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This chapter adopts value at risk (VaR) to analyze the hedge timing issue. Suppose that a producer, at a give time, recognizes the possible need of a futures contract for risk reduction purpose. Should the producer trade in the futures market immediately or should he wait? Conditions are characterized under which delaying the hedge decision is preferred as it produces a smaller VaR. For an efficient futures market, it appears that the producer is better off delaying the hedge decision as long as possible. However, strong backwardation promotes early hedging.

The paper provides an overview of research published in the innovation and operations management (IOM) literature on 15 methods for cost management in new product development, and it provides a comparison to an earlier review of the management accounting (MA) literature (Wouters & Morales, 2014).

This structured literature search covers papers published in 23 journals in IOM in the period 1990–2014.

The search yielded a sample of 208 unique papers with 275 results (one paper could refer to multiple cost management methods). The top 3 methods are modular design, component commonality, and product platforms, with 115 results (42%) together. In the MA literature, these three methods accounted for 29%, but target costing was the most researched cost management method by far (26%). Simulation is the most frequently used research method in the IOM literature, whereas this was averagely used in the MA literature; qualitative studies were the most frequently used research method in the MA literature, whereas this was averagely used in the IOM literature. We found a lot of papers presenting practical approaches or decision models as a further development of a particular cost management method, which is a clear difference from the MA literature.

This review focused on the same cost management methods, and future research could also consider other cost management methods which are likely to be more important in the IOM literature compared to the MA literature. Future research could also investigate innovative cost management practices in more detail through longitudinal case studies.

This review of research on methods for cost management published outside the MA literature provides an overview for MA researchers. It highlights key differences between both literatures in their research of the same cost management methods.

Testing of hypothesis, also known as sample-testing, is a common feature with almost every social and management research. We draw conclusion on population (characteristics) based on available sample information, following certain statistical principles. This paper will introduce the fundamental concepts with suitable examples, mostly in Indian context. This section is expected to help scholar readers, to learn, how hypothesis tests for differences means (or proportions) take different forms, depending on whether the samples are large or small; and also to appreciate hypothesis-testing techniques, on how it could be used in similar decision-making situations, elsewhere.

This chapter opens the second part of the Volume, focusing on the small farms' role and dynamics within the evolving food system. Assessing small farmers' actual and potential contribution to the change towards a sustainable food and nutrition security requires a deep understanding of their strategic decision-making processes. These processes take place in a context highly conditioned by internal and external conditions, including the complex relations between farm and household, which are mapped and described. Building on an adaptation of Porter's model (Porter, 1990), the chapter investigates how farmers, given those conditions, define their strategies (in particular their innovation strategies) aimed at economic and financial sustainability through a multidisciplinary analysis of scientific literature. Internal conditions are identified in the light of the Agricultural Household Model (Singh & Subramanian, 1986) which emphasizes how family farming strategies aim at combining business-related objectives, and family welfare. Then, a comprehensive set of external conditions is identified and then grouped within eight categories: ‘Factors’, ‘Demand’, ‘Finance and Risk’, ‘Regulation and Policy’, ‘Technological’, ‘Ecological’, ‘Socio-institutional’ and ‘Socio-demographic’. Similarly, six types of strategies are identified: ‘Agro-industrial competitiveness’, ‘Blurring farm borders’, ‘Rural development’, ‘Risk management’, ‘Political support’ and ‘Coping with farming decline’.

Consecration represents the most definitive form of legitimation in every cultural field. Complementing previous research focused on individual, contextual, and structural conditions underpinning consecration, this paper takes a sequence analytical perspective and explores whether diverse creative trajectories are more frequently associated with consecration. We introduce the notion of signature style and the pace of category spanning as key features for consecration. We argue that a consecrated signature style is just as likely to result from a producer’s adherence to a specific style over time or from a consistent (and fast-paced) category-spanning creative trajectory. The resulting identity will be specialist in the first case, eclectic in the second. We analyze the stylistic trajectories of 863 electronic music artists and find robust support to our hypothesis. The analysis is corroborated by further exploratory findings that identify intriguing questions for future research. By examining the organization of creative journeys in the career of cultural producers, this paper emphasizes the importance of considering the unfolding and rhythm of creativity over time. This temporal perspective sheds new light on the dynamics of distinctiveness and consecration in cultural fields.

