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The Change Catalyst: Secrets to Successful and Sustainable Business Change
by Campbell MacphersonWINNER OF BUSINESS BOOK OF THE YEAR 2018 (The Business Book Awards) "Essential reading for CEOs and leaders of change." - Martin Davis, CEO, Kames Capital 88% of change initiatives fail. The Change Catalyst provides you with the insight, tools and know-how you need to make sure your next change, strategy or M&A is the one in eight that succeeds. Whether you're trying to change a process, a culture, a behaviour or an entire business, success demands complete clarity of what you are trying to achieve and why, followed by a clear plan to align your people to deliver. All change is about people, and one of the most important ingredients for successful change is the identification and appointment of a Change Catalyst. This is the person who can guide your organisation – its people and its processes – to the ultimate delivery of the outcomes your business needs. The book takes you deep inside the culture and process of change to show you how to set yourself up for success in both the short and long term; identify your goal, clarify your vision, stay focused on the outcome and develop and deliver a do-able plan. It will also explain how to genuinely engage stakeholders at all levels in every stage of the process. Real-world case studies show you what a successful change initiative looks like on the ground, and the Change Toolbox offers a collection of proven tools and models to streamline planning and implementation. Clear, intelligent guidance cuts through the buzzwords to get down to business quickly, and a pragmatic, holistic approach helps you tackle strategy, culture, execution and more. People don't like change; it rattles their cages and makes them uncomfortable – and emotion trumps logic every time. This book shows you how to pinpoint the emotional triggers, coax logic out of hiding and get everyone on board as you drive real, lasting change. Learn why typical change initiatives are far more likely to fail than succeed. Identify your Change Catalyst to strengthen both process and outcome. Overcome cultural challenges and turn understanding into transformation. Develop and implement a solid strategy for successful change. Whether you want change at the team level or on a government scale, no initiative is immune from the perils of inertia, misguided focus, distracted leadership or muddled planning. Change is inevitable. Successful change isn't. The Change Catalyst will tilt the odds on your favour and enable your next change initiative to be among the 12% that succeeds.
The Change Champion's Field Guide
by Marshall Goldsmith David Ulrich Louis Carter Roland L. Sullivan Norm Smallwood W. Warner BurkeNearly a decade later, leading change pioneers in the field have realigned to bring you the second edition of the Change Champion's Fieldguide. This thoroughly revised and updated edition of the Change Champion's Field Guide is filled with the information, tools, and strategies needed to implement a best practice change or leadership development initiative where everyone wins. In forty-five chapters, the guide's contributors, widely acknowledged as the "change champions" and leaders in the fields of organizational change and leadership development, explore the competencies and practices that define an effective change leader. Change Champions such as Harrison Owen, Edgar Schein, Marv Weisbord, Sandra Janoff, Mary Eggers, William Rothwell, Dave Ulrich, Marshall Goldsmith, Judith Katz, Peter Koestenbaum, Dick Axelrod, David Cooperrider, and scores of others provide their sage advice, practical applications, and examples of change methods that work. Change Champion's Field Guide examines the topic of leadership and change within four main topics including: Key elements of leading successful and results-driven change Tools, models, instruments, and strategies for leading change Critical success and failure factors Trends and research on innovation, change, and leadership Guidelines on how to design, implement, and evaluate change and leadership initiatives Fresh case studies that highlight leading companies who are implementing successful change in innovative and inspired ways.
The Change Cycle: How People Can Survive and Thrive in Organizational Change
by Ann Salerno Lillie BrockThe Change Cycle will help readers to more resourcefully cope with change at work by helping them understand and predict their behavior and the behavior of others.
The Change Cycle: How People Can Survive and Thrive in Organizational Change
by Ann Salerno Lillie BrockDealing with organizational change is about getting through the emotion and commotion with minimal damage to your blood pressure, career, relationships, and confidence. In The Change Cycle, Ann Salerno and Lillie Brock help readers cope by explaining the six predictable and sequential stages of change—loss, doubt, discomfort, discovery, understanding, and integration—and offer examples, tools, and success strategies so you can move resourcefully through each stage. Each chapter focuses on a single stage of the Change Cycle, described in a lively, informal style peppered with frequent humor. Utilizing stories and essays about the ways people, departments, and teams have successfully dealt with challenges, Salerno and Brock offer examples, tools, and success strategies so individuals at all levels will know what to expect from themselves and others and will be able to resourcefully move through each stage. Based on the authors’ fifteen years of experience in hundreds of companies and government agencies worldwide and firmly grounded in recent discoveries in social psychology and cognitive neuroscience, The Change Cycle will help readers at all levels take responsibility for how they react and respond in a changing work environment.
