Roland T. Rust has been awarded the 2012 American Marketing Association/Irwin/McGraw-Hill distinguished Marketing Educator Award for his distinguished service and outstanding contribution in marketing education. Among his many contributions to the field is one near and dear to the SAGE family. Dr. Rust was the founding editor of the Journal of Service Research.
The University of South Florida’s 22nd Annual Social Marketing Conference: Ideas Beyond Borders, sponsored by USF Health, kicks off this summer with The Social Marketing Training Academy, a two-day workshop to be held June 13-14 at the Sheraton Sand Key Resort in Clearwater Beach, FL.
Social marketing has potential applications in a wide array of fields such as environmental studies, sustainability, transportation, financial literacy, education, not-for-profit management, labor relations, engineering, public health, and healthcare. All of these and others can benefit from social marketing’s consumer centered, strategic approach to influencing change.
This year’s theme – “Getting Better at Doing Good” – reflects the global reality that government institutions, not-for-profit groups, non-governmental organizations (NGOs), universities and colleges, and businesses are searching for better ways to improve people’s health, the environment, infrastructures, and social welfare.
The Social Marketing Training Academy will continue its 20-year tradition of training professionals and students new to social marketing and others who want to enhance their understanding of the basic social marketing model.
Upon completion of the Training Academy, participants should be able to:
Online registration for The Training Academy and the 22nd Annual Social Marketing Training Academy & Conference: Ideas Beyond Borders is now available! To register, please click here. To view detailed information and download a conference brochure, please follow this link.
Training Academy: June 13-14, 2012
Main Conference: June 15-16, 2012
Sheraton Sand Key Resort
Clearwater Beach, FL
Sponsored by USF Health
Brad Shuck and Ann Mogan Herd, both of the University of Louisville, published “Employee Engagement and Leadership: Exploring the Convergence of Two Frameworks and Implications for Leadership Development in HRD” on March 16, 2012 in Human Resource Development Review. To view other OnlineFirst articles, please click here.
The abstract:
As the use of workplace knowledge economies increases and emerging motivational-state variables such as employee engagement become more widely used, current frameworks of leadership are undergoing changes in perspective and practice. Moreover, while shifts in workplace dynamics have occurred in practice for some time, scholars are now calling for a new perspective of leadership. This article explores the connection between traditional and emerging leadership theories and the motivational-state variable of employee engagement, building toward a conceptual framework proposed for further refinement, discussion, and ultimately testing. A conceptual link between meeting and understanding employee needs, the use of emotional intelligence as a leadership competency, and transformational leadership is examined. Implications for leadership development in research and practice in an HRD context bring this article to a close.
To learn more about Human Resource Development Review, please follow this link.
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As the health care debate rages on, we bring you an article that provides a perspective on U.S. health care, consumer sovereignty and economic well-being. A. Coskun Samli of the University of North Florida published “The Medical Services Paradox in the U.S. Market System: The Desperate Need for Improvement” in the December 2010 issue of the Journal of Macromarketing. To see the contents of the current issue, please click here.
The abstract:
Macromarketers need to critically examine the provision of medical services in the United States. American health care is based on a competitive business model but in reality is an oligopoly defying consumer sovereignty. Medical expenditures are the highest of any major industrialized country, despite the fact that some 45 million Americans do not have health coverage. Insurance companies are very profitable and some physicians act like entrepreneurs more occupied with making money than in serving their patients. This system does not need to be improved a small piece at a time but should be totally revamped. Otherwise, the outlook for the future of the American health care is very bleak.
To learn more about the Journal of Macromarketing, please follow this link.
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Michael Chen of the Ontario Lottery & Gaming Corporation, Henry Tsai of The Hong Kong Polytechnic University, and Shiang-Lih Chen McCain of Widener University published “A Revenue Management Model for Casino Table Games” on February 28, 2012 in Cornell Hospitality Quarterly. To view other OnlineFirst articles, please click here. Dr. Tsai kindly provided the following responses to the article.
Who Is The Target Audience For This Article?
The target audience is casino managers, management consultants, operations analysts, casino management system developers, researcher / academia in casino management field.
What Inspired You To Be Interested In This Topic?
The application of yield management theory on hotel industry has been well researched. As a matter of fact, many hotel operators have put yield management theory into practice to improve profitability. On the other hand, very little research literature is available on how to apply yield management theory on table games operations.
