A Brief Guide to the Law of Mission Investing for U.S. Foundations

U.S foundations have considerable freedom to invest their assets in ways that further their missions, even at greater risk or lower financial return. The legal framework that governs the investment of foundation assets is both complex and ambiguous, however, with the result that many foundation leaders and investment advisors are unclear about what is legally permissible. Anne Stetson and Mark Kramer of FSG have prepared two reports, in consultation with nationally-recognized legal experts and senior foundation officers, analyzing the federal tax and state fiduciary laws as they apply to US foundations. In addition to legal analysis, the reports provide practical recommendations as to how foundations can best navigate these laws in making mission-related or program-related investments. A Brief Guide to the Law of Mission Investing for U.S. Foundations is a short 18 page booklet, suitable for foundation staff and boards, as well as their advisors, explaining in non-technical language the factors foundations must consider in making mission investments

Risk, Return and Social Impact: Demystifying the Law of Mission Investing by U.S. Foundations

Discusses in detail the legal aspects of mission-related investing, including federal and state fiduciary laws, foundations' fiduciary responsibility, and emerging practices, and makes recommendations. Includes examples of investments and case studies

The Power of Interfacing Departments in Shaping B2B Customer Satisfaction

Extant research identifies service quality and service encounter perceptions as the key determinants of satisfaction. However, no study in a business-to-business environment has examined the simultaneous effect of these two determinants on overall satisfaction. Hence, we do not know which of these two determinants has a stronger impact on service satisfaction. We investigated this issue by collecting data from shipping managers of several firms in Singapore that used the services of ocean freight shipping companies. Results of path analysis indicate that perceptions of service encounters have a relatively stronger impact compared to service quality. Implications of these results are discussed

The impact of brand and category characteristics on consumer stock-out reactions

We develop two models to test hypotheses on the specific impact ofbrand and category characteristics on consumer stock-out responses.Our empirical results show that both characteristics are importantdeterminants. Consumers are more product loyal in hedonic productgroups than in utilitarian product groups and consumers are more brandloyal to high equity brands than to low equity brands. Brand loyaltyis especially strong for high equity brands in hedonic product groups.Our study also confirms findings from prior research on OOS reactions.Theoretical and managerial implications of the findings of the studyare discussed.retailing;consumers;brand management;fast moving consumer goods;marketing-models

Perceived benefits of customer loyalty programs: validating the scale in the Indian context

The article endeavors to validate the scale developed by Mimouni-Chaabane and Volle (2010) that measures perceived benefits of customer loyalty programs in the Indian context. On running exploratory and subsequently confirmatory factor analyses based on the responses collected from loyalty program members from two Indian cities and across different industries, the researchers opine that in the Indian context, the scale has to undergo changes. The original scale developed and tested on French loyalty program members had sixteen items that measure five perceived benefits namely, monetary savings, exploration, entertainment, recognition and social. It was found that in the case of India, the number of items remain intact. However, the entertainment benefits dimension and the recognition benefits dimension merged to form a singular dimension which the researchers name as ‘ego pleasure’. The authors believe that this research will benefit the managers in devising strategies for particular segments of their loyalty program members. In addition, it opens up the possibility of further testing the scale in different cultural contexts.Loyalty, perceived benefit, customer loyalty program (CLP), scale, Indian loyalty market.

The effects of loyalty programs on customer satisfaction, trust, and loyalty toward high- and low-end fashion retailers

This study examines the differential effects of the benefits customers receive from a loyalty program (LP) on satisfaction with the LP, trust in the LP, and store loyalty for high- and low-end fashion retailers. With survey data from U.S. LP subscribers, the study tests the relationships using multiple regressions and analysis of covariance. The results show that symbolic benefits are more important for high-end fashion store consumers' satisfaction with the LP; conversely, utilitarian benefits increase consumers' satisfaction with the LP more in low-end fashion retailing, whereas hedonic benefits increase consumers' satisfaction with the LP in both types of retailers. All benefits in both types of retailers affect trust in the LP. Finally, satisfaction with and trust in the LP are important drivers of loyalty to the retailer. The findings have important implications on how managers of high- and low-end fashion retailing can effectively design their LP rewards to maximize loyalty

