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Article
Publication date: 15 August 2016

Joachim Samuelsson, Jim Andersén, Torbjörn Ljungkvist and Christian Jansson

Several studies have highlighted the importance of management accounting practices such as formal short-term planning and formal long-term planning for SME performance…

Abstract

Purpose

Several studies have highlighted the importance of management accounting practices such as formal short-term planning and formal long-term planning for SME performance. However, few studies have considered what actually explains differences in the use of formal planning (from a management accounting approach) in SMEs. Family ownership and EO are two plausible explanations for such differences. The purpose of this paper is therefore to examine how family ownership and EO are correlated to the use of formal short-term planning and formal long-term planning in SMEs.

Design/methodology/approach

In this study, the authors examined how family ownership and entrepreneurial orientation (EO) affect the use of formal planning by analyzing a sample of 156 Swedish manufacturing SMEs, using multivariate regression analysis.

Findings

As could be expected, the authors were able to validate the notion that family firms use less formal planning than non-family firms. However, in contrast to some previous studies, the authors found that there is a strongly positive relationship between EO and the use of formal short-term planning and long-term planning.

Originality/value

Whereas many previous studies on family business have assumed that family firms use less formal planning than non-family firms, the present study is one of few to actually confirm this notion. Also, this study has provided strong evidence that EO is positively correlated to the use of formal planning, in the short term and in the longer term.

Details

Journal of Small Business and Enterprise Development, vol. 23 no. 3
Type: Research Article
ISSN: 1462-6004

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Article
Publication date: 1 March 1993

Melissa R. Bowers and Anurag Agarwal

Describes a model of a hierarchical planning system to provide a comprehensive approach to the complex production planning and scheduling problem. The model supplies a…

Abstract

Describes a model of a hierarchical planning system to provide a comprehensive approach to the complex production planning and scheduling problem. The model supplies a link between long‐term and short‐term planning; the three tiers of the hierarchy implement: long‐term inventory planning on a cost minimization basis; shorter‐term production planning; and daily sequencing. Emphasizes efficient processing and transmission of information.

Details

International Journal of Clothing Science and Technology, vol. 5 no. 3/4
Type: Research Article
ISSN: 0955-6222

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Book part
Publication date: 24 August 2011

Zhihong Wang and James E. Hunton

The purpose of the current study is to examine how employees from different cultures respond to participative budgeting when the budget planning horizon is congruent or…

Abstract

The purpose of the current study is to examine how employees from different cultures respond to participative budgeting when the budget planning horizon is congruent or incongruent with their cultural time orientation. We conducted a 2×2 quasi-experiment in which cultural time orientation (short term or long term) was measured and budget planning horizon (short term or long term) was manipulated. A total of 164 employees participated in the experiment – 87 from China and 77 from the United States, representing long-term and short-term cultural time orientations, respectively. The results indicate that satisfaction with participative budgeting was greater when cultural time orientation and budget planning horizon were congruent, relative to incongruent. Also, the differential reaction between congruence and incongruence was less extreme for the Chinese participants than the U.S. participants, which is consistent with Confucian thought of “The Doctrine of the Mean.” The results of this study contribute to participative budgeting literature and suggest that managers who operate in different countries should be cognizant of cultural differences when employing participative budgeting processes.

Details

Advances in Accounting Behavioral Research
Type: Book
ISBN: 978-1-78052-086-5

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Article
Publication date: 9 September 2019

Francisco Guzman, Audhesh Paswan and Niranjan Tripathy

Personal finance influences everything we buy and is a key driver of all economies. It has attracted significant research attention, mostly grounded in rational economics…

Abstract

Purpose

Personal finance influences everything we buy and is a key driver of all economies. It has attracted significant research attention, mostly grounded in rational economics. However, it has not received adequate research attention in the consumer behavior literature. This study aims to address this gap by looking at some of the consumer-centric antecedents of short- and long-term personal financial planning, i.e. self-other orientation, cognitive style and time orientation.

Design/methodology/approach

A self-administered survey was used to collect data from full time employees. Hypotheses were tested using multiple regression analyses.

Findings

Both short- and long-term financial planning are positively associated with non-impulsive and analytical decision-making styles; whereas self and other orientation are only associated with short-term financial planning. Intuitive decision-making is not associated to either short- or long-term financial planning.

Research limitations/implications

While analytical and long-term orientation are still important for personal finance, in the short run, consumers are also driven by self and other orientation.

Practical implications

The results are relevant for both products and services that have long-term and short-term financial implications for consumers.

Originality/value

This study explores financial planning decision-making from a consumer behavior perspective, and addresses a gap in consumer behavior literature.

