6,079 research outputs found
Projections onto Efficient Frontiers: Theoretical and Computational Extensions to DEA
Data Envelopment Analysis (DEA) has been widely studied in the literature since its inception in 1978 and is a key analytical technique used in Wharton's performance analysis for retail delivery systems. The methodology behind the classical DEA, the oriented method, is to hold inputs (outputs) constant and to determine how much of an improvement in the output (input) dimensions is necessary in order to become efficient. The authors extend this methodology in two substantive ways. First, a method is developed that determines the shortest projection from an inefficient DMU to the efficient frontier in both the input and output space simultaneously, and second, introduces the notion of the "observable" frontier and its subsequent projection. The observable frontier is the portion of the frontier that has been experienced by other DMUs, and thus the projection onto this portion of the frontier guarantees a recommendation that has already been demonstrated by an existing DMU or a convex combination of existing DMUs. A numerical example is used to illustrate the importance of these two methodological extensions.
Measuring Aggregate Process Performance Using AHP
When one undertakes a benchmarking study, it is quite typical to collect performance data on a set of business processes from a variety of organizations. While one can compare efficiency on a process-by-process level, how can one compare the overall efficiency of one organization versus another using this process-level data? This note presents a methodology that combines tournament ranking and AHP approaches to create a ranking scheme that deals explicitly with missing data and ties in the tournament scheme.AHP, Benchmarking, Process Efficiency
Effective Call Center Management: Evidence from Financial Services
Call centers are quickly becoming the major point of contact for serving customers and generating new revenue in a variety of industries. No where is this growth in the importance of call centers more apparent than in the financial services industry. This paper presents the results of a survey of the management of call center operations at major financial service firms. The results clearly indicate the importance of human resource management practices and technology in creating high-performance call center environments.
Performance in Consumer Financial Services Organizations: Framework and Results from the Pilot Study
Financial services comprise over 4 percent of the gross domestic product of the United States and employ over 5.4 million people. By offering vehicles for investment of savings, extension of credit and risk management, they fuel the modern capitalistic society. While the essential functions performed by the organizations that make up the financial services industry have remained relatively constant over the past several decades, the structure of the industry has undergone dramatic change. Liberalized domestic regulation, intensified international competition, rapid innovations in new financial instruments and the explosive growth in information technology fuel this change. With this change has come increasing pressure on managers and workers to dramatically improve productivity and financial performance. This paper summarizes the first year of a multi-year effort to understand the drivers of performance in financial services organizations. Financial services are the largest single consumer of information technology in the economy, investing $38.7 billion dollars in 1991 (National Research Council, 1994). While this investment has had a profound effect on the structure of the industry and the products it provides, its effect on financial performance of the industry remains elusive. Why this "productivity paradox" (Brynjolfsson and Hitt,1993) exists is an important part of this project. The authors describe the differences in productivity in services from manufacturing. In the service world, the consumer co-produces the product with the firm, ofte nadding labor to the creation of the service. In addition, the scope of the service enterprise typically is quite vast, with components of the service production process being both producers and deliverers of the service. In addition, the quality of the services provided is forever changing. Thus, the authors suggest that productivity gains from human resource improvements or technology investments may not show up in standard performance measures, but may rather be used to improve the quality of the service provided. What appears to be a stagnation in productivity may actually be an increase in value delivered to the customer. Delivering value to the customer may provide the institution with sales opportunities and much needed information about the institution's customer base. The pilot survey conducted by the authors examines the relationship between technological advancement and the relational part of service delivery by studying time spent with the customer in relation to technological sophistication and time spent on the entire delivery process. The authors adopt the view that processes are the central "technology" of an organization. As with any technology, the process must be maintained. After a process has reached its useful life, it should be scrapped or rebuilt. Thus, the authors suggest that researchers should take a life-cycle view of processes when undertaking efficiency studies. The authors rely heavily on a process-oriented methodology in their analysis of performance drivers in financial services. The study does not focus on traditional measures of productivity or financial performance. Rather, the authors base comparisons on intermediary measures which evaluate the drivers of performance from the perspective of all participants in the co-productive process. This pilot study starts with consumer financial services and in particular, retail banking. The authors review the relevant literature on financial services performance and then propose a conceptual framework for the study. The framework assumes that industry conditions and firm strategy are given. The authors focus is to examine the components of performance that managers can affect, given a strategy and industry operating conditions. Thus, their initial focus is guided by their desire to direct attention to issues of implementation and their effects on performance. The authors attempt to bridge the gap between traditional productivity measures and difficult-to-measure financial performance by developing a set of value creation components as an intermediary set of performance indicators. Based on pilot interviews, these indicators reflect effective performance in ways that are more meaningful than the more traditionalmeasure of productivity, as they are the goals toward which bank management strives. The key values the study attempts to measure are customer convenience, precision, efficient cost structure, adaptability and market penetration. The survey conducted by the research team benchmarks two types of management decisions that are presumed to drive these outcomes. The first set of management choices are implementation choices, human resources choices, technology implementation processes and product/servicedelivery processes. The second set of choices relates to management infrastructure, resource management processes, the information architecture of the firm, the performance management and control systems and the organizational structure of the firm. Based on interviews and the work of previous productivity studies, the research team developed a pilot survey focused on the practices of the functional areas, business lines, product groups and the retail distribution network. The pilot measured the outcomes and choices made by managers in seven large commercial banks. The pilot results will lead to a large scale survey of practices for the entire retail banking sector. Based on early pilot results, the researchers concluded that managers in consumer financial services firms typically assume that improvement in one area of performance is largely at the expense of decreased performance in other areas. The authors believe this is only partly true. Based on the pilot results, the authors believe that better management practices can move outcomes in a number of areas simultaneously. Through effective process design, use of technology and management of human resources, institutions can improve performance in multiple categories. The successful financial services organizations will be those which find processes and practices that enhance multiple measures of performance. The results of the large scale survey of practices will be available in early 1996.
