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The purpose of this paper is to investigate the causal relationship between risk experienced within the real estate industry and that of the overall market in the UK context. The motivation behind this research is to investigate whether the real estate sector transmits risk to the wider marketplace and whether this phenomenon existed, or was exacerbated, during the most recent financial crisis.

The study was undertaken over a 20‐year timeframe, from 1990 to 2010, with special attention being awarded to the global financial crisis (GFC) period from 2008 to 2010. The paper first undertakes graphical modeling of market and industry volatilities in an attempt to identify which industry drives market uncertainty. This is followed by quantitative computation of industry‐specific volatility, which is employed in examining the relationship between these volatilities using block exogeneity/Granger causality tests. Rolling sample analysis and impulse response functions are employed as robustness tests to substantiate the main results.

First, the analysis confirms research that finance industry volatility is a leader in driving market volatility. Second, it expands on these findings to identify the real estate sector as being a key source of this causal relationship. It finds that real estate risk is the one that regularly drives finance industry volatility over the 20‐year sample period. Third, and most importantly, it emerges that the causal link between the real estate sector and market volatility is at its strongest leading up to the most recent financial crisis. More specifically, the real estate investment trusts sub‐sector of real estate industry volatility is the one that has the strongest unidirectional relationship with market‐wide volatility, both directly and indirectly, through driving the finance industry volatility during the GFC.

These findings are significant for market participants, such as pension funds, which need to protect their assets from a stock market crash. Furthermore, anticipating a downturn by observing the trends in real estate sector volatility is highly advantageous in informing their trading strategies now and into the future. Policy makers likewise need a signal of an impending credit crunch and can utilize real estate market statistics to pre‐empt a freezing up of the credit markets.

This research presents a study on the supply chain process of an Indian apparel industry considering various parameters involved. The study aims to identify the main parameters to improve the supply chain process and develop a comprehensive structural relationship to rank them to streamline the apparel supply chain process and business environment.

The team of five experts from this apparel industry was made to give scores to multiple parameters. The TOPSIS (Technique for Order of Preference by Similarity to Ideal Solution) technique is used to develop the model for eleven key parameters and then rank them.

Based on the data analysis the planning, customer and warehouse storage have emerged as top three key parameters while the non-replenishment approach, push and pull strategy and manufacturing of the product are identified as the bottom three parameters from a hierarchy level. These parameters have been ranked based on their contributing attributes in this apparel supply chain process.

The study provides an overall ranking of parameters and the implications are in the direction of helping the industry to improve its supply chain performances rather than focus only on productivity. Further, the key parameters are identified as critical inputs and show that the firms are being more proactive and well prepared comprised of the industry.

The study indicates that the key parameters are identified by this apparel brand to improve its supply chain process. The key supply chain process involves planning, manufacturing, distribution, end customer and returns logistics of the goods, etc. So, this research also provides the focused parameters on the supply chain performance received by end customer from the supplier and rank them for effectiveness and improve their overall organizational performance. It also provides a critical observation of their supply chain process improvement which includes different brand uses, strategies and approaches.

Distils the key insights for management development from the four research papers, in this special issue taken individually as well as collectively. The perspective taken is one of strategy – for the industry practitioner or strategy/management consultant. The key insights that extend beyond the scope of individual research papers will be presented first, under the following themes: Lessons of brand/differentiation strategy; Managing a leading brand; A lesson from the case study; Strategy in a complex, turbulent and uncertain globalising environment. Key insights that are single research paper specific will be presented as follows: The story of Singapore Airlines and the Singapore Girl; Air wars in Asia: competitive and collaborative strategies and tactics in action; The Development of the airline industry from 1978 to 1998: a strategic global overview; Beyond Singapore Girl: grand and product/service differentiation strategies in the new millennium.

