The journal of applied management and entrepreneurship最新文献

{"title":"Gone but Not Forgotten: The Multiple Roles of Moral Disengagement: A Process Model Perspective","authors":"C. Tillman, Marilyn V. Whitman, K. Kacmar, R. Steinbauer","doi":"10.9774/GLEAF.3709.2017.JA.00004","DOIUrl":"https://doi.org/10.9774/GLEAF.3709.2017.JA.00004","url":null,"abstract":"","PeriodicalId":90357,"journal":{"name":"The journal of applied management and entrepreneurship","volume":"1 1","pages":"28-48"},"PeriodicalIF":0.0,"publicationDate":"2017-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83183725","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}

{"title":"Sustainability: A Cross-Industry Study *","authors":"Velma Lee, Amber W. Lo","doi":"10.9774/GLEAF.3709.2016.oc.00004","DOIUrl":"https://doi.org/10.9774/GLEAF.3709.2016.oc.00004","url":null,"abstract":"BUSINESS SCHOLARS AND INDUSTRIES HAVE advocated sustainability for over three decades, but best practices from the field have yet to be captured in a model or framework that informs practitioners of how to engage in sustainability. During the 1980s emphasis was on controlling environmental pollution, and during the 1990s the focus shifted to product stewardship and ethical consumerism (Elkington, 1994). Recently, the focus has been on developing technologies that offer positive influences on the environment (Demirel et al., 2015; Hansen et al., 2015; Toth, 2014; Wong, Nelles, Yong, and Kumar, 2014; Preston, 2001). Sustainability theory is easy to understand, but translating the concept into actionable steps and investments is challenging. This paper identifies firms that are at the forefront of sustainability, and examines common themes advocated, policies set, practices implemented, and outcomes measured for sustained performance and profitability.The World Commission on Environment and Development (WCED) (1987) defines sustainable development as the ability of the current generation to meet its needs without compromising the ability of future generations to meet theirs. We use the Dow Jones definition of sustainability: \"A business approach that creates long-term shareholder value by embracing opportunities and managing risks deriving from economic, environmental and social developments\" (Robecosam, 2013, p. 7). Sustainability is not a fad; it is about creating a permanent shift in the nature of business (Crews, 2010). Since the advent of the paradigm in the 1980s, during which the concern was pollution control, the private sector shifted from a narrow economic conceptualization of responsibility towards a comprehensive approach that balances economic objectives with environmental pressures and changing societal expectations (Robinson et al., 2006; Tanulku, 2014; Kirschke, 2014; Fong and Harris, 2015; Kostevsek et al., 2015). Based on the pioneer work of Stead and Stead (1992), who systematically treated the subject of sustainability with an urgent call for a new economic model, green stakeholders, and strategic positioning, we want to investigate the current landscape of sustainability in firms after more than 20 years and ask, \"what are firms' motivations for wanting to engage in sustainability, and what elements identify, formulate, and measure sustainability?\"Theoretical underpinningsMajor sustainability frameworks cited commonly in the field include the ecological footprint (Rees, 1992), triple bottom line (Elkington, 1997), the Natural Step (Karl-Henrik, 2002), and Graedel and Klees' (2002) Sustainability and Resource Usage. All of these frameworks address sustainability from natural, economic, and social spheres. Stead and Stead (2014) even suggest a spiritual dimension as a basis for sustainable competitive advantage. Sustainability research into a variety of specific communities is emerging (US Fed News, 2015; Bouabid and Louis, 2015; ","PeriodicalId":90357,"journal":{"name":"The journal of applied management and entrepreneurship","volume":"52 1","pages":"31-55"},"PeriodicalIF":0.0,"publicationDate":"2016-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76392850","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}

{"title":"Emotional Intelligence and the Ethic of Care","authors":"Jim A. McCleskey","doi":"10.9774/GLEAF.3709.2016.OC.00007","DOIUrl":"https://doi.org/10.9774/GLEAF.3709.2016.OC.00007","url":null,"abstract":"THE ABILITY TO TEACH INDIVIDUALS in organizational and workplace settings to make ethical decisions has become a significant problem for 21st-century companies (Ferrell, Fraedrich, and Ferrell, 2015). Enron, WorldCom, the housing crisis, and Bernie Madoffhave become unwelcome additions to our daily lexicon. Increasing public outrage has been aimed at both the business community and the business of higher education following the barrage of highly publicized scandals since 2000. A recent National Business Ethics Survey reported that 45% of employees have observed at least one unethical act of workplace misconduct in their organization. It may be argued that ethics has reached the status of an organizational crisis. For perhaps the first time ever, organizations realize that they must be responsible for the ethical instruction of their employees, and they can no longer simply rely on hiring bright and capable people and hoping that they would behave ethically when the situation calls for it (Ferrell et al., 2015). However, this realization creates a problem in many organizations.The problem is the inherent difficulty associated with teaching correct ethical and moral behavior inside workplace and organizational settings. This article includes a review of that specific business problem in light of two unique but connected ideas. The first unique idea is the concept of viewing ethical decisionmaking through a specific framework, the Ethic of Care (E°C). The second unique idea is the concept that leader emotional intelligence (EI) relates to the ability to introduce the E°C as a framework for fostering and encouraging ethical behavior in organizations. In connection with the business problem and the unique ideas, three specific propositions are presented in this paper. In addition to these three propositions, the article includes a discussion of ethics in business, applying ethics, ethics and EI, and the E°C and EI. First, a brief review of the relevant literature is presented.Literature reviewEthics in businessVelasquez (2006) notes that business ethics is applied ethics and that it is the application or understanding of what is good and right to that group of institutions, technologies, transactions, activities, and various pursuits that we refer to as a business. Any discussion of business ethics, therefore, begins by providing a framework of basic principles for understanding what is meant by the terms good and right and only then can one proceed to discuss the various implications these practices have for our business world (Velasquez, 2006). Schlegelmilch (2010) discusses the evolution of applied ethics to specific business disciplines. He also identifies 18 different areas where ethical issues can affect a business environment. Although not all of these areas will be considered here, it may be beneficial to list all 18 areas in order to provide a full framework for the discussion of ethics and business. These areas include: product-related issue","PeriodicalId":90357,"journal":{"name":"The journal of applied management and entrepreneurship","volume":"48 1","pages":"117-132"},"PeriodicalIF":0.0,"publicationDate":"2016-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80373751","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}

{"title":"Family Factors in Small Family Business Growth","authors":"J. Cater, M. Young","doi":"10.9774/GLEAF.3709.2016.OC.00005","DOIUrl":"https://doi.org/10.9774/GLEAF.3709.2016.OC.00005","url":null,"abstract":"IntroductionBusiness goals commonly include survival, profit, and growth. In order to survive, a business needs to be profitable to replenish its resources and to grow to avoid stagnation and to keep abreast of competition. Complicating this process, family businesses may add goals such as enhancing family welfare to this equation. Family goals may not be performance-oriented in nature and may take precedence over the business goals of growth or profitability (Chrisman, Chua, and Steier, 2003). For instance, providing employment for less than fully productive family members may be most important to family business leaders.Scholars have recognized the duality of family businesses, referring to the family side and business side of family firms (Stafford, Duncan, Dane, and Winter, 1999) and hypothesizing that the success of such companies lies in the interplay and management of the two components. While the family side is often considered to be full of emotion and perhaps detrimental to the business, instances occur wherein the family may save the business. For example, the family may use personal savings to help the business through a financial crisis (Stafford et al., 1999). Although the business side is important for firm survival, it is not acceptable to sacrifice the family for the good of the business. This reciprocal impact of the family and the business distinguishes family business studies from all others (Sharma, 2004). Both the family and the business must respond to external disturbances. Therefore, if the family is content, the business is successful, and ifthey both respond appropriately to external events, the family business will be successful.Although there are many definitions of family businesses in the literature, we employ the following definition in this study. A family business isgoverned and/or managed with the intention to shape and pursue the vision of the business held by a dominant coalition controlled by members of the same family or a small number of families in a manner that is potentially sustainable across generations of the family or families (Chua, Chrisman, and Sharma, 1999, p. 25).The focus of our study is on small family businesses. The Small Business Administration defines small businesses in the U.S. as companies with less than 500 employees (or $7.5 million in average annual sales for many nonmanufacturing industries); however, there are exceptions (SBA, 2015).This study addresses how family factors may affect the business goal of growth in small family firms. Is it true that family involvement limits family firm growth? For instance, family firm leaders may entangle family and business goals and relationships (Kidwell, Eddleston, Cater, and Kellermanns, 2013). Relationship conflict may be detrimental in the family firm (Davis and Harveston, 2001), and family members may feel trapped in their family business (Schultze, Lubatkin, and Dino 2003). Conversely, family involvement may strengthen family firm growth.","PeriodicalId":90357,"journal":{"name":"The journal of applied management and entrepreneurship","volume":"29 1","pages":"56-86"},"PeriodicalIF":0.0,"publicationDate":"2016-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82168965","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}