Essentially, hotel operations and table game operations are very similar. Both sell rights to use the facility for a given period of time – hotel operators sell rights to use the hotel room whereas table game operators sell rights to occupy a table game seat. Both have a perishable inventory –the value of a hotel room for today is gone forever if it cannot be sold by today while the value of a table game seat for this hour is gone forever if it isn’t occupied by a table games player by this hour.
The difficulty of applying yield management theory on table game operations is the pricing, a critical component of the yield management theory. One subtle difference between hotel operations and table game operations is how they price their products. Most hotel clients, other than those who purchase through priceline.com, know the exact price before their purchasing decision. On the other hand, neither the table game operators nor the table game players know the exact price of playing table games before the consumption is over. It could be $5,000 an hour – the table game player lost $5,000 to the casino after one hour of play. It could also be $50 an hour. Sometimes it could even be a negative price – the table game player wins from the casino after one hour of play. Though casino operators don’t know for sure how much revenue they can get by selling table games seats for any given hour, casino operators do know, in the long run, the expected value of price for selling table games seats. The measurement used by casino operator to gauge the expected value of table game price is called theoretical win.
All three authors, two professors in hotel management field and one practitioner in the casino industry, have a thorough understanding of hotel yield management theory as well as table games pricing , thanks to the casino management courses they took when studying at UNLV. Knowing few researches have been done on this field, few table games operators have actually applied yield management on daily operations, and the potential profitability improvement yield management approach can bring to the casino industry, the authors decided to conduct a research on this topic to develop a pragmatic approach that can be easily adopted by table game operators.
Were There Findings That Were Surprising To You?
Yes and no. While we expected that, generally speaking, the application of our revenue management model would yield better results for table game operations, we thought that our approach might be less effective during the off-peak hours – measured by the percentage of incremental theoretical win (revenue). The results show otherwise. This approach is effective both during the peak hours and during the off-peak hours.
How Do You See This Study Influencing Future Research And/Or Practice?
One obstacle prevents casino operators from applying analytics to improve profit margin of table game operations is the table games data accuracy. Most data used in this study, such as average wager, spots (seats) occupied, was based on table games supervisors’ observations, which is subject to human errors. However, the advancement in technology, such as RFID-enabled casino chips, or sensors embedded in casino tables to track cards movement, may enable casino operators to capture all the required data electronically in a more reliable way. Just like slots analytics are widely applied to improve the profit margin of slots operations, once casino operators are assured that they are getting reliable table game data, they are more likely to apply table game analytics to improve the profit margin of table game operations. The results of this research may support practitioners to justify why adopting new table games technology is necessary for the casinos when writing capital budget business cases.
Once casino operators can acquire reliable table games data efficiently, we may see more casino operators apply revenue management on their table game operations. Some table games management system may even have a built-in revenue management module. On the other hand, as more researchers are interested in this topic, we may see future researches that focus on increasing forecasting accuracy to increase the revenue management effectiveness.
How Does This Study Fit Into Your Body Of Work/Line Of Research?
This study represents our first joint effort in looking into table game revenue enhancement, which could lead to future research in revenue management in other game types or in conjunction with hotel revenue management for casino hotels.
How Did Your Paper Change During The Review Process?
We appreciated the constructive comments given by the three reviewers, which helped us better the quality of our paper. We revised majority of the paper including introduction, literature review, results and discussions and the conclusion. Especially, we focused our literature review on the applications of revenue management in the casino industry. We also expanded the test period — from one hour to 24 consecutive hours – to test the effectiveness of the proposed yield management approach.
What, If Anything, Would You Do Differently If You Could Go Back And Do This Study Again?
While our proposed model could be applied to other table games, we could collect more data on more types of games and compare the results to further validate our model.
To learn more about Cornell Hospitality Quarterly, please follow this link.
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Kickstart your social marketing strategy this summer with the Social Marketing Field School’s Introduction to Social Marketing course!
Sponsored by USF Health, the Social Marketing Field School is a carefully crafted selection of courses offered in an intensive five-day format. It is organized specifically for motivated students and busy professionals to acquire skills in an intense, exciting and highly interactive format with some of social marketing’s leading professionals and instructors.
Upon completion of the Introduction to Social Marketing course, students will be able to:
The Introduction to Social Marketing course will be offered June 10 – 14, 2012 in Tampa, FL at the University of South Florida. Course may be taken for university credit. To register, visit http://www.cme.hsc.usf.edu and click on Course Calendar, then June 2012, and scroll down to “Introduction to Social Marketing.”
The course will be offered in the days preceding the 22nd Annual Social Marketing Training Academy & Conference: Ideas Beyond Borders. Online registration now available at www.cme.hsc.usf.edu!
