A Kraft-index – kreatív városok – fenntartható vidék (The KRAFT Index: Creative Cities – Sustainable Regions)

A KRAFT-index: Kreatív városok – fenntartható vidék egy komplex mutatórendszer, amely a fejlődési tendenciát, hálózatosodást, a fontosabb szereplők együttműködési készségét és kapacitását, kreativitási potenciálját, valamint a szereplők szinergiáiból fakadó belső energiákat és lehetőségeiket jelzi. A város- és vidékfejlesztés sikerének zálogaként előtérbe állítja és méri az ún. „puha” tényezőket, úgymint a kreativitást, innovációs képességet, új tudás létrehozását, tudástranszfert, együttműködési készséget, bizalmat, kollektív kompetenciákat. A társadalmi, gazdasági és tudományos kapcsolatok és hálózatok sűrűsége, minősége és dinamizmusa a sikeres fejlődés és fejlesztés kulcsai: ezek ma már fontosabb tényezők, mint a fizikai távolság, az adminisztratív jogi határok vagy az ún. „kemény” indikátorok. Az index értékeli egy térség lehetőségeit arra, hogy az ott élők, dolgozók, alkotók és letelepedni kívánók életminőségét, a vállalatok minőségi munkaerő iránti igényét és a fenntarthatósági szempontokat egyaránt figyelembe véve fejlessze gazdaságát és versenyképességét. Három tulajdonságcsoportot mér: 1. kreativitiási és innovációs potenciál, az új tudás létrehozásának képessége, 2. társadalmi és kapcsolati tőke, hálózati potenciál és „összekapcsoltság”, valamint 3. fenntarthatósági potenciál. _____ The KRAFT Index: Creative Cities – Sustainable Regions is a complex indicator system to measure development tendencies, ‘networkedness’, cooperation inclination and capacity, creativity potential and possibilities arising from the synergies among actors. It highlights and gauges ‘soft’ factors, such as creativity, innovation capacity, knowledge production, knowledge transfer, willingness for cooperation, trust, and collective competences and perceives effective regional cooperation among economic and social actors as the measure of successful urban and rural development. The density, quality and dynamism of social, economic and academic networks are more important factors than physical distance, administrative legal barriers or ‘hard’ indicators. The index evaluates the potential of a region to develop its economy and competitiveness by considering the quality of life of its inhabitants, workers, producers and immigrants, the quality workforce requirements of companies and sustainability. It measures three groups of qualities: 1. creativity and innovation potential, the ability of knowledge production; 2. social and connection capital, network potential and connectedness; and 3. sustainability potential.

A magyar fiatalok jellemzése pénzügyi attitűdjeik és magatartásuk mentén – Vizsgálat a felsőoktatásban tanulók pénzügyi attitűdjeiről és magatartásáról = Characterization of the Hungarian youth with their financial attitudes and behaviours – A survey about the financial behaviour and attitudes of students

A pénzügyi piacok és termékek egyre komplexebbé válnak, ami együtt jár a pénzügyeket illető információs szakadék mélyülésével is – a lakosság egyre kevésbé képes pénzügyeiről körültekintő döntéseket hozni. Jelen tanulmány a magyar felsőoktatásban tanuló fiatalokat pénzügyi attitűdjeik mentén szegmentálja és jellemzi, annak érdekében, hogy hozzájáruljon a pénzügyi kultúra szintjét növelő programok sikerességéhez, legyen az állami indíttatású (pénzügyi edukáció) vagy a versenyszféra által vezérelt. A vizsgált fiatalok alapvetően három csoportba sorolhatók: (1) Konzervatívak, (2) Lázadók és (3) Tapasztaltak. A Konzervatívakra a stabil morális értékrend, alacsony kockázatvállalási hajlandóság jellemző, céljaik között egyaránt találunk rövid és hosszú távúakat is – informáltságuk, és ebből eredően pénzügyi ismeretszintjük alacsony, a hitelekkel szembeni attitűdjük negatív. A Lázadók csoportjára az „Élj a mának!” magatartás a jellemző, vagyis rövid távú céljaik vannak, kevésbé tudatosak, pénzügyi ismeretszintjük alacsony, ugyanakkor nyitottak az újdonságokra és a kockázatvállalási szintjük magasabb a másik két csoporténál. A Tapasztaltak csoportjára a tudatosság és a pénzügyi megfontoltság a jellemző – pénzügyi ismeretszintjük magasabb a másik két csoporténál. Náluk a hosszú távú célok dominálnak, de alacsony kockázatvállalási hajlandóság mellett. _____ Financial markets and financial instruments have become more and more complex in the last decades. Unfortunately, financial literacy of population cannot keep up with the innovation activity of financial sector. By segmenting and describing Hungarian young adults along their financial attitudes, the aim of this study is to provide recommendations to the programs aiming to enhance the development of financial literacy. According to the authors’ results, 18-25 year-old young adults can be categorized as (1) conservatives, (2) rebels and (3) experienced. Conservatives can be characterized by stable moral and values, low risktaking willingness and inappropriate financial knowledge. Both short and long term goals can be explored among their preferences. Conservatives have negative attitude to bank loans. The rebels can be described by the ancient Latin saying: “Carpe Diem”. They have short-term goals and the future financial stability is not an issue for them – their financial literacy is low. However, rebels are open-minded and their risk-taking willingness is greater than the other two group members. Despite of the low level of risk-taking willingness, the highest level of financial literacy is showed by the experienced group. They have long-term goals and are able to receive information about complex financial instruments.

