|Up a level|
During the 1980s and 1990s, Richard Normann and his colleagues developed an original approach to strategy, based on seeing value as inherently co-produced in systems. Their 'Value Creating Systems' approach was a strong contrast to the idea of 'competitive advantage' that defined strategy at the time. The approach focuses on the design of the 'offerings' that define relationships among co-producers, and which connect actors in fields which transcend traditional industry borders. In the contemporary networked world, where consumers become co-producers, the ideas Normann and his colleagues developed towards strategy are uniquely effective in explaining and guiding practice.
Strategy for a Networked World revisits and further develops these ideas. It is co-authored by two long-standing colleagues of Normann, Rafael Ramírez and Ulf Mannervik, who have successfully applied these ideas in their own consultancy practice. This book provides the theoretical basis for strategies of value co-creation, an accessible methodology and practical guidance, cases such as Facebook and The World Economic Forum, and examples of successful collaborations with organisations as EDF, Scania, SCA and Shell.
Designed to advise strategists and business developers working in uncertain complex and turbulent contexts, it is suitable both for practitioners and for academics, combining both theory and the means to turn it into practice. It will also serve as a valuable contribution to MBA classes and the development of more effective business strategies.
The financial crisis of 2007-9 revealed serious failings in the regulation of financial institutions and markets. Prompting a fundamental reconsideration of the design of financial regulation, the financial system has become ever-more complex and interconnected, and the pace of evolution continues to accelerate. It is now clear that regulation must focus on the financial system as a whole, but this poses significant challenges for regulators. Principles of Financial Regulation describes how to address those challenges.
Examining the subject from a holistic and multidisciplinary perspective, Principles of Financial Regulation considers the underlying policies and the objectives of regulation by drawing on economics, finance, and law methodologies. The volume examines regulation in a purposive and dynamic way by framing the book in terms of what the financial system does, rather than what financial regulation is. By analysing specific regulatory measures, the book provides readers to the opportunity to assess regulatory choices on specific policy issues and encourages critical reflection on the design of regulation.
The retail industry globally is in the early stages of an era of profound, perhaps unprecedented, change. This book is intended to serve as a robust and practical guide to leaders of enterprises tasked with both understanding and delivering success in the new landscape of retailing.
The book firstly describes the major directions and drivers of change that define the new global landscape of retailing (Part 1). Accelerating technology change, the rise to prominence globally of internet enabled shoppers and the rapid emergence of entirely new retail enterprises and business models are combining to re-shape the very fundamentals of the retail industry. No longer are shops needed to be in the business of retailing. No longer is choice for the shopper limited to the neighbourhood, town or even country in which they live. No longer is the act of retailing solely the preserve of traditional retail enterprises as internet-enabled businesses, technology, logistics, suppliers and financial services enterprises all seek direct relationships with the shopper.
The new landscape of retailing is an unforgiving one. Success can be achieved more quickly than has ever been possible before but failure is equally rapid. The opportunities in the new landscape of retailing are profound, but so too are the challenges. Part 2 of this book discusses the structures, skills and capabilities retail enterprises will need if they are to be successful in this new landscape and the skills and perspectives that will be required of the leaders of retail enterprises.
Case studies of innovative and successful enterprises are presented throughout the book to illustrate the themes discussed. Frameworks are presented to provide practical guidance for enterprise leaders to understand and contextualise the nature of change that is re-shaping retail landscapes globally. Clear guidance is given of the capabilities, skills and perspectives that will be needed at both an enterprise and a personal leadership level to deliver success in the new landscape of retailing.
Traditional strategy assumes stability and predictability. Today's world is better characterised by turbulence, uncertainty, novelty and ambiguity - conditions that contribute disruptive changes and trigger the search for new ways of coping.
This book aims to become the premier guide on how to do scenario planning to support strategy and public policy. Co-authored by three experts in the field, the book presents The Oxford Scenario Planning Approach (OSPA). The approach is both intellectually rigorous and practical. Methodological choices and theoretical aspects in practice are detailed in reference to the relevant literatures and grounded in 6 case studies the authors have been involved with.
