Ethics and Socially Responsible Investment : A Philosophical Approach

This volume breaks new ground by approaching Socially Responsible Investment (SRI) as an explicitly ethical practice in financial markets. The work explains the philosophical and practical shortcomings of ‘long term shareholder value’ and the origins and conceptual structure of SRI, and links its pursuit to both its deeper philosophical foundations and the broader, multi-dimensional global movement towards greater social responsibility in global markets. Interviews with fund managers in the Australian SRI sector generate recommendations for better integrating ethics into SRI practice via ethically informed engagement with invested companies, and an in-depth discussion of the central practical SRI issue of fiduciary responsibility strengthens the case in favour of SRI. The practical and ethical theoretical perspectives are then brought together to sketch out an achievable ideal for SRI worldwide, in which those who are involved in investment and business decisions become part of an ‘ethical chain’ of decision makers linking the ultimate owners of capital with the business executives who frame, advocate and implement business strategies. In between there are investment advisors, fund managers, business analysts and boards. The problem lies in the fact that the ultimate owners are discouraged from considering their own values, or even their own long term interests, whilst the others often look only to short term interests. The solution lies in the latter recognising themselves as links in the ethical chain.

Challenges in the supervisory boardroom : an exploratory study in the Netherlands

As a consequence of recent corporate governance reforms, the work of supervisory board members in the Dutch two-tier system has become more complex. The objectives of this study are to gain more insight in the current challenges that supervisory board members face and assess whether they are well-equipped to manage them. Based on a combination of an analysis of self-assessment reports, a web-based survey and semi-structured interviews, we conclude that the major challenges of supervisory board members lie in the field of interaction and collaboration with executives. Distinct ‘challenge areas’ were relatively often perceived as problematic as well as important, highlighting the need to improve the current functioning of boards. With regard to the skills that are present on supervisory boards, we find that individual qualities, like integrity, professionalism and knowledge, are better recognized than collective qualities for the supervisory board as a whole. In particular, openness and honesty are seen as important, but often lacking. The paper highlights several implications for scholars and practitioners.

Safety leaders' perceptions of safety culture in a large Australian construction organisation

Safety culture in the construction industry is a growing research area. The unique nature of construction industry works – being project-based, varying in size and focus, and relying on a highly transient subcontractor workforce – means that safety culture initiatives cannot be easily translated from other industries. This paper reports on the first study in a three year collaborative industry and university research project focusing on safety culture practices and development in one of Australia’s largest global construction organisations. The first round of a modified Delphi method is reported, and describes the insights gained from 41 safety leaders’ perceptions and understandings of safety culture within the organisation. In-depth, semi-structured interviews were conducted, and will be followed by a quantitative perception survey with the same sample. Participants included Senior Executives, Corporate Managers, Project Managers, Safety Managers and Site Supervisors. Leaders’ definitions and descriptions of safety culture were primarily action-oriented and some confusion was evident due to the sometimes implicit nature of culture in organisations. Leadership was identified as a key factor for positive safety culture in the organisation, and there was an emphasis on leaders demonstrating commitment to safety, and being visible to the project-based workforce. Barriers to safety culture improvement were also identified, with managers raising diverse issues such as the transient subcontractor workforce and the challenge of maintaining safety as a priority in the absence of safety incidents, under high production pressures. This research is unique in that it derived safety culture descriptions from key stakeholders within the organisation, as opposed to imposing traditional conceptualisations of safety culture that are not customised for the organisation or the construction industry more broadly. This study forms the foundation for integrating safety culture theory and practice in the construction industry, and will be extended upon in future studies within the research program.

Managerial cognition and reputation : does communication about firms’ intangibles affect performance?

Corporate reputation is viewed as fundamental to firm performance, growth and survival and the maintenance and enhancement of that reputation is a key responsibility of senior executives. However, relatively little is known about the main dimensions of corporate reputation and the amount of attention given to them by senior executives. Based on the corporate reputation and intangible resources literatures, thirteen reputational elements were identified and the amount of attention given to those elements in a large, longitudinal sample of annual reports from Australian firms was measured using computer aided text analysis. This identified five, main reputational dimensions that were both stable over time and related to firms’ future financial performance.