{"title":"The Ideal Team Player: How to Recognize and Cultivate Three Essential Virtues","authors":"S. Hallam","doi":"10.9774/GLEAF.3709.2016.OC.00010","DOIUrl":"https://doi.org/10.9774/GLEAF.3709.2016.OC.00010","url":null,"abstract":"Patrick Lencioni The Ideal Team Player: How to Recognize and Cultivate Three Essential Virtues Jossey-Bass, 2016, $25 (hardcover), 219 pages\"The ideal team player is humble, hungry, and smart.\"the ideal team player is a follow-up to Lencioni's previous book, The Five Dysfunctions of a Team, where he explained that real teamwork requires tangible, specific behaviors such as: vulnerability-based trust, healthy conflict, active commitment, peer-to-peer accountability, and a focus on results. This new book focuses on Lencioni's opinion of what team builders should be searching for in ideal team members. According to Lencioni, the three underlying virtues of ideal team players are: (1) humility, (2) hunger for success, and (3) people smarts. He asserts that leaders who identify, hire, and cultivate employees with these three virtues will have a significant advantage over those who do not. The purpose of the book is to help the reader understand how these three simple attributes can help managers build effective teams quickly and reduce costs associated with negative office politics, high rates of turnover, and workforce morale problems.Lencioni makes use of a story, which he calls a fable, to illustrate his key points. The story involves \"Jeff\" who leaves a CEO position at a Silicon Valley technology start-up to take a job with his Uncle Bob's construction company. Shortly after starting the job, Uncle Bob steps down due to health problems and puts Jeff in charge. As CEO, Jeff's biggest new challenge is quickly hiring 60 new employees to handle two huge new projects. In consultation with the other company executives, it was decided that hiring excellent team players is key. The big question is, how a manager identifies such candidates. What hiring and training processes assure the new employees will be good team players?Pages 192-193 contain 18 questions Lencioni uses to score applicants on the virtues of being humble, hungry, and smart. The humble employee will compliment and praise others, admit mistakes, and share credit for team accomplishments. The hungry employee will do more than is required, have a passion for the mission of the team, and look for opportunities to contribute outside of their area of responsibility. The smart employee is basically people smart as evidenced by understanding what others are feeling, showing empathy, demonstrating interest in the lives of teammates, and by being an attentive listener. Essentially the \"smart\" employee is someone with a high level of emotional intelligence.Lencioni is an excellent story teller and readers will find it hard to put down the book without finding the results of the drama. This 219 page book can easily be read in a few hours and the fable makes it easy to understand and apply the key concepts. The three virtues of being humble, hungry, and smart are undeniably important in building effective teams. …","PeriodicalId":90357,"journal":{"name":"The journal of applied management and entrepreneurship","volume":"37 1","pages":"140-142"},"PeriodicalIF":0.0,"publicationDate":"2016-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81705119","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}

{"title":"The Third Wave: An Entrepreneur’s Vision of the Future","authors":"Craig Randall","doi":"10.9774/GLEAF.3709.2016.OC.00009","DOIUrl":"https://doi.org/10.9774/GLEAF.3709.2016.OC.00009","url":null,"abstract":"Steve Case The Third Wave: An Entrepreneur's Vision of the Future Simon & Schuster, 2016, $18.18 (hard cover), 211 pagesthe third wave covers the challenges faced and lessons learned at the earliest stages of the public internet buildout (the first wave), and proposes that these lessons will be uniquely instructive to entrepreneurs who are currently at the cusp of the third wave-the Internet of Everything. It is not academic work, targeted instead at bookstores' business section.The value of the book is in the first-hand perspective that the author brings- insight from an insider who was \"there at the origin.