The role of effective communication and trustworthiness in determining guests’ loyalty

The file attached to this record is the author's final peer reviewed version. The Publisher's final version can be found by following the DOI link.This study investigates the role of trustworthiness and effective communication in the development of guests’ loyalty within the hotel sector. We propose and test a conceptual model that differentiates between two types of loyalty: attitudinal and behavioral. As hotels can control and manage how they communicate their desired characteristics to guests, we posit effective communication and a hotel’s trustworthiness as the key concepts in building loyalty. This study reports on the findings of a study based on 322 hotel guests. Data were analyzed using structural equation modeling. The results reveal that implementing effective communication methods leads to a trustworthy image, which in turn has a positive impact on attitudinal and behavioral loyalty. This research provides hotel managers with strategic directions for cultivating guest loyalty

What do measures of patient satisfaction with the doctor tell us?

Objective: To gain an understanding of how patient satisfaction (PS) with the doctor (PSD) is conceptualized through an empirical review of how it is currently being measured. The content of PS questionnaire items was examined to (a) determine the primary domains underlying PSD, and (b) summarize the specific doctor-related characteristics and behaviors, and patient-related perceptions, composing each domain. Methods: A scoping review of empirical articles that assessed PSD published from 2000 to November 2013. MEDLINE and PsycINFO databases were searched. Results: The literature search yielded 1726 articles, 316 of which fulfilled study inclusion criteria. PSD was realized in one of four health contexts, with questions being embedded in a larger questionnaire that assessed PS with either: (1) overall healthcare, (2) a specific medical encounter, or (3) the healthcare team. In the fourth context, PSD was the questionnaire's sole focus. Five broad domains underlying PSD were revealed: (1) Communication Attributes; (2) Relational Conduct; (3) Technical Skill/Knowledge; (4) Personal Qualities; and (5) Availability/Accessibility. Conclusions: Careful consideration of measurement goals and purposes is necessary when selecting a PSD measure. Practice implications: The five emergent domains underlying PSD point to potential key areas of physician training and foci for quality assessment

The Impact of Frequent Shopper Programs in Grocery Retailing

Frequent Shopper programs are becoming ubiquitous in retailing. Retailers seem unsure however about whether these programs are leading to higher loyalty, or to higher profits. In this paper we analyze data from a US supermarket chain that has used a number of frequent shopper rewards to improve sales and profitability. We find that while these programs are profitable, this is only because substantial incremental sales to casual shoppers (cherry pickers) oset subsidies to already loyal customers. In this way our findings are inconsistent with existing theories about how frequent shopper programs are supposed to work. We construct our own Hotelling-like model that explicitly models cherry picking behavior and show that its predictions match the data quite closely. We further test the predictions of our model by characterizing the impact of such programs on trip frequency and basket size. We then use the model to examine more complex scenarios. For example, our analysis suggests that frequent shopper programs may be unprofitable if they eliminate all cherry picking. This may explain why some retailers seem dissatisfied with their programs. We end by proposing a solution that retains the benefits of the frequent shopper programs and yet continues to let supermarkets benefit from price discrimination.

Where do I belong? Volunteer attachment in a complex organization

To understand volunteer retention and recruitment in complex organizations, this paper focuses on volunteers' attachment to a multipurpose and multi-branch organization. Using the Red Cross in Flanders (Belgium), a service organization with multiple locations offering a variety of programs, we investigate whether volunteers' attachment is primarily directed toward the organization as a whole, or whether volunteers are more prone to develop localized attachment to the program or branch in which they participate. Our findings suggest that managers recruiting volunteers to large complex organizations should be cautious in using the overarching organizational mission to attract volunteers. Rather, attention should be put on specific programs and activities using volunteers. It is only through longer-term service that volunteers appreciate the organization's mission and principles and find their allegiance to the organization as a whole