IESE
UNIVERSIDAD DE NAVARRA
Boletín Informativo
División Investigación
Enero-marzo 1998
Newsletter
Research Division
January-March 1998
Nº 92
EN ESTE NUMERO
IN THIS ISSUE
LIBROS
BOOKS
3
CONTRIBUCIONES EN LIBROS
CONTRIBUTIONS TO BOOKS
3-4
ARTICULOS
ARTICLES
4-7
WORKING PAPERS
7
CONFERENCIAS Y SEMINARIOS
CONFERENCES AND SEMINARS
7 - 10
VARIOS
OTHERS
10 - 11
ACTIVIDADES DOCENTES
TEACHING ACTIVITIES
11 - 12
CASOS - NOTAS TECNICAS
CASES - TECHNICAL NOTES
13 - 23
DOCUMENTOS INVESTIGACION
RESEARCH PAPERS
23 - 25
WORKING PAPERS
26
MATERIAL PEDAGOGICO
INCORPORADO DE OTRAS
INSTITUCIONES
TEACHING MATERIAL
INCORPORATED FROM OTHER
INSTITUTIONS
27
LA INVESTIGACION EN EL IESE
RESEARCH AT IESE
NEW PRIORITY LINES OF RESEARCH AT IESE - AN OVERVIEW
Recently, a series of research lines have been defined at IESE on
which the school plans to put explicit institutional emphasis in the
immediate future. The idea is to have a number of well defined
research lines to which interested faculty members can ascribe. These
lines of research, interdisciplinary in nature, should allow IESE to
become an international point of reference in a not too distant future.
The main goal is, therefore, to foster research at IESE as a way to
develop own knowledge and ideas beyond what has been traditional
at the school in the past. The school is convinced that this is one of
the actions that can be taken to improve its strength and enable it to
continue to be a leading institution in the international management
education arena.
The research lines have been chosen taking into account both IESEÕs
tradition of human development-based general management studies
and practitioner relevance. The potential and interests of faculty
groups already interested and working in related topics has also
been taken into account. However, individual faculty members are
free to devote their research efforts to whatever fields and areas they
like; for example, endowed chairs have been conducting research in
a variety of areas in the past and will continue to do so in the future.
Three of the chosen lines of research in which work has already
begun are: 1) Organizing for Cooperation, 2) The Firm as a Source of
Employment, and 3) IT-based Support for Organizational Structures
that foster Learning. We describe them briefly below.
The first one, Organizing for Cooperation, focuses on the study of
different forms of cooperation (intra- and inter-firm cooperation, for
example) that seem to be necessary to meet todayÕs competitive
challenges. There are several angles from which the topic can be
approached. They range from field studies in industries where interfirm cooperation seems to be a solution adopted and implemented
by an increasing number of players, to analyzing the kind of
capabilities that firms need to develop in order to be ÒcooperationeffectiveÓ. Other aspects of this research are the associated learning
necessary for cooperation to work, and how cooperative strategies
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Boletín Informativo – Newsletter
IESE, Universidad de Navarra
contrast with other alternatives based on well accepted economic models, such as transaction costs, which
could advocate almost the contrary. The results expected from work in this area include better models and
frameworks for understanding why cooperation is effective and under what circumstances, and how it
should be implemented from a contingent perspective. Joan E. Ricart is in charge of this line.
Under the leadership of Jordi Gual, the second line, The Firm as a Source of Employment, seeks to analyze
the employment (and, of special relevance in Europe, the unemployment) issue from a microeconomic
perspective, as opposed to the more common macroeconomic approach. Again, there are a number of
different standpoints from which the issue can be understood and analyzed. The final goal is to first better
understand the mechanisms of job creation at the firm level, and second, to suggest actions that can be taken
in order to foster job creation. Field studies aimed at analyzing the mechanics of job creation in firms are
already under way, centered on how decisions leading to job openings are made. A yearly international
Conference on Employment has been held the last three years at IESE and will continue to be held in the
years to come. The conference brings together well known authors and researchers from around the world,
who prepare specific communications for the occasion. The researchers then discuss their work with
participants in a two-day event that normally leads to the publication of a book centered on a specific
employment-related topic. This year Õs conference will be on the role of new technologies in the job creation
process (vis-ˆ-vis the well known argument of new technologies leading to an increase in unemployment).
The third, under the supervision of Rafael Andreu, is about IT-based Support for Organizational Structures
that foster Learning. It seeks first to understand what is meant by organizational learning, and then,
consequently, why certain organizational structures are more appropriate to foster learning and how they
can be harnessed with the aid of information and communication technologies. This line of research has
several points of contact with the first one, although its focus is much narrower. In the work already carried
out, a critique of the Òorganizational learningÓ concept has been developed and a proposal put through to
better define the term. The researchers believe that distinguishing individual learning from organizational
learning, thoroughly and with rigor, is not easy. One fundamental construct for understanding
the difference seems to be the process through which interactions among learning agents lead to the
development of shared mental models and collective preference structures, which afterwards guide group
and organization behaviour. An interaction-based model of organizational learning is being developed, the
goal being to provide a basis from which to derive the characteristics of organizational structures specially
well-suited to foster learning. Once these characteristics have been identified, the research will continue by
studying how they can be effectively implemented with the aid of new technologies. Complemented with
field studies, scenario analysis and controlled experiments, this line of research hopes to contribute not only
to a better understanding of organizational learning, but also with recommendations about how to harness
it in practice with the aid of specific organizational forms and IT-based support of different kinds.
Researchers active in these lines hope to have results soon that can be published as working papers and
presented at international conferences; two papers have in fact been accepted already.
Rafael Andreu
Director
Research Division
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LIBROS
BOOKS
CONTRIBUCIONES EN LIBROS
CONTRIBUTIONS TO BOOKS
Santiago Alvarez de Mon
Ð ÇLa empresa humanista y competitivaÈ, Ediciones
Deusto, marzo de 1998, 357 p‡gs.
Rafael Andreu - Claudio Ciborra
Ð ÇOrganizational Learning and Core Capabilities
Development: The Role of ITÈ, in the book
ÇInformation Technology and Organizational
TransformationÈ, edited by R. D. Galliers and W. R.
J. Baets, John Wiley & Sons, 1998, pages 87-106.
Resumen: El tipo de v’nculo econ—mico y
psicol—gico que une a los profesionales de hoy con
la empresa moderna es objeto de estudio y
reflexi—n. El modelo empresarial propuesto en el
libro Ðenraizado en la tradici—n occidental de
propiedad privada y libertad individual para
emprender iniciativasÐ, descansa sobre una
interpretaci—n generosa y radical del concepto de
participaci—n. Se sugiere no s—lo una participaci—n
de los colaboradores de la empresa en la toma de
decisiones, sino tambiŽn una participaci—n
econ—mica-financiera en los resultados que arroje
la gesti—n. Surge as’ la figura del empleado como
socio responsable y activo de la empresa que se
implica y compromete en la vida de la misma,
asumiendo sus riesgos e incertidumbres, y
disfrutando de sus derechos y beneficios. De ah’
que el autor opte por una visi—n comunitaria de la
empresa que, desde una gesti—n econ—mica eficaz y
competente, contribuya a una mayor plenitud
humana.
BIBLIOTECA IESE DE GESTION DE EMPRESAS
Volœmenes recientemente aparecidos:
50. La regeneraci—n de la empresa
Carlos CavallŽ: Las ra’ces culturales de la
estrategia
Pedro Nueno: Mejorando la capacidad
innovadora de la empresa
Esteban Masifern-Carmen C. Masifern: La
empresa como federaci—n
51. Indice
IESE, Universidad de Navarra
Boletín Informativo – Newsletter
Abstract: The resource-based view of the firm
(RBVF) focuses on the firmÕs resources and
capabilities to understand business strategy
and guide strategy formulation. This paper
emphasizes the learning aspects of capability
development and explores how information
technology (IT) can contribute to it.
As a widely available, standardized resource, IT can
participate
in
the
fundamental
process
that transforms resources into capabilities
and eventually into core capabilities. In this way, IT
Ðembedded in core capabilitiesÐ can become an
active component of the firmÕs competitive
advantages.
The process by which resources end up being
components of core capabilities in firms is a
learning process that can be described and
understood using RBVF concepts. Furthermore, the
development of strategic IT applications (also
called Òstrategic information systemsÓ, or SIS)
follows patterns that closely parallel the structure
of that learning process. For this reason, we
propose an organizational learning model based on
the RBVF, and use it to derive guidelines for
management action aimed at improving IT
effectiveness in organizations.
The paper is organized as follows: first, there is a
summary of the RBVF framework, including the
concepts of capabilities and core capabilities and
the organizational processes that lead to them.
Next, the paper presents an organizational learning
model: an interpretation of capability development
that emphasizes situated learning and knowledge
accumulation. This model is then used to show
how IT can contribute to core capability formation
in a firm: management action can mold the process
to some extent, although it often unfolds
ÒnaturallyÓ, embedded in an organizational
context that both determines and is determined by
learning. Finally, there is a discussion of guidelines
for devising and building strategic IT applications,
based on the previous analysis.
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Antonio Argando–a
Ð ÇEl papel de los Òtecn—cratasÓ en la pol’tica y en la
econom’a espa–ola, 1957-1964È, en el libro ÇIglesia y
poder pœblico. Actas del VII Simposio de Historia
de la Iglesia en Espa–a y AmŽricaÈ, coordinado por
Paulino Casta–eda y Manuel J. Coci–a y Abella,
Publicaciones Obra Social y Cultural Cajasur, C—rdoba,
1997, p‡gs. 221 a 235.
Resumen: Hasta los a–os cincuenta de nuestro siglo,
Espa–a fue una sociedad atrasada. Mientras los
principales pa’ses europeos hab’an llevado ya a
cabo un largo proceso de modernizaci—n social y
econ—mica, y otros lo estaban completando
entonces, nuestro pa’s se hab’a retrasado en esa
evoluci—n, debido a circunstancias hist—ricas,
pol’ticas e ideol—gicas. Sin embargo, en los a–os
cincuenta se inici— un cambio en la manera de hacer
pol’tica econ—mica, en el modelo mismo de
econom’a, y en el equilibrio de las fuerzas sociales y
pol’ticas, que llev— en las dŽcadas siguientes a una
sociedad moderna, pluralista y desarrollada. No
cabe duda, pues, de que ese per’odo encierra claves
importantes de la historia espa–ola reciente. Y,
dentro de Žl, merecen especial menci—n los
Çtecn—cratasÈ, como supuestos art’fices de al menos
una parte de ese cambio.
El objeto de este art’culo es explicar algunos
aspectos aœn poco conocidos de la tarea de esos
tecn—cratas. El an‡lisis se centra en los a–os 1957 a
1964, pues, a partir de esta fecha, Espa–a entra en la
era de los Planes de Desarrollo, y en ella tanto el
modelo como la forma de llevar a cabo la pol’tica
econ—mica experimentan cambios importantes.
Ð ÇEspa–a en la moneda œnica: las ventajas de la
estabilidad y los problemas del crecimientoÈ, en el
libro ÇDe la estabilidad al crecimiento estableÈ,
C’rculo de Empresarios, Madrid, diciembre de 1997,
p‡gs. 15-33.
Resumen: En este art’culo se pasa revista a los
argumentos en favor de la moneda œnica,
especialmente los referentes al cumplimiento de las
condiciones del Tratado de Maastricht. Se subrayan
los inconvenientes que en el pasado han tenido las
pol’ticas excesivamente inflacionistas, y se se–alan
las ventajas de la Çcultura de la estabilidadÈ.
Asimismo, se pone de manifiesto que la estabilidad
no es suficiente para crecer, por lo que har‡ falta una
estrategia separada para conseguir ritmos m‡s
elevados de actividad y de generaci—n de empleo.
4
Jordi Canals
Ð ÇCrecimiento sostenible y desarrollo empresarialÈ, en el libro ÇDe la estabilidad al crecimiento
estableÈ, C’rculo de Empresarios, Madrid, diciembre
de 1997, p‡gs. 91-115.
