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To provide an overview of the guidance for proxy firms and investment advisers included in the Staff Legal Bulletin released this year by the Securities and Exchange Commission (SEC) after its four-year comprehensive review of the proxy system.

Discusses briefly the context in which the SEC’s review was conducted; the general themes of the guidance provided; the most notable aspects of the guidance; and the matters that were expected to be, but were not, addressed by the SEC.

The guidance does not go as far in regulating proxy advisory firms as many had anticipated it would. The key obligations specified in the guidance are imposed on the investment advisers who engage the proxy firms. The responsibilities, policies and procedures mandated do not change the fundamental paradigm that has supported the influence of proxy firms – that is, investment advisers continue to be permitted to fulfill their duty to vote client shares in a “conflict-free manner” by voting based on the recommendations of independent third parties, and continue to be exempted from the rules that generally apply to persons who solicit votes or make proxy recommendations.

The SEC staff states in the Bulletin that it expects that proxy firms and investment advisers will conform to the obligations imposed in the Bulletin “promptly, but in any event in advance of [the 2015] proxy season.”

Practical guidance from experienced M&A lawyers.

To inform on recent developments in shareholder activism, a phenomenon well-documented in North America and Europe and now spreading to Latin America, and summarize the key considerations for corporate boards.

The article discusses a recent development involving Cartica Capital, a USA hedge fund and minority shareholder in CorpBanca, a Chilean bank pursuing a merger with Itau Unibanco Holding SA, Latin America’s biggest bank by market value, Cartica.

Shareholder activism will continue to be an expanding global phenomenon.

Boards must continue to plan accordingly when structuring a strategic transaction, both in and outside the USA market.

Practical overview of recent developments in shareholder activism with a review of the key considerations for practitioners.

This case dates back to 2017 and revolves around three budding entrepreneurs studying in a prestigious university in Haryana. A collaborative initiative by Abhishek Ganesh and Shine Varghese Saji to make the Onam festival in their university a huge success among their fellow mates initiated their journey of entrepreneurship. The three entrepreneurs got their first lesson that students are ready for a service if it is interesting and enjoying but not at a very high price. They studied the market and observed that there was a lack of substitutes providing high-quality but affordable travel services. With the three entrepreneurs gelling successfully, they decided to form a company that offered relaxing weekend gateways at high quality but at an affordable price. So, the company, The Great Expedist came into existence as a Partnership Company under the treasurer's name, that is, Anurag Bansal and started business from 5 February 2017. The aim of the company was to provide varied experiences to their customers including adventure sports, team building activities, historical learning and a comfortable stay that delivers a unique travel experience to students at an affordable price.

As every new initiative brings challenges along with it, the entrepreneurs had to face resistance from vendors, hoteliers and even students from other universities. But with their sheer grit backed by full support from their university entrepreneurship cell, they overcame the challenges smoothly.

But the issue of pricing was of prime concern for them. With students being a price-sensitive market coupled with vendor issues, they found it difficult to earn revenues. So, they decided to opt for mark-up pricing and offered 15% mark up on the costs incurred by the company in arranging for hotel, travel and other logistic arrangements. With passage of time and enhancement of negotiation power, they decided to offer more value-oriented services at similar price points. This enhanced their profit margins due to increase in volume of sales.

The targeted promotions and positive WOM were making them popular but the issue of customised service seemed a challenge. Each student had a different set of priorities in terms of travel, stay and food offered. The company wanted to enhance their profits so either the negotiation had to be great or the price to be enhanced. This issue landed them in a dilemma. They wanted to diversify, promote and research all of which required a lot of money. They even thought of diversifying into the senior citizen category. It was a lucrative segment with huge profit margins but with its own set of huge challenges too. So, they are stuck up with a dilemma. Should they negotiate with vendors or should they increase the price of the service package? Should they stick to their current target group of students or diversify to the segment of senior citizens or a completely new segment?

At the end of the exercise, students will be able to identify the type of entrepreneur, apply Big Five Personality Traits characteristics of the successful entrepreneur, use the Porter five forces to define the company’s attractiveness, describe David’s three-stage framework, use David’s (2015) strategy formulation framework to propose appropriate strategies for a company, explain the interdependencies of the nine key elements of a business model and create the business model canvas.

The case focuses on Posh Nail Beauty (POSH), one of the leading manicure and pedicure companies in Malaysia. The case concentrates on the discussion of business development, business strategies and challenges of POSH.

The case study is suitable to be used by undergraduate students who are taking the courses such as entrepreneurship, business strategy and marketing related courses.

Teaching Notes are available for educators only. Please contact your library to gain login details or email support@emeraldinsight.com to request teaching notes. Pearce and Robinson (2013). Strategic management: Planning for domestic & global competition, (13th ed.). McGraw-Hill/Irwin, New York. • Posh Nail Spa. (2017), available at www.poshnailspa.my/ • Posh! Nail Spa Presents The First Nail Art Fashion Show in Malaysia. (2016), available at http://femalemag.com.my/beauty/posh-nail-spa-presents-first-nail-art-fashion-show-malaysia/ • Scarborough and Cornwall (2015). Entrepreneurship and effective small business management, (11th ed.). Pearson, England. • Siaw (2015). “How to nail it: Plus the do’s and don’ts,” The Star, Malaysia. • This Local Nail Salon Is Going Beyond Mere Manicures. (2017), available at http://marieclaire.com.my/beauty/local-nail-salon-posh-nail-spa/ • Torlak and Şanal (2007). David’s strategy formulation framework in action: the example of Turkish Airlines on domestic air transportation. İstanbul Ticaret Üniversitesi Fen Bilimleri Dergisi, 6(12), 81-114. • David (2011). Strategic management (Concepts and cases)(Global Edition 13e). Pearson, Upper Saddle River, New Jersey.

