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Crisis, Finance, and Private Equity: An Update

Jamie Morgan
Since mid-2007 private equity finance activity has undergone significant changes. The nature of these changes is intimately related to the current banking crisis and the underlying causes of the ‘credit crunch’ based on the development of an ‘originate and distribute’ model of lending and based on securitisation. These changes significantly affected risk perceptions in the finance system, which in turn qualitatively changed the environment within which risk had been modelled and considered manageable. Private equity finance can thus be explored as both a contributing factor in the current crisis and then as a set of adaptive practices responding to it. This raises important issues regarding how regulators approach private equity finance from a broader context.




Making the Dream Happen: Unifying Marketing and Operations Management

Nevan Wright

Reinhard Huenerberg
This article aims at overcoming the separation of Marketing and Operations Management, two classic management disciplines usually polarized in academic studies and in practice. Two examples – customer satisfaction and multi-channel use, as well as a case study indicate the way this can be done. The authors draw material from research in progress which will result in a new textbook developing a number of ideas on the marketing-operations interface and an overall optimization.




Politics and Worthy Management Agendas

David Butcher

Martin Clarke
The rational model of organising and managing is widely recognised to have significant limitations and equally, organisations of all types are understood to be characterised by internally competing goals and managerial agendas. However, this political dimension, despite its prevalence and inevitability has yet to gain acceptability as the key to managing the plurality of internal organisational interests. This article sets out to explain why this situation continues to exist, describe the necessary political mindset required of an effective manager, and offers some starting points for developing political capabilities.




The Use of Information Technology to Create a Better Workplace for Individuals with Disabilities

Rachel F Adler

Linda Weiser Friedman

Hershey H Friedman
Computer and information technology has made it increasingly easy for disabled people to join the workforce. This paper describes how computer technology can play a role in accomplishing this goal and it examines new and existing technology that can be used to accommodate individuals with particular disabilities, specifically, visual impairment, hearing impairment, speech impairment, learning disabilities, autism, mobility impairment, the elderly, and those with mental health problems - in many cases, promising examples of possible future assistive technology are presented. The disabilities market consists of 750,000,000 people worldwide and is growing rapidly. About 20% of the population of the Unites States is disabled; 25% of the population of the European Union is disabled. Moreover, every demographer is predicting that there will be huge labor shortages in many countries in the near future. It is crucial for firms to find ways to hire more disabled employees since, for one thing, they can be the engine for generating and developing new product ideas for this important group. The diversity we seek to achieve in the workplace includes not only gender and ethnic background, but disability as well.




Aesthetics and the Topology of Risk

Matt Statler

Robert Richardson
Recent strategic management research suggests that organizations operating in volatile environments can become more strategically prepared to deal with unexpected change by cultivating practical wisdom among their leaders and decision-makers (Statler & Roos, 2007, Statler, Roos & Victor, 2006, Statler & Roos, 2006). In this paper, we argue that arts-based, ‘aesthetic’ process techniques can be used to help enterprise risk managers become more strategically prepared to deal with unexpected changes of all kinds. We support this argument by 1) reviewing the recent organizational research that clarifies the relevance of arts and aesthetics for organizations; 2) introducing a distinction between the algebraic calculation of probabilities and the topological imagination of potentialities; and 3) reflecting on how aesthetic methods might be used to enhance risk identification and assessment practices, with particular reference to the collapse of global credit markets in 2007 and 2008. Our goal is to show that the insights generated through aesthetic approaches to risk-oriented decision-making are not just generically different from more traditional approaches, but supportive of practically-wise responses to emergent change.




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