The book makes several contributions to the field, centred on how learning with scenario planning is supported by re-framing and re-perception; how this iterative process can be embedded in corporate or government settings, and how it helps those that it supports to do well in today's world.
The book is written in an accessible style and will be a useful introductory text as well as a useful guide for the more experienced scenario planning practitioner and scholar.
This is the Fifth Edition of what has become a standard bestselling text on the tools, systems, and principles of Lean Manufacturing and Lean Operations. The Lean Toolbox covers Lean Philosophy, The Science of Lean, Improvement, Change, Strategy, Flow, Mapping, Scheduling, Layout, Quality, Product Development, Supply Chain, Lean Accounting, and Lean beyond the factory floor. It is aimed at managers and practitioners. Previous editions were known for their concise style and wide coverage. Over 110,000 copies of the previous editions were sold. The last edition was recommended by APICS for their International CPIM (Certified in Production and Operations Management) examinations. The book is prescribed by several universities in UK, USA, Denmark. The 4th edition remained on Amazon.co.uk's top 10 on manufacturing for 5 years. This is a complete revision and update including 40 additional pages.
Crisis, Resilience and Survival charts the evolution of the global automotive industry, revealing the pressures and challenges facing firms in this huge but turbulent realm of business. Long-term overcapacity and swings of the economic cycle mean that many car companies are in financially perilous positions. Yet failures of auto companies are rare, and many have bounced back from the brink. Using the concept of the 'survival envelope', Holweg and Oliver argue that the ability to design, develop, manufacture and distribute vehicles competitively is not the only factor in ensuring success. Using detailed analyses of two failures (Rover and Saab) and two near-misses (Chrysler and Nissan) they explore how scale, market reach and supportive stakeholder relations can make the difference between success and failure in this global industry. This book will appeal to anyone working in, or studying the auto industry, as well as those interested in corporate success and failure.
What does it mean when consumers “shop with a conscience” and choose products labeled as fair or sustainable? Does this translate into meaningful changes in global production processes? To what extent are voluntary standards implemented and enforced, and can they really govern global industries? Looking behind the Label presents an informative introduction to global production and ethical consumption, tracing the links between consumers' choices and the practices of multinational producers and retailers. Case studies of several types of products—wood and paper, food, apparel and footwear, and electronics—are used to reveal what lies behind voluntary rules and to critique predominant assumptions about ethical consumption as a form of political expression.
This book focuses on supply chain management in emerging markets. The authors present issues relating to supply chain development covering countries such as Brazil, China, the Czech Republic, Russia, Indonesia, Malaysia, Nepal, Turkey, Egypt and South Africa, and focuses on the challenges faced when the supply chain is designed and maintained. Such challenges derive from issues to do with risk, security, quality management and, infrastructure among others. Case studies and survey results are presented in chapters which explore practical solutions to these issues. The latter will be of interest not only to local and international managers, but also to students who are interested in emerging economies. The book covers manufacturing, retail and food chains at the local and international levels.
Megaproject Planning and Management: Essential Readings contains the seminal articles from the growing body of research on megaproject planning and management along with an original introduction by the editor, Bent Flyvbjerg. The leading and most cited authority in the field, Flyvbjerg has used crowdsourcing and 25 years of experience to cherry-pick from several hundred articles and books the writings that define the field. This volume will be an indispensable source for those wishing to speak with authority about how megaprojects are prepared, delivered, and fought over. The target audience is students, academics, practitioners, and media pundits alike, as well as communities affected by megaprojects.
