Private climate change reporting: an emerging discourse of risk and opportunity?

Purpose – This paper aims to explore the nature of the emerging discourse of private climate change reporting, which takes place in one-on-one meetings between institutional investors and their investee companies. Design/methodology/approach – Semi-structured interviews were conducted with representatives from 20 UK investment institutions to derive data which was then coded and analysed, in order to derive a picture of the emerging discourse of private climate change reporting, using an interpretive methodological approach, in addition to explorative analysis using NVivo software. Findings – The authors find that private climate change reporting is dominated by a discourse of risk and risk management. This emerging risk discourse derives from institutional investors' belief that climate change represents a material risk, that it is the most salient sustainability issue, and that their clients require them to manage climate change-related risk within their portfolio investment. It is found that institutional investors are using the private reporting process to compensate for the acknowledged inadequacies of public climate change reporting. Contrary to evidence indicating corporate capture of public sustainability reporting, these findings suggest that the emerging private climate change reporting discourse is being captured by the institutional investment community. There is also evidence of an emerging discourse of opportunity in private climate change reporting as the institutional investors are increasingly aware of a range of ways in which climate change presents material opportunities for their investee companies to exploit. Lastly, the authors find an absence of any ethical discourse, such that private climate change reporting reinforces rather than challenges the “business case” status quo. Originality/value – Although there is a wealth of sustainability reporting research, there is no academic research on private climate change reporting. This paper attempts to fill this gap by providing rich interview evidence regarding the nature of the emerging private climate change reporting discourse.

Creating a world class business through a merger of two equals: an interview with Paul Walsh, Chief Executive Officer of Diageo Plc

Purpose – The purpose of this paper is to explore, from a practical point-of-view, a number of key strategic issues that critically influence organisations' competitiveness. Design/methodology/approach – The paper is based on a semi-structured interview with Mr Paul Walsh, CEO of Diageo. Diageo is a highly successful company and Mr Walsh has played a central role in making Diageo the number one branded drink company in the world. Findings – The paper discusses the key attributes of successful merger, lessons from a complex cross boarder acquisition, rationale for strategic alliance with competitors, distinctive resources, and the role of corporate social responsibility. Research limitations/implications – It is not too often that management scholars have the opportunity to discuss with the CEOs of large multinationals the rational of key strategic decisions. In this paper these issues are explored from the perspective of a CEO of a large and successful company. The lessons, while not generalisable, offer unique insights to students of management and management researchers. Originality/value – The paper offers a bridge between theory and practice. It demonstrates that from Diageo's perspective the distinctive capabilities are intangible. It also offers insight into how to successfully execute strategic decision. In terms of originality it offers a view from the top, which is often missing from strategy research.

Private climate change reporting: a discourse of risk and opportunity

Purpose – This paper aims to explore the nature of the emerging discourse of private climate change reporting, which takes place in one-on-one meetings between institutional investors and their investee companies. Design/methodology/approach – Semi-structured interviews were conducted with representatives from 20 UK investment institutions to derive data which was then coded and analysed, in order to derive a picture of the emerging discourse of private climate change reporting, using an interpretive methodological approach, in addition to explorative analysis using NVivo software. Findings – The authors find that private climate change reporting is dominated by a discourse of risk and risk management. This emerging risk discourse derives from institutional investors' belief that climate change represents a material risk, that it is the most salient sustainability issue, and that their clients require them to manage climate change-related risk within their portfolio investment. It is found that institutional investors are using the private reporting process to compensate for the acknowledged inadequacies of public climate change reporting. Contrary to evidence indicating corporate capture of public sustainability reporting, these findings suggest that the emerging private climate change reporting discourse is being captured by the institutional investment community. There is also evidence of an emerging discourse of opportunity in private climate change reporting as the institutional investors are increasingly aware of a range of ways in which climate change presents material opportunities for their investee companies to exploit. Lastly, the authors find an absence of any ethical discourse, such that private climate change reporting reinforces rather than challenges the “business case” status quo. Originality/value – Although there is a wealth of sustainability reporting research, there is no academic research on private climate change reporting. This paper attempts to fill this gap by providing rich interview evidence regarding the nature of the emerging private climate change reporting discourse.