Details

Journal of Consumer Marketing, vol. 36 no. 6
Type: Research Article
ISSN: 0736-3761

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Article
Publication date: 8 August 2016

Adam Dorr

Contemporary urban and regional planning practice and scholarship often fails to address the full implications of technological change (technology blindness), lacks a…

Abstract

Purpose

Contemporary urban and regional planning practice and scholarship often fails to address the full implications of technological change (technology blindness), lacks a clear or consistent definition of the long term (temporal imprecision) and seldom uses formal foresight methodologies. Discussion in the literature of time horizons beyond 10 years is, therefore, based on profoundly unrealistic assumptions about the future. The paper aims to discuss why conventional reasoning about possible futures is problematic, how consideration of long-term timescales is informal and inconsistent and why accelerating technological change requires that planners rethink basic assumptions about the future from 2030s onward.

Design/methodology/approach

The author reviews 1,287 articles published between January 2010 and December 2014 in three emblematic urban and regional planning journals using directed content analysis of key phrases pertaining to long-term planning, futures studies and self-driving cars.

Findings

The author finds that there is no evidence of consistent usage of the phrase long term, that timeframes are defined in fewer than 10 per cent of articles and that self-driving cars and related phrases occur nowhere in the text, even though this technology is likely to radically transform urban transportation and form starting in the early 2020s. Despite its importance, discussion of disruptive technological change in the urban and regional planning literature is extremely limited.

Practical implications

To make more realistic projections of the future from the late 2020s onward, planning practitioners and scholars should: attend more closely to the academic and public technology discourses; specify explicit timeframes in any discussion or analysis of the future; and incorporate methods from futures studies such as foresight approaches into long-term planning.

Originality/value

This paper identifies accelerating technological change as a major conceptual gap in the urban and regional planning literature and calls for practitioners and scholars to rethink their foundational assumptions about the long-term and possible, probable and preferable futures accordingly.

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Article
Publication date: 20 November 2009

Jukka Lassila, Anna Tanskanen, Juha Lohjala and Jarmo Partanen

Based on literature and an empirical case, the purpose of this paper is to present a framework for decision‐making in utilities where unbundling considerations are taking…

Abstract

Purpose

Based on literature and an empirical case, the purpose of this paper is to present a framework for decision‐making in utilities where unbundling considerations are taking place. The paper analyses the implications of splitting long‐term network planning activity from the organization responsible for short‐term network operation activities.

Design/methodology/approach

The proposed framework includes an analysis of impacts of external forces, set‐up of common targets and performance models, and alignment of responsibilities in the new organization. The empirical results and validation of the proposed framework is performed by an electric utility, where legal unbundling of activities has taken place; the study includes expert interviews and theoretical analysis.

Findings

Colliding interests in the new business model can be avoided if economic and technical targets are mainly set by the regulator for both network development and operation activities.

Research limitations/implications

The results are based on internal re‐organization; a complementary study on re‐organizing network business activities to an external service provider could give information about the generalizability of the findings.

Practical implications

Application of the proposed framework for decision‐making and lessons learned can support electric utilities when planning for unbundling and strategic target‐setting in the unbundled business model.

Originality/value

The study presents experiences of re‐organized network business activities in a pioneering market area with a long experience of outsourcing. The detailed analysis of internal re‐organization within one electric utility can facilitate further restructuring phases.

Details

International Journal of Energy Sector Management, vol. 3 no. 4
Type: Research Article
ISSN: 1750-6220

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Article
Publication date: 12 March 2018

Sissel Haugdal Jore, Inger-Lise Førland Utland and Victoria Hell Vatnamo

Despite the common focus on studying future events, the study of risk management and foresight have developed as two segmented scientific fields. This study aims to…

Abstract

Purpose

Despite the common focus on studying future events, the study of risk management and foresight have developed as two segmented scientific fields. This study aims to investigate whether current risk management methodology is sufficient for long-term planning against threats from terrorism and other black swan events, and whether perspectives from foresight studies can contribute to more effective long-term security planning.

Design/methodology/approach

This study investigates the planning process of the rebuilding of the Norwegian Government Complex destroyed during a terrorist attack in 2011. The study examines whether security risk managers find current security risk management methodology sufficient for dealing with long-term security threats to the Norwegian Government Complex.

Findings

Current security risk management methodology for long-term security planning is insufficient to capture black swan events. Foresight perspectives could contribute by engaging tools to mitigate the risk of these events. This could lead to more robust security planning.

Originality/value

The main contribution of this paper is to investigate whether perspectives and methodology from foresight studies can improve current security risk management methodology for long-term planning and look for cross-fertilization between foresight and risk studies. A framework for scenario development based on security risk management methodology and foresight methodology is proposed that can help bridge the gap.

