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Stakeholder-Focused Accounting: Value Creation and Risks

Idea posted: December 2015
  • Strategy
  • Finance

Current accounting methods inadequately represent and reward stakeholder value creation. Value-creation stakeholder accounting (VCSA) — which combines the disciplines of accounting, value creation and stakeholder theory — is the theoretical foundation for new stakeholding-focused accounting. The best mechanism for implementing the theory is through value-creation stakeholder partnerships (VCSPs), derived from partnership accounting (as opposed to traditional entity convention accounting). 

Idea #571
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fMRI brain scan, 2010 (Source: Wikipedia Commons)

Why the Best Strategic Thinkers Are Both Rational and Emotional

Idea posted: December 2015
  • Strategy
  • Learning & Behaviour

The brain, through the magic of fMRIs (neuroimaging procedures), tells the true story of how the best strategic thinkers think: they deactivate their rational, linear prefrontal cortex, and activate the older, intuitive-sensing parts of the brain that triggers emotions and social awareness — the same parts of the brain on which creative artists draw their inspiration. Move over, Porter. Make room for Picasso. 

Idea #574
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Queen Nefertiti of Egypt, 1350 BC (Courtesy: Neues Museum Berlin)

How a CEO's Attractiveness Can Boost Shareholder Value

Idea posted: December 2015
  • CSR & Governance
  • Leadership & Change
  • Marketing

Personal appearance, from height to attractive facial features, has been shown to positively influence the financial and career success of individuals. New research links CEO attractiveness to shareholder value, demonstrating that the first impression advantage of an attractive physical appearance can have group as well as individual benefits.

Idea #575
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Satan Leaving the Court of Chaos, Paradise Lost, Anon. British, c.1800 (Courtesy: Ackland Art Museum, University of North Carolina)

Expel Expensive Toxic Workers Before Hiring Superstars

Idea posted: December 2015
  • CSR & Governance
  • Leadership & Change
  • Learning & Behaviour

While organizations are focused on acquiring star performers, new research shows that avoiding toxic workers is even more profitable. Watching in job interviews for the red flags of potentially toxic workers — self-regarding, overconfidence, stating that rules should always be followed — can prevent expensive hiring mistakes. 

Idea #576
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Tea pluckers in Darjeeling, 2004 (Source: Wikimedia Commons)

Economic Initiatives Can Lead to Unexpected Behaviours... at First

Idea posted: December 2015
  • Finance
  • Learning & Behaviour

Employee behaviour sometimes contradicts standard economic models. A study of a contract change in India, for example, led to greater output when the models called for less output. As the study reveals, however, the conflicting behaviour was only temporary; over time, employee behaviour in this case complied with the models. The study offers a warning to use longer-term data to measure the impact of economic initiatives or a policy change. 

Idea #568
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Detail from Les Très Riches Heures du duc de Berry, July, c. 1412-1416 (Courtesy: the Musée Condé, Chantilly)

Companies Must Be Sincere About their Flexible Work Arrangements

Idea posted: November 2015
  • Learning & Behaviour

The accepted wisdom is that by helping employees to achieve an optimal work-life balance, flexible work arrangements (FWAs) — theoretically at least — help to increase employee work engagement and commitment to the organization. A new study, showing an inverse relationship between FWAs and work engagement over time, reveals that offering FWAs without a supportive employee culture in place becomes an empty gesture.

Idea #567
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A detail from 'Nighthawks', Edward Hopper, 1942, (Courtesy: The Art Institute of Chicago)

Sleep Deprivation Hurts Performance As Much As Too Much to Drink

Idea posted: November 2015
  • Leadership & Change
  • Learning & Behaviour

How seriously does sleep deprivation impact the productivity and alertness of employees? A classic study compared the effects of sleep deprivation to the effects of alcohol consumption, and showed an identical pattern of impairment. 

Idea #569
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Pepin being crowned King of the Franks by St. Boniface in 751, engraving by Robert Gaguin, Paris, 1514

Why Previous Experience of New CEOs Makes Matters Worse!

Idea posted: November 2015
  • CSR & Governance
  • Leadership & Change
  • Learning & Behaviour

Newly hired CEOs who have held previous CEOs positions are more likely to fail than new CEOs who have never held the top position in a company, according to new research. The reason: they did what they did in the past, without paying attention to the new context.

Idea #570
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Why Anthropomorphism Works In Marketing

Idea posted: November 2015
  • Marketing

Talking geckos and other anthropomorphic “spokes-characters,” are ubiquitous in advertisements. Various studies reveal some of the psychological reasons explaining why and how anthropomorphic marketing works — as well as some of the potential risks.

Idea #564
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Illustration from Europa's fairy book, published by G. P. Putnam's & Sons, 1916 (Source: Wikimedia Commons)

How Best-Self Activation Launches Sustained Performance Improvement

Idea posted: November 2015
  • Leadership & Change
  • Learning & Behaviour

New research confirms that best-self activation — activating a mental representation of your best self — leads to short- and long-term improvement in performance. The research specifically highlights the positive emotional, physiological (e.g. resilience to stress), and cognitive impact of best-self activation.

