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Journal Article

The past, present, and future of strategy: Broadening challenges; advancing insight

Iberoamerican Journal of Strategic Management 13 (3): 8–18
Subject(s)
Strategy and general management
Keyword(s)
Strategic management, strategy Evolution.
Volume
13
Journal Pages
8–18
ESMT Working Paper

Designing luxury experience

ESMT Working Paper No. 14-04
Vadim Grigorian, Francine Espinoza Petersen (2014)
Subject(s)
Marketing
Keyword(s)
Brand management, luxury brands, luxury marketing, emotions, customer experience, experience design, luxury consumption
In luxury brand management, experiences are essential. However, most of what we know about designing customer experiences originates from work developed with and/or for mass brands. Luxury brands are conceptually different and require a specific approach to brand management. Using a grounded theory approach, we present a framework consisting of seven principles to design luxury experience. Our research suggests that to create a true luxury experience brands should go beyond traditional frameworks of brand management. By compiling best practices and the commonalities amongst the interviewed companies’ most successful efforts to create a luxury experience, the framework can help brands to implement a “trading-up” strategy: Luxury brands can enhance their desirability by offering a true luxury experience and non-luxury brands can adopt principles of luxury experience and become life-style brands.

 

View all ESMT Working Papers in the ESMT Working Paper Series here. ESMT Working Papers are also available via SSRN, RePEc, EconStor, and the German National Library (DNB).

Pages
24
ISSN (Print)
1866–3494
Book Chapter

The LIBOR market model: A Markov-switching jump diffusion extension

In Hidden Markov models in finance: Further developments and applications, 2 vols. edited by Rogemar S. Mamon, Robert J. Elliott, 85–116. New York: Springer.
Lea Steinruecke, Rudi Zagst, Anatoliy V. Swishchuk (2014)
Subject(s)
Finance, accounting and corporate governance
Secondary Title
Hidden Markov models in finance: Further developments and applications
Pages
85–116
ESMT Case Study

Danica Purg: Entrepreneurial leadership in shaping leadership development (A)

ESMT Case Study No. ESMT-814-0150-1
Subject(s)
Entrepreneurship
Keyword(s)
Leadership, leadership development, entrepreneurship, strategy, change, financial analysis, education administration, education
The teaching objectives for this four-part case series lie at two distinct levels. Ostensibly the main teaching objectives relate to understanding Danica Purg's own entrepreneurial leadership style and its appropriateness for her own as well as other small and large organizations. But never far from the surface are underlying questions and related teaching objectives about the type of managers, leaders, and entrepreneurs that the world (and particularly her part of the European world) will need in the future, and how the needed capacities can best be developed- a subject on which she has strong and provocative opinions.
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ESMT Case Study

Danica Purg: Entrepreneurial leadership in shaping leadership development (B)

ESMT Case Study No. ESMT-814-0151-1
Subject(s)
Entrepreneurship
Keyword(s)
Stakeholder perspectives, leadership, leadership development
The teaching objectives for this four-part case series lie at two distinct levels. Ostensibly the main teaching objectives relate to understanding Danica Purg's own entrepreneurial leadership style and its appropriateness for her own as well as other small and large organizations. But never far from the surface are underlying questions and related teaching objectives about the type of managers, leaders, and entrepreneurs that the world (and particularly her part of the European world) will need in the future, and how the needed capacities can best be developed- a subject on which she has strong and provocative opinions.
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ESMT Case Study

Danica Purg: Entrepreneurial leadership in shaping leadership development (C)

ESMT Case Study No. ESMT-814-0152-1
Subject(s)
Entrepreneurship
Keyword(s)
Boards, succession
The teaching objectives for this four-part case series lie at two distinct levels. Ostensibly the main teaching objectives relate to understanding Danica Purg's own entrepreneurial leadership style and its appropriateness for her own as well as other small and large organizations. But never far from the surface are underlying questions and related teaching objectives about the type of managers, leaders, and entrepreneurs that the world (and particularly her part of the European world) will need in the future, and how the needed capacities can best be developed- a subject on which she has strong and provocative opinions.
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ESMT Case Study

