The overlooked influence of personality, idiosyncrasy and eccentricity in corporate mergers and acquisitions

2017 ◽  
Vol 23 (1) ◽  
pp. 7-31 ◽  
Author(s):  
Kathleen Marshall Park ◽  
Anthony M. Gould
Keyword(s):  
Corporate Strategy ◽  
A Priori ◽  
Inductive Reasoning ◽  
Share Price ◽  
Management Decision ◽  
Historical Sources ◽  
Content Type ◽  
Management Decision Making ◽  
Corporate Mergers And Acquisitions ◽  
Corporate Personality

Purpose Merger waves have typically been viewed through the prism of either corporate strategy or macro-economics. This paper aims to broaden debate about factors that cause – or are associated with – mergers/merger waves over a 120-year period. It ascribes “personalities” to six distinct waves and draws an overarching conclusion about how merger architects are viewed. Design/methodology/approach Databases and interviews are used to piece together detail about CEOs associated with six distinct and recognized merger-waves during a 120-year focal period. The study establishes and defends, a priori, principles for interrogating data to get a sense of each wave-era’s corporate personality/idiosyncrasy. For each era, two exemplar CEO-profiles are presented and – through inductive-reasoning – held out as representative. Findings Distinct personalities are associated with six merger waves. Each wave is given a summary anthropomorphic description which conveys a sense that it may be viewed as the non-rationale expression of aggregate and historically distinct CEO behavior within a circumscribed timeframe. Research limitations/implications The work’s key limitation – explicitly acknowledged – is that it amassed data/evidence from disparate historical sources. However, the authors have developed and defended principles for addressing this concern. Practical implications Improved investment analyses, in particular. The work prefigures formal establishment of a new variable-set impacting share-price prediction. Social implications The paper offers a perspective on how psychological/personality-related variables impact management decision-making, creating something of a bridge between mostly non-overlapping research disciplines. Originality/value The paper broadens debate about how and why merger waves occur. It removes the exclusive analysis of merger waves from the hands of economic historians and strategic management theorists.

A proposed grading system for arteriovenous malformations

1986 ◽  
Vol 65 (4) ◽  
pp. 476-483 ◽  
Author(s):  
Robert F. Spetzler ◽  
Neil A. Martin
Keyword(s):  
Venous Drainage ◽  
Neurological Complications ◽  
Management Decision ◽  
Grading System ◽  
Content Type ◽  
Treatment Techniques ◽  
Clinical Series ◽  
Management Decision Making ◽  
Eloquent Cortex ◽  
Fine Print

✓ An important factor in making a recommendation for treatment of a patient with arteriovenous malformation (AVM) is to estimate the risk of surgery for that patient. A simple, broadly applicable grading system that is designed to predict the risk of morbidity and mortality attending the operative treatment of specific AVM's is proposed. The lesion is graded on the basis of size, pattern of venous drainage, and neurological eloquence of adjacent brain. All AVM's fall into one of six grades. Grade I malformations are small, superficial, and located in non-eloquent cortex; Grade V lesions are large, deep, and situated in neurologically critical areas; and Grade VI lesions are essentially inoperable AVM's. Retrospective application of this grading scheme to a series of surgically excised AVM's has demonstrated its correlation with the incidence of postoperative neurological complications. The application of a standardized grading scheme will enable a comparison of results between various clinical series and between different treatment techniques, and will assist in the process of management decision-making.

Theory of value co-creation: a systematic literature review

2014 ◽  
Vol 24 (6) ◽  
pp. 643-683 ◽  
Author(s):  
Marco Galvagno ◽  
Daniele Dalli
Keyword(s):  
Management Decision ◽  
Content Type ◽  
The Past ◽  
Theoretical Perspectives ◽  
Emerging Trends ◽  
Building Management ◽  
Innovation And Technology ◽  
Management Decision Making ◽  
Theory Of Value ◽  
Science Innovation

Purpose – The purpose of this paper is to summarize and classify extant research and to better understand the past, present, and future state of the theory of value co-creation. Its main objectives are: to identify the different theoretical perspectives and research streams that characterize and define the co-creation literature, and to highlight the connections between them; to look for emerging trends and gaps in the literature by comparing the most recent papers with those representing the field's core. Design/methodology/approach – The paper relies on bibliometric data: co-citation techniques were employed to select, analyze, and interpret citation patterns within the co-creation literature. Findings – The paper identified two main clusters, as well as specific research streams and common themes, representing scholarly journals’ publications on co-creation over the past years. These research streams and themes apply three different theoretical perspectives: service science, innovation and technology management, and marketing and consumer research. Data from the most recent publications has been used to verify if and how the original streams and themes are reflected in the contemporary debate. Research limitations/implications – Inevitably, the findings of the analysis have limitations related to the research design, the databases, and the applied bibliometric methods. Practical implications – From a practical perspective, the research impacts on theory building, management decision making, and teaching. Originality/value – This study depicts the remarkable development of the literature on co-creation and shows the latent structure underlying its different research streams. To the best knowledge, this study is the first to determine co-citation frequencies from both the SSCI and Scopus databases.

