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The study of monetary and non-monetary rewards from the human resource management (HRM) perspective has rarely been analyzed so far. There has been extensive study on HRM, yet only a few studies explicitly discuss the correlation between the adoption of a total reward system (TRS) and employee-related outcomes. This paper aims to analyze this important issue to provide inputs for organizations to design compensation strategies that will impact on company’s financial performance with employee productivity and job satisfaction as mediating variables specifically for Generation Z.

A survey was conducted on 40 companies operating in the service sector in Indonesia. The authors captured the overall TRS result on three outcome variables (i.e. job satisfaction, employee productivity and financial performance). Furthermore, the authors examine the impact of TRS (base pay, training and development and positive work environment) on Generation Z workers. Structural equation modeling analysis was conducted on 40 Indonesian, service industry, listed firms with an average of 6 representatives per firm.

The results validate that the adoption of a TRS exerts a positive influence on the aforementioned outcomes. However, the interesting fact about the finding is that Generation Z cannot be easily satisfied with only monetary incentives; their preference has shifted from monetary concerns to self-capability.

The empirical result suggests that TRS serves as a tool in encouraging employees and boosting productivity. Accordingly, firms should incorporate TRS practices to enhance job satisfaction and productivity, as well as sustain the relationship with stakeholders. Subsequently, management should also be concerned with maintaining good employee productivity to improve a company’s financial performance by supervising and monitoring company operations, as well as ensuring the fulfillment of the stakeholder’s interests.

This paper provides original insights into the complex relationship between TRS and the aforementioned outcomes, such as job satisfaction, employee productivity and financial performance.

The exchange of knowledge in social networks is fundamental to innovation. Open, interactive, innovation requires collaboration through social networks. This social networking is increasingly carried out across the Internet through social media applications. The purpose of this study is to explore the use of social media in open innovation, and explain how this practice is carried out in small and medium-sized enterprises (SMEs). With less resources than large firms, SMEs both have a greater need for open innovation and a less resources to invest in the process.

In this paper, the authors study the case of open innovation in start-up Aurea Productiva and induce a framework for open innovation in SMEs powered by social media.

The authors explore how the main advantages of the Web 2.0 translate into opportunities, challenges and strategies for open innovation that can be directly applied by managers.

The authors contribute to research on open innovation by social media and to research on the innovation process of SMEs. Future quantitative research could confirm and extend the authors’ findings.

Companies that want to fully exploit the benefits of social media can create a strategy that emphasizes coevolution of innovation and resources, sharing their vision and objectives and providing a framework for innovation.

The authors introduce an original analysis of opportunities, challenges and strategies for open innovation in SMEs.

The purpose of this paper is to explore the roles of identities in entrepreneurial processes during the development of a new market. Two research questions are used: How do the founder’s identity, corporate identity and market identity interact as a new market is developing, and what are the functions of identity in the entrepreneurial process?

This qualitative research is grounded in a study of multiple cases, from which five Swedish start-ups have been selected. Interviews were conducted with the founders at several points in time and accompanied by observations of websites, media performance, policy documents and commercial material. Analysis was conducted in an iterative process between empirics and theory.

The findings show how identities develop in entrepreneurs, firms and the market and how the interactions between these three levels of identity affect the development of each. The authors recognize and discuss three functions of identity: a constructing function, in which identity is used to create a new firm and market; a guiding function, which navigates between identities by imposing identity work on founders, firms and markets; and a configuring function, which takes part in shaping contexts.

This paper opens a space for future research on identities to advance understandings of how new firms and markets are developed. Investigating identity shows the importance of context to entrepreneurial processes. This points towards a need for researching different contexts, but also to the potential limited value of this study.

The paper offers guidance to founders and managers in understanding and navigating different identities. Founders and managers are provided with a set of critical questions, which aim to assist when managing identity-related concerns.

There is a vast amount of literature on the development of companies and markets, yet start-ups in new markets operate in different contexts and face different challenges that we know less about. This paper targets the latter and proposes identity as a useful lens for understanding the dynamics between entrepreneurs, start-ups and the new market.

This paper explores the applications of lean thinking in re-evaluating the business school curriculum, syllabus and intended learning objectives to enhance the employability of graduates through identifying and eliminating non–value-added activities.

The research employed multilevel qualitative methodology, where 55 semi-structured interviews were conducted to collect data from academics, students and graduates from several private and public universities in Jordan.

The study finds that the application of lean thinking in the business school is twofold – it helps the developer of the school curriculum to get rid of many superfluous and non–value-added activities and also emphasises and reinforces the value-added activities. Value stream mapping, with a consideration for internal and external outputs, has been found to be a useful tool for developing an employability-focussed curriculum that equips business school students with the required competences and skills in the labour market.

The study is based on a qualitative research approach. The generalisability of the findings is difficult to assess, and future research would benefit from the insights obtained from the quantitative data

In practice, this study has identified different types of non–value-added and unnecessary activities in business school curriculum and has made suggestions for the development of a more employability-focussed curriculum.

This paper investigates the non–value-added activities of the business school curriculum, syllabus and the intended learning objectives to enhance the employability of graduates in Jordan.

With an attempt to give a deeper explanation regarding the manifestation of socially and environmentally responsible cultures among Indonesian natural resources industry, this paper aims to highlight the empirical confirmation on the correlation of corporate social responsibility (CSR), corporate financial performance (CFP) and risk. Likewise, corporate risk’s role as a mediating variable in the indirect effect of CSR on CFP is also examined.

