scholarly journals Russian Entrepreneurship: A Question Of Ambiguity Or Certainty, Risk Taking Or Risk Averse?

2011 ◽  
Vol 3 (10) ◽  
Author(s):  
J.G. Gallagher
Keyword(s):  
Market Economy ◽  
Risk Taking ◽  
Environmental Changes ◽  
Free Market ◽  
Import Substitution ◽  
Strategic Leadership ◽  
Great Expectations ◽  
Entrepreneurial Spirit ◽  
The Future ◽  
And Performance

This article stems from a case study based on a series of in-depth interviews carried out on the All Russia Association of the Blind (VOS). It traces how two of the most successful VOS enterprises, Enterprise 13 in Moscow and Revda in the Urals, responded to the dynamic changes (both economic and social) that confronted them after the introduction of the free market economy. It examines the strategies, developed and emergent, created since 1991 by these two enterprises. In particular it traces the emergence of the entrepreneurial manager and his adaptation to the catalyst of change - growth, through the development of creative and proactive solutions to these environmental changes. In essence the contention is that in a period of flux where turbulence is high and change inevitable strategic leadership, driven by an entrepreneurial spirit, comes to the fore as a natural consequence of market forces. Risk taking and high tolerance of ambiguity mark the innovative leader.For hundreds of years the Russians had lived under centralising, autocratic regimes. In April 1985 Gorbachevs Perestroika changed this. Perestroika introduced the seeds of a democratic political system and the beginnings of a market economy which was to supplant the failing Marxist model.Inevitably, the outcome was a situation of unparalleled complexity. Perestroika broke the Russian business mould. It created uncertainty by introducing ambiguity in the form of competition. The environment became increasingly unstable and the future uncertain. Enterprise directors had to take a step into the unknown. It was a period which started in 1991 with great expectations and aspirations but by 1997 had, through the erosion of the economic base, progressed to fear and trepidation as earlier dreams were unfulfilled. Finally, after the currency collapse of 1998, came the unexpected windfalls of import substitution and enhanced exchange rate benefits which led to the re-emergence of hope in the future as the expected economic deterioration failed to materialise.By 1998 the relationship between strategy, structure and performance was rewritten to capitalise on the emerging opportunities. But this entailed a deliberate destruction of the old business methodologies and relationships, the bending of rules, and the creation of a new culture based on risk. In essence it meant the emergence of a new set of core competences driven by a strategic leadership geared to handling ambiguity and oriented towards risk taking. A breed not readily found in Russia or the VOS enterprises.

Price and Niche Wars in a Free-Market Economy of Software Agents

1998 ◽  
Vol 4 (1) ◽  
pp. 1-23 ◽  
Author(s):  
Jeffrey O. Kephart ◽  
James E. Hanson ◽  
Jakka Sairamesh
Keyword(s):  
Market Economy ◽  
Free Market ◽  
Software Agents ◽  
Information Filtering ◽  
Dynamical Behavior ◽  
Free Market Economy ◽  
Information Goods ◽  
Goods And Services ◽  
The Future ◽  
The Right

One scenario of the future of computation populates the Internet with vast numbers of software agents providing, trading, and using a rich variety of information goods and services in an open, free-market economy. An essential task in such an economy is the retailing or brokering of information: gathering it from the right producers and distributing it to the right consumers. This article investigates one crucial aspect of brokers' dynamical behavior, their price-setting mechanisms, in the context of a simple information-filtering economy. We consider only the simplest cases in which a broker sets its price and product parameters based solely on the system's current state, without explicit prediction of the future. Analytical and numerical results show that the system's dynamical behavior in such “myopic” cases is generally an unending cycle of disastrous competitive “wars” in price/product space. These in turn are directly attributable to the existence of multiple peaks in the brokers' profitability landscapes, a feature whose generality is likely to extend far beyond our model.

Capitalist Coalitions, the State, and Neoliberal Economic Restructuring: Chile, 1973–88

1993 ◽  
Vol 45 (4) ◽  
pp. 526-559 ◽  
Author(s):  
Eduardo Silva
Keyword(s):  
Market Economy ◽  
Free Market ◽  
Economic Change ◽  
Import Substitution ◽  
Economic Restructuring ◽  
The State ◽  
Free Market Economy ◽  
Relative State ◽  
Power Resources ◽  
High Degree

This article argues that a high degree of relative state autonomy and ideology, while necessary, was not sufficient to explain fully the change from import-substitution industrialization to an open, free-market economy in Chile. A comparison across three distinct policy periods in authoritarian Chile reveals that shifting coalitions of businessmen and landowners, with varying power resources, also played an important part in the outcome. This approach does not seek to vitiate other interpretations of economic change in Chile and elsewhere. The question is not so much which factor is most important, but how and when the different factors matter.

