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The purpose of this paper is to examine the impact of supply chain lead‐time averages and variability on an organization's financial performance.

The “executive” list for manufacturers, consisting of 1,264 individuals of the Institute of Supply Management provided the study's sampling frame, with surveys sent to 402 firms and responses obtained from 210 firms. The empirical model is tested using LISREL.

The results show that as variance in supply chain lead‐times increases, the financial performance of the organization decreases. Of equal significance, the results show that average supply chain lead‐times have no direct impact on financial performance. The results also indicate that demand uncertainty associates with greater supply chain lead‐time variance and that production technology routineness associates with lower supply chain lead‐time variance. Product complexity and organizational size have no impact on supply chain lead‐time variance or supply chain lead‐time average.

The research is an initial effort to understand variance in supply chain systems. An ongoing challenge in this area is operationalization of measures and data collection techniques that go beyond a single firm and examine a network of organizations cooperating in a value‐added supply chain.

The results suggest that managing the variance in a supply chain system may be more important to an organization's financial performance than managing averages.

This is particularly significant since organizations often act contrary to these findings, focusing scarce resources on reducing average lead‐times rather than on reducing variability in supply chain lead‐times.

The purpose of this paper is to examine the relationships between internal process improvement investments, applied channel logistics knowledge, and financial performance for make‐to‐order (MTO) and make‐to‐stock (MTS) manufacturers. This study takes the position that knowledge, specifically tacit or applied knowledge, may serve as a key indicator of organizational performance. In this study, the tacit knowledge exhibited in intentional logistics integration activities is captured in the construct applied channel logistics knowledge.

A structural equation model, controlling for firm size and demand uncertainty, is used to examine these relationships. A sampling frame of 1,264 senior manufacturing “executives” provided 222 usable surveys representing 210 firms.

The results show that for MTO firms, higher investments in internal process improvement relate to higher applied channel logistics knowledge, whereas for MTS firms, the relationship does not hold, and this difference is significant. In addition, the results indicate a positive relationship between internal process improvement investment and financial performance for MTO firms, whereas again the relationship does not hold for MTS firms. Both MTO and MTS firms show increased financial performance when applied channel logistics knowledge increases, although the increase in financial performance is significantly greater for MTO firms.

Historically, the success of integration strategies has been postulated to be equally effective for MTO and MTS firms, a “one‐size‐fits‐all” approach to improving system effectiveness. However, given the inherent differences in these manufacturing strategies, this speculation deserves further investigation and serves as the focus of this research. The use of the tacit knowledge construct applied channel logistics knowledge is also unique and of value in understanding supply chain relationships.

Communications regarding this column should be addressed to Mrs. Cheney, Peabody Library School, Nashville, Term. 37203. Mrs. Cheney does not sell the books listed here. They are available through normal trade sources. Mrs. Cheney, being a member of the editorial board of Pierian Press, will not review Pierian Press reference books in this column. Descriptions of Pierian Press reference books will be included elsewhere in this publication.

This study is a result of working with a first-grade teacher, Ellen Stubblefield, who plans, implements, and evaluates a modified Reggio Emilia approach. She documents students’ learning through visual means. In tandem with a kindergarten teacher, Glenda Watson, early childhood learners question and reflect about their community history and that of Harlem primarily through folk art but also in music, poetry, literature, and architecture. Students inquire about historical events in the Harlem Renaissance and connected it to Hoover, Alabama. They deconstruct art works, replicate their favorites, learn the history of the Harlem Renaissance, map Harlem, write about artists, visit the local museum’s exhibit of folk art and make comparisons to their community. Ultimately, they educated peers and parents about the diversity of the people who made Harlem such a wonderful community. As educators, we learn the most. We see young children can begin historical understanding with an active learning/research approach.