The risks and returns of new public management : political business

Purpose – This article aims to consider success in terms of the financial returns and risks of new public management (NPM) in state-owned enterprises (SOEs). Design/methodology/approach – Financial returns of New Zealand SOEs were examined through a review of their annual reports over a five-year period. Dimensions of risk were examined through interviews conducted in two phases over a two-year period with senior executives from 12 of the (then) 17 SOEs operating in New Zealand. Findings – Findings indicate the potential for SOEs to operate as profitable government investments, with clear support for positive financial returns under NPM. However, variations noted within individual SOEs also indicate that profitable and commercial operations may not be possible in all cases. An examination of the risks associated with SOEs’ operations reveals a number of dimensions of risk, encompassing financial, political (including regulatory), reputational, and public accountability aspects. Practical implications – There is a need for an enhanced awareness on the part of internal and external stakeholders (such as the government and general public) of the risks SOEs face in pursuing higher levels of profitability. Also required, is a more acute understanding on the part of internal and external stakeholders (e.g. government and the public) of the need for SOEs to manage the range of risks identified, given the potentially delicate balance between risk and return. Originality/value – While previous studies have considered the financial returns of SOEs, or the risks faced by the public sector in terms of accountability, few have addressed the two issues collectively in a single context.

Developing a conceptual framework of strategic entrepreneurship

Purpose: This paper aims to examine the integration of entrepreneurship and strategy to develop a conceptual framework of strategic entrepreneurship. The framework is developed through an analysis of theory and refined through an examination of practice. Design/methodology/approach: This framework is considered in the context of potentially entrepreneurial and strategic activity undertaken by 12 of the 17 state-owned enterprises (SOEs) operating in New Zealand in 2006-2007. Based on a review of documents, observation, and interviews with SOE executives, cases of 12 SOE activities were analysed to compare and contrast strategic entrepreneurship in practice. Findings: The findings reveal distinct elements within the four activities classified as strategic entrepreneurship, activities, such as leveraging from core skills and resources from a strategic perspective, and innovation from an entrepreneurial perspective. Originality/value: This study is one of the first to examine the nature of strategic entrepreneurship in practice and the associated financial returns.

The current context of Queensland primary teacher engagement with professional learning through professional associations

Engaging Queensland primary teachers in professional associations can be a challenge, particularly for subject-specific associations. Professional associations are recognised providers of professional learning. By not being involved in professional associations primary teachers are missing potential quality professional learning opportunities that can impact the results of their students. The purpose of the research is twofold: Firstly, to provide a thorough understanding of the current context in order to assist professional associations who wish to change from their current level of primary teacher engagement; and secondly, to contribute to the literature in the area of professional learning for primary teachers within professional associations. Using a three part research design, interviews of primary teachers and focus groups of professional association participants and executives were conducted and themed to examine the current context of engagement. Force field analysis was used to provide the framework to identify the driving and restraining forces for primary teacher engagement in professional learning through professional associations. Communities of practice and professional learning communities were specifically examined as potential models for professional associations to consider. The outcome is a diagrammatic framework outlining the current context of primary teacher engagement, specifically the driving and restraining forces of primary teacher engagement with professional associations. This research also identifies considerations for professional associations wishing to change their level of primary teacher engagement. The results of this research show that there are key themes that provide maximum impact if wishing to increase engagement of primary teachers in professional associations. However the implications of this lies with professional associations and their alignment between intent and practice dedicated to this change.

Actioning university-community engagement : leadership, mentoring and professional communities

This presentation focuses on actioning university-community engagement through a Department of Employment, Education and Work Relations (DEEWR) grant. The project associated with this grant is titled Teacher Education Done Differently (TEDD) and it is currently in its third and final year of operation. TEDD aims to facilitate benefits for all partners (i.e., teachers, school executives, students, preservice teachers, university staff, and education departments). This project aims to facilitate understandings and skills on advancing mentoring and teaching practices for preservice teachers.

Partners in education : the teacher education done differently (TEDD) project

There has been an abundance of education reform recommendations for teaching and teacher education as a result of national and international reviews. A major criticism in education is the lack of connection between theory and practice (or praxis), that is, how the learning at university informs practical applications for teaching in the classroom. This paper presents the Teacher Education Done Differently (TEDD) project, funded by the Department of Education, Employment and Workplace Relations (DEEWR). It outlines how it has re-structured its offering of coursework in a Bachelor of Education (BEd) held at an Australian university campus to embrace praxis. Establishing partnerships was crucial to the development of this project. TEDD initially gathered a reference group of educators, which included university staff, school executives, and other key stakeholders, who formed an Advisory Group and Steering Committee. These groups formed a collective vision for TEDD and aimed to motivate others, foster team work, and create leadership roles that would benefit all stakeholders. The paper presents how university units changed to include a stronger praxis development for preservice teachers. Preservice teachers take their learning into schools within lead-up programs such as Ed Start for practicum I, III, and IV; Science in Schools, and Studies of Society and its Environment (SOSE). Findings showed that opportunities for undertaking additional real-world experiences were perceived to assist the preservice teachers’ praxis development. Additional school-based experiences as lead-up days for field experiences and as avenues for exploring the teaching of specific subject areas presented as an opportunity for enhancing education for all.

