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11 – 20 of over 11000In mid-2013, the Lee family, which owned the Hong Kong based food and health product giant Lee Kum Kee (LKK), struggled with how best to increase involvement of the fifth…
Abstract
In mid-2013, the Lee family, which owned the Hong Kong based food and health product giant Lee Kum Kee (LKK), struggled with how best to increase involvement of the fifth generation (G5), the children of the company's current fourth-generation (G4) senior executives and governance leaders. Only two of the fourteen G5 members had joined the company, and few had expressed interest in further involvement, including in the multiple learning and development programs the business offered, such as a mentoring program. Many of the G5 cousins had expressed little interest in business careers in general, and none of them currently was serving as an LKK intern. G4 members observed that their children were busy with family obligations, hobbies, and emerging careers outside the business. G5's lack of interest in business and governance roles was part of a growing pattern of low family engagement in general, exhibited by the cancellation of recent family retreats (once an annual tradition) because of apathy and some underlying conflict. A history of splits among past generations of the Lee family regarding business leadership made the engagement issue even more meaningful and critical.
Students will consider the challenge from the point of view of G4 family members David Lee, chairman of the family's Family Office, and his sister, Elizabeth Mok, who ran the Family Learning and Development Center. They and their three siblings saw engaging the next generation as a top priority, one related to key concepts including family-business continuity, generational engagement and empowerment, succession, emotional ownership, and intrinsic/extrinsic motivation.
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Chandra Shekhar Bhatnagar, Dyal Bhatnagar and Pritpal Singh Bhullar
The purpose of this study is to examine the impact of corporate social responsibility (CSR) expenditure and business responsibility report (BRR) on a firm’s financial performance…
Abstract
Purpose
The purpose of this study is to examine the impact of corporate social responsibility (CSR) expenditure and business responsibility report (BRR) on a firm’s financial performance. Additionally, the study explores whether CSR expenditure and firm performance are related linearly or otherwise. The study also assesses the influence of mandating CSR expenditure on a firm’s performance.
Design/methodology/approach
The study is set in India and uses a nine-year data set from 165 companies listed on the Bombay Stock Exchange. Data compilation and analysis are done by using content analysis and panel data regressions.
Findings
The main findings of the study are that the effect of CSR expenditure on firm performance in India is non-linear and can be characterized as parabolic for investigated firms. While some performance indicators suggest a U-shaped relationship, others show an inverted U-type pattern, making a definitive conclusion elusive in either direction. BRR scores themselves have a positive impact on firm performance. Mandatory CSR expenditure affects the financial performance negatively, but the market performance improves in general.
Originality/value
The study provides new insights on the relationship between CSR expenditure, BRR scores and firm performance from India, which is not only a notable emerging market but also has other gripping characteristics. It has a prolific history of philanthropy, and yet, it is the first country in the world to mandate CSR expenditure in recent times. The equation between reported economic progress and general quality of life remains intriguing, and yet the number of studies on the effects of CSR expenditure on firm performance are no match to the volume of ongoing and completed works in more developed markets. This study attempts to trim the gap and provide some useful insights for managers, policymakers and stakeholders, apart from prompting further research.
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The increasing internationalisation of business and transition to a global economy are discussed, with special detail on the views of UK and Scandinavian managers as revealed by a…
Abstract
The increasing internationalisation of business and transition to a global economy are discussed, with special detail on the views of UK and Scandinavian managers as revealed by a “Management for the Future” project carried out at Ashridge Management College. Cultural factors, including national differences in management style, and readiness to learn foreign languages, can be modified by management development processes. For the international manager of the future, however, attitudes and values may also need to develop a greater openness.
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Amir Shikalgar, Preetha Menon and Vaishali C. Mahajan
Though there is consensus that mindfulness induces mindful consumption (MC), empirical testing is needed to uncover the mechanism underlying temperance behaviour in the MC model…
Abstract
Purpose
Though there is consensus that mindfulness induces mindful consumption (MC), empirical testing is needed to uncover the mechanism underlying temperance behaviour in the MC model proposed by Sheth et al. (2011). The role of mindful advertising in influencing MC needs deeper investigation. The purpose of this research paper is to bridge the gap.
Design/methodology/approach
The relationship between mindfulness and temperance in consumption was investigated using an online simulation. Mindful advertising by Patagonia, with a message to buy less yet demand organic, fair-trade and recycled products, was introduced as a moderator in experimental group one. The second group was exposed to an aspirational advertisement of Tommy Hilfiger, symbolic of consumption-driving communication.
Findings
Not buying any brands was the uppermost preference by the participants followed by Patagonia, which used a mindful advertisement. Tommy Hilfiger was a distant third despite using an aspirational advertisement. A predictive relationship between mindfulness and temperance in consumption remained elusive.
Practical implications
Consumer purchase decisions favouring mindfully advertised Patagonia make a strong business case for nurturing a mindful mindset and promoting mindful behaviour. The customer-centric sustainability strategy of caring for the people and the planet beforehand should take precedence over corporate social responsibility which is usually an afterthought.
Originality/value
Measuring mindfulness and MC, two constructs combined in one experimental design, using a simulation built around real-life marketing communication distinguishes this research paper.
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New York is the third top wine producing state in America. Competitive wine production across the United States has challenged New York winemakers to secure a place in the…
Abstract
Purpose
New York is the third top wine producing state in America. Competitive wine production across the United States has challenged New York winemakers to secure a place in the domestic market in order to support the long-term viability of the local economy. As businesses of agriculture become increasingly disrupted by the changing natural environment and consumer demand for sustainable products grows, vintners may distinguish themselves through the production and promotion of strategic initiatives on wine bottle labels.
Design/methodology/approach
Fueled by the distinct fields of green marketing and environmental communication, this research investigates the promotion of sustainable practices on wine bottle labels. Through the methodology of content analysis, this project examines all 13 wineries on the Shawangunk Wine Trail located in the Hudson River Region of New York.
Findings
The findings from this study show that less than half of wineries in the sample selection employ environmental marketing as a communication strategy.
Research limitations/implications
This research carries practical, business and social implications for the local Hudson River Region, the larger New York wine industry, and any organization looking to remain viable in a competitive marketplace.
Originality/value
This paper reveals the potential for the Hudson River Region wine industry to promote its “distinctive” and “innovative” environmental philosophy of “terroir driven and sustainably produced” winemaking on wine bottle labels to differentiate themselves in a crowded and expanding marketplace and build a Basis of Legitimacy with consumers.
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The corporate landscape is evolving towards a focus on core business functions. Company operations that are not direct contributors to the core success of the business are being…
Abstract
The corporate landscape is evolving towards a focus on core business functions. Company operations that are not direct contributors to the core success of the business are being outsourced. For many corporate real estate departments, this means that the internal function is being examined for potential outsourcing. Given this new environment, Corporate Real Estate (CRE) must adapt by focusing on its own core internal processes and outsourcing the non‐core work now being performed by internal staff. The transformation from internal to external provides many challenges, including staff realignment issues and service‐provider selection. When effective, CRE can focus on providing real and measurable benefits to the company as well as enhancing the CRE executive’s career.
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Gordon Hughes and Adam Edwards
This article sets the scene for the contributions in this special edition of Community Safety Journal. It examines the political contexts of community safety initiatives, compares…
Abstract
This article sets the scene for the contributions in this special edition of Community Safety Journal. It examines the political contexts of community safety initiatives, compares transatlantic and European traditions and discusses convergent and divergent themes.
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