Entrepreneurship researches started to have traction at the start of 1980 and underwent paradigmatic shift. However despite the varied veins of exploration from opportunities to innate traits, entrepreneurship literatures have yet developed a unifying conceptualization and theory with key concepts that can clearly explain why entrepreneurs act the way they do? What inspires them to action? What seduce them to move at all? This paper intends to relate the study of entrepreneurship, entrepreneurial actions and activities with references to thermodynamic and energy gradient manipulation mechanism. Studying business ventures from a process view in an attempt to reconstruct the entrepreneurial process by illustrating a range of relevant perspectives from energy gradients in naturally occurring chemicals and suspension coils, this paper hopes to pull together a unifying theory on entrepreneurship basing on the forces at work with thermodynamic concepts and expressions with gradient-manipulation mechanism to explain the entrepreneurial action-motion phenomena. The gradient-manipulating mechanism and thermodynamic expressions thus become the “nature” invisible hand that operates the motion of actions. Kirzner’s theory of entrepreneurship explains the coordination of markets and of knowledge. It is that knowledge, the recognition of the opportunities in the actual imperfect markets that triggers the gradient-manipulation mechanism. The findings of this paper suggest that entrepreneurial actions are force-driven by the lure of profits to select of best pathways and means to achieve the ends. The idea that entrepreneurial actions are the results of the play of forces with thermodynamic forces at work is a powerful suggestion in the finding of this paper.
{"title":"Thermodynamics and Gradient Manipulation Mechanism in Entrepreneurial Actions","authors":"David Leong","doi":"10.5539/IJBM.V16N9P29","DOIUrl":"https://doi.org/10.5539/IJBM.V16N9P29","url":null,"abstract":"Entrepreneurship researches started to have traction at the start of 1980 and underwent paradigmatic shift. However despite the varied veins of exploration from opportunities to innate traits, entrepreneurship literatures have yet developed a unifying conceptualization and theory with key concepts that can clearly explain why entrepreneurs act the way they do? What inspires them to action? What seduce them to move at all? This paper intends to relate the study of entrepreneurship, entrepreneurial actions and activities with references to thermodynamic and energy gradient manipulation mechanism. Studying business ventures from a process view in an attempt to reconstruct the entrepreneurial process by illustrating a range of relevant perspectives from energy gradients in naturally occurring chemicals and suspension coils, this paper hopes to pull together a unifying theory on entrepreneurship basing on the forces at work with thermodynamic concepts and expressions with gradient-manipulation mechanism to explain the entrepreneurial action-motion phenomena. The gradient-manipulating mechanism and thermodynamic expressions thus become the “nature” invisible hand that operates the motion of actions. Kirzner’s theory of entrepreneurship explains the coordination of markets and of knowledge. It is that knowledge, the recognition of the opportunities in the actual imperfect markets that triggers the gradient-manipulation mechanism. \u0000 \u0000The findings of this paper suggest that entrepreneurial actions are force-driven by the lure of profits to select of best pathways and means to achieve the ends. The idea that entrepreneurial actions are the results of the play of forces with thermodynamic forces at work is a powerful suggestion in the finding of this paper.","PeriodicalId":122208,"journal":{"name":"INSEAD Working Paper Series","volume":"150 9-12","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-07-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114047190","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In the UK context the chair is responsible for and represents the board, while the CEO is responsible for and is the public face of the company. Chairs are accomplished professionals with strong views, but they lead without taking up much space and avoid the limelight. They lead board members by engaging them in a collective effort, creating an environment for effective collaboration and encouraging productive behaviour by providing feedback and opportunities for both group and individual learning and development. They do not give orders or issue directives;instead they steer or nudge followers by setting agendas, framing discussion items, soliciting opinions, and seeking and providing feedback. They set clear expectations and establish rules, but in line with a cultural tradition the latter serve as guidelines rather than set-in-stone laws. During the COVID-19 crisis chairs of British boards demonstrated resilience, commitment and adaptability. They quickly moved their board meetings online, increased the frequency of board interactions and adjusted their agendas. In addition, chairs significantly increased their time commitment and made themselves available round the clock. At the same time most of them steered their boards away from interfering with the management’s job. UK chairs provide exemplary leadership by consistently displaying the attitudes and behaviour they expect others to follow. “Indirect” is probably the most accurate term to describe their leadership style. Board leaders in the UK learn from reflecting on their experience, exchanging with colleagues from other boards, participating in conferences and other learning events and reading specialist literature. They consider enable collective learning of the board one of their priorities and do it by conducting periodical board evaluation, organization reflection sessions, seminars and awaydays and engaging experts and consultants.The COVID-19 accelerated the adoption of technology by British boards. In the future a hybrid format whereby some meetings are held face-to-face and some online will become the norm. Board leaders will be kept busy by balancing increasing regulatory pressures with the need to address strategic issues in a fast-changing, turbulent world. Chairs will ensure that their boards spend more time on risk management, environmental issues and sustainability. Employee health will become an important item for board discussions. By the end of the next decade there will be more women (up to 20 percent) chairing British boards, but this will remain an area dominated by male ex-CEOs in their fifties and sixties.
