Working Capital Management: a Bibliometric Study

This thesis is a study of articles published in scientific journals about working capital management using bibliometric methods. The study was restricted to articles published in 1990–2010 that deal with the whole working capital management topic not a single sub-area of it. Working capital is defined as current assets minus current liabilities; sometimes also a definition of inventory plus accounts receivable minus accounts payable is used. The data was retrieved from the databases ISI Web of Science and Sciverse Scopus. Articles about working capital management were found 23. Content analysis, statistical analysis and citation analysis was performed to the articles. The most cited articles found in citation analysis were also analyzed by nearly same methods. This study found that scientific research of working capital management seems not to be concentrated to specific persons, organizations or journals. The originality and novelty in many articles is low. Many articles studied relation between working capital management and profitability in firms or working capital management practices of firms using statistical analyses. Data in articles was firms of all sizes, except in developing economies only big firms were used. Interesting areas for future research could be surveys made about working capital management practices in firms, finding of best practices, tools for working capital management, inventing or improving alternative views to working capital management like process-oriented view and firm or industry specific studies.

Making Sense of Shared Leadership. A case study of leadership processes and practices without formal leadership structure in the team context

Leadership is essential for the effectiveness of the teams and organizations they are part of. The challenges facing organizations today require an exhaustive review of the strategic role of leadership. In this context, it is necessary to explore new types of leadership capable of providing an effective response to new needs. The presentday situations, characterized by complexity and ambiguity, make it difficult for an external leader to perform all leadership functions successfully. Likewise, knowledge-based work requires providing professional groups with sufficient autonomy to perform leadership functions. This study focuses on shared leadership in the team context. Shared leadership is seen as an emergent team property resulting from the distribution of leadership influence across multiple team members. Shared leadership entails sharing power and influence broadly among the team members rather than centralizing it in the hands of a single individual who acts in the clear role of a leader. By identifying the team itself as a key source of influence, this study points to the relational nature of leadership as a social construct where leadership is seen as social process of relating processes that are co-constructed by several team members. Based on recent theoretical developments concerned with relational, practice-based and constructionist approaches to the study of leadership processes, this thesis proposes the study of leadership interactions, working processes and practices to focus on the construction of direction, alignment and commitment. During the research process, critical events, activities, working processes and practices of a case team have been examined and analyzed with the grounded theory –approach in the terms of shared leadership. There are a variety of components to this complex process and a multitude of factors that may influence the development of shared leadership. The study suggests that the development process of shared leadership is a common sense -making process and consists of four overlapping dimensions (individual, social, structural, and developmental) to work with as a team. For shared leadership to emerge, the members of the team must offer leadership services, and the team as a whole must be willing to rely on leadership by multiple team members. For these individual and collective behaviors to occur, the team members must believe that offering influence to and accepting it from fellow team members are welcome and constructive actions. Leadership emerges when people with differing world views use dialogue and collaborative learning to create spaces where a shared common purpose can be achieved while a diversity of perspectives is preserved and valued. This study also suggests that this process can be supported by different kinds of meaning-making and process tools. Leadership, then, does not reside in a person or in a role, but in the social system. The built framework integrates the different dimensions of shared leadership and describes their relationships. This way, the findings of this study can be seen as a contribution to the understanding of what constitutes essential aspects of shared leadership in the team context that can be of theoretical value in terms of advancing the adoption and development process of shared leadership. In the real world, teams and organizations can create conditions to foster and facilitate the process. We should encourage leaders and team members to approach leadership as a collective effort that the team can be prepared for, so that the response is rapid and efficient.