Distributed leadership and professional learning communities

This paper focuses on understanding distributed leadership and professional learning communities (PLCs). Through an Australian Government grant, the Teacher Education Done Differently (TEDD) project, data were analysed from 25 school executives about distributed leadership as a potential for influencing educational change through forums such as PLCs. Findings will be discussed in relation to: (1) Understanding the nature of a PLC, (2) Leadership within PLCs, (3) Advancing PLCs, and (4) PLCs as forums for capacity building a profession. A cyclic model for facilitating PLCs is presented, where information such as issues and problems are brought to the collective, discussed and analysed openly to provide further feedback. There are implications for leaders to up-skill staff on distributed leadership practices and further research required to determine which practices facilitate successful PLCs.

Attitudes of employees and employers towards older workers in a climate of anti-discrimination

Attitudes and practices towards older workers were surveyed in Brisbane with 525 employees randomly sampled from the electoral roll and executives of 104 companies obtained by stratified random sampling from the Register of Workplaces (response rates, 60% and 80% respectively). The results indicated that “older workers” are young in terms of contemporary life expectancy, and younger for employers than employees; they have some desirable personal qualities (eg. loyalty), but are not perceived as adaptable; workers aged 25–39 were preferred on qualities held to be important in the workplace and there was minimal interest in recruiting anyone over 45 years.

The growth and international expansion of an emerging market retailer in Latin America

This study contributes to the literature on international retailing by addressing a gap in the literature as to how retailers from emerging markets expand internationally. This historical case study analyzes the growth and internationalization process of Chilean retailer Falabella, one of the largest in Latin America and has been able to compete with multinationals from developed countries. The research is based upon primary and secondary data sources including 33 oral interviews with company managers and family executives, as well as industry data, corporate reports, and trade journals. Drawing on institutional theory, the findings show that by belonging to a family conglomerate, engaging in networks and partnerships, organizational learning, and having an experienced management team helped Falabella gain legitimacy in all international markets.

Design and design thinking in business and management education and development

Design and design thinking have been identified as making valuable contributions to business and management and the numbers of higher education programs that teach design thinking to business students, managers and executives are growing. However multiple definitions of design thinking and the range of perspectives have created some confusion about potential pathways. This paper examines notions of design and design thinking and uses these definitions to identify themes in higher educational programs. We present the findings from an initial exploratory investigation of design and design thinking in higher education business programs and define four distinct educational approaches around human centred innovation, integrative thinking, design management and design as strategy. Potential directions for management education programs are presented.

From bust to boom : towards a strategic cognition perspective on Australian mining firms’ adaption

While the role of executives��� cognition in organisations’ responses to change is a central topic in strategic cognition research, changes in firms’ environment are typically not measured directly but described either as an event (for example, new industry legislation) or represented by a time period (e.g. when a new technology impacted an industry). The Australian mining sector has witnessed a historically significant change in demand for its products and we begin by developing measures of changes in supply and demand for key commodities during the period 1992-2008. We identify sub-groups of firms based on their activities and commodity sector and examine the relation of these variables to executives��� cognition and to firms’ CapEx. We find industry, firm and cognitive variables are related to both strategic cognition and firms’ CapEx.

Leadership and the rise of the corporate psychopath: What can business schools do about the ‘snakes inside’?

Purpose: Leadership styles are reviewed and reassessed given recent research that links destructive leadership behaviours exhibited by unscrupulous executives with traits commonly identified as indicators of corporate psychopathy. Method/approach: A review of the literature describing the various theories dealing with the nature of leadership styles and the rise of interest in corporate psychopathy and destructive leadership. Implications: This paper offers a psychological perspective for future research which provides both impetus and additional support for further analysis and exploration of such leadership styles in the business environment. One distinct advantage of this extrapolation is the articulation of insights into aspects of decision making by leaders, providing further insight into the formulation of leadership development programs in organisations and courses in business schools training future leaders.