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Why Does Business Need a Balanced Scorecard?

by Robert S. Kaplan David P. Norton

An organization's measurement system strongly affects the behavior of people both inside and outside the organization. If companies are to survive and prosper in information age competition, they must use measurement and management systems derived from their strategies and capabilities. This chapter illustrates why it is critically important that organizations move beyond traditional financial measures to embrace the Balanced Scorecard, which highlights a more general and integrated set of measurements that link current customer, internal process, employee, and system performance to long-term financial success. This chapter was originally published as chapter 2 of "The Balanced Scorecard: Translating Strategy into Action."

Why Does the Other Line Always Move Faster?: The Myths and Misery, Secrets and Psychology of Waiting in Line

by David Andrews

How we wait, why we wait, what we wait for—waiting in line is a daily indignity that we all experience, usually with a little anxiety thrown in (why is it that the other line always moves faster?!?). This smart, quirky, wide-ranging book (the perfect conversation starter) considers the surprising science and psychology—and the sheer misery—of the well-ordered line. On the way, it takes us from boot camp (where the first lesson is to teach recruits how to stand rigidly in line) to the underground bunker beneath Disneyland’s Cinderella Castle (home of the world’s most advanced, state-of-the-art queue management technologies); from the 2011 riots in London (where rioters were observed patiently taking their turns when looting shops), to the National Voluntary Wait-in-Line days in the People’s Republic of China (to help train their non-queuing populace to wait in line like Westerners in advance of the 2008 Olympics). Citing sources ranging from Harvard Business School professors to Seinfeld, the book comes back to one underlying truth: it’s not about the time you spend waiting, but how the circumstances of the wait affect your perception of time. In other words, the other line always moves faster because you’re not in it.

Why Doesn't Capital Flow from Rich to Poor Countries?

by Pádraig Belton

Robert Lucas is known among economists as one of the most influential macroeconomists of recent times – a reputation founded in no small part on the critical thinking skills displayed in his seminal 1990 paper ‘Why Doesn’t Capital Flow from Rich to Poor Countries?’ Lucas’s paper tackles a puzzle in economic theory that has since come to be known as the ‘Lucas paradox,’ and it deploys the author’s brilliant problem solving skills to explain why such an apparent paradox in fact makes sense. Classical economic theory makes a simple prediction of how capital flows between countries: it should, it states, flow from rich to poor countries, because of the law of diminishing returns on capital. Since poor countries have so little capital invested in them, the returns on new investment should be proportionally far better than investment in rich countries. This should mean that investors seeking new opportunities will invest in poorer countries, making capital consistently flow from rich nations to poorer ones. But, problematically, this is not in fact the case. Having defined the problem, Lucas did what any good problem solver would: he looked critically at the criteria involved, and offered a series of possible solutions. Indeed, in just six pages, he puts forward four hypotheses to explain the paradox’s existence. The popularity of his paper, and the influence it has had, are also greatly magnified by careful reasoning embodied in Lucas’s marshalling of evidence and his explanations of the judgements he has made.

Why Don't American Cities Burn?

by Michael B. Katz

At 1:27 on the morning of August 4, 2005, Herbert Manes fatally stabbed Robert Monroe, known as Shorty, in a dispute over five dollars. It was a horrific yet mundane incident for the poor, heavily African American neighborhood of North Philadelphia--one of seven homicides to occur in the city that day and yet not make the major newspapers. For Michael B. Katz, an urban historian and a juror on the murder trial, the story of Manes and Shorty exemplified the marginalization, social isolation, and indifference that plague American cities.Introduced by the gripping narrative of this murder and its circumstances, Why Don't American Cities Burn? charts the emergence of the urban forms that underlie such events. Katz traces the collision of urban transformation with the rightward-moving social politics of late twentieth- and early twenty-first-century America. He shows how the bifurcation of black social structures produced a new African American inequality and traces the shift from images of a pathological black "underclass" to praise of the entrepreneurial poor who take advantage of new technologies of poverty work to find the beginning of the path to the middle class. He explores the reasons American cities since the early 1970s have remained relatively free of collective violence while black men in bleak inner-city neighborhoods have turned their rage inward on one another rather than on the agents and symbols of a culture and political economy that exclude them.The book ends with a meditation on how the political left and right have come to believe that urban transformation is inevitably one of failure and decline abetted by the response of government to deindustrialization, poverty, and race. How, Katz asks, can we construct a new narrative that acknowledges the dark side of urban history even as it demonstrates the capacity of government to address the problems of cities and their residents? How can we create a politics of modest hope?

