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Book part
Publication date: 23 May 2016

Lee Pugalis, Jenny Davidson, Fraser McLeay and Anna Round

Public entrepreneurship is increasingly being propounded as a key means of ‘doing more with less’ during the tough times associated with successive rounds of neoliberal…

Abstract

Purpose

Public entrepreneurship is increasingly being propounded as a key means of ‘doing more with less’ during the tough times associated with successive rounds of neoliberal restructuring and austerity. The primary aim of this chapter is to provide a critical-exploratory review of sponsorship – a disruptive interjection or particular form of public entrepreneurship.

Methodology/approach

Public entrepreneurship provides a useful theoretical frame for exploring some emergent ways of delivering public services in a post-Credit Crunch global operating environment. Empirical insights are derived from a single local authority in the United Kingdom.

Findings

There is a widespread concern that straitened economic conditions can engender the prevalence of short-term financial considerations at the expense of other objectives. Sponsorship, as a discrete form of public entrepreneurship in some circumstances has the potential to achieve multiple objectives, enriching public value. However, this is contingent of specific contextual factors.

Practical implications

By identifying some risks associated with disruptive interjections intended to open new paths for the sponsorship of public services as well as indicating some opportunities for risk reduction, it is hoped that our analysis may benefit public authorities when they are exploring or evaluating sponsorship ‘opportunities’.

Originality/value

Examining sponsorship through a public entrepreneurship conceptual frame has received limited research attention. Whether sponsorship is a ‘winning solution’ is contingent on the particular form of sponsorship as well as the specific time and place.

Details

New Perspectives on Research, Policy & Practice in Public Entrepreneurship
Type: Book
ISBN: 978-1-78560-821-6

Keywords

Book part
Publication date: 13 December 2010

Simon Robinson

Much of the work in business studies and responsibility has focused on the concept of corporate social responsibility (CSR). For a time, this was very much about the relationship…

Abstract

Much of the work in business studies and responsibility has focused on the concept of corporate social responsibility (CSR). For a time, this was very much about the relationship of business to the community. This has developed further into the so-called triple bottom-line approach stressing the importance of giving an account of the firm's relation to the social and physical environment as well as the financial state of the firm. Alongside this has been a stress on both the complexity of the external environment and the need to include the internal environment in any view of responsibility, not least in terms of health, safety, and well-being of the staff (Robinson, 2010). The concept of responsibility, however, goes beyond even these concerns.

Details

Reframing Corporate Social Responsibility: Lessons from the Global Financial Crisis
Type: Book
ISBN: 978-0-85724-455-0

Book part
Publication date: 24 October 2013

Bang Nam Jeon and Ji Wu

This chapter examines how foreign banks respond to domestic monetary policy in host countries during crisis periods, in particular, the response shown toward the Asian financial…

Abstract

This chapter examines how foreign banks respond to domestic monetary policy in host countries during crisis periods, in particular, the response shown toward the Asian financial crisis of 1997–1999 and the global financial crisis of 2008–2009. By observing 283 domestic and foreign banks in seven emerging Asian economies, we find that foreign banks are slower than domestic banks in adjusting the growth of their loans to changes in host monetary policy. This inertia by foreign banks is found to be more pronounced in the recent 2008–2009 global crisis than in the 1997–1999 Asian regional crisis, suggesting that the buffering/hampering effects of foreign banks on the effectiveness of the domestic monetary policy transmission mechanism become stronger in a recent global crisis originating from outside Asia than a regional crisis imploded within Asia a decade earlier. We also find that foreign banks’ lower sensitivity than domestic banks to host monetary policy during the crisis periods is heterogeneous, depending on factors such as the extent of the adverse impact of crises on parent banks, the scope of business operation by parent banks, and foreign banks’ mode of entry into host banking markets.

Details

Global Banking, Financial Markets and Crises
Type: Book
ISBN: 978-1-78350-170-0

Keywords

Book part
Publication date: 26 November 2009

John Barry

Robert J Antonio's ‘Climate Change, the Resource Crunch, and the Global Growth Imperative’ is an excellent starting point for examining the dominance of the ideology of ‘economic…

Abstract

Robert J Antonio's ‘Climate Change, the Resource Crunch, and the Global Growth Imperative’ is an excellent starting point for examining the dominance of the ideology of ‘economic growth’ within contemporary societies and social thinking against the background of the growing and profound socio-ecological crises such as climate change, resource scarcity and rampant consumerism. His article integrates contemporary scientific evidence about climate change and the ecological devastation being wrought by contemporary patterns of globalised carbon-fuelled and climate changing capitalism with classical and contemporary sociological theorising and calls for a greater engagement of social theorising with these defining challenges of the 21st century. In particular, Antonio's article begins the process of sociological theory re-engaging and re-interpreting classical sociology (Weber, Durkheim, Mead and Dewey) to develop forms of social theorising, which overcome a simplistic nature–cultural dualism and can equip critical social theory as fit for purpose for analysing the ecological, climate and resource ‘crunches’ facing all societies in the 21st century.