Resumen: El crecimiento econ—mico de un pa’s
depende de numerosos factores de naturaleza muy
diversa. Sin embargo, en la base del crecimiento de
los pa’ses se halla el crecimiento de las empresas. El
proceso de crecimiento de las empresas depende de
diversos elementos, como las capacidades y
recursos desarrollados con el paso del tiempo, las
oportunidades externas disponibles o ciertas
decisiones estratŽgicas que en cierto momento las
empresas han adoptado. En este cap’tulo se
discuten algunos de estos elementos, cr’ticos para el
crecimiento de los pa’ses.
Luis M» Huete - Mark Schofield
Ð ÇNH HotelsÈ, (P-772-E), in the book ÇCases in
Hospitality Strategy and PolicyÈ, edited by Robert
C. Lewis, John Wiley & Sons, 1998, pages 43-60.
Abstract: At the end of 1990, after 12 years of
spectacular growth, NH is analysing its expansion
policy and trying to outline the positioning of two
projects: the super-luxury ÇNH GoldÈ hotels and
the two-star ÇMinihotelsÈ. The management
committee is considering the strategy to be adopted
to ensure the companyÕs future success at a time of
great expansion in its traditional business.
ARTICULOS
ARTICLES
Journals
Santiago Alvarez de Mon
Ð ÇLa empresa del siglo XXI: ÀDarwinismo
corporativo o comunidad de personas?È, HarvardDeusto Business Review, nº 83, marzo-abril de 1997,
p‡gs. 18-27.
Resumen: En un momento en que el reto
competitivo lleva a buscar la m‡xima eficacia de la
empresa y a potenciar el intelecto de las personas
como el capital m‡s preciado, merece tambiŽn
la pena echar un vistazo a la parte humana de la
organizaci—n. Una parte humana que debe
contribuir a dar sentido a la vida del individuo y
que s—lo se puede conseguir a travŽs del indudable
compromiso social que la empresa est‡ llamada a
cumplir. Para analizar esta necesaria evoluci—n, el
autor hace un repaso del entorno social, pol’tico y
cultural en el que se desenvuelve la empresa.
Antonio D‡vila - Robert Simons
Ð ÇHow high is your return on managementÈ,
Harvard Business Review, January-February, 1998,
pages 70-80.
Abstract: The classic business ratios for
measuring performance Ðreturn on equity, return
on assets, and return on sales, to name a fewÐ may
be useful. But none is designed specifically to
reflect how well a company implements its
strategy. Enter return on management (ROM),
a new ratio that gauges the payback from a
companyÕs scarcest resource: managersÕ time and
energy. Unlike other business ratios, ROM is a
rough estimate, not an exact percentage. Still, it is
expressed like other business ratios by an equation
in which the output is maximized by a high
numerator and a low denominator:
Productive organizational energy released Ö
Management time and attention invested.
Knowing which organizational factors conspire
against or work to maximize an organizationÕs
productive energy will help managers calculate a
rough measure for this equation.
The authors suggest that companies look at five
factors Ðreferred to as the Òfive acid testsÓÐ to
approximate this measure: Do employees know
which opportunities do not directly contribute to
the companyÕs strategic mission? Do managers
know what it would take for the company to fail?
Can managers recall their key diagnostic measures
with relative ease? Is the organization free from
drowning in a sea of paperwork and processes? Do
all employees watch the same performance
measures that their bosses watch? If a manager can
answer yes to these questions, ROM is probably
high. If the answer is no to some, ROM may be low,
signaling that managers may need to step up their
communication with employees about what they
should and should not be focusing their efforts on.
The Journal of Business Ethics announces a special
issue dedicated to ÇBusiness Ethics in SpainÈ.
Antonio Argando–a will act as guest editor of this
special edition.
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Boletín Informativo – Newsletter
Otras publicaciones / Other publications
Antonio Argando–a
Ð ÇLa responsabilidad de la empresa en la creaci—n
y mantenimiento del empleoÈ, Servicio de
Documentaci—n, Instituto Empresa y Humanismo,
Universidad de Navarra, nº 40, noviembre de 1997,
p‡gs. 9-20.
Resumen: La empresa es la principal instituci—n
creadora de empleo, tanto en las sociedades
industrializadas como en las que est‡n en v’as
de desarrollo. ÀSupone esto que la creaci—n de
ocupaci—n forma parte de la responsabilidad social
de la empresa?
En este art’culo se analiza esta cuesti—n, primero en
el ‡mbito del fin de la empresa como instituci—n, y
despuŽs en el de su responsabilidad social,
entendida como parte de su contribuci—n al bien
comœn. Finalmente, se discuten algunos problemas
presentados al intentar hacer operativo ese
objetivo.
Miguel A. Gallo
Ð ÇLos consejos de administraci—n en las empresas
familiares. Presencia, actividad y utilidadÈ,
Iniciativa Emprendedora y Empresa Familiar, nº 9,
marzo-abril de 1998, p‡gs. 12-15.
Resumen: Se observa en los œltimos a–os una
creciente preocupaci—n por la mejora de la
actuaci—n de los consejos de administraci—n en las
empresas familiares. Ser’a err—neo pensar que este
interŽs se produce exclusivamente como una
reacci—n natural al hecho de que durante a–os los
consejos de administraci—n de las empresas
familiares han sido muy poco activos, algo que por
otra parte ha ocurrido tambiŽn en las empresas no
familiares. Este art’culo examina las verdaderas
causas de esta preocupaci—n y arguye que varias de
ellas tienen un origen positivo.
W . Gibb Dyer, Jr.
Ð ÇConflictos en la empresa familiar. C—mo
abordarlos y gestionarlosÈ, Iniciativa Emprendedora
y Empresa Familiar, nº 8, enero-febrero de 1998,
p‡gs. 15-21.
Resumen: Las familias pueden quedar atrapadas,
sin v’as de salida para resolver los conflictos que
enfrentan en el seno de sus empresas, si no cuentan
con las capacidades necesarias de resoluci—n de
problemas y de relaci—n interpersonal. Las
empresas familiares no deber’an procurar eliminar
el conflicto Ðpuesto que es imposibleÐ, sino
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procurar crear una atm—sfera positiva en la que los
conflictos puedan ser gestionados de una manera
eficaz. En este art’culo, el autor argumenta que lo
importante no es tanto quŽ decide hacer una
familia para resolver un conflicto, sino c—mo
aborda su gesti—n.
capacidad de manejarse en 360¼, la paciencia de la
ara–a y la sabidur’a humilde del fil—sofo. Tercera
fase: La fase del canguro. Cuarta fase: La fase del
bœho. Apoyado en la sabidur’a alcanzada por su
larga experiencia, la œltima tarea del directivo ser‡
velar por el conjunto de la organizaci—n.
JosŽ L. Nueno
Ð ÇLos nuevos negocios de la distribuci—n.
Tendencias y estrategiasÈ, Iniciativa Emprendedora
y Empresa Familiar, nº 8, enero-febrero de 1998,
p‡gs. 46-56.
Javier Santom‡ - Altina Sebasti‡n Gonz‡lez
Ð ÇDuraci—n, beta y volatilidad de una acci—nÈ,
Bolsa de Madrid, nº 62, p‡gs. 50-52. Enero de 1998.
Resumen: Los negocios de distribuci—n est‡n
entrando en una nueva era. Las caracter’sticas de
los consumidores actuales imponen cambios y
ofrecen oportunidades a la distribuci—n. Los
mercados son m‡s din‡micos que nunca, y en poco
tiempo el panorama puede variar sustancialmente.
La evoluci—n de las grandes empresas se halla
sometida a una serie de tendencias que est‡n
forzando un replanteamiento de sus pol’ticas
comerciales actuales.
JosŽ R. Pin
Ð ÇSin miedo al cambioÈ, Nueva Empresa, nº 427,
enero de 1998, p‡gs. 32-34.
Resumen: En un estudio sobre la gesti—n
empresarial en esta dŽcada, se observan las l’neas
generales de direcci—n de las compa–’as, hacia
d—nde quieren dirigir sus pasos, cu‡l es su visi—n
de futuro. En definitiva, cu‡l es el camino que han
emprendido los directivos para gobernar las
empresas en los pr—ximos a–os.
Ð ÇSector pœblico-sector privado: Consejos para el
mutuo provechoÈ, Capital Humano, nº 108, febrero
de 1998, p‡g. 7.
Resumen: Aunque en ocasiones parezca lo
contrario, las empresas de los sectores pœblico y
privado est‡n condenadas a entenderse para
sobrevivir y mejorar sus posiciones de mercado.
Ambos sectores, pœblico y privado, est‡n obligados
a ayudarse para mejorar mutuamente. El autor
ofrece 10 consejos para el mutuo provecho.
Ð ÇFases en la carrera profesional del MBAÈ, Nueva
Empresa, nº 428, febrero de 1998, p‡gs. 77-82.
Resumen: Primera fase: Los retos humanos de un
MBA en su primer trabajo, vista de ‡guila, astucia
de zorro y habilidad para buscar ayuda. Segunda
fase: El primer trabajo directivo requiere: la
6
Resumen: El objeto de este art’culo es relacionar
o comparar tres medidas b‡sicas de riesgo
(duraci—n, beta y volatilidad) y estudiar
emp’ricamente el comportamiento de las mismas
con respecto a las rentabilidades obtenidas para
una muestra de 37 acciones de la Bolsa de Madrid
en el per’odo 1992-1994. Las conclusiones que
obtenemos ayudan a determinar cu‡l de los tres
tipos de indicadores de riesgo es capaz de explicar
mejor el comportamiento de los precios de los
activos en ese per’odo.
Josep Tˆpies - Lidia Pradas
Ð ÇCrecimiento y tensiones financieras. Ense–anza
para una empresa de nueva creaci—nÈ, Iniciativa
Emprendedora y Empresa Familiar, nº 9, marzo-abril
de 1998, p‡gs. 4-11.
Resumen: El crecimiento suele ir acompa–ado de
importantes tensiones financieras. Puede ocurrir
que, a pesar de estar generando m‡s beneficios, se
ponga en peligro el futuro de la propia empresa
desde un punto de vista estrictamente financiero.
Este art’culo proporciona algunos conceptos
b‡sicos de finanzas que permiten dar una
explicaci—n de las causas y la naturaleza
de los problemas derivados de una estrategia
de crecimiento acelerado, y ofrece algunas
recomendaciones para su tratamiento.
Reports
Dom•nec MelŽ - Joan Fontrodona
Ð ÇIndividual and corporate responsibilities in the
social teaching of the ChurchÈ, published in
the collection of papers presented at the Second
International Symposium on Catholic Social Thought
and Management, (web: http://Byte.stthomas.edu/
cathstudies/cstm/antwerp/index.html).
Abstract: Some authors hold that a company is a
moral agent. Many others oppose this view,
arguing that only human beings can be subjects
of morality, whereas corporations have no
responsibilities at all.
According to the social teaching of the Catholic
Church, the subject of responsibility is the
individual, because only he or she is endowed with
freedom and moral conscience. Nevertheless, a
corporation Ðlike other kinds of societyÐ is not
merely a group of individuals with a social
contract, but a community with stable links. This
Òsocial subjectivityÓ, which is a source of moral
responsibility, has been destroyed by real socialism
and radical individualism.
The teaching of the Church is far removed from
both of these positions. The Christian concept of
the person as an individual and social being is very
close to our own observation of reality. This
concept leads us to state clearly that real
responsibility lies with the individual, but that, in a
different sense, there are also corporate
responsibilities. These corporate responsibilities
have been assumed by managers.
The teaching of the Church shows a good way to
develop a set of principles for corporate social
responsibilities. At the same time, they emphasize
that managers and employees are the only proper
subjects of responsibility in business.
WORKING PAPERS
Africa Ari–o - JosŽ de la Torre (The Anderson
School at UCLA)
Ð ÇAction and reaction: Towards an evolutionary
model of collaborative venturesÈ, The John E.
Anderson Graduate School of Management at
UCLA, No 97-8.