Many developing countries find it difficult to raise the revenue required to provide such basic public services as education, health care, and infrastructure. Complicating the policy challenges of taxation in developing countries are issues that most developed countries do not face, including widespread corruption, tax evasion and tax avoidance, and ineffective political structures. In this volume, experts investigate crucial challenges confronted by developing countries in raising revenue. After a comprehensive and insightful overview, each chapter uses modern empirical methods to study a single critical issue essential to understanding the effects of taxes on development. Topics addressed include the effect of taxation on foreign direct investment; forms of corruption, tax evasion, and tax avoidance that are specific to developing countries; and issues related to political structure, including the negative effects of fiscal decentralization on the effectiveness of developmental aid and the relationship between democracy and taxation in Asian, Latin American, and European Union countries that have recently experienced both political and economic transitions.
This book is the only in-depth analysis of VAT to focus on exemptions as a whole. Ten chapters – by economists, lawyers, legal academics, and government tax advisors from a wide variety of jurisdictions – grapple with the essential questions: Are VAT exemptions desirable? Are they avoidable? Are alternative legal designs possible? Are such alternatives necessary? What new problems do such designs give rise to? The authors emphasize in particular the design alternatives to exemptions that characterize ‘modern’ VAT and the newly proposed ‘post-modern’ VAT, both those that are already in operation in some countries and others that have not yet been attempted anywhere in the world.
The corporation is one of the most important and remarkable institutions in the world. It affects all our lives continuously. It feeds, entertains, houses and, employs us. It generates vast amounts of revenue for those who own it and it invests a substantial proportion of the wealth that we possess. But the corporation is also the cause of immense problems and suffering, a source of poverty and pollution, and its failures are increasing. How is the corporation failing us? Why is it happening? What should we do to restore trust in it? While governments are subject to repeated questioning and scrutiny, the corporation receives relatively little attention.
Firm Commitment provides a lucid and insightful account of the role of the corporation in modern society and explains why its problems are growing. It gives a fresh perspective on the crises in financial markets, developing countries, and the environment. Based on decades of analysis and research, it describes a new approach to thinking about the firm which not only stops it destroying us but turns it into the means of protecting our environment, addressing social problems, and creating new sources of entrepreneurship and innovation. It sets out an agenda for converting the corporation into a twenty-first century organization that we will value and trust. It takes you on a journey that starts in the Galapagos, ends in Ancient Egypt, and in the process brings you to a new level of appreciation of the economic world we inhabit.
This book sheds light on the consumption of spiritual products, services, experiences, and places through state-of-the-art studies by leading and emerging scholars in interpretive consumer research, marketing, sociology, anthropology, cultural, and religious studies. The collection brings together fresh views and scholarship on a cultural tension that is at the centre of the lives of countless individuals living in postmodern societies: the relationship between the material and the spiritual, the sacred and the profane.
The book examines how a variety of agents – religious institutions, spiritual leaders, marketers and consumers – interact and co-create spiritual meanings in a post-disenchanted society that has been defined as a ‘supermarket of the soul.’ Consumption and Spirituality examines not only religious organizations, but also brands and marketers and the way they infuse their products, services and experiences with spiritual meanings that flow freely in the circuit of culture and can be appropriated by consumers even without purchase acts. From a consumer perspective, the book investigates how spiritual beliefs, practices, and experiences are now embedded into a global consumer culture. Rather than condemning consumption, the chapters in this book highlight consumers’ agency and the creative processes through which authentic spiritual meanings are co-created from a variety of sources, local and global, and sacred and profane alike.
Process, Sensemaking, and Organizing is the first in a series of volumes which explore perspectives on process theories, an emerging approach to the study of organizations that focuses on (understanding) activities, interactions, and change as essential properties of organizations rather than structures and state - an approach which prioritizes activity over product, change over persistence, novelty over continuity, and expression over determination.
