• The three layers of strategy

      Verweire, Kurt; Peeters, Carine (2018)
      In the past, strategy was simple. You could identify a profitable industry, build a competitive advantage and then protect that advantage at all costs. But in today’s complex and turbulent world, traditional models don’t always apply. Rather than focus on building a sustainable advantage, today’s organisations need to be flexible and agile – ready to move rapidly from one advantage to the next. They need to experiment and innovate. And managers who want to build a sound business strategy need to think in the present, the near future and the further-away future – all at the same time. This white paper examines different theories of strategy and combines them into a new, single, integrated approach – the three layers of strategy.
    • To fit or not to fit: insights in the search for a job

      De Winter, Cecilia; Dewilde, Thomas; Buyens, Dirk (2008)
      The objective of this study is to gain insight in which organisation-specific information job seekers attach importance to, in order to determine whether they fit in an organisation. Our labour market is facing difficulties with inflow of labour forces. On the one hand our tight labour market situation causes that companies are unable to fill in their vacancies. On the other hand a high percentage of unemployed job seekers do not manage to find a job. In his selection-attraction-attrition theory Schneider (1995) states that people do not randomly come and work in an organisation, but that they select themselves in or out of an organisation. A good person-organisation fit can be considered as one of the critical success factors for attracting and retaining employees in a competitive and tight labour market (Kristof, 1997). Building on the above mentioned theories we propose that if organisations clearly communicate about their organisation-specific characteristics in beforehand, job seekers can form a better image of organisations. For organisations this can result in more effective selection processes, whereas for job seekers it can result in more effective application processes. Research until now has not covered this issue. To gain insight into the organisation-specific aspects job seekers attach importance to, a qualitative research was conducted consisting of 27 homogeneously composed focus groups. In a first stage unemployed job seekers were addressed, with special attention for those individuals who are unable or less able to search for a job independently. Next also employees and employment officers were involved in this research. Applying the Delphi-method and other discussion group moderating techniques, we found that clear communication of organisation-specific information plays an important role in the job search process of individuals. Based on the qualitative input throughout the different focus groups, we developed a typology of organisation-specific information items job seekers attach importance to in their search for a job. Key words: job search, labour market
    • To move or not to move? The relationship between career management and preferred career moves

      De Vos, Ans; Dewettinck, Koen; Buyens, Dirk (2006)
      This paper explores professional employees' career move preferences and the impact of both individual and organizational career management. Departing from theoretical work on the “new career”, different types of career moves employees can make on the internal labor market are discussed (i.e. vertical moves, lateral moves, job enrichment and temporary moves). Next, these are related to the literature on both organizational and individual career management. Hypotheses are formulated about professional employees' preferences for making distinct types of internal career moves and about the extent to which these preferences are affected by (a) employees' individual career management initiatives and (b) four distinct bundles of organizational career management practices (succession management, potential assessment, feedback and development). The results of a study among 472 professional employees from one company are presented, which indicate that the preferences for both vertical career moves and moves relating to job enrichment and temporary moves are significantly affected by individual career management, but not by organizational career management practices. The preference for making lateral moves could not be explained by our antecedent variables, but was affected by managerial ambition and variables relating to respondents' family situation. The implications of our findings for stimulating internal career mobility are discussed, and suggestions for further research are made.
    • Total Cost of Ownership as a Tool for Inter-firm Cost Management: A Case in the Belgian Utilities Industry

      Roodhooft, Filip; Van den Abbeele, Alexandra; Peeters, Frank (KU Leuven, Faculteit ETEW, 2005)
    • Toward an integrative framework of strategies that work

      Verweire, Kurt; Ferguson, Tamela; Debruyne, Marion (2007)
      Competitive strategy is at the heart of the field of strategic management. But despite years of academic research, there is a lot of debate about what constitutes competitive strategy and how effective competitive strategies lead to superior performance. In this article, we argue that strategy is about making clear choices (“focus”) and about being different (“differentiation”) on four strategic dimensions, including: Whom do we serve?, What do we provide?, What is our value proposition?, and How do we realize all this? Although recent work has pointed to these conclusions, this paper goes one step further by providing more concrete ideas as to what focus and differentiation really mean for each of the various dimensions and why they matter. As such, we provide managers a framework that can be used to test the extent to which their strategies have the potential to be effective.
    • Towards an integrative framework for strategies that work

      Verweire, Kurt; Ferguson, Tamela; Debruyne, Marion (2007)
    • Transferring Technology by Spinning off Ventures: Towards an empirically based understanding of the spin off process