Why Employees Should Lead Themselves

by Jeffrey Pfeffer

When creative, independent people don't get much say in what their organization does, job dissatisfaction and disengagement are high. This chapter examines what happens when people are asked to take on more responsibility for the collective output of an organization.

Why Europe Grew Rich and Asia Did Not: Global Economic Divergence, 1600-1850

by Prasannan Parthasarathi

Why Europe Grew Rich and Asia Did Not provides a striking new answer to the classic question of why Europe industrialised from the late eighteenth century and Asia did not. Drawing significantly from the case of India, Prasannan Parthasarathi shows that in the seventeenth and eighteenth centuries the advanced regions of Europe and Asia were more alike than different, both characterized by sophisticated and growing economies. Their subsequent divergence can be attributed to different competitive and ecological pressures that in turn produced varied state policies and economic outcomes. This account breaks with conventional views, which hold that divergence occurred because Europe possessed superior markets, rationality, science or institutions. It offers instead a groundbreaking rereading of global economic development that ranges from India, Japan and China to Britain, France and the Ottoman Empire and from the textile and coal industries to the roles of science, technology and the state.

Why Every Company Needs Evidence-Based Management

by Robert I. Sutton Jeffrey Pfeffer

Across industries, failure to find and follow the best logic and evidence leads to relying on conventional wisdom that is frequently incorrect or incomplete, and therefore, potentially hazardous to organizational health. This chapter introduces the ideas behind evidence-based management, and shows how managers and their companies can profit by turning this management technique into a way of thinking.

Why Fashion Matters

by Frances Corner

An illuminating introduction to the expanding influence of fashion from the perspectives of design, technology, sustainability, and business Fashion matters for the economy, to society, and to each of us personally. Faster than anything else, what we wear tells the story of who we are--or who we want to be. It is the most immediate form of self-expression. Yet even as fashion touches the lives of each and every one of us, its influence and the vast creative industry that it supports can seem mysterious to outsiders. In Why Fashion Matters Frances Corner, Head of London College of Fashion, guides readers into the dizzying world of this rapidly expanding, increasingly global, always exciting industry. In provocative and intriguing entries, Corner teases out the glorious intricacies and contradictions of an industry that simultaneously values technology and craft; timeless style and fast fashion; the bespoke and the mass-market; consumption and sustainability; cold, hard numbers; and creative expression. From "Shop 'til We Drop" to "The White Shirt" to "The One Trillion Dollar Business" each entry offers a unique avenue into fashion and its impact, both positive and negative, on lives around the globe.

Why Fiscal Stimulus Programs Fail, Volume 1: The Limits of Accommodative Monetary Policy in Practice

by John J. Heim

This book offers a series of statistical tests to determine if the “crowd out” problem, known to hinder the effectiveness of Keynesian economic stimulus programs, can be overcome by monetary programs. It concludes there are programs that can do this, specifically “accommodative monetary policy.” They were not used to any great extent prior to the Quantitative Easing program in 2008, causing the failure of many fiscal stimulus programs through no fault of their own. The book includes exhaustive statistical tests to prove this point. There is also a policy analysis section of the book. It examines how effectively the Federal Reserve’s anti-crowd out programs have actually worked, to the extent they were undertaken at all. It finds statistical evidence that using commercial and savings banks instead of investment banks when implementing accommodating monetary policy would have markedly improved their effectiveness. This volume, with its companion volume Why Fiscal Stimulus Programs Fail, Volume 2: Statistical Tests Comparing Monetary Policy to Growth, provides 1000 separate statistical tests on the US economy to prove these assertions.

Why Fiscal Stimulus Programs Fail, Volume 2: Statistical Tests Comparing Monetary Policy to Growth Effects

by John J. Heim

This book scientifically tests the assertion that accommodative monetary policy can eliminate the “crowd out” problem, allowing fiscal stimulus programs (such as tax cuts or increased government spending) to stimulate the economy as intended. It also tests to see if natural growth in th economy can cure the crowd out problem as well or better. The book is intended to be the largest scale scientific test ever performed on this topic. It includes about 800 separate statistical tests on the U.S. economy testing different parts or all of the period 1960 – 2010. These tests focus on whether accommodative monetary policy, which increases the pool of loanable resources, can offset the crowd out problem as well as natural growth in the economy. The book, employing the best scientific methods available to economists for this type of problem, concludes accommodate monetary policy could have, but until the quantitative easing program, Federal Reserve efforts to accommodate fiscal stimulus programs were not large enough to offset more than 23% to 44% of any one year’s crowd out problem. That provides the science part of the answer as to why accommodative monetary policy didn’t accommodate: too little of it was tried. The book also tests whether other increases in loanable funds, occurring because of natural growth in the economy or changes in the savings rate can also offset crowd out. It concludes they can, and that these changes tend to be several times as effective as accommodative monetary policy. This book’s companion volume Why Fiscal Stimulus Programs Fail explores the policy implications of these results.

