Effective forms of market orientation across the business cycle:a longitudinal analysis of business-to-business firms

Macroeconomic developments, such as the business cycle, have a remarkable influence on firms and their performance. In business-to-business (B-to-B) markets characterized by a strong emphasis on long-term customer relationships, market orientation (MO) provides a particularly important safeguard for firms against fluctuating market forces. Using panel data from an economic upturn and downturn, we examine the effectiveness of different forms of MO (i.e., customer orientation, competitor orientation, interfunctional coordination, and their combinations) on firm performance in B-to-B firms. Our findings suggest that the impact of MO increases especially during a downturn, with interfunctional coordination clearly boosting firm performance and, conversely, competitor orientation becoming even detrimental. The findings further indicate that both the role of MO and its most effective forms vary across industry sectors, MO having a particularly strong impact on performance among B-to-B service firms. The findings of our study provide guidelines for executives to better manage performance across the business cycle and tailor their investments in MO more effectively, according to the firm's specific industry sector.

Sustainable business:key issues

Sustainable Business: Key Issues is the first comprehensive introductory-level textbook to address the interface between environmental challenges and business solutions to provide an overview of the basic concepts of sustainability, sustainable business, and business ethics. The book introduces students to the background and key issues of sustainability and suggests ways in which these concepts can be applied in business practice. Though the book takes a business perspective, it is interdisciplinary in its nature and draws on knowledge from socio-economic, political, and environmental studies, thereby providing a practical and critical understanding of sustainability in the changing paradigm of global business. It goes beyond the conventional theories of sustainability and addresses critical issues concerned with population, consumption and economic growth. It discusses realistic ways forward, in particular the Circular Economy and Cradle to Cradle frameworks. The book is both a theoretical and practical study guide for undergraduate and postgraduate international students of broad areas of sustainability, teaching ways to recognize opportunities for innovation and entrepreneurship at the intersection of environmental, economic, ethical, and social systems. It takes a strategic approach in applying the power of business methods and policy to address issues of global importance such as climate change, poverty, ecosystem degradation and human rights. This textbook is essential reading for students of business, management and sustainability courses. It is written in an engaging and accessible style, with each chapter including case studies, discussion questions, end of chapter summaries and suggestions for further reading.

A knowledge based system of principled negotiation for complex business contract

Automated negotiation systems can do better than human being in many aspects, and thus are applied into many domains ranging from business to computer science. However, little work about automating negotiation of complex business contract has been done so far although it is a kind of the most important negotiation in business. In order to address this issue, in this paper we developed an automated system for this kind of negotiation. This system is based on the principled negotiation theory, which is the most effective method of negotiation in the domain of business. The system is developed as a knowledge-based one because a negotiating agent in business has to be economically intelligent and capable of making effective decisions based on business experiences and knowledge. Finally, the validity of the developed system is shown in a real negotiation scenario where on behalf of human users, the system successfully performed a negotiation of a complex business contract between a wholesaler and a retailer. © 2013 Springer-Verlag Berlin Heidelberg.

Language policy and governmentality in businesses in Wales:a continuum of empowerment and regulation

In this paper, I examine how language policy acts as a means of both empowering the Welsh language and theminority language worker and as a means of exerting power over them. For this purpose, the study focuses on a particular site: private sector businesses in Wales. Therein, I trace two major discursive processes: first, the Welsh Government’s national language policy documents that promote corporate bilingualism and bilingual employees as value-added resources; second, the practice and discourse of company managers who sustain or appropriate such promotional discourses for creating and promoting their own organisational values. By drawing on concepts from governmentality, critical language policy and discourse studies, I show that promoting bilingualism in business is characterised by local and global governmentalities. These not only bring about critical shifts in valuing language as symbolic entities attached to ethnonational concerns or as promotional objects that bring material gain. Language governmentalities also appear to shape new forms of ‘languaging’ the minority language worker as selfgoverning, and yet, governed subjects who are ultimately made responsible for ‘owning’ Welsh.

Understanding innovation in outsourcing services

Recent years have witnessed an expansion in service industries such as finance, travel and retail. Firms in the services have shifted their traditional occupation with products to consider how value can be created and appropriated in the service industry [1]. In particular, information technology (IT) and IT-enabled business services have become central to a firm's ability to deliver value to its customers, driving firms to seek ways to improve their services and maintain their competitive position. In this regard, the last ten years have witnessed significant growth in the outsourcing industry which shifted from focus on low cost simple tasks such as coding to end-to-end delivery of services that range from IT services and customer services to more complex business services such as Finance and Accounting, Human Resources, Procurement, and knowledge-intensive services such as customer analysis and research services [2]. © 2012 Springer-Verlag.

Handbook of human resource management in emerging markets

Bringing together a diverse set of key HRM themes such as talent management, global careers and employee engagement, this remarkably wide ranging work on managing human resources in more than 20 emerging markets is written by world-leading experts in HRM in emerging markets and based on leading-edge research and practice.

