Journal of Applied Corporate Finance最新文献_第5页

The role of organizational design and culture in the value-based healthcare movement: The case of the Cleveland Clinic 组织设计和文化在基于价值的医疗保健运动中的作用：克利夫兰诊所的案例

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Journal of Applied Corporate Finance Pub Date : 2024-01-16 DOI: 10.1111/jacf.12584

James K. Stoller, Bruce D. Lindsay, Don Chew

{"title":"The role of organizational design and culture in the value-based healthcare movement: The case of the Cleveland Clinic","authors":"James K. Stoller, Bruce D. Lindsay, Don Chew","doi":"10.1111/jacf.12584","DOIUrl":"10.1111/jacf.12584","url":null,"abstract":"The Cleveland Clinic was founded in 1921 as a multi-specialty group practice staffed and run by four physicians who had served in a military hospital in France during World War I. The four men—Drs. Crile, Lower, Bunts, and Philips—were inspired by a vision of a healthcare system in which physicians “acted as a unit,” collaborating in ways that departed radically from the back-then norm of fiercely independent and competitive physicians and practices. In so doing, the Cleveland Clinic challenged the status quo of physicians as “heroic lone healers.”1Over the next 101 years, the collaborative vision that gave rise to the Clinic evolved into a nonprofit healthcare system made up of 22 hospitals and 275 outpatient facilities around the globe, including Cleveland Clinic hospitals in Abu Dhabi and London. The Main Campus in Cleveland today has some 1300 hospital beds where patients are treated by over 3000 physicians supported by 40,000 other caregivers, including 11,000 nurses. In aggregate, the Clinic now employs over 77,000 caregivers worldwide—a group that includes more than 5500 physicians and scientists, 3500 advanced practice providers, 2000 trainees, and 15,000 nurses. In 2022, this group of 77,000 treated 3.4 million patients with distinction.2 The Cleveland Clinic has consistently been ranked as a top hospital in US News and World Report rankings, with many top-ranked specialties. For example, the Clinic has been ranked #1 in the category of Cardiology and Heart & Vascular Surgery in all 29 years the rankings have been undertaken.The stellar rankings and performance of the Clinic have also received national recognition, perhaps most memorably during President Obama's much-publicized trip to Cleveland in 2012, when the Clinic's practices and accomplishments were held up as a model for American healthcare. The Clinic's reputation owes importantly to its ongoing commitment to continuous improvement in carrying out its three-part mission of “caring for life, researching for health, and educating those who serve.” One such improvement was a fundamental and innovative transformation of the Clinic's organizational structure, or “org chart,” in 2008.Until 2008, the Clinic was organized, like most hospitals (and colleges and their medical schools), into separate “departments” corresponding to their special areas of expertise—departments of Surgery, Internal Medicine, Neurology, and so forth. This departmental organization is a traditional structure that reflects the guild-like nature of medical training, and the bond of common experience shared by physicians working in the same specialties. Departments (or divisions) are further broken down into medical subspecialties such as Cardiology, Nephrology, Rheumatology, and Gastroenterology, and the surgical specialties of Cardiovascular Surgery, Urology, Orthopedics, and other disease-oriented surgical disciplines.This traditional structure of g","PeriodicalId":46789,"journal":{"name":"Journal of Applied Corporate Finance","volume":"35 4","pages":"32-39"},"PeriodicalIF":0.7,"publicationDate":"2024-01-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/jacf.12584","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139499061","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

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Message from the editor

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Journal of Applied Corporate Finance Pub Date : 2023-12-24 DOI: 10.1111/jacf.12583

John McCormack

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Corporate culture in a new era: Views from the C-suite

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Journal of Applied Corporate Finance Pub Date : 2023-12-08 DOI: 10.1111/jacf.12581

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Corporate culture in a new era: Views from the C-suite* 新时代的企业文化：来自首席执行官的观点*

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Journal of Applied Corporate Finance Pub Date : 2023-12-07 DOI: 10.1111/jacf.12582