\" Steve Case is a recognizable name to anyone familiar with the early days of internet growth. He began his professional career in the early 1980s, at the same time that PCs and computer connectivity were becoming available to the public. After a string of startup failures, and being stung in a relationship with Apple, the firm he was with changed its business model and launched the America Online (AOL) dial-up service. With the explosion of public demand for internet access, AOL grew at an incredible rate and was worth, at one point, well over $100 billion.The book chapters are organized in a way that interleaves Case's personal history with his admonitions and projections for the future. The first two chapters cover his early years. Chapter 3 gives a concise overview of how the Internet of Everything might impact healthcare, education and food. Chapter 4 takes us to AOL's early history and with Chapters 5, 6, and 7 we get advice for aspiring entrepreneurs and warnings for existing firms on the opportunity and danger from the emerging third wave. Chapters 8 and 9 tell about AOL's peak, merger with Time Warner, and subsequent decline. The book finishes with the author's thoughts about government's role and then gives general and broad recommendations to multiple audiences.Case's hypothesis is that the lessons of the early internet will directly address the unforeseen challenges that will inevitably arise for pioneers of the coming third wave. His speculation focuses on two conceptions: the level of disruption that will occur and the essential role of government. He links these ideas to the need for partnerships and preparedness. He purports that while founders in the second wave (those riding on the buildout success of the first wave; e.g. Facebook, eBay, Amazon) could succeed with a few talented engineers working alone, those in the first wave could not have been successful without partnerships and coordination spanning many firms. Crucially, the third wave will parallel the first. He states that the level of disruption in the coming third wave will be so great that larger institutions, including government, will and must be involved.During the third wave, a great product will only get you so far. That's because most third wave industries have gatekeepers. …","PeriodicalId":90357,"journal":{"name":"The journal of applied management and entrepreneurship","volume":"10 3 1","pages":"137-139"},"PeriodicalIF":0.0,"publicationDate":"2016-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79683204","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}

{"title":"Who's on the Team, Who Gets to Play","authors":"V. Díaz","doi":"10.9774/GLEAF.3709.2016.OC.00008","DOIUrl":"https://doi.org/10.9774/GLEAF.3709.2016.OC.00008","url":null,"abstract":"A Conversation with Monica Diaz, Vice President, Diversity, Inclusion and Wellness at ESPNMonica Diaz, Vice President of Diversity, Inclusion and Wellness at ESPN, joined the leading media and entertainment sports network in 2012 with extensive experience in the human resources field, specifically in the areas of global diversity and inclusion, talent management and organizational development. In her role, Diaz is the chief architect of ESPN's diversity, inclusion and wellness strategy. Before joining ESPN, she developed a solid career within globally recognized companies, such as Microsoft, Merck & Co. and Sara Lee Corporation.Monica Diaz is responsible for advancing ESPN's global diversity and inclusion philosophy, for leveraging inclusion, work life and wellness initiatives, championing new global diversity initiatives, strengthening employee resource groups and expanding the company's current strategy. She leads the efforts to ensure a contemporary, healthy and flexible work environment that aligns with business priorities at ESPN.In this executive interview, the author explores Diaz's professional perspectives as an executive with breadth of knowledge of the diversity and inclusion (D&I) field in diverse industries. She shares her personal experiences and views about best practices in the field, major challenges and prominent trends in global D&I and how she defines diversity and inclusion through ESPN's singular experience.Author: Monica, you have successful professional experiences in four distinct industries: media, technology, pharmaceutical and manufacturing. In your opinion, what are the key differences in Diversity and Inclusion (D&I) across these industries?Monica Diaz: It is the pace of change and the customer focus. The way in which D&I impacts business is heavily influenced by both.In pharmaceuticals, the business cycle can be quite long. From molecule to finished product, you can have a span of 20 to 25 years. When working with life science, you can't cut any corners. In the ever changing world of technology, the speed of innovation is around six to nine months, while in media you sometimes have to reinvent things in a matter of hours. The pace at which change happens in different industries has a strong impact on how D&I becomes a vital force on daily business decisions.D&I work can also be impacted by differences in the business model. Some industries and companies within those industries operate with a product-focus or a customer-focus. Based on my experience, companies with a relentless focus on their end-customer's potential needs and desires are more agile in adapting to changing demographics and cultural nuances.Author: As a leader in Diversity and Inclusion, you have seen best practices across the U.S. and abroad. What are some of the best practices in the field today?Monica Diaz: Three areas of undeniable best practices in D&I work are:* Clear leadership commitment and engagement* Organizational structures that support t","PeriodicalId":90357,"journal":{"name":"The journal of applied management and entrepreneurship","volume":"12 1","pages":"133"},"PeriodicalIF":0.0,"publicationDate":"2016-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87801413","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}