High‐tech industries in Taiwan exist in an environment with diverse product requirements and intense cost reduction and information integration stress. They must develop new operational directions to increase industry competitiveness. Therefore, Taiwan’s high‐tech industries must continue R&D and creativity, establish knowledge sharing mechanisms and improve new product development (NPD) performance. This research analyzed and explored the influences of knowledge management (KM) and knowledge sharing mechanisms introduced by Taiwan’s high‐tech industries on new product development performance. The relationship between knowledge management capabilities and NPD performance is studied. This research considers the intervening industry and corporate position variables. Taiwan’s high‐tech industries have gradually entered the era of IT region integration and application with competitive advantage creation based upon core techniques. The in‐depth study of knowledge management and knowledge sharing introduced by the high‐tech industry revealed double meanings in academic and practical applications. The research results showed the following: (1) the stronger the knowledge management capabilities of Taiwan’s high‐tech industries, the more significant the NPD performance. (2) The better the knowledge sharing mechanism in Taiwan’s high‐tech industries, the more significant the NPD performance. (3) Corporate scale is not necessarily the critical factor in NPD success and the influence of corporate scale on NPD performance did not show significant differences. (4) The stronger the degree of leading corporate techniques, the more significant the NPD performance.

This paper aims to contribute to the understanding of the mechanisms that evolve during reputational scandals and lead to changes in industry regulation. It explores the processes by which a demand for external industry regulation evolves, also addressing the consequences of firms’ competitive behaviors which lead to substantial misbehavior and the destruction of reputational capital. The authors are interested in whether and how regulatory activities – in the case analyzed here, changes in insurance regulation regarding sales commissions for insurance brokers – are used as a costly, external behavioral control mechanism (third-loop learning) to terminate a reputational scandal that cannot be stopped by internal controls at a firm level (first-loop and second-loop learning) anymore.

The paper explores a real-life case in the German insurance industry that peaked in 2012 and has been well documented by broad media coverage, complemented by interviews with leading industry representatives. Using causal process tracing as a methodology, the authors study the factors in the case that led to an industry scandal. The authors further analyze why the insurance firms involved were not able to limit the scandal’s impact by internally controlling their behaviors, but had to call for external regulation, thus imposing costly restrictions on sales and contract processes. To identify the mechanisms underlying this result, theories from the fields of economics (game theory) and sociology (vicious cycle of bureaucracies), as well as organizational learning theory, are used.

The authors find that individual rationality does not suffice to prevent insurance firms from scandalous business practices, e.g. via implementing appropriate internal behavioral control measures within their organizations. If, as a result, misbehavior leads to reputational scandals, and the destruction of reputational capital spills over to the whole industry, a vicious cycle is set in motion which can be terminated by regulation as an externally enforced control mechanism.

This study is limited to the analysis of a single case study, combining published materials, e.g. broad media coverage, with interviews from representatives of the insurance industry. Nevertheless, the underlying mechanisms that have been identified can be used in other case studies as well.

The paper shows that if firms want to avoid increasing regulation, they must implement strong reputational risk management (RRM) to counteract short-term profit pressure and to avoid restrictive regulation imposed on the industry as a whole. Furthermore, it sheds light on the relevance of spillover effects for RRM, as not only employee behavior within an organization might lead to the destruction of reputational capital but also that from other firms, e.g. from elsewhere within an industry.

The paper contributes by emphasizing a direct causal link between corporate scandals, loss of reputation and regulatory change within the insurance industry. Furthermore, the paper contributes by combining economic theories with organizational theories to understand real-life phenomena.

^{States that, although there has been considerable progress with the implementation of total quality management in Australia and New Zealand over the past 15 years since it was pioneered in the manufacturing sector, there is still not a widespread acceptance and implementation of it. As a result, while the best companies in these countries are achieving high levels of competitiveness, the bulk of companies are still reporting mediocre performance in critically important areas such as customer satisfaction. Details how some of Australia and New Zealand’s leading companies have implemented quality improvement initiatives. Reports on a large survey of companies showing that on average, self‐reported measures of employee morale, customer satisfaction and the extent of dissemination of customer requirements throughout a workforce are particular areas for improvement.}

The study aims at disclosing the evolution process to an entrepreneurial university in the government‐pulled triple helix in China through the analysis of MIT and Stanford model of “university‐pushed triple helix” in which academic institutions take the lead in regional innovation.