Az árak észlelése és értékelése(Perception and Evaluation of Prices)

A 2008-ban kezdődött gazdasági válság a korábbiaknál is fontosabbá tette az árakat a vásárlók számára. Azt eddig is mindenki tudta, hogy az árak alapvetően befolyásolják a fogyasztók vásárlási döntését. Arra a kérdésre azonban, hogy miképpen, már nem mindig tudunk pontos választ adni. A közgazdaságtan szerint az árak csökkenése növeli a fogyasztók vásárlási hajlandóságát és fordítva, az árak emelkedése kisebbíti azt. A valóság azonban nem mindig írható le közgazdaságtani fogalmakkal vagy matematikai képletekkel. _______ Since the beginning of the global economic recession prices have become more and more important for sellers and buyers. To study the role of prices in consumer behaviour is a rather new field of marketing research. The paper starts out from the fact that prices can be regarded as a multidimensional stimulus, which influences the purchasing decision of consumers. The study describes the process how, in this multidimensional pricing environment, consumers get from the perception through the evaluation of prices to the purchasing decision. According to the model constructed by the author the perception of prices depends on the presentation of prices and on the willingness and ability of people to numerically perceive and evaluate the different presentations of prices. In the process how consumers get from the perceived prices through the excepted prices to the purchasing decision the perceived value plays the most important role. The perceived value is motivated by the internal and external reference prices and the perceived reference value. The paper comes to the conclusion that in recession and post recession times, companies are compelled to understand these processes better to be able to set their price points according to the changing buyers behaviour.

Bizalom az üzleti kapcsolatokban. A diadikus adatelemzés egy alkalmazása = Trust in business relations - an application of dyadic data analysis

A tanulmány arra a feltevésre épül, hogy minél erősebb a bizalomra méltóság szintje egy adott üzleti kapcsolatban, annál inkább igaz, hogy nagy kockázatú tevékenységek mennek végbe benne. Ilyen esetekben a bizalomra méltóság a kapcsolatban zajló események, cselekvések irányítási eszközévé válik, és az üzleti kapcsolatban megjelenik a cselekvési hajlandóságként értelmezett bizalom. A tanulmány felhívja a figyelmet a bizalom és a bizalomra méltóság fogalmai közötti különbségre, szisztematikus különválasztásuk fontosságára. Bemutatja az úgynevezett diadikus adatelemzés gazdálkodástudományi alkalmazását. Empirikus eredményei is igazolják, hogy ezzel a módszerrel az üzleti kapcsolatok társas jellemzőinek (köztük a bizalomnak) és a közöttük lévő kapcsolatoknak mélyebb elemzésére nyílik lehetőség. ____ The paper rests on the behavioral interpretation of trust, making a clear distinction between trustworthiness (honesty) and trust interpreted as willingness to engage in risky situations with specific partners. The hypothesis tested is that in a business relation marked by high levels of trustworthiness as perceived by the opposite parties, willingness to be involved in risky situations is higher than it is in relations where actors do not believe their partners to be highly trustworthy. Testing this hypothesis clearly calls for dyadic operationalization, measurement, and analysis. The authors present the first economic application of a newly developed statistical technique called dyadic data analysis, which has already been applied in social psychology. It clearly overcomes the problem of single-ended research in business relations analysis and allows a deeper understanding of any dyadic phenomenon, including trust/trustworthiness as a governance mechanism.

