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Alexander Styhre

The final chapter examines some of the implications of the current challenges in governing corporations, public and semi-public sector organizations such as universities, and industries. The economic concentration appear to correlate with growing economic inequality, but the “deep pockets” of certain market actors, including finance industry institutes, also generate social, political, and cultural effects that further accentuate the changes in the market. For this reason, the finance industry seems particularly complicated to govern and to regulate, blending political activism and market activities, including the introduction of new financial innovations to by-pass or eliminate regulatory control. In order to push down systemic risk—the demon of all finance market actors—legal and regulatory accountability may be needed. The final sections of the chapter examine such proposals and assess their practical utility.

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The Unfinished Business of Governance

Monitoring and Regulating Industries and Organizations

Alexander Styhre

The Unfinished Business of Governance provides an overview of the changing landscape of governance and focuses on the three specific domains of corporate governance, university governance, and market governance. The book examines how changes in competitive capitalism and the wider social organization of society is recursively both determined by, and actively shaping underlying governance ideals and their practices. The shared theme in the various changes of the governance system is that free market theory and ideologies have gradually penetrated governance practices.
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Paul Harvey and Marie T. Dasborough

Talking about schadenfreude feelings can have effects that differ from the intended social functions of the emotion. In this chapter, we contend that schadenfreude is a complex emotion with both positive and negative valence. As such, socially sharing the emotion can have upsides as well as downsides, depending on how it is perceived by others. We illustrate this point by highlighting the benefits of sharing schadenfreude, as well as the negative perceptions that may form regarding the person expressing the schadenfreude. We propose that schadenfreude can play important social functional roles and that talking about it provides valuable information for observers. A number of situational and individual factors––which are not well understood––appear to help determine if the person expressing the schadenfreude is viewed positively or negatively by others. We conclude our chapter with a discussion of practical advice for individuals, as well as directions for future research.

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Paul D. Reynolds

Asked about the major problems they confront, entrepreneurs respond as follows: Early on it was hard for Jason to get partners or investors to take his internet business seriously.1 Getting permits and approvals to provide fuel service for Hobart’s River Marina has taken some time. The main supplier is a Caribbean oil company and they operate on different timetables.2 There is a lack of capital to promote wooden pens for deer and moose. A human-interest television news show on Pens and Puzzles had a spot that improved Christmas sales.3 I found a place for a Ralph’s Pretty Good Groceries and got some people to help fix it up but after 3 weeks they never came back; then there were problems with the electricity.4 Martin started by getting a business license for his publishing company. Then he started getting calls before he was ready to deliver the product. Martin is now trying to complete the first project so he can accept new clients.5 Margaret is still working full-time and starting a bee keeping operation was demanding more money and time than she expected; it is hard to grow the business when you are short on resources.6 When asked about their major challenges, almost two-fifths (38%) of the nascent entrepreneurs mention operational issues and a third (33%) mention obtaining financial support, as shown in Table 8.1. Third on the list is attracting customers, which includes dealing effectively with the competition, mentioned by one quarter (26%). Only one in 33 (3%) expect personal or family issues as a major complication at the beginning of the process. None mentions the potential attraction of other career opportunities. The overwhelming focus is on problems related to establishing the nascent venture.

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Edited by Dirk Lindebaum, Deanna Geddes and Peter J. Jordan

What novel theoretical insights can be gleaned by comparing our theoretical understanding of emotion in relation to how we 'talk about’ emotion at work? Drawing from psychological and sociological thinking, leading emotion researchers respond to this question for ten common and powerful emotions at work. The chapters detail various conditions under which our study of emotions and our talk about them can be at odds or reinforce each other in organizations, and how these differences impact subsequent consequences for organizations and their members.
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Paul D. Reynolds

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Paul D. Reynolds

Being a successful entrepreneur is very satisfying—that is the good news. But effective business creation often involves adjustments in the initial business idea. Some change the business plan as the venture is being implemented. More problematic is that most that enter the start-up process never reach initial profitability. When a nascent venture is abandoned, the individuals involved usually find other ways to participate in the economy. Many, to be sure, are still interested in becoming involved as nascent entrepreneurs. About one in 25 (4%) report making an adjustment to the original business plan.1 About half are considered major variations that may involve dramatic shifts in the products or services; the other half are considered minor shifts in activity. As shown in Table 11.1, almost half (47%) make changes in response to new information about customer preferences or as a reaction to the competition. About one in six (16%) mention financial issues, such as lower revenue, higher expenses, or issues with access to capital. About one in ten (10%) are responding to regulations or other contextual factors. A smaller proportion mention the loss of a critical individual (partner, employee, or contact), unexpected time constraints or other issues.

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Alexander Styhre

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Edited by Dirk Lindebaum, Deanna Geddes and Peter J. Jordan

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Paul D. Reynolds

Committed nascent entrepreneurs, those serious about seeing if they can create a new business, are the majority of those pursuing business creation. Exploratory nascent entrepreneurs, who are making tentative steps but are not sure about this career choice, are a substantial minority. In either case, there are ten things to know about the entrepreneurial experience. 1. It can be very satisfying. The sense of satisfaction and self-confidence among those that create successful businesses is obvious at every turn. Further, most that get involved and discover that their initiatives may not be viable find it a rewarding experience and often pursue other start-up efforts. On the other hand, it is not for everybody and in most developed countries the majority do not participate in business creation.