{"title":"Superbosses: How Exceptional Leaders Master the Flow of Talent","authors":"Joshua E. Marineau","doi":"10.9774/GLEAF.3709.2016.ju.00009","DOIUrl":"https://doi.org/10.9774/GLEAF.3709.2016.ju.00009","url":null,"abstract":"Sydney Finkelstein Superbosses: How Exceptional Leaders Master the Flow of Talent Portfolio/Penguin Publishers, 2016 $16.66 (hard cover), 220 pagesMost of us will encounter a wide range of bosses over our work experience; some terrible, some quite good, and some that might even be great. However, we rarely experience a truly exceptional boss who is transformational and becomes the standard by which all other bosses are measured. But if we do experience such a \"Superboss,\" what exactly makes that boss so special? The book Superbosses: How Exceptional Leaders Master the Flow of Talent provides an interesting and engaging answer.Author Sidney Finkelstein (Steven Roth Professor of Management at the Tuck School of Business at Dartmouth) is a very competent writer and stellar scholar, who keeps the reader's interest for the majority of the 220 pages and nine chapters of the book. This is partly due to how the author intersperses intriguing details from over 200 interviews that he conducted and synthesizes over a decade of research on an array of CEOs, artists, and entrepreneurs. The breadth of sources that Finkelstein draws from is impressive. Leaders such as Lorne Michaels, Bill Walsh, George Lucas, Miles Davis, Ralph Lauren and Oprah, to name a few, demonstrate the diversity inherent in the Superboss idea. Finkelstein shows that Superbosses, despite their apparent differences, share key attributes, practices and perspectives, which are skillfully drawn out from the litany of anecdotes and personal stories. At the core, Superbosses tend to exhibit certain behaviors and practices, such as cultivation and selection of extraordinary talent, passionate uncompromising vision, willingness to accept new ideas, and creation of a culture of competition and cooperation.The book starts by describing three main types of Superboss: Iconoclasts, Glorious Bastards, and Nurturers. Iconoclasts are characterized by their work and passion, and are typically the artists. For Iconoclasts, \"their mission in life is to express what is inside them; to let the rest of us in on what they see, feel and hear\" (p. 25). And through their \"single-minded\" passion, they inspire others, gathering around themselves devoted followers. Iconoclasts are adept at seizing young, untapped talent, and placing them in demanding situations, and accept nothing but their best, all in the name of creating art. Iconoclasts provide freedom for exceptional protegees and colleagues to explore their own limits, but always within the confines of the driving passion and vision of the leader.Glorious Bastards are leaders focused on winning, and at any cost. These Superbosses seem unlikely to provide the environment for personal thriving, but instead they \"understand that in order to win, they need the best people and the best teams\" (p. 27). Again, the focus is on cultivating and developing talent. Pushing talent to extremes is a common theme among Superbosses, but Glorious Bastards do it in such a way tha","PeriodicalId":90357,"journal":{"name":"The journal of applied management and entrepreneurship","volume":"22 1","pages":"124-127"},"PeriodicalIF":0.0,"publicationDate":"2016-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80210705","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}

{"title":"Jay Champion of Elevations Credit Union, 2014 Malcolm Baldrige National Quality Award Recipient","authors":"M. Pryor","doi":"10.9774/GLEAF.3709.2016.ju.00008","DOIUrl":"https://doi.org/10.9774/GLEAF.3709.2016.ju.00008","url":null,"abstract":"Jay Champion is the Chief Operating Officer of Elevations Credit Union. He directs all aspects of the credit union's commercial, consumer, and mortgage lending programs and oversees its retail delivery channels-including all branches, the Elevations call center and remote delivery. Jay is also responsible for governmental affairs, ensuring Elevations maintains excellent relationships with regulators and lawmakers, and marketing, which builds awareness of the Elevations brand and manages communication with current and prospective members.Jay was the executive vice president and chief lending officer with Texans Credit Union before joining Elevations in 2011 and previously served at three other banks in North Texas. He has a BS in Economics and an MBA from Texas A&M University- Commerce, and he is a graduate of the Southwestern Graduate School of Banking at Southern Methodist University.Author: How and why did the executives of Elevations make the decision to apply for the Malcolm Baldrige National Quality Award?Jay Champion: In 2008, Elevations' new CEO Gerry Agnes brought forth the Baldrige framework as a roadmap for the institution to use to focus on continuous improvement and long-term sustainability. Elevations was fundamentally sound and moderately profitable, but the Great Recession was wreaking havoc on many financial institutions and our credit union was stagnating. We needed a path forward-one which was comprehensive in its approach and would help our enterprise create a holistic foundation for future success in the midst of turmoil and uncertainty.Author: How were the executives of Elevations involved in the implementation of the Baldrige initiative?Jay Champion: Gerry quickly gained the endorsement and support of the board of directors for the Baldrige framework. Beginning in the spring of 2009, the leadership team led the credit union through the development of a new Core Purpose, Vision, Values, and a BHAG (Big Hairy Audacious Goal). The entire organization was involved in the discernment of these foundational elements, which significantly contributed to every team member's sense of ownership and pride in these crucial statements and beliefs. Our BHAG became \"We will win the Malcolm Baldrige National Quality Award!