scholarly journals Manager perceptions of big data reliability in hotel revenue management decision making

2019 ◽  
Vol 36 (1) ◽  
pp. 25-39 ◽  
Author(s):  
David Egan ◽  
Natalie Claire Haynes
Keyword(s):  
Decision Making ◽  
Big Data ◽  
Revenue Management ◽  
Management Decision ◽  
Local Market ◽  
Data Systems ◽  
Local Data ◽  
Content Type ◽  
User Input ◽  
Management Decision Making

PurposeThe purpose of this paper is to investigate the perceptions that managers have of the value and reliability of using big data to make hotel revenue management and pricing decisions.Design/methodology/approachA three-stage iterative thematic analysis technique based on the approaches of Braun and Clarke (2006) and Nowell et al. (2017) and using different research instruments to collect and analyse qualitative data at each stage was used to develop an explanatory framework.FindingsWhilst big data-driven automated revenue systems are technically capable of making pricing and inventory decisions without user input, the findings here show that the reality is that managers still interact with every stage of the revenue and pricing process from data collection to the implementation of price changes. They believe that their personal insights are as valid as big data in increasing the reliability of the decision-making process. This is driven primarily by a lack of trust on the behalf of managers in the ability of the big data systems to understand and interpret local market and customer dynamics.Practical implicationsThe less a manager believes in the ability of those systems to interpret these data, the more they perceive gut instinct to increase the reliability of their decision making and the less they conduct an analysis of the statistical data provided by the systems. This provides a clear message that there appears to be a need for automated revenue systems to be flexible enough for managers to import the local data, information and knowledge that they believe leads to revenue growth.Originality/valueThere is currently little research explicitly investigating the role of big data in decision making within hotel revenue management and certainly even less focussing on decision making at property level and the perceptions of managers of the value of big data in increasing the reliability of revenue and pricing decision making.

scholarly journals Big data and dynamic capabilities: a bibliometric analysis and systematic literature review

2019 ◽  
Vol 57 (8) ◽  
pp. 2052-2068 ◽  
Author(s):  
Riccardo Rialti ◽  
Giacomo Marzi ◽  
Cristiano Ciappei ◽  
Donatella Busso
Keyword(s):  
Big Data ◽  
Literature Review ◽  
Bibliometric Analysis ◽  
Systematic Literature Review ◽  
Dynamic Capabilities ◽  
Process Management ◽  
Big Data Analytics ◽  
Management Decision ◽  
Content Type ◽  
Management Decision Making

Purpose Recently, several manuscripts about the effects of big data on organizations used dynamic capabilities as their main theoretical approach. However, these manuscripts still lack systematization. Consequently, the purpose of this paper is to systematize the literature on big data and dynamic capabilities. Design/methodology/approach A bibliometric analysis was performed on 170 manuscripts extracted from the Clarivate Analytics Web of Science Core Collection database. The bibliometric analysis was integrated with a literature review. Findings The bibliometric analysis revealed four clusters of papers on big data and dynamic capabilities: big data and supply chain management, knowledge management, decision making, business process management and big data analytics. The systematic literature review helped to clarify each clusters’ content. Originality/value To the authors’ best knowledge, minimal attention has been paid to systematizing the literature on big data and dynamic capabilities.

scholarly journals The company in society: when corporate responsibility transforms strategy

2018 ◽  
Vol 39 (4) ◽  
pp. 11-18 ◽  
Author(s):  
Sonja Lahtinen ◽  
Hannu Kuusela ◽  
Mika Yrjölä
Keyword(s):  
Business Models ◽  
Corporate Strategy ◽  
A Priori ◽  
Strategic Decision ◽  
Illustrative Case ◽  
Content Type ◽  
Case Examples ◽  
Strategic Initiatives ◽  
Strategic Changes