Abstract: This paper contributes to building
theory on the collaboration process in partnerships
and alliances by reporting on a longitudinal case
study of the interactions between two partners to
a failed international joint venture. We develop a
model based on earlier work by Ring and Van de
Ven (1994) and Doz (1996). We use events in the
relationship as the unit of analysis in order to trace
the interactions between the partners, and to
explicate the impact that external shocks have on
perceptions of efficiency and equity by both
partners. These assessments cause the partners to
either engage in renegotiation of the terms of the
contract or modify their behaviour unilaterally in
an attempt to restore balance to the relationship.
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Boletín Informativo – Newsletter
The process feeds back until a new mutual
understanding of equity is restored, or else the
relationship deteriorates until the CV is dissolved.
The impact of these patterns on the quality of the
relationship is also considered.
CONFERENCIAS Y SEMINARIOS
CONFERENCES AND SEMINARS
JosŽ L. Alvarez
Ð On March 26-28, attended the conference ÇCareer
RealitiesÈ that took place at the London Business
School, where he presented the paper ÇTheories of
Managerial Action and their Impact on the
Conceptualization of Managerial CareersÈ.
Abstract: The author discusses the traditional
hiatus between Organizational Theory and
conceptualizations of executive careers, and how
new theories of managerial action, being
developed by neo-institutionalists, could help
bridge the gap.
The papers presented at the conference will soon be
published in a volume to be edited by Maury
Peiper of the London Business School.
Antonio Argando–a
Ð On January 30, attended the seminar ÇConceiving
Ethics in BusinessÈ at the University of Tilburg,
where he gave the paper ÇEthical Perspectives on
FinanceÈ.
Ð El 3 de febrero, asisti— al Seminario Knut Wicksell,
de la Universitat Internacional de Catalunya,
donde imparti— la conferencia ÇÀPuede durar la
actual bonanza de la econom’a espa–ola?È.
Ð El 7 de febrero, asisti— al Seminario Permanente
Periodismo y Comunicaci—n, en Santiago de
Compostela, donde imparti— la conferencia
ÇEspa–a y la Uni—n Econ—mica y Monetaria: La
hora de la verdadÈ.
Ð El 14 febrero, asisti— a las IV Jornades Socioculturals,
en Barcelona, donde imparti— la conferencia
ÇEconomia i societatÈ.
Ð El 24 de febrero, asisti— al Simposio Internacional
sobre ÇLa crisis asi‡tica y la reforma del Sistema
MonetarioÈ, organizado por la Fundaci—n
Di‡logos, en Madrid, donde imparti— la
conferencia ÇLas causas de la crisis asi‡ticaÈ.
7
IESE, Universidad de Navarra
Boletín Informativo – Newsletter
M» Nuria Chinchilla
Ð El 11 de marzo, cerr— el FORHUM Ô98 organizado
por IIR Espa–a (Institute for International
Research), donde imparti— la conferencia ÇÀPor quŽ
se va un ejecutivo? Cu‡les son sus v’nculos de
pertenencia: Compromiso versus rotaci—nÈ.
Ð El 26 de marzo, asisti— al Forum Anual KONSAC
sobre ÇDirecci—n de PersonalÈ, en Barcelona, donde
imparti— la conferencia ÇHacia una empresa
humanistaÈ, y moder— un debate sobre ÇEl nuevo
rol de la direcci—n de personalÈ.
Jordi Gual
Ð El 5 de marzo, asisti— a la Jornada sobre ÇLas
implicaciones de la implantaci—n del euro
en CatalunyaÈ, organizadas por la Generalitat de
Catalunya, donde imparti— la conferencia
ÇConsequ•ncies econ˜miques de la introducci— del
euroÈ.
Eduardo Mart’nez Abascal
Ð El 28 de enero, asisti— al seminario ÇOfertas
pœblicas de valores: Estrategias de una oferta
globalÈ, organizado por la Bolsa de Madrid, donde
imparti— la conferencia ÇExperiencias pr‡cticas de
ofertas pœblicas de valores (OPV): El caso RepsolÈ.
Pedro Nueno
Ð El 30 de enero, asisti— a las Jornadas Confederales
de UGT, ÇDerecho al trabajo. Un compromiso con
el pleno empleoÈ, donde imparti— la conferencia
ÇLa reducci—n de la jornada de trabajoÈ.
Resumen: En la creaci—n de trabajo por parte de
las empresas hay dos categor’as de enfoques, que
podr’amos llamar sanos (crecimiento interno,
generalmente resultado de la innovaci—n y la
productividad, exportaci—n, inversi—n directa en el
extranjero) y enfermiza (reducci—n de la jornada,
afloraci—n de la econom’a sumergida, eliminaci—n
de otros tipos de fraudes laborales, control de la
inmigraci—n, subvenci—n). La evoluci—n hist—rica
muestra que una reducci—n gradual de la jornada
de trabajo es compatible con una mejora de la
competitividad, pero eso no puede hacerse ni
bruscamente, ni con car‡cter general, ni por
decreto.
JosŽ R. Pin
Ð El 19 de febrero, asisti— al Encuentro organizado
por Azulgest, en Castell—n, donde present—
8
la ponencia ÇLa formaci—n y los recursos humanos
en la empresa y su relaci—n con las ETT: la funci—n
de las ETT en la econom’a del siglo XXIÈ.
Resumen: En la ponencia se expone la funci—n de
formaci—n de competencias de una ETT en un
ÇclusterÈ como puede ser el sector de la cer‡mica
de Castell—n, su papel en la colaboraci—n a la
competitividad de las empresas que lo componen y
los aspectos a tener en cuenta en la homologaci—n
de las ETT por parte de las empresas usuarias: las
referentes a la seguridad en el tr‡fico y la
adecuaci—n de la cultura de la ETT con la empresa
usuaria.
M» Julia Prats - Jaume Ribera
Ð On March 29, attended the Production and
Operations Management Society congress in Santa
Fe, New Mexico, where they gave the paper
ÇCapacity Decisions in service design: The
perceived quality dimensionÈ.
Abstract: Capacity considerations are an
important issue in the design of service operations.
Traditional synthetic capacity calculations used in
manufacturing settings are based on resource
utilizations by unit of output. Direct translation of
this approach to service operations faces two
important problems: a) both the product definitions
and the input required on the part of the server are
somewhat fuzzy and subject to marginal
adjustments without substantially altering the
output, and b) customer interpretations of capacity
utilization can have an important effect on the
perceived service quality.
The paper reports the preliminary results of an
ongoing research project which reviews the
procedures used for capacity management and
those used to measure customer perceived quality
in different service companies, and the extent to
which they are interrelated. Surprisingly, in the
limited number of firms researched, little evidence
has been found of a relationship at the managerial
level between the two concepts.
M» Julia Prats - Juan Roure - Joseph Pistrui
Ð On March 20, at the II Annual Meeting of the EU500
Association, the association for dynamic
entrepreneurs, held in Munich, they gave the paper
ÇA Formula for Successful Growth: preliminary
lessons from the EuropeÕs 500 Research ProjectÈ.
Abstract: Our first objective in organizing this
major Research Project was to broaden our
understanding of the key factors contributing to
the successful growth of the 500 fastest growing
entrepreneurial firms in Europe. However, our
most important objective is to identify the major
opportunities and challenges that EuropeÕs most
dynamic entrepreneurial organisations will face as
they prepare for the New Millennium.
This
preliminary
report
includes
some
characteristics of the companies and their
strategies, as well as a profile of the entrepreneurs
who make it all possible.
Joaquim Vilˆ
Ð On January 21-23, attended the Second World
Conference on Management of Intellectual Capital
and Innovation, held in Hamilton, Ontario,
Canada, where he presented the paper ÇTowards
the Business Federation: Organizing for Growth in
Management Consulting FirmsÈ, co-authored by
Carsten M. Syvertsen.
Abstract: The paper builds on the operational
approach to the Business Federation form
advanced by Esteban Masifern. It describes how
this form responds to management demands for
novel organizational solutions and describes its
building blocks (on the basis of rules which set the
level of autonomy for businesses, the availability of
boosting units, the type of control over the
businesses, and the issue of ownership of assets
between business and corporate units). It then
briefly reviews the suitability of this form for
professional service firms. Empirically, it explores
the extent to which management consulting firms
in Europe are implementing key features of this
federation form. And finally, we test whether
this has any effect on organizational growth, as a
key indicator of performance, in consulting
companies in Norway and Spain.
On January 29-30, the Bank Benchmarking Group
of the EFQM met at IESE in Barcelona. Juan Roure
acted as academic coordinator, and Josep Valor
gave a presentation on ÇThe Future of Electronic
MarketsÈ. The theme for discussion was the role of
Call Centers in improving customer service. The
meeting was attended by representatives of the
following organizations: ABN-AMRO, Barclays
Bank, Unibank, ING, Royal Bank of Scotland,
Banco Santander, BT Europe, EFQM (European
Foundation for Quality Management) and Gas
Natural. A visit was made to this latter company to
learn about its telephonic customer service.
IESE, Universidad de Navarra
Boletín Informativo – Newsletter
El 26 de febrero tuvo lugar, en la sede del IESE en
Madrid, el V Simposio Anual de Finanzas del CIIF,
que reuni— cerca de doscientos cincuenta directivos
relacionados con el mundo de las finanzas. El
Simposio estuvo presidido por Rafael Termes y
Natalia Centenera.
En este simposio se presentaron los siguientes
proyectos de investigaci—n:
Javier Estrada
Ð ÇRiesgo en mercados europeos. ÀC—mo medirlo
adecuadamente?È
Resumen: La presentaci—n sobre riesgo en
mercados europeos se dividi—, al igual que la l’nea
de investigaci—n, en dos temas principales:
Primero, se abord— el tema de c—mo medir el riesgo
apropiadamente; segundo, se contrast— el riesgo de
corto plazo con el de largo plazo.
En cuanto al primer punto, se caracteriz— el
comportamiento de los mercados europeos
durante la primer mitad de la dŽcada, y se explic—
por quŽ algunas medidas muy utilizadas para
evaluar riesgo pueden llevar a cometer errores
significativos. La cuantificaci—n respectiva se hizo
para 13 mercados europeos.
En cuanto al segundo punto, se contrast—
b‡sicamente el riesgo de corto plazo con el riesgo
de largo plazo, y se argument— que el inversor de
largo plazo claramente debe optar por renta
variable y no por la renta fija. Se analizaron
simulaciones con par‡metros plausibles para el
caso espa–ol, y se cuantific— la ganancia relativa
que obtendr’a el inversor de largo plazo de renta
variable.
Pablo Fern‡ndez
Ð ÇÀExiste la prima de riesgo del mercado?È
Resumen: Una de las hip—tesis en que se
fundamenta el CAPM es la de expectativas
homogŽneas: todos los inversores tienen las
mismas expectativas de rentabilidad y riesgo para
todos los activos. En ese caso, todos los inversores
tendr’an carteras compuestas por deuda sin riesgo
y una cartera de acciones con la misma
composici—n porcentual que el mercado (la bolsa).
N—tese que todos los inversores tendr’an una
cartera con todas las acciones de la bolsa idŽntica
en composici—n porcentual. Pero es obvio que los
inversores no tienen las mismas expectativas, que
no todos los inversores tienen carteras de acciones
de composici—n idŽntica y que no todos los
inversores tienen una cartera compuesta por
9
IESE, Universidad de Navarra
Boletín Informativo – Newsletter
todas las acciones del mercado. Podemos conocer
la prima de mercado de un inversor,
pregunt‡ndosela, aunque muchas veces la prima
de mercado no es un par‡metro expl’cito para
muchos inversores, sino impl’cito, que se
manifiesta en el precio que est‡ dispuesto a pagar
por las acciones. Pero es imposible determinar la
prima para el mercado en su conjunto, porque no
existe. Aunque supiŽsemos las primas de mercado
de los distintos inversores que concurren en el
mercado, no tiene ningœn sentido hablar de una
prima del mercado en su conjunto. Esto tiene su
fundamento en los teoremas de la agregaci—n de
microeconom’a, que en realidad son teoremas de
no agregaci—n. Un modelo que funciona bien
individualmente para varias personas, puede no
funcionar para todas las personas juntas. Para el
CAPM, esto se traduce en que aunque Žste sea un
modelo v‡lido para cada inversor, no es v‡lido
para el mercado en su conjunto, porque los
inversores no tienen las mismas expectativas de
rentabilidad y riesgo para todas las acciones. Los
precios son la actualizaci—n de flujos esperados
descontados a una tasa que incluye la prima de
riesgo. Distintos inversores tienen distintas
expectativas de flujos y distintas expectativas del
riesgo futuro. S—lo se podr’a hablar de una prima
de mercado si todos los inversores tuvieran las
mismas expectativas de flujos.