{"title":"Leading a Board of Directors in The United Kingdom: Indirect Leadership","authors":"Stanislav V. Shekshnia","doi":"10.2139/ssrn.3847691","DOIUrl":"https://doi.org/10.2139/ssrn.3847691","url":null,"abstract":"In the UK context the chair is responsible for and represents the board, while the CEO is responsible for and is the public face of the company. Chairs are accomplished professionals with strong views, but they lead without taking up much space and avoid the limelight. They lead board members by engaging them in a collective effort, creating an environment for effective collaboration and encouraging productive behaviour by providing feedback and opportunities for both group and individual learning and development. They do not give orders or issue directives;instead they steer or nudge followers by setting agendas, framing discussion items, soliciting opinions, and seeking and providing feedback. They set clear expectations and establish rules, but in line with a cultural tradition the latter serve as guidelines rather than set-in-stone laws. During the COVID-19 crisis chairs of British boards demonstrated resilience, commitment and adaptability. They quickly moved their board meetings online, increased the frequency of board interactions and adjusted their agendas. In addition, chairs significantly increased their time commitment and made themselves available round the clock. At the same time most of them steered their boards away from interfering with the management’s job. UK chairs provide exemplary leadership by consistently displaying the attitudes and behaviour they expect others to follow. “Indirect” is probably the most accurate term to describe their leadership style. Board leaders in the UK learn from reflecting on their experience, exchanging with colleagues from other boards, participating in conferences and other learning events and reading specialist literature. They consider enable collective learning of the board one of their priorities and do it by conducting periodical board evaluation, organization reflection sessions, seminars and awaydays and engaging experts and consultants.The COVID-19 accelerated the adoption of technology by British boards. In the future a hybrid format whereby some meetings are held face-to-face and some online will become the norm. Board leaders will be kept busy by balancing increasing regulatory pressures with the need to address strategic issues in a fast-changing, turbulent world. Chairs will ensure that their boards spend more time on risk management, environmental issues and sustainability. Employee health will become an important item for board discussions. By the end of the next decade there will be more women (up to 20 percent) chairing British boards, but this will remain an area dominated by male ex-CEOs in their fifties and sixties.","PeriodicalId":122208,"journal":{"name":"INSEAD Working Paper Series","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-05-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131228010","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Katherine Bobroske, Michael Freeman, Lawrence Huan, Anita Cattrell, S. Scholtes
Although medical research has addressed the clinical management of chronic opioid users, little is known about how operational interventions shortly after opioid initiation can impact a patient’s likelihood of long-term opioid use. Using a nationwide U.S. database of medical and pharmaceutical claims, we investigate the care delivery process at the most common entry point to opioid use: the primary care setting. For patients who return to primary care for a follow-up appointment within 30 days of opioid initiation, we ask who should revisit and potentially revise the opioid-based treatment plan: the initial prescriber (provider concordance) or an alternate clinician (provider discordance)? First, using a fully controlled logistic model, we find that provider discordance reduces the likelihood of long-term opioid use 12 months after opioid initiation by 31% (95% Confidence Interval: [18%, 43%]). Both the instrumental variable analysis technique and propensity-score matching (utilizing the minimum-bias estimator approach) account for omitted variable bias and indicate that this is a conservative estimate of the true causal effect. Second, looking at patient activities immediately after the follow-up appointment, we find that this long-term reduction is at least partially explained by an immediate reduction in opioids prescribed after the follow-up appointment. Third, the data suggest that the benefit associated with provider discordance remains significant regardless of whether the patient’s initial prescriber was their regular primary care provider or another clinician. Overall, our analysis indicates that systematic, operational changes in the early stages of managing new opioid patients may offer a promising, and hitherto overlooked, opportunity to curb the opioid epidemic. This paper was accepted by David Simchi-Levi, healthcare management.
