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We find that the Campbell–Cochrane external-habit model can generate a value premium if the persistence of the consumption surplus is sufficiently low. Such low persistence is supported by micro evidence on consumption. If the mean and conditional volatility of consumption growth are highly persistent, as in the Bansal–Yaron long-run risk model, then fast-moving habit can also generate, without eroding the value premium: i) empirically sensible long horizon return predictability; and ii) a price–dividend ratio for market equity that exhibits the high autocorrelation found in the data. Fast-moving habit also delivers several empirical properties of market-dividend strips.
Arthur undertook the initial research between 2009 and 2014 looking at how managers, at a pivotal part of their career, learnt about leadership. Arthur's thesis, entitled ‘How Middle Managers Learn about Leadership’, originally looked at managers in transit from the purer forms of administration and management to work in which there are more responsibilities and a real expectation of an understanding of the different (and complex) elements of leadership and more responsive management. Moreover, as part of this Doctorate of Business Administration (DBA), Arthur came across an emergent theme of creativity (alternative ways of engaging in learning and development) which persistently came into view and Arthur began to notice these alternative ways of learning for adults which he started to use in his own practice as an executive coach. These creative techniques have included the use of walking, the additions and deployment of mediating objects and the use of narrative and a focus on metaphors. During the research period, Arthur took a basically Social constructionist approach to the collecting of data and utilized the philosophy of phenomenology to observe what emerged from his observations of 75 participants (in various ‘middle-management’ positions) undertaking an Institute of Leadership and Management Level 5 Leadership course. In order to do that Arthur (and his very supportive colleagues) utilized a number of creative techniques of data collection and developed several unusual approaches of facilitation and working one-to-one throughout the initial 18 months of inquiry between 2010 and 2012.
These research techniques were deployed with three consecutive cohorts working in the Brecon Beacons in South Wales/De Cymru.
1. The philosophical idea of phenomenological bracketing (and accompanying challenging activities) whilst observing participants as they experience the realisation that what they are learning is not necessarily clear, obvious or linear in nature
2. A silent reflective space provided by being in an area of natural beauty
3. Walking as a means of supporting adult learning
4. The use of a freely available reflective video booth
5. The use of space, place and pace as ‘marker’ for design of interventions (for more detailed explanation of this, see Critical Leadership Heneberry, Turner and Pardey, 2019)
Between 2014 and the current time Arthur has been broadening his conceptual ideas around creativity in coaching practice and adult learning.
This chapter looks at techniques and ideas of creative coaching in more detail. The reader will have more ideas on how to become a successful musical coach.
Use of music with coaching clients or as part of the development of alternative coaching approaches, along with other topics in this book, such as walking coaching and mediating objects, is a little explored topic. In this chapter I explore a number of interrelated subjects that have been encountered such as music theory, jazz improvisation, duets and the use of musical interludes in both the training of coaching and the use of music within a coaching session. I will look at exercises that have worked in both coaching development programmes and recently with music-related approaches. I will also make links between theories of how the brain works and its connections with human emotions and the ways in which music can help to enhance engagement, build rapport, promote deeper thought and add to the growing field of creative coaching interventions.
This chapter provokes thinking, rethinking and reflection on the use of music in understanding the coaching process, linking to the co-emotional aspects of working with the challenges of personal development as well as giving some practical examples of types of music that could induce different client interactions
Previous chapters have focused on walking, use of silence and the use of historical and contemporary finger puppets (Turner, 2016: Turner, 2017: Turner, 2019a). These papers reflect my overall interest in creative techniques of learning within coaching relationships summed up in my 2019 article published by the Institute of Leadership and Management (Turner, 2019b). All these topics can be considered as sitting outside of the coaching mainstream with the articles examining, in detail, the complex creative theories and models emanating from neuroscience and psychology (Seto and Geithner, 2018). In addition, this chapter does reflect an interest in psychological and creative aspects of the coaching process (Cavanagh and Lane, 2012). In particular this chapter ponders on the early aspects of the coaching ‘life cycle’ (Clutterbuck and Lane, 2004) such as building rapport and linking to the emotions involved in the stimulation and curiosity of the client's mind and their own executive behaviours.
Further exploration of this topic has been recorded in the University of the West of England 2023 ‘Spotlight’ series of podcasts.
(Turner and Norris, 2022, 2023)
This is one of the least explored of coaching topics but is centred on some of the very real factors that separate humans from other primates. The ways in which we can utilize humour in our practice and can, as humans, be induced to be playful, experimental and ‘lighten’ in our approaches suggests that this topic is important in the work undertaken between two people through medium of coaching.
Over a decade ago, with my original research into the development of leadership in organizations, I started to discover the role play (although I couched it in slightly different terms believing the creativity and sets of different exercises and the use of objects was important) and playfulness have on the acquisition of new skills and ideas.
Here is an extract from my original thesis which highlights the use of artefacts and the ways in which playful stimuli can be introduced into formal developmental interventions.
Setting a less formal atmosphere to the formality of a workshop reminded me of the playfulness of humans and how the creation of a relaxed atmosphere allowed for and encouraged the group to be a little more playful.
