The serendipity of leadership effectiveness in management and business practices

Purpose – The objective of this paper is to conceptualize the serendipity of leadership effectiveness in management and business practices. The term “serendipity” is defined as the mix of leadership effectiveness by accident and sagacity in management and business practices.
Design/methodology/approach – The paper provides a conceptual discussion of the serendipity of leadership effectiveness in management and business practices.
Findings – This paper contributes a number of models and a matrix that are introduced to address the underlying criteria of the cause-effect relationship between leadership effectiveness and organizational achievements.
Research limitations/implications – This paper challenges the idealistic picture that flourishes in the management literature and in management practice of the direct, positive impact of leadership on prosperous management and business practices. In fact, it reinforces and underpins the critical or sceptical views of leadership effectiveness raised in the literature.
Practical implications – Normally, views of organizational achievements are based on the assumption that contextual, timely and skilful precisions in leadership effectiveness are high. Shareholders and stakeholders may benefit from a thorough examination of these issues in organizational achievements. It would not be surprising to find that leadership effectiveness in management and business practices to a minor or major extent is derived from pure luck and coincidence in contextual and timely precisions: right place, right time. This means that such leadership effectiveness may be based on serendipity rather than skilfulness in terms of organizational achievements.
Originality/value – The authors contend that the term “serendipity” contributes to enhance the ongoing discussion in the literature of the link between leadership effectiveness and organizational achievements. It also provides a fundament of understanding, explanation and prediction of leadership effectiveness in management and business practices.

A strategic approach to target marketing-choosing the preferred generic customer : a model of shareholder value performance

In recent years the contribution of the marketing function has changed and interest now centres on its contribution to a firm’s financial performance. The Marketing Science Institute in the USA has stated that it is the number one marketing issue facing corporate America. The Australian Marketing Institute is promoting a set of marketing metrics that will help Australian firms measure the function’s contribution to shareholder value creation. Much of the literature relates notions such as customer satisfaction and other marketing activities with a firm’s profit. A missing link appears to be the choice firms make in terms of which customer groups to target and the resultant impact on shareholder value performance. The generic customer groups comprise: existing customers, former customers and prospects. A review of the literature reveals that marketing costs and benefits vary across these groups. The challenge for management is to determine which group represents the best target and to allocate scarce marketing resources accordingly. The task is made even more challenging because the economic value of members within each group also varies and some product lines may be unprofitable and therefore, may not be worth pursuing. To generate superior shareholder value it may not simply be the case of acquiring the maximum number of new customers from any source but to find the appropriate mix of the generic customer groups and manage the individual customer relationships accordingly. This paper seeks to firstly summarise and review the recent literature on marketing and its relationship to shareholder value and secondly to propose a model for allocating marketing resources across generic customer groups in order to generate improved shareholder value performance. Importantly, the model not only covers increasing business with customers but also shedding customers or shedding the extent of business conducted with customers as means of generating shareholder value.

Plagiarism – can preventative measures and a commitment to the value of learning by academics and students reduce plagiarism in classrooms?

Plagiarism is an interruptive act in the teaching and learning value chain. This paper analyses the impact of both plagiarism and effective assessment in the learning value chain. Effective assessment is the positive outcome. Plagiarism negates or breaks the chain. Anecdotal evidence suggests the incidences of plagiarism are increasing in faculties across the Queensland University of Technology (QUT), and where every subject/unit outline includes a statement and warning to students of the penalties of this activity, deterrence tools do not overcome the harmful impact of plagiarism on the teacher/student learning relationship. A working party established in 2000 in the Faculty of Business at QUT, examined the literature, university policies, teaching and learning practices, and examples of plagiarism and penalties in order to identify the wider learning and assessment issues surrounding plagiarism and options for action and policy. A three-semester study of acts of plagiarism and wide consultation with staff presented the working party with an opportunity to develop a set of preventative measures, and also exposed the legal, cultural and accountability issues of diverse attitudes and values.

The paper presents the findings and recommendations from the investigation, and also proposes an interpretation of marketing theory of the impact of plagiarism on the teaching and learning value chain.

