Leadership and strategy are intricately connected--one of the primary responsibilities of leaders is to formulate strategy. In an organization, only the leader has the power to implement strategic change. Thus strategic thinking is a necessary and fundamental cognitive ability of a leader. Strategic thinking requires both an idealism (to imagine a better world) and a realism (to acquire the resources, skills and organization to get there). However, most organizations focus on short-term thinking for their employees and leave long-term strategy to the executives. But no high-level executive in any organization is fully knowledgeable about the details of operations. Thus for realistic strategy, there is a need for good top-down and bottom-up communication. When organizational communication is only top-down, high-level strategy can become only wishful thinking by the CEO. The purpose of proper strategic thinking is to eliminate wishful-thinking from organizational strategy. Strategic thinking is necessary at every level of an organization, not just at the top. This book uses actual histories of business successes and failures to illustrate theoretical concepts in strategic thinking.

Strategy needs to be partly idealistic and partly realistic. On the one hand, it exists to help managers and executives envision the most beneficial future possible-one that is optimally competitive and profitable. But such visualizing needs to go hand-in-hand with concrete planning. In order to formulate a strategy that will really work, organizations need to master the technique of modelling in order to plan what can properly be called strategic business model, a model that both depicts the operations of a business and that provides the analytical basis for examining and formulating the plan for the future operations of a firm. Here leading expert Frederick Betz reviews the strategic modelling technique and applies it to diverse kinds of businesses, both productive and financial, and including banks and hedge funds. He illustrates the possibilities of this technique-and the pitfalls of using it incorrectly-by applying it to real business cases, some successful and some problematic. As strategic business models are important to understand the transformative operations of an enterprise system for present and future competitiveness, Betz's exploration into both manufacturing and financial firms, along with retailing firms and conglomerates, broadens the business literature. Strategic Business Models: Idealism and Realism in Strategy is essential reading for managers and strategists wishing to optimize the effectiveness of their strategic planning.

This book aims to explore stability in an international financial system using disequilibrium theory. It examines historical cases of both instability and stability and reviews price-disequilibrium theory to construct a theoretical model for a stable international financial system. In the modern knowledge economy in a global world, financial socio-technical systems still continue to be central to global commerce. Moreover, technological advances in computer and communications have changed both the knowledge economy and the financial system. While globalization and technology have made international finance more powerful and important to knowledge economies, they have also increased the volatility, instability, and fraudulent use of international finance. The international world has not experienced a long-term, stable financial system after 1913. International financial systems have been periodically unstable, triggering financial crises and resultant economic depressions in different nations. Yet the global economy cannot develop properly without a stable international system, which distributes wealth to economically productive activities. How then can a stable and modern international-financial-system be constructed? In this provocative volume, the authors applies the cross-disciplinary analysis of societal dynamics to important economic writers to derive a new approach to the problem of stabilizing international financial systems.

Bank panics have always mattered because they create serious disruptions in economic and financial activity, depressing national economies. But they matter even more now, as information and communications technologies have stitched together a global financial system that is more vulnerable to crisis on a large scale. For example, the global bank panic of 2007-08 froze up the national economies of the U.S., England, France, Iceland, Ireland, and Germany -- all at the same time. And each of their governments had to act to bail out their own banks, without a consistent international regulatory framework.

In this volume, Fred Betz takes a unique, cross-disciplinary approach to understanding bank panics, with an emphasis on the U.S. Bank Panics of 1857, 1907, 1930-33, 2007-08 and the European Bank Panics of 2010-2013. Despite over a hundred years of modern economic theory and many excellent historical studies about bank panics, they are still poorly understood and certainly not yet preventable. Partly this has been a function of the limitations of modern economic theory, which cannot interpret bank panics as complex societal phenomena. All societal phenomena are, in reality, multi-disciplinary in scope and cross-disciplinary in connections. Bank panics can best be understood through the collective lenses of sociology, political science, psychology, management science, management of technology, among other disciplines. Through this dynamic approach, the author identifies five key underlying triggers of bank panics: (1) funding excessive leverage in speculation, (2) lack of proper banking regulation, (3) bad banking practices, (4) lack of banking integrity, (5) corrupt banking practices. In so doing, he suggests new strategies for avoiding and recovering from bank panics and other financial crises."

