Short-term Trading in Long-term Funds: Implications for Financial Managers

Most hospitality firms do not consider managing stock portfolios to be a main part of their operations. They are in the service business, using their real assets and the services provided by employees to create valuable experiences for guests. However, the need to focus on stock investments arises through those employees. Employees consistently rank benefits, including retirement benefits, among the top five contributors to job satisfaction and as a key consideration in accepting a job.1 It is not surprising, then, that more than 90 percent of companies with 500 or more employees offer retirement plans. The five largest hotel companies in the U.S. have over $10 billion in assets under management in their retirement plans, making these plans a key component in retirement investment decisions.

Reframing Scottish Football: Strategy and the short-term nature of the football industry.

Despite football being deeply entrenched in Scottish culture it is under-researched from a business perspective. This research develops a conceptual framework that views professional football clubs from a number of different perspectives. It draws on strategic management literature since this views the firm as the intersection between internal competence, customer perception and competition within an industry. A review of previous sports business research highlighted five main themes that were used to create a structure for the analysis: on-field performance, attendance, finance, the playing squad and the manager. These themes were used as frames to view the firms within the industry from a number of different perspectives. Each frame allows a different aspect of the firm to be considered singly in turn and then collectively to develop a deeper understanding of the existing frames in use within the industry. The research is based on a pragmatic philosophy that allows mixed methods to be combined to provide both an objective and subjective view of the industry. The subjective view was drawn from five interviews with senior figures within Scottish professional football. These participants were from a number of different roles and organisations within the industry to provide a balance of experiences. The views were triangulated with a descriptive analysis of secondary data from a number of industry sources to establish patterns within and between these frames. A peer group of six clubs was selected as they competed in the Scottish Premier League in each of the seasons within an eleven-year period (2000-2011). The peer group clubs selected were: Aberdeen, Dundee United, Heart of Midlothian (Hearts), Hibernian, Kilmarnock and Motherwell. By focussing on a small group of clubs with a similar on-field record a broad study across the five frames could be carried out in detail without the findings being influenced by the impact of relegation to a lower division or sustained participation in European football. Within each of the original five frames a number of sub-components were identified and linked to the framework; this expanded the content to reflect the findings of this project. There appeared to be little link between on-field performance and attendance although progress to the later stages of cup competitions allowed clubs to connect with fans who do not regularly attend. The relationship between a club’s income and wage bill should be expanded to include interest repayments since this expenditure can be used to highlight future financial problems caused by increased debt levels. Although all of the interview participants spoke with pride of the players that had progressed from the club’s youth academy to success at the highest level the peer group clubs only produced one player each season that played more than ten matches for the club. Almost half of the players signed from the youth academy left the club without playing for the 1st Team. The importance of the relationship between the manager and club chairman was highlighted, although the speed with which managers were appointed suggests that little consideration was given to this before offering a contract. Once appointed there appeared to be little clarity over the job description and areas of responsibility. Several of the interviewees brought experience from other businesses to football but admitted that short-term decision making and entrenched behaviour made change difficult. The conclusion of the research is that by taking a firm-wide view of the club, longer-term decisions can be taken within football. Player development and supporter relationships were both identified as long-term processes that are impacted by the current short-termism. With greater role clarity for managers and a mixture of short and long-term objectives those involved in the industry are more likely to have opportunities to learn from experience and performance, across the different frames, will improve as a result.

How middle managers contribute to strategy formation process: connection of strategy processes and strategy practices

The role of middle management is essential when managing integrative and emergent strategy formation processes. We stand out the importance of its role connecting micro and macro organizational level offering a very important contribution when examining the strategy-as-practice perspective and integrative strategy formation process. The main goal of this research is to analyse the relationship between the integrative strategy formation process and the roles of middle management under the strategy-as-practice perspective. To check it out we adopted a qualitative methodology droving a case analysis in a Spanish University. Data was collected by means of personal interviews with members of different levels of the Institution, documents analysis and direct observation. In advance of some results we find out that the University develops an integrative strategy formation process and confers to middle management an important role extended all over the organization.