Idea #565
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President Barack Obama in the Oval Office with daughters Malia and Sasha, 2009 (Source: Wikimedia Commons)

How a Daughter Might Shape the CEO

Idea posted: November 2015
  • CSR & Governance

Can having a daughter impact the decisions of a CEO? The answer is yes, according to new research that compared corporate social responsibility scores of companies whose CEOs had daughters to companies whose CEOs were childless — or only had sons. 

Idea #566
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Millennials 6: Attitudes Differ Based on Age and Gender — Sometimes

Idea posted: October 2015
  • Leadership & Change
  • Learning & Behaviour
Institutions: INSEAD

A global survey of Millennials from around the world looks at the impact of age and gender on attitudes related to issues such as work-life balance, greatest fears, and retirement. (Editor’s Note: This article is based on Part 6 of the survey.)

Idea #560
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Management Practices that Lead to Corporate Social Responsibility

Idea posted: October 2015
  • CSR & Governance
  • Leadership & Change
  • Operations

Superior management quality practices, in areas such as monitoring employee performance, updating operations, setting targets and establishing incentives, will impact the extent of a company’s corporate social responsible practices — notably in issues related to stakeholder concerns, such as diversity, environmental performance and employee relations. 

Idea #554
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‘Circle reflect wikipedia 2’ by Dachris, 2006 (Source: Wikimedia Commons)

The Rise of Integrated Corporate Reporting

Idea posted: October 2015
  • Strategy
  • CSR & Governance
  • Finance

Creating an integrated report enables companies to communicate an holistic picture of their prospects, one that is broader than offered by traditional financial reports. Integrated reports cover strategy, governance, performance and forecasts. A new framework for ‘Integrated Reporting’ (IR) has been created to help organizations bring these elements together. Integrated reports benefit both external stakeholders and leaders within the organization.

Idea #555
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What Influences Our Choices? What Others Prefer or What They Actually Consume

Idea posted: October 2015
  • Strategy
  • Marketing

A series of psychological experiments reveal that people will imitate others’ preferences, but not their actions — a revelation that can have marketing implications. For example, Facebook ‘likes’ are more influential than lists of best-selling products.

Idea #556
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Cultural Transformation Recognition Ceremony at the Jefferson Auditorium, US Department of Agriculture in Washington, DC, 2011 (Source: Wikimedia Commons)

Six Disruptive Demographic Trends and What They Mean for the Workplace

Idea posted: October 2015
  • CSR & Governance
  • Leadership & Change
  • Marketing

While demographics are never stationary, the demographic changes currently impacting the United States are transforming the country, with fundamental implications for how Americans live and work and how businesses in America can thrive. 

Idea #557
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Coffee Break ad from Life Magazine, featuring Gracie Allen and George Burns, 1953 (Source: Wikimedia Commons)

Why Slack Time Is Important for Innovation: It’s Not What You Think

Idea posted: October 2015
  • Innovation & Entrepreneurship

New research shows that innovation efforts benefit from giving employees free time (aka ‘slack time’), but not for the reason you might believe. While Google’s free time initiative might have led to creative new ideas, the real benefit of slack time is to allow innovators to get the administrative and other execution-oriented tasks done.

Idea #558
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Millennials 5: Attitudes and Aspirations in Different Regions of the World

Idea posted: October 2015
  • Leadership & Change
  • Learning & Behaviour
Institutions: INSEAD

Millennials, poised to become the biggest generation in the workforce and the leaders of tomorrow, are less homogenous in attitudes and aspirations than commonly believed. A global survey of Millennials highlights the differences among this generation in the different regions of the world, and even with different countries in those regions. (Editor's Note: this article is based on Part 5 of the survey.)

Idea #559
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Stoughton Wisconsin Tornado of 18 August 2005 (Source: NWS/NOAA, Wikimedia Commons)

The Connection Between Disasters and Less Risk-Averse CEOs

Idea posted: October 2015
  • CSR & Governance
  • Finance
  • Leadership & Change

CEOs who have lived through disasters resulting in significant loss of life are likely to be risk-averse executives. Those, on the contrary, who live through disaster that did not result in significant loss of life tend to be less sensitive to the consequences of risk — and thus more risk-tolerant than the norm.

Idea #561
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The Dutch East India Co. chartered in 1602, a steel engraving by Cool and Rennefeld, Leiden, c. 1880 (Source: Wikimedia Commons)

Why Equity-Based Incentives Work Below the C-Suite

Idea posted: October 2015
  • Leadership & Change

Many companies fear offering equity-based incentives for business unit managers. They believe that compensating business-unit managers based on corporate-wide results will hurt local business unit results. New research shows these fears to be unfounded, and that the right balance of equity-based and profit-based incentives increase results at both the corporate level and the business unit level and increase cross-business-unit collaboration.

