Small bank, big ambitions

2014 ◽  
Vol 30 (10) ◽  
pp. 1-4
Keyword(s):  
Business Performance ◽  
Best Practice ◽  
Global Financial Crisis ◽  
Management Style ◽  
Collaborative Management ◽  
American Business ◽  
Executive Development ◽  
Content Type ◽  
Start Up ◽  
Privately Owned

Purpose – The purpose of this article is to explain how an extensive program of executive development was used to stimulate a far-reaching change in organizational culture and strengthen business performance. Design/methodology/approach – It presents a case study describing how a privately owned Russian bank worked in partnership with an American business school at their European campus to boost management and leadership skills and create a culture that values teamwork, initiative taking and the free exchange of ideas. Findings – The first branch only opened in 1996, but by 2011, it was the third largest privately owned bank in Russia. But at Promsvyazbank (PSB) they wanted more – to compete on the basis of international best practice. Not such an easy task, after the global financial crisis had brought lending to customers to a halt and – perhaps understandably – taken attention away from executive development. Many banks in many countries faced difficulties following that crisis, including the issues of liquidity and capital limits facing PSB. But there were some extra challenges in their drive for expansion: two banks between them dominated the Russian home market: state-owned Sberbank and multinational Raffeisen, with market shares of 60 per cent and 15 per cent, respectively. It was time to ask what the bank needed to do to move from successful start-up to competitive, maturing organization. Practical implications – It emphasizes the role of leaders in driving and managing change and highlights the importance of a clear strategic focus. Social implications – It shows how the creation of a common culture and the adoption of a collaborative management style can stimulate knowledge sharing and strengthen business performance. Originality/value – It provides an insight into the managerial and cultural challenges executives must address as their successful start-up matures into an organization with ambitions to become the top privately owned bank in Russia.

scholarly journals How entrepreneurs think: financial decisions for the long or short term

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Jonas Debrulle ◽  
Johan Maes ◽  
Elliroma Gardiner
Keyword(s):  
Intrinsic Motivation ◽  
Business Performance ◽  
Extrinsic Motivation ◽  
Structured Interviews ◽  
Short Term ◽  
Return On Assets ◽  
Content Type ◽  
Financial Decisions ◽  
Start Up ◽  
New Business

Purpose The purpose of this paper is to suggest that different start-up motivations make entrepreneurs pursue different kinds of new business performance, which in this study are expressed in financial terms (i.e. return on assets). The authors posit that so-called extrinsic motivation urges entrepreneurs to be more short-term oriented, while their intrinsic motivation encourages a longer-term business vision. Additionally, this paper explores how intrinsic and extrinsic entrepreneurship motivations combine and produce financial dilemmas for entrepreneurs. Design/methodology/approach The analyses are based on 300 entrepreneurs across diverse industries in Belgium. Data was collected for this study through structured interviews with entrepreneurs combined with a company questionnaire. Financial data was obtained through a government database. Findings Results confirm that extrinsic entrepreneurship motivation boosts new business short-term financial performance, whereas intrinsic motivation contributes to the firm’s longer-term financial returns. This paper also shows that a mix of intrinsic and extrinsic motivations directs entrepreneurs toward different profitability levels during the organization’s survival and early-establishment phase. Originality/value Research on entrepreneurship has not yet corroborated that motivations can be personally conflicting, thereby saddling the entrepreneur with dilemmas that may manifest into different levels of business performance.

scholarly journals Boom or bust? Embedding entrepreneurship in education in Australia

2019 ◽  
Vol 61 (6) ◽  
pp. 737-755
Author(s):  
Alex Maritz ◽  
Quan Nguyen ◽  
Martin Bliemel
Keyword(s):  
Higher Education ◽  
Design Methodology ◽  
Best Practice ◽  
Management Theory ◽  
Content Type ◽  
Material Resources ◽  
Start Up ◽  
The Status ◽  
Entrepreneurship Ecosystems ◽  
Practical Implications