Training Academy: June 13-14, 2012
Main Conference: June 15-16, 2012
Sheraton Sand Key Resort
Clearwater Beach, FL
Sponsored by USF Health
The Journal of Management Inquiry (JMI) is turning 20!
To celebrate the occasion, JMI released a special anniversary issue in December 2011, featuring a selection of reprinted articles that are meant to capture the journal’s identity. Representing a range of genres and topics from the world of scholarship, education, and practice, the articles are accompanied by commentaries from scholars who are connected with their respective themes or ideas.
Reflecting on the history and impact of JMI, Kimberly B. Boal and Christine Quinn Trank authored the introductory essay, “Journal of Management Inquiry at 20: Still Crazy After All These Years.” To access all articles in this special issue, please click here.
From the essay:
We think it makes sense to use this anniversary to make note of the love and forbearance required to get to 20 because JMI is hard. In the thicket of journals participating in the citation chase, JMI is resolutely different. We won’t pretend that citations aren’t just as important to us as they are to other journals, but there is something about JMI and the people who publish in it, edit it, review for it, and read it that tells us that these people who virtually populate JMI care deeply about the issues that are discussed in her pages, and willingly participate in the work and courage it takes to break frames. That’s why JMI is hard. Our authors often go out on a limb and take the editors with them (and sometimes authors aren’t far enough out on a limb, and the reviewers and editors must nudge them further).
To learn more about the Journal of Management Inquiry, please follow this link.
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Deepak Malhotra and Francesca Gino, both of Harvard University, published “The Pursuit of Power Corrupts: How Investing in Outside Options Motivates Opportunism in Relationships” on March 12, 2012 in Administrative Science Quarterly. To view other OnlineFirst articles, please click here.
The abstract:
Across three laboratory studies, this paper illustrates how a common strategic decision aimed at increasing one’s own power—investing in outside options—can lead to opportunistic behavior in exchange relationships. We show that the extent to which individuals have invested in creating outside options increases the likelihood that they will exploit their current exchange partners, even after controlling for the leverage provided by the outside options. Our results demonstrate that having previously sunk investments in an outside option leads to a heightened sense of entitlement, even when the outside option has been foregone. In turn, feelings of entitlement result in higher aspirations for what is to be gained in the current relationship, and these aspirations fuel opportunism. Finally, we show that other parties may fail to anticipate these effects, leaving them vulnerable to exploitation.
To learn more about Administrative Science Quarterly, please follow this link.
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After a week in which outgoing executive Greg Smith accused Goldman Sachs of losing its “moral fiber,” Apple’s factory conditions in China made news again, and the Ethisphere Institute released its 2012 list of the World’s Most Ethical Companies, the issue of corporate ethics is in the spotlight.
For today’s post, we’ve pulled together a diverse assortment of articles related to ethics and the corporation, including an analysis of global codes of ethics, an exercise in ethics education, and a study of executives’ ethical leadership.
We hope you find this selection insightful and thought-provoking.
Gene R. Laczniak, Marquette University, and Ann-Marie Kennedy, Auckland University of Technology
“Hyper Norms: Searching for a Global Code of Conduct”
Journal of Macromarketing (September 2011)
Susan D. Baker, Morgan State University, and Debra R. Comer, Hofstra University
Journal of Management Education (February 2012)
Jennifer Jordan, University of Groningen; Michael E. Brown, Penn State Erie, The Behrend College; Linda K. Treviño, The Pennsylvania State University; and Sydney Finkelstein, Dartmouth College
“Someone to Look Up To: Executive–Follower Ethical Reasoning and Perceptions of Ethical Leadership”
Journal of Management (March 15, 2011)
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Michael A. Hitt, Texas A&M University, and Charles R. Greer, Texas Christian University, published “The Value of Research and Its Evaluation in Business Schools: Killing the Goose That Laid the Golden Egg?” on March 18, 2012 inthe Journal of Management Inquiry. To view other OnlineFirst articles, please click here.
The abstract:
Critics have characterized academic research as being of little practical or commercial value. Such criticism of scholarly research, as opposed to applied research, resonates with detractors who do not appreciate the evolving role of business schools in providing foundational research. The authors contend that scholarly research helps develop knowledge in fields such as strategic management, enhances the value of later applied research, and provides content for courses. Not all research is of high quality, however, so the evaluation of research is critical. The authors examine several considerations for evaluation, such as journal rankings, interdisciplinary evaluation, and breadth of approach.
To learn more about the Journal of Management Inquiry, please follow this link.
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