Value creation and appropriation through the Hungarian SME’s food chain

Value creation is the result of the continuous innovation activity of the entrepreneur, which is carried out mainly in form of open innovation among the agri-food SMEs. However value creation is not the ultimate goal of the enterprises. They are more interested in increased appropriation of the created value. Although the value creation (innovation) is very well explored and cultivated area of research, there are some voids in the field of agriculture and food industry: the behavioural aspect of open innovation is very rare. The value capturing is even much less studied, therefor our research approach is largely explorative one. Data are drawn from a survey carried out in Hungary among the agri-food SMEs in 2014. We use Structural Equation Modelling as well as ordered probit and semi-non parametric ordered probit models for analysing the data. Our results show that there is positive relationship between the knowledge sharing with chain partners and the innovativeness. We could explore that size of the firm, absorptive capacity and openness to foreign trade ambiguously affects value capturing. However trust in chain partners, reciprocity in knowledge sharing with chain partners and willingness to cooperate with buyers positively influence the appropriation of the created value.

Determinants of local government pension funding: Empirical evidence from Florida

The financial community is well aware that continued underfunding of state and local government pension plans poses many public policy and fiduciary management concerns. However, a well-defined theoretical rationale has not been developed to explain why and how public sector pension plans underfund. This study uses three methods: a survey of national pension experts, an incomplete covariance panel method, and field interviews.^ A survey of national public sector pension experts was conducted to provide a conceptual framework by which underfunding could be evaluated. Experts suggest that plan design, fiscal stress, and political culture factors impact underfunding. However, experts do not agree with previous research findings that unions actively pursue underfunding to secure current wage increases.^ Within the conceptual framework and determinants identified by experts, several empirical regularities are documented for the first time. Analysis of 173 local government pension plans, observed from 1987 to 1992, was conducted. Findings indicate that underfunding occurs in plans that have lower retirement ages, increased costs due to benefit enhancements, when the sponsor faces current year operating deficits, or when a local government relies heavily on inelastic revenue sources. Results also suggest that elected officials artificially inflate interest rate assumptions to reduce current pension costs, consequently shifting these costs to future generations. In concurrence with some experts there is no data to support the assumption that highly unionized employees secure more funding than less unionized employees.^ Empirical results provide satisfactory but not overwhelming statistical power, and only minor predictive capacity. To further explore why underfunding occurs, field interviews were carried out with 62 local government officials. Practitioners indicated that perceived fiscal stress, the willingness of policymakers to advance funding, bargaining strategies used by union officials, apathy by employees and retirees, pension board composition, and the level of influence by internal pension experts has an impact on funding outcomes.^ A pension funding process model was posited by triangulating the expert survey, empirical findings, and field survey results. The funding process model should help shape and refine our theoretical knowledge of state and local government pension underfunding in the future. ^

The effects of attribute quality information and sources of information on consumers' perceptions and behavior: A model of Pre-purchase Information Utilization in Service Physical Environments

The search-experience-credence framework from economics of information, the human-environment relations models from environmental psychology, and the consumer evaluation process from services marketing provide a conceptual basis for testing the model of "Pre-purchase Information Utilization in Service Physical Environments." The model addresses the effects of informational signs, as a dimension of the service physical environment, on consumers' perceptions (perceived veracity and perceived performance risk), emotions (pleasure) and behavior (willingness to buy). The informational signs provide attribute quality information (search and experience) through non-personal sources of information (simulated word-of-mouth and non-personal advocate sources).^ This dissertation examines: (1) the hypothesized relationships addressed in the model of "Pre-purchase Information Utilization in Service Physical Environments" among informational signs, perceived veracity, perceived performance risk, pleasure, and willingness to buy, and (2) the effects of attribute quality information and sources of information on consumers' perceived veracity and perceived performance risk.^ This research is the first in-depth study about the role and effects of information in service physical environments. Using a 2 x 2 between subjects experimental research procedure, undergraduate students were exposed to the informational signs in a simulated service physical environment. The service physical environments were simulated through color photographic slides.^ The results of the study suggest that: (1) the relationship between informational signs and willingness to buy is mediated by perceived veracity, perceived performance risk and pleasure, (2) experience attribute information shows higher perceived veracity and lower perceived performance risk when compared to search attribute information, and (3) information provided through simulated word-of-mouth shows higher perceived veracity and lower perceived performance risk when compared to information provided through non-personal advocate sources. ^