The global call to ‘leave-no-one behind’ cannot be achieved without tacking the intractable social issues faced by the most excluded people. There is increasing interest in using visual methodologies for participatory research in contexts of marginalisation, because they offer the potential to generate knowledge from people’s lived experience, which can reveal subjective, emotional, and contextual aspects missed by other methods; alongside the means for action through showing outputs to external audiences. The challenge is that the perspectives of those in highly inequitable and unaccountable contexts are – by definition – rarely articulated and often neglected. The author thus begins by assuming that there are unavoidable tensions in using visual methods; between perpetuating marginalisation by inaction, which is ethically questionable; and the necessary risks in bringing unheard views to public attention. Many experienced practitioners have called for a situated approach to visual methods ethics (Clark, Prosser, & Wiles, 2010; Gubrium, Hill, & Flicker 2014; Shaw, 2016). What is less clear is what this means for those wanting to apply this practically. In this chapter, the author addresses this gap through the exemplar of participatory video with marginalised groups. Drawing on cases from Kenya, India, Egypt, and South Africa, the author contributes a range of tried-and-tested strategies for navigating the biggest concerns such as informing consent; and the tensions between respecting autonomy and building inclusion, and between anonymity and supporting participant’s expressive agency. Through this, the author provides a resource for researchers, including prompts for critical reflection about how to generate solutions to visual ethical dilemmas in context.

Our prior work has identified a trade-off that new entrants face in obtaining favorable market reception, whereby initial entrants suffer from a deficit of legitimacy whereas later entrants suffer from a deficit of authenticity. This research has also proposed that a single mechanism is responsible for this trade-off: the tendency for customers and other stakeholders to assess the entrant's claim to originality based on the visible work that it has done to legitimate the new product or organizational form. This chapter extends and deepens our understanding of such “legitimation work” by showing how it can illuminate cases that seem in the first instance to defy this trade-off. In particular, we focus on two “off-diagonal” cases: (a) when, as in the case of “patent trolls” and fraudulent innovators, early entrants are viewed as inauthentic despite having a credible claim to originality; (b) when late entrants, as in the case of Dell Computers, mechanical watches and baseball ballparks, are viewed as authentic despite obviously not being the originators. We clarify how each off-diagonal case represents an ‘exception that proves the rule’ whereby audiences attribute authenticity on the basis of legitimation work rather than on the order of entry per se. The last case also leads to an opportunity to clarify why “cultural appropriation” can sometimes project authenticity and sometimes inauthenticity, why audiences bother to make inferences about a producer's authenticity on the basis of visible legitimation work, and why legitimacy is a universal goal of early movers whereas authenticity varies in its importance.

The purpose of this chapter is to examine the corporate water reporting of the selected South African listed food producers with regard to the activities of measuring, managing, engaging with their stakeholders, and disclosing of their water risks.

This chapter examined the sustainability and integrated reports of 14 food producer companies on the Johannesburg Stock Exchange (JSE), for the years 2013 and 2017. The company reports were examined using the Ceres Aqua Gauge™ as the framework.

The findings of this study are that there were improvements in water disclosure from 2013 to 2017. Most companies are disclosing the basic water reporting requirements. However, critical areas around stakeholder engagement and supply chain water management were found to be lacking.

This research contributes to the body of knowledge around water disclosure and increases the awareness of water scarcity and poor water quality in South Africa. Furthermore, the study highlights that the food producers could be doing a lot more with regard to water sustainability in their businesses and the country.

This paper examines the attempts to create new online markets for the trading of wholesale standardized goods during the late 1990s. The vast majority of these business-to-business (“B2B”) exchanges failed. These failed attempts provide invaluable data on the necessary underpinnings of online commodity markets and the social dynamics that drive them. Focusing on the US market for propane as our case, we discuss the model that drove the development of many business-to-business exchanges, the social dynamics of the propane industry and the attempts to create an online propane market, the role of informal risk management, and some initial lessons about the design of markets. Ignoring the behavioral realities of markets led to designs and technology that in many cases were incompatible with the needs of market participants.

Shareholder dividends are “rents”: they are paid out of a producer's surplus that, in a fully competitive market, would not exist. In any market system, no one has a right to rents. Why, then, do shareholders receive dividends? Most likely, share gains have been the result of the usefulness of the share-centered ideologies in justifying a tremendous shift of corporate wealth from employees to an alliance of top managers and shareholders. This alliance now shows signs of breaking down, as the managers learn they no longer need the ideological cover. Standard accounts conceal the struggle over corporate surplus and the weakness of shareholder claims to appropriate it. Recognizing that distribution of corporate surplus is a political struggle is the first step towards a less ideologically blindered discussion of how that struggle ought to be structured.