Details

Nature, Knowledge and Negation
Type: Book
ISBN: 978-1-84950-606-9

Book part
Publication date: 23 July 2019

Sabyasachi Dasgupta

The length of the debate regarding a new business idea and resource allocation between Ritu Jhajharia, Vinay Chaurasia and Sandeep Poonia on an evening in March 2016, was enough…

Abstract

The length of the debate regarding a new business idea and resource allocation between Ritu Jhajharia, Vinay Chaurasia and Sandeep Poonia on an evening in March 2016, was enough to make the piping hot pasta go cold. After much deliberation, The Rolling Circle, a Mumbai-based marketing firm concentrated on the digital marketing business arena was born with plans of potentially viable business strategies, blueprints of employee and other key resources' allocations, strategies for client procurement and vesting of some amount of investment money in initial pitches. Yet, in the last two plus years, the company has procured 40 plus clients and are looking to finish their account books with Rs. 1 crore revenue in their banks by 2018. Despite initial financial crunch, the company continued to get businesses. One day in February 2018, the resignation of co-founder Vinay Chaurasia was a blow to the foundation of the company. While clocking their best business so far and continuously growing since its inception, The Rolling Circle is now faced with one of the biggest dilemmas in the company lifecycle: in their line of business, there is neither a constant flow of clients nor a stability in terms of the employees working in the organisation; the founding team is grappling with the glaring strategic question of whether they should recruit high-profile employees in the organisation first and then continue onboarding premium clients, or they should first sign with premium clients and then look out for high-profile employees to serve those clients? Who will wait: the client or the employees?

Book part
Publication date: 15 March 2022

Nikolas L. Hourvouliades

The main purpose of this chapter is to shed more light into the challenging small business (SME) task of securing adequate and appropriate funding for continued viability. Access…

Abstract

Chapter Contribution

The main purpose of this chapter is to shed more light into the challenging small business (SME) task of securing adequate and appropriate funding for continued viability. Access to finance is of fundamental importance to SME survival, invariably it involves working capital needs or long-term capital projects. This chapter will mainly focus on the Greek environment and the individual characteristics of the domestic market, in particular. As in most countries, SMEs form the backbone of Greece’s economic activity, accounting for almost 95% of the total. They are the very backbone of the country’s daily business and labour force. Crucially, the Greek banking system upon which many small enterprises rely has collapsed during the years of global financial crisis, with the domestic banks literally ending up completely drained of all available liquidity.

In a country that has gone through enormous financial turmoil, and with a damaged banking system that has undergone three recapitalisation processes, domestic companies had little, if any, support from the traditional banking sources. In the summer of 2015, things became critical, when the country almost left the European Union’s (EU) common currency zone and entered a capital control regime. As a result, enterprises sought other channels of financing to overcome the obstacle. Focus in this chapter will be on the role of the stock market, the national investment funds and the EU funding.

This chapter, in the main, builds insight from a research-informed case study: that of Greek SMEs and their access to finance (excluding the banking sector). The time span of the analysis covers the years of the domestic financial crisis, lasting considerably more than within the other European countries. Though varying in magnitude, the crisis in Greece started sometime in 2010 and concluded in 2018, leaving deep scars on the country’s productive body. During that period, the domestic banking system underwent catalytic changes, embracing three major recapitalisation schemes and an enormous merger phase that ended up with only four remaining systemic banks. Prior to that, the 2012 Private Sector Involvement (bailout program) led the country’s rating to a default status and made financing options extremely difficult.

This chapter will also offer comparisons to other European states, to enable drawing of conclusions about the different operating parameters of doing business in the greater region; and to facilitate search for common patterns between the countries that were hit by the credit crunch and also saw their banking systems weaken. The data will be drawn exclusively from secondary sources, including national and European public and private organisations dealing with financial and investment analyses. Once gathered, data is categorised and critically evaluated to look deeper into the nature of the behaviour of SMEs and the financing channels they have found during the study sample period.

Key findings will include the reporting and the evaluation of Greek firms’ access to finance with regard to non-banking sources, such as the stock market, EU funding, investment laws and venture funds. Comparison with prior years and with other European markets will show the main challenges and obstacles firms faced, and the solutions they found during the crisis.

