Abstract: We study conflict of interest in dual agency, where the same agent/agency represents both the buyer and seller. Using residential real estate data, we test two two-sided hypotheses: (1) dual agency affects the sale price; (2) dual agency affects the time to sale. We find no effect of dual agency on average sale price. However, on a small percentage of deals, when an internal buyer with a high willingness-to-pay is available, agents strategically set higher list prices, and earn higher sale prices. We also find that dual agency deals conclude about seven percent faster than cross-agency deals. Therefore, we find little evidence that the conflict of interest, inherent in dual agency, leads to overall negative outcomes in the real estate market.

Abstract: Despite the importance of star employees, there is little theory that addresses the management dilemmas arising with stars. Indeed, although stars make disproportionate contributions to firm performance it is not clear who appropriates this value. We address these gaps through application of incomplete contract theory. First, we lengthen the time horizon extant theory considers to include not only employment relationship formation but also re-contracting. Implications are discussed, including specification of how bargaining power is likely to shift over time from the star to the firm. Second, we expand the range of prescribed governance devices for stars to include policies that increase the stars’ costs of switching employers. Through these extensions a dynamic value appropriation policy is specified that optimizes knowledge generation and firm performance.

Abstract: Rumelt commented in December 2008 that the present economic downturn calls for doing things differently, in a way that denotes such a flexible system deemed necessary for effective management and organizing. For this, the paper makes a distinction between strategy implementation and strategy execution, which is rarely covered in the literature. Implementation concerns putting in place organizing structures and systems, including mid-term strategic planning, while execution concerns ‘strategic performance management’ – the overview, management, and delivery of an executive’s key strategic priorities in daily management. The paper proposes a new conceptual framework on how an executive can manage everyone’s participation in strategy, and to understand how its strategy is being managed. It draws on a framework used popularly by the Japanese, called hoshin kanri.

Abstract: Paralleling the globalization of production activities, new supply chain management models are emerging, differing on the extent to which social and environmental issues and concerns are integrated into processes and relationships. Despite a growing interest in investigating relational approaches to supply chain management based on collaboration, long-term partnerships and transparency among partners their performance consequences are still open to debate. Relying on a mixed method approach, our study both investigates qualitatively the changes occurring in the shift from cost-reduction strategies to value-driven approaches and test their impact on firm performance. Results show the specificities of alternative supply-chain management models, the drivers of CSR integration and the critical dimensions hindering the ability of firms to manage differently stakeholder relations along the chain.

Abstract: Rather than thinking about strategy as value created for a certain place and point in time, this work takes the perspective of strategy as a recurrent process creating value in an evolving world. Following this perspective, the aim of this work is to pinpoint what are some of the elementary aspects of strategy and the evolving world, as part of a wider inquiry guiding organisations how strategy could be made interrelated to an evolving world. As such this work strives towards a taxonomy of an evolving world and of strategy, and suggests two basic categorizations. Based on a synthesis of these two categorizations, some of the basic interrelations are illustrated and a brief overview of a process guiding strategy in an evolving world is outlined.

Abstract: Does process orientation matter? Several organizations choose to be process-oriented. They focus on business processes instead of emphasizing functional structures. This paper empirically explores the relationship between process orientation (PO) and non-financial firm performance. Process orientation is measured by means of ten dimensions. Firm performance is measured by customer satisfaction, product quality, time to market, delivery time and delivery reliability. It is also examined if firm size and manufacturing process type moderate the investigated relationships. The paper uses a sample of Austrian firms operating in metal and machinery industry. Preliminary findings indicate that PO is related positively to all aforementioned performance dimensions.