The Change Function
by Pip CoburnThe ultimate guide to predicting winners and losers in high technology Pip Coburn became famous for writing some of the liveliest reports on Wall Street. He quoted everyone from Machiavelli to HAL, Anaïs Nin to Yoda, Einstein to Gandhi. But along with the quirky writing, he consistently delivered sharp insights into technology trends and helped investors pick stocks with long-term potential. After years of studying countless winners and losers, Coburn has come up with a simple idea that explains why some technologies become huge hits (iPods, DVD players, Netflix), but others never reach more than a tiny audience (Segways, video phones, tablet PCs). He says that people are only willing to change when the pain of their current situation outweighs the perceived pain of trying something new. In other words, technology demands a change in habits, and that's the leading cause of failure for countless cool inventions. Too many tech companies believe in "build it and they will come"-- build something better and people will beat a path to your door. But, as Coburn shows, most potential users are afraid of new technologies, and they need a really great reason to change. The Change Function is an irreverent look at how this pattern plays out in countless sectors, from computers to cell phones to digital TV recorders. It will be an invaluable book for people who create and invest in new technologies.
The Change Handbook: The Definitive Resource on Today's Best Methods for Engaging Whole Systems
by Peggy Holman Tom Devane Steven CadyBusinesses implementing great changes are often heavy on "hard" methods, such as Six Sigma, and lack the means to achieve "human" results, encouraging boardroom presence and response, say the authors. In this volume, they describe approximately 60 diverse methods for implementing change in organizations big and small. With almost twice the coverage of the first edition, both "hard" and "human" methods are introduced in accessible language, offering theoretical basis and including matrices and case studies to demonstrate implementation. The methods are organized by the sort of change they are meant to achieve, such as support, planning, structuring and improving. Some methods discussed include: Conversation Café, participative design, study circles, scenario thinking, human systems dynamics, and appreciative inquiry. Abundant support materials help readers navigate, select, and mix-and-match the methods. Intended audience includes middle, project and senior managers; community leaders and activists; internal and external consultants; business re-engineering groups; and students of change. Annotation ©2007 Book News, Inc., Portland, OR (booknews.com)
The Change Handbook: The Definitive Resource on Today's Best Methods for Engaging Whole Systems (Berrett-koehler Ser.)
by Peggy Holman, Tom Devane, Steven Cady, and AssociatesThe Change Handbook features chapters by the originators and foremost practitioners of such high-leverage change methods as Future Search, Real Time Strategic Change, Gemba Kaizen, and Open Space Technology. The authors outline distinctive aspects of their approach; detail roles and responsibilities; share a story illustrating usage; and answer frequently asked questions about how to put it into practice. Examples of successful change efforts acquaint readers with the diverse array of methods being employed today. A one-stop comparative chart allows them to evaluate the methods to determine what will work best fro them, and an in-depth reference section helps them locate the resources they need to get started.
The Change Laboratory for Teacher Training in Entrepreneurship Education: A New Skills Agenda for Europe (SpringerBriefs in Education)
by Daniele MorselliThis open access book illustrates a new type of formative intervention for in-service teacher training in entrepreneurship education. The book describes a Change Laboratory and shows how teachers and workshop assistants develop the idea of a multidisciplinary project (area di progetto) entailing the design of a self-service and parking lot in a dismissed area close to the city centre. The multidisciplinary project is taken as example of how an idea is debated and turned into collective action and change, the very essence of initiative and entrepreneurship. This includes preparing the students for the enterprise world, for example by teaching them competencies with authentic problems; students working by projects; group work; showing initiative and autonomy. The book considers diverse levels of change brought about by this formative intervention: the teachers, the curriculum, the students, eventually the whole institution. The Change Laboratory thus increases the participation of students, teachers and stakeholders in the school towards a new curriculum through the implementation of a multidisciplinary project connecting school with the world outside and working life.The book features a foreword by Yrjo Engestrom, one of the fathers of the Change Laboratory toolkit and the principal investigator (PI) of this study. The study is financed by European Commission within Horizon 2020.