Sexual harassment of Miami-Dade County Public School students by school personnel

The purpose of this research was to assess the type and extent of sexual harassment of Miami-Dade County Public School (M-DCPS) students by school employees. In addition, the school system's existing procedures for handling such harassment were investigated, including students' awareness of and willingness to follow such procedures.^ Over 500 seniors from fourteen high schools around the county completed surveys which asked them to indicate whether or not they had received training on the topic of sexual harassment, whether or not they were aware of their school's policy on sexual harassment, whether or not they would feel comfortable reporting an incident of sexual harassment, whether or not they had experienced various forms of sexual harassment, and if they had been harassed, whether or not they reported the incident to a school official.^ Results indicated that sexual harassment of M-DCPS students by school employees is widespread, and the procedures that are currently in place to deal with this harassment are ineffective. Sixty-eight percent (68%) of the sample population indicated that a school employee had sexually harassed them; however, only four percent (4%) reported the incident to a school official. Responses indicated that this discrepancy exists because few students have received any training, few are aware of their schools' policies, and few are comfortable with the existing reporting procedures. ^

The role of death qualification in venirepersons' evaluations of aggravating and mitigating circumstances in capital trials

Death qualification is a part of voir dire that is unique to capital trials. Unlike all other litigation, capital jurors must affirm their willingness to impose both legal standards (either life in prison or the death penalty). Jurors who assert they are able to do so are deemed “death-qualified” and are eligible for capital jury service: jurors who assert that they are unable to do so are deemed “excludable” or “scrupled” and are barred from hearing a death penalty case. During the penalty phase in capital trials, death-qualified jurors weigh the aggravators (i.e., arguments for death) against the mitigators (i.e., arguments for life) in order to determine the sentence. If the aggravating circumstances outweigh the mitigating circumstances, then the jury is to recommend death; if the mitigating circumstances outweigh the aggravating circumstances, then the jury is to recommend life. The jury is free to weigh each aggravating and mitigating circumstance in any matter they see fit. Previous research has found that death qualification impacts jurors' receptiveness to aggravating and mitigating circumstances (e.g., Luginbuhl & Middendorf, 1988). However, these studies utilized the now-defunct Witherspoon rule and did not include a case scenario for participants to reference. The purpose of this study was to investigate whether death qualification affects jurors' endorsements of aggravating and mitigating circumstances when Witt, rather than Witherspoon, is the legal standard for death qualification. Four hundred and fifty venirepersons from the 11 th Judicial Circuit in Miami, Florida completed a booklet of stimulus materials that contained the following: two death qualification questions; a case scenario that included a summary of the guilt and penalty phases of a capital case; a 26-item measure that required participants to endorse aggravators, nonstatutory mitigators, and statutory mitigators on a 6-point Likert scale; and standard demographic questions. Results indicated that death-qualified venirepersons, when compared to excludables, were more likely to endorse aggravating circumstances. Excludable participants, when compared to death-qualified venirepersons, were more likely to endorse nonstatutory mitigators. There was no significant difference between death-qualified and excludable venirepersons with respect to their endorsement of 6 out of 7 statutory mitigators. It would appear that the Furman v. Georgia (1972) decision to declare the death penalty unconstitutional is frustrated by the Lockhart v. McCree (1986) affirmation of death qualification. ^

A worksite nutrition education program increased firefighters' knowledge and resulted in healthier attitudes toward fad diets

The effectiveness of a worksite nutrition education program to improve firefighters' knowledge and weight management strategies was evaluated. One hundred fifty Miami-Dade Fire Rescue workers recruited for the study were randomly assigned to an intervention or a control group. The intervention group attended four 30-minute worksite nutrition education sessions. A nutrition knowledge test completed by both groups before and after the intervention showed no significant differences between groups for pre-intervention nutrition knowledge. The post-intervention increase in nutrition knowledge was significantly greater (p < 0.001) for the intervention group (16.8% ± 8.2) compared to the control group (4% ± 8.9). No significant pre-intervention difference was found between the groups' predilection toward a ketogenic diet. A statistically significant (p < 0.01) reduction was seen in the intervention group's willingness (0.57 ± 1.06) to use this diet compared to the control group (0.02 ± 0.99). Results indicate that worksite nutrition education can improve firefighters' knowledge and weight reduction strategies. ^

The efficacy of the Ellison model as a retention initiative for first semester freshmen