Why Flexible Work Arrangements Are Not the Answer

by Cathleen Benko Anne Weisberg

Formal flexible work arrangements have been an important step toward increasing work life balance. They provide options other than the traditional workplace expectation that employees will work continuously and full-time and do so consistently in the office. But by focusing on relatively short-term personal situations while ignoring longer-term career implications, FWAs mainly have served as way stations in career paths, sidelining-and even derailing-the careers of FWA program participants. This chapter looks at the reasons why FWAs are not the answer for retaining top performers and developing long-term relationships between employers and employees. This chapter is excerpted from "Mass Career Customization: Aligning the Workplace with Today's Nontraditional Workforce."

Why Focused Strategies May Be Wrong for Emerging Markets

by Tarun Khanna Krishna G. Palepu

Core competencies and focus are now the mantras of corporate strategists in Western economies. But while managers in the West have dismantled many conglomerates assembled in the 1960s and 1970s, the large, diversified business group remains the dominant form of enterprise throughout many emerging markets. As those markets open up to global competition, consultants and foreign investors are increasingly pressuring groups to conform to Western practice by scaling back the scope of their business activities. Already a number of executives have decided to break up their groups in order to show that they are focusing on only a few core businesses. There are reasons to worry about this trend, say the authors. Focus is good advice in New York or London, but something important gets lost in translation when that advice is given to groups in emerging markets.

Why Forests? Why Now?: The Science, Economics, and Politics of Tropical Forests and Climate Change

by Frances Seymour Jonah Busch

Tropical forests are an undervalued asset in meeting the greatest global challenges of our time-averting climate change and promoting development. Despite their importance, tropical forests and their ecosystems are being destroyed at a high and even increasing rate in most forest-rich countries. The good news is that the science, economics, and politics are aligned to support a major international effort over the next five years to reverse tropical deforestation. Why Forests? Why Now? synthesizes the latest evidence on the importance of tropical forests in a way that is accessible to anyone interested in climate change and development and to readers already familiar with the problem of deforestation. It makes the case to decisionmakers in rich countries that rewarding developing countries for protecting their forests is urgent, affordable, and achievable.

Why Games Are Good For Business: How to Leverage the Power of Serious Games, Gamification and Simulations

by Helen Routledge

By tapping into the same psychology that keeps gamers glued to Minecraft or World of Warcraft, innovative organizations are creating their own engaging and flexible learning experiences. They're called Serious Games. This is a practical toolkit for those who want to learn about more serious games and how to apply them in the workplace.

Why Gender Matters in Economics

by Mukesh Eswaran

Gender matters in economics--for even with today's technology, fertility choices, market opportunities, and improved social norms, economic outcomes for women remain markedly worse than for men. Drawing on insights from feminism, postmodernism, psychology, evolutionary biology, Marxism, and politics, this textbook provides a rigorous economic look at issues confronting women throughout the world--including nonmarket scenarios, such as marriage, family, fertility choice, and bargaining within households, as well as market areas, like those pertaining to labor and credit markets and globalization.Mukesh Eswaran examines how women's behavioral responses in economic situations and their bargaining power within the household differ from those of men. Eswaran then delves into the far-reaching consequences of these differences in both market and nonmarket domains. The author considers how women may be discriminated against in labor and credit markets, how their family and market circumstances interact, and how globalization has influenced their lives. Eswaran also investigates how women have been empowered through access to education, credit, healthcare, and birth control; changes in ownership laws; the acquisition of suffrage; and political representation. Throughout, Eswaran applies sound economic analysis and new modeling approaches, and each chapter concludes with exercises and discussion questions.This textbook gives readers the necessary tools for thinking about gender from an economic perspective. Addresses economic issues for women throughout the world, in both developed and developing countriesLooks at both market and nonmarket domainsRequires only a background in basic economic principlesIncludes the most recent research on the economics of gender in a range of areas Concludes each chapter with exercises and discussion questions

Why Globalization Works

by Martin Wolf

The debate on globalization has reached a level of intensity that inhibits comprehension and obscures the issues. In this book Martin Wolf explains how globalization works as a concept and how it operates in reality. He confronts the charges against globalization and offers a realistic scenario for the future.