Purpose This study aims to identify and analyze the different roles corporate social responsibility (CSR) can play in corporate strategy. By acknowledging that one of the biggest challenges for companies in committing to sustainability is the strategy work, the authors outline specific strategic initiatives to achieve these roles and the strategic outcomes that will follow such initiatives. Design/methodology/approach Four illustrative case examples show how companies are recasting the role of CSR. The new CSR roles are characterized through two strategic dimensions: an inside-out (firm-oriented) vs outside-in (market-oriented) orientation and an emphasis on leveraging vs an emphasis on prospecting activities. Findings The findings show that to realize the opportunities of CSR for business, the environment and society at large, the role of CSR in the boardroom must be reconfigured. By recasting its role, CSR can become a driver for the strategy process and a transformative force generating strategic changes. Practical implications This paper aims to encourage top executives to take a proactive stance toward responsibility, recognize the new roles and potential impact that CSR can have in corporate strategy and assist strategic decision-making regarding CSR. Originality/value The paper aims to move beyond integrating sustainability into existing strategies and business models by demonstrating how sustainability can also inspire strategic changes a priori when the role of CSR is recast in companies. By viewing CSR as a driver of corporate strategy and strategic initiatives, the authors suggest that besides helping the environment, the community and society, CSR can take care of corporate strategy.

Loyalty card adoption in SME retailers: the impact upon marketing management

2015 ◽  
Vol 49 (3/4) ◽  
pp. 467-490 ◽  
Author(s):  
Karise Hutchinson ◽  
Lisa Victoria Donnell ◽  
Audrey Gilmore ◽  
Andrea Reid
Keyword(s):  
Decision Making ◽  
Current Knowledge ◽  
Marketing Management ◽  
Management Decision ◽  
Adoption Process ◽  
Longitudinal Case Study ◽  
Content Type ◽  
Management Decision Making ◽  
The Impact ◽  
Loyalty Card

Purpose – The purpose of this paper is to understand how small to medium-sized enterprise (SME) retailers adopt and implement a loyalty card programme as a marketing management decision-making tool. Design/methodology/approach – A qualitative and longitudinal case study research design is adopted. Data were collected from multiple sources, incorporating semi-structured interviews and analysis of company documents and observation within a retail SME. Findings – The findings presented focus on the loyalty card adoption process to reflect both the organisational issues and impact upon marketing management decision-making. Research limitations/implications – This research is restricted to one region within the UK, investigating loyalty card adoption within a specific industry sector. Practical implications – SME retailers operate in an industry environment whereby there is a competitive demand for loyalty card programmes. SME retailers need to carefully consider how to match the firm’s characteristics with customer relationship management (CRM) operational requirements as highlighted in this case. Originality/value – The evidence presented extends current knowledge of retail loyalty card programmes beyond the context of large organisations to encompass SMEs. The study also illustrates the value of a structured, formal CRM system to help SME retailers compete in a complex, competitive and omni-channel marketplace, adding new insights into the retail literature.

Three perspectives on evidence-based management: rank, fit, variety

2018 ◽  
Vol 56 (10) ◽  
pp. 2085-2100 ◽  
Author(s):  
Peter F. Martelli ◽  
Tuna Cem Hayirli
Keyword(s):  
Decision Making ◽  
Science And Technology Studies ◽  
Management Decision ◽  
Evidence Based ◽  
Managerial Decision ◽  
Content Type ◽  
Rigorous Research ◽  
Central Notion ◽  
Management Decision Making ◽  
Cybernetic Theory

Purpose The debate on evidence-based management (EBMgt) has reached an impasse. The persistence of meaningful critiques highlights challenges embedded in the current frameworks. The field needs to consider new conceptual paths that appreciate these critiques, but move beyond them. The paper aims to discuss this issue. Design/methodology/approach This paper unpacks the concept of finding the “best available evidence,” which remains a central notion across definitions of EBMgt. For each element, it considers relevant theory and offers recommendations, concluding with a discussion of “bestness” as interpreted across three key dynamics – rank, fit, and variety. Findings The paper reinforces that EBMgt is a social technology, and draws on cybernetic theory to argue that the “best” evidence is produced not by rank or fit, but by variety. Through variety, EBMgt more readily captures the contextual, political, and relational aspects embedded in management decision making. Research limitations/implications While systematic reviews and empirical barriers remain important, more rigorous research evidence and larger catalogues of contingency factors are themselves insufficient to solve underlying sociopolitical concerns. Likewise, current critiques could benefit from theoretical bridges that not only reinforce learning and sensemaking in real organizations, but also build on the spirit of the project and progress made towards better managerial decision making. Originality/value The distinctive contribution of this paper is to offer a new lens on EBMgt drawing from cybernetic theory and science and technology studies. By proposing the theoretical frame of variety, it offers potential to resolve the impasse between those for and against EBMgt.