Design of a unified data with business rules storage model for OLTP and OLAP systems

This paper reviews the literature concerning the practice of using Online Analytical Processing (OLAP) systems to recall information stored by Online Transactional Processing (OLTP) systems. Such a review provides a basis for discussion on the need for the information that are recalled through OLAP systems to maintain the contexts of transactions with the data captured by the respective OLTP system. The paper observes an industry trend involving the use of OLTP systems to process information into data, which are then stored in databases without the business rules that were used to process information and data stored in OLTP databases without associated business rules. This includes the necessitation of a practice, whereby, sets of business rules are used to extract, cleanse, transform and load data from disparate OLTP systems into OLAP databases to support the requirements for complex reporting and analytics. These sets of business rules are usually not the same as business rules used to capture data in particular OLTP systems. The paper argues that, differences between the business rules used to interpret these same data sets, risk gaps in semantics between information captured by OLTP systems and information recalled through OLAP systems. Literature concerning the modeling of business transaction information as facts with context as part of the modelling of information systems were reviewed to identify design trends that are contributing to the design quality of OLTP and OLAP systems. The paper then argues that; the quality of OLTP and OLAP systems design has a critical dependency on the capture of facts with associated context, encoding facts with contexts into data with business rules, storage and sourcing of data with business rules, decoding data with business rules into the facts with the context and recall of facts with associated contexts. The paper proposes UBIRQ, a design model to aid the co-design of data with business rules storage for OLTP and OLAP purposes. The proposed design model provides the opportunity for the implementation and use of multi-purpose databases, and business rules stores for OLTP and OLAP systems. Such implementations would enable the use of OLTP systems to record and store data with executions of business rules, which will allow for the use of OLTP and OLAP systems to query data with business rules used to capture the data. Thereby ensuring information recalled via OLAP systems preserves the contexts of transactions as per the data captured by the respective OLTP system.

The association between the investment opportunity set and corporate financing and dividend decisions: some Australian evidence

Summarizes previous research on the investment opportunity set (IOS) using price-based and investment-based proxies and variance measures; and develops hypotheses on the relationship between IOS, debt/equity ratios and dividend policies. Tests them on 1990-1998 data from listed Australian companies and explains the methodology, which builds on Gover and Gover (1993) by including more recent proxy variables. Finds no significant results from low growth firms, although some high growth firms show lower debt/equity ratios and dividends. Questions the robustness of existing IOS proxies in the Australian context and calls for further research.

The business skills of graduate surveyors

The research examines the role of lifelong learning and the increasing emphasis on the development of transferable key skills, which formed part of the background to the educational debate emanating from the Royal Institution of Chartered Surveyors “Agenda for Change” vision to elevate the status of the RICS qualification.

Extensive research and consultation by the RICS culminated in a series of initiatives to “reinforce the integrity and expertise of the RICS qualification” (RICS, 2003) including a proposal to introduce a mandatory postgraduate business qualification for newly qualified surveyors. The detailed proposal met with opposition from a range of stakeholders. However there appeared to be significant support for the concept of improving the management skills of graduate surveyors. The controversial aspects appeared to be the delivery methods and the definition of the appropriate content in a ‘one size fits all’ package.

The paper is drawn from the findings of a dissertation that examined by means of questionnaires to the differing stakeholder perspectives of employers, educators and students in one UK location, across a range of surveying professional disciplines. The paper provides an opportunity to explore and debate the difficulties in meeting the needs of a complex and wide ranging profession, whilst illustrating the importance of the vision of the RICS.

Opportunity and risk management for complex oil and gas developments

The thesis examines complex new oil and gas field developments, when growing the business from current capabilities and practice to the frontiers of undeveloped reservoirs. The contributors to complexity were identified, and an integrated methodology for opportunity and risk management, assessment and analysis was developed to produce more credible forecasts.

Contracting-agency analysis of the association between firm risk, investment opportunity set, corporate governance and firm performance

Tests the efficiency of corporate controls (board monitoring and incentive contracts) for growth or risk firms. By exploring the implications of controls and studying their interactive effects on firm performance, this study demonstrates how and why different firms use corporate governance controls to align managers' and shareholders' interests.

