Problem of Plenty: Managing Employee Surplus
01 Jan 2016-Vol. 6, Iss: 1, pp 38-48
TL;DR: An extensive review of literature is done to understand the complete cycle, which is from environmental conditions leading to employee surplus consequently leading to firm implementing relevant strategies to deal with the situation and the consequences thereof on firm and individuals.
Abstract: The article deals with understanding the phenomena of employee rationalisation in firms especially the ones operating in dynamic environments. In this paper the authors do an extensive review of literature to understand the complete cycle, which is from environmental conditions leading to employee surplus consequently leading to firm implementing relevant strategies to deal with the situation and the consequences thereof on firm and individuals. The authors focus their attention on high technology firms and the relevant strategies for managing employee surplus in such firms. They extend the literature by proposing the relevance of tacit knowledge in situations where employee surplus needs to be managed and how it can be retained for preserving the competitiveness of firms.
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01 Apr 2017
TL;DR: This article analyzes the literature in the search for career management in the knowledge-based organizations KBOs to present valuable insights and further understanding of the way in which career management perspectives in the K BOs should be emphasized.
Abstract: This article analyzes the literature in the search for career management in the knowledge-based organizations KBOs. The literature review covers the overview of career management strategy; organizational career management OCM and knowledge management KM in the KBOs; career management and career learning in the KBOs; career management innovation in the KBOs; and the significance of career management strategy in the interorganizational career transitions. Career management is the process that helps employees understand career opportunities and chart a career path within their organization. Encouraging career management in the KBOs has the potential to improve organizational performance and reach strategic goals in the modern workplace. The findings present valuable insights and further understanding of the way in which career management perspectives in the KBOs should be emphasized.
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TL;DR: In this paper, the authors present a critique of expected utility theory as a descriptive model of decision making under risk, and develop an alternative model, called prospect theory, in which value is assigned to gains and losses rather than to final assets and in which probabilities are replaced by decision weights.
Abstract: This paper presents a critique of expected utility theory as a descriptive model of decision making under risk, and develops an alternative model, called prospect theory. Choices among risky prospects exhibit several pervasive effects that are inconsistent with the basic tenets of utility theory. In particular, people underweight outcomes that are merely probable in comparison with outcomes that are obtained with certainty. This tendency, called the certainty effect, contributes to risk aversion in choices involving sure gains and to risk seeking in choices involving sure losses. In addition, people generally discard components that are shared by all prospects under consideration. This tendency, called the isolation effect, leads to inconsistent preferences when the same choice is presented in different forms. An alternative theory of choice is developed, in which value is assigned to gains and losses rather than to final assets and in which probabilities are replaced by decision weights. The value function is normally concave for gains, commonly convex for losses, and is generally steeper for losses than for gains. Decision weights are generally lower than the corresponding probabilities, except in the range of low prob- abilities. Overweighting of low probabilities may contribute to the attractiveness of both insurance and gambling. EXPECTED UTILITY THEORY has dominated the analysis of decision making under risk. It has been generally accepted as a normative model of rational choice (24), and widely applied as a descriptive model of economic behavior, e.g. (15, 4). Thus, it is assumed that all reasonable people would wish to obey the axioms of the theory (47, 36), and that most people actually do, most of the time. The present paper describes several classes of choice problems in which preferences systematically violate the axioms of expected utility theory. In the light of these observations we argue that utility theory, as it is commonly interpreted and applied, is not an adequate descriptive model and we propose an alternative account of choice under risk. 2. CRITIQUE
35,067 citations
27,773 citations
01 Jan 1996
TL;DR: The primary contribution of the paper is in exploring the coordination mechanisms through which firms integrate the specialist knowledge of their members, which has implications for the basis of organizational capability, the principles of organization design, and the determinants of the horizontal and vertical boundaries of the firm.
Abstract: Given assumptions about the characteristics of knowledge and the knowledge requirements of production, the firm is conceptualized as an institution for integrating knowledge. The primary contribution of the paper is in exploring the coordination mechanisms through which firms integrate the specialist knowledge of their members. In contrast to earlier literature, knowledge is viewed as residing within the individual, and the primary role of the organization is knowledge application rather than knowledge creation. The resulting theory has implications for the basis of organizational capability, the principles of organization design (in particular, the analysis of hierarchy and the distribution of decision-making authority), and the determinants of the horizontal and vertical boundaries of the firm. More generally, the knowledge-based approach sheds new light upon current organizational innovations and trends and has far-reaching implications for management practice.
12,839 citations
TL;DR: In this paper, the authors explore the coordination mechanisms through which firms integrate the specialist knowledge of their members, which has implications for the basis of organizational capability, the principles of organization design, and the determinants of the horizontal and vertical boundaries of the firm.
Abstract: Given assumptions about the characteristics of knowledge and the knowledge requirements of production, the firm is conceptualized as an institution for integrating knowledge. The primary contribution of the paper is in exploring the coordination mechanisms through which firms integrate the specialist knowledge of their members. In contrast to earlier literature, knowledge is viewed as residing within the individual, and the primary role of the organization is knowledge application rather than knowledge creation. The resulting theory has implications for the basis of organizational capability, the principles of organization design (in particular, the analysis of hierarchy and the distribution of decision-making authority), and the determinants of the horizontal and vertical boundaries of the firm. More generally, the knowledge-based approach sheds new light upon current organizational innovations and trends and has far-reaching implications for management practice.
11,779 citations