JosŽ Luis Su‡rez - Ahmad Rahnema
Ð ÇDesarrollo de los mercados financieros y
pr‡ctica de la direcci—n financiera en IberoamŽrica,
Portugal y Espa–aÈ
Resumen: La investigaci—n consiste en un estudio
comparado que, como su nombre indica, tiene dos
partes: a) an‡lisis del desarrollo de los
mercados financieros en los principales pa’ses
iberoamericanos, Espa–a y Portugal. Tipos
de instituciones e instrumentos, contrataci—n,
regulaci—n. El an‡lisis tendr‡ en cuenta el entorno
peculiar de cada pa’s; b) principales caracter’sticas
de la pr‡ctica de la direcci—n financiera. En
particular: metodolog’a de trabajo, sofisticaci—n de
ejecuci—n de las pol’ticas, relaci—n con los mercados
financieros nacionales e internacionales, etc.
10
VARIOS
OTHERS
Rafael Andreu - Claudio Ciborra
Ð The article ÇOrganizational Learning and Core
Capabilities Development: The Role of ITÈ,
reviewed on page 3, has been awarded the Òhighest
quality ratingÓ by Anbar Electronic Intelligence, a
service that selects articles according to four criteria
(Quality of Research, Practical Implications,
Originality, and Readability) and publishes them
on the Internet.
ANBAR has also chosen the article ÇProcess
Innovation: Changing Boxes or Revolutionizing
Organizations?È, published by Rafael Andreu,
Joan E. Ricart and Josep Valor in 1997, to be
included in its selection.
Antonio Argando–a
Ð El 28 de febrero, asisti— a la IV Trobada dÕEconomia
en SÕAgar—, donde particip— en una mesa redonda
sobre ÇUni— Econ˜mica i Monetˆria en el marc de
la globalitzaci—È.
M» Nuria Chinchilla
Ð On March 20, took part in a debate organized by
Arco Creade, in Barcelona, with the motto
ÇEuropean Careers Partners Barcelona Ô98È, in
which participants discussed the subject of
ÇExecutive Careers in 2010È.
Jordi Gual
Ð Ha sido nombrado miembro del International
Advisory Board del CREI (Centre de Recerca en
Economia Internacional) de la Universitat Pompeu
Fabra.
JosŽ R. Pin
Ð El 14 de enero, intervino en la conferencia ÇLa
violencia en la sociedadÈ, que tuvo lugar en el
Colegio Mayor Roncalli, en Madrid, promovida
por la uni—n de Colegios Mayores.
Joan E. Ricart
Ð Los d’as 19 y 20 de febrero, asisti— al seminario
sobre ÇInvestigaci—n en direcci—n de empresasÈ
organizado por el departamento de econom’a
de empresa de la Universidad Carlos III de Madrid,
donde actu— como comentarista de trabajos de
doctorales que, o bien han terminado o est‡n
cercanos a terminar. La sesi—n en la que particip— se
titulaba ÇDirecci—n estratŽgica y pol’tica de
recursos humanosÈ.
Ð On March 16-17, gave a doctoral seminar on
ÇOrganizational EconomicsÈ at the University of
Catania, Sicily, Italy.
Juan Roure
Ð El 5 de febrero, particip— en la Sesi—n de Clausura
de CICALÕ98, donde present— un resumen de las
ponencias m‡s significativas y una reflexi—n sobre
el ÇFuturo de la Calidad de Gesti—nÈ.
ACTIVIDADES DOCENTES
TEACHING ACTIVITIES
Programa de Continuidad
Encuentros Interdisciplinares
Ð ÇLa democracia y las instituciones sociales: los
retos del futuroÈ, moderador: Rafael Termes;
ponentes: Jean Bethke Elshtain (professor, University
of Chicago) y Antonio Font‡n (ex-presidente
del Senado, profesor emŽrito, Universidad
Complutense), 2 de febrero, Madrid.
Programa de Continuidad
Reuniones extraordinarias
Ð ÇManteniendo la propia paridadÈ, ponente:
Pedro Nueno, 23 de febrero, Barcelona.
Ð ÇÀC—mo nos afecta la crisis asi‡tica?È, ponente:
Juan J. Toribio, 24 de marzo, Barcelona.
Ð ÇLa gesti—n de los recursos humanos en una
empresa multinacionalÈ, ponente: JosŽ Daniel
(presidente de NestlŽ Espa–a), coordinador: Carlos
S‡nchez-Runde, 26 de marzo, Barcelona.
Programa de Continuidad
Ð ÇLa gesti—n del tiempo personal y profesionalÈ,
ponente: M» Nuria Chinchilla, 15 de enero,
Barcelona.
IESE, Universidad de Navarra
Boletín Informativo – Newsletter
Ð ÇAutoevaluaci—n y evaluaci—n del personalÈ,
ponente: Paddy Miller, 15 de enero, Madrid.
Ð ÇComercio electr—nico y comunidades virtualesÈ,
ponente: Brian Subirana, 20 de enero, Barcelona.
Ð ÇLo que funciona en la comunicaci—n de
productos y serviciosÈ, ponente: Xavier Oliver,
20 de enero, Madrid.
Ð ÇÀC—mo preparar mi empresa para el euro?È,
coordinador: Jordi Gual, 22 de enero, Barcelona.
Ð ÇEtica y eficiencia empresarial: ÀC—mo se
relacionan ambos conceptos?È, ponente: Dom•nec
MelŽ, 22 de enero, Madrid.
Ð ÇAuditor’as y sistemas de certificaci—n
mediambientales (EMAS e ISO 14000)È,
coordinadores: Joan E. Ricart - Miguel A. Rodr’guez,
27 de enero, Barcelona.
Ð ÇModelo europeo de excelencia (EFQM): Factores
de Žxito en su implantaci—nÈ, coordinador: Juan
Roure, 29 de enero, Barcelona.
Ð ÇCompetencias directivas para una carrera de
Žxitos. Lo esencial que los directivos deben saber
hacer bien: cu‡ndo y c—mo aprenderloÈ, ponente:
JosŽ L. Alvarez, 29 de enero, Madrid.
Ð ÇAlianzas estratŽgicas: Manejando la relaci—n con
el socioÈ, ponente: Africa Ari–o, 10 de febrero,
Barcelona.
Ð ÇÀEs œtil la financiaci—n especializada para la
empresa espa–ola?È, coordinador: Jorge Soley,
12 de febrero, Barcelona.
Ð ÇServicios & Beneficios. La fidelizaci—n de
clientes y empleados. La inteligencia emocional en
los negociosÈ, coordinador: Luis M. Huete, 12 de
febrero, Madrid; 19 de febrero, Barcelona.
Ð ÇAn‡lisis econ—mico de decisiones estratŽgicas:
Posible utilidad del ABCAÈ, ponente: Juan C.
V‡zquez-Dodero, 12 de febrero, Pamplona.
Ð ÇÀSe pueden vender zapatos por correo?È,
ponente: Llu’s G. Renart, 12 de febrero, Valencia.
Ð ÇLa retribuci—n por competencia y el desarrollo
profesional a la luz de la reforma laboralÈ, ponente:
Sandalio G—mez, 12 de febrero, Zaragoza.
Ð ÇCustomer satisfaction, customer loyalty, service
quality and customer perceived value: The
operationalization of these ÒmarketingÓ conceptsÈ,
speaker: Jaume Ribera, February 13, London.
Ð ÇLas relaciones pœblicas: un factor de
competitividadÈ, coordinador: Xavier Oliver,
17 de febrero, Barcelona.
Ð ÇCaracter’sticas de las empresas familiares
exitosasÈ, ponente: Miguel A. Gallo, 17 de febrero,
Madrid.
Ð ÇC—mo mejorar la capacidad innovadora de la
empresaÈ, ponente: Pedro Nueno, 24 de febrero,
Madrid.
11
IESE, Universidad de Navarra
Boletín Informativo – Newsletter
Ð ÇFunciones del consejo de administraci—n.
Empresas familiares y empresas no familiaresÈ,
ponente: Miguel A. Gallo, 24 de febrero, Valencia.
Ð ÇPresentaci—n
del
ÒModelo
para
el
autodiagn—stico medioambiental estratŽgico e
integralÓÈ, moderador: Joan E. Ricart, 26 de
febrero, Barcelona.
Ð ÇGesti—n de procesos de negocioÈ, ponente:
Jaume Ribera, 26 de febrero, Vigo.
Ð ÇLa empresa participadaÈ, ponente: Santiago
Alvarez de Mon, 3 de marzo, Barcelona.
Ð ÇCaracter’sticas de las empresas familiares
exitosasÈ, ponente: Miguel A. Gallo, 3 de marzo,
Pamplona; 10 de marzo, Barcelona.
Ð ÇC—mo preparar mi empresa para el euro?È,
ponentes: Manuel Brufau - Jordi Gual, 10 de
marzo, Madrid.
Ð ÇModelo europeo de excelencia (EFQM): Factores
de Žxito en su implantaci—nÈ, coordinador: Juan
Roure, 11 de marzo, Zaragoza.
Ð ÇAchieving breakthrough service: Turning
customer service into customer successÈ, speaker
Luis M. Huete, March 11, Oslo.
Ð ÇComercio electr—nico y comunidades virtualesÈ,
ponente: Brian Subirana, 12 de marzo, Madrid.
Ð ÇRedes personales y profesionales para el
desarrollo de la carrera profesionalÈ, ponentes:
JosŽ L. Alvarez - Carlos Garc’a Pont, 17 de marzo,
Barcelona.
Ð ÇValores de empresasÈ, ponente: Josep Faus,
17 de marzo, Madrid.
Ð ÇPresente y futuro de los mercados emergentesÈ,
ponentes: Javier Estrada - Pedro Videla, 19 de
marzo, Barcelona.
Ð ÇLa gesti—n del tiempo personal y profesionalÈ,
ponente: M» Nuria Chinchilla, 24 de marzo,
Madrid.
Ð ÇFinanciaci—n de exportaciones e inversiones en
mercados emergentesÈ, ponentes: Javier Estrada Pedro Videla, 24 de marzo, Santiago de
Compostela.
Ð ÇErrores econ—mico-financieros a evitar en los
emprendimientos empresarialesÈ, ponente: Juan C.
V‡zquez-Dodero, 26 de marzo, Valencia.
Ð ÇLa ayuda de las nuevas tecnolog’as en la
direcci—n de la fuerza de ventasÈ, ponente:
Victoriano Vila, 26 de marzo, Madrid; 31 de marzo,
Barcelona.
Ð ÇConsejeros-delegados, administradores y
socios-empleados: ÀA quŽ rŽgimen de la seguridad
social tienen que cotizar en 1998?È, moderador:
Sandalio G—mez, 31 de marzo, Madrid.
Ð ÇLa gesti—n del tiempo personal y profesionalÈ,
ponente: M» Nuria Chinchilla, 31 de marzo,
Valencia.
12
Seminarios
Ð ÇDirecci—n de personas y equiposÈ, coordinador:
Rafael Andreu, 13 y 14 de enero, Barcelona.
Ð ÇNegociar con eficacia: Tarea diaria del
directivoÈ, coordinador: Juan Roure, 14 y 15 de
enero, Valencia.
Ð ÇIV Encuentro de empresarios del sector de la
distribuci—nÈ, coordinador: JosŽ L. Nueno, 4 y 5 de
febrero, Barcelona.
Ð ÇI Encuentro del sector del gas. La apertura del
sector del gas a la competencia. Convergencia
del gas y la electricidadÈ, coordinador: Eduard
Ballar’n, 4 y 5 de febrero, Madrid.
Ð ÇII Encuentro del sector aseguradorÈ,
coordinador: Alfredo Pastor, 5 de febrero,
Barcelona.