Purpose The purpose of this paper is to evaluate the status of entrepreneurship education (EE) in Australia, replicating and expanding a similar study in 2015. The aim is to review neoteric global best practice EE initiatives, enabling the examination and embedding of EE offerings and initiatives at all 40 higher education institutions (HEIs) in Australia. Design/methodology/approach The authors introduce a review of prominent and recent global EE scholarship, enabling an iterative and emergent inquiry perspective aligned to inductive and nascent multi-method empirical research associated with theoretical underpinnings of symbolic and substantive management theory. Findings This paper highlights the sparse and inconsistent distribution of EE programs and initiatives across all 40 Australian HEIs, particularly against the backdrop of rapidly expanding start-up and entrepreneurship ecosystems. Furthermore, outcomes provide best practice EE initiatives, which included staff mobility and transferability of skills. HEIs in Australia are experiencing a moderate EE boom, albeit marginally down on global EE transformation initiatives. Research limitations/implications Limitation of the data is subject to availability and accuracy of online documents and material resources, although implications have been mitigated using multi-method research design. Practical implications The findings provide critical grounding for researchers, practitioners and HEIs wishing to enhance EE within ever-expanding entrepreneurship ecosystems. Originality/value This study is the first multi-methods inquiry into the status of EE in Australia, consisting of quantitative, qualitative and algorithmic methods.

Job insecurity and health

2018 ◽  
Vol 26 (1) ◽  
pp. 25-27
Keyword(s):  
Design Methodology ◽  
Best Practice ◽  
Reading Time ◽  
Job Insecurity ◽  
Content Type ◽  
Corporate Strategies ◽  
Start Up ◽  
Pertinent Information ◽  
Business And Management ◽  
Practical Implications

Purpose This paper aims to review the latest management developments across the globe and pinpoints 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 Much of the glossy magazine literature surrounding business and management looks, perhaps understandably, at success. The best strategies, most efficient workflows, killer apps, and best practice in human resource management – everywhere you look – are “10 ways to increase profit” or “seven best start up opportunities”. What about the failures? With so much success to share, there has to be at least as much failure, if not more. The concern is that there is much more to learn from all of that failure, but headlines such as “how not to sell” or “12 of the worst corporate strategies” tend not to sell business magazines at the world’s airports. 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.

Cognitive consequences of business shut down. The case of Ugandan repeat entrepreneurs

2014 ◽  
Vol 20 (3) ◽  
pp. 263-277 ◽  
Author(s):  
Arthur Sserwanga ◽  
Gerrit Rooks
Keyword(s):  
Attribution Theory ◽  
Business Performance ◽  
Business Failure ◽  
Business Success ◽  
Past Performance ◽  
Content Type ◽  
Practical Applications ◽  
Subsequent Performance ◽  
Start Up ◽  
The Relationship

Purpose – The purpose of this paper is to focus on the cognitive and motivational consequences of a business failure, and their relation with subsequent start up success. The paper hypothesizes that if previous business failure was attributed to an internal and stable cause, subsequent business would be less successful compared to where an entrepreneur attributed business failure to an internal and unstable cause. Design/methodology/approach – The authors reviewed the literature on attribution theory in an achievement context and derived a hypothesis about the relation between causal thinking and subsequent business success. A survey amongst entrepreneurs in Uganda was carried out to yield insights on how attributions to past performance influence subsequent business performance. Findings – Entrepreneurs who attributed previous business failure to an internal, stable cause were found to be less successful in subsequent business start up. When repeat entrepreneurs attribute previous shut down to a lack of ability, they are less successful in a subsequent business start up. However, attributing the failure to a lack of effort, does not affect subsequent business success. Originality/value – The study reaffirms the importance of attributional thinking in entrepreneurship and provides empirical evidence on the relationship between the way entrepreneurs think about their previous performance and subsequent performance. Attributional thinking influences subsequent business actions and outcomes, which offers important practical applications. For instance training to change attributions of entrepreneurs may be used to influence their eventual performance.

Solutions for risk data compliance under BCBS 239

2015 ◽  
Vol 16 (4) ◽  
pp. 66-77 ◽  
Author(s):  
Lukas Prorokowski ◽  
Hubert Prorokowski
Keyword(s):  
Data Management ◽  
Financial Services ◽  
Best Practice ◽  
Global Financial Crisis ◽  
Risk Governance ◽  
Regulatory Change ◽  
Content Type ◽  
Geographical Regions ◽  
Financial Services Firms ◽  
The Impact

