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This study examines the reasons behind managerial resistance to change, particularly in instances where innovative work practices have been imposed. An increased need for firms to develop flexible production systems, become quality oriented and manufacture more quickly has resulted in work re-organization. This shift from Fordism to a form of mass customization has involved not only technological and organizational changes in the workplace, but has also restructured much of managerial work. Instead of a pre-occupation with operational efficiency, managers are now required to coordinate activities designed to promote a more effective use of human resources. Drawing evidence from case studies, we describe the responses by managers to these changes in an industry undergoing intense competitive pressure. Initial implementation of new practices is often followed by modification to those practices that protect managerial interests. It becomes apparent that what is rational for the firm often might be irrational for managers, hence the reason why many changes are resisted by managers. We conclude with a discussion of ambiguous evaluation procedures that further compound managerial uncertainty as unprecedented economic volatility continues to plague firms in this industry.

This paper examines the late 20th Century emergence of wineries in North Carolina, using the concepts of clusters and industrial policy to explain the dynamics of entrepreneurship in an embryonic industry. Specific attention is paid to how changing resource conditions (available agricultural land and financial capital) interact with an entrepreneurial climate that has fostered individual interest in winemaking to precipitate institutional changes that consolidate cluster formation. Using a model of small business growth in which firms gain credibility through identification with a cluster we trace the success of key wineries in this geographic region.

Purpose – The purpose of this study is to empirically examine the extent of adoption of International Financial Reporting Standards (IFRS) within three major South Asian countries – India, Pakistan and Bangladesh.

Design/methodology/approach – We selected 566 non-financial listed companies for the financial year 1997–1998. Fifty-two measurement practices and 72 disclosure practices were drawn from 15 commonly adopted IFRS.

Findings – We find that the overall level of adoption of IFRS regarding measurement and disclosure practices is higher in Pakistan compared with India and Bangladesh. We also find that the adoption level is high for inventories, income statement for the period, research and development costs, retirement benefit costs, foreign currency translations, business combination and accounting for investment in associates, whereas the adoption level is low in the areas of cash flow statements, taxes on income, property, plant and equipment, accounting for leases, accounting for government grants, borrowing costs and consolidated financial statements.

Originality/value – Adoption of IFRS issued by the International Accounting Standards Board (IASB) by listed companies has been a subject of immense interest among accounting standard setters, practitioners and academics throughout the world. South Asian countries have adopted IFRS, either fully or with minor modifications, with a view to improving the quality of financial reporting. This article is one of few that examines this important issue and concludes with some suggestions for improving the adoption levels within South Asia.