Indicent reporting in shipping. Experiences and best practices for the Baltic Sea

Incident and near miss reporting is one of the proactive tools of safety management. By analyzing incidents and near misses and by corrective actions, severe accidents can potentially be avoided. Near miss and incident reporting is widely used in many riskprone industries such as aviation or chemical industry. In shipping incident and near miss reporting is required by the mandatory safety management system International Safety Management Code (ISM Code). However, in several studies the conclusion has been that incidents are reported poorly in the shipping industry. The aim of this report is to highlight the best practices for incident reporting in shipping and to support the shipping industry in the better utilization of incident reporting information. The study consists of three parts: 1) voluntary, shared reporting systems in shipping (international experiences), 2) interview study at four shipping companies in Sweden and in Finland (best practices), 3) expert workshop on incident reporting (problems and solutions). Preconditions for a functional reporting system are an existing no blame culture, commitment of the top management, feedback, good communication, training and an easy-to-use system. Although preconditions are met, problems can still appear, for example due to psychological, interpersonal or nationality-related reasons. In order to keep the reporting system functioning, the shipping company must be committed to maintain and develop the system and to tackle the problems. The whole reporting process from compiling, handling and analyzing a report, creating corrective actions and implementing them has to be handled properly in order to gain benefits from the reporting system. In addition to avoiding accidents, the functional reporting system can also offer other benefits by increasing safety awareness, by improving the overall safety and working conditions onboard, by enhancing team work and communication onboard and between ships and the land-based organization of shipping companies. Voluntary shared reporting systems are supported in the shipping industry in principle, but their development in the Baltic Sea is still in its infancy and the potential benefits of sharing the reports have not been realized. On the basis of this study we recommend that a common reporting system be developed for the Baltic Sea area which all the ships operating in the area could use regardless of their flag. Such a wider system could prevent some of the problems related to the current national systems. There would be more incident cases available in the database and this would support anonymity and thus encourage shipping companies to report to a shared database more frequently. A shared reporting system would contribute to the sharing of experiences and to the wider use of incident information in the shipping industry.

Induction practices : experiences of newly qualified teachers

The thesis consists of four studies (articles I–IV) and a comprehensive summary. The aim is to deepen understanding and knowledge of newly qualified teachers’ experiences of their induction practices. The research interest thus reflects the ambition to strengthen the research-based platform for support measures. The aim can be specified in the following four sub-areas: to scrutinise NQTs’ experiences of the profession in the transition from education to work (study I), to describe and analyse NQTs’ experiences of their first encounters with school and classroom (study II), to explore NQTs’ experiences of their relationships within the school community (study III), to view NQTs’ experiences of support through peer-group mentoring as part of the wider aim of collaboration and assessment (study IV). The overall theoretical perspective constitutes teachers’ professional development. Induction forms an essential part of this continuum and can primarily be seen as a socialisation process into the profession and the social working environment of schools, as a unique phase of teachers’ development contributing to certain experiences, and as a formal programme designed to support new teachers. These lines of research are initiated in the separate studies (I–IV) and deepened in the theoretical part of the comprehensive summary. In order to appropriately understand induction as a specific practice the lines of research are in the end united and discussed with help of practice theory. More precisely the theory of practice architectures, including semantic space, physical space-time and social space, are used. The methodological approach to integrating the four studies is above all represented by abduction and meta-synthesis. Data has been collected through a questionnaire survey, with mainly open-ended questions, and altogether ten focus group meetings with newly qualified primary school teachers in 2007–2008. The teachers (n=88 in questionnaire, n=17 in focus groups), had between one and three years of teaching experience. Qualitative content analysis and narrative analysis were used when analysing the data. What is then the collected picture of induction or the first years in the profession if scrutinising the results presented in the articles? Four dimensions seem especially to permeate the studies and emerge when they are put together. The first dimension, the relational ˗ emotional, captures the social nature of induction and teacher’s work and the emotional character intimately intertwined. The second dimension, the tensional ˗ mutable, illustrates the intense pace of induction, together with the diffuse and unclear character of a teacher’s job. The third dimension, the instructive ˗ developmental, depicts induction as a unique and intensive phase of learning, maturity and professional development. Finally, the fourth dimension, the reciprocal ˗ professional, stresses the importance of reciprocity and collaboration in induction, both formally and informally. The outlined four dimensions, or integration of results, describing induction from the experiences of new teachers, constitute part of a new synthesis, induction practice. This synthesis was generated from viewing the integrated results through the theoretical lens of practice architecture and the three spaces, semantic space, physical space-time and social space. In this way, a more comprehensive, refined and partially new architecture of teachers’ induction practices are presented and discussed.