Innovation continues to drive economic development and business competitiveness. In the past centuries, innovation has been focused around national and international business development. But in the twenty-first century, innovation is occurring in a global context, with the factors of innovation changing for success in global competitiveness. While many innovation theories abound, the real test of validity is an empirical success in using innovation to enter and succeed in global markets. While Japan was the principle success story for innovation and competitiveness in the second half of the twentieth century, Korea now has become the exemplar of global success. What strategies and factors have successful Korean firms implemented to achieve global stature? In 2012, Samsung became the largest electronics company in the world, dominating markets in memory semiconductors and displays and smart phones. Hyundai became the fifth largest automobile manufacturer in global markets. Posco had emerged from a national steel company into a global company. We review modern innovation theory and examine its practices in cases of successful Korean companies which have attained global stature. We will learn from the Korean experience in global competition, six important principles about the interaction between the economy and innovation: (1) a dynamic firm capability in both innovation and capital commitment, (2) an industrial economy-of-scale of innovative production capabilities (3) an industrial economy-of-speed in innovating new products, (4) a strong national research & development capability for advancing technology, (5) a strong national university system for developing educated human resources, and (6) a strong national infrastructure capability for fostering commercialisation of new business. Also, we learn that in the global marketplace for any competitive nation, there is no such thing as a 'post-industrial economy'.

In 1988 when Higher Education in Partnership with Industry was published by Jossey-Bass (now part of Wiley), university-business partnerships were moving well beyond land grant campuses to varied college and university settings. This was among the first book-length works on the subject. Currently, academe is being redefined against its will by world-wide recession and efforts in the political sphere to balance budgets rather than invest in education and research. Disruptive technologies and a shift to an information management-based economy have emerged at a time of deep cuts in state funding of higher education and reduced federal investment in university-based research. As a result, ever-closer ties with business and industry may be needed for some institutions to thrive. Balancing needs for institutional support, research funding, and curricula that prepare students to be employed in a tough economy with the traditional goals and values of academe is no easy task. With government, business and industry, and students demanding that curricula focus on the so-called STEM subjects-science, technology, engineering, and math--academe is under enormous pressure to soften its core commitment to general education and the liberal arts. In the book, Powers and Powers address the benefits of cooperation between higher education and industry; cooperative approaches to education and research; examples of innovative alliances; creation of successful partnerships; reconciliation of differing needs of academe and industry; establishment of sound contracts and oversight procedures; and future challenges for educational alliances. The book also includes valuable chapters on Partnerships for Training by Carol B. Aslanian, then of the College Board, and Organizing and Operating a Cooperative Research Center by Frederick Betz, then of the National Science Foundation.

This is a reproduction of a book published before 1923. This book may have occasional imperfections such as missing or blurred pages, poor pictures, errant marks, etc. that were either part of the original artifact, or were introduced by the scanning process. We believe this work is culturally important, and despite the imperfections, have elected to bring it back into print as part of our continuing commitment to the preservation of printed works worldwide. We appreciate your understanding of the imperfections in the preservation process, and hope you enjoy this valuable book.

This is an EXACT reproduction of a book published before 1923. This IS NOT an OCR'd book with strange characters, introduced typographical errors, and jumbled words. This book may have occasional imperfections such as missing or blurred pages, poor pictures, errant marks, etc. that were either part of the original artifact, or were introduced by the scanning process. We believe this work is culturally important, and despite the imperfections, have elected to bring it back into print as part of our continuing commitment to the preservation of printed works worldwide. We appreciate your understanding of the imperfections in the preservation process, and hope you enjoy this valuable book.