Kinder, Lydenberg and Domini’s (KLD) measurement approach is used as a basis to assess social responsibility activities as it gives more social rating transparency. CFP captures both accounting- and market-based measurements, whereas volatility of stock return is adopted as a proxy of firm risk. Partial least squares analysis is conducted on 40 Indonesian listed firms in natural resources sector, with observation years from 2008 to 2016.

It is revealed that CSR positively affects CFP, although the correlation is stronger in the long run. Significant negative influence to risk is also discovered. However, risk has a significant adverse correlation with CFP when two years’ lagged value is used. Hence, CSR affects CFP through risk in the long-term, both directly and indirectly.

The empirical result suggests that CSR serves as a tool in managing the risk of enterprises and performance, especially in the long-term. Accordingly, firms should incorporate CSR as a strategic investment and manage a strong relationship with stakeholders.

This report expands further prior works and contributes to CSR and financial management literature by discovering the true nature of CSR effects as an investment in the future. This is the first study which tests and proves that CSR in Indonesian natural resources industry plays a significant role as a strategic risk management instrument that leads to a sustainable and long-lasting financial performance.

This study aims to examine the control of corporate governance towards firm risks for a sample of Indonesian firms in agriculture, mining and property industries. This study highlights the impact of four indicators of internal mechanism of corporate governance, i.e. board size, board independence, board gender and board ownership, on three measurements of firm risks, i.e. total risk, asset return risk and idiosyncratic risk.

Panel data analysis is conducted using a sample of 62 companies of agriculture, mining and property industries listed in Indonesia Stock Exchange from 2013 to 2017. Pooled ordinary least square with hetero-corrected is the statistical approach conducted to test the hypotheses.

The result indicates that board size and board gender insignificantly influence firm risks. While board independence gives varied impacts towards firm risks, it gives positive influence towards total asset return risk, insignificant towards idiosyncratic risk and negative towards total risk. Other interesting results are found in board ownership that has insignificant influence on asset return risk and negative influence on idiosyncratic and total risk.

Firms should incorporate corporate governance, especially the impactful roles of board independence and board ownership as they serve as tools in reducing firm risk. Moreover, investors may have a better understanding of corporate governance and factors that are influencing firm risks. Therefore, this study can assist them to make the right investment decision.

This study is notably the first to use comprehensively three measurements of firm risks in Indonesia. Risks can come from internal and external, thus the company should understand the various types of risks facing the company. Total risk measures both the internal and external risks, while asset return risk gives another perspective using overall market perception about the equity and assets of the company. Finally, this study also measures internal risk, which is the only risk that can be controlled and minimised by the board of the company.

Creative Commons 2006 Petra Kuppers, Anita Gonzalez, Carrie Sandahl and Tabitha Chester, gratefully acknowledging input by community members

What is the historical, normative and institutional setting that helps leading Latin American and Eurasian countries to implement a post-hegemonic agenda and contribute to the multipolarization of global politics? Post-hegemony describes a situation in which the unipolar organization of the world political economy is challenged by a plurality of alternative projects, without however being entirely replaced by another system. Emblematic of post-hegemonic initiatives is the rise of the Brazil, Russia, India, China and South Africa countries who have taken the lead in creating alternative institutions that constrain US global hegemony, while however failing to spearhead a coherent, uniform and confrontational opposition movement. Regarding post-hegemonic regionalism, Latin American regionalism – as represented by Bolivarian Alliance for Our America (ALBA) – is characterized by a social justice-driven agenda that refutes US neoliberal hegemony, whereas the peculiarity of Eurasian regionalism – as represented by Shanghai Cooperation Organization – lies in its security-oriented focus that confronts US interventionism and international terrorism. An underlying commonality of both Latin American and Eurasian experiences is that they constitute a multi-front struggle centered on four main areas: culture, economy, financial cooperation, and regional defense. They both hinge on a strong normative framework and firm commitment in the regionalization of an endogenous culture, educational cooperation, and defense system. They all accord primary importance to social, financial, and infrastructural development. Overall, these experiences suffer from unresolved tensions between national sovereignty and supranationalism alongside the predominance of charismatic leaders inhibiting institutionalization. The limitations and contradictions of post-hegemonic transformations also include Latin America’s inability to resolve the question of extractivism, Eurasia’s neglect of the question of democratic participation, and both regionalism’s failure to offer a coherent alternative model of economic development to US hegemonism.

The aim of this study is to empirically explore and analyze the concrete tasks of output measurement and the inherent challenges related to these tasks in a traditional and autonomous professional public work setting – the judicial system.

The analysis of the tasks is based on a categorization of general performance measurement motives (control-motivate-learn) and main stakeholder levels (society-organization-professionals). The analysis is exploratory and conducted as an empirical content analysis on materials and reports produced in two performance improvement projects conducted in European justice organizations.

The identified main tasks in the different categories are related to managing resources, controlling performance deviations, and encouraging improvement and development of performance. Based on the results, key improvement areas connected to output measurement in professional public organizations are connected to the improvement of objectivity and fairness in budgeting and work allocation practices, improvement of output measures' versatility and informativeness to highlight motivational and learning purposes, improvement of professional self-management in setting output targets and producing outputs, as well as improvement of organizational learning from the output measurement.

The paper presents empirically founded practical examples of challenges and improvement opportunities related to the tasks of output measurement in professional public organization.

This paper fulfils an identified need to study how general performance management motives realize as concrete tasks of output measurement in justice organizations.