Limitations can be split into two categories: first, the data reported at public and private sites include by default the official sector of the economy, thus, omitting the reporting of parallel or unofficial market activity. In an economy that includes approximately 20% of unofficial GDP, such sources most probably proved catalytic in the companies’ liquidity, without being officially reported. Second, the time span of the sample is quite large, making it difficult to analyse the specific characteristics of various companies at various time points in full detail. However, the chapter’s main purpose is to offer an all-inclusive picture of how things evolved during the years of the crisis and not to focus on specific points. Describing the big picture is the priority of this chapter, with a focus on capturing the financing trends during this period of abnormality. Perhaps a further study in the future could be inspired by this current one, to break-up the period into smaller pieces and dedicate detailed analysis to each chunk. Useful conclusions will be drawn in this chapter for policy-makers, including both fiscal and monetary directors, who will get a clearer picture of how the credit crunch influenced the market, and how SMEs worked their way through these challenging times to find ways to finance their operations, development and growth. The major contribution of this chapter is it being the first to cover SMEs exclusively during all years of the financial crisis in a country like Greece that has seen its banking sector collapse. Firms were left without their traditional source of funding, the next-door bank, and managed to find alternative routes to finance to survive and keep on going.

Details

Small Business Management and Control of the Uncertain External Environment
Type: Book
ISBN: 978-1-83909-624-2

Book part
Publication date: 25 November 2019

Birthe Soppe and Raissa Pershina

The authors analyze how conflicting institutional demands become deployed in organizational storytelling in the context of wildlife documentaries. Documentary producers…

Abstract

The authors analyze how conflicting institutional demands become deployed in organizational storytelling in the context of wildlife documentaries. Documentary producers increasingly feel the pressure to entertain the audience, while simultaneously addressing serious environmental issues. Using a mixed-method analysis of BBC wildlife documentaries produced between 2009 and 2017, the authors identify two narrative strategies, alternation and amplification, to balance demands for entertainment and environmental conservation. Alternation switches entertaining and serious content to offset conservation concerns, while amplification uses entertainment to accentuate conservation. Emotions play a significant role in both ways of storytelling. The findings of this chapter contribute to the literatures on institutional microfoundations, storytelling, and emotions.

Book part
Publication date: 31 December 2010

P.G. Dhar Chakrabarti

South Asia, home to one-fifth of humanity, perennially has been a disaster-prone region. In 2007, for instance, the Centre for Research on the Epidemiology of Disasters (CRED…

Abstract

South Asia, home to one-fifth of humanity, perennially has been a disaster-prone region. In 2007, for instance, the Centre for Research on the Epidemiology of Disasters (CRED) reported that out of the top five countries in the world hit hardest by natural disasters, the first two were Bangladesh and India, while Pakistan occupied the fourth position (CRED Crunch, 2008). This was not an exceptional year but generally has been the trend, which highlights the comparative vulnerability of the region to disasters. Two-thirds of the disasters the region experiences are climate related and there have been phenomenal increases in their frequency, severity, and unpredictability in recent times. The severest impacts have been in terms of sea-level rise leading to submergence of low-lying coastal areas and depletion of Himalayan glaciers, threatening the perennial rivers that sustain the food, water, energy, and environmental security of the region. Climate change is surely creating grounds for newer and more severe risks of disasters in the region in the coming years.

Details

Climate Change Adaptation and Disaster Risk Reduction: Issues and Challenges
Type: Book
ISBN: 978-0-85724-487-1

Book part
Publication date: 21 December 2010

Liam Leonard and Paula Kenny

This chapter will discuss understandings of forms of sustainable political economy within the context of sustainability in the community. Essentially, it will examine the issues…

Abstract

This chapter will discuss understandings of forms of sustainable political economy within the context of sustainability in the community. Essentially, it will examine the issues which emerge when a community favours a green economic model within the context of the now largely discredited neo-liberal framework that never valued notions of sustainability, and is now largely in crisis due to the market decline and ‘credit crunch’. In addition, the section will outline the significance of community-based political economy for the development of sustainable forms of justice. A sustainable form of political economy incorporates particular concerns, such as ‘the geographical scope of production for local needs, and the exposing and combating the institutions and power structures that lead to poverty and lack of local control’ (Kennet & Heinemann, 2006, p. 78). Under the neo-liberal system, a dichotomy existed between community development and the dominant, yet ultimately unsustainable, growth-based form of political economy.

Details

Sustainable Justice and the Community
Type: Book
ISBN: 978-0-85724-301-0

Abstract

Details

Responsible Investment Around the World: Finance after the Great Reset
Type: Book
ISBN: 978-1-80382-851-0

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