{"title":"Curbing the Opioid Epidemic at its Root: The Effect of Provider Discordance after Opioid Initiation","authors":"Katherine Bobroske, Michael Freeman, Lawrence Huan, Anita Cattrell, S. Scholtes","doi":"10.2139/ssrn.3629032","DOIUrl":"https://doi.org/10.2139/ssrn.3629032","url":null,"abstract":"Although medical research has addressed the clinical management of chronic opioid users, little is known about how operational interventions shortly after opioid initiation can impact a patient’s likelihood of long-term opioid use. Using a nationwide U.S. database of medical and pharmaceutical claims, we investigate the care delivery process at the most common entry point to opioid use: the primary care setting. For patients who return to primary care for a follow-up appointment within 30 days of opioid initiation, we ask who should revisit and potentially revise the opioid-based treatment plan: the initial prescriber (provider concordance) or an alternate clinician (provider discordance)? First, using a fully controlled logistic model, we find that provider discordance reduces the likelihood of long-term opioid use 12 months after opioid initiation by 31% (95% Confidence Interval: [18%, 43%]). Both the instrumental variable analysis technique and propensity-score matching (utilizing the minimum-bias estimator approach) account for omitted variable bias and indicate that this is a conservative estimate of the true causal effect. Second, looking at patient activities immediately after the follow-up appointment, we find that this long-term reduction is at least partially explained by an immediate reduction in opioids prescribed after the follow-up appointment. Third, the data suggest that the benefit associated with provider discordance remains significant regardless of whether the patient’s initial prescriber was their regular primary care provider or another clinician. Overall, our analysis indicates that systematic, operational changes in the early stages of managing new opioid patients may offer a promising, and hitherto overlooked, opportunity to curb the opioid epidemic. This paper was accepted by David Simchi-Levi, healthcare management.","PeriodicalId":122208,"journal":{"name":"INSEAD Working Paper Series","volume":"33 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-03-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124526408","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-02-15DOI: 10.34218/ijm.11.12.2020.038
R. M.
The recession period has made the retail investor to think about his investment plans. To aid the retail investor this study has been undertaken by the researcher. To invest in a fortune company the fundamental analysis is a good start. The retail investor cannot afford the ill decision made without any analysis about the company. The fundamental analysis is totally based on the financial performance of the company. The financial performance analysis could help the initial investors get impressed by the company and may influence them to make investments in the company. The researcher has taken three sectors for the study, which tops even in the recession period. The researcher has collected secondary data – Balance sheet and Income statement – of the companies for the period of last 3 years (2016-2017 to 2018-2019)
{"title":"A Study on Construction of an Investment Portfolio Using Fundamental Analysis","authors":"R. M.","doi":"10.34218/ijm.11.12.2020.038","DOIUrl":"https://doi.org/10.34218/ijm.11.12.2020.038","url":null,"abstract":"The recession period has made the retail investor to think about his investment plans. To aid the retail investor this study has been undertaken by the researcher. To invest in a fortune company the fundamental analysis is a good start. The retail investor cannot afford the ill decision made without any analysis about the company. The fundamental analysis is totally based on the financial performance of the company. The financial performance analysis could help the initial investors get impressed by the company and may influence them to make investments in the company. The researcher has taken three sectors for the study, which tops even in the recession period. The researcher has collected secondary data – Balance sheet and Income statement – of the companies for the period of last 3 years (2016-2017 to 2018-2019)","PeriodicalId":122208,"journal":{"name":"INSEAD Working Paper Series","volume":"16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-02-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126726032","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Relational continuity (RC) refers to an ongoing relationship between a patient and a clinician or clinical team beyond a specific service encounter or disease episode. As a defining characteristic of good medical practice, RC has been shown to confer many clinical and operational advantages and is desired by patients, clinicians, and policymakers alike. Yet despite its many benefits, RC in the primary care setting has been in sharp decline over the past decades, contributing to poorer health outcomes and lower efficiency as well as falling patient and provider satisfaction. Anecdotally, this downward trend has been attributed to a sustained increase in workload caused by a growing and aging population and to changes