\" While the goal was stated as winning the award, the purpose of pursuing Baldrige all along was for the improvements we knew it would drive for our membership and our teams.As the organization changed, matured, learned and grew over the next five years, all of our senior leaders remained engaged and vocal supporters of the Baldrige framework, believing it truly was our playbook for future success. We all grew in our knowledge of the Baldrige criteria together-only a few of us had varying levels of experience working with Baldrige before joining Elevations-but despite varying degrees of knowledge, all leaders supported this work with their voices and their hard work. Over time, the entire organization got behind the effort, ","PeriodicalId":90357,"journal":{"name":"The journal of applied management and entrepreneurship","volume":"12 1","pages":"119-123"},"PeriodicalIF":0.0,"publicationDate":"2016-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87715043","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}

{"title":"Financial Literacy in Family Firms: An Exploratory Examination and Opportunity for Business Owners and Student Learning","authors":"Denise Dickins, Shanan G. Gibson, Michael L. Harris, William C. McDowell","doi":"10.9774/GLEAF.3709.2016.JU.00005","DOIUrl":"https://doi.org/10.9774/GLEAF.3709.2016.JU.00005","url":null,"abstract":"IntroductionTo be successful, a business owner must be well-versed in all aspects of the business from the creative (e.g., idea generation, product development), to the more routine (e.g., hiring and retaining employees, financing operations). Because most entrepreneurs tend to favor the creative side, one of their biggest challenges is the finance and accounting aspects of the business operations from start-up, to sale or transition (Chrisman and Leslie, 1989; Gibson, McDowell, and Harris, 2011; Harris, Grubb and Herbert, 2005; Harris, McDowell, Zhang, and Gibson, 2011).This study has two objectives. First, provide initial empirical evidence about the knowledge of family business owners in five ubiquitous finance and accounting topics. Second, finding the overall knowledge base is not as strong as might be desirable to promote long-term business success, provide practical discussions and informative examples as a primer about the five topics. In doing this, the study seeks to narrow the gap between what business owners should know about a subset of finance and accounting topics and, based on the results of a sample of family business owners, what they actually know.The findings and discussion are accessible and useful to both business owners and educators. Business owners can use the information to improve their financial and accounting knowledge. Educators may find the information useful as a classroom case study.Literature reviewSmall businesses serve as an important source of economic growth and job creation in the U.S. national economy. According to the latest available data of the Small Business Administration (SBA) Office of Advocacy, more than 99% of all current employers are classified as small businesses and employ approximately 50% of private-sector workers (SBA Office of Advocacy, 2012, 2010). In addition, the Office of Advocacy estimates that most of the future job growth will come from the small business sector (SBA Office of Advocacy, 2012, 2010).While there is no denying the impact of small business ownership on the U.S. economy, there are many obstacles that can negatively impact the longterm survival rates of these ventures. Although the situation may not be as dire as U.S. Senator, Paul Rand's claim that nine out of 10 businesses fail (Kessler, 2014), the latest statistics suggest that approximately 66% of small businesses survive their first two years, but the survival rate drops to 39.5% after six years of operation, and to less than 20% after ten years (SBA Office of Advocacy, 2010).Appropriate financial decisions are critical for long-term business survival (Van Auken, Kaufman and Herrman, 2009); and effective financial management is a critical concern of small business owners (Chrisman and Leslie, 1989; Gibson et al., 2011; Harris et al., 2005, 2011). Financial literacy requires both a depth and breadth of knowledge related to, among other things, funding sources, cash flow, debt management, contracting, and inventory cont","PeriodicalId":90357,"journal":{"name":"The journal of applied management and entrepreneurship","volume":"16 1","pages":"57-72"},"PeriodicalIF":0.0,"publicationDate":"2016-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74774184","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}