Gestão de recursos humanos na indústria do turismo em Portugal: tendências futuras do capital humano: um estudo exploratório em unidades hoteleiras no Distrito de Coimbra

No setor do turismo, devido a evolução social e tecnológica, surgiram exigências relativamente ao conhecimento, inovação, informação e qualidade, que resultaram numa maior procura de perfis profissionais adaptados às necessidades a médio prazo (Eurico, 2012). Assim, as unidades hoteleiras têm sentido uma forte necessidade de recrutar e reter pessoas qualificadas e capazes de antecipar múltiplos fatores decisivos na satisfação do cliente. Neste sentido, o presente estudo procura explorar e compreender as tendências futuras ao nível do Capital Humano na indústria do Turismo, mais especificamente no que respeita as unidades hoteleiras, tendo como amostra unidades localizadas no distrito de Coimbra. A análise incidiu nas competências específicas requeridas no setor, qualificações, formação profissional, recrutamento e seleção, sistema de remuneração e recompensa e do sistema de progressão na carreira. Assim, foi escolhido para o presente estudo a metodologia qualitativa, em que os dados foram recolhidos a partir do inquérito por entrevista realizado a sete Diretores e um assistente de direção de oito unidades hoteleiras no Distrito de Coimbra. Para o tratamento dos dados foi aplicada a análise do conteúdo através do processo de preparação das entrevistas transcritas, que, após uma leitura exaustiva, foram transformados em unidades de análise que permitiram a criação de categorias dessas unidades. Após a criação de categorias de análise foi possível realizar a descrição através de uma síntese dos dados fazendo uso de citações diretas dos dados recolhidos. Por fim, foi realizada a interpretação dos dados que traduz-se na relação das categorias das unidades de análise e a fundamentação teórica presente neste estudo (Santos, 2012). Os resultados obtidos a partir deste estudo revelam que os requisitos exigidos para os colaboradores e para determinadas práticas de gestão de recursos humanos nas unidades hoteleiras atualmente e num futuro próximo serão essencialmente os mesmos. Todavia, foi possível estabelecer o perfil ideal dos futuros colaboradores das unidades hoteleiras e tendências de práticas de gestão de recursos humanos como formação e desenvolvimento, recrutamento e seleção, planos de progressão na carreira e sistemas de remuneração e recompensa. Foi igualmente possível verificar que a maioria das unidades hoteleiras analisadas é de pequena e média dimensão não dispõe de um departamento de Recursos Humanos, sendo aplicada pelos gestores de topo.

High Priority Corridors for Access Management Near Large Urban Areas in Iowa, 2002

This research project was intended to produce a strategy for addressing current and future access management problems on state highway routes located just outside urban areas that serve as major routes for commuting into and out of major employment centers in Iowa. There were two basic goals: (1) to develop a ranking system for identifying high-priority segments for access management treatments on primary highways outside metro and urban areas and (2) to focus efforts on routes that are major commuting routes at present and in the future. The project focused on four-lane expressways and two-lane arterials most likely to serve extensive commuter traffic. Available spatial and statistical data were used to identify existing and possible future problem corridors with respect to access management. The research team developed a scheme for ranking commuter routes based on their need for attention to access management. This project was able to produce rankings for corridors based on a variety of factors, including proportion of crashes that appear to be access-related, severity of those crashes, and potential for improvement along corridors. Frequency and loss were found to be highly rank correlated; because of this, these indicators were not used together in developing final priority rankings. Most of the highest ranked routes are on two-lane rural cross sections, but a few are four-lane expressways with at-grade private driveways and public road intersections. The most important conclusion of the ranking system is that many of the poor-performing corridors are located in a single Iowa Department of Transportation district near two urban areas--Des Moines and Ames. A comprehensive approach to managing access along commuting corridors should be developed first in this district since the potential benefits would be highest in that region.

La construcción de sentido del inicio de un cambio estratégico en las organizaciones: el caso de la Universidad del Rosario

A través de un caso de estudio se explora cómo la construcción de sentido de un grupo de directivos, bajo una misma inspiración, generó el inicio de un cambio estratégico en una prestigiosa y reconocida universidad colombiana, la Universidad del Rosario. Una institución que en un momento determinado notó que estaba siendo percibida dentro del sector de la educación superior como pequeña, estática en el avance de algunas disciplinas del conocimiento y conservadora; en otras palabras, que estaba perdiendo el reconocimiento que usualmente la había acompañado. A través del estudio de este caso se utilizó la técnica de análisis de discurso para comprender la construcción de sentido del inicio de un cambio estratégico en las organizaciones. Esta técnica permitió analizar la información cualitativa derivada de las entrevistas que se realizaron en profundidad a la cúpula de directivos de la institución y a algunos destacados representantes del sector de la Educación Superior en Colombia. Los resultados sugieren que se hicieron presentes, efectivamente, algunas condiciones específicas que marcaron el inicio de un cambio estratégico en la institución y un viraje en su identidad e imagen. Hechos que se sustentaron en los miembros de un equipo que procuró interpretar y comprender los cambios existentes en el entorno global y local, y asimilar, igualmente, algunos destacados retos que se planteaban por aquella época, al interior de la propia Universidad