Approaches to estimating the efficiency and performance of the trade enterprise activity: modern view

2019 ◽  
pp. 71-77
Author(s):  
Lyudmyla Shymanovska-Dianych ◽  
Nataliya Pedchenko
Keyword(s):  
Market Economy ◽  
Continuous Improvement ◽  
Systematic Analysis ◽  
Modern View ◽  
And Performance ◽  
Enterprise Activity

In the article, the existing variety of terms of "efficiency" and "performance" is structured and the features of each concept and the differences between them are defined. The article proves that it is necessary to divide the categories "performance" and "efficiency" for trade enterprises. Each of them has an independent value, equally important for the evaluation of their activities, and can not replace another concept. The authors prove that in a market economy, when the results of the work of some market actors depend on the clarity and coherence of the work of other actors, the problem of efficiency becomes decisive. The article argues that the key to the success of any enterprise, including commercial ones, lies in the continuous improvement of the efficiency and performance of their activities, systematic analysis, development and implementation of measures aimed at increasing its efficiency and performance. The approaches to assessing the efficiency and performance of the enterprise, which most fully cover the key criteria for assessing the efficiency and performance of different enterprises, are analyzed. Despite the obvious differences below the described approaches, they do not exclude each other, but only characterize the operation of the enterprise from different sides. These approaches are based on certain indicators by means of which the analysis, comparison and evaluation of the enterprise is carried out. The authors prove that this system of indicators is not ideal and does not take into account all characteristics of trade enterprises, which influence the efficiency and performance of their activities. Therefore, they suggest expanding this list, adding such indicators as an indicator of the overall assessment of the economic profitability of a trade company, the indicator of the effectiveness of the use of retail space and indirect indicators of profitability.

Determinanty wewnętrzne polityki zagranicznej Ukrainy pod rządami Wołodymyra Zełenskiego

2019 ◽  
Vol 17 (1) ◽  
pp. 123-141
Author(s):  
Tomasz Stępniewski
Keyword(s):  
Market Economy ◽  
Rule Of Law ◽  
Political System ◽  
Free Market ◽  
Stable State ◽  
Free Market Economy ◽  
The Rule Of Law ◽  
The People ◽  
Internal Politics ◽  
Research Questions

The present paper discusses the following research questions: to what extent did errors made by the previous presidents of Ukraine result in the country’s failure to introduce systemic reforms (e.g. combating corruption, the development of a foundation for a stable state under the rule of law and free-market economy)?; can it be ventured that the lack of radical reforms along with errors in the internal politics of Ukraine under Petro Poroshenko resulted in the president’s failure?; will the strong vote of confidence given to Volodymyr Zelensky and the Servant of the People party exact systemic reforms in Ukraine?; or will Volodymyr Zelensky merely become an element of the oligarchic political system in Ukraine?

KEGAGALAN PRIVATISASI BUMN DI ERA REZIM ORDE BARU DALAM PERSPEKTIF EKONOMI POLITIK

Wacana Publik ◽  
2019 ◽  
Vol 12 (02) ◽  
Author(s):  
Syamsul Ma'arif
Keyword(s):  
Market Economy ◽  
Free Market ◽  
Dominant Role ◽  
The State ◽  
Early Years ◽  
New Order ◽  
Free Market Economy ◽  
Economic Sectors ◽  
Role Of The State

After had being carried out nationalization and hostility against west countries, the New Order regime made important decision to change Indonesia economic direction from etatism system to free market economy. A set of policies were taken in order private sector could play major role in economic. However, when another economic sectors were reformed substantially, effords to reform the State Owned Enterprises had failed. The State Owned Enterprise, in fact, remained to play dominant role like early years of guided democracy era. Role of the State Owned Enterprises was more and more powerfull). The main problem of reforms finally lied on reality that vested interest of bureaucrats (civil or military) was so large that could’nt been overcome. 