Details

foresight, vol. 20 no. 1
Type: Research Article
ISSN: 1463-6689

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Article
Publication date: 14 January 2019

Matteo Pedercini, Holger Maximilian Kleemann, Nombuso Dlamini, Vangile Dlamini and Birgit Kopainsky

The purpose of this papers is to highlight the applicability of integrated simulation models for national development planning to different issues and contexts…

Abstract

Purpose

The purpose of this papers is to highlight the applicability of integrated simulation models for national development planning to different issues and contexts. Specifically, the authors describe one such model, the Millennium Institute’s T21 model, which is used to support planning in various countries, and explore in detail the case of Swaziland to demonstrate the model’s usefulness at different levels in the planning process.

Design/methodology/approach

Integrated sustainable development planning models using the system dynamics (SD) modeling method have been designed to help overcome these obstacles and support decision-makers in the assessment of alternative policies. Such models are laboratory replicas of the critical mechanisms driving development in a country while being grounded in the historical data available. They can be used to perform simulation-based policy experiments that are otherwise impossible in the real world.

Findings

The proposed approach has facilitated the reporting on the Millennium Development Goals (MDGs), as well as on the cross-sector long-term ex ante evaluation of the country’s “Economic Recovery Strategy” and a proposed “Fiscal Adjustment” policy. These assessments provided essential information for improving the quality of the decisions made. Such information cannot be obtained by the application of purely economic models or sectoral tools, that are not including the fundamental feedback structures that shape development in the long run and determine its sustainability.

Research limitations/implications

The new generation of global long-term Sustainable Development Goals (SDGs) covers a far broader range of issues and indicators than the MDGs. The T21-Swaziland model only offers a limited subset of such issues, and future research will focus on achievements and challenges in expanding its scope to encompass the SDGs.

Practical implications

The T21 model has become one of the fundamental planning instruments of the country, and it has been used to evaluate national planning documents and other suggested strategies with respect to whether they are sufficient for reaching the long-term goals. Such information is then used as a basis for revision of development plans and adoption or rejection of suggested policy packages.

Originality/value

The MDGs (and their expanded follow-up, the SDGs) have been important step toward better governance, as they quantify key indicators of development and thereby allow for an evaluation of the degree to which these quantified aspirations are actually achieved. In addition to such hind-sight evaluations, ex ante evaluations are equally important for improvement of the quality of the decisions made. The authors propose and test a tool to support such type of evaluation, supporting integrated planning and model-based governance.

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Article
Publication date: 22 November 2011

Jukka Lassila, Tero Kaipia, Juha Haakana and Jarmo Partanen

The purpose of this paper is to establish a methodological framework to address key issues in electricity distribution network development. The paper defines subtasks in…

Abstract

Purpose

The purpose of this paper is to establish a methodological framework to address key issues in electricity distribution network development. The paper defines subtasks in the strategy process and presents key elements in the strategy work and long‐term network planning. The results are illustrated by a case network.

Design/methodology/approach

The paper describes the methodology for cost and reliability analyses in the strategy work. The focus is on techno‐economic feasibility of certain network development technologies in the network strategy and the surveys are linked to economic regulation, specifically to reliability of supply and allowed return. The study addresses the stages of strategic decision making and compilation of investment strategies.

Findings

The strategic planning concept and methods are applicable in practice; the results have proven valuable in the long‐term business development and in discussions with the company owners. Outage costs are an essential element in the economic regulation of the business, reliability being a key driver in network planning.

Research limitations/implications

There is no universal solution to strategic decision making, but each development task is highly case specific. This is due to diverging operating environments and targets set by the company owners; these issues strongly influence the strategy process.

Practical implications

The work illustrates strategic planning in an actual distribution company and shows how the methodology can be applied to the strategic network development. Nevertheless, the results cannot be generalised as such, but each network has to be considered individually.

Originality/value

The proposed concept can be applied to the long‐term development of distribution networks. The results are internationally applicable, yet diverging regulatory models call for specific methodology in each country.

Details

International Journal of Energy Sector Management, vol. 5 no. 4
Type: Research Article
ISSN: 1750-6220

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Article
Publication date: 1 April 2004

Jane E. Mather

As real estate departments and workplace organisations devote more attention to strategic planning, most of the work has focused on improving performance metrics and…

Abstract

As real estate departments and workplace organisations devote more attention to strategic planning, most of the work has focused on improving performance metrics and developing dashboards to communicate this information clearly and concisely. Yet these steps will take these organisations only part of the way. Once they have this information, they need to devote more time to developing strategies and plans. This review examines one of these activities ‐ developing high‐level occupancy plans. Representatives of the strategy and planning groups at ten leading corporations and the occupancy planning experts at seven service providers and system developers were interviewed for this survey. It was found that most firms continue to complete high‐level occupancy plans with tedious and time‐consuming data‐collection processes and spreadsheet analyses. These organisations could improve efficiency and the success of their plans in two ways: better analysis approaches and better data collection and organisation. This review summarises the best practices identified in these areas.

Details

Journal of Corporate Real Estate, vol. 6 no. 2
Type: Research Article
ISSN: 1463-001X

Keywords

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