Idea #562
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Jean Charles de Menezes, memorial plaque at Stockwell Station, London (Source: Wikimedia Commons)

Bad Framing Leads to Bad Decisions and Bad (Even Fatal) Actions

Idea posted: October 2015
  • Strategy
  • Leadership & Change
  • Learning & Behaviour

Decision makers must frame or ‘make sense’ of events and situations, and then make their decisions accordingly. A groundbreaking analysis of an innocent civilian’s tragic shooting by anti-terrorist police reveals how groups of individuals commit, through the interaction of communication, emotions and material cues, to a single, common frame — in this case an erroneous frame. It is a cautionary tale for leaders and other decision makers, exposing how errors or assumptions can cascade into a complete misunderstanding of situations.

Idea #563
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Royal Herbert Hospital, Woolwich: the Sister, by Edward Ardizzone,1941 (Courtesy: The Imperial War Museum, London)

The Overlooked Productivity Costs of Collaboration

Idea posted: October 2015
  • Leadership & Change
  • Operations

While management theorists and business leaders trumpet knowledge sharing and other advantages of collaboration, new research shows that workforce collaboration also comes with ‘spillover’ time-related costs that hurt productivity. These costs, however, can be managed.  

Idea #552
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When Non-Average Performers Are Targeted by Bullies

Idea posted: October 2015
  • Leadership & Change
  • Learning & Behaviour

As workplace incivility, aggression and harassment continues to worry business leaders and managers, new research explores some of the ways both high performers and poor performers may be inadvertently inspiring their victimization. 

Idea #553
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Marble relief of the Roman Praetorian Guard c50AD (Courtesy: Louvre-Lens Museum, Lens, France)

Transformational Leadership Extra Effective When Employees Have High Self-Esteem

Idea posted: September 2015
  • Leadership & Change
  • Learning & Behaviour

Transformational leadership is key to helping employees reach their full potential. This is especially true, according to new research, for high core self-evaluation (CSE) employees, whose job satisfaction and organizational commitment is significantly strengthened under the influence of transformational leaders. 

Idea #547
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The Incredible Adventures of Professor Branestawm, by Norman Hunter, illustrated by W. Heath Robinson. (Courtesy: Penguin Books, First Published 1933)

Broad Knowledge or Narrow Expertise: What Works Best for Innovation?

Idea posted: September 2015
  • Innovation & Entrepreneurship

Who is most likely to find the innovative breakthrough: an expert with a deep knowledge of the domain or a cross-functional team with broader knowledge and a variety of experience? New research shows that the cross-functional and diverse knowledge approach to innovation can be a double-edged sword: shattering the myopia of experts but not providing the expertise needed to generate novel ideas in the field.

Idea #548
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The Unexpected Creative Effect of Sarcasm

Idea posted: September 2015
  • Innovation & Entrepreneurship
  • Leadership & Change
  • Learning & Behaviour

Sarcasm in the workplace may not be as destructive as once thought. New research shows that expressing or receiving sarcasm can spark creativity through abstract thinking — especially if the sarcasm is directed at or received from a trusted person

Idea #550
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Jimmy Wales in Duisburg, Germany. Champagne reception (Source: Wikimedia Commons)

Designing Experiential Services So Customers Remember the Best Parts

Idea posted: September 2015
  • Innovation & Entrepreneurship
  • Learning & Behaviour
  • Marketing

Customers tend to remember the end of an experience (for example, the last days of a vacation) and also tend to become used to a level of experience (for example, the view from their hotel room). Keeping these two psychological tendencies in mind, companies can structure a customer service encounter that leaves satisfied customers with memories of a great experience — and have them coming back for more.

Idea #551
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Beware of Over-Optimistic Investors Skewing High-Risk Stock Prices

Idea posted: September 2015
  • Strategy
  • Finance

Investor sentiment has a, sometimes erroneous, effect on stock market valuations. There is evidence that higher risk stocks become overpriced in periods of optimistic sentiment and undervalued when sentiment is pessimistic. Optimism attracts equity investment by unsophisticated, overconfident, retail investors in risky opportunities while such traders are less active in pessimistic periods. Thus sentiment can wrongly influence company share prices, and both investors and CFOs planning financial strategy should be wary.  

Idea #549
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Wayuu bags, hand made by women from the Wayuu tribe in Colombia (Source: Wikimedia Commons)

Reusable Grocery Bags: How Green Customers Help the Environment — and Your Business

Idea posted: September 2015
  • CSR & Governance
  • Learning & Behaviour
  • Marketing
  • Operations

Shoppers bringing their own bags help reduce the adverse environmental impact of plastic bags. New research shows, however, that the environment is not the only winner. Environmentally conscious shoppers are inspired to buy more expensive organic products, and reward themselves with unplanned indulgent purchases — a boon to grocery stores.

Idea #542
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What Companies Learn from Customer Satisfaction Surveys

Idea posted: September 2015
  • Marketing

Are customer satisfaction surveys worth the trouble? Addressing and correcting for some of the core issues with customer satisfaction surveys — specifically, that they are based on perceived and not actual performance, and that there is a potential bias in the results based on who fills out the surveys — a new study confirms that they provide vital information for businesses, including the link between performance and customer behaviour.

Idea #543
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