Development and reinforcement of a general management point of view-the capacity to view the firm from an overall perspective, in the context of its environment. Development of an understanding of fundamental concepts in strategic management: the role of the general manager, the levels and components of strategy, competitive analysis, and organizational evolution. Development of those skills…
Abstract In the paper we detail the reduced form or hazard rate method of pricing credit default swaps, which is a market standard. We then show exactly how the ISDA standard CDS model works, and how it can be independently implemented. Particular attention is paid to the accrual on default formula: We show that the original formula in the standard model is slightly wrong, but more importa…
The healthcare industry abounds in print (and multimedia) resources on the topic of qual- ity. A Google search for “healthcare quality books” yielded 19.3 million results in 0.21 seconds—a mind-boggling figure. Some of the results don’t refer to books, and many are repetitive, but their plenitude can’t be ignored. Despite the large number of healthcare qual- ity books available, relat…
Over the past decade, a large (and continually increasing) number of efforts (both research and development) have sought to investigate and exploit the use of Artificial Intelligence (AI) concepts and techniques in production management applications. In some cases, Al-based concepts have provided frameworks for making traditional Operations Research (OR) techniques more accessible and usable…
The American Academy of Actuaries’ Catastrophe Management Work Group was requested by the Coordinating with Federal Regulators Subgroup on Financial Issues of the National Association of Insurance Commissioners to develop a report to discuss how property and casualty insurers manage catastrophe risks. This monograph is in response to that request and makes the following observations: n C…
Preface The Project Risk Management Process, described herein, is intended to result in the effective management of project risks and opportunities during the entire project life cycle – from project inception to completion of construction. The project manager, project sponsor, and project team members jointly develop a risk register that enables them to identify, assess, quantify, prepar…
We offer a conceptualization of how and why corporate level strategic change may build on historical differentiation at business unit level. Design/methodology/approach: Methodologically, we report an historical case study of Nokia Corporation’s drastic business model transformation between the years 1987 and 1995. Findings: Our conceptual and historical work results in a process model of…
The purpose of this text is threefold. First, it is designed to help those individuals who have never taken a formal course in management. Although executives reading this text will probably have practical experiences in the field of management, they may be lacking in the conceptual foundation that would give them a deeper understanding of the concepts that frame those experiences. Before one c…
Organizations are facing exciting and dynamic challenges in the 21st century. In the gloabalized business, companies require strategic thinking and only by evolving good corporate strategies can they become strategically competitive. A sustained or sustainable competitive advantage occurs when firm implements a value – creating strategy of which other companies are unable to duplicate the…
The purpose of antitrust law is to promote competition and protect consumers from anticompetitive business practices. Enforcing antitrust rules thus requires an understanding of what constitutes an anticompetitive business practice; an understanding influenced by both legal precedent and broader knowledge of markets, companies, and competition. This Essay traces the influence of two academ…
This third edition of Strategic Human Resource Management has been substantially revised to incorporate the latest research and thinking. A number of chapters such as those concerned with strategic HRM in general in Parts 1 and 2 have been almost completely rewritten, as has Chapter 12 on reward strategies. A new chapter on enhancing organizational effectiveness has been included and revis…
Strategic management establishes an operational link between the enterprise’s overall strategy and more specific aspects of management, such as human resources management (HRM). In a way, the strategic vision is an extension of the systemic vision, which included various elements but did not integrate them from the outset into the enterprise’s overall strategy nor establish an operational l…
Risk is a reality of doing business. Whether large or small, public or private, domestic or international, companies today operate in a risk-filled world. In many cases, risk is necessary for long-term operational success; however, failure to control risk effectively can often lead to just the opposite, including damaged reputation, loss of profits, disruption in productivity or, in severe case…
The aim of this book is to provide an introduction to the theory and practice of management accounting and emphasize its role in making decisions. It is intended to primarily for non-accounting students who are pursuing a one or two semester basic management accounting course
In its “Overview of Enterprise Risk Management,” the Casualty Actuarial Society describes Enterprise Risk Management as: “...the discipline by which an organization in any industry assesses, controls, exploits, finances and monitors risk from all sources for the purposes of increasing the organization’s short- and long-term value to its stakeholders.” Similarly, COSO defines ERM as:…
This paper introduces a social network perspective to the study of strategic alliances. It extends prior research, which has primarily considered alliances as dyadic exchanges and paid less attention to the fact that key precursors, processes, and outcomes associated with alliances can be defined and shaped in important ways by the social networks within which most firms are embedded. It id…
This paper analyses 26 years of strategic management research published in Academy of Management Journal, Academy of Management Review, Administrative Science Quarterly and Strategic Management Journal. Through a content analysis, it studies the relationships between the subfields of strategic management. A multiple correspondence analysis provides a map of keywords and authors, and a frame…