Performance management and high performance work practices in emerging markets

In this chapter, we discuss performance management systems (PMSs) and high performance work systems (HPWSs) in emerging economies. We start by discussing PMSs, with specific emphasis on PMSs in global organizations. We follow this up with an introduction of HPWSs, and then discuss PMSs and HPWSs in emerging economies. While the list of emerging economies keeps changing, and is rather long, as one might expect, in this chapter we have concentrated on five key emerging economies – China, India, Mexico, South Korea, and Turkey. Performance management is the process through which organizations set goals, determine standards, assign and evaluate work, coach and give feedback, and distribute rewards (Fletcher, 2001). In this connection, organizations all over the world face the challenge of how best to manage performance, including finding ways to motivate employees to sustain high levels of performance. In other words, organizations must develop and implement PMSs that are appropriate for their environment in such a way that high levels of performance can be achieved and sustained over time (DeNisi, Varma and Budhwar, 2008). While all organizations need to address these issues, the way a firm decides to go about addressing these issues is dependent on its location and context. In other words, differences in local norms, culture, law, and technology, make it critical that organizations develop and/or adapt techniques, policies and practices that are appropriate to the setting (see for example, Hofstede, 1993).

Human resource management in China and India

The first decade of the twenty-first century has witnessed further growth in emerging markets, which is significantly influencing the global economic landscape. For the first time in almost two hundred years, it is in this decade that the emerging economies have caught up with, and raced ahead of, the developed ones in terms of gross domestic product. This is a trend that is likely to continue for some time as many of the developed economies struggle to recover from the global financial crisis. In particular, China and India as two fast growing economies are significantly contributing to the world economic growth and are the flag bearers of this transformation. Acknowledged as favourite destinations for global manufacturing (China) and services (India) related outsourcing, both nations offer huge growth opportunities in most products and services. However, in order to sustain their phenomenal economic growth of the past decades, both countries are facing a number of challenges to their human resource management (HRM). From a macro perspective, these issues tend to appear similar (e.g., attraction and retention of talent), but given the significant sociocultural, institutional, political, legal and other differences between the two nations, the logics underpinning the approaches to managing human resources issues appear somewhat different. This chapter therefore aims to highlight the key forces determining the nature of HRM in China and India. The chapter consists of three main sections, in addition to the Introduction and Conclusions.

Human resource management in emerging markets:an introduction

The shifting of global economic power from mature, established markets to emerging markets (EMs) is a fundamental feature of the new realities in the global political economy. Due to a combination of reasons (such as scarcity of reliable information on management systems of EMs, the growing contribution of human resource management (HRM) towards organisational performance, amongst others), the understanding about the dynamics of management of HRM in the EMs context and the need for proactive efforts by key stakeholders (e.g., multinational and local firms, policy makers and institutions such as trade unions) to develop appropriate HRM practice and policy for EMs has now become more critical than ever. It is more so given the phenomenal significance of the EMs predicted for the future of the global economy. For example, Antoine van Agtmael predicts that: in about 25 years the combined gross national product (GNP) of emergent markets will overtake that of currently mature economies causing a major shift in the centre of gravity of the global economy away from the developed to emerging economies. (van Agtmael 2007: 10–11) Despite the present (late 2013 and early 2014) slowdown in the contribution of EMs towards the global industrial growth (e.g., Das, 2013; Reuters, 2014), EMs are predicted to produce 70 per cent of world GDP growth and a further ten years later, their equity market capitalisation is expected to reach US$ 80 trillion, 1.2 times more than the developed world (see Goldman Sachs, 2010).

Future trends in human resource management in emerging markets

In many ways the emerging markets represent something of a new frontier for academics and practitioners alike, or as one author puts it, ‘a significant topic of interest for a multitude of constituencies’ (Alkire, 2014: 334). The very term itself ‘emerging markets’ is something of a portmanteau one built on a series of layered insights garnered from several academic fields and multiple levels of analysis. Originally coined as a term in the 1980s, albeit with several earlier linked terminologies, this is an evolving and diverse literature. Inherent in its diversity lies a whole series of opportunities, encompassing the purely theoretical through to the methodological and the analytical. Capturing the essence of this in his Editorial in the inaugural edition of The International Journal of Emerging Markets, Akbar (2006) noted that from an academic perspective the emerging markets as a context for the creation and execution of a sustainable research agenda represent ‘a heterogeneous group of economies and societies’ and an ‘important testing ground for our existing theories, models and concepts of business and management’ affording those who focus on them as a research location the opportunity for ‘the development of new theoretical contributions in the field’. In this volume, we have sought to bring some systematics to this evolving literature dedicated to charting HRM in these emerging markets.

Organizations in time:history, theory, methods

Book review: Organizations in Time, edited by R Daniel Wadhwani and Marcelo Bucheli, Oxford University Press, 2014. The title of this edited volume is slightly misleading, as its various contributions explore the potential for more historical analysis in organization studies rather than addressing issues associated with time and organizing. Hopefully this will not distract from the important achievement of this volume—important especially for business historians—in further expanding and integrating business history into management and organization studies. The various contributions, elegantly tied together by R. Daniel Wadhwani and Marcelo Bucheli in their substantial introduction (which, by the way, presents a significant contribution in its own right), opens up new sets of questions, especially in terms of future methodological and theoretical developments in the field. This book also reflects the changing institutional location of business historians, who increasingly make their careers in business schools rather than history departments, especially in Europe, reopening old questions of history as a social science. There have been several calls to teach more history in business education, such as the Carnegie Foundation report (2011) that found undergraduate business education too narrow in focus and highlighted the need to integrate more liberal arts teaching into the curriculum. However, in the contemporary research-driven environment of business and management schools, historical understanding is unlikely to permeate the curriculum if historical analysis cannot first deliver significant theoretical contributions. This is the central theme around which this edited volume revolves, and it marks a milestone in this ongoing debate. (In the spirit of full disclosure, I should add that even though I did not contribute to this volume, I have coauthored with several of its contributors and view this book as central to my current research practice.)