Why Globalization Works

by Martin Wolf

A powerful case for the global market economy The debate on globalization has reached a level of intensity that inhibits comprehension and obscures the issues. In this book a highly distinguished international economist scrupulously explains how globalization works as a concept and how it operates in reality. Martin Wolf confronts the charges against globalization, delivers a devastating critique of each, and offers a realistic scenario for economic internationalism in the future. Wolf begins by outlining the history of the global economy in the twentieth century and explaining the mechanics of world trade. He dissects the agenda of globalization’s critics, and rebuts the arguments that it undermines sovereignty, weakens democracy, intensifies inequality, privileges the multinational corporation, and devastates the environment. The author persuasively defends the principles of international economic integration, arguing that the biggest obstacle to global economic progress has been the failure not of the market but of politics and government, in rich countries as well as poor. He examines the threat that terrorism poses and maps the way to a global market economy that can work for everyone.

Why Globalization Works for America: How Nationalist Trade Policies Are Destroying Our Country

by Edward Goldberg

Blue-collar job loss, immigration, trade deficits—Americans blame globalization for a host of problems. Indeed, even in a political system split by fundamental divisions, populists and progressives alike belong to a chorus that decries globalization&’s effects on our politics, way of life, and interactions with the world. Yet the United States is the biggest beneficiary of the global economy it has helped to create. Edward Goldberg argues that globalization is the economic and cultural version of evolution, a natural process that pushes people into more efficient behavior influenced by the market and our human need to explore, change, and grow. Properly implemented, it propels cultures and societies forward as one new idea challenges or blends into another. Harmful nationalist policies have arisen because Americans do not equally share globalization&’s benefits, a situation made worse by the government&’s refusal to implement policies that would mitigate the rampant inequalities. A bold challenge to popular opinion, Why Globalization Works for America offers a historically informed analysis of why we should celebrate globalization&’s place in our lives.

Why Good Companies Go Bad

by Donald N. Sull

One of the most common business phenomena is also one of the most perplexing: when successful companies face big changes, they often fail to respond effectively. Many assume that the problem is paralysis, but the real problem, according to Donald Sull, is active inertia--an organization's tendency to persist in established patterns of behavior. Most leading businesses owe their prosperity to a fresh competitive formula--a distinctive combination of strategies, relationships, processes, and values that sets them apart from the crowd. But when changes occur in a company's markets, the formula that brought success instead brings failure. Stuck in the modes of thinking and working that have been successful in the past, market leaders simply accelerate all their tried-and-true activities. In attempting to dig themselves out of a hole, they just deepen it. In particular, four things happen: strategic frames become blinders; processes harden into routines; relationships become shackles; and values turn into dogmas. To illustrate his point, the author draws on examples of pairs of industry leaders, like Goodyear and Firestone, whose fates diverged when they were forced to respond to dramatic changes in the tire industry. In addition to diagnosing the problem, Sull offers practical advice for avoiding active inertia. Rather than rushing to ask, "What should we do?" managers should pause to ask, "What hinders us?" That question focuses attention on the proper things: the strategic frames, processes, relationships, and values that can subvert action by channeling it in the wrong direction.

Why Good Girls Don't Get Ahead... But Gutsy Girls Do: Nine Secrets Every Working Woman Must Know

by Kate White

For years Kate White lived as a good girl - a rule follower, a people pleaser, a busy beaver - until she was passed over for the job of editor-in-chief of a magazine she had been running for months. She finally realized that being gutsy, not good, was the only way to succeed. And did she ever! Kate went on to create a bold new editorial position at one magazine, she accepted the top spot at another when she was seven months pregnant, and she became editor-in-chief at McCall's magazine as a working mother who intended to spend time with her kids. Today she is the editor-in-chief of Redbook, one of the hottest magazines in the country. Now Kate White tells you how she changed her style and self-image - and gives you specific, straight-from-the-shoulder advice about how to put your life in high gear and make your own career dreams come true. Based on how the real world works, her nine-step program shows you how to get ahead and get what you want. Beginning with a revealing self-test for you to determine how good, or gutsy, you are right now, White reveals the nine strategies every career woman must know, while she shares the inside stories of how other gutsy women - like Revlon's Andrea Robinson, television host Nancy Glass, renowned decorator Alexandra Stoddard, Easy Spirit shoe exec Claire Brinker, and former Reagan media advisor Merrie Spaeth - became stars in their fields.