At both a micro-information level and a macro-societal level, the concepts of "knowledge" and "wisdom" are complementary - in both decisions and in social structures and institutions. At the decision level, knowledge is concerned with how to make a proper choice of means, where "best" is measured as the efficiency toward achieving an end. Wisdom is concerned with how to make a proper choice of ends that attain "best" values.

At a societal level, knowledge is managed through science/technology and innovation. And while science/technology is society's way to create new means with high efficiencies, they reveal nothing about values. Technology can be used for good or for evil, to make the world into a garden or to destroy all life. It is societal wisdom which should influence the choice of proper ends -- ends to make the world a garden.

How can society make progress in wisdom as well as knowledge? Historically, the disciplines of the physical sciences and biology have provided scientific foundations for societal knowledge But the social science disciplines of sociology, economics, political science have not provided a similar scientific foundation for societal wisdom. To redress this gap, Frederick Betz examines several cases in recent history that display a fundamental paradox between scientific/technological achievement with devastating social effects (i.e., historical events of ideological dictatorships in Russia, Germany, China, and Yugoslavia). He builds a new framework for applying social science perspectives to explain societal histories and social theory. Emerging from this methodological and empirical investigation is a general topological theory of societal dynamics. This theory and methodology can be used to integrate history and social science toward establishing grounded principles of societal wisdom. "

What is science? How is it performed? Is science only a method or is it also an institution? These are questions at the core of Managing Science, a handbook on how scientific research is conducted and its results disseminated. Knowledge creation occurs through scientific research in universities, industrial laboratories, and government agencies. Any knowledge management system needs to promote effective research processes to foster innovation, and, ultimately, to channel that innovation into economic competitiveness and wealth. However, science is a complicated topic. It includes both methodological aspects and organizational aspects, which have traditionally been discussed in isolation from each other. In Managing Science, Frederick Betz presents a holistic approach to science, incorporating both philosophical and practical elements, in a framework that integrates scientific method, content, administration and application. Illustrating all of the key concepts with illustrative case studies (both historical and contemporary, and from a wide spectrum of fields), Betz provides in-depth discussion of the process of science. He addresses the social, organizational, institutional, and infrastructural context through which research projects are designed and their results applied, along the path from experimentation to innovation to commercialization of new products, services, and processes. This practical approach to science is the foundation of today's knowledge-intensive and technology-enabled industries, and positions the management of science within the broader context of knowledge management and its implications for organizations, industries, and regional and national technology management policies. Managing Science will be an essential resource for students in all areas of research, industry scientists and R&D specialists, policymakers and university administrators, and anyone concerned with the application of research to economic growth and development.

This is a reproduction of a book published before 1923. This book may have occasional imperfections such as missing or blurred pages, poor pictures, errant marks, etc. that were either part of the original artifact, or were introduced by the scanning process. We believe this work is culturally important, and despite the imperfections, have elected to bring it back into print as part of our continuing commitment to the preservation of printed works worldwide. We appreciate your understanding of the imperfections in the preservation process, and hope you enjoy this valuable book.

This scarce antiquarian book is included in our special Legacy Reprint Series. In the interest of creating a more extensive selection of rare historical book reprints, we have chosen to reproduce this title even though it may possibly have occasional imperfections such as missing and blurred pages, missing text, poor pictures, markings, dark backgrounds and other reproduction issues beyond our control. Because this work is culturally important, we have made it available as a part of our commitment to protecting, preserving and promoting the world's literature.

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This scarce antiquarian book is included in our special Legacy Reprint Series. In the interest of creating a more extensive selection of rare historical book reprints, we have chosen to reproduce this title even though it may possibly have occasional imperfections such as missing and blurred pages, missing text, poor pictures, markings, dark backgrounds and other reproduction issues beyond our control. Because this work is culturally important, we have made it available as a part of our commitment to protecting, preserving and promoting the world's literature.

This book is a facsimile reprint and may contain imperfections such as marks, notations, marginalia and flawed pages.