Purpose – BCBS 239 sets out a challenging standard for risk data processing and reporting. Any bank striving to comply with the principles will be keen to introspect how risk data is organized and what execution capabilities are at their disposal. With this in mind, the current paper advises banks on the growing number of solutions, tools and techniques that can be used to support risk data management frameworks under BCBS 239. Design/methodology/approach – This paper, based on a survey with 29 major financial institutions, including G-SIBs and D-SIBs from diversified geographical regions such as North America, Europe and APAC, aims to advise banks and other financial services firms on what is needed to become ready and compliant with BCBS 239. This paper discusses best practice solutions for master data management, data lineage and end user implementations. Findings – The primary conclusion of this paper is that banks should not treat BCBS 239 as yet another compliance exercise. The BCBS 239 principles constitute a driving force to restore viability and improve risk governance. In light of the new standards, banks can benefit from making significant progress towards risk data management transformation. This report argues that banks need to invest in a solution that empowers those who use the data to manage risk data. Thus, operational complexities are lifted and no data operations team is needed for proprietary coding of the data. Only then banks will stay abreast of the competition, while becoming fully compliant with the BCBS 239 principles. Practical implications – As noted by Prorokowski (2014), “Increasingly zero accountability, imposed, leveraged omnipresent vast endeavors, yielding ongoing understanding […] of the impact of the global financial crisis on the ways data should be treated” sparked off international debates addressing the need for an effective solution to risk data management and reporting. Originality/value – This paper discusses the forthcoming regulatory change that will have a significant impact on the banking industry. The Basel Committee on Banking Supervision published its Principles for effective risk data aggregation and risk reporting (BCBS239) in January last year. The document contains 11 principles that Global Systemically Important Banks (G-SIBs) will need to comply with by January 2016. The BCBS 239 principles are regarded as the least known components of the new regulatory reforms. As it transpires, the principles require many banks to undertake a significant amount of technical work and investments in IT infrastructure. Furthermore, BCBS 239 urges financial services firms to review their definitions of the completeness of risk data.

Financial distress determinants among SMEs: empirical evidence from Sweden

2020 ◽  
Vol 47 (3) ◽  
pp. 547-560 ◽  
Author(s):  
Darush Yazdanfar ◽  
Peter Öhman
Keyword(s):  
Financial Crisis ◽  
Financial Distress ◽  
Large Scale ◽  
Global Financial Crisis ◽  
Binary Logistic Regression ◽  
Data Availability ◽  
Cross Sectional ◽  
Data Set ◽  
Content Type ◽  
The Global Financial Crisis

PurposeThe purpose of this study is to empirically investigate determinants of financial distress among small and medium-sized enterprises (SMEs) during the global financial crisis and post-crisis periods.Design/methodology/approachSeveral statistical methods, including multiple binary logistic regression, were used to analyse a longitudinal cross-sectional panel data set of 3,865 Swedish SMEs operating in five industries over the 2008–2015 period.FindingsThe results suggest that financial distress is influenced by macroeconomic conditions (i.e. the global financial crisis) and, in particular, by various firm-specific characteristics (i.e. performance, financial leverage and financial distress in previous year). However, firm size and industry affiliation have no significant relationship with financial distress.Research limitationsDue to data availability, this study is limited to a sample of Swedish SMEs in five industries covering eight years. Further research could examine the generalizability of these findings by investigating other firms operating in other industries and other countries.Originality/valueThis study is the first to examine determinants of financial distress among SMEs operating in Sweden using data from a large-scale longitudinal cross-sectional database.

Conference report: innovation, interaction … and a lot of data: first time reflections on Internet Librarian International, UK 2018

2019 ◽  
Vol 36 (2) ◽  
pp. 21-22
Author(s):  
Ray Harper
Keyword(s):  
Best Practice ◽  
New Technologies ◽  
Conference Report ◽  
Library Services ◽  
New Techniques ◽  
Content Type ◽  
Making A Difference ◽  
Analyse Data ◽  
Physical Spaces ◽  
First Time

Purpose The purpose of this paper is to summarise a number of presentations at Day 1 of the Internet Librarian International conference, London, UK (16 October 2018). This was the 20th conference in the series, and the three key themes included were the next-gen library and librarian; understanding users, usage and user experience; and inclusion and inspiration: libraries making a difference. Design/methodology/approach This paper reports from the viewpoint of a first-time attendee of the conference. This summarises the main issues raised by each presentation and draws out the key learning points for practical situations. Findings The conference covered a variety of practical ways in which libraries can use technology to support users and make decisions about services. These include developing interactive physical spaces which include augmented reality; introducing “chat-bots” to support users; using new techniques to analyse data; and piloting new ways to engage users (such as coding clubs). A key theme was how we use and harness data in a way that is ethical, effective and relevant to library services. Originality/value This conference focussed on practical examples of how library and information services across sectors and countries are innovating in a period of huge change. The conference gave delegates numerous useful ideas and examples of best practice and demonstrated the strength of the profession in adapting to new technologies and developments.

