The survey started on August 5 and ended on September 23, 2020.Findings(1) Majority ESOP firms had employment declines from January to August that were on average only one-fourth as large as for other firms. The difference is maintained when controlling for industry membership. (2) Majority ESOP firms were more likely to be declared “essential,” but the lower employment cutbacks among majority ESOP firms remain among essential and non-essential businesses. As essential businesses, majority ESOP firms were more likely receive Paycheck Protection Program or other government pandemic assistance, but both assistance recipients and non-recipients had lower employment cutbacks among majority ESOP firms. (3) The extent of employment cutbacks was higher for non-managers than for managers, but the manager/non-manager gap was higher among other firms than among majority ESOP firms.Research limitations/implicationsThis study supports empirical findings done previously.Practical implicationsThis study suggests to non-EO firms what they can do.Social implicationsThis study suggests strengths of EO firms.Originality/valueA very original and one-of-a-kind dataset.

Flexibility decision pathways in the management of uncertainty in property development: experience from an emerging market

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Timothy Oluwafemi Ayodele ◽  
Abel Olaleye
Keyword(s):  
Emerging Market ◽  
Survey Method ◽  
Property Development ◽  
Content Type ◽  
Significant Difference ◽  
Development Experience ◽  
High Level ◽  
Stratified Analysis ◽  
Management Of Uncertainty ◽  
Practical Implications

Purpose This paper aims to investigate the flexible decision pathways adopted by development advisors in the management of uncertainty in property development. Specifically, the study examines the quantitative techniques adopted by development advisors, the level of adoption of real options analysis (ROA) vis-à-vis the level of adoption of heuristics. Finally, the types of options exercised in property development were analysed. This was with a view to providing information that could mitigate the challenges of risk and uncertainty and increasing investment failure associated with property development in Nigeria, an emerging market. Design/methodology/approach The study adopted a survey method and was conducted on development advisors in property development companies/estate surveying and valuation firms in Nigeria. A total of 195 development advisors participated in the survey. The respondents were required to rate, on a five-point Likert scale, the level of adoption of the quantitative models, heuristics and the types of flexibility exercised during development. The data were analysed using mean rating, one-sample t-test and analysis of variance. Findings The results revealed that there was a preference for the use of traditional techniques, while probabilistic appraisal models and other contemporary methods such as ROA are seldom adopted by development advisors. While there was a significantly high level of adoption of heuristics, the stratified analysis examining the profile of the respondents and the level of adoption of ROA and heuristics suggests that years of experience influenced the level of adoption of both the ROA and heuristics by the development advisors. The analysis of the types of flexibility showed that staging/phasing and changing the initial use/design were the most prevalent flexibility pathways adopted during the development. However, the study found that there was no significant difference concerning the choice of flexibility being adopted by development advisors who used ROA and those who did not. Practical implications The study provides an understanding of the decision pathways adopted by development advisors in an emerging market like Nigeria. Originality/value The paper contributes to studies on decision-making pathways in the management of uncertainty under dynamic conditions by development advisors in emerging markets.

“Never the first time on a patient”: the stakes of high-fidelity simulation for safety training

2018 ◽  
Vol 32 (5) ◽  
pp. 23-25 ◽  
Author(s):  
Lucie Cuvelier
Keyword(s):  
Case Studies ◽  
Design Methodology ◽  
Reading Time ◽  
Safety Training ◽  
High Fidelity ◽  
High Fidelity Simulation ◽  
Content Type ◽  
Pertinent Information ◽  
First Time ◽  
Practical Implications

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings An operative approach is described that is designed to structure the debriefing along three axes. Practical implications The paper provides strategic insights and practical thinking that have influenced some of the world’s leading organizations. Originality/value The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

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