The Change Leader's Roadmap: How to Navigate Your Organization's Transformation (J-b Us Non-franchise Leadership Ser.)
by Anderson Linda Ackerman Dean AndersonThis is the most complete change methodology we have found anywhere. " -- Pete Fox, General Manager, Corporate Accounts, Microsoft US In these turbulent times, competent change leadership is a most coveted leadership skill, and savvy change consultants are becoming trusted participants at the board table. For both leaders and consultants, knowing how to navigate the complexities of organization transformation is fast becoming the key to a successful career. This second edition of the author?s landmark book is the king of all ?how-to? books on change. It provides a strategic overview of the author?s proven change process methodology, as well as pragmatic guidance and tools for each key step in a complex transformational change process. The Change Leader?s Roadmap is the most comprehensive guide available for building transformational change strategy and designing and implementing successful transformation. Based on thirty years of action research with Fortune 500 companies, government agencies, the military, and large non-profit global organizations. Outlines every key step in a transformational change process Provides worksheets, tools, case examples, and assessments that you can immediately apply to all types of change efforts Includes updated information on a wealth of topics including the critical path tasks and how to use the CLR to change minds and cultures The new edition also includes new activities, methods for building change capability, guiding principles for change, and advice for leading the human dynamics in change and creating an organizational vision. This book is specifically written for leaders, project managers, OD practitioners, change practitioners, and consultants seeking greater change results.
The Change Maker's Playbook: How to Seek, Seed and Scale Innovation in Any Company
by Paul B. Carroll Amy J. RadinHow any leader can deliver business-changing innovation now.Any leader in any size company, no matter the size or sector, feels the pressure to innovate, find new ideas and business models, and create enduring customer value. There is no one formula or set process to find and execute the ideas that achieve these goals; customers set moving targets, shareholders are unforgiving and demanding, and society expects companies to care about much more than the bottom line. The fast and furious forces of change stimulated by technology, demographics, lifestyles, and economic, environmental, political and regulatory impacts -- or any number of these in combination – are easy to see. They are easy to talk about. They are easy to intellectualize. The problem? The answers are hard to execute and require nuanced combinations of leadership, skills, strategy and tactics. On top of that, innovation has moved from an abstraction that will matter at some distant date to a front-and-center deliverable that must show evidence of impact in the space of the calendar quarter. In the stories, tools, techniques and advice inside The Change Maker’s Playbook, leaders will find tangible steps to find and safeguard the plans that will deliver the sustainable business-changing impacts – new customers, new relationships, new sources of value and growth— their businesses need. Separated from the pack of academic and consultant innovation theories, Radin’s approach stems from her own experience sitting in the innovation hot seat at some of the world’s most demanding companies and is bolstered by interviews with 50 corporate executives, founders and startup investors representing media, e-commerce, payments, healthcare, government, professional services, and not-for-profit sectors. The book walks readers through Radin’s adaptive, 9-part framework, engaging them in ready-to-apply techniques. Her work shows leaders how to find the big ideas that will meaningfully address customer needs, take the insight from idea through implementation in a way that delivers in the short and long-term for the organization, and lead effectively through the obstacles that tend to derail or diminish innovation. Three phases – Seeking, Seeding and Scaling – organize the framework within an intuitive, logical and useable format, with concrete actions outlined every step of the way. The answer to the dilemma every business faces today is that innovation is exhilarating, rewarding and even fun when it is approached as a unique challenge, but it can also be polarizing, unpredictable, and scary. Success requires that leaders rethink how they lead innovation. Leaders know they must set aside preconceived notions of what works, and look to those who have already walked in their shoes. This is why The Change Maker’s Playbook was written, and why it will become an ongoing resource for any innovation leader. Table of Contents: Foreword The Change Maker’s Framework (image) Introduction Chapter 1: Discovering Real Problems That Matter Chapter 2: Purpose, Passion, Promise and Positioning Chapter 3: The Art Of Being Resourceful Chapter 4: Prototype, Test, Learn, Iterate Chapter 5: Business Model Linchpins Chapter 6: The Green Light Moment Chapter 7: Launch Chapter 8: Testing and Experimenting Chapter 9: Anticipating and Adapting Epilogue Acknowledgements Bibliography
The Change Makers: From Carnegie to Gates, How the Great Entrepreneurs Transformed Ideas into Industries
by Maury KleinFrom one of America's foremost business historians, a penetrating and engaging look at the qualities that create great entrepreneursEntrepreneurs, even more than inventors, are essential to American business. While inventors produce ideas, entrepreneurs get things done, build the markets, make ideas reality. But what creative talents do the legendary American entrepreneurs share, and what can you learn from them about business success? Using lively character sketches and company stories, University of Rhode Island professor and author Maury Klein analyzes how innovators from Andrew Carnegie to Bill Gates triumphed over perennial challenges in planning and strategy, production, operations, staffing, and sales--and transformed entire industries. Comparing the retailing acumen of J.C. Penney and Wal-Mart's Sam Walton, the organizational ingenuity of Standard Oil's John D. Rockefeller and Citigroup's Sandy Weill, the imaginative marketing of General Motors' Alfred Sloan and MacDonald's Ray Kroc, Klein reveals the art and archetype of successful entrepreneurialism. Moving beyond the clichés, he describes the artistry of great businessmen who build empires and dreams as well as fortunes, in The Change Makers.