Dynamic due diligence : an entrepreneurial business planning method for evaluating mergers and acquisitions: theory, case application and general implications

This paper presents a method for conducting dynamic due diligence to evaluate Mergers and Acquisitions; demonstrates its effectiveness in a particular case; and extrapolates its theoretical and practical implications to the general case. It may be called the ‘ECIPP’ method - an acronym for: Establishing mandates; Creating projections; Identifying issues; Prioritizing procedures and Performing them.

Two established alternative due diligence methods are examined. The prevailing finance-theory-based procedure has the virtues of simplicity and elegance; the vice is abstraction. The prevailing practitioner-based regime has the virtues of thoroughness and concreteness but the vices of rigidity and inefficiency. Resolving the tradeoffs inherent in both static prescriptions provides an opportunity for a dynamic, innovative approach derived from grounded theory and an application of Hindle’s (1993) theory of venture renaissance through application of an enhanced paradigm of Entrepreneurial Business Planning. The ECIPP method retains simplicity, concreteness and thoroughness but eliminates abstraction, rigidity and inefficiency.

This is demonstrated in a case. ChildCo’s CEO had only one month to complete his M&A evaluation; no expertise or previous experience; severely limited budget for the exercise and had been flatly informed by prevailing M&A experts that what he wanted could not be done. Using the ECIPP method, the CEO and the author did it: on time, within budget and to the satisfaction of a previously skeptical board of one of the world’s largest multi-national companies including arguably the world’s most professional corporate M&A division.

The replicability logic of the case research permits two generalisations. (1) ECIPP extends the range and utility of Entrepreneurial Business Planning as a management technology, well beyond the constraints to which it is usually confined. (2) The ECIPP method of dynamic due diligence is an innovation worthy of mature consideration and further investigation by theorists and practitioners in the M&A field, in the disciplines of both Finance and Entrepreneurship and, well beyond, in the realms of general management theory, methodology and practice.

Sweet talking to ethnic customers : a field experiment on the links between entrepreneurial business planning, cultural sensitivity and sales growth

The purpose of this study was to test whether calculated inclusion of cultural sensitivity in a selected entrepreneurial business planning (EBP) process could increase sales growth in a test market and to explore the implications of a positive answer for the theory and practice of entrepreneurial business planning. Execution of a pretest-posttest control group experimental design measured and compared the implemented effectiveness of a planned entrepreneurial initiative based on cultural sensitivity. Though small in scale and limited in focus, the initiative qualified as an example of entrepreneurial business planning (EBP) and could be used to apply, test and extend aspects of the developing theory in this field of entrepreneurship research. Since the initiative was planned to overcome a culturally-defined impediment to business growth, it also offered opportunity to explore the specific importance of cultural variables in the context of EBP.

A planned sales-promotion was offered to a control group (receiving information in English) and a treatment group (who received the information in the language of ethnic origin). The sixty subjects had been chosen at random from a population of route-trade retailers of defined ethnic origins (Greek, Lebanese and Chinese) and randomly assigned to control and treatment groups. Monthly sales averages of the promoted product were measured before and after treatment. A Chi Square test was used to evaluate the relative proportion of the control and treatment groups who accepted the promotional offer. A two sample t-test procedure and complementary non-parametric Mann-Whitney test were performed to compare the mean sales-performance change of the two groups. Analysis showed that there was a significant increase in mean sales when the planned entrepreneurial initiative was communicated in the relevant language of origin.

The experimental results have specific practical relevance to revitalising the deteriorating route-trade segment of the Australian confectionery market through increasing the sales growth of wholesalers who are prepared to act entrepreneurially and include cultural sensitivity as an element in planning and implementation. By introducing cultural sensitivity as a necessary extension of a plan’s communications role, the results also have general theoretical implications for the developing paradigm of entrepreneurial business planning.