The paper is based on a case study of the Northeastern University (NEU), which is located in the Northeast China where there is a dominant government‐pulled triple helix and with the establishment of China's first science park in which a highly successful software company (Neusoft) was created.

The pathway to an entrepreneurial university begins with government‐pulled + industry‐university collaboration, to university‐industry collaboration + interaction triple helix. This may be followed by a gradually developing “university‐industry collaboration” in which companies fund academic research with potential industrial use, the beginnings of a university‐pushed triple helix.

The analysis of NEU exemplifies the emergence of the entrepreneurial university in China and provides strategic implications for policy makers in terms of designing the appropriate policy to support university enterprising strategy.

The purpose of this paper is to empirically explore the extent to which women are advancing in the wine industry, and whether there are conditions which help facilitate their advancement. There is a perception that women are making great strides in the wine industry. However, this perception is largely anecdotal.

All wineries in Australia are examined in each year for the years 2007 to 2013. By relying on a leading wine industry database, women in CEO, winemaker, viticulturist and marketing roles are examined.

With the exception of the marketing role, women are under-represented relative to predicted representation rates. Regarding regional differences, there is no consistent pattern with respect to where women representation in the roles is higher. The findings also suggest that where there is a woman CEO, women are more likely to be represented in winemaker, viticulturist and marketing roles.

The study represents Australian wine regions and should not be taken as a general population sample. The representation rates of women in top roles in other wine firms around the world may vary, which could lead to results different than those found in this study.

For firms and policy makers interested in increasing the representation rates of women in the wine industry, the results of this study offer some insight into where current rates stand, and what might be underlying these representation rates. This is expected to facilitate debate around the means and mechanisms through which to increase the representation of women in the wine industry.

This is the first known large-scale study to examine the representation rates of women in top roles in the wine industry; therefore, it offers both new insights and avenues for future research.

This article attempts to understand the dynamics of institutional management processes. This concept is defined here as managerial action vis‐a‐vis emerging political and infra‐structural conditions for business in the nation‐state arena. For this purpose the emerging patterns of relationships between business and politics in the Finnish forest sector are described and analysed. Our focus is on the impact of the four most societally loaded changes in political and infra‐structural conditions of the forest sector: its position in the core of the Finnish economy, the ownership of the key resources, the use of timber as the basic source of welfare, and the logging and transportation infrastructure. These changes become the key issues for the level of institutional management in the forest sector. They have remained significant over the studied long‐term period, but the efforts of their moulding have changed over time. These dynamics of institutional management are found to follow a cycle, divided in seven phases, coined as: (1) offensive confrontation, (2) operational co‐operation, (3) differentiation of institutional management, (4) exploitation of a core position, (5) justification of expansion and growth, (6) legitimation of decline, and (7) defensive confrontation. The authors provide examples and evidence of these changing patterns of institutional management, and offer a proposition about the underlying dynamics of the cycle.

Industry 4.0 is characterised by the exponential pace of technological innovations compelling organisations to transform or be displaced. Industry 4.0 transformation of construction enterprises lacks systematic guidance and notable earlier studies have utilised maturity models to map transformation of enterprises. This paper proposes a conceptual maturity model for construction enterprises for business scenarios leading to Industry 4.0.

The requirements for designing maturity models, including comparison with existing models and scientifically documenting the design process, make Systematic Literature Reviews (SLR) appropriate. Two systematic literature reviews (SLRs) are conducted to shortlist a total of 95 papers, which are subjected to subsequent content analysis.

The first SLR identifies the following process categories as critical levers of industry 4.0 maturity; data management, people and culture, leadership and strategy, collaboration and communication, automation, innovation and change management. The second SLR ascertains that the existing maturity models in construction literature do not adequately correspond to Industry 4.0 business scenarios with limited emphasis on data management, automation, change management and innovation. The findings are assimilated to propose a conceptual Smart Modern Construction Enterprise Maturity Model (SMCeMM).

The paper systematises the transformation of construction enterprises in Industry 4.0 and leads to state-of-the-art development of Industry 4.0 and maturity model research in construction. The proposed conceptual model addressed both the demands of the construction industry as well as what is required to navigate Industry 4.0 better.