The Change Mindset: The Psychology of Leading and Thriving in an Uncertain World
by Andy CraggsChange and uncertainty aren't going away. You can help your team navigate the storm and embrace them.In The Change Mindset, leadership development expert Andy Craggs unpicks the main reasons why teams fail when it comes to dealing with change and navigating uncertainty. He defines the common traps that lead to failure; from not allowing yourself to reimagine the possible, mimicking the behaviour that your competition has shown when dealing with change, to doubting yourself and your team. Leading through change requires business leaders to be courageous and to show empathy, both for themselves and their people. With those attributes, this book, which is steeped in behavioural and organizational psychology analysis, catapults you to developing meaningful and long-lasting adaptability and resilience in the face of uncertainty. Join the author in his exploration of transitions, and hear from world-renowned business, academia, arts and social enterprise leaders who share their own dealings with change. They show us the way in how they have grown to manage change for themselves and the people around them.
The Change Monster: The Human Forces That Fuel or Foil Corporate Transformation and Change
by Jeanie Daniel DuckThe number of mergers taking place in the corporate world is staggering: approximately 1.5 million per year. Add countless reorganizations, power shifts, and commerce start-ups and you have one of the most important issues facing management today. Yet, how do most companies manage these change efforts? in a word: badly.
The Change Wheel: Elements of Systemic Change and How to Get Change Rolling
by Rosabeth Moss KanterThis note presents a framework and tool for leading fundamental systemic change in organizations and beyond. It identifies the 10 key elements of systemic change and arrays them along the spokes of a wheel, which suggests momentum and an interconnected rather than linear process for changing systems. All spokes must be engaged and then re-engaged to keep change moving. The practical model shows how spokes are related and reinforce one another and also presents a logical order for connecting them.
The Change of Climate and Ecological Environment in China 2021: Synthesis Report
by Dahe Qin Yongjian Ding Panmao Zhai Lianchun Song Yong Luo Kejun JiangThis book analyzes China's climate and environmental change facts, impacts and vulnerabilities, and mitigation strategies. On basis of synthesis assessment, through comprehensive integration, it focuses on four aspects: climate change and ecological environment evolution, future climate change and risk prediction, technical measures and action results for adaptation and mitigation, and development path with climate resilience. In terms of change facts, it focuses on extreme climate events, large-scale factors affecting China's climate change, and the impact of climate change on China's social and economic system. In terms of future risks, it focuses on key variables such as temperature, precipitation and other key variables and the prediction of future changes in extreme climate events. Potential risks in resources, agriculture, cryosphere, ecology, human settlements, health and major projects are also discussed. In terms of adaptation and mitigation, this book systematically sorts out and summarizes the effects, policy choices and synergies of climate change adaptation and mitigation from two perspectives, global and Chinese. Finally, from the perspectives of carbon emission path, sustainable development, and building a community with a shared future for mankind, it explains the essentials of choosing a development path with climate resilience.