Ð ÇC—mo implantar la gesti—n del conocimiento:
Herramientas y metodolog’aÈ, coordinadores:
Beatriz Mu–oz-Seca - Josep Riverola, 5 de febrero,
Madrid.
Ð ÇLa titulizaci—n en Espa–a, presente y futuroÈ,
coordinador: JosŽ L. Su‡rez, 19 de febrero, Madrid.
Ð ÇComprar bienÈ, coordinador: Pedro Nueno,
25 de febrero, Madrid.
Ð ÇEncuentro de empresarios de la industria
qu’mica. El futuro de la industria europeaÈ,
coordinador: Pedro Nueno, 5 de marzo, Barcelona.
Ð ÇEstrategia competitiva y creaci—n de valorÈ,
coordinadores: Eduard Ballar’n - Josep Faus, 11 y
12 de marzo, Madrid.
Ð ÇC—mo implantar la gesti—n del conocimiento:
Herramientas y metodolog’aÈ, coordinadores:
Beatriz Mu–oz-Seca - Josep Riverola, 16 de marzo,
Madrid.
Ð ÇForum de nuevas empresasÈ, coordinador:
Pedro Nueno, 18 de marzo, Barcelona.
Ð ÇProactividad y empat’a. Dos motores
fundamentales para el trabajo de los directivosÈ,
ponentes: Antonio Valero y Vicente - Francisco
Casa Aruta, 24 de marzo, Barcelona.
Ð ÇEl reto del 2000: C—mo dirigir, organizar y
fidelizar a nuestro equipo de ventasÈ,
coordinadores: Cosimo Chiesa - Llu’s G. Renart,
25 y 26 de marzo, Madrid.
CASOS Y NOTAS TECNICAS
CASES - TECHNICAL NOTES
AGGREGATE DEMAND AND AGGREGATE
SUPPLY
(ASEN-204-E - 0.398.084)
NOTA: La bibliograf’a actualizada se puede
consultar en Internet: http://www.iese.edu
Technical note on movements in aggregate
demand and supply. It analyses the long and
short-term adjustments of the economy to
permanent or transitory shocks, and studies the
effects of fiscal and monetary policy in the short
and in the long-run.
(Also available in Spanish).
Análisis Social y Económico para la Dirección /
Economic Analysis for Management
MEXICAN PESO CRISIS - 1994
(ASE-379-E - 0.398.003)
Videla P.; 10 pages.
The case analyses the possible causes of the
Mexican exchange rate crisis of December 1994.
(Also available in Spanish).
Videla P.; 26 pages.
THE LONG AND WINDING ROAD
MONETARY UNION IN EUROPE (B)
(ASE-383-E - 0.398.074)
TO
The case describes the development of the process
of monetary unification in Europe through the
closing months of 1997 and the first few months of
1998. It discusses the uncertainties that arose as a
result of the opposition to monetary union from
certain sectors of German public opinion. This
case is complementary to case (A) (ASE-372-E).
(Also available in Spanish).
Gual J.; 6 pages.
THE SUPPLY SIDE OF THE ECONOMY:
AGGREGATE SUPPLY AND THE LABOR
MARKET
(ASEN-203-E - 0.398.083)
This note presents a basic model of the labour
market. It shows the relation between the
equilibrium in this market and the shape of
the short and long-run aggregate supply
functions.
(Also available in Spanish).
Gual J.; 9 pages.
IESE, Universidad de Navarra
Boletín Informativo – Newsletter
UNEMPLOYMENT AND INFLATION
(ASEN-205-E - 0.398.085)
This note explores the relationship between the
rate of inflation and the rate of unemployment. It
discusses the short-run trade-off between inflation
and unemployment and shows how this trade-off
disappears in the long run.
(Also available in Spanish).
Gual J.; Videla P.; 8 pages.
MONEY & INFLATION
(ASEN-206-E - 0.398.086)
Technical note on the causes of inflation. It
analyses the quantity equation of money and the
effects of changes in the quantity of money on
long and short-term interest rates. It also studies
the connection between inflation and the fiscal
deficit.
(Also available in Spanish).
Videla P.; 9 pages.
THE BALANCE OF PAYMENTS AND THE
EXCHANGE RATE
(ASEN-207-E - 0.398.087)
This note introduces, first, the structure and
meaning of a countryÕs balance of payments.
Second, it explains the concept of exchange rates
and their variants, how the foreign exchange
markets work, the theory of how exchange rates
are fixed, and the main exchange rate regimes.
It ends by discussing the main determinants
13
IESE, Universidad de Navarra
Boletín Informativo – Newsletter
of exchange rates in the short, medium and
long-run.
(Also available in Spanish).
Argando–a A.; 18 pages.
THE MACROECONOMICS OF AN OPEN
ECONOMY
(ASEN-208-E - 0.398.088)
This technical note offers a simple introduction to
the workings of an open economy. First, it shows
how the traditional model changes when an
economy opens up to the rest of the world (trade
and financial balance). It then describes the main
changes that occur in an open economy, under
fixed and floating exchange rate regimes, using
different assumptions: automatic adjustment,
monetary policy, fiscal policy, devaluation, change
in expectations of depreciation, etc.
(Also available in Spanish).
Argando–a A.; 12 pages.
MONEY: HOW IT IS
CONTROLLED
(ASEN-209-E - 0.398.092)
CREATED
AND
This note briefly introduces the concept of money
and its role as a component of wealth. The balance
sheets of the central bank and of the banks are
used to explain the process by which money is
created and how it is controlled by monetary
policy. The process of money and credit creation is
also explained using the money multiplier.
(Also available in Spanish).
Argando–a A.; 7 pages.
with different variables. Possible interaction
between direct labor inefficiencies and different
overheads (indirect labor, energy use, scrap, and
so on) should be taken into account. The reader is
asked to analyze the performance of the cost
center, through several specific questions.
Rosanas J.M.; 5 pages.
PRODESDIR (A)
(C-684 - 0.198.014)
Este es el primero de una serie de tres casos
(Prodesdir A, B y C) en que se pretende impartir los
conceptos fundamentales en contabilidad de
costes.
La empresa Prodesdir tiene tres productos y est‡
trabajando por debajo de su capacidad. Uno de los
tres productos no es rentable, basado en el an‡lisis
del coste completo. Se piden las posibles medidas
a tomar y se proponen como ejercicios el c‡lculo
del punto de equilibrio, la preparaci—n de la
cuenta de resultados, etc.
Es un caso particularmente adecuado para la
utilizaci—n de una hoja de c‡lculo en la preparaci—n
de la soluci—n, as’ como en la exposici—n en clase.
Rosanas J.M.; 3 p‡ginas.
PRODESDIR (B)
(C-685 - 0.198.015)
El caso presenta una situaci—n posterior a la
del caso (A), cuando la demanda ha aumentado
sustancialmente y puede llegarse al l’mite de la
capacidad de producci—n. Se plantea c—mo
manejarse con ello, y si, desde el punto de vista
contable, tiene l—gica repartir los costes fijos de
acuerdo con el volumen de producci—n real.
Al igual que en el caso que le precede, se
recomienda la utilizaci—n de una hoja de c‡lculo
para su preparaci—n y exposici—n.
Control / Accounting
Rosanas J.M.; 2 p‡ginas.
DASA (Dupont et Abadie, SociŽtŽ Anonyme)
(C-648-E - 0.195.046)
The case is intended to illustrate the use of flexible
budgets in manufacturing settings, for overhead
control and performance evaluation purposes. A
simple situation in a cost center is presented, and
an explanation of cost behaviour is provided,
where different overhead items may vary
14
PRODESDIR (C)
(C-686 - 0.198.016)
Continuaci—n de los dos casos anteriores, en el
que plantea c—mo manejarse en una situaci—n en
la que el aumento de demanda ha hecho que ya se
alcance el l’mite de capacidad en por lo menos
dos aspectos: la mano de obra cualificada y las
m‡quinas. Puede utilizarse para introducir los
conceptos b‡sicos en programaci—n lineal.
Se recomienda, como en los dos casos que le
preceden, su utilizaci—n con hoja de c‡lculo.
autodiagn—stico y mejora de su gesti—n
medioambiental.
Adem‡s del modelo se introduce el concepto de
Çproceso de autodiagn—sticoÈ y se explican cu‡les
son sus principales fases y posibles enfoques.
Rosanas J.M.; 1 p‡gina.
Ricart J.E.; Rodr’guez M.A.; 19 p‡ginas.
SISTEMAS DE CONTABILIDAD DE COSTES
(CN-197 - 0.198.007)
COMPETITOR ANALYSIS
(DGN-531-E - 0.397.255)
Esta nota es una introducci—n a la contabilidad de
costes desde un punto de vista de direcci—n, con
un enfoque actual. Esencialmente, expone: a) los
conceptos fundamentales en sistemas de costes; b)
las bases de reparto de costes; c) los criterios para
formar agrupaciones de costes, y d) los elementos
fundamentales de un sistema. Puede utilizarse
conjuntamente con la nota ÇLos sistemas ABCÈ,
que complementa a Žsta.
This note introduces a conceptual framework for
competitor analysis. First, it provides a method
for establishing who our current competitors are,
what businesses our company competes in, and
what strategic group it belongs to. The concept of
the strategic group made up of companies with
similar strategic assets can help us to identify our
potential competitors. Second, the note presents
a (classic) framework for analysing the
characteristics of the competitors we have
identified. The final task is to establish our
competitorsÕ response profile. Altogether, the note
provides the basic concepts required to establish a
good system of competitor analysis in your
company.
(Also available in Spanish).
Rosanas J.M.; 8 p‡ginas.
Dirección General / Business Policy
NESTLE
(DG-1214 - 0.398.081)
Este caso trata con bastante detalle la organizaci—n
de NestlŽ a nivel mundial. Tras una introducci—n
de la empresa y su historia, se centra en los
cambios que han tenido lugar con la llegada de
Maucher a la presidencia y la transmisi—n del
mando a su sucesor, P. Brabeck. Deja una v’a
abierta para comentar la evoluci—n que tendr‡
lugar en los pr—ximos a–os con el proceso de
globalizaci—n de la econom’a.
Gallo Ll.; Llopis J.; 13 p‡ginas.
IESE, Universidad de Navarra
Boletín Informativo – Newsletter
Fraguas R.; Ricart J.E.; 21 pages.
ASIGNACION DE DERECHOS DE DECISION
(DGN-533 - 0.397.267)
Esta nota es una actualizaci—n de la DGN-480, y
explica los elementos fundamentales a considerar
en el dise–o de la estructura de responsabilidades
y la correspondiente asignaci—n de derechos de
decisi—n. TambiŽn desarrolla las caracter’sticas,
ventajas y desventajas de los distintos arquetipos
organizativos.
Ricart J.E.; 24 p‡ginas.
MODELO PARA EL AUTODIAGNOSTICO
MEDIOAMBIENTAL ESTRATEGICO E INTEGRAL
(DGN-523 - 0.397.118)
En esta nota tŽcnica se presenta el modelo que ha
sido elaborado por el Grupo de Trabajo sobre
Gesti—n Medioambiental. El objetivo de dicho
modelo es que las empresas lo puedan usar
como marco de referencia en los procesos de
ORGANOS DE GOBIERNO
(DGN-542 - 0.398.091)
En la nota tŽcnica se aborda lo referente al
gobierno de la empresa y al —rgano que, por
delegaci—n de la junta general de accionistas, lo
desarrolla: el consejo de administraci—n.
15
IESE, Universidad de Navarra
Boletín Informativo – Newsletter
Se revisan la misi—n, tama–o y funciones del
consejo de administraci—n, as’ como las
caracter’sticas y remuneraci—n de los consejeros.
Fraguas R.; 20 p‡ginas.
MOTORES FUNDAMENTALES EN EL TRABAJO
DE LOS ALTOS DIRECTIVOS. PROACTIVIDAD
Y EMPATIA (A)
(DGN-543 - 0.398.093)
La nota recoge los resultados del di‡logo de un
grupo de directivos de empresas que compiten en
el mismo subsector, en el cual intentan encontrar
caminos para superar las dificultades. Les ayuda
al di‡logo un asesor especializado en hacer
razonar a los directivos con proactividad y
empat’a. La nota est‡ vinculada al caso DG-1213.
