Showing papers in "Euromed Journal of Business in 2013"

Explicating dynamic capabilities for corporate sustainability

Abstract: Purpose – Differences in corporate commitments to sustainability have attracted increasing attentions of both researchers and practitioners. However, reasons behind such differences still lack a generic theorization. We propose that one source of these differences lies in the development and application of what we refer to as dynamic capabilities for corporate sustainability within the firm. Drawing on the dynamic capabilities view, the objective of this paper is to examine the fundamental role of dynamic capabilities in corporate sustainable development. Design/methodology/approach – The research developed a framework of dynamic capabilities for corporate sustainability and used the approach of content analysis to verify the framework based on the CSR reports of UK leading companies. Findings – The research demonstrates that the dynamic capabilities for corporate sustainability enable firms to monitor the emerging sustainability needs of various stakeholders, seize sustainable development opportunities f...

Successful implementation of CRM in luxury hotels: determinants and measurements

Abstract: Purpose – Valid measurement scales for predicting the adoption of hoteliers’ customer‐centric orientation are in short supply. The present research develops and validates a new scale for a specific variable, i.e. Management Attitudes Towards Customer‐Centric Orientation (MATCCO). Furthermore, this research attempts to identify some broad determinants for a successful CRM system implementation and propose a research model depicting possible relationships among MATCCO, broad determinants and profit.Design/methodology/approach – A structured questionnaire has been developed in order to accomplish the research objectives. Data were collected from 86 Greek luxury hotels. Accepted methodology was used to construct the measure, factor analysis to determine the CRM key success factors (KSFs) and Pearson correlation, ANOVA and discriminant analysis to test the proposed model. Additionally, qualitative research was conducted in two Greek luxury hotels.Findings – A reliable and valid measure of MATCCO was constructe...

Evolutions in the ecologically conscious consumer behaviour in Greece

Abstract: Purpose – The purpose of this paper is to examine simultaneously all types of ecologically conscious consumer behaviour (ECCB) during the current economic crisis in Greece and investigate some of the factors able to affect it; to reveal the distances between the results of this study and those of previous studies in the same geographical area; and to present a detailed profile of the ecologically conscious consumers’ (ECCs) market segment.Design/methodology/approach – An effort was made to examine simultaneously all types of ECCB, namely pro‐environmental purchasing behaviour, recycling behaviour, pro‐environmental post‐purchasing behaviour and pro‐environmental (non‐purchasing) activities. A set of demographic, attitudinal and personality variables was added in the investigation. The relevant research objectives were set and they were accomplished by a quantitative survey of a large enough ‐‐ for the urban area of Thessaloniki ‐‐ probability sample.Findings – All ECCB types were found to be positively re...

Corporate accountability in the context of sustainability – a conceptual framework

Abstract: Purpose – The purpose of this paper is to integrate the context of sustainability in a framework for greater corporate accountability. Design/methodology/approach – Applied conceptual research. Findings – This literature review shows that current corporate accountability frameworks forces companies to focus on a narrow source for value creation based on imperfect economic theories inadequate response to societal issues and misleading measurement systems. The current conceptual accountability frameworks are dramatically inadequate in the context of escalating sustainability issues and needs of both society and business. The business responses, through corporate social responsibility (CSR) initiatives, voluntary sustainability reports and industry standards are only a poor attempt to address the fundamental sustainable development challenges. Economic theory has defined externalities as residual to the market and as market failure requiring government intervention. Practical implications – This paper propos...

Perceived unfairness in appraisal: engagement and sustainable organizational performance

Abstract: Purpose – The purpose of this paper is to explore the contribution of appraisal systems to sustainable organizational effectiveness. It argues that competitive advantage is increasingly reliant on discretionary effort. As the emphasis of appraisal has shifted from a developmental to a performance focus, perceived unfairness in both procedures and outcomes threatens to undermine commitment and, therefore, sustainable performance. Design/methodology/approach – Drawing on a range of theoretical frameworks, current practices and experiences are examined and future trends considered. Empirical research includes a ten-year study of practising managers and ethnography, questionnaires and interviews in two large organizations. Findings – Appraisal frequently creates actual and perceived injustice in terms of both procedures and rewards. It also generates tensions between managing performance and encouraging engagement. Research limitations/implications – This study indicates that further research in other sectors...