Middle level teachers, at times, link historical content with relevant English literature in interdisciplinary units. Elementary teachers periodically employ history-themed literature during reading time. Interconnections between language arts and history are formed with developmentally appropriate literature for students. Historical misrepresentations, however, proliferate in children’s literature and are concealed behind engaging narratives. Since literacy and historical thinking are essential skills, children’s literature should be balanced within, not banished from, the classroom. Using America’s peculiar institution of slavery as a reference point, this article examines children’s literature, identifies almost a dozen areas of historical misrepresentation, and proffers rich primary source material to balance the various misrepresentations. We provide teachers with reason for caution when including such literature; but also model how to locate, use, and, at times, abridge primary source material within an elementary or middle level classroom. Such curricular supplements provide balance to engaging but historically-blemished children’s literature and enable educators to attain the rigorous prescriptions of Common Core.

This paper aims to describe a robust empirical approach to generating plausible historically based interest rate shocks, which can be applied to any market environment. These interest rate shocks can be readily linked to movements in other key risk factors, and used to measure market risk on institutions with large fixed-income portfolios.

Using yield curve factorization, we parameterize a time series of historical yield curves and measure interest rate shocks as the historical change in each of the model’s factors. We then demonstrate how to add these parameterized shocks to any market environment, while retaining positive rates and plausible credit spreads. Given a set of shocked interest rate curves, joint risk factor movements are calculated based upon historical, reduced form dependencies.

Our approach is based upon yield curve parameterization and requires a parsimonious yet flexible factorization model. In the process of selecting a model, we evaluate three variants of the Nelson–Siegel approach to yield curve approximation and find that, in the current low interest rate environment, a 5-factor parameterization developed by Björk and Christensen (1999) is best suited for accurately translating historical interest rate movements into plausible, current period shocks.

An accurate measure of market risk can help to inform institutions about the amount of capital needed to withstand a series of adverse market events. A plausible set of shocks is required to ensure market value, and cash flow projections are indicative of meaningful market sensitivities.

This manuscript aims to integrate the relationship and knowledge-based theoretical perspectives of open innovation to provide a framework that identifies and classifies eight critical dimensions that influence the effectiveness of interfirm open innovation.

The literature on interfirm open innovation is reviewed. Internal firm factors and external interfirm factors of open innovation are explored.

The manuscript identifies four internal firm factors of absorptive capacity, control of knowledge input, relational capability and coordination capability. Further, the synthesis identifies four external firm factors of distribution of knowledge input, appropriation of knowledge output, network position and network diversity.

The organizing framework facilitates the development of eight research propositions to guide future empirical investigation. Moreover, the findings aid managers in understanding what dimensions they should consider to improve the effectiveness of their interfirm open innovation activities.

By considering both the relationship and knowledge-based perspectives, the manuscript integrates various perspectives of open innovation to provide direction for practicing managers and for future research on interfirm open innovation.

The extent of congruence between managerial values and organisational goals is addressed from the perspective of assessing whether there is sufficient managerial commitment to allow for effective implementation of competitivefirm strategy. A group of production managers is compared with a group of quality control managers, using a hierarchical model reflecting decision‐process goal constraints. Study results reveal that the goal hierarchies of production managers differ significantly from quality control managers. Given the role demands of each manager group, the congruence levels between managerial values and organisational goals are sufficient to satisfy organisational accountability. Several implications for strategic planning are presented.

This paper aims to examine how the efficacy of organizational routines varies and the mechanism through which organizational routines improve firm performance.

A theoretical model is proposed and tested using data from 53 interviews with financial services experts and 291 survey responses from financial advisors.

Operational and adaptive routines work through absorptive capacity to positively contribute to firm performance. The positive effects of adaptive routines are magnified under market governance.

The examination of organizational routines is focused on routines at the firm level. Therefore, higher corporate-level routines were not measured. Response rate for the survey is a possible concern, so future research will benefit from increasing the response rate from the focal population.

This study benefits firms facing the dual role of customization and discipline in working with clients toward service delivery. The findings suggest that firms should develop both operational and adaptive routines, particularly when operating under market governance.

This study identified two categories of routines (operational and adaptive) and the circumstances in which the causal link between routines and performance varies. This study examined the potential moderating influence of a governance mode (market vs hierarchy). Absorptive capacity was identified as a mediator between the use of routines and firm performance.