Casa F.; Valero y Vicente A.; 3 p‡ginas.
ESTRUCTURA DE DIRECCION. PROCEDIMIENTO DE LAS APTITUDES OPERATIVAS
(DGN-544 - 0.398.095)
Un procedimiento tŽcnico, para diagnosticar,
elegir y realizar estructuras directivas, a ser
considerado como ingrediente por cualquier
procedimiento pol’tico de direcci—n.
Se apoya en el conocimiento de las aptitudes
operativas que tienen las personas que forman
una estructura directiva.
El caso permite la discusi—n y c‡lculo de
conceptos relacionados con el coste ponderado
de capital de una empresa, tales como el coste del
capital, el coste de la deuda, rentabilidad de los
recursos propios, rentabilidades hist—ricas y
rentabilidades esperadas. Se hace especial
hincapiŽ en los distintos tipos de deuda (a corto, a
largo, variable), as’ como en las relaciones entre
los distintos conceptos antes mencionados).
Santom‡ J.; 4 p‡ginas.
CRANE, S.A.
(F-663 - 0.297.225)
El director administrativo de Crane debe definir
una metodolog’a en el proceso de an‡lisis y
selecci—n de inversiones. El caso se centra muy
especialmente en la determinaci—n de las tasas de
descuento de los flujos procedentes de las
inversiones. Permite diferenciar los conceptos de
riesgo total y riesgo sistem‡tico. Dentro del riesgo
total se pone un especial Žnfasis en el riesgo por
tama–o y conocimiento del sector.
Santom‡ J.; 3 p‡ginas.
Taracena E.; Valero y Vicente A.; 12 p‡ginas.
LA POLITICA OPTIMA DE DIVIDENDOS:
UNA APLICACION DEL MODELO DE
VALORACION POR EL ARBITRAJE DE PRECIOS
(FN-395 - 0.296.024)
Dirección Financiera / Financial Management
En esta nota se aplica un modelo sencillo, pero
robusto y completo, para desarrollar los resultados
tradicionales en la teor’a de la estructura —ptima de
capital.
TADEO COMPANY
(F-658-E - 0.297.215)
Santom‡ J.; 18 p‡ginas.
The case is designed to provide students with an
opportunity to consolidate their understanding of
the fundamentals of financial forecasting and the
consistency of the principal forecasting techniques
Ðcash budgeting and analysis of pro forma
financial statements. It also deals with practice in
the critical evaluation of the assumptions
underlying financial forecasting.
(Also available in Spanish).
TEORIA CARDINAL DE LA UTILIDAD: UN
PRELIMINAR PARA EL TRATAMIENTO DEL
RIESGO
(FN-413 - 0.297.194)
Rahnema A.; 9 pages.
16
ESPECIALIDADES MEDICAS, S.A. (ESMESA)
(F-661 - 0.297.220)
La teor’a cardinal de la utilidad es uno de los
desarrollos con m‡s proyecciones pr‡cticas de la
teor’a econ—mica sobre preferencias, elecci—n y
decisi—n. El enfoque de la nota es desarrollar los
conceptos b‡sicos de la teor’a cardinal de
la utilidad a fin de que sirvan de base para
la comprensi—n y medida del riesgo y del valor
temporal del dinero.
Incluye un conjunto de ejercicios resueltos para
mejor comprensi—n y aplicaci—n de los conceptos
que aparecen en la nota.
Santom‡ J.; 23 p‡ginas.
A (VERY) BRIEF INTRODUCTION TO SHAZAM
(FN-438-E - 0.298.026)
Shazam is a very powerful package for statistics
and econometrics that occupies only four
megabytes of disk space. In addition to the
hundreds of commands and options that Shazam
offers, with a bit of skill the user can program
himself just about anything he may need from an
econometric point of view. This note only
attempts to help users with their very first steps in
Shazam, such as the handling of files and a few
basic commands.
IESE, Universidad de Navarra
Boletín Informativo – Newsletter
EL LARGO CAMINO HASTA EL ACUERDO
(FH-614 - 0.497.110)
El caso describe los avances y las conclusiones
alcanzados por un comitŽ compuesto de
representantes de la direcci—n y de los comitŽs
de empresa de las tres f‡bricas de la compa–’a
para implantar grupos de mejora con los
operarios de las f‡bricas.
Rodr’guez J.M.; 13 p‡ginas.
TEAM-BUILDING: HACIENDO EQUIPO
(FHN-313 - 0.498.007)
Breve descripci—n de los pasos a dar para facilitar
la formaci—n de un equipo.
Rodr’guez J.M.; 4 p‡ginas.
Estrada J.; 11 pages.
SSS SOFTWARE IN-BASKET - EXERCISE
(FHE-12-E - 0.498.017)
COMPA„IA SEVILLANA DE ELECTRICIDAD,
S.A. - NOTA DEL INSTRUCTOR
(FT-50 - 5.298.057)
(Caso F-655).
Uso restringido a Instituciones AcadŽmicas.
Su‡rez J.L.: 23 p‡ginas.
Comportamiento Humano en la Organización /
Organizational Behaviour
LA MEJOR CAMPA„A DE PROMOCION
(FH-588 - 0.496.056)
Se describen los problemas de decisi—n de un
Director de Comunicaci—n ante las posibles
campa–as de promoci—n a desarrollar por una
Organizaci—n No Gubernamental de Ayuda al
Desarrollo, para obtener fondos con los que
sostener sus programas de cooperaci—n en pa’ses
del Tercer Mundo.
Chinchilla, M.N.; GuillŽn F.J.; Mart’n J.; Mart’nez
J.L.; 12 p‡ginas.
This exercise involves reading and organizing
17 interrelated documents within a period of two
hours. An in-basket has to be cleared by a newly
appointed manager before departing on a
business trip. The exercise challenges the
studentÕs ability to recognise related issues, and
priorities and to organise these in such a way as
to make his/her decisions understandable to
another.
Miller P.; Schor S.; Seltzer J.; Smither J.; 14 pages.
SSS SOFTWARE IN-BASKET EXERCISE SELF-EVALUATION
(FHE-13-E - 0.498.018)
The self-evaluation document analyses the
17 documents of the in-basket exercise and allows
students to evaluate their own performance. The
self-evaluation process also classifies their
decisions in terms of various categories such as
Motivation of others, Information Analysis,
Cross-cultural awareness, Empowerment.
Miller P.; Schor S.; Seltzer J.; Smither J.; 35 pages.
17
IESE, Universidad de Navarra
Boletín Informativo – Newsletter
SSS SOFTWARE IN-BASKET
RESPONSE DOCUMENTS
(FHE-14-E - 0.498.019)
EXERCISE
-
These forms support the SSS Software In-Basket
Exercise. They provide students with a blank
detailed diary, day planner, e-mail forms and
letters.
Miller P.; 14 pages.
de vista. El primero, basado en la audimetr’a y
otros sistemas de medici—n de audiencia,
determinando el nœmero real de telespectadores.
El segundo, se basa en el recuerdo que generan los
mensajes publicitarios sobre la audiencia.
Ramas S.; Toro J.M.; 9 p‡ginas.
EVOLUCION DE LA OFERTA Y DEMANDA
EN EL MERCADO DE LOS MEDIOS DE
COMUNICACION
(MN-316 - 0.598.015)
Dirección Comercial / Marketing
EL LANZAMIENTO DEL NISSAN MICRA EN
PORTUGAL
(M-977 - 0.595.011)
La direcci—n de Nissan en Portugal debe decidir el
precio a fijar para el nuevo Nissan Micra. Para
ello, realiza una investigaci—n comercial a los
clientes principales basada en el an‡lisis conjunto.
Los resultados de la investigaci—n permiten
dibujar una curva de demanda a distintos niveles
de precios. Aparecen dudas sobre la metodolog’a
de investigaci—n y la interpretaci—n de los
resultados.
La evoluci—n sufrida por parte de la oferta de los
medios de comunicaci—n (televisi—n, prensa, radio
y revistas) y la implantaci—n de nuevas tecnolog’as
(mando a distancia), han influido de forma directa
en la manera de consumir estos medios. En esta
nota tŽcnica se analizan dichos cambios y sus
repercusiones en el consumo de los medios de
comunicaci—n.
Ramas S.; Toro J.M.; 18 p‡ginas.
Dirección de Producción, Tecnología y Operaciones /
Production, Technology and Operations Management
Agell P.; Baucells M.; Segarra J.A.; 13 p‡ginas.
FLOTEL ORELLANA
(P-928-E - 0.698.019)
LA AUDIMETRIA: SISTEMA DE MEDICION Y
CONTROL DE LA AUDIENCIA EN TV
(MN-314 - 0.598.011)
El objetivo de esta nota tŽcnica es mostrar al lector,
de una forma breve, en quŽ consiste la audimetr’a,
c—mo se obtienen los datos y cu‡l es la informaci—n
m‡s relevante que este sistema de medici—n de
audiencia nos ofrece.
The case describes the operations involved in
running the Flotel Orellana, a riverboat hotel
operating in the Amazon jungle. It gives scope for
analysing the relationship between the structure
of operations and the environment in which they
take place.
(Also available in Spanish).
Riverola J.; 20 pages.
Ramas S.; Toro J.M.; 19 p‡ginas.
EFICACIA
DE
LA
COMUNICACION
PUBLICITARIA EN TELEVISION: EL ZAPPING
ACTIVO Y ZAPPING PASIVO
(MN-315 - 0.598.014)
Desde hace dŽcadas se vienen investigando la
manera o maneras posibles de medir la eficacia de
los mensajes publicitarios en televisi—n. Esta nota
tŽcnica analiza la cuantificaci—n de la eficacia
publicitaria principalmente desde dos puntos
18
GRAPHISOFT
(P-932-E - 0.698.029)
Graphisoft is a Hungarian-based technology
company that develops, markets and supports
advanced 3D computer aided design (CAD)
software for the architecture, engineering and
construction (AEC) industries.
Their leading product ÐArchiCAD¨Ð is designed
for the personal computer platform and
represented 90% of the companyÕs $19 million
sales in 1996. ArchiCAD is sold in 80 countries
and in 19 different languages. The case reviews
the start-up, strategic growth, and globalization
process of this entrepreneurial company, which
began operations behind the Iron Curtain in
the early 80s. Further, the case explores the
entrepreneurial and organizational dimensions of
the companyÕs evolution and focuses on key
strategic issues faced by the President, CEO, and
co-founding entrepreneur.
IESE, Universidad de Navarra
Boletín Informativo – Newsletter
GESTION DE EMPRESAS DE SERVICIOS
(PN-392 - 0.698.025)
Es un documento bastante completo sobre las
peculiaridades de la gesti—n de operaciones de
servicios. Tras revisar sus caracter’sticas, la nota
revisa las modificaciones que deben hacerse a los
conceptos tradicionales de calidad, procesos de
mejora, aplicaci—n de tecnolog’a, gesti—n de la
capacidad y gesti—n de las esperas cuando se
aplican a entornos de prestaci—n de servicios.
Pistrui J.; Roure J.; 21 pages.
Ribera J.; 35 p‡ginas.
GRAPHISOFT - TEACHING NOTE
(PT-14-E - 5.698.030)
(Case P-932).
Use is restricted to Academic Institutions.
Pistrui J.; Roure J.; 13 pages.
MICROSOFT PROJECT: A BRIEF TUTORIAL (A)
(PN-389-E - 0.698.003)
The note introduces the use of Microsoft Project
through a simple example.
(Also available in Spanish).
Ribera J.; 9 pages.
MICROSOFT PROJECT: A BRIEF TUTORIAL (B)
(PN-390-E - 0.698.004)
LA CALIDAD: DEFINICION E INSTRUMENTOS
BASICOS DE MEJORA
(PN-393 - 0.698.026)
La nota repasa los conceptos de definici—n de
calidad, el papel de las certificaciones, los
instrumentos b‡sicos de mejora y la definici—n de
proyectos de mejora de calidad.
Ribera J.; 22 p‡ginas.
