Abstract This article aims to provide theoretical model for analyzing challenge of asymmetric information in the third sector of economy (which is the most important challenge, preventing the growth and development of third sector), using the theoretical foundation of contract theory and incentive theory with regard to the special characteristics of third sector derived by its special structur...

Mystery shopping has been used to objectively measure whether employees follow the visions of a company’s quality service standards. It then creates a feedback loop that allows companies to train their employees to consistently deliver quality services. The main purposes of this project are aimed at examining (1) the overall benefits of mystery shopper projects in the hospitality business throu...

This paper evaluates the impact that investigation and regulation of the UK petrol industry has had on the profitability of the companies. Using a gross margin for petrol, we estimate a series of variable parameter autoregressive processes. The results demonstrate that the 1979 Monopolies and Mergers Commission investigation into the industry, caused a long-term decline in profit margins in the...

In this paper we employ an agent-based industry simulation model to study the effects of the interplay between individual firms’ market evaluation strategies on the extent of product innovations and overall industry development. In particular, we show that a homogenous industry consisting of companies with focus on historical profits yields high overall industry profits but is very unstable. Th...

Being well off and well connected is no barrier to a belief in nonsense. In fact, the more money you have, the easier it seems for healthcare professionals to liberate you from it. Justin Trudeau, Canada’s premier, created a new science post at cabinet level and is willing to explain quantum computing to a press pack. But even he undergoes cupping, an evidence-free complementary therapy used by...

"Business model" was one of the great buzz-words of the Internet boom. A company didn't need a strategy, a special competence, or even any customers--all it needed was a Web-based business model that promised wild profits in some distant, ill-defined future. Many people--investors, entrepreneurs, and executives alike--fell for the fantasy and got burned. And as the inevitable counterreaction pl...

WHAT IS ENTREPRENEURSHIP? The Merriam-Webster Dictionary definition of entrepreneur is “one who organizes, manages, and assumes the risks of a business or enterprise.” Each of these words is important. Entrepreneurship occurs in a business context, meaning the objective is to sell a product or service and make a profit. In business, risk is associated with uncertainty, which most commonly arise...

a r t i c l e i n f o We study how agents decide between working for firms with profit sharing and firms in which pay is based on individual productivity. Profit sharing has the disadvantages of free riding and adverse selection. The benefit of profit sharing is that it makes easier for agents to signal their productivity. We show that in equilibrium skilled agents are more likely to belong to ...

Since natural gas reserves in North America and Europe are declining, energy companies there can no longer create value by just drilling more wells; they must create value by better managing their current production assets, and by better leveraging technology. In this paper, we analyze the real option to pause production from a well (better management) along with the real option to scale produc...

This paper suggests and elaborates selected factors that are important to the strategic process of organizations within emerging economies whether the organization is public or private, for profit, or, provides a product or a service. The assumptions are that the strategic process applies in any organization, however, the results of strategic analysis, and the implementation of strategy differ ...