CSS 3: Entrepreneurship.

The purpose of this paper is to investigate the views of the employees of GM Hellas, the subsidiary of the Opel car manufacturer in Greece, with regard to the training they receive from their employer.

It explains that the conclusions are based on the responses of 114 employees and trainees to a survey at Opel’s 22 largest dealers in Greece.

It reveals that the training provided by GM Hellas is viewed positively by most employees.

It indicates that GM Hellas could make greater use of online training, which is both popular and cost-effective.

It highlights how staff development is contributing to the performance of a company that is flourishing, despite the severe economic downturn in Greece.

Emphasizes the importance of in-company training for business growth and competitiveness.

The focus of this chapter is quantum dialectical storytelling and its contribution to generate anticipatory knowledge of the future through the intra-play between the ante-narrative and the anti-narrative. The theoretical framework on quantum dialectical storytelling is based upon Boje’s triad storytelling framework interfused with Hegelian dialectics and Baradian diffraction. Through the inspiration of Judith Butler’s performative theory, Riach, Rumens, and Tyler (2016) introduce the concept of the anti-narrative as a critical reflexive methodology. By drawing on Hegel’s work on the dialectical phenomenology of critical reflexive self-consciousness, a dialectical pre-reflexive and reflexive framework emerges as intra-weaving modes of being-in-the-world toward future.

This chapter proposes a quantum relational process philosophy as an approach for studying organization-in-becoming as a world-creating process. Furthermore, the quantum relational process philosophy is tied to quantum storytelling. Whereas the quantum relational process philosophy outlines a philosophy of a processual ontology, epistemology, and ethic, quantum storytelling provides the storytelling medium through which such an ontology, epistemology, and ethic emerges through articulation and actualization. As such, the two approaches are introduced as inseparable from each other.

The focus of this chapter is to unfold the ties between the quantum relational process philosophy and quantum storytelling through the perspective of the quantum relational process philosophy itself.

The proposed quantum relational process philosophy is defined as Being-in-Becoming. Thereby, this approach is suggested as an alternative to the “Being” perspective and the “Becoming” perspective or at least as a further development of the becoming perspective. These latter two perspectives present two different ways of viewing organizational change: development and transformation.

The being perspective relies on substance ontology acknowledging the existence of entities: that “which is.” In substance ontology, however, entities such as individuals and organizations are viewed as existing in themselves in fixed space-time frames. This view entails a rather static and stable ontology, perceiving the organization as a ready-made world of stable, unchanging entities. This perspective is often referred to as the approach of building the organizational world through intervention and control of change.

As a contrast, the becoming perspective relies on a process ontology while the organization is perceived as a sea of constant flux and change through which the organization emerges on the way. In this process-oriented perspective, attention is directed toward “that which is becoming.” In this perspective, the organization is perceived as a world-making phenomenon emerging through ceaseless processes of transformation. This approach is often referred to as the dwelling approach, that is, to dwell in the world-making phenomenon letting it happen. This perspective tends to ignore that which exists, that is the ready-made forms, and only focus on that which is becoming.

In this chapter, the proposed being-in-becoming perspective views the tension between being and becoming as a dialectical interplay that is decisive to organizational transformation. However, in the being-in-becoming perspective, “entities” are viewed from a quantum perspective whereby being-in-becoming differs from the substance ontology in its view of the nature of “entities.” In this perspective, the organization is viewed as a dialectical interplay between, at the one hand, the organizational form(ing) of life and, at the other hand, the aliveness of unfolding and transforming living life-worlds of being-in-the-world in fluid space and open time. This dialectical interplay is conceived as central in organizational world-creating processes.

The aim of the chapter is to develop a conceptual framework of a quantum relational process philosophy that embraces the dialectics of transforming organizations. The contribution is to be capable of understanding the performative consequences of dialectic to organizational transformation viewed from the being-in-becoming perspective of the quantum relational process philosophy.

Through the contribution of Heidegger, Hegel, Aristotle, and Boje, and further enriched by Barad, Bakhtin, and Shotter, a conceptual framework is developed for understanding, analyzing, and problematizing dialectical organizational world-creating.

This framework is called “Fourfold World-Creating.” The fourfold world-creating framework keeps the dialectic of organizational transformation at its center while it at the same time take into consideration the dialectical interplay of ontology, epistemology, and ethic. In this sense, the framework is proposed as quantum relational process philosophy. The incorporation of ethic in the quantum relational process philosophy represents an additional contribution of the chapter.

The fourfold world-creating framework is furthermore suggested to be conceived as a quantum relational process philosophy of the antenarrative dimension in David Boje’s quantum storytelling triad framework encompassing: (1) the narrative, (2) the living stories, and (3) the antenarrative. In his recent research, David Boje has a developed a dialectical perspective on his storytelling framework. Following in line with this thinking, this chapter suggests viewing (1) the narrative as the ready-made form, (2) the living stories as the living life-worlds, and (3) the antenarrative as fourfold world-creating.

In this sense, the proposed dialectical fourfold world-creating framework and its embeddedness in the quantum relational process philosophy contributes to our understanding of the research contributes of antenarrative storytelling in organizational studies.

As findings, the chapter proposes what could be considered as ontological, epistemological, and ethical key constituents in dialectical organizational world-creating. The contribution of these findings encompasses an analytical framework for (1) understanding the dialectical, transformative movements of the organization as well as (2) analyzing and problematizing the cease of dialectical tensions that seems to lock the organization in a particular state of being, only capable of repeating and reproducing its ready-made world in fixed space-time frames.