Internal Control Quality and Bank Risk-Taking and Performance

2020 ◽  
Author(s):  
Matthew Baugh ◽  
Matthew Ege ◽  
Christopher G. Yust
Keyword(s):  
Internal Control ◽  
Risk Taking ◽  
Downside Risk ◽  
Internal Controls ◽  
Bank Risk ◽  
Material Weakness ◽  
Control Quality ◽  
Interest Income ◽  
Upside Risk ◽  
And Performance

Using a sample of bank-years from 2005 to 2017, we examine the effect of internal control quality on future risk-taking and performance. We find that banks that disclose a material weakness in internal controls have higher risk-taking and worse performance in the future, including having a higher (lower) likelihood of experiencing large losses (gains). These findings suggest that weak controls increase (reduce) downside (upside) risk-taking or conversely that strong controls increase (reduce) upside (downside) risk-taking. Path analyses suggest that 22.3 to 43.7 percent of the effect of internal control quality on future performance is through risk-taking. Additionally, material weaknesses are negatively associated with total asset, loan, interest income, and non-interest income growth, suggesting that internal control quality affects both core and non-core activities of banks. Overall, results suggest that strong internal controls improve bank risk-taking, in part through asymmetrically reducing downside risk-taking while facilitating upside risk-taking, ultimately improving bank performance.

scholarly journals Adventures in Music Translation: Italian Songs and Arias (aka “The Yellow Book”) and Me

2017 ◽  
Vol 9 (1) ◽  
pp. 63
Author(s):  
Lynn Penrod
Keyword(s):  
Art Song ◽  
Translation Studies ◽  
Collaborative Approach ◽  
The Future ◽  
Working Together ◽  
Italian Songs ◽  
And Performance ◽  
Critical Interest

This article is a general exploration of translation issues involved in the translation and performance of the art song, arguing that although critical interest in recent years has been growing, the problems involved in these hybrid translation projects involving both text and music present a number of conundrums: primacy of text or music, focus on performability, and age-old arguments about fidelity and/or foreignization vs domestication. Using information from theatre translation and input from singers themselves, the author argues that this particular area of translation studies will work best in the future with a collaborative approach that includes translators, musicologists, and performers working together in order to produce the most “singable” text as possible for the art song in performance.

scholarly journals Cuing both positive and negative episodic foresight reduces delay discounting but does not affect risk-taking

2019 ◽  
Vol 72 (8) ◽  
pp. 1998-2017 ◽  
Author(s):  
Adam Bulley ◽  
Beyon Miloyan ◽  
Gillian V Pepper ◽  
Matthew J Gullo ◽  
Julie D Henry ◽  
...  
Keyword(s):  
Decision Making ◽  
Delay Discounting ◽  
Risk Taking ◽  
Future Scenarios ◽  
Balloon Analogue Risk Task ◽  
Episodic Simulation ◽  
The Future ◽  
Future Events ◽  
Monetary Choice Questionnaire

Humans frequently create mental models of the future, allowing outcomes to be inferred in advance of their occurrence. Recent evidence suggests that imagining positive future events reduces delay discounting (the devaluation of reward with time until its receipt), while imagining negative future events may increase it. Here, using a sample of 297 participants, we experimentally assess the effects of cued episodic simulation of positive and negative future scenarios on decision-making in the context of both delay discounting (monetary choice questionnaire) and risk-taking (balloon-analogue risk task). Participants discounted the future less when cued to imagine positive and negative future scenarios than they did when cued to engage in control neutral imagery. There were no effects of experimental condition on risk-taking. Thus, although these results replicate previous findings suggesting episodic future simulation can reduce delay discounting, they indicate that this effect is not dependent on the valence of the thoughts, and does not generalise to all other forms of “impulsive” decision-making. We discuss various interpretations of these results, and suggest avenues for further research on the role of prospection in decision-making.

The Future of Performance Ratings: Collected Thoughts From Six Emerging Scholars

2016 ◽  
Vol 9 (2) ◽  
pp. 334-337
Author(s):  
Andrew M. Bleckman ◽  
Sarah N. Guarino ◽  
Wesley Russell ◽  
Eileen C. Toomey ◽  
Paul M. Werth ◽  
...  
Keyword(s):  
Performance Appraisal ◽  
Work Performance ◽  
Performance Ratings ◽  
Final Examination ◽  
Next Generation ◽  
General Survey ◽  
The Future ◽  
And Performance ◽  
Appraisal Processes

During the fall 2015 semester, I (i.e., the last author of this response) taught a doctoral seminar on performance appraisal. Although this course was a general survey of research and theory regarding work performance and performance appraisal processes and methods, we also talked extensively about the value of performance ratings to organizations, raters, and ratees. It was indeed serendipitous that this focal article came out when it did. As part of the final examination requirements (and, admittedly, as a pedagogical experiment), I asked the six PhD students in this course (i.e., the first six authors of this response) to read and respond to the Adler et al. (2016) debate regarding the relative merits of performance ratings. To highlight the perspectives of this next generation of industrial and organizational psychologists, I have collected here various representative comments offered by each of these emerging scholars on this issue.

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