Inside the Black Box: What Makes a Bank Efficient?
A decade of econometric research has shown that X-efficiency dominates scale and scope as the drivers of inefficiency in the U.S. banking industry. However, this research falls short in explaining the causes of the high degree of X-efficiency in the industry. This paper summarizes a four-year research effort to understand the drivers of this inefficiency. Key findings from this research, based on the most comprehensive studies to date of management practices in the retail banking industry, give insight into the drivers of X-efficiency. The paper provides a comprehensive framework for the analysis of X-efficiency in financial services. This paper was presented at the Wharton Financial Institutions Center's conference onRetail Banking, Services, Efficiency, Technology Management, Human Resource Management
Applying the Instructional Beliefs Model to Training and Development Research and Practice
In 2011, Weber, Martin, and Myers introduced an innovative instructional model to more fully understand student outcomes within the classroom: the Instructional Beliefs Model (IBM). Results from this seminal article provided support to suggest that the IBM was a better predictor of student outcomes than previous models. Since its inception, this model has guided and informed subsequent instructional research (e.g., Goodboy & Frisby, 2014; Johnson & LaBelle, 2015; LaBelle, Martin, & Weber, 2013). While clearly applicable in the university classroom, the theoretical relationships outlined by the IBM offer transferability to additional instructional contexts: namely, training and development. Notably, there is limited visibility of empirical training and development research in communication scholarship (e.g., Stephens & Mottet, 2009), and a majority of investigations rely on case studies or needs assessment (e.g., Lucier, 2008) to forward knowledge claims. However, if the discipline is truly committed to expanding knowledge of communication within training, applicable in both academic and organizational contexts, scholars should pursue more theoretically and empirically driven research. As such, the IBM has potential to serve as an instrumental resource in forwarding more generalizable findings in training communication research. Thus, the purpose of the present explication and extension of this model is to highlight the shortcomings and strengths of applying the IBM to training and development. First, several major preceding instructional models are outlined. Second, the assumptions and tenets of the IBM are discussed at length. Throughout this overview, the theoretical underpinnings of the relationships outlined in the model, along with conceptual and operational implications for applying the IBM to a training context, are explored
The confined-deconfined interface tension, wetting, and the spectrum of the transfer matrix
The reduced tension of the interface between the confined and
the deconfined phase of pure gauge theory is determined from numerical
simulations of the first transfer matrix eigenvalues. At we find
for . The interfaces show universal
behavior because the deconfined-deconfined interfaces are completely wet by the
confined phase. The critical exponents of complete wetting follow from the
analytic interface solutions of a -symmetric model in three
dimensions. We find numerical evidence that the confined-deconfined interface
is rough.Comment: Talk presented at the International Conference on Lattice Field
Theory, Lattice 92, to be published in the proceedings, 4 pages, 4 figures,
figures 2,3,4 appended as postscript files, figure 1 not available as a
postscript file but identical with figure 2 of Nucl. Phys. B372 (1992) 703,
special style file espcrc2.sty required (available from hep-lat), BUTP-92/4
Analysis and correction of the magnetic field effects in the Hybrid Photo-Detectors of the RICH2 Ring Imaging Cherenkov detector of LHCb
The Ring Imaging Cherenkov detectors of the LHCb experiment at the Large
Hadron Collider at CERN are equipped with Hybrid Photo-Detectors. These vacuum
photo-detectors are affected by the stray magnetic field of the LHCb magnet,
which degrades their imaging properties. This effect increases the error on the
Cherenkov angle measurement and would reduce the particle identification
capabilities of LHCb. A system has been developed for the RICH2 Ring Imaging
Cherenkov detector to perform a detailed characterisation of the magnetic
distortion effects. It is described, along with the methods implemented to
correct for these effects, restoring the optimal resolution.Comment: 16 pages, 11 figure
Management der oberen Atemwege beim spontan atmenden Kind: Eine Herausforderung für den Anästhesisten
Zusammenfassung: Partielle und totale Atemwegsobstruktionen treten bei spontan atmenden, bewusstlosen oder anästhesierten Kindern häufig auf und können eine adäquate Sauerstoffversorgung gefährden. Das Offenhalten der oberen Atemwege ist daher die wichtigste und effektivste Maßnahme in dieser Situation: Kinn hochheben ("chin lift"), Unterkiefer nach vorne verschieben ("jaw thrust", Esmarch-Handgriff) und kontinuierlich positiver Atemwegsdruck ("continuous positive airway pressure", CPAP) öffnen nachgewiesenermaßen den Atemweg. Neben diesen einfachen Atemwegsmanövern führen auch verschiedene Lagerungstechniken (Seitenlage oder Rückenlage unter Einnahme der "Schnüffelposition") zu einer besseren Öffnung und Stabilität des oberen Atemweg
- …