Purpose – Growth optimism, which describes the expected future growth of a firm, is an important but underexplored construct in strategy. This paper aims to assess the planning antecedents of such growth optimism by using a large Australian sample of small enterprises.

Design/methodology/approach – The authors use a secondary data set, gathered among Australian small to medium enterprises (SMEs), by the Australian Bureau of Statistics (ABS). The analysis adopts a regression approach including a mediated and a non-mediated path to explore the direct and indirect effects of strategic planning and budgetary planning and management on expected future revenues.

Findings – This paper assesses the implications of concurrent strategic planning and financial management dynamic capabilities on anticipated future revenue growth, an important predisposition dynamic capability. The authors note that this configuration of actions and predisposition aligns closely with the necessary requirements for growth. The findings suggest that firms that use strategic planning and robust budget planning and monitoring processes exhibit higher optimism about future sales growth and firms that effectively configure these planning activities with market development tend to exhibit higher growth and more growth optimism.

Research limitations/implications – In terms of theoretical contributions, the paper strongly supports the formality view in the formal/informal debates associated with effectuation strategies. The authors suggest that appropriate strategic and budgetary planning and control systems act as a counterbalance to organisational confusion and managerial capriciousness, leading to improved confidence among managers and their employees regarding future resource commitments and plans.

Practical implications – The Findings of the paper are potentially important for both managers and policy makers. For managers seeking to grow their future sales, planning is shown to be an important antecedent activity. The presence of financial and strategic planning may predispose firms to make important investment decisions that drive future growth. Also, a better understanding of the firm’s current and future strategic and financial position may be evidence of effective firm management, a situation that, in turn, drives growth.

Social implications – In terms of social and policy implications, the data gathered for the survey by the ABS forms a valuable collection of information in relation to business practices. Australian firms are required by law to regularly report budget plans and outcomes. The research suggests that this data can inform policy initiatives, particularly in relation to programmes that may assist small and young firms to undertake prospective strategic and budgetary planning.

Originality/value – To the best of the authors’ knowledge, this is the first paper to investigate the particular configuration of strategic and financial planning and anticipated sales growth in the SME context.

Purpose – In this paper, the authors will examine Welch's legacy and aftermaths, both for GE and more broadly within management practice and academic thought. As a complex character, indeed a person of many contradictions, the authors try to avoid polemics in this, instead focusing on his accomplishments and the unanswered questions about his impact.

Design/methodology/approach – This paper is a historical case using secondary and published materials to assess the case of Jack Welch's leadership of General Electric over the period 1981–2001.

Findings – Welch's proponents suggest he emphasized controlling corporate destiny, being open to new ideas, pursuing quality and low cost, having confidence, a vision founded on reality, a global focus and possessing energy and enthusiasm. However, his short-termist perspective undermined the long-term success of the company and his "win at any cost" mantra predisposed some employees to cutting ethical or environmental corners. As the market capitalization gains evaporated that had been used to justify the "end justifies the means" rationale, little is left of his legacy.

Research limitations/implications – The paper discusses the implications of the GE case for issues associated with corporate governance, financialization and human resource management.

Originality/value – This is a timely reconsideration of the Jack Welch legacy two years after his death. In avoiding polemics and seeking a considered assessment of his positive and negative outcomes, the paper is an important addition to the research on Welch and American management thought.

Purpose: This case study examines Marriott Corporation's large and successful spinoff between 1993 and 1995 and the concomitant adoption of a corporate ALFO strategy enabled by the transfer of assets and debt between the two entities. As an example of corporate restructuring, it involves changing ownership, operational structure, or business activities within a corporation in order to improve shareholder performance.
Methods: Key directional changes in Marriott's history that have changed the structure of the business is used to examine the spinoff and ALFO strategy adaptation.
Results: Marriot have been characterised by a small number of significant and foresightful innovations. There was a great deal of importance attached to the company's move away from food service and towards accommodation in the future. During the early stages of the company's existence, the company was located near Marriott's Bethesda headquarters and was headed by the founder's oldest son. There is no doubt that these investments have been probing in nature in the recent past, but they are significant in terms of scale and commitment in the future.
Implications: Marriott's success can be attributed to the fact that the company has a flexible corporate strategy that focuses on high growth and high yield business opportunities, as well as the willingness to dispose of assets that don't provide this outcome. As a result of this focus, the company was able to grow globally from the 1990s onwards. Ultimately, it can be said that the company's success can be attributed to the fact that it has adapted appropriately and successfully to changing operational and industry realities over the course of many decades, especially as exigencies in the asset and debt markets rendered the portfolio structure it had developed over so many decades unsustainable.