Ethical perspective on sustainable business practices

This paper considers contemporary business practice and its sustainable performance from the view of stakeholder value. Stakeholder value is a broad concept and implies that a company has responsibilities and commitments to many different internal and external stakeholders in the marketplace and society, not only to its investors and the owners of the company, but also to its employees, customers, suppliers, societies and the environment. This view underlines the need for organisations to, not only provide value, but do so in a sustainable and socially responsible manner.

In considering the stakeholder value perspective of contemporary business practice, the authors proffer that undertaking an ethical perspective in corporate business practices will result in long term sustainable and socially responsible performance that delivers superior stakeholder value. In order to operationalise this concept a model is developed based on five, separate but interconnected, elements: (i) Foundation, (ii) Communication, (iii) Guidance, (iv) Outcome, and (v) Reconnection. The authors emphasise that the model is iterative and acknowledge its elementary state, suggesting further development and refinement in the field of sustainable business practices from an ethical perspective.

International standards of business conduct: framework and illustration

Purpose: – The purpose of this paper is to describe the insights and a proposal into the structure of standards of business conduct and its intended applications.

Design/methodology/approach: – The case study is based upon an inductive content analysis of corporate ethics artefacts.

Findings: – It is concluded that the standards of business conduct may be highly prescriptive in world wide corporations, but that there should be an explicit commitment to a flexible and dynamic approach to the application of standards of business conduct.

Research limitations/implications: – An examination of the actual behaviour of a corporation's operations was beyond the scope of the present research, but such a study has potential for future research. This would open up the wider question of how corporations can minimise the gap between corporate intentions and actual outcomes in business operations across national and cultural boundaries.

Practical implications: – These diverse national and cultural contexts that world wide corporations encounter must be taken into consideration in the content of their standards of business conduct.

Originality/value: – The authors emphasise the concern of recognising that the contexts surrounding standards of business conduct are dynamic. Corporate codes of ethics should be regarded as dynamic artefacts. A framework of application is proposed.

Revisiting retail internationalisation drivers, impediments and business strategy

Purpose: – In the light of recent changes in the international environment, the purpose of this paper is to consider whether the drivers of, and impediments to, retail internationalisation and the business strategy adopted have also changed.

Design/methodology/approach: – Interviews were conducted with 12 UK and US retailers. These exploratory data were combined with a review of the literature to explore changes in the drivers and impediments of retail internationalisation.

Findings: – Findings of this study suggest that, while a variety of factors drive retail internationalisation, profit growth is the most dominant motivator. In terms of impediments to foreign expansion, domestic market conditions were a barrier to the initiation of foreign expansion, whilst the regulatory environment and previous experiences presented obstacles in the process of internationalisation. Interviewees also expressed a desire for increased standardisation, while acknowledging the need for a substantial degree of adaptation in response to cultural differences.

Research limitations/implications: – The research findings are limited in terms of their generalisability.

Originality/value: – Much of the existing research into retail internationalisation was conducted in the 1990s. Given the substantial changes that have occurred over the past 15 years, the value of this paper lies in the updating of knowledge.

Value perception in music information systems

When referring to the value that IS adds to business and provides to consumers, we often (implicitly or explicitly) pertain to monetary value. However, perspectives exist regarding the notion of value which go beyond the monetary significance and maintain a direct influence on businesses and their performance. This paper explores the concept of value, its importance in IS, and the importance of understanding of how IS stakeholders perceive value. The paper focuses on the challenge of studying value in IS -although value manifests in properties of an information system, it can only be experienced and perceived subjectively through sense perception, experience and judgement of the system stakeholders. To address this challenge, the paper suggests the existence of a clearly shifting trend in the perception of IS technology and comments on the social impacts of end-users (consumers) being absorbed into the value-creation process for an information system in the music industry.

The impact of small business on the environment

Objectives: Small businesses are estimated to contribute a significant proportion of global pollution, yet there is little empirical evidence to support this claim. The main aim of this research was to conduct an exploratory analysis of small business’s environmental impact in terms of waste, water and energy.

Prior work: Due to the negative impact small businesses are reported to have on the environment, their disengagement in environmental management practices has caused international concern. Much of the literature has concentrated on identifying the barriers and drivers of small business engagement. Little empirical work being conducted on the actual impact of they have on the environment or on the influence of the local context on their environmental practices.