La gestión de relaciones con clientes (CRM): sector de seguridad privada

Esta tesis pretende describir la situación actual del sector de seguridad privada, al implementar y adoptar estrategias de CRM. Con una revisión confiable y el estudio de casos relacionados con el tema, lo cual permitirá constatar la realidad en cuanto la aplicación del modelo, en el sector de seguridad privada, según lo planteado por diversos autores. Los resultados obtenidos permitirán, de este modo, al sector y a sus gerentes, desarrollar estrategias que ayuden a la satisfacción de sus clientes y a la prestación de un mejor servicio. En el campo académico, este estudio servirá como guía teórico-práctica para estudiantes y profesores, de modo que permitirá afianzar conocimientos en cuanto al CRM, al marketing relacional y su uso en el sector de seguridad privada. Según este modelo la información acerca de los clientes, es una información estratégica vital para las organizaciones que ayuda a la toma de decisiones, pronosticar cambios en cuanto a demanda, además de establecer control sobre procesos en los que se involucre el cliente; de modo que la adopción e implementación de CRM, ayude a la empresa, en este caso a las del sector de seguridad privada, a estar atentos a la manera como se interactúa con el cliente y por ende mejorar el servicio, lo que tendrá repercusión en la percepción que tenga de la organización el cliente. De este modo, se ve como en la actualidad las estrategias de CRM definen el rumbo de una empresa, ayudando atraer nuevos clientes y además de esto, ayuda de igual modo a mantener felices a los clientes actuales; lo cual repercute en la demanda o el requerimiento del servicio, y así en una mejor rentabilidad para las empresas del sector. Razones por las que el sector de vigilancia se verá beneficiado por medio de las estrategias del CRM, lo que lo llevara a ofrecer mejores servicios a sus clientes.

Definition of an it project portfolio management methodology for a pharmaceutical company

Con la creciente popularidad de las soluciones de IT como factor clave para aumentar la competitividad y la creación de valor para las empresas, la necesidad de invertir en proyectos de IT se incrementa considerablemente. La limitación de los recursos como un obstáculo para invertir ha obligado a las empresas a buscar metodologías para seleccionar y priorizar proyectos, asegurándose de que las decisiones que se toman son aquellas que van alineadas con las estrategias corporativas para asegurar la creación de valor y la maximización de los beneficios. Esta tesis proporciona los fundamentos para la implementación del Portafolio de dirección de Proyectos de IT (IT PPM) como una metodología eficaz para la gestión de proyectos basados en IT, y una herramienta para proporcionar criterios claros para los directores ejecutivos para la toma de decisiones. El documento proporciona la información acerca de cómo implementar el IT PPM en siete pasos, el análisis de los procesos y las funciones necesarias para su ejecución exitosa. Además, proporciona diferentes métodos y criterios para la selección y priorización de proyectos. Después de la parte teórica donde se describe el IT PPM, la tesis aporta un análisis del estudio de caso de una empresa farmacéutica. La empresa ya cuenta con un departamento de gestión de proyectos, pero se encontró la necesidad de implementar el IT PPM debido a su amplia cobertura de procesos End-to-End en Proyectos de IT, y la manera de asegurar la maximización de los beneficios. Con la investigación teórica y el análisis del estudio de caso, la tesis concluye con una definición práctica de un modelo aproximado IT PPM como una recomendación para su implementación en el Departamento de Gestión de Proyectos.

Modeling growth strategy in a biotechnology startup firm

The top managers of a biotechnology startup firm agreed to participate in a system dynamics modeling project to help them think about the firm's growth strategy. The article describes how the model was created and used to stimulate debate and discussion about growth management. The paper highlights several novel features about the process used for capturing management team knowledge. A heavy emphasis was placed on mapping the operating structure of the factory and distribution channels. Qualitative modeling methods (structural diagrams, descriptive variable names, and friendly algebra) were used to capture the management team's descriptions of the business. Simulation scenarios were crafted to stimulate debate about strategic issues such as capacity allocation, capacity expansion, customer recruitment, customer retention, and market growth, and to engage the management team in using the computer to design strategic scenarios. The article concludes with comments on the impact of the project.