Decision‐making training in local government emergency management

2012 ◽  
Vol 1 (2) ◽  
pp. 159-174 ◽  
Author(s):  
Helen Sinclair ◽  
Emma E.H. Doyle ◽  
David M. Johnston ◽  
Douglas Paton
Keyword(s):  
Decision Making ◽  
Local Government ◽  
Emergency Management ◽  
Management Decision ◽  
Content Type ◽  
Emergency Operations ◽  
Emergency Managers ◽  
Decision Making Styles ◽  
Management Decision Making ◽  
Survey Approach

PurposeThe purpose of this paper is to contribute information and recommendations that could better equip emergency managers to prepare for and respond to emergencies and disasters, with a focus on improving their decision‐making capabilities during response.Design/methodology/approachA questionnaire‐based survey approach was used in this research and 48 different local government organisations participated. These results were examined in conjunction with contemporary emergency management decision‐making literature. A combination of closed and open ended questions was used, enabling qualitative and quantitative analysis.FindingsResults suggest that while there is information available about decision making, not all emergency managers are aware of the existence of this information or understand its relevance to emergency management. It is likely that those who did have a comprehensive understanding of decision making had gained this knowledge through non‐emergency management‐related courses. In total, 71 percent of participants said they would be interested in receiving more support regarding training and practice for decision making in Emergency Operations Centres.Originality/valueA wide body of research has investigated decision‐making styles. However, this paper shows that in the local government emergency management sector there is little awareness of the understanding of the different decision‐making approaches. In addition, for those organisations surveyed, there is a great desire for further training and practice in decision making. It is thus vital that this need is addressed, to further improve the future response of these organisations to emergencies.

Adoption of renewable energy technologies (RETs) using a mixed-method approach

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Nicholas Morgan Geddes
Keyword(s):  
Decision Making ◽  
Diffusion Of Innovations ◽  
Mixed Methodology ◽  
Management Decision ◽  
Content Type ◽  
Study Approach ◽  
Energy Technologies ◽  
Water Pumping ◽  
Management Decision Making

Purpose This paper aims to propose that the socio-technical perspective is under-represented when appraising the adoption potential of renewable energy technologies (RETs) in late-industrialising countries and that this results in under-adoption. It also aims to identify a methodological approach that allows the socio-technical perspective to be integrated into management decision-making, alongside the more typical economic appraisal methodology. Design/methodology/approach A case study and novel mixed-methodology approach is used, which applies the diffusion of innovations framework, innovation system (IS) framework and system dynamics modelling (SDM) alongside traditional economic modelling and appraisal techniques. This approach is used to assess the adoption potential of solar photovoltaic (PV) and diesel water pumping systems in the wildlife conservation sector and surrounding rural communities in Kenya. The case study approach tests the merits of the mixed-methodology approach. Findings The life-cycle costs of solar PV water pumping systems are lower in nearly all financing and utilisation scenarios; offer additional social, technical and environmental benefits; and the conditions exist for greater adoption. The use of an integrated diffusion of innovations and IS framework generates significant qualitative data that can support management decision-making. The use of SDM techniques aid conceptualisation of the community economic, water and institutional systems into which water pumps may be diffused and provide a starting point for formal SDM simulation. The results suggest that these techniques capture the socio-technical perspective well and, when used alongside traditional project appraisal approaches, produce more complete information with which to support management decision-making. Originality/value This mixed-methodology approach could be used by practitioners to increase the diffusion and adoption of RETs in more complex contexts in late-industrialising countries. The emergent theory built through the case-study approach should be tested further to assess the merits of applying these techniques to support RET management decision-making in other contexts and more broadly.

Crisis, rigidity and nonliberal governance in Japan: the cases of Mitsubishi Motors and Kanebo

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Seijiro Takeshita ◽  
Soo Hee Lee ◽  
Christopher Williams ◽  
Jacqueline Jing You
Keyword(s):  
Capital Investment ◽  
Environmental Turbulence ◽  
Management Decision ◽  
Formal Organization ◽  
Business Systems ◽  
Content Type ◽  
Business System ◽  
Management Decision Making ◽  
National Business Systems ◽  
National Business

PurposeThe authors examine the nature of institutional rigidity and governance problems contributing to crisis and under-performance of large corporations in Japan during a period of environmental turbulence for corporate Japan.Design/methodology/approachThrough explorative case studies of Mitsubishi Motors and Kanebo over a 10-year period from the mid-1990s to the mid-2000s the authors see how informal norms deeply embedded in the Japanese business system prevented the adoption of more liberal forms of governance that may have helped to overcome crisis.FindingsDespite fundamental differences in formal organization between the two cases, there were similar underlying problems in terms of (1) mechanisms for capital investment that would underpin strategic resilience and rejuvenation and (2) management decision-making and strategic control during crisis.Research limitations/implicationsThe cases show how normative institutions rather than formal regulative institutions matter to strategic continuity in national business systems that are put under pressure.Originality/valueThe authors link informal norms of governance intrinsic to a country to the issues of strategic resilience and responses during crisis and warn against the retrenching to traditional governance approaches where there has been criticism of alternative governance approaches.

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