in the workforce composition caused by burnout and workload pressures. However, there is a dearth of evidence to support or contradict this impression, and the key factors that cause changes in RC are not well understood. As a result, little action is being taken to slow or reverse this trend. We fill this gap by empirically examining the main operational factors that can explain variation in RC both between practices and over time. To do so, we use a unique dataset of primary care consultations corresponding to '10% of England's population over ten years. Using a panel ARDL estimation approach, we show that workload and workforce factors have a significant influence on a primary care practice's ability to provide RC, explaining '36% of the residual within-practice variation after inclusion of all other controls. We also find that three factors alone can explain '45% of the decline in RC over the study period: increasing fragmentation of the workforce caused by i) primary care practitioners shifting to part-time work patterns and ii) greater dependence on temporary staff; a sustained increase in workload caused by iii) greater patient volumes without a proportionate increase in physician-hours. Of these, workforce factors appear to be relatively more important than workload factors, with increasing workforce fragmentation driving '33% of the total decline. We discuss the implications of these findings for patients and primary care practice managers, and we suggest strategies for maintaining levels of RC in the face of these industry trends.
{"title":"Explaining the Erosion of Relational Care Continuity: An Empirical Analysis of Primary Care in England","authors":"Harshita Kajaria-Montag, Michael Freeman","doi":"10.2139/ssrn.3699385","DOIUrl":"https://doi.org/10.2139/ssrn.3699385","url":null,"abstract":"Relational continuity (RC) refers to an ongoing relationship between a patient and a clinician or clinical team beyond a specific service encounter or disease episode. As a defining characteristic of good medical practice, RC has been shown to confer many clinical and operational advantages and is desired by patients, clinicians, and policymakers alike. Yet despite its many benefits, RC in the primary care setting has been in sharp decline over the past decades, contributing to poorer health outcomes and lower efficiency as well as falling patient and provider satisfaction. Anecdotally, this downward trend has been attributed to a sustained increase in workload caused by a growing and aging population and to changes in the workforce composition caused by burnout and workload pressures. However, there is a dearth of evidence to support or contradict this impression, and the key factors that cause changes in RC are not well understood. As a result, little action is being taken to slow or reverse this trend. We fill this gap by empirically examining the main operational factors that can explain variation in RC both between practices and over time. To do so, we use a unique dataset of primary care consultations corresponding to '10% of England's population over ten years. Using a panel ARDL estimation approach, we show that workload and workforce factors have a significant influence on a primary care practice's ability to provide RC, explaining '36% of the residual within-practice variation after inclusion of all other controls. We also find that three factors alone can explain '45% of the decline in RC over the study period: increasing fragmentation of the workforce caused by i) primary care practitioners shifting to part-time work patterns and ii) greater dependence on temporary staff; a sustained increase in workload caused by iii) greater patient volumes without a proportionate increase in physician-hours. Of these, workforce factors appear to be relatively more important than workload factors, with increasing workforce fragmentation driving '33% of the total decline. We discuss the implications of these findings for patients and primary care practice managers, and we suggest strategies for maintaining levels of RC in the face of these industry trends.","PeriodicalId":122208,"journal":{"name":"INSEAD Working Paper Series","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-09-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131651227","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The discussion paper aims to solicit response from different stakeholders, including supervisory agencies, for understanding the risks and likely benefits of collaborative business models between banks and FinTech with an added emphasis on bringing coherence in multiple supervisory priorities like promoting FinTech,addressing climate-risks and sustainable development (SDGs).Though business models for collaboration vary in different jurisdictions, few important examples can be taken to identify common elements that can be replicated in other jurisdictions. The risks inherent in such business models especially in the context of immaturity of such business models, incompatible governance framework, moral-hazard and opaque incentive structures, among others, need to be carefully weighed in terms of benefits relating to market efficiency through better product design and wider distribution. Further questions for discussion are presented in the Annex.