Business ethics and accounting students : Australia, South Asia and East Asia

Recent corporate collapses around the world show that there are no national boundaries for these occurrences. Australian corporate collapses including HIH Insurance, One.Tel, Ansett Australia and Harris Scarfe have raised public expectations of investigation of the causes of collapses (Mirshekary, Yaftian & Cross, 2005). The main reason for the collapse of HIH was mismanagement, with an emphasis more on the directors’ personal qualities such as integrity, honesty and morality rather than tougher legislation and rules. Accounting students are our future business leaders. The teaching of ethics in the classroom to multicultural groups of students provides an opportunity to facilitate the sharing of knowledge, and to increase interaction and debate around different approaches to ethics among students from different countries.
This study uses previous literature to explain the attitudes of accounting students towards academic and business/accounting ethics at an Australian university which is a multi-campus institution undertaking programs and activities at regional, national, international levels and by distance education.
This study reports the results of cross-cultural investigations of students’ ethical perceptions on moral values, academic and accounting/business vignettes, given that all students share the same learning opportunities, knowledge of ethics and interaction with their peers and lecturers. The results indicate no significant differences in responses between the students from Australia, South Asia and East Asia.

iTeach we learn via mobile apps : "a case study in a business course"

Mobile smart phones and Mobile applications (apps) can be seen as an added opportunity for education and for teachers in particular, this can be true if educational institutions are willing to enable this type of delivery mechanism. With the recent development of app technologies in today’s society and the shift towards mobile technologies (devices and applications), it seems hard to imagine better devices and tools that can grant students easy and on demand access to learning content. These smart devices and technologies are multitasking and can offer variety of educational apps that teachers and students are able to integrate into their daily learning activities and can carry with them anywhere. In this paper mobile apps and their integration in education are discussed, a case study on the use of three mobile apps (e-Lecture-Producer, Dropbox and QR Code) in an educational setting in a Business e-commerce course is described. Results and outcomes are discussed based on the results from the case study.

Exploring distributed leadership in the small business context

Entrepreneurial ventures are often established, controlled and led through the commitment of individuals. This article problematizes the nature of the form of leadership relevant for the small business as it matures. In this way, it explores the temporal dimension to the appropriateness of distributed leadership in the context of the entrepreneurial business. The authors critique the opportunity that distributed leadership can bring to the maturing business. They illuminate a dilemma for entrepreneurs as to whether they should give up control for a broader distributed process of leading or continue a practice of leading that resonates with their essence of being entrepreneurial - independent, controlling responsive and opportunity driven. This dilemma is addressed by suggesting the contextualization of distributed leadership may offer the maturing business. The article concludes by reviewing development approaches that contextualize intervention and suggests a research agenda to contribute to a greater understanding of how leadership can become distributed in the maturing business. © 2011 The Authors. International Journal of Management Reviews © 2011 British Academy of Management and Blackwell Publishing Ltd.

Analysis of inventory management in small business auto parts

The objective of this study was to analyze the production process and supply control in order to identify possible gaps and develop a method for managing supplies. The relevance of this research is on the benefits that can obtain by identifying the problems of supply control. The research method used was the case study, which was grounded on tripod semi-structured interviews, on-site observation, and document analysis. This methodology was very suitable because it can be analyzed and cross checked. The possibility of implementation of the proposal obtained from the theoretical framework, that together with the complementary actions suggested here, offers the opportunity to make the process more productive and profitable. This work allowed one to observe the weaknesses in managing the supply chain and at what points to work should be improved. It allowed to use some scientific models in the company object of study in order to improve supply management. © 2011 IEEE.

The software and information technology services industry: An opportunity for the economic autonomy of women in Latin America

The objective of this report is to understand the rationality that underpins public and business policies for promoting the IT and SIS industries and to determine whether they incorporate gender equality and/or provide incentives for women’s participation. The report also explores how this group of women is symbolically constructed within the firms, what issues are emphasized by the women themselves and what solutions or resources they propose for overcoming the problems. It then contrasts this discourse and intervention with the experiences, visions and demands of women leaders in the SIS sector. For this purpose, the policies, programmes and best practices of Europe are analysed and compared with instruments currently in place in Latin America and the Caribbean, in terms of their specific characteristics and degree of progress. Special attention is given to the cases of Argentina, Costa Rica and Colombia.