Approach: A survey was developed and distributed to 466 small businesses within two light industrial areas in Perth Western Australia, which achieved a response rate of 87%. This survey will be replicated after a 12 month intervention is conducted. The two light industrial areas were selected as their Local Government Authorities are looking for businesses within their boundaries to improve their environmental performance.

Results: Initial results suggest that the small businesses do have a considerable impact on the environment in terms of waste disposal. Moreover, their environmental management practices concerning waste, energy and water were found to differ depending on the local contexts in which the small businesses operate.

Implications: As small businesses are both economically and socially important to all major industrialised nations, empirical research that provides evidence of their impact on the environment is critical. The implication here is that if the context in which these businesses operate influences the practices employed, developing strategies that acknowledge the influence and consequences of context may be more effective than those currently available. Differences identified within practices suggest that greater awareness and education is needed on water management than energy or waste, as this is the area where small business owner-managers have shown they have less knowledge and/or active engagement.

Value: This research is valuable in three ways. First, it adds to the knowledge of small business impact on the environment. Second, it identifies that context may be a factor that needs to be considered when developing strategies to engage small businesses in environmental management. Finally, it shows that the environmental management of water is the least well established environmental priority of small businesses at this time.

The business case for incorporating sustainability in office buildings : the adaptive reuse of existing buildings

The effect of climate change and global warming has received increased attention in society with constant reminders about the importance of energy efficiency and sustainability in buildings. Whilst the focus is often placed on smaller items such as plastic bags, air conditioners and motor vehicles, the emphasis has recently shifted to structures in the built environment. Office buildings have been identified as contributing significantly to global warming during their building lifecycle with a substantial contribution to CO2 omissions. In response, building designs and construction techniques have evolved over time to improve energy efficiency and reduce CO2 omissions. Whilst property valuers, managers and analysts must remain up-to-date regarding changes, relatively little research has been conducted about whether and how increased sustainability, such as signified in a Green Star rating affects a property’s highest and best value and long-term lifecycle. This study investigates the degree to which sustainability is understood in the property marketplace, especially in relation to property values with the emphasis placed on a cost- benefit analysis from both an owner’s and tenant’s perspective. Whilst it may be argued that incorporating sustainability into a new office building is cost prohibitive on a financial cost-benefit analysis, often various minor steps can be taken to upgrade the sustainability of an existing building. This project examines recent trends in capital expenditure to increase the sustainability of offices and where Green Star ratings have been applied to establish whether any corresponding increase in value is evident. In order to develop a researchframework, a thorough literature review will be conducted of recent Australian and overseas studies. This will enable links between sustainability and office buildings to be highlighted, and vitally how they affect a property’s value in both the short and long-term.

Investor perception of the business case for sustainable office buildings : evidence from New Zealand

Over recent years the global market for sustainable commercial property has been growing in importance, with rapid growth occurring overseas that has led to substantial changes in the property markets. The New Zealand property industry has been recently introduced to the concept of sustainability, and although still at an early stage is already noticing the accelerating uptake of sustainability in the industry. Although certain measures have been taken by the New Zealand Green Building Council and government mandates, there remains still a common assumption that there is considerable hesitation and skeptism in the market from both an investor’s and a building owner’s perspective.

The research presented in this paper reports on the results of an investigation into the market perception toward sustainable buildings from the investment community in New Zealand. Property developers and investors from New Zealand were surveyed about their perception of sustainable buildings in New Zealand and their actions with regards to their own commercial portfolios, as well as the impact sustainability is having upon investment decisions. This paper presents the results of research conducted into the relationship between the elements of sustainability and the market value of an office building. The paper provides an insight into the rapidly evolving area of sustainability and office buildings, with the emphasis placed on the valuation process that seeks to assess a hypothetical purchaser’s perspective of this relationship.

Generic medicines in Australia : business dynamics and recent policy reform

This article describes the role of generics in the Australian prescription drug market and patterns of business activity in this dynamic market segment. The Pharmaceutical Benefits Scheme (PBS) is the central mechanism for the supply of prescription medicines. PBS prices are arrived at through cost-effectiveness analyses comparing new products against already available products and therapies. In this system, prices do not operate effectively as incentives for consumers or prescribers to choose generics, and their market share was historically marginal. In recent years, generics suppliers achieved a growing market share through discounts (trading terms) to pharmacists. It is estimated that around 30% of PBS scripts, representing around 15% of PBS sales by value, are now filled with generics. Complex changes to the PBS were introduced in 2007, to be phased in over the period to 2012, aimed at increasing the scope for cost benefits to the government, and to lesser extent consumers, from the expanding availability of generic medicines.