(Kark 2011)
Our original starting point was the work of Schein (2004) and his definition of artefacts in organisations, where artefacts can include any tangible, overt or verbally identifiable elements in an organization. Architecture, furniture, dress code, office jokes, all exemplifies organizational artefacts. Artefacts then are the visible elements in a culture and they can be recognized by people not part of the culture.
(Schein 2004)
We felt that using organisational artefacts in a development setting was already too charged with meaning that stemmed from organisational life (Engstrom and Blackler 2005), with the result that organisational artefacts might then be limited in their use to provoke or promote reflection.
Second, we were influenced by Michael Reynolds's (1999) ideas of critical reflection in management education that suggested to us the need to craft programmes that had radical content and radical process.
This article examines the under-researched, inter-connected issues of substantive remedy and a role for Organization for Economic Cooperation and Development (OECD) National Contact Points (NCPs) to complement judicial remedy regimes involving civil liability for companies in home-state jurisdictions. Even where access to judicial procedural remedy exists, it need not ensure substantive remedy. Legal and economic resource-based power-disparities between parties can reduce victims’ opportunities to present and argue their case; and courts offer limited substantive remedy options compared with the types listed by the United Nations Guiding Principles on Business and Human Rights. The article argues that combining access to NCPs and judicial remedy offers important opportunities to address well-recognized challenges for victims’ access to substantive remedy, especially with strong NCPs. NCPs can operate in ways that courts normally cannot, to help give victims voice and a choice of substantive outcome. The European Union’s Corporate Sustainability Due Diligence Directive (CSDDD) proposal serves as a cue for the analysis. However, the issue is relevant for any OECD member or the OECD Guidelines adherent state.
I have been writing about the use of finger puppets for the past six years, based largely in the context of leadership development, group work and classroom sessions with colleagues in the field of executive coaching. More recently (Turner and Kempster, 2022), a recorded podcast has explored the use of finger puppets in the broader context of playfulness in leadership development. This development work has led to their use in one-to-one coaching (see Kempster et al., 2014, Turner, 2016). The use of these specific artefacts is discussed in this chapter and fits in well with the more general idea of creativity (Page et al., 2013), in general, in and around the evolving coaching relationship (Maisel, 2020).
The use of puppets is an unusual technique and represents a more keenly aesthetic and experimental approach to coaching practice and fits in with the whole idea of arming the coach with tools in the spirit of experiential variety (Nelson, Zaccoro and Herman 2010). That (arming the coach with tools) is the notion of an executive coach who utilizes a wide range of approaches and techniques in which to engage their clients to elicit reflection. In their use the puppets are a humanistic rather than a mechanical concept and is one of those tools that edges the coach towards the coaching maturity that David Clutterbuck has underlined in a move away from linear, model-focused coaching (Lowe, 2021, Clutterbuck and Megginson, 2011).
This approach of using types of finger puppets was partly the start but also the continuous thread in my investigation about coaching practice that has led to looking beyond models, official approaches and more structured instructions on ‘how-to-do-coaching’ to a more dynamic and emergent style that depends on techniques and props. The use of finger puppets is an age-old human tradition that acts as a catalyst for change in human behaviour and thinking.
Although there are many finger puppets on the market, mainly aimed at children, the finger puppets I have been using come from two sources. The basic idea is a simple one. The puppets are small enough to fit on an index finger (although there is no reason (other than bulk) to using hand-puppets, or puppets on strings, although I have never tried string-puppets as a technique).
Individual firms have become the dominant lobby actors in the European Union, while associational business interest representation has declined. This is alarming because individual firms tend to overlook the long-term interests of society by focusing on what is important in the short term for their own survival. How can we explain this trend? This article argues that globalization is a key driver of firm-level lobbying and that it fractures business interest representation. The study employs an original dataset of almost 14,000 lobby contacts between senior staff of the European Commission, business interests, and NGOs. It finds support for the argument that globalization spurs individual firm lobbying in the European Union. This complicates the already challenging task of business associations aggregating and channeling the interests of their members.
Organized immaturity, the reduction of individual capacities for public use of reason constrained by sociotechnological systems, constitutes a significant pushback against the project of Enlightenment. Forms of immaturity have long been a concern for philosophers and social theorists, such as Kant, Arendt, Fromm, Marcuse, and Foucault. Recently, Zuboff’s concept of “surveillance capitalism” describes how advancements in digital technologies lead to new, increasingly sophisticated forms of organized immaturity in democratic societies. We discuss how sociotechnological systems initially designed to meet human needs can inhibit the multidimensional development of individuals as mature citizens. To counteract these trends, we suggest two mechanisms: disorganizing immaturity as a way to safeguard individuals’ and collectives’ negative freedoms (freedoms from), and organizing maturity as a way to strengthen positive freedoms (freedoms to). Finally, we provide an outlook on the five further articles that constitute the Business Ethics Quarterly Special Issue “Sociotechnological Conditions of Organized Immaturity in the Twenty-First Century.”