The recent global financial crisis has indicated that the conventional dominant paradigm in finance is unable to cope with the problems of financial systems, markets, and behaviour of financial institutions, and failed to understand the proper role of finance in society and the economic system as a whole. Moving away from the conventional financial paradigm, this volume demonstrates paradigm shifting in the financial world and provides fresh insights on how we may reshape the financial reality to enable societal betterment and prevent any future financial crisis.
The financial crisis, triggered by the bankruptcy of Lehman Brothers in September 2008, resulted in a spectacular dip in industrial production in 2009 and into 2010. However, over the same period, retail sales remained fairly constant. In this paper, the authors argue that the shockwave throughout the industrial world was caused by the inventory policy adopted by manufacturing companies: due to the de-stocking and re-stocking practices, real demand was distorted along the value chain. The authors urge close monitoring of, and insight into, the real state of consumer demand to ensure the sustainability of the current economic recovery.
This 2010 edition of the Belgium’s Annual Report on United States Direct Investment in Belgium examines the structure and evolution of the activities of US-owned affiliates operating in Belgium. In addition, the report reviews major trends in the level of US direct investment in Belgium as well as in global direct investment flows. This report is a joint effort by the American Chamber of Commerce and Vlerick Leuven Gent Management School.
Not every company will survive the crisis. But most will. And the future success of these companies will be influenced by the decisions and actions taken during the crisis. Those who haven't prepared may survive the recession only to find themselves overtaken by their competitors as the economy gets back to normal. What you do during the crisis determines your position when it's over. Vlerick and the performance factory have prepared 34 lessons learnt from the crisis and provide you with 20 tips to prepare for recovery!
As the global economy recovers, most businesses are at last looking forward and planning for growth. But what lessons might have been learned from recession? In particular, while it’s easy to blame business failures solely on external factors generated by the economic downturn, are there aspects of the way certain companies were managed that might have accelerated their demise?
The recent crisis has been considered as the result of a systemic risk in the financial markets. The European Central Bank (ECB) has been targeted by the de Larosière Report to set up a special entity to track this type of risk and this focus on systemic risk is not unique. Regulatory authorities in USA and Canada are also asking themselves who should track this systemic risk. But what is systemic risk?
Six years of intensive research on the strategic positioning and current and future challenges of Business Process Management, led by Vlerick Leuven Gent Management School in collaboration with its business partner MÖBIUS and the member companies of the BPM Network led to some useful insights. Adopting a process orientation means putting a vision into practice by making and committing to deliberate choices for organising and executing work. In order for Business Process Management (BPM) to be able to help businesses looking for an new vision and new ways to manage an ever more complex business context, BPM needs to evolve from a mere methodology (being a stepwise, structured approach to improving business processes – often synonymous for making them more efficient) into a holistic management discipline that takes an integrated approach to the organisation and its business as a whole.
It is an accepted fact that business and IT are not always on the same wavelength. However, a recent study by Vlerick Leuven Gent Management School and Deloitte shows that, in some companies, the crisis is compelling IT and business leaders and their staffs to team up with each other more effectively.
On average the total cash remuneration of CEOs has dropped by one third. A growing number of companies are publishing their top salaries, but there is still room for improvement. The Bel 20 companies are already endeavouring to comply with the recommendation in respect of transparency of the top salaries, yet a third of the Bel Mid and up to half the Bel Small companies still have a long way to go. Furthermore, communication about the bonus systems and severance pay is open to improvement.”
CFOs today are particularly concerned about economic growth, consumer demand and access to financial resources. In large organisations, the cost of financing (11%) is also causing concern, while those in SMEs lie awake from the added worry about over-regulation (11%). The cost of, and access to, funding are especially a problem for companies with low liquidity, and it’s these companies in particular that are worried about over-regulation.