The evolution of strategic corporate social responsibility

Abstract: Purpose – Corporations and businesses have been a major influence on society since before the industrial revolution, but academic focus on corporate responsibilities is a recent phenomenon which focuses predominantly on globalised multi-national corporations of the late twentieth century. The purpose of this paper is to consider the evolution of the corporate responsibility and community involvement tracing the development of corporate behaviours in the UK from medieval guilds to the modern form of corporation seen at the end of the last century. Design/methodology/approach – The analysis considers the institutional forces which have shaped responsible business behaviours in a context of changing power and influence. Findings – Drawing on Weber's notion of the ideal-type, this paper demonstrates that many “modern” corporate social responsibility (CSR) concepts such as codes of conduct, stakeholder consultation, and corporate donations have considerable heritage. Originality/value – This paper develops an ...

Cross‐cultural bridges in European firms’ internationalization to Islamic countries

Abstract: Purpose – The purpose of this paper is to analyse the positive effects of cultural bridges on European firms’ internationalization to SMCs and MECs. We analyse the meaning and the role of managers’ cultural competence in order to understand if and how it contributes to the formation of effective cultural bridges.Design/methodology/approach – Given the few contributions existing on the topic, and the lack of a general theory, a multiple case‐study analysis seems appropriate to the topic. In particular, we present five case studies of European large firms, which have successfully internationalized in SMCs and MECs. In each firm, we interviewed local and foreign managers, in order to understand the importance of cultural issues and the ways companies overcame cultural distance.Findings – Cultural distance is a big problem for European firms investing in SMCs and MECs. They impact both intra‐ and inter‐organizational relationships and cultural bridges can be useful to overcome the effects of its perception. C...

Cost of capital in SMEs

Abstract: Purpose – The purpose of this paper is to discuss the applicability of value based management (VBM) concepts for small to medium‐sized enterprises (SMEs) and to identify obstacles for its implementation. Estimating cost of capital is central to all VBM concepts, it is hence intended to critically analyse approaches that allow estimating cost of capital for non‐publicly traded firms.Design/methodology/approach – The paper is based on literature review and a case study approach. A case study on estimating the cost of capital has been conducted with a single manufacturing firm in Germany.Findings – VBM may provide useful management concepts for SMEs. Estimating the cost of capital has been found to be a critical element of implementing VBM concepts. Due to the absence of capital market data, cost of equity in SMEs has to be derived by means of alternative procedures. Results of a case study implicate that a combination of different methods may provide reasonable results in practice.Research limitations/impli...

The Marketing Dilemma

Abstract: Purpose – The purpose of the paper is to explore the ongoing and continuing debate regarding the role of marketing in an organisation – profit or not‐for‐profit, public or private – in a climate where the disciplines’ contribution is seen as decreasing in importance.Design/methodology/approach – An eclectic but well‐informed summary of some of the key issues involved based on extensive experience as practitioner, consultant, and academic researcher.Findings – Too much emphasis is given to the “Tip of the Marketing Iceberg – advertising/promotion/public relations – and what marketers ‘do’ to customers with insufficient consideration of its strategic role as the interface between an organisation and its customers that creates ‘mutually satisfying exchange relationships (Baker, 1976).’” In other words marketing is, or should be, a force for good and, because of its understanding of consumption and human behaviour, has the potential to make a major transformational contribution to achieving the goals of socia...

Framing and involvement effects on consumers’ brand choice

Abstract: Purpose – Consumers frequently find themselves having to choose between various product brands that differ in price and quality. The purpose of this paper is to examine several possible factors that may affect this choice: message framing of the choice as either gain or loss of money or quality, consumer involvement, and consumers’ perceived monetary and quality gains.Design/methodology/approach – In all, 837 participants from Portugal, Turkey, and Israel were randomly assigned to a positively or negatively framed message regarding the quality or price of two alternative brands of sunscreen lotion.Findings – As expected, highly involved consumers show a higher preference for the better and more expensive product than less involved consumers, while perceived monetary or quality gains mediates this relation. Challenging previous findings, negative framing of loss avoidance affects perceived gains and brand choice more than positive framing only for less involved participants, rather than for highly involved...

Autotelic capabilities and their impact on technological capabilities

Abstract: Purpose – The purpose of this paper is to shed light on the emerging concept of autotelic capabilities and their impact on operational capabilities, and in particular, technological capabilities.Design/methodology/approach – Autotelic capabilities and their dimensions are discussed since they constitute a novel framework for new venturing in knowledge‐intensive, low‐tech industries. Links among the dimensions of autotelic capabilities and technological capabilities formation are explored, focusing on production technologies.Findings – The suggested links among autotelic and technological capabilities highlight the need to go beyond individual‐centered explanations of entrepreneurial activities towards the formation of integrated capabilities. They strengthen the assumption that autotelic capabilities exist as higher‐order capabilities in low‐tech but knowledge‐intensive venturing, are very specific, can be managed, and endue new ventures with technological capabilities.Research limitations/implications – ...