{"title":"Discussion Paper on Collaborative Business Models between Banks and FinTech for Green & Sustainable Growth","authors":"M. Singh","doi":"10.2139/ssrn.3670119","DOIUrl":"https://doi.org/10.2139/ssrn.3670119","url":null,"abstract":"The discussion paper aims to solicit response from different stakeholders, including supervisory agencies, for understanding the risks and likely benefits of collaborative business models between banks and FinTech with an added emphasis on bringing coherence in multiple supervisory priorities like promoting FinTech,addressing climate-risks and sustainable development (SDGs).Though business models for collaboration vary in different jurisdictions, few important examples can be taken to identify common elements that can be replicated in other jurisdictions. The risks inherent in such business models especially in the context of immaturity of such business models, incompatible governance framework, moral-hazard and opaque incentive structures, among others, need to be carefully weighed in terms of benefits relating to market efficiency through better product design and wider distribution. Further questions for discussion are presented in the Annex.","PeriodicalId":122208,"journal":{"name":"INSEAD Working Paper Series","volume":"232 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-08-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121302770","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Humanity is facing an increasing number of wicked problems. The COVID pandemic is a telling example. Wicked problems are novel, complex, without a single “right” answer. They provide an ultimate test of leadership, as distinct from management. We suggest that effective leadership in the face of wicked problems calls for a set of virtues that differ from those traditionally associated with “strong” leadership. These virtues also need to be balanced as they may at prima facie appear contradictory. They include confidence and humility, decisiveness and curiosity, honesty and empathy, courage and patience. We discuss specific behaviors through which leaders can enact these virtues. We emphasize that especially in the face of wicked problems, distinct leadership behaviors are required at each of the successive stages of effective decision making. These stages include framing the problem, exploring alternatives, “taking” a decision, executing the decision, and learning from the decision outcomes. Fairness permeates the five-stage process. The proposed five-stage framework for effective leadership in crisis equally applies to problems that are not wicked. We thus provide a common framework for both crisis and more “normal” times, bridging leadership and management.
{"title":"Leading in Wicked Times: A Radical Shift to Inquiry, Humility, and Fairness","authors":"Natalia Karelaia, L. van der Heyden","doi":"10.2139/ssrn.3667556","DOIUrl":"https://doi.org/10.2139/ssrn.3667556","url":null,"abstract":"Humanity is facing an increasing number of wicked problems. The COVID pandemic is a telling example. Wicked problems are novel, complex, without a single “right” answer. They provide an ultimate test of leadership, as distinct from management. We suggest that effective leadership in the face of wicked problems calls for a set of virtues that differ from those traditionally associated with “strong” leadership. These virtues also need to be balanced as they may at prima facie appear contradictory. They include confidence and humility, decisiveness and curiosity, honesty and empathy, courage and patience. We discuss specific behaviors through which leaders can enact these virtues. We emphasize that especially in the face of wicked problems, distinct leadership behaviors are required at each of the successive stages of effective decision making. These stages include framing the problem, exploring alternatives, “taking” a decision, executing the decision, and learning from the decision outcomes. Fairness permeates the five-stage process. The proposed five-stage framework for effective leadership in crisis equally applies to problems that are not wicked. We thus provide a common framework for both crisis and more “normal” times, bridging leadership and management.","PeriodicalId":122208,"journal":{"name":"INSEAD Working Paper Series","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-08-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115843507","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This article tries to sum up lessons all facing any crisis should be aware of. We use the CoVid-19 crisis to illustrate these lessons and put them in a context that concerns us all today. What is particularly painful in the crisis – a fact that motivated the writing of this article - is to see that these principles are regularly ignored. Crisis is not a time for learning or reinventing what should already be known. Crisis management is a time for experienced hands, endowed with healthy doses of both science [or “facts” instead of “science” to make it more generic sounding] and intuition. and that not learning from the past or the present can be very costly. These lessons are organized in a general framework for crisis management that consists of 5 phases to be implemented in a virtuous cycle. Other points made by the framework is that framing and reframing the crisis is key, that the way one gets into a crisis is typically not the way one gets out, and that the how in crisis management is as important as the what.