Why Good Leaders Make Bad Decisions

by Sydney Finkelstein Jo Whitehead Andrew Campbell

Feature

Why "Good" Managers Make Bad Ethical Choices

by Saul W. Gellerman

How can usually honest, intelligent, compassionate human beings act in ways that are callous, duplicitous, dishonest, and wrongheaded? Unethical behavior is found everywhere, and ambitious managers facing murky borderlands between right and wrong sometimes cross over the line. Their decisions ruin people's lives, destroy institutions, and give business as a whole a bad name. But executives can establish effective guidelines to ensure their corporations' survival. There are practical solutions to the rationalizations that give way to unethical behavior.

Why Good People Can't Get Jobs: The Skills Gap and What Companies Can Do About It

by Peter Cappelli

Peter Cappelli confronts the myth of the skills gap and provides an actionable path forward to put people back to work.<P> Even in a time of perilously high unemployment, companies contend that they cannot find the employees they need. Pointing to a skills gap, employers argue applicants are simply not qualified; schools aren't preparing students for jobs; the government isn't letting in enough high-skill immigrants; and even when the match is right, prospective employees won't accept jobs at the wages offered.<P> In this powerful and fast-reading book, Peter Cappelli, Wharton management professor and director of Wharton's Center for Human Resources, debunks the arguments and exposes the real reasons good people can't get hired. Drawing on jobs data, anecdotes from all sides of the employer-employee divide, and interviews with jobs professionals, he explores the paradoxical forces bearing down on the American workplace and lays out solutions that can help us break through what has become a crippling employer-employee stand-off.<P> Among the questions he confronts: Is there really a skills gap? To what extent is the hiring process being held hostage by automated software that can crunch thousands of applications an hour? What kind of training could best bridge the gap between employer expectations and applicant realities, and who should foot the bill for it? Are schools really at fault?<P> Named one of HR Magazine's Top 20 Most Influential Thinkers of 2011, Cappelli not only changes the way we think about hiring but points the way forward to rev America's job engine again.

Why Great Men Fall

by Wayde Goodall

Your head sits heavily in your hands as the last employee turns out the last light and goes home for the night, leaving you alone in the dark with your failure and desperation. This scene is played-out daily in offices all over America, as leaders in corporations, churches, and organizations free-fall from moral or ethical failure. Wayde Goodall has observed this quagmire for decades, counseling those who have thrown away their families and their futures for a moment of pleasure or profit. Profiling well-known leaders who've had a fall from grace, Goodall notes the common traits, warning signs, and most importantly, a plan for avoiding such deadly traps of the soul. For everyone who has found himself in this terrible dilemma, and to those who can still avoid it, this book is like a beacon. There is a fail-safe guide for remaining on the right path, and Why Great Men Fall illustrates that safe route in a riveting way. One after the other, great men are falling like dominoes as they defy the profound wisdom of Scripture, make themselves into their own god and satisfy their most base desires. If you are already experiencing substantial fame, power or wealth or, more importantly, if you are approaching that possibility in your life, this well be one of the most important books you will ever read. -Barry Meguiar, President/CEO of Meguiar?s, Inc, and host of FOX?s Speed Channel program, Car Crazy Television Wayde Goodall has shared a brief but masterful guide to leadership in WHY GREAT MEN FALL. Having known Wayde as an exceptional leader for over 20 years, it is obvious that this is the life story and lessons learned by a great, humble leader whose "life lessons" blended with the truth of God's Word, give us a page turner that addresses the personal issues of today. -Dr. Tom Phillips, Director of the Billy Graham Cove & Director of Crusades for Billy Graham Crusades Anyone can read the headlines. It takes a finer mind to go behind the faces of scandalized celebrities and their lurid exploits. Dr. Goodall combines discernment, insight, and an engaging contemporaneity to turn the tale of the fallen into wisdom for those willing to learn.-Mark Rutland, President, Southeastern University

Why Growth Matters: How Economic Growth in India Reduced Poverty and the Lessons for Other Developing Countries

by Jagdish Bhagwati Arvind Panagariya

In its history since Independence, India has seen widely different economic experiments: from Jawharlal Nehru’s pragmatism to the rigid state socialism of Indira Gandhi to the brisk liberalization of the 1990s. So which strategy best addresses India’s, and by extension the world’s, greatest moral challenge: lifting a great number of extremely poor people out of poverty? Bhagwati and Panagariya argue forcefully that only one strategy will help the poor to any significant effect: economic growth, led by markets overseen and encouraged by liberal state policies. Their radical message has huge consequences for economists, development NGOs and anti-poverty campaigners worldwide. There are vital lessons here not only for Southeast Asia, but for Africa, Eastern Europe, and anyone who cares that the effort to eradicate poverty is more than just good intentions. If you want it to work, you need growth. With all that implies.

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