Foreign ownership and financial information

Abstract: Purpose – The purpose of this paper is to examine the foreign ownership patterns in local stocks in an emerging capital market, i.e. the Istanbul stock exchange (ISE), to derive insights into the linkage between foreign investors’ equity‐level preferences and the information provided by the corresponding firm's financial statements.Design/methodology/approach – The data consists of foreign ownership share in non‐financial stocks over the period 2004‐2008 in the ISE. Given the time‐series cross‐sectional span of our data set, we run our regression analyses of the foreign ownership of Turkish stocks on various firm‐specific financial characteristics.Findings – Our analyses suggest that foreign investors are more likely to hold shares in firms with larger market capitalization and those with low leverage and book‐to‐market ratios. Overall, the results provide suggestive evidence on the asymmetric information hypothesis between local and non‐local investors and, accordingly, useful insights into the equity ho...

Wireless sensor technology in dementia care: Caregiver perceptions, technology take‐up and business model innovation

Abstract: Purpose – The purpose of this paper is to empirically examine health professionals’ recognition of sensor technology as a means to enhance quality of life (QoL) of care recipients with dementia, in Switzerland and France. In light of this research, the authors suggest potential vectors of development for wireless sensor technology (WSN) businesses working in gerontechnology. Information and communication technology (ICT) for the aging is a high‐potential, nascent market in which the technology‐enabled solutions lack business models to make them readily available and easily‐accepted.Design/methodology/approach – To enhance the contribution of the study to both theory and practice, a mixed methodology combined qualitative and quantitative approaches. Similarly, the data collection techniques included interviews, a case study and an online questionnaire. Multiple regression analysis was used to analyse the quantitative data to examine the relationships between elements of WSN‐adoption and QoL aspects.Finding...

Remuneration of management in the financial crisis – a study of the 2009 annual reports of the Euro Stoxx 50 companies

Abstract: Purpose – The purpose of this paper is to study the remuneration of management in the financial crisis. What are the key elements of management payment at the Euro Stoxx 50 companies, does management remuneration comprise long-term incentives in order to overcome principal-agent conflicts and how did the financial crisis affect management payment in terms of payment elements and size? Design/methodology/approach – Based on the Euro Stoxx 50 financial reports of the fiscal year 2009 and other documents elements and size of management payment are being analysed. Findings – Management payment has been affected by financial crisis. Among the Euro Stoxx 50 companies management remuneration is quite heterogeneous. Practical implications – There is still a lack of use of appropriate metrics. There are doubts whether measures like TSR really can align manager's decisions to a sustainable, long-term orientated strategy. Originality/value – The paper gives an insight view in management remuneration at the Euro Stox...

In the shadow of offshoring: exploring providers’ expectations

Abstract: Purpose – Although the literature on offshoring is vast, very scarce research has been undertaken to understand the providers’ perspective of offshoring The purpose of this paper is to fill this gap, aiming to assess the expectations of providers when they started working with foreign firms and compare those expectations with their perceptions of realityDesign/methodology/approach – The authors conducted exploratory research based on grounded theory A purposive theoretical sampling technique was used to select seven Portuguese offshoring providers Data collected were then coded and analysedFindings – In total, three broad categories of expectations and perceptions emerged: business‐, firm‐ and client‐related “Creation of business” and “Acquisition of skills” were the most referred categories, both as expectations and as perceptions of reality, stated by all the interviewees However, several expectations do not match the providers’ perceptions, and some perceptions were not part of the providers’ in

Patients‐medical unit relationship models in the virtual environment

Abstract: Purpose – The purpose of this paper is to identify and analyze factors influencing the mutual relationship between patients and medical units in the virtual environment. Since introduction of the internet and other electronic tools for medical services provision is at the very initial stage, it is necessary to examine factors which condition engagement of patients and medical units in building bilateral relations in a new virtual environment and to develop relationship models on the health services market. Design/methodology/approach – The paper presents findings of the field study conducted in Poland, being a representative market under transition. Surveys were conducted among patients and medical units by means of structured questionnaires. The identification of relationship factors was based on the approach used in consumer behavior models, where the method of the so‐called summary of variables is left behind. Findings – According to research results, the most important factors affecting relationships between patients and medical units in the virtual environment include: the motivation, ability and market opportunity. With respect to patients, the most powerful factor is represented by the ability, whereas with respect to medical units by the market opportunity. Practical implications – Identified factors and developed models may be widely applied in practical operation of medical units, particularly in developing marketing programs for introduction of virtual service and communication tools, as well as in building patient loyalty programs. Originality/value – The paper is one of the first to have defined factors determining relationships on the virtual healthcare market and to have provided useful insights into the subject. Moreover, it constitutes a basis for future studies. The findings can greatly contribute to development of customer behavior and partnership marketing theories.