Sick leave prescribing practices in Finland

Background: Sick leave prescribing is a common task of doctors and being on sick leave results in notable economic consequences to society. However, there appears to be limited research into this field and the factors affecting sick leave prescribing practices of doctors. Aims: To examine the prescribing of sick leave by doctors and dentists, the extent of variation in practices, whether clinician-related factors and local structural factors affect variation, and the economic consequences of varying practices. Materials and methods: Questionnaire studies with 19 or 16 hypothetical patient cases were conducted among 165 primary health care (PHC) physicians, 356 occupational health care (OHC) physicians, 338 surgeons and 1132 dentists. Results: The difference between the lowest and the highest number of sick leave days prescribed for the 19 patient cases was almost four-fold in PHC physicians and surgeons and eight-fold in OHC physicians, which represents a societal cost of tens of thousands of euros. Some dentists did not prescribe sick leave to any of the 16 patient cases, and some prescribed nearly a hundred days altogether. The overall number of sick leave days OHC physicians prescribed was smaller than in PHC physicians. More days of sick leave were prescribed by those working in smaller municipalities than larger population centres. Conclusion: There was considerable variation in the sick leave prescribing practices of Finnish health care professionals. This means that patients may not receive equal social benefits. Sick leave carries considerable economic consequences, and unifying prescribing practices could bring significant cost savings to society.

The Cycle Times of Working Capital: Financial Value Chain Analysis Method

Interest towards working capital management increased among practitioners and researchers because the financial crisis of 2008 caused the deterioration of the general financial situation. The importance of managing working capital effectively increased dramatically during the financial crisis. On one hand, companies highlighted the importance of working capital management as part of short-term financial management to overcome funding difficulties. On the other hand, in academia, it has been highlighted the need to analyze working capital management from a wider perspective namely from the value chain perspective. Previously, academic articles mostly discussed working capital management from a company-centered perspective. The objective of this thesis was to put working capital management in a wider and more academic perspective and present case studies of the value chains of industries as instrumental in theoretical contributions and practical contributions as complementary to theoretical contributions and conclusions. The principal assumption of this thesis is that selffinancing of value chains can be established through effective working capital management. Thus, the thesis introduces the financial value chain analysis method which is employed in the empirical studies. The effectiveness of working capital management of the value chains is studied through the cycle time of working capital. The financial value chain analysis method employed in this study is designed for considering value chain level phenomena. This method provides a holistic picture of the value chain through financial figures. It extends the value chain analysis to the industry level. Working capital management is studied by the cash conversion cycle that measures the length (days) of time a company has funds tied up in working capital, starting from the payment of purchases to the supplier and ending when remittance of sales is received from the customers. The working capital management practices employed in the automotive, pulp and paper and information and communication technology industries have been studied in this research project. Additionally, the Finnish pharmaceutical industry is studied to obtain a deeper understanding of the working capital management of the value chain. The results indicate that the cycle time of working capital is constant in the value chain context over time. The cash conversion cycle of automotive, pulp and paper, and ICT industries are on average 70, 60 and 40 days, respectively. The difference is mainly a consequence of the different cycle time of inventories. The financial crisis of 2008 affected the working capital management of the industries similarly. Both the cycle time of accounts receivable and accounts payable increased between 2008 and 2009. The results suggest that the companies of the automotive, pulp and paper and ICT value chains were not able to self-finance. Results do not indicate the improvement of value chains position in regard to working capital management either. The findings suggest that companies operating in the Finnish pharmaceutical industry are interested in developing their own working capital management, but collaboration with the value chain partners is not considered interesting. Competition no longer occurs between individual companies, but between value chains. Therefore the financial value chain analysis method introduced in this thesis has the potential to support value chains in improving their competitiveness.