Purpose – This paper investigates the moderating role of values congruence, an element of person–organisation (P–O) fit, on the relationship between intrinsic work satisfaction and anticipated employee turnover. The model uses data from employees of the Australian Public Service (APS).

Design/methodology/approach – The study draws upon data from the APS’s annual Employee Census for 2018. We first use principal component analysis (PCA) to derive measures of collegial values congruence, managerial values congruence, intrinsic satisfaction and extrinsic satisfaction. The study then uses ordinary least squares (OLS) regression analysis to examine the main effects of intrinsic and extrinsic satisfaction, collegial and managerial values congruence as well as their interaction effects on anticipated future employee tenure.

Findings – Our results show the significant linear effects of intrinsic satisfaction, extrinsic satisfaction and managerial values congruence on anticipated tenure. Collegial values congruence, however, did not show a significant linear effect. Interaction effects were then tested, and both collegial and managerial values congruence were shown to moderate the relationship between intrinsic satisfaction and anticipated tenure. Higher levels of both forms of values congruence buffered the negative impact of lower intrinsic satisfaction on turnover intention.

Research limitations/implications – The study is limited by its reliance on cross-sectional self-reported data within a specific and atypical organisational context (the Australian Public Service, or APS). Additionally, the cross-sectional nature of the data limits the establishment of causal inferences. Future research could explore longitudinal data and examine other potential moderators of the turnover intention.

Practical implications – Understanding the moderating role of values congruence, and in particular P–O fit, can develop organisational strategies that aim to reduce turnover by emphasizing the alignment between employee values and organisational, collegial and supervisor culture and values.

Originality/value – This study contributes to the relevant literature by showing the importance of values congruence in partially offsetting the negative effects of low intrinsic satisfaction on anticipated turnover. This is particularly relevant in the public sector context. The examination of both collegial and managerial values congruence provides a more nuanced understanding of the mechanisms that drive turnover intention.

Purpose - Demographic changes involving a worldwide ageing population and later retirements produce a gradual ageing of the workforce and major concerns about how ageing may influence the workplace. This paper aims to provide evidence relating to older workers in healthcare settings in Australia.

Design/methodology/approach - Using a secondary quantitative dataset, the authors sub-sampled a group of workers in the healthcare sector. We used linear regression arrangement with hypotheses focused on the assessment of the significance of interaction or moderation effects relating to job characteristics and age on employee satisfaction.

Findings - The authors note that older workers' job satisfaction is negatively influenced by poor perceptions of job security and autonomy in how their work is carried out. Ensuring that older workers stay in the healthcare workforce is imperative as the work force ages. This paper shows that managing their job security and offering them work autonomy enhance their job satisfaction.

Research limitations/implications - The use of a secondary and cross-sectional dataset has some limitations relating to endogeneity, although these have been managed and assessed. The paper is based on a representative sample of Australian workers, and is thus generalisable within the Australian context, and will be informative elsewhere.

Practical implications - The focus on elements of flexibility for older workers (enhanced autonomy) and clearer job security elements is of practical relevance in the management of older workers.

Social implications - As the overall population ages, supporting older workers in their careers will be of increasing importance. In sectors with a disproportionate share of older workers, like health care, this imperative will come sooner, and the benefits of getting arrangements right be will higher.

Originality/value - No other paper has explored these specific relationships empirically that the authors are aware of. This work is original in terms of its assessment of questions of what second-order effects exist in predicting employee satisfaction among older workers.