      Clarysse, Bart; Moray, Nathalie; Heirman, Ans (UGent, Fac. Economie & Bedrijfskunde, 2001)
    • Unconventional monetary policy and bank risk taking

      Matthys, Thomas; Meuleman, Elien; Vander Vennet, Rudi (2018)
      In this paper we use corporate syndicated loan data to study the presence of a bank risk-taking channel of unconventional monetary policy in the United States over the period 2008-2015. To account for both actual policy decisions and anticipation effects, we measure the stance of monetary policy by estimating a financial VAR model. We find that accommodative monetary conditions are associated with overall lower loan spreads. Controlling for borrower creditworthiness, we show that the spread reduction is lower for riskier firms, indicating that risk is appropriately priced during the period of unconventional monetary policy. Banks with low non-performing loan ratios and banks characterized by high revenue diversification offer larger loan spread discounts compared to banks with a large amount of non-performing loans and banks with less income diversification. We also find that banks with low capital ratios, less profitable banks and smaller banks more aggressively reduce the corporate loan spreads following an expansionary monetary policy shock, but only for the safest firms. Our findings indicate that unconventional monetary policy actions of the Federal Reserve are not associated with excessive risk taking by banks in the syndicated loan market.
    • Usefulness of founding relationship marketing frameworks in a business-to-consumer context

      Odekerken-Schröder, Gaby; De Wulf, Kristof (Maastricht Universiteit, 1999)
    • Validity and reliability of scores on the reduced Emotional Intensity Scale

      Geuens, Maggie; De Pelsmacker, Patrick (UGent, Fac. Economie & Bedrijfskunde, 2001)
    • Value-based management control processes to create value through integration: a literature review

      Ameels, Anne; Bruggeman, Werner; Scheipers, Geert (Vlerick Business School, 2002)
      In the last decades, management accounting faced increasing challenges to adopt new approaches, designed to fit the changes in the economic environment and to correct perceived inefficiencies in existing controlling structures. This paper focuses on one of those recent developments, viz. value-based management (VBM). Since VBM is claimed to be changing financial management at the highest level in some of the world's largest companies, this literature review compares the value-based management approaches of six consultants, viz. Stern Stewart & Co, Marakon Associates, McKinsey & Co, PriceWaterhouseCoopers, L.E.K. Consulting and HOLT Value Associates and tries to assess the potential of their management frameworks. Value-based management can be defined as an integrated management control system that measures, encourages and supports the creation of net worth. Although VBM is more than metrics, we first focused on a non-exhaustive number of value-based metrics, divided in two segments, the listed perspective-segment and the non-listed perspective. Since metrics are a means and not the goal of a VBM-program, we compared not only the metrics used by the six consultants, but also analysed their value-based management constructs as a whole. This analysis was based on the fundamental components of a holistic VBM-program, as defined by several researches on value-based management. This comparison revealed some clear similarities between the approaches, but also demonstrates distinctions and different accents. There is for instance a clear unanimity about the focus on maximizing shareholder value, about the conviction that the interests of all stakeholder groups are best served when putting the shareholder first and about the impact of value-based management on collaboration. Notwithstanding the similarities, they all six suggest using different types of measures, combine different systems and processes, have other views on strategy development and advocate their own training & education program.
    • Venture Capital, Private Equity and Earnings Quality

      Beuselinck, Christof; Deloof, Marc; Manigart, Sophie (Vlerick Business School, 2004)
      This paper examines the quality of financial statements reported by private equity (PE) backed companies in the years around the initial PE investment. We study both pre- and post-investment earnings characteristics of a unique hand-collected sample of 556 Belgian unlisted companies, receiving PE financing between 1985 & 1999, and a matched non-PE backed sample. We find strong evidence of upward earnings management in the PE backed sample prior to the investment year, consistent with the hypothesis that entrepreneurs which apply for PE manage earnings upward to catch PE investors' interest. Further, PE backed companies show a significantly higher extent of earnings conservatism compared to matched companies from the investment year on, indicating a governance impact of PE investors on the financial reporting discipline. Finally, we find a marginally higher degree of earnings conservatism for companies receiving PE from non-government related investors compared to companies backed by government-related PE investors. We interpret this stricter financial reporting discipline as being the reflection of a more slack governance by government-related PE investors compared to non-government-related investors. Our results have implications for PE investors as well as for all other stakeholders of PE backed firms.
    • Venture Capital, Private Equity and Earnings Quality

      Manigart, Sophie; Beuselinck, Christof; Deloof, Marc (Vlaamse Overheid - Dep. EWI, 2004)