The freshman year is the most critical year of matriculation for students in higher education. One in four freshman students drops out of higher education after the first year. In fact, the first two to six weeks of college represent a very critical transition period when students make the decision to persist or depart from the institution. Many students leave because they are unable to make a connection with the institution. Retention is often profoundly affected by student involvement in the academic environment, satisfaction with the campus climate and the institution's response to diversity. Therefore, the purpose of this study was to examine and evaluate an effective institutional response that promotes freshman retention and academic success. The tenets (diversity training, conflict management, and community building) of a mentoring model were applied to the freshman experience seminar class (experimental group) as a pedagogical method of instruction to determine its efficacy as a retention initiative when compared with the traditional freshman experience seminar class (comparison group). ^ The quantitative study employed a quasi-experimental research design based on Astin's (1993) I-E-O model. The model examined the relationships between the characteristics students bring with them to college, called inputs, their experiences in the environment during college, and the outcomes students achieved during matriculation. Fifty-two students enrolled in the freshman seminar class participated in the study. ^ Demographic data and input variables between groups were analyzed using chi-square, t-tests and multivariate analyses. Overall, students in the experimental group had significantly higher satisfaction (campus climate) scores than the comparison group. An analysis of the students' willingness to interact with others from diverse groups indicated a significant difference between groups, with the experimental group scoring higher than the comparison group. Students in the experimental group were significantly more involved in campus activities than students in the comparison group. No significant differences were found between groups relative to the mean grade point average and re-enrollment for fall semester 2001. ^ While the mentoring model did not directly affect re-enrollment of students, the model did promote student satisfaction with the institution, an appreciation for diversity of contact and it encouraged involvement in the campus community. These are all essential outcomes of a quality retention program. ^

Essays in environmental economic valuation and decision making in the presence of an environmental disaster

The first essay developed a respondent model of Bayesian updating for a double-bound dichotomous choice (DB-DC) contingent valuation methodology. I demonstrated by way of data simulations that current DB-DC identifications of true willingness-to-pay (WTP) may often fail given this respondent Bayesian updating context. Further simulations demonstrated that a simple extension of current DB-DC identifications derived explicitly from the Bayesian updating behavioral model can correct for much of the WTP bias. Additional results provided caution to viewing respondents as acting strategically toward the second bid. Finally, an empirical application confirmed the simulation outcomes. The second essay applied a hedonic property value model to a unique water quality (WQ) dataset for a year-round, urban, and coastal housing market in South Florida, and found evidence that various WQ measures affect waterfront housing prices in this setting. However, the results indicated that this relationship is not consistent across any of the six particular WQ variables used, and is furthermore dependent upon the specific descriptive statistic employed to represent the WQ measure in the empirical analysis. These results continue to underscore the need to better understand both the WQ measure and its statistical form homebuyers use in making their purchase decision. The third essay addressed a limitation to existing hurricane evacuation modeling aspects by developing a dynamic model of hurricane evacuation behavior. A household's evacuation decision was framed as an optimal stopping problem where every potential evacuation time period prior to the actual hurricane landfall, the household's optimal choice is to either evacuate, or to wait one more time period for a revised hurricane forecast. A hypothetical two-period model of evacuation and a realistic multi-period model of evacuation that incorporates actual forecast and evacuation cost data for my designated Gulf of Mexico region were developed for the dynamic analysis. Results from the multi-period model were calibrated with existing evacuation timing data from a number of hurricanes. Given the calibrated dynamic framework, a number of policy questions that plausibly affect the timing of household evacuations were analyzed, and a deeper understanding of existing empirical outcomes in regard to the timing of the evacuation decision was achieved.

Human resource development professionals' perceptions about the Academy of Human Resource Development Standards on Ethics and Integrity

