E&M
2023/1
Contents
![](https://digitalibri.egeaonline.it/getImage.php?id=28965&w=318&h=464&c=0&co=1&f=0&t=0&.jpg)
Editorial
Dossier. China: So Close Yet So Far
The Internationalization of the Chinese Currency
The Magic Circle of Xi Jinping
The US Strategy to Contain Beijing
Risks and Opportunities for Italian Businesses
The New Silk Road. One, None and a Hundred Thousand
Multicultural Leadership as a Lever for Success
Doing Business in China: The Case of Brembo
Focus. Small and Medium Enterprises: Challenges for the Future
SMEs and Continuity of Success in the New Scenarios of Competition
A Complex Three Years that Bring Problems and Opportunities
Facing the New Normal: Skills, Resources, and Leadership
The Four Strategies to Promote Sustainable Practices
Diversity Management: An Extensive Terrain Still to Be Explored
Mergers & Acquisitions
Management and the Board: A Crucial Relationship in M&A Operations
Internationalization
Administration & Control
Organization & People Management
Smart Work, the South, and Internal Areas for Local Development
Strategy and Entrepreneurship
From Recycling to Redesign: The Challenge of the Circular Economy
High Uncontrollability: Goals, Performance, and Incentives
According to the principle of controllability, a manager is responsible only for what happens under their direct control. This principle allows for distinguishing the results of managerial decisions from the effects of other uncontrollable variables on business results. Although the use of the principle of controllability can have multiple benefits – in particular, it should guarantee evaluations not corrupted by exogenous variables over which managers have no power of control – in some situations even a measure that suffers from uncontrollable factors can provide important information for the purpose of evaluating managerial performance. An empirical analysis of the companies in the Russell 3000 index in situations of high unpredictability – as in the case of the Covid-19 pandemic – shows that companies tend to apply the principle of controllability in a flexible rather than rigid manner, adjusting business goals, monitoring of results, and managers’ compensation.