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This chapter addresses one of the most crucial areas for critical thinking: the morality of turbulent markets around the world. All of us are overwhelmed by such turbulent markets. Following Nassim Nicholas Taleb (2004, 2010), we distinguish between nonscalable industries (ordinary professions where income grows linearly, piecemeal or by marginal jumps) and scalable industries (extraordinary risk-prone professions where income grows in a nonlinear fashion, and by exponential jumps and fractures). Nonscalable industries generate tame and predictable markets of goods and services, while scalable industries regularly explode into behemoth virulent markets where rewards are disproportionately large compared to effort, and they are the major causes of turbulent financial markets that rock our world causing ever-widening inequities and inequalities. Part I describes both scalable and nonscalable markets in sufficient detail, including propensity of scalable industries to randomness, and the turbulent markets they create. Part II seeks understanding of moral responsibility of turbulent markets and discusses who should appropriate moral responsibility for turbulent markets and under what conditions. Part III synthesizes various theories of necessary and sufficient conditions for accepting or assigning moral responsibility. We also analyze the necessary and sufficient conditions for attribution of moral responsibility such as rationality, intentionality, autonomy or freedom, causality, accountability, and avoidability of various actors as moral agents or as moral persons. By grouping these conditions, we then derive some useful models for assigning moral responsibility to various entities such as individual executives, corporations, or joint bodies. We discuss the challenges and limitations of such models.

The purpose of this paper is to be the first empirical article to provide necessary standard deviation inputs for adoption in probabilistic prognostications of hotel revenues and expenses, i.e. prognostications that consider risk. Commonly accepted methodologies to develop hotel financial projections resulting in point estimates of upcoming performance have been perceived as egregiously insufficient because they do not consider risk in lodging investments. Previous research has recommended the use of probabilistic methodologies to address this concern, and it has been recommended that analysts use Monte Carlo simulation. This methodology requires the estimation of standard deviations of specific, future hotel revenue and expense items, and this paper provides such inputs based on a large sample of actual, recent data.

This study provides actual standard deviations using a sample of recent hotel profit and loss (P&L) statements for over 3,000 hotels (Over 19,000 P&L statements) to provide analysts with empirically-supported standard deviations that may be applied to Uniform System of Accounts for the Lodging Industry (USALI) hotel revenues and expenses in hotel financial (revenue and expense) prognostications.

Findings are presented for standard deviations based on typical line items as defined in the USALI, and these findings may be used by practitioners as inputs for hotel financial projections. Findings also include that hotel revenue items generally have higher standard deviations than expense items. Findings are presented in detail in the manuscript, including overall findings, as well as findings based on hotel class.

Rather than practitioners adopting standard deviations of hotel revenue and expense line items based on guesswork or judgment, which is the current “state of the art” in hotel financial projections, this paper provides practitioners with actual standard deviations which may be adopted in probabilistic prognostications of hotel revenues and expenses.

This paper may be the first to provide practitioners with actual standard deviations, based on typical USALI line items, for adoption in probabilistic prognostications of hotel revenues and expenses.

The learning outcomes are as follows: to use advanced frameworks and tools to convey complex ideas related to strategy and sustainable business practices; apply relevant concepts and theories of corporate social responsibility and governance to a practical situation while making decisions; demonstrate understanding of the importance of stakeholders when developing socially responsible thinking; and analyze the different strengths and weaknesses of the organization when making a decision that would affect the company strategy.

Claire Humphry was the General Manager at the renowned The Nacre Hotel in Penang, Malaysia. Claire had a very busy job as she had many people who reported to her, and the hotel was always full of guests. One of the things Claire also managed was the restaurant OceanSound that was owned and operated by her hotel. OceanSound was a very thematic restaurant that specialized in making sculptures of food for special events. On the New Year’s Day in 2023, Claire came to work ready to tackle what was sure to be a long and busy day. However, Claire had not anticipated exactly how taxing the day would end up being. During Claire’s talks with her colleagues throughout the day, her conversation with her friend, the head chef of OceanSound, Poh, would nag at her head for the rest of the day based on the events that followed. The New Year’s special sculpture at OceanSound was to be a large rabbit made of cake to commemorate 2023 being the year of the rabbit according to Chinese zodiac. This is usually kept secret until the sculpture is revealed; but somehow this information had been leaked. This led to The Nacre Hotel and OceanSound being in the spotlight for bad reasons as this sparked a debate online regarding food wastage. This escalated quickly and even led to a famous food influencer commenting on this using specifically The Nacre’s name. Activists also quickly emerged in front of the hotel to protest the creation of sculptures and the food wastage in Malaysian hospitality industry, seeking to make an example out of The Nacre Hotel. The online criticism died down and was eventually replaced by praise for the sculpture. The activists were also eventually asked by the hotel security to leave, which led to the rest of the day to go as expected for a New Year’s Day at The Nacre. However, Claire’s nagging suspicion that they were not out of the woods led her to start looking into food wastage in the hospitality industry in Malaysia to educate herself and bring it up in a future meeting. Two days after this incident, on January 3, 2023, Claire found The Nacre Hotel posted on the newspaper headlines, dissecting the food wastage associated with the hotel now. After getting an urgent phone call from the Regional Manager, who was pressured by the board and shareholders, Claire decided the time to address this issue could not be delayed any longer. She wrote an email to her strategy team to come up with some ideas for possible solutions to the issue and to present them in a group meeting within a week’s time. At the conclusion of the meeting, Claire was contemplating about the decision that she had to make if she wanted The Nacre Hotel to continue operating successfully in Malaysia’s hospitality industry.