Professional standards of ethics proclaim the core values of a profession, describe expected professional duties and responsibilities, and provide a framework for ethical practice and ethical decision-making. The purpose of this mixed, quantitative and qualitative, survey study was to examine HRD professionals' perceptions about the AHRD Standards on Ethics and Integrity, how HRD professionals used the Standards for research and decision-making, and the extent to which the Standards provided guidance for ethical decision-making. Through an on-line survey instrument, 182 members of AHRD were surveyed. The open-ended questions were analyzed using thematic analysis to expand on, inform, and support the quantitative findings. The close-ended questions were analyzed with frequency distributions, descriptive statistics, cross tabulations, and Spearman rank correlations. The results showed a significant relationship between (a) years of AHRD membership and level of familiarity with the Standards, (b) years of AHRD membership and use of the Standards for research, and (c) level of familiarity with the Standards and use of the Standards for research. There were no significant differences among scholars, scholar practitioners, practitioners, and students regarding their perceptions about the Standards. The results showed that the Standards were not well known or widely used. Nevertheless, the results indicated overall positive perceptions about the Standards. Seventy percent agreed that the Standards provided an appropriate set of ethical principles and reflected respondents' own standards of conduct. Seventy-eight percent believed that the Standards were important for defining HRD as a profession and 54% believed they were important for developing a sense of belonging to the HRD profession. Fifty-one percent believed the Standards should be enforceable and 61% agreed members should sign the membership application form showing willingness to adhere to the Standards. Seventy-seven percent based work-related ethical decisions on personal beliefs of right and wrong and 56% on established professional values and rules of right and wrong. The findings imply that if the professional standards of ethics are to influence the profession, they should be widely publicized and discussed among members, they should have some binding power, and their use should be encouraged.

The Current State of Argentina's Oil Industry

An oil wealthy country, Argentina has repeatedly tried and failed to capitalize on its potential. The unfortunate energy policies of subsequent Argentinean government and a lack of investment capital have been two of the main reasons that have significantly limited the production of export oil in the recent past. Yet, with recent discoveries and changes to the country’s hydrocarbon laws, there may be a new dawn for Argentina’s oil industry. Since 1999 when Argentina’s oil production peaked at approximately 800,000 barrels per day, there has been a 24 percent decrease in its oil output. The country’s oil reserves have also been in steady decline. Yet, the recently enacted reforms by Argentina’s government to incentivize foreign investment in the oil industry seem to be working, allowing investors to negotiate the terms of exploration directly with local governments. As a result, foreign investment is increasing, as well as new willingness to finance exploration of untapped reserves. Also, the discovery of shale oil in Argentina may provide the potential to become a key exporter in the region. Nonetheless, there are challenges that need to be overcome and it may be years before the various oil projects underway become profitable. The success of current oil projects, coupled with the potential of shale oil, new discoveries and the sustainability of the current energy policy reforms will likely determine if Argentina is finally able to fulfill its potential and exert itself as an oil exporter country in Latin America.

Managing Strategic Change

The essay - Managing Strategic Change – by K. Michael Haywood, Associate Professor, School of Hotel and Food Administration, University of Guelph, is initially characterized by Haywood as: “The ability to manage strategic change is critical for hospitality industry executives today. Executives must be capable of creating a vision of the future and implementing its direction. The author gives avenues for that management process.” “The effective management of strategic change is the major challenge confronting hospitality executives,” says Associate Professor Haywood. “Responding to a rapidly changing business environment and constantly evolving competitive threats and opportunities requires executives who can anticipate and plan for change.” According to Professor Haywood, the management of strategic change is a future imperative for hospitality executives. Implementing those changes will be even more difficult. “Survival and growth for many hospitality firms during the next decade will depend on the development of new strategic visions which can provide significant competitive advantages,” he says. “Strategies for managing costs and technology will be central to this task,” Haywood expands the thought. Haywood suggests two primary types of change hospitality executives should be aware of. First, is change that is anticipated, anticipatory change. Second, is the other more crucial type of change, strategic change in the face of crisis, or simply stated, reactive change. Professor Haywood describes the distinction between the two. In describing the approach that should be implemented in responding to an anticipatory change, Haywood says, “If time permits, and change is to be introduced gradually, pilots and trials should be run to assess the impact of the new strategy on the organization. These trials are used to create pockets of commitment throughout the corporation, build comfort levels with the new approach, and neutralize or win over potential opposition.” There are the obvious advantages to using an approach like the one described above, but there are disadvantages as well. Haywood discusses both. In addressing reactive change, Haywood offers that the process is a more - time is of the essence – condition, and that strong leadership and a firm hand on employee control is imperative. “Personal leadership, tough-mindedness, the willingness to ruthlessly abandon the familiar and the past, and the use of informal strategic levers are the hallmarks of sterling executive performance in such periods,” he says. “All these changes involve substantial technical, financial, and human risks,” Haywood wants you to know. “In order to make them, and still remain competitive, hospitality and travel-related corporations require executives capable of creating a vision of the future, able to sell that vision to their employees, and tough-minded enough to implement strategies to make the vision a reality.”