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To migrate from traditional business planning, which confines itself to analyzing the current situation, to planning an innovation strategy, which incorporates innovation…
To migrate from traditional business planning, which confines itself to analyzing the current situation, to planning an innovation strategy, which incorporates innovation and uncertainty, you need more than a map—you need an atlas.
Notwithstanding the relevance of managerial control systems (MCS) in any organization, as well the distinctive role they can play in family business, due to its specific…
Notwithstanding the relevance of managerial control systems (MCS) in any organization, as well the distinctive role they can play in family business, due to its specific features, the literature rarely dealt with the role and characteristics of MCS in family business. Taking into account previous contributions from different disciplines (organization, management accounting, and family business), the current work aims to better understand the state of the art about research in the field of MCS in family business in order to identify main research gaps and propose future research directions.
Forty-five articles have been analyzed, which were issued in 29 sources. Research findings show that the literature on MCS in family business is limited and not very conclusive. Some authors focused on the type of controls, other authors outlined the role of MCS in managerialization and the relation with professionalization. A few studies focused on some specific mechanisms, especially strategic planning and compensation. Some contributes dealt with MCS’ determinants and impacts. Differences between family and non-family firms were proposed. However, a clear and organized picture of the features of MCS in family firms, their determinants, and impacts has not yet been developed. Particularly, the impact of the distinctive features of family business on MCS represents an underdeveloped research field along with how MCS can be differently developed and used in different kinds of family firms. In the light of findings of the literature review, we propose a reference research framework on MCS in family business.
Compliance is key to the operation and reputation of the financial services sector and is now completely embedded in the way financial services organisations carry on investment business. It is also fundamental to the Financial Services Authority (FSA) in seeking to achieve its regulatory objectives as set out in SS. 3‐6 of the Financial Services and Markets Act 2000. A great deal has been written on the topic of compliance and the core objective of this paper is to review and comment on the current approach to compliance which has evolved since the introduction of the Financial Services Act 1986. It notes the change of emphasis by the FSA from individual compliance competence to organisational compliance competence. It focuses on conduct of business regulation and highlights the importance of training and competence to compliance and explains how the regulatory approach has been changing from a rules‐based approach to a more flexible ethical one.
The purpose of this paper is to review a popular business handbook – The Business Guide – by James L. Nichols, first published around the turn of the twentieth century…
The purpose of this paper is to review a popular business handbook – The Business Guide – by James L. Nichols, first published around the turn of the twentieth century. The analysis is geared toward determining how it fits within the development of marketing thought and education.
A review of the marketing history literature focusing on marketing thought, education and practice around the turn of the twentieth century is conducted. The content of The Business Guide is analyzed and compared with the themes reflected in the literature review.
Most editions appeared in the era just proceeding the emergence of marketing as distinct discipline. It is unlikely that it had any appreciable influence on the development of marketing thought. However, it was used as a textbook at North-Western College in Naperville, IL, and may have been at other early business education programs in the USA and Canada. Nichols’ treatment of marketing topics was consistent with the era. It reflected commodities and functional views. For him, marketing was primarily distribution along with advertising, pricing, product management and credit. Consistent with modern marketing philosophy, Nichols placed heavy emphasis on ethics.
Despite the fact that this book was published in multiple editions over several decades, it seems to have been largely forgotten. As far as is known, this paper is the only recent treatment of this historical artifact.
The purpose of this study is to explore the regulatory framework in China and the extent to which Chinese multinationals have implemented and disclosed their anti-bribery…
The purpose of this study is to explore the regulatory framework in China and the extent to which Chinese multinationals have implemented and disclosed their anti-bribery and corruption (ABC) compliance practices. This is done against the backdrop of the evolving international ABC compliance standards.
This study is based on detailed reviews of the ABC compliance standards of international organizations; legislation passed by the USA, the UK and Chinese Governments; seven semi-structured interviews with leading experts in the field; and comparisons of ABC program disclosures of four Chinese with four best-in-class western multinational corporations.
A high level of convergence was found in the ABC standards published by the international organizations. Several positive features were found in the Chinese ABC regulatory frameworks but our findings indicate that there is minimal disclosure around ABC compliance program practices. This paper shows that a transparent disclosure would represent an easy win for Chinese multinational corporations and contribute to raising their reputations internationally.
While there are numerous studies in the law literature on ABC compliance standards and the extent to which they are effective in achieving their objectives, this is an emergent area in management research, to which our study makes a contribution. Future research could explore how other emerging economies are tackling this important issue.
By proactively adopting ABC compliance practices, corporations can seize the ethical high ground and build solid reputations with their stakeholders.
It is believed that this study is the first academic study that compares Chinese and international ABC standards.