The Change of Global Economic Governance and China
by Yuyan ZhangThis book focuses on global economic governance covering the following five areas: the theoretical and historical evolution of global economic governance, international financial governance, international trade and investment governance, global climate change and sustainable development governance, and international macroeconomic policy coordination. On the one hand, this book aims to provide a general analytical framework for studying global economic governance. On the other hand, the study on global economic governance involves understanding its historical development, exploring its emergence and evolution, analyzing what challenges global economic governance faces in the context of a new globalization, looking into its future development trends, and proposing the direction of the reform of global economic governance system on the above basis, and finally providing theoretical references and policy advice for China’s better participation in global economic governance.
The Changemaker Mindset: How Innovation and Change Starts with Inner Transformation
by Ilja GrzeskowitzPersonality is the Key to Professional SuccessPersonal relationships are key to success: In a time when workplaces are becoming more digital and more automated every day, our mindsets and our personal relationships will determine whether we succeed in tomorrow’s markets. We all have one shot to make a lasting impact. Innovators with the changemaker mindset know how to see that opportunity when it comes and make it matter.The human success factor: In the coming years, the human success factor will determine who is among the winners and who is among the losers. All business adventures start with a focus on the self. When you know who you are and develop a deep sense of confidence in yourself, you’ll have the flexibility to roll with the punches.Change comes from within: Whether your goal is to lead a self-determined life, position your company for the future, or be a successful part of a team, external change starts with internal transformation.With The Changemaker Mindset, you’ll master the three Ps of personal development:Purpose. Reconsider what motivates you and find your non-negotiable core principles.People. Build a strong inner circle of peers, because nobody wins alone.Persistence. Develop the confidence to take action, navigate setbacks, and implement change.Readers who liked The 7 Habits of Highly Effective People by Stephen Covey, Leading Change by John Kotter, and The Innovator's Dilemma: When New Technologies Cause Great Firms to Fail by Clayton Christensen will love this new approach to effective business management from personal development.
The Changing Boundaries of the Firm: Explaining Evolving Inter-firm Relations (Routledge Studies In Business Organizations And Networks Ser.)
by Massimo G. ColomboThis book offers a distinctive analysis of the relations and interplay between the internal activities of firms, their changing boundaries, and increasing reliance on networks and alliances with other firms.The contributors offer a blend of theoretical and empirical studies; they are based on a set of related perspectives in modern economics, inclu
The Changing Business Landscape of Romania: Lessons for and from Transition Economies
by Andrew R. Thomas Constantin Bratianu Nicolae Al. PopRomania stands at the crossroads of Europe, Asia, and the Middle East. Since 1990, when the country experienced the bloodiest revolution of all of the Warsaw Pact members, Romania has gone through withering change. While the formal transition from a totalitarian, communist state was completed in 2007 with Romania's accession into the European Union, the adaptation of the nation's people and business climate to a market-based economy is a daily occurrence. In the 2000's, in the lead up to EU accession, Romania was one of the largest recipients of Foreign Direct Investment in the world. While multinational corporations poured in hundreds of billions of dollars, there was also a restructuring of the way business was conducted. Western systems of management and organization--foreign to most Romanian academics and business people--almost overnight transformed the way the marketplace was perceived. Romania's entrepreneurs were quick to adapt to the new ways, leveraging new opportunities in the environment. Fortunes were made. Multinationals also burgeoned in Romania. Companies like Microsoft, General Electric, Timken, Kraft, P&G, Renault and dozens of others successfully took advantage of the possibilities created by a relatively well-educated population that was moving into the middle class. For the most part, however, researchers and scholars were caught off guard by the quickening pace of business change in Romania. Only until very recently has the academic community at large been able to wade through the murkiness and begin to see what the new landscape looks like. It is the purpose of this edited volume, which includes the work of some of Romania's finest business scholars, to provide even greater clarity to the current and future scene. Moreover, the experience in Romania helps shed light on the dynamics of economic and business transition throughout Eastern Europe, the Middle East, and other emerging regions, with implications for practice, policymaking, and research.
The Changing Capital Markets of East Asia (Routledge Studies In The Growth Economies Of Asia)
by Ky CaoIn recent years much attention has been given to the unparalleled economic development of East Asia. In The Changing Capital Markets of East Asia the contributors look at the growing sophistication of capital markets in this area and discuss the possible economic and political consequences. The theme of the book is more strategic than technical and
The Changing Culture of a Factory
by Elliott JaquesTavistock Press was established as a co-operative venture between the Tavistock Institute and Routledge & Kegan Paul (RKP) in the 1950s to produce a series of major contributions across the social sciences. This volume is part of a 2001 reissue of a selection of those important works which have since gone out of print, or are difficult to locate. Published by Routledge, 112 volumes in total are being brought together under the name The International Behavioural and Social Sciences Library: Classics from the Tavistock Press. Reproduced here in facsimile, this volume was originally published in 1951 and is available individually. The collection is also available in a number of themed mini-sets of between 5 and 13 volumes, or as a complete collection.