MEDICION DE CALIDAD
(PN-394 - 0.698.027)
This note is a continuation of a previous note with
the same title. It introduces some extra features of
Microsoft Project: outlining, time constraints, task
relationships, and the definition of resources.
La nota presenta un modelo comprensivo para el
estudio de la calidad en una organizaci—n (calidad
total), describiendo elementos de medida en cada
uno de los bloques del modelo. La nota se
completa con una descripci—n de los elementos de
un sistema de informaci—n para la calidad.
Ribera J.; 8 pages.
Ribera J.; 21 p‡ginas.
PLANETS SIMULATOR (III)
(PN-391-E - 0.698.005)
The note describes the use of the Planets
Simulator (III), which offers students the
opportunity to monitor a project with 43 activities
throughout its life, altering the duration of
activities as appropriate in order to complete the
project on time.
Ribera J.; 12 pages.
LA GESTION ESTRATEGICA DE LOS PROCESOS
(PN-395 - 0.698.037)
Se comentan los cambios que representa pasar de
la gesti—n tradicional de procesos a la nueva
Gesti—n por Procesos o Gesti—n EstratŽgica de
Procesos.
Mo–ino M.; Rodr’guez M.A.; Roure J.; 32 p‡ginas.
19
IESE, Universidad de Navarra
Boletín Informativo – Newsletter
THE BEER GAME (SIMPLIFIED VERSION) EXERCISE
(PE-31-E - 0.695.033)
This exercise presents the well-known beer
distribution game, built around the ideas of
Industrial Dynamics in the late 50s. It describes
the supply chain along four stages and suggests
a (reasonable) policy for handling orders. It
allows the students to see the effects of this
policy along the chain when dealing with a small
change in the final demand and helps in
understanding the dynamics of echelon
inventory systems.
Ribera J.; 2 pages.
PHARE-ACE EVALUATION - EXERCISE
(PE-49-E - 0.697.098)
Based on data from a sample of fifty evaluations,
a professor tries to estimate when he is likely to
finish the whole batch and get home. The exercise
proposes the use of two levels of information.
Ribera J.; 3 pages.
MERCAT DE VIC - EXERCISE
(PE-51-E - 0.697.133)
20
Sistemas de Información / Information Systems
CABLE TELECOMMUNICATIONS ACT 42/1995:
PAY TV, REGULATORY FRAMEWORK AND
TELECOMMUNICATIONS INFRASTRUCTURE (B)
(SI-103-E - 0.197.184)
Part (B) of case SI-92-E.
(Also available in Spanish).
Subirana B.; 1 page.
TIPSA (A)
(SI-105-E - 0.198.005)
TipSA is considering how to improve its business
processes in order to give better service to its
customers while at the same time maintaining the
quality of its dyeing, on which its reputation is
based. TipSA specializes in dyeing lengths of
woven fabric, at the upper end of the market. Its
customers are well known brands (Lacoste, Calvin
Klein, etc.), who demand high quality and
excellent service. The case contains sufficient
information about the way the various activities
are currently performed and about TipSAÕs
business goals to be able to discuss possible ways
of reorganizing the processes so as to improve
them, and how information technologies might be
used to achieve this goal.
(Also available in Spanish).
In this exercise, the student are in charge of a small
ÒchiringuitoÓ (open air sausage stall) in Vic,
competing with other Òstudent-ownedÓ chiringuitos
in the square, serving the same kind of food (grilled
sausages). The market share of each stall will
depend on the level of service given to the
customers.
The exercise provides the basis for a class
simulation in which each student makes repeated
decisions on the number of tables, number of
waiters and number of sausages.
The case describes how TipSA responded to the
problems presented in case (A).
(Also available in Spanish).
Ribera J.; 3 pages.
Andreu R.; Palavecino S.; 11 pages.
Andreu R.; Palavecino S.; 14 pages.
TIPSA (B)
(SI-106-E - 0.198.006)
NOW AVAILABLE IN ENGLISH
STRATEGIC COST ANALYSIS
(ASEN-126-E - 0.390.112)
COFASA - TEACHING NOTE
(ADT-2-E - 5.193.047)
This note introduces the basic principles of
strategic cost analysis, as well as the rudimentary
technical knowledge needed to estimate and use
exponential cost curves.
(Also available in Spanish).
(Case AD-221-E).
Use is restricted to Academic Institutions.
(Also available in Spanish).
IESE, Universidad de Navarra
Boletín Informativo – Newsletter
Ricart J.E.; 9 pages.
Ari–o M.A.; 5 pages.
THE UPCOMING EURO
(ASEN-197-E - 0.397.235)
PASTELERIA CASADEVALL - TEACHING NOTE
(ADT-4-E - 5.194.003)
(Case AD-222-E).
Use is restricted to Academic Institutions.
(Also available in Spanish).
This technical note describes the stages of the
introduction of the euro in the European economy,
and discusses the impact it is likely to have on
business activity, differentiating between the
impact it may have on companiesÕ day-to-day
operations from the more strategic implications.
(Also available in Spanish).
Agell P.; Bastons M.; 6 pages.
Gual J.; 7 pages.
PETROLEOS, S.A. - TEACHING NOTE
(ADT-14-E - 5.195.057)
VICHY CATALAN (B)
(DG-1067-E - 0.394.048)
(Case AD-207-E).
Use is restricted to Academic Institutions.
(Also available in Spanish).
The case describes the strategy pursued by Vichy
Catal‡n between 1984 and 1992, together with the
internal changes that accompanied it. It raises
the issue of how to reorganize the company in line
with the strategy that the Vichy Catal‡n group
aims to pursue from 1993 onwards. In this sense,
this is a Strategy Implementation case.
Topics: a management committee that includes
the five managing directors of five different
brands, each responsible for a separate profit
centre. The dilemmas created by having the same
person hold the post of functional manager and
that of company manager.
(Also available in Spanish).
Agell P.; 1 page.
THE LONG AND WINDING ROAD
MONETARY UNION IN EUROPE (A)
(ASE-372-E - 0.397.236)
TO
This case analyses the situation of the process of
creating a monetary union in Europe at the
beginning of 1997. It discusses the agreements
adopted at the Dublin Council in December 1996,
and the uncertainties that arose in spring 1997
when it was discovered that the European
economy remained stagnant, reducing the
likelihood that many of the Member States would
meet the Maastricht criteria.
(Also available in Spanish).
Gual J.; 18 pages.
Rodr’guez-Llauder M.D.; Vilˆ J.; 23 pages.
ESASA (ESPA„OLA DE SE„ALIZACION DEL
AUTOMOVIL, S.A.)
(DG-1148-E - 0.396.035)
The case presents the options available to the
company Esasa in its attempt to enter the Mexican
market. It introduces the various partners Esasa
21
IESE, Universidad de Navarra
Boletín Informativo – Newsletter
could choose to collaborate with in order to enter
this market at the lowest possible cost.
(Also available in Spanish).
Fraguas R.; Garc’a Pont C.; Rodr’guez-Llauder
M.D.; 18 pages.
TELEFONICA I&D (A) - TEACHING NOTE
(DPT-4-E - 5.496.046)
(Case DP-110-E).
Use is restricted to Academic Institutions.
(Also available in Spanish).
G—mez S.; Porta J.; 2 pages.
STRATEGY AND LEVELS OF STRATEGY
(DGN-434-E - 0.391.087)
(Case DP-111-E).
Use is restricted to Academic Institutions.
(Also available in Spanish).
Ricart J.E.; Vilˆ J.; 9 pages.
G—mez S.; Molero E.; 1 page.
BUSINESS STRATEGY
(DGN-442-E - 0.392.093)
COMEXI, S.A. (B) Ð TEACHING NOTE
(DPT-7-E - 5.496.058)
The note describes the main elements to be taken
into account in formulating business strategies,
detailing the main instruments of analysis. It also
offers some thoughts on the strategy formulation
process.
The case is designed to serve as a guiding thread
for the study of strategy and introduces the reader
to other IESE technical notes on related aspects of
the formulation process.
(Also available in Spanish).
(Case DP-112-E).
Use is restricted to Academic Institutions.
(Also available in Spanish).
Franquesa J.; Ricart J.E.; 23 pages.
CORPORATE STRATEGY
(DGN-530-E - 0.397.254)
The note describes the different approaches to the
concept of corporate strategy, defined as the way
the company decides to relate to the various social
strata and seeks to create value by configuring
and coordinating its activities in multiple markets.
It presents an integrative model based on four
elements:
The company vision; its strategic assets; the
configuration of its businesses; and its
organizational coordination. Each element is
discussed in detail, with an emphasis on the
concept and use of strategic assets in the company.
(Also available in Spanish).
Garc’a Pont C.; Ricart J.E.; 24 pages.
22
MULTIASISTENCIA: HUMAN RESOURCES TEACHING NOTE
(DPT-5-E - 5.496.048)
The note introduces the concept of strategy and
explains why it is best for companies to make their
strategy explicit. It then presents and elaborates
upon the three levels of strategy: corporate,
business and functional.
(Also available in Spanish).
G—mez S.; Serra F.; 2 pages.
VALENCIANA DE CEMENTOS
(F-587-E - 0.295.010)
The case discusses the acquisition of Valenciana
by Cemex.
(Also available in Spanish).
Arias A.; Santom‡ J.; 15 pages.
SOCIAL EFFECTIVENESS AND SELF-CONTROL
(FHN-232-E - 0.492.005)
The note points out the limitations of government
regulation and the markets when it comes to
guaranteeing that the exercise of free initiative
will be socially useful. This indicates that some
kind of internal control mechanism is needed
within the individual. The note stresses the fact
that company managers will play a leading role in
the coming decades, and explains why it is so
important Ðfor the managers themselves as well as
for the companies they work inÐ that they should
have a capacity for self-control. How to develop
this capacity is, strictly speaking, the subject of
ethics.
(Also available in Spanish).
IESE, Universidad de Navarra
Boletín Informativo – Newsletter
Act 42/1995. The case illustrates the importance
of the regulatory framework in the information
industries.
(Also available in Spanish).
Chinchilla M.N.; PŽrez L—pez J.A.; 5 pages.
Subirana B.; 12 pages.
JAMES & ROBERT - TEACHING NOTE
(FHT-23-E - 5.496.037)
ROBERTO CORTES
(TD-19-E - 0.389.046)
(Case FH-535-E).
Use is restricted to Academic Institutions.
(Also available in Spanish).
The director of the marketing division of a large
high-tech company is trying to select a
representative to reverse the current decline in
sales. One of the candidates seems to have excellent
qualities. In addition, he offers a computer disk
containing confidential information about the
companyÕs main competitor, where he used to
work.
(Also available in Spanish).
Rodr’guez J.M.; 3 pages.
THE PROCESS OF CHANGE IN EROSKI Ð
TEACHING NOTE
(FHT-28-E - 5.497.101)
MelŽ D.; 5 pages.
(Case FH-585-E).
Use is restricted to Academic Institutions.
(Also available in Spanish).
Alvarez de Mon S.; 3 pages.
INDEC
(P-796-E - 0.692.028)
The general manager of a customer engineering
company is considering the role that training
should play in his company in order to make it an
effective tool for securing competitive advantage.
The case analyses a conventional training plan
and the companyÕs mission.
(Also available in Spanish).
Mu–oz-Seca B.; Riverola J.; 12 pages.
CABLE TELECOMMUNICATIONS ACT 42/1995:
PAY TV, REGULATORY FRAMEWORK AND
TELECOMMUNICATIONS INFRASTRUCTURE (A)
(SI-92-E - 0.196.025)
The case introduces a company that wishes to
invest in pay-TV and cable telecommunications
infrastructures, and that is analysing the strategic
implications of the Cable Telecommunications
DOCUMENTOS DE INVESTIGACION
RESEARCH PAPERS
No 354 - January 1998
Jordi Canals
BANKS AS SHAREHOLDERS:
MATTER?
DO
THEY
Abstract: Bank-industry relationships are a
widespread organizational arrangement. In some
countries, such links are the outcome of banksÕ
financial support of non-financial firms to speed up
the industrialisation process. Nowadays, they have
become important as a result of the effort large
banks are putting into their diversification process,
as they move away from more traditional banking
activities towards other businesses.