Small firm e-business adoption : a critical analysis of theory

Purpose – The paper critiques a range of theories and evaluates their ability to provide a lens for explaining the idiosyncratic nature of small firms and their e-business adoption decisions.

Design/methodology/approach – This literature review firstly summarises the existing research evidence that shows that small firms are idiosyncratic when it comes to e-business adoption. It then critiques theories commonly used in the literature in this field to examine the extent to which they take this small firm idiosyncrasy into account when explaining e-business adoption decisions.

Findings – The critical analysis shows that no commonly-used theory adequately explains small firm adoption of e-business because each omits important aspects of small firm idiosyncrasy. The analysis suggests that an integrated theoretical framework is needed. Preliminary ideas on this framework are provided.

Originality/value – Existing research generally applies a small number of selected theories and formulates research models of adoption factors. However, there is no systematic analysis of theories in this field and no consensus about theoretical frameworks. This paper addresses this limitation of the literature by critically evaluating the commonly used theories in terms of their individual suitability as lenses for explaining small firm e-business adoption.

Education and training as a social science : some empirical evidence in the Rosebank Business Precinct of Auckland New Zealand

Tertiary institutions should seek continuous feedback from industries to keep track of the needs of businesses to provide education and training. Academics should stay in touch with businesses by networking and consulting. Holland and De Cieri (2006) refer to theories of child learning (pedagogy) to inform their understanding of andragogy, the study of adult learning. Adult learners would be continuous learners and would move in and out of formal education according to individual needs or life circumstances, job requirements or career development. In designing programmes and up-grading curricula, these are important factors to bear in mind so that programmes “cater” for these learners as well.

This study was financed by Auckland City Council focussing on Auckland’s Rosebank Business Precinct (ARBP). The surrounding communities, particularly Mäori, Pacific peoples and recent migrants, experience disparities in employment. Our research questions were:
• Is there a skills match between the present-day workforce and actual business needs over the medium term?
• What can these data tell us about Rosebank’s trajectory as a skilled business cluster and about its future workforce requirements?
• What education and training will be necessary for these organisations to maintain their competitive advantage and profit margins?

The target population were the 500-600 businesses operating on Rosebank Road. A total of 529 businesses were identified. Interviews with 102 companies with a 36-question questionnaire were conducted. The sampling frame was owner-managers (senior, non-shareholding managers). Of the respondent firms, 68.75% had vacancies for up to 3 months and 31.24% vacancies for 6 months.

This paper highlights areas identified in the ARBP for developing programmes and curricula for tertiary institutions to provide employable students with the right knowledge, skills and attributes (KSAs) to grow existing ventures. A fine balance must be struck between human and organisational needs. In the analysis and discussion we point out what education or training is necessary for the ARBP to provide greater efficiencies and subsequent improvement to their profit levels by current and future employees entering the workforce; well “equipped” employees with knowledge and skills to add value in their organisations. Recommendations, future perspectives and conclusions form the last part of this paper

Virtual communities of enterprise value creation potential for regional clusters

The research examines regionally networked small business practices. A new concept Virtual Communities of Enterprise is proferred to explain the nature of knowledge sharing both interpersonally and online, and its potential for creating value for small businesses and their regions. Social capital emerges as an essential pre-requisite for accessing value.

Business ethics : practical proposals for organisations

A review of ethical literature demonstrates that the material presented to date is largely based upon theoretical and empirical research. While this information has contributory value, the information produced is largely observational rather than practical. Managers are anxious to receive assistance with the mechanisms by which ethics can be integrated into their organisations. Utilising the recent experience of the author with a large utility company in Asia committed to developing an ethical programme to enhance ethical awareness in their organisation, this paper intends to review current systems and procedures available to managers for integrating ethics into business. In addition to reviewing mechanisms for promoting an ethical climate, where appropriate, reference will be made to prior research and specific organisations where these practices have been used successfully. The paper concludes with a set of summary recommendations for managers embarking on the introduction of an ethical programme to their organisation.