A study on human error in the interaction with the computer systems

The term human factor is used by professionals of various fields meant for understanding the behavior of human beings at work. The human being, while developing a cooperative activity with a computer system, is subject to cause an undesirable situation in his/her task. This paper starts from the principle that human errors may be considered as a cause or factor contributing to a series of accidents and incidents in many diversified fields in which human beings interact with automated systems. We propose a simulator of performance in error with potentiality to assist the Human Computer Interaction (HCI) project manager in the construction of the critical systems. © 2011 Springer-Verlag.

Enriching the Case Study Approach: Expert Perspectives from European Hospitality Industry Managers. ACES Working Papers, August 2010

For my undergraduate and graduate hospitality industry management courses, I planned to supplement frequent case study discussions and role plays with video-recorded insights from successful international and domestic hospitality managers. In these courses, numerous business topics are reviewed utilizing active learning approaches, with specific application to the hospitality industry.

The role of manufacturing and market managers in strategy development:lessons from three companies

According to researchers and managers, there is a lack of agreement between marketing and manufacturing managers on critical strategic issues. However, most of the literature on the subject is anecdotal and little formal empirical research has been done. Three companies are investigated to study the extent of agreement/disagreement between manufacturing and marketing managers on strategy content and process. A novel method permits the study of agreement between the two different functional managers on the process of developing strategy. The findings consistently show that manufacturing managers operate under a wider range of strategic priorities than marketing managers, and that manufacturing managers participate less than marketing managers in the strategy development process. Further, both marketing and manufacturing managers show higher involvement in the strategy development process in the latter stages of the Hayes and Wheelwright four-stage model of manufacturing’s strategic role.

Strategic Human Resources Management Performance Metrics for Unit-Level Managers: An Exploratory Study of U.S Casual Restaurants

Many restaurant organizations have committed a substantial amount of effort to studying the relationship between a firm’s performance and its effort to develop an effective human resources management reward-and-retention system. These studies have produced various metrics for determining the efficacy of restaurant management and human resources management systems. This paper explores the best metrics to use when calculating the overall unit performance of casual restaurant managers. These metrics were identified through an exploratory qualitative case study method that included interviews with executives and a Delphi study. Experts proposed several diverse metrics for measuring management value and performance. These factors seem to represent all stakeholders’interest.

Service Management Concepts: Implications for Hospitality Management

In - Service Management Concepts: Implications for Hospitality Management – a study by K. Michael Haywood, Associate Professor, School of Hotel and Food Administration, University of Guelph, Ontario, Canada, Associate Professor Haywood initially proffers: “The study and application of hospitality management has progressed on its own for many years; however, managers are not immune to the knowledge gained from study of other service industries. The author synthesizes what is happening in the area of service management, looks at its relevance to hospitality management, and identifies a few important implications of service management for hospitality managers.” The author draws a distinction between non-denominated service management, and service management as it applies to the hospitality industry. This is done to make an apparent comparison, as many people would assume the two are one in the same. They are not, and the contrast works well here. “While much of what we already know about effective management applies to service industries, some of the traditional concepts of management are inadequate in solving the problems faced by service businesses,” Haywood points out. “If a body of knowledge to be known as service management already exists, or is being developed, where does it fit relative to hospitality management,” Haywood asks. According to John Bateson, Testing a Conceptual Framework for Consumer Service Marketing, there are four criteria used to judge service management. Haywood details these for you, the reader, by way of citation. Haywood points to the difficulty in pin-pointing the intangibles that underpin the service industry. Since service is a concept rather than a touchable good, such as inventory, problems arise for both the organization and the client. Haywood points to a classic study of four service industries in France to illustrate the problems, although no realistic suggestions address the issues. “Over the past few years a variety of system models have been developed to explain the service process, that is, how the service is designed, produced, delivered, and consumed,” Haywood offers. These models are depicted in Appendices A-E. In offering perspectives on how the hospitality industry can gain from the experiences of service management, Haywood observes: “Service management places particular emphasis on a strategic outlook. Hospitality firms would be wise to carefully examine how they are perceived in the marketplace vis-a-vis their service concept, position, competitive situation, and management’s leadership abilities.” “Learning from the experiences of other service firms can help keep a company on track, that is, providing needed and valued services,” he closes the thought.

Mentors: Helping Younger Managers up the Hospitality Ladder

Mentoring is a centuries-old concept. However, in the hospitality industry, with its fast pace and high pressures, mentors can be of benefit in the training of younger managers before burnout The author discusses both the problems and benefits of mentoring, and how the system can work in the industry.