{"title":"Crisis Management: Framework and Principles with Applications to CoVid-19","authors":"P. Nathanial, L. van der Heyden","doi":"10.2139/ssrn.3560259","DOIUrl":"https://doi.org/10.2139/ssrn.3560259","url":null,"abstract":"This article tries to sum up lessons all facing any crisis should be aware of. We use the CoVid-19 crisis to illustrate these lessons and put them in a context that concerns us all today. \u0000 \u0000What is particularly painful in the crisis – a fact that motivated the writing of this article - is to see that these principles are regularly ignored. Crisis is not a time for learning or reinventing what should already be known. Crisis management is a time for experienced hands, endowed with healthy doses of both science [or “facts” instead of “science” to make it more generic sounding] and intuition. and that not learning from the past or the present can be very costly. \u0000 \u0000These lessons are organized in a general framework for crisis management that consists of 5 phases to be implemented in a virtuous cycle. Other points made by the framework is that framing and reframing the crisis is key, that the way one gets into a crisis is typically not the way one gets out, and that the how in crisis management is as important as the what.","PeriodicalId":122208,"journal":{"name":"INSEAD Working Paper Series","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-03-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114585956","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
How should firms organize their pool of inventive human capital for firm-level innovation? Although access to diverse knowledge may aid knowledge recombination, which can facilitate innovation, pri...
{"title":"Organizing Knowledge Production Teams within Firms for Innovation","authors":"Vikas A. Aggarwal, David H. Hsu, Andy Wu","doi":"10.2139/ssrn.3502246","DOIUrl":"https://doi.org/10.2139/ssrn.3502246","url":null,"abstract":"How should firms organize their pool of inventive human capital for firm-level innovation? Although access to diverse knowledge may aid knowledge recombination, which can facilitate innovation, pri...","PeriodicalId":122208,"journal":{"name":"INSEAD Working Paper Series","volume":"78 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-12-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117297534","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-12-01DOI: 10.17492/pragati.v6i2.188853
P. Ghosh
The present study makes an attempt to provide an insight into the comparative financial performance between two selected oil refineries in India. It also makes an endeavour to observe and test the inter-firm comparison. The objective is to analyse and discuss whether there is any significant difference in financial position and performance between sample firms or not during the period under study. Appropriate financial ratios are selected into a uniform boundary to compare their performance. The data were collected from the secondary sources covering a period from 2005 to 2018. Statistical tools such as mean and variance were applied and F test hypothesis has been done to draw significant conclusions.
{"title":"Comparative Financial Performance of Selected Oil Refineries in India: A Study during the Period 2005-2018","authors":"P. Ghosh","doi":"10.17492/pragati.v6i2.188853","DOIUrl":"https://doi.org/10.17492/pragati.v6i2.188853","url":null,"abstract":"The present study makes an attempt to provide an insight into the comparative financial performance between two selected oil refineries in India. It also makes an endeavour to observe and test the inter-firm comparison. The objective is to analyse and discuss whether there is any significant difference in financial position and performance between sample firms or not during the period under study. Appropriate financial ratios are selected into a uniform boundary to compare their performance. The data were collected from the secondary sources covering a period from 2005 to 2018. Statistical tools such as mean and variance were applied and F test hypothesis has been done to draw significant conclusions.","PeriodicalId":122208,"journal":{"name":"INSEAD Working Paper Series","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133190315","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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