Danica Purg: Entrepreneurial leadership in shaping leadership development (D)

ESMT Case Study No. ESMT-814-0153-1
Subject(s)
Entrepreneurship
Keyword(s)
Leadership, leadership development, entrepreneurship, strategy, change, financial analysis
The teaching objectives for this four-part case series lie at two distinct levels. Ostensibly the main teaching objectives relate to understanding Danica Purg's own entrepreneurial leadership style and its appropriateness for her own as well as other small and large organizations. But never far from the surface are underlying questions and related teaching objectives about the type of managers, leaders, and entrepreneurs that the world (and particularly her part of the European world) will need in the future, and how the needed capacities can best be developed- a subject on which she has strong and provocative opinions.
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Journal Article

Designing luxury experience

The European Business Review May/June: 46–50
Vadim Grigorian, Francine Espinoza Petersen (2014)
Subject(s)
Marketing
Journal Pages
46–50
ESMT Working Paper

Financing capacity investment under demand uncertainty

ESMT Working Paper No. 14-03
Francis de Véricourt, Denis Gromb (2014)
Subject(s)
Finance, accounting and corporate governance; Management sciences, decision sciences and quantitative methods
Keyword(s)
Capacity, optimal contracts, financial constraints, newsvendor model
This paper studies the interplay between the operational and financial facets of capacity investment. We consider the capacity choice problem of a firm with limited liquidity and whose access to external capital markets is hampered by moral hazard. The firm must therefore not only calibrate its capacity investment and the corresponding funding needs, but also optimize its sourcing of funds. Importantly, the set of available sources of funds is derived endogenously and includes standard financial claims (debt, equity, etc.). We find that when higher demand realizations are more indicative of high effort, debt financing is optimal for any given capacity level. In this case, the optimal capacity is never below the efficient capacity level but sometimes strictly above that level. Further, the optimal capacity level increases with the moral hazard problem's severity and decreases with the firm's internal funds. This runs counter to the newsvendor logic and to the common intuition that by raising the cost of external capital and hence the unit capacity cost, financial market frictions should lower the optimal capacity level. We trace the value of increasing capacity beyond the efficient level to a bonus effect and a demand elicitation effect. Both stem from the risk of unmet demand, which is characteristic of capacity decisions under uncertainty.

 

View all ESMT Working Papers in the ESMT Working Paper Series here. ESMT Working Papers are also available via SSRN, RePEc, EconStor, and the German National Library (DNB).

Pages
32
ISSN (Print)
1866–3494
ESMT Case Study

Suicides at France Télécom

ESMT Case Study No. ESMT-414-0149-1
Ulf Schäfer, Konstantin Korotov (2014)
Subject(s)
Human resources management/organizational behavior
Keyword(s)
Responsible leadership, change management, corporate responsibility, business ethics, adaptive leadership, corporate communications, corporate culture
The case deals with a dramatic series of suicides at France Télécom between 2008 and 2009. Over a period of 18 months preceding the date of the opening lines of the case, 23 France Télécom employees took their lives. Many of the deceased had left notes blaming work-related stress or management decisions as the reasons for their extreme actions. The French government found it necessary to intervene and demand France Télécom’s management to indicate to the workforce and society that they were taking the situation seriously. The case briefly describes the history of France Télécom, the change initiatives following the deregulation of the European telecommunications industry, and the development of the attention of the French nation and international public toward the company in the aftermath of the suicides and suicide attempts. The case closes citing the response of the government, the company, the unions, psychologists, and stock analysts after a crisis meeting between French Labor Minister Xavier Darcos and France Télécom’s PDG (Chairman of the Board and CEO) Didier Lombard in September 2009.
The case serves as a fertile basis for discussion on responsible leadership, corporate culture, human resources management practices, adaptive change management, corporate social responsibility, or business ethics. It puts the students in a deep thinking mode on questions about the responsibility of organizational leaders for creating healthy working cultures, the impact leadership decisions have on people’s lives, and their own choices as managers or employees in difficult organizational situations. The case can also be used as introductory stimulus material for in-company management training programs on workplace health or suicide prevention.
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