OCIE issues risk alert on the most frequently identified advisory fee and expense compliance issues

2018 ◽  
Vol 19 (4) ◽  
pp. 1-3
Author(s):  
Robert Van Grover
Keyword(s):  
Design Methodology ◽  
Best Practice ◽  
Investment Management ◽  
Content Type ◽  
Informed Decisions ◽  
Policies And Procedures ◽  
The Us ◽  
Investment Advisers ◽  
Practical Implications

Purpose To summarize and interpret a Risk Alert issued on April 12, 2018 by the US SEC’s Office of Compliance Inspections and Examinations (OCIE) on the most frequent advisory fee and expense compliance issues identified in recent examinations of investment advisers. Design/methodology/approach Summarizes deficiencies identified by the OCIE staff pertaining to advisory fees and expenses in the following categories: fee billing based on incorrect account valuations, billing fees in advance or with improper frequency, applying incorrect fee rates, omitting rebates and applying discounts incorrectly, disclosure issues involving advisory fees, and adviser expense misallocations. Findings In the Risk Alert, OCIE staff emphasized the importance of disclosures regarding advisory fees and expenses to the ability of clients to make informed decisions, including whether or not to engage or retain an adviser. Practical implications In light of the issues identified in the Risk Alert, advisers should assess the accuracy of disclosures and adequacy of policies and procedures regarding advisory fee billing and expenses. As a matter of best practice, advisers should implement periodic forensic reviews of billing practices to identify and correct issues relating to fee billing and expenses. Originality/value Expert guidance from experienced investment management lawyer.

scholarly journals Protocol for a two-arm pragmatic stepped-wedge hybrid effectiveness-implementation trial evaluating Engagement and Collaborative Management to Proactively Advance Sepsis Survivorship (ENCOMPASS)

2021 ◽  
Vol 21 (1) ◽  
Author(s):  
Marc Kowalkowski ◽  
Tara Eaton ◽  
Andrew McWilliams ◽  
Hazel Tapp ◽  
Aleta Rios ◽  
...  
Keyword(s):  
Usual Care ◽  
Best Practice ◽  
Healthcare Delivery ◽  
Collaborative Management ◽  
High Morbidity ◽  
Type I ◽  
Stepped Wedge ◽  
Sepsis Management ◽  
Sepsis Survivors ◽  
Sepsis Care

Abstract Background Sepsis survivors experience high morbidity and mortality, and healthcare systems lack effective strategies to address patient needs after hospital discharge. The Sepsis Transition and Recovery (STAR) program is a navigator-led, telehealth-based multicomponent strategy to provide proactive care coordination and monitoring of high-risk patients using evidence-driven, post-sepsis care tasks. The purpose of this study is to evaluate the effectiveness of STAR to improve outcomes for sepsis patients and to examine contextual factors that influence STAR implementation. Methods This study uses a hybrid type I effectiveness-implementation design to concurrently test clinical effectiveness and gather implementation data. The effectiveness evaluation is a two-arm, pragmatic, stepped-wedge cluster randomized controlled trial at eight hospitals in North Carolina comparing clinical outcomes between sepsis survivors who receive Usual Care versus care delivered through STAR. Each hospital begins in a Usual Care control phase and transitions to STAR in a randomly assigned sequence (one every 4 months). During months that a hospital is allocated to Usual Care, all eligible patients will receive usual care. Once a hospital transitions to STAR, all eligible patients will receive STAR during their hospitalization and extending through 90 days from discharge. STAR includes centrally located nurse navigators using telephonic counseling and electronic health record-based support to facilitate best-practice post-sepsis care strategies including post-discharge review of medications, evaluation for new impairments or symptoms, monitoring existing comorbidities, and palliative care referral when appropriate. Adults admitted with suspected sepsis, defined by clinical criteria for infection and organ failure, are included. Planned enrollment is 4032 patients during a 36-month period. The primary effectiveness outcome is the composite of all-cause hospital readmission or mortality within 90 days of discharge. A mixed-methods implementation evaluation will be conducted before, during, and after STAR implementation. Discussion This pragmatic evaluation will test the effectiveness of STAR to reduce combined hospital readmissions and mortality, while identifying key implementation factors. Results will provide practical information to advance understanding of how to integrate post-sepsis management across care settings and facilitate implementation, dissemination, and sustained utilization of best-practice post-sepsis management strategies in other heterogeneous healthcare delivery systems. Trial registration NCT04495946. Submitted July 7, 2020; Posted August 3, 2020.

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