Narratives of Experience in Education: Living and Working Through Poverty in a Rural Community

In this study, I use my own experiences in education as a former elementary student, research assistant, and as a current secondary school teacher, to examine how living in a marginalised rural community challenged by poverty affected my formal education. The purpose of this study was to use stories to: (a) explore my formative elementary education growing up in a community that was experiencing poverty, and; (b) to examine the impact and implications of these experiences for me as a teacher and researcher considering the topic of poverty and education. This study used narrative inquiry to explore stories of education, focusing on experiences living and working in a rural community. My role in the study was both as participant and researcher as I investigate, through story, how I was raised in a marginalised, rural community faced with challenges of poverty and how I relate to my current role as a teacher working in a similar, rural high school. My own experiences and reflections form the basis of the study, but I used the contributions of secondary participants to offer alternative perspective of my interpretation of events. Participants in this study were asked to write about and/or retell their lived stories of working in areas affected by challenging circumstances. From my stories and those of secondary participants, three themes were explored: student authorship, teaching practice, and community involvement. An examination of these themes through commonplaces of place, sociality and time (Connelly and Clandinin, 2006) provide a context for other educators and researchers to consider or reconsider teaching practices in school communities affected by poverty.

Best Practices of Sport For Development: A Case Study of An African Organization

Sport-for-development is the active practice of achieving social ideals through the use of sport and other traditional development programs. The purpose of this thesis was to evaluate SFD best practices from the context of an African organization development project. The case was a development organization in Zambia, Africa that was utilizing sport within its strategy. The data collection and analysis framed using Curado and Bontis (2007) MIC Matrix, the Sport For Development International Working Group’s (2007) best practices model, and B. Kidd’s (2011) Sport-in-Development Logic Model. The research supports that a SFD project is multi-faceted and should include the employment of strategic community programming on the basis of collaborative and integrative sport, health care and education. Further, the researcher found that the best practices include setting specific goals and objectives, as well as instituting regular monitoring and evaluation strategies

On the health and wellbeing of single working women without children : an analysis of scientific and lay discourse

Cette thèse examine la façon dont on interprète la santé et le bien-être des travailleuses célibataires et sans enfant au sein de deux types de récits : ceux provenant d’études publiées dans des périodiques (récits scientifiques) et ceux provenant d’entrevues qualitatives avec des membres de ce groupe (récits profanes). Sur le plan démographique, leur nombre est significatif; elles représentent 28% des employées canadiennes. Par contre, leur santé/bien-être est peu visible dans les écrits de recherche. Dans les sciences sociales, plusieurs études portent sur l’expérience parfois éprouvante d’être un adulte célibataire vivant dans une culture orientée sur le couple et la famille. Elles mettent l’accent sur le stigma associé à ce statut. Certains suggèrent même que les pratiques de recherche peuvent contribuer à la perpétuation de représentations négatives à l’égard des célibataires. En ayant un profil qui pourrait être symbolique d’une déviation vis-à-vis des attentes normatives entourant la vie de couple ou de famille, les travailleuses célibataires et sans enfant semblent un point de repère utile pour évaluer cette dernière possibilité. S’attarder autant aux récits scientifiques que profanes permettrait d’explorer les tensions et convergences entre eux. Suivant cet objectif, un échantillon de 32 articles scientifiques et de 22 retranscriptions d’entrevues ont été analysés selon une approche d’analyse de discours guidée par les concepts de répertoire interprétatif (une façon cohérente d’aborder un sujet donné) et de position du sujet (une identité mise en évidence par une façon de parler ou d’écrire). Trois articles ont émergé de cette recherche. Suite à une analyse des thèmes communs utilisés dans l’interprétation de la santé/du bien-être du groupe en question, un répertoire interprétatif surnommé la famille comme référence a été identifié. Ce répertoire expliquerait notamment la tendance observée d’expliquer leur santé/bien-être en référant aux états et aux charactéristiques d’être parent ou partenaire. Cette pratique peut avoir l’effet de voiler leur vie privée ou de la construire comme étant relativement appauvrie. L’article 2 examine comment les membres de ce groupe construisent leur propre bien-être. Il identifie la notion d’équilibre entre plusieurs sphères de vie et une identité de femme dynamique comme éléments centraux aux récits sur leur bien-être. Ces derniers vont à l’encontre de la perception des célibataires ou des personnes sans enfant comme ayant des vies moins épanouies ou enrichies et qui ne sont pas touchées par des questions de conciliation travail-vie personnelle. Le troisième article rassemble les deux types de récits autour des sujets de l’emploi et du statut de célibataire en lien avec le bien-être. Il met en évidence de nombreuses similarités et divergences, et théorise la fonction de ces diverses constructions. En conclusion, j’avance qu’une perspective plus critique face au statut de couple ou familial et de ses aspects normatifs pourrait offrir à la recherche en santé publique un point de réflexivité à développer davantage.

