Marco Visentin

Happiness and the Market: The Ontology of the Human Being in Thomas Aquinas and Modern Functionalism

In this paper, we aim at identifying a concept of man that can represent a reference point for those who work or supervise social processes characterized by commercial or economic purposes. Economic, management, and organizational theories and ideas have a large impact on the way we think of ourselves, and we act accordingly. By making a radical departure from the ontological assumptions, this paper proposes a shifting of the current paradigm in terms of how we theorize about man. In order to do this, we analyze the ontological level of the relationship between the idea of happiness and the concept of man from medieval scholastics, and the relationship between the idea of happiness and functionalism in social science. We first prove the formal equivalence between the structures of human choice as described in the qq. 6–21 Prima Secundae of the Summa Theologiae of St. Thomas Aquinas, and the model of problem-solving behavior as conceptualized in popular management models. Then we show that the Aquinas theory of action could provide a more adequate view of economy and business in the sociocultural and environmental context in which they operate. Finally, we present the implications of this study for management theory, practice, and education.

New Wines in New Bottles: The 'Renaissance' of the Italian Wine Industry

Abstract Unexpected events such as crises challenge organizations and actors who must search for solutions and alternatives. Severe crises can be fatal, especially when they affect entire industries. The ability to identify a viable course to address contingencies brought about by a crisis is critical to determining outcomes. In this paper, we examine the systemic response to a crisis at different levels within an industry in order to obtain a better understanding of industry responses to crises. Through a historical case study of the Italian wine industry renaissance, we show how a sudden and devastating crisis was circumvented to spur a renewed industry imbued with better practices and knowledge. Our findings also show the key role of preconditions in sustaining the renaissance.

Motivations of small firms to develop relationships with banks

Purpose – This paper aims to investigate what drives the decision of small non-food store retailers to develop a relationship with the bank financing them. The analysis addresses the banking industry and quantifies the extent to which a decision to develop a relationship is influenced by satisfaction, trust and by two different kinds of values, namely, monadic and dyadic. Design/methodology/approach – The analysis is based on data collected from more than 400 small business by means of a questionnaire, and develops a structural equation model to estimate the impact of satisfaction, trust and value constructs on the intention to develop the relationship. Findings – The results show that satisfaction and trust do not exert a direct effect on the decision to develop the relationship that is directly determined by dyadic value (i.e. the comparison between the cumulated value given through time and the cumulated efforts sustained by the partner). In turn, dyadic value stems from monadic value (i.e. the self-ce...

Genuine representation of brands: a new method of representing unbiased brand-by-attribute perceptions

In this study we propose a new method of representing unbiased perceptions of brands. Specifically a likelihood-based model simultaneously disentangles a major class of psychological bias affecting attribute-based perceptions, and obtains a dimensionality reduction of the problem, resulting in a two-dimensional map. Extant research, while recognizing the importance of halo effect, has mainly focused on the identification and measurement of this bias. Conversely, in this study we explicitly address how to obtain and to graphically represent genuine brand-by-attribute ratings. Our perceptual representation offers a better understanding of the idiosyncratic impact of each attribute on brands, which ultimately helps managers to delve into the nature of brand differentiation. The proposed approach is exemplified through an empirical application using the BrandAsset® Valuator scale in a high-involvement product category.

Group level learning and decision making: a simulation of a group of managers

This study proposes and tests a model of heuristic group problem-solving. This was achieved by carrying out a simulation study: an artificial mechanism and a group of managers were observed while performing the same tasks. The analysis of this simulation led to interesting insights. First, the study highlights the distinctive nature of group cognitive activities. Second, a notion of bounded rationality can be applied to groups as well as the use of heuristics. Third, this article explores the structure of the representation of knowledge and problem-solving and shows how decisions in complex information environments can be represented by a combination of simple rules. Finally, this study establishes a link between estimation and learning processes.

La gestione delle relazioni con i clienti delle banche retail a vocazione locale: uno strumento di CRM per l'analisi e la previsione dei comportamenti di churn

Relationship Management in the context of the local retail banking: a tool for the analysis and forecasting of churn behaviors - The changing competitive context of European banking could be an issue also for small locally oriented banks. This sector is facing a growing trend of customer churn that may seriously affect profitability and threat the competitive position of small retail banks. This paper proposes an analysis of customer attrition within the customer base of an Italian Banca di Credito Cooperativo to support the management of small banks in dealing with customer churn. Our work identifies determinants and magnitude of churn dynamics as long as it allows management a tool to select, target and manage CRM policies. A final simulation empirically document the relation between the Customer Lifetime Value and the expected financial gain in presence of a varying success rate for retention activities. Keywords: churn, retail banking, customer relationship management Parole chiave: churn, retail banking, customer relationship management

Market feedback and group learning within organisations

This paper proposes a model to represent the organisational learning process at group level. The paper first sets up the analytical framework from the variety of research purposes and epistemological premises characterising the multidiscipline context in which scholars study cognitive activities of collective agents. In this theoretical ground, it is shown how to deduce from relevant literature and empirical contexts an architectural proposal for the representation of the group learning process. According to this architecture, a group within an organisation uses heuristics while performing cognitive activities activated from a market feedback different from that expected. The structure of the learning process consequent to a perceived gap between desired and measured outcome suggests a strong analogy with greedy structures of some heuristics in artificial intelligence, and starts off some methodological discussion over the simulation of the whole process.

Style and substance: a case study of the expansion of mature business-to-business relationships in the Italian clothing industry

Purpose This paper aims to propose a model of the determinants of the expansion of mature business-to-business relationships in the downstream channel of the Italian clothing industry. The authors investigate the role of both economic and social determinants of retail buyers’ intentions to expand their relationships with a seller. Design/methodology/approach The empirical analysis is based on surveys of more than 150 retail buyers in mature relationships with a major clothing company. This context offers a unique opportunity to explore the interplay between the need for stable relationships and the need to continuously innovate to satisfy consumer demand, given rapidly changing tastes and styles, which can inhibit relationship expansion. Findings Buyers’ intentions to expand relationships are primarily determined by the absence of a formal agreement with the seller. Perceptions of a seller’s goodwill seem to overshadow the detrimental effects of two likely sources of opportunism in the clothing industry: demand uncertainty and the availability of alternative suppliers. Findings also provide evidence of a substitutive effect of formal control and trust in mature business relationships. Originality/value The authors provide insights into the dynamics of mature business relationships with a focus on expansion, rather than just the propensity for relational continuity, and they show how the interplay of transaction costs and social dimensions leads to this expansion. The authors also provide empirical evidence of a context, the clothing industry, where downstream relationships represent an important source of competitive advantage.

L'interazione fra effetto olistico e rappresentazione temporale nella percezione delle marche

L’obiettivo di questo studio e di analizzare l’interazione fra il pregiudizio olistico di marca e i livelli di rappresentazione degli oggetti percepiti. I nostri risultati documentano empiricamente che la semplice presentazione del compito di scelta fra marche con orizzonti temporali diversi non determina differenze significative nella percezione degli oggetti. Questo effetto si osserva sia per i giudizi basati su attributi che per quelli basati su distanze. Una volta che i giudizi lungo attributi vengono depurati dall’effetto olistico, la distanza temporale separa significativamente le rappresentazioni delle marche. Inoltre, gli effetti olistici stimati dalla procedura, mostrano una correlazione elevata con i giudizi empirici di preferenza, irrobustendo i risultati empirici presentati. Questo studio ha una rilevanza metodologica in quanto mostra l’interazione fra diversi livelli di rappresentazione e la presenza di pregiudizi olistici di marca.