The main theoretical concepts illustrated in the case include corporate governance approaches, types of corporate social responsibility, stakeholders’ prioritization, organizational culture, organizational structure, industry analysis and strategic choices. Therefore, this case study can be used in a upper-level undergraduate business courses in the field of Strategic Management and Corporate Social Responsibility. The case study can be successfully used in a capstone course on Business Policy and Strategy, when tackling the concepts of corporate social responsibility, environmental sustainability strategy and corporate governance. Under this scenario, the usage of conceptual frameworks from Chapters 2 and 3 of the textbook titled “Concepts in Strategic Management and Business Policy: Toward Global Sustainability” by Wheelen and Hunger would be required. This case study can also be successfully applied to MBA level courses on Strategic Management in a Globalized World. In this case, the latest edition of the textbook titled “Exploring Strategy” by Whittington et al., could be used (particularly, the material from Chapters 2–9, 11, 14 and 15). Additionally, the case could also be used in courses related to Tourism and Hospitality, especially in schools which have specialized programs in this field.

Teaching notes are available for educators only.

CCS 12: Tourism and Hospitality.

This paper – the first of three – aims to explore some of the complex physical and mental health needs of those experiencing homelessness. It will act as a leader to the other articles by establishing the nature of the problem and offer a rationale for carrying out a service user needs assessment as part of a review of local service provision in the North West of England against the backdrop of the current COVID-19 epidemic.

There are a number of complex social and health inequalities often experienced by those who are homeless. Effectively tackling these requires a co-ordinated multi-agency response to both prevent and tackle the harms associated with being and becoming homeless.

Partnership working offers the best opportunity to meet the complex needs of those experiencing homelessness. The current delivery model being actioned in the North West of England highlights the importance of the links between statutory and non-statutory services. An ongoing service user needs assessment will further help to highlight contemporary issues faced by those experiencing homelessness and those providing services in the context of the COVID-19 epidemic.

Future papers as part of this series of three will consider the implications of social exclusion and barriers to accessing services faced on a day-to-day basis by those experiencing homelessness.

The opportunity to reflect on established views in relation to the nature and scope of homelessness. It will consider the implications exclusion from society and service provision that this group face on a day-to-day basis. The paper will describe a contemporary approach to tackling current issues faced by those experiencing homelessness in the current context of the COVID-19 epidemic.

The purpose of this paper is to offer an opinion piece that documents the experience of losing an adult sibling to suicide and explores the experience of personal and family grief.

This narrative is written from an autoethnographic perspective and uses the current evidence base to support a personal reflection.

This paper identifies the complex nature of bereavement following death from suicide and considers those factors that support more positive outcomes for those grieving.

This piece focuses on autoethnographic data but is supported by findings from the wider evidence base.

The importance of seeking positives as part of the healing process when processing complex grief.

Disclosure has been identified as an important part of processing complex grief associated with suicide bereavement and yet suicide remains a taboo subject for many.

This autoethnographic piece details the experience of dealing with a sibling suicide and the importance of creating the opportunity for positive reflection to process complex grief.

In 2020, Sports Illustrated proclaimed its “Sportsperson of the Year” as something dubbed “the activist athlete,” choosing five athletes – LeBron James, Breanna Stewart, Patrick Mahomes, Naomi Osaka, and Laurent Duvernay-Tardif – that represented the term. Like so many athletes who came before them, these athletes vividly demonstrate the potential of sport to shine a spotlight on critical issues in society, yet again solidifying how sport does not exist merely as some kind of escape, but is a major stakeholder in global campaigns for social justice.

This chapter historicizes the contemporary resurgence of athlete activism, largely connected to the reawakening of Black Lives Matters (BLM) in 2020, within what journalist Howard Bryant has called The Heritage, with athletes who acknowledge and accept the charge to use their spotlights for those who have none. From the turning point of the Mexico City Olympics in 1968, which saw collective movements of African-American athletes culminate in the powerful Black power protest by Tommie Smith and John Carlos, a protest that built upon the legacies of so many, to the ongoing debates that surround the International Olympic Committee's (IOC) Rule 50, athletes have long understood how sport serves not only as an integral part of society but also as an agent for change. Contemporary cries for athletes to “shut up and dribble” echo past claims that sport takes place on a level playing field that transcends politics. The history of sports demonstrates otherwise, as athletes embody every imaginable, intersectional, classification of political actor.

The paper aims to explore the relationship between accounting and racial violence through an investigation of sharecropping in the postbellum American South.

A range of primary sources including peonage case files of the US Department of Justice and the archives of the National Association for the Advancement of Colored People (NAACP) are utilised. Data are analysed by reference to Randall Collins' theory of violence. Consistent with this theory, a micro-sociological approach to examining violent encounters is employed.

It is demonstrated that the production of alternative or competing accounts, accounting manipulation and failure to account generated interactions where confrontational tension culminated in bluster, physical attacks and lynching. Such violence took place in the context of potent racial ideologies and institutions.

The paper is distinctive in its focus on the interface between accounting and “actual” (as opposed to symbolic) violence. It reveals how accounting processes and traces featured in the highly charged emotional fields from which physical violence could erupt. The study advances knowledge of the role of accounting in race relations from the late nineteenth century to the mid-twentieth century, a largely unexplored period in the accounting history literature. It also seeks to extend the research agenda on accounting and slavery (which has hitherto emphasised chattel slavery) to encompass the practice of debt peonage.

COVID-19 accelerated change within the UK retail market. It encouraged the growth of online shopping, providing the necessary demand for grocers to invest in their operations, and transformed the economics of their businesses. As innovative new business models emerged, some existing retailers collapsed leading to significant changes on the high street. Landlords were also affected. As some retail tenants struggled to pay their rents, other parts of the sector prospered and sought additional warehouse capacity to cope with rising demand. Not only does this illustrate how different parts of the retail sector faired during COVID-19, but it also demonstrates how the move online has resulted in the emergence of new opportunities.