John R. Graham, Jillian Grennan, Campbell R. Harvey, Shivaram Rajgopal

{"title":"Corporate culture in a new era: Views from the C-suite*","authors":"John R. Graham, Jillian Grennan, Campbell R. Harvey, Shivaram Rajgopal","doi":"10.1111/jacf.12582","DOIUrl":"10.1111/jacf.12582","url":null,"abstract":"Corporate culture has been likened to an organization's heartbeat—the less visible, somewhat intangible force that shapes its movements, health, and longevity. Just as humans need a strong heartbeat to live, culture is often the difference between business success and failure. Google's culture is frequently celebrated as a cornerstone of its innovation and achievement.1 Zappos's superior customer service stems from a teamwork culture, cultivated as early as the hiring stage. In contrast, the troubles at VW, Toshiba, Uber, and Wells Fargo are routinely held up as examples of cultural failures.2Yet designing a culture that can be credited with great business success is difficult, especially when considering the global catalysts shifting workers to hybrid arrangements and placing new demands on management practices and governance structures.3 Employees are increasingly seeking work that aligns with their personal values, rather than just financial incentives.4 Similarly, employees, especially when not immersed full-time in toxic office cultures, are feeling empowered as whistleblowers and increasingly reporting to the SEC failures within their companies.5Amidst these transformations, we believe now is the time to reflect on what corporate culture means, and how it contributes to a company's productivity, efficiency, and value creation. To do so, we analyze executives’ answers to questions about culture, including “How do companies build and maintain a culture focused on enhancing efficiency and value?” “What role do other formal institutions, such as board oversight and compensation systems, play in reinforcing (or undermining) culture?” and “How does one measure the effectiveness of a corporate culture?”It is in this context of reflection and inquiry, that we synthesize insights from a comprehensive survey of chief executives and financial officers (CEOs and CFOs, referred to interchangeably as “executives” or “managers”) of a wide range of North American public and private companies.6 Along with specific questions about corporate culture and its role in their organizations, we also conducted in-depth interviews of executives representing over 20% of the US equity market capitalization. As we review the insights, we endeavor to incorporate the perspectives on culture, most relevant to this era of unprecedented change for leaders and workers.In the pages that follow, we begin by summarizing the survey findings to provide context for the interviews and open-ended responses. Among the most important findings is that a majority of the executives responding to the survey considered corporate culture as “a top three value driver” at their companies, and almost all agreed that improving their corporate culture would increase their firm's value. And although the CEO was identified as “the most influential person” in setting the firm's current culture, corporate boards were also seen as affecting culture—but primarily through ","PeriodicalId":46789,"journal":{"name":"Journal of Applied Corporate Finance","volume":"35 4","pages":"7-21"},"PeriodicalIF":0.7,"publicationDate":"2023-12-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/jacf.12582","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138592097","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

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EVA and total quality management* EVA 和全面质量管理*

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Journal of Applied Corporate Finance Pub Date : 2023-11-27 DOI: 10.1111/jacf.12580

Jeffrey M. Bacidore, John A. Boquist, Todd T. Milbourn, Anjan V. Thakor

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Purpose, culture, and strategy in banking 银行业的宗旨、文化和战略

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Journal of Applied Corporate Finance Pub Date : 2023-11-13 DOI: 10.1111/jacf.12578

Anjan Thakor

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Workplace gender diversity and employee turnover 职场性别多样性与员工流动率

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Journal of Applied Corporate Finance Pub Date : 2023-11-08 DOI: 10.1111/jacf.12579

Aiyesha Dey, Joseph Pacelli, George Serafeim, Fangzhong Liu

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The rise and fall of Stern Stewart & Co.’s EVA financial management system 斯特恩·斯图尔特的兴衰公司的EVA财务管理系统

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Journal of Applied Corporate Finance Pub Date : 2023-10-25 DOI: 10.1111/jacf.12575

Don Chew

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Corporate culture and organizational architecture 企业文化和组织架构

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Journal of Applied Corporate Finance Pub Date : 2023-10-25 DOI: 10.1111/jacf.12576

James A. Brickley, Clifford W. Smith, Jerold L. Zimmerman

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A change toward value-based corporate culture in petrobras 巴西石油公司转向以价值为基础的企业文化

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Journal of Applied Corporate Finance Pub Date : 2023-10-18 DOI: 10.1111/jacf.12577

Martin Schwarz, Pedro Tavares

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