A Study of the impact of ISO 9001:2000 on Quality Management Practices in Selected Organisations in Kerala

The research work which was carried out to study the impact of ISO 9001: 2000, in selected organisations in Kerala, spread over various types of activities, such as fabrication of aero space hardware, glass ware, construction industries, health care units etc, encompassing, government and private enterprises, public sector undertakings, small and medium scale industries and research and development establishments. The ambience, work culture and collaboration prevalent in these organisations were varying on account of the environment in which they have been working. Fifty percent of the organizations selected for the study had obtained the ISO 900 I: 2000-certification since seven years or more. The process of study undertaken could invoke interest in the respondents, when a brief explanation on the purpose and need of the study was given to them prior to conducting the survey. There has been total cooperation from the management and the employees of all the organisations for the conduct of the study. Personal discussions were held with the senior management to draw their total support and involvement for the study.

Materials Managenent Practices in Major Public Sector Undertakings in India

One of the basic functions of management is to employ capital efficiently so as to provide maximum customer service and earn a profit in the proces1s. It is possible to achieve these objectives in different ways with the given amount of capital, either by maximising the output or by maximising the margin of profit or by a combination of both these methods. This would mean that the management must try to make this capital work as fast as possible, which is often difficult to achieve under the present conditions of the factors of production. It is also not possible to increase extensively the margin of profit due to competition in business and in this process the capital turn over and productivity of capital often becomes totally ineffective. Several modern techniques have been developed and employed by managers to remedy this situation. Among these, materials management has become one of the most effective methods to achieve both the above goals. Materials management enables a manager to improve productivity of capital by reducing material costs, preventing blocking up of large working capital for long periods and improving the capital turn over This study examines the working of materials management departments in public sector undertakings in India and Suggests méthods to improve its efficiency.

“A Study on Human Resource Management Practices in Private Hospitals in Kerala”

The healthcare sector in Kerala is witnessing a spiralling growth due to the healthy economic development and the serious outlook of individuals towards personal health. Private sector is thriving exuberantly well since there is a wide gap between demand and supply for healthcare due to the lack of government initiatives. The proliferation of these private hospitals have paved the way for many unhealthy practices like poor working conditions, low wages, excess workload and lack of retirement and welfare measures to the employees. This state of affairs demanded a serious investigation into the functioning of the private hospitals in Kerala, especially on the human resource management practices, as the success of every organisation depends on the satisfaction level of its employees, which, in turn, will benefit the consumer, i.e., the patients. Hence the present study was undertaken to find out the extent of human resource management practices in private hospitals in Kerala with a view to suggest appropriate remedial measures wherever required

Benefits of Implementing Lean Practices and the Impact of the Lean Aerospace Initiative in the Defense Aerospace Industry and Government Agencies

In the 1980’s, many United States industrial organizations started developing new production processes to improve quality, reduce cost, and better respond to customer needs and the pressures of global competition. This new paradigm was coined Lean Production (or simply “Lean”) in the book The Machine That Changed The World published in 1990 by researchers from MIT’s International Motor Vehicle Program. In 1993, a consortium of US defense aerospace firms and the USAF Aeronautical Systems Center, together with the AFRL Materials and Manufacturing Directorate, started the Lean Aircraft Initiative (LAI) at MIT. With expansion in 1998 to include government space products, the program was renamed the Lean Aerospace Initiative. LAI’s vision is to “Significantly reduce the cost and cycle time for military aerospace products throughout the entire value chain while continuing to improve product performance.” By late 1998, 23 industry and 13 government organizations with paying memberships, along with MIT and the UAW were participating in the LAI.

Personnel Practices in Japanese Government

This paper examines key aspects of Japanese Government personnel practices, and draws comparisons with the practices in the U.S. civil service and, as appropriate, with other U.S. models. Particular reference is made to the practices of two major agencies in Japan, the Ministry of International Trade and Industry (MITI) and the Ministry of Posts and Telecommunications (MPT). As appropriate, selected government businesses practices other than personnel practices are noted.