Starting out: Quality of working life of young workers in the retail and hospitality industries in Australia

In the 1990s workers in Australia were increasingly subjected to negative work pressures. Irregular work patterns, work intensification, and the transformation of the notion of career, often in the name of ‘flexibility’, were increasingly common. This period was also characterised by scant regard for the quality of working life of young people in entry-level employment, which is often portrayed as a transition stage prior to their admission into the full-time core workforce. This paper explores the experiences of twenty-two young people at the beginning of their careers, in the hospitality and retail industries, with reference to three quality of working life (QWL) elements: hours flexibility, work-life balance and career potential. Qualitative evidence reveals a variety of experiences but, on balance, suggests a negative quality of working life and limited commitment to their current industry. In conclusion, the paper suggests that these industries must pay more attention to QWL issues in order to attract and retain quality staff.

Exploring the characteristics of the market-driven firms and antecedents to sustained competitive advantage

During the last few decades, identifying and examining the characteristics of market-driven firms have been a dominant theme in strategic marketing research. It has been argued that market-driven firms are superior in their market sensing and customer linking capabilities, enabling market-driven firms to outperform their competitors. This paper reports the findings of a study that examines the role market-focused learning capability and marketing capability in innovation-based competitive strategy on sustainable competitive advantage. The findings indicate that entrepreneurship is an important factor in sustained competitive advantage (SCA) and while market-focused learning capability leads to higher degrees of innovation, marketing capability enables SCA. (C) 2003 Elsevier Inc. All rights reserved.

Coordinations in business interactions between Hong Kong Chinese, Mainland Chinese and western actors

Hong Kong firms continue to play an important role in the development of mainland China trade. This paper studies the nature of coordinations in triadic interactions between Hong Kong Chinese intermediaries and mainland Chinese sellers, and buyers from the West, and their impact on relationships development. Contrary to popular belief, the results presented here identify that interactions between Hong Kong intermediaries and mainland Chinese sellers tend to include relationships based on price and authority. These interactions tend to be classical in nature, and serve to hinder the development of relationships. On the other hand, interactions between buyers from the West and Hong Kong intermediaries tend to be relational in nature. They include different forms of personal relationships, which tends to be positive for the development of relationships. A new plural form of international business relationship triad is also identified.

The NASCAR phenomenon: Auto racing sponsorships and shareholder wealth

This study presents the first analysis of the impact of NASCAR sponsorship announcements on the stock prices of sponsoring firms. The primary finding of the study-that NASCAR sponsorship announcements were accompanied by the largest increases in shareholder wealth ever recorded in the marketing literature in response to a voluntary marketing program-represents a striking and unambiguous stock market endorsement of the sponsorships. Indeed, the 24 sponsors analyzed in this study experienced mean increases in shareholder wealth of over $300 million dollars, net of all of the costs associated with the sponsorships. A multiple regression analysis of firm-specific stock price changes and select corporate and sponsorship attributes indicates that NASCAR sponsorships with more successful racing teams, corporate (as opposed to product or divisional) sponsorships, and sponsorships with direct ties to the consumer automotive industry are all positively correlated with perceived sponsorship success, while corporate cash flow per share (a well-known proxy for agency conflicts within the firm) is negatively related with shareholder approval.

Relationship between franking credits and the market risk premium

In a dividend imputation tax system, equity investors have three potential sources of return: dividends, capital gains and franking (tax) credits. However, the standard procedures for estimating the market risk premium (MRP) for use in the capital asset pricing model, ignore the value of franking credits. Officer (1994) notes that if franking credits do affect the corporate cost of capital, their value must be added to the standard estimates of MRP. In the present paper, we explicitly derive the relationship between the value of franking credits (gamma) and the MRP. We show that the standard parameter estimates that have been adopted in practice (especially by Australian regulators) violate this deterministic mathematical relationship. We also show how information on dividend yields and effective tax rates bounds the values that can be reasonably used for gamma and the MRP. We make recommendations for how estimates of the MRP should be adjusted to reflect the value of franking credits in an internally consistent manner.

The impact of leadership and change management strategy on organizational culture and individual acceptance of change during a merger

This article reports a longitudinal study that examined mergers between three large multi-site public-sector organizations. Both qualitative and quantitative methods of analysis are used to examine the effect of leadership and change management strategies on acceptance of cultural change by individuals. Findings indicate that in many cases the change that occurs as a result of a merger is imposed on the leaders themselves, and it is often the pace of change that inhibits the successful re-engineering of the culture. In this respect, the success or otherwise of any merger hinges on individual perceptions about the manner in which the process is handled and the direction in which the culture is moved. Communication and a transparent change process are important, as this will often determine not only how a leader will be regarded, but who will be regarded as a leader. Leaders need to be competent and trained in the process of transforming organizations to ensure that individuals within the organization accept the changes prompted by a merger.