The Changing Dynamic of Government–Nonprofit Relationships: Advancing the Field(s) (Elements in Public and Nonprofit Administration)
by Steven Rathgeb Smith Kirsten A. GrønbjergWe advance nonprofit scholarship by using the conceptual framework of policy fields to examine differences across nonprofit fields of activity. We focus on the structure of relationships among four sectors (government, nonprofit, market, informal) and how relationships differ across policy fields (here health, human services, education, arts and culture, and religion). The fields differ notably in the economic share that each sector holds and the functional division of labor among the sectors. Systemic differences also exist in how the nonprofit sector interacts with the government, market, and informal sectors. The policy fields themselves operate within national contexts of distinctive economic and political configurations. The framework explores how government-nonprofit relationships differ across policy fields, the factors responsible for this variation, and offers predictive capacity to generate hypotheses and research designs for additional research. We provide insights on how nonprofit organizations differ in key sub-fields with direct relevance for policy and practice.
The Changing Dynamics Of International Business In Africa
by Ifedapo Adeleye Lyal White Kevin Ibeh Abel KinotiAfrica is rising. Once dubbed "the hopeless continent", it is now widely regarded as the next growth frontier for global capitalism. Over the last decade or so, the continent has become more fully integrated into the global economy with a phenomenal surge in foreign direct investment from emerging economies. The increase in the power and influence of emerging market multinationals is dramatically changing the business landscape in the region, and prompting discussions on the decline of theWest in Africa. However, it is not only emerging market multinationals that are rising in Africa, as many 'home-grown' giants are expanding and successfully competing regionally. The research papers and cases in The Changing Dynamics of International Business in Africa provide multi-disciplinary insights on the opportunities and challenges of doing business in Africa, as well as on the changing competitive dynamics in the region, as Western, BRIC and African multinationals intensify their fight for market dominance.
The Changing Economic Geography of Globalization (Routledge Studies in Global Competition)
by Giovanna VertovaThe process of globalization has had profound, often destabilizing, effects on space, at all levels (i.e. local, regional, national, international). This revealing book analyzes, both theoretically and empirically, the effects of globalization over space. It considers, through a dialogue among different paradigms, the ways in which space has become more important in the global economy. Globalization has been advocated as a way of shrinking time and space which will lead to a homogenized global market; a suggestion challenged in differing ways and with a variety of approaches by all the contributors to this volume. Leading authorities from a range of disciplines are represented amongst this impressive list of contributors, including Eric Sheppard, Bjørn Asheim, Richard Walker and Peter Swann. The chapters demonstrate persuasively the continuing, and even increasing, role of space in the global economy, and throughout, the book covers viewpoints from the fields of: international political economy economic geography regional and local economics. This impressive volume, which contains a selection of the best in contemporary scholarship, will be of interest to the international arena of academicians, policy makers and professionals in these or related fields.
The Changing Face Of Economics: Conversations with Cutting Edge Economists
by J. Barkley Rosser David C. Colander Richard P. F. HoltThe Changing Face of Economics gives the reader a sense of the modern economics profession and how it is changing. The volume does so with a set of nine interviews with cutting edge economists, followed by interviews with two Nobel Prize winners, Paul Samuelson and Kenneth Arrow, reflecting on the changes that are occurring. What results is a clear picture of today's economics--and it is no longer standard neoclassical economics. The interviews and commentary together demonstrate that economics is currently undergoing a fundamental shift in method and is moving away from traditional neoclassical economics into a dynamic set of new methods and approaches. These new approaches include work in behavioral economics, experimental economics, evolutionary game theory and ecological approaches, complexity and nonlinear dynamics, methodological analysis, and agent-based modeling. David E. Colander is Professor of Economics, Middlebury College. J. Barkley Rosser, Jr. , is Professor of Economics and Kirby L. Kramer Jr. Professor of Business Administration, James Madison University. Richard P. F. Holt is Professor of Churchill Honors and Economics, Southern Oregon University.