The purpose of this paper is twofold. The first is to
present a typology of banks and their strategies
when they act as shareholders in non-financial
firms. The second is to discuss how bank-industry
relationships affect firmsÕ performance and why.
We explore the specific chains of causality from
bank ownership to non-financial firms. The factors
that seem to have the strongest influence on firmsÕ
performance are the structure and functions of the
board of directors and the banksÕ corporate
strategy.
23
IESE, Universidad de Navarra
Boletín Informativo – Newsletter
No 355BIS - January 1998
Antonio Argando–a
THE STAKEHOLDER THEORY AND THE
COMMON GOOD
strategic and systemic view of HRM. Implications
follow.
Abstract: The theory of the social responsibility of
the firm oscillates between two extremes: one that
reduces the firmÕs responsibility to the obtainment
of (the greatest possible) profit for its shareholders,
and another that extends the firmÕs responsibility
to include a wide range of actors with an interest or
ÒstakeÓ in the firm. The stakeholder theory of the
social responsibility of business is more appealing
from an ethical point of view, and yet it lacks
a solid foundation that would be acceptable to a
variety of schools of thought.
In this paper I argue that the stakeholder theory
could be founded on the concept of the common
good. First, I explain the foundations of the theory
of the common good, the concept itself, how it
relates to the individual good, and its role in the
firm. Following that, I explain how the theory of
the common good could be applied to the
stakeholder theory. Finally, I draw some
conclusions.
[Also available in Spanish (DI-355)].
No 358 - February 1998
Max Torres
ETHICAL DECISION-MAKING MODELS
No 356 - January 1998
Carlos S‡nchez-Runde - Marianne J. Koch
A PROCESS MODEL OF STRATEGY AND
HUMAN RESOURCE MANAGEMENT: THE
OWNERSHIP TRANSFERENCE MODEL
Abstract: Theory on strategy and human resource
management (HRM) has centered on the
individual manager and the system of HRM
practices. Despite their merits, neither individualnor system-based models explain the process that
shapes the strategy-HRM relationship. This paper
fills that gap by introducing the Ownership
Transference Model of HRM.
No 357 - January 1998
Carlos S‡nchez-Runde
A CONCEPTUAL APPROACH TO THE
CREATION AND EARLY DEVELOPMENT
OF HUMAN RESOURCE MANAGEMENT
DEPARTMENTS
Abstract: This paper deals with the creation of
HRM departments in small to medium-sized firms.
It presents propositions based on efficiency, agency
and institutional theory on transferring personnel
practices from the top management to the new
department. Applications are made towards a
24
Abstract: This paper surveys the dominant
models in the literature of positive Ethical
Decision-Making Models (hereafter, EDMMs): an
area in the academic sub-discipline of business
ethics. While this group of eight models is not
exhaustive, it is, I believe, definitive.
The survey does not address other decision-making
apparati, e.g., game theory. Neither does it address
normative Ethical Decision-Making Models, which
constitute a separate and distinct literature.
EDMM theory rests upon various and sundry
foundational bases: e.g., Sutherland & CresseyÕs
social learning theory; normative ethics, especially
deontology and teleology; KohlbergÕs model of
cognitive moral development; Fishbein & AjzenÕs
theory of reasoned action, and; RestÕs four-component
model of moral behaviour. Consequently, the
literature is eclectic. Nevertheless, each model
purports to formalize the decisional processes by
which an agent arrives at an ethical, or unethical,
course of action.
The methodology of this survey will be to: 1)
present a synopsis and graphical depiction of each
model; 2) critique each one individually; 3)
summarize features and criticisms of each model,
and; 4) conclude with global observations about
EDMMs. By way of anticipation, the literature is of
one mind with respect to certain core assumptions,
e.g., that: decision makers donÕt change in any
appreciable, personal way through decision
making, and; the ethically relevant aspect of
decision making is an agentÕs ensuing outward
action, or the external consequences of his action.
With these, and other, assumptions, I am in
disagreement.
No 359 - February 1998
Beatriz Mu–oz-Seca
BUILDING AND GENERATING A CREATIVE
AND
FLEXIBLE
WORK
FORCE:
KEY
COMPETENCIES
Abstract: The purpose of this paper is to
concentrate on the competencies required for a
flexible work force. It aims to provide a frame of
action and some concrete ideas on how a company
can develop the key competencies needed to create
a flexible work force. These competencies will
supply part of the capacity for solving the
challenges posed by our work environment.
The paper is divided into four sections. Section
one concentrates on defining and identifying
competencies.
Section
two
isolates
the
competencies that are critical in order to have
flexible workers. Section three defines technological
competence as key to the success of todayÕs work
force. Section four provides a frame of reference for
designing an action plan, from the point of view of
the (any) administration.
No 360 - February 1998
Carlos Portales - Joan E. Ricart - Josep M.
Rosanas
UNDERSTANDING TRUST TO BUILD STRONG
RELATIONSHIPS IN ORGANIZATIONS
Abstract: Trust has been recognized as an
essential element for business success today, but at
the same time, as something that is difficult to
achieve. The increasingly changeable business
environment, the pressure on firms to show
bottom-line results, and individual economic selfinterest all stand in the way of establishing stable
relationships based on mutual trust. In this paper
we try to understand the roots of trust, how to
build trust in organizations, and the implications of
trust as a source of competitive advantage. First,
we analyze the concept of calculative trust, as
derived from game theory and transaction cost
economics. Second, we expound some basic ideas
that develop our concepts beyond calculative trust.
Third, we present a basic framework for describing
the results and motives of individual actions, and
use it to present two stronger forms of trust:
integrity-based trust and personal trust. Finally, we
draw out some of the managerial implications of
the role of trust in reducing transaction costs and
creating organizational advantages.
IESE, Universidad de Navarra
Boletín Informativo – Newsletter
No 361 - March 1998
Sandra Sieber
LEARNING, KNOWLEDGE AND INTERACTION: TOWARDS A NEW APPROACH TO THE
LEARNING INTENSIVE ORGANIZATION
Abstract: Globalization, deregulation, and the
continuous improvement of technologies have
created new competitive conditions for firms.
Knowledge and learning are nowadays considered
one of the main sources of competitive advantage.
This paper attempts to gain a deeper insight into
the learning phenomenon. It starts by reviewing
the existing literature on learning and identifies
four basic dimensions of learning: locus, level,
source and persistence. As the number of
influencing variables is very large, the field has not
been able to develop a comprehensive integrative
framework. An alternative point of view is
therefore proposed, in which the focus is on
knowledge. The paper discusses the different types
of knowledge that may be relevant for
organizational action, and the different processes of
knowledge creation and transfer. Finally, it is
suggested that a more appropriate unit of analysis
of the learning phenomenon would be the
ÒinteractionÓ.
25
IESE, Universidad de Navarra
Boletín Informativo – Newsletter
WORKING PAPERS
No 98/1 - January 1998
Esteban Masifern - Joaquim Vilˆ
STRATEGIC THINKING: STRATEGY AS A
SHARED FRAMEWORK IN THE MIND OF
MANAGERS
Abstract: Even though most academics, business
people and consultants recognize that the purpose
of strategy formulation can no longer be to
generate strategic plans, critics of formal strategic
planning offer little guidance on how to overcome
its limitations and rarely address CEOsÕ concerns
about turning strategic vision into an operational
reality.
This paper proposes a managerial approach to
strategic thinking and strategy formulation which
takes both process and content issues into account.
Strategic thinking is understood as a deliberate and
creative process, as well as the resulting state of
mind. Strategy is presented as a shared framework
which guides managersÕ daily actions. The
approach is developed in a way that attempts to
respond to CEOsÕ concerns regarding the need to
manage by strategy in todayÕs rapidly changing
environment. Key building blocks of the new
approach to strategy formulation are presented.
26
The framework outlined here seeks to contribute to
top managementÕs efforts to build a shared
understanding of strategic issues and encourage
actions at the front line which are consistent with
the strategy pursued by the firm.
Nº 98/2 - Enero 1998
Miguel A. Rodr’guez - Joan E. Ricart
MODELO PARA EL AUTODIAGNOSTICO
MEDIOAMBIENTAL ESTRATEGICO E INTEGRAL: CUADERNO DE TRABAJO
Resumen: Uno de los principales logros del
proyecto de investigaci—n ÇGrupo de trabajo sobre
gesti—n medioambientalÈ, ha sido el desarrollo del
ÇModelo para el autodiagn—stico medioambiental
estratŽgico e integral.È Con objeto de probar la
validez del modelo se han llevado a cabo procesos
de autodiagn—stico en las cinco compa–’as que han
colaborado en dicho proyecto de investigaci—n.
Como resultado de dichas experiencias se
introdujeron diversas mejoras en el modelo.
Asimismo, se consider— que ser’a muy œtil, para
facilitar el proceso de autodiagn—stico, la
elaboraci—n de un cuaderno de trabajo que sirviera
de gu’a a las compa–’as que decidieran usar dicho
modelo como marco de reflexi—n en los procesos de
mejora de su rendimiento medioambiental. En este
documento se presenta dicho cuaderno de trabajo.
MATERIAL PEDAGOGICO INCORPORADO DE OTRAS INSTITUCIONES
TEACHING MATERIAL INCORPORATED FROM OTHER INSTITUTIONS
¥ HARVARD BUSINESS SCHOOL
C-687
Identificar las empresas, 2 p‡gs.
IESE, Universidad de Navarra
P-926
Barilla SpA (A), 26 p‡gs.
P-927
Barilla SpA (B), 3 p‡gs.
C-689
Chemalite, Inc. (B), 5 p‡gs.
P-929
Barilla SpA (C), 8 p‡gs.
DG-1197
Margaret Thatcher, 26 p‡gs.
P-930
Barilla SpA (D), 4 p‡gs.
DG-1198
Intel Corporation: 1968-1997, 27 p‡gs.
DG-1207
Becton Dickinson: Equipo mundial de recolecci—n
de sangre, 25 p‡gs.
DG-1208
Philips & Matsushita: Retrato de dos empresas en
evoluci—n, 25 p‡gs.
DG-1209
Kentucky Fried Chicken (Japan) Ltd., 22 p‡gs.
DG-1210
Apple Computer en 1997, 9 p‡gs.
DG-1211
Allentown Materials Corp: Divisi—n de productos
electr—nicos (B), 17 p‡gs.
DG-1212
Allentown Materials Corp: Divisi—n de productos
electr—nicos (C), 5 p‡gs.
P-936
Boeing 767: Del concepto a la producci—n, 24 p‡gs.
TD-128
Los talleres de reparaciones de autom—viles de
Sears (C), 5 p‡gs.
¥ HARVARD BUSINESS REVIEW
DGN-538
C—mo utilizar las filiales para conseguir un
alcance global, 12 p‡gs.
DGN-539
La teor’a del negocio, 10 p‡gs.
¥ AMOS TUCK SCHOOL OF BUSINESS
C-692
Allied Stationery Products, 11 p‡gs.
¥ GROUPE HEC
DPN-38
Entrevista de evaluaci—n de personal, La, 19 p‡gs.
M-1047
Toys "R" Us, 34 p‡gs.
DPN-39
Nota sobre los sistemas de recompensa y el papel
de la compensaci—n, 14 p‡gs.
¥ IDE
DPN-40
Nota sobre el proceso de contrataci—n y selecci—n de
personal, 18 p‡gs.
FHN-315
Consideraciones sobre el acoso sexual, 7 p‡gs.
¥ STANFORD UNIVERSITY
F-677
Service Corporation International, 21 p‡gs.
F-679
Florida Air, Inc., 13 p‡gs.
FN-443
Nota sobre los inductores de valor, 15 p‡gs.
¥ THE MCKINSEY QUARTERLY
M-1046
Dell Computer Corporation, 26 p‡gs.
DGN-541
Los nuevos directores nacionales, 11 p‡gs.
RESEARCH NEWSLETTER
EDICION:
Silvia Jiménez, Assistant Director, Research Division
PUBLICA:
IESE, Universidad de Navarra
Avda. Pearson 21 – 08034 Barcelona – Spain
Fax: (34) 93 253 43 43
E-mail SILVIA @IESE.EDU
27