Process and sensemaking may be seen as mutually interlocking phenomena and, as such, are cornerstones in process thinking, This volume brings together contributions from an international group of scholars energized by process organization studies. The collection offers perspectives from different disciplines, insights from diverse theoretical traditions and contexts, and parallels made with a range of cultural forms, including art, poetry, and cookery. At the same time, the chapters exhibit a clear emphasis on a process ontology, process theorizing, and narrative thinking. Across this rich and varied collection recurrent themes emerge that distinguish process theorizing from the more logico-scientific, variance-oriented research that dominates organization studies today. This book will appeal to academics, researchers, and graduate students in management, organization studies, and sociology who wish to better understand the emergent, changing, and flow-like character of organizational life and expand their understanding of the nature of sensemaking as a basis for organizing.
Real Social Science presents a new, hands-on approach to social inquiry. The theoretical and methodological ideas behind the book, inspired by Aristotelian phronesis, represent an original perspective within the social sciences, and this volume gives readers for the first time a set of studies exemplifying what applied phronesis looks like in practice. The reflexive analysis of values and power gives new meaning to the impact of research on policy and practice. Real Social Science is a major step forward in a novel and thriving field of research. This book will benefit scholars, researchers and students who want to make a difference in practice, not just in the academy. Its message will make it essential reading for students and academics across the social sciences.
The achievement of financial stability is one of the most pressing issues today. This timely and innovative book provides an analytical framework to assess financial (in)stability as an equilibrium phenomenon compatible with the orderly functioning of a modern market economy.
The maintenance of financial stability is a key objective of monetary policy, but the record of regulators in achieving this has been lamentable in recent years. This failure has been matched by an equivalent inability to establish an appropriate theoretical basis for financial regulation. In this book, the authors demonstrate how to enhance the theory, modelling and practice of such regulation.
Focusing on social innovation broadly conceived in the context of social entrepreneurship and social enterprise in their global context this book is organised to address three of the most important themes in social innovation: strategies and logics, performance measurement and governance and finally sustainability and the environment.
This book focuses on the need to develop sustainable supply chains - economically, environmentally and socially.This book is not about a wish list of impractical choices, but the reality of decisions faced by all those involved in supply chain management today.Our definition of sustainable supply chains is not restricted to so-called "green" supply chains, but recognises that in order to be truly sustainable, supply chains must operate within a realistic financial structure, as well as contribute value to our society. Supply chains are not sustainable unless they are realistically funded and valued. Thus, a real definition of sustainable supply chain management must take account of all relevant economic, social and environmental issues.This book contains examples from a wide range of real-life case studies, and synthesizes the learnings from these many different situations to provide the fundamental building blocks at the centre of successful logistics and supply chain management.
The Modernisation of Public Services and Employee Relations provides an integrated and up-to-date account of changes in work and employment in the public services. The book examines a range of different sectors focusing on core public services, especially local government, the NHS and the civil service.
The Court of Justice has been alluding to 'abuse and abusive practices', but for a long time the significance of these references has been unclear. This book discusses the development of the Court's approach to abuse of law across the whole spectrum of European Union law, analysing the case-law from the 1970s to this day.
The world is increasingly turbulent and complex, awash with disruptions, tipping points and knock-on effects exemplified by the implosion of financial markets and economies around the globe.
This book is for business and organizational leaders who want and need to think through how best to deal with increasing turbulence, and with the complexity and uncertainty that come with it. The authors explain in clear language how future orientation and, specifically, modern scenario techniques help to address these conditions. They draw on examples from a wide variety of international settings and circumstances including large corporations, inter-governmental organizations, small firms and municipalities. Readers will be inspired to try out scenario approaches themselves to better address the turbulence that affects them and others with whom they work, live and do business.
This second edition extends the use of scenarios planning and methods to tackle the risk and uncertainty of financial markets and the potentially massive impacts on businesses of all kinds, providing powerful tools to give far thinking executives an advantage in these turbulent times.
Edited By Rafael Ramírez, John W. Selsky and Kees van der Heijden with foreword by Vince Cable
Private equity plays an important role in the financing of the corporate sector. An important issue is the attractiveness of this asset class to investors. That is, how well have private equity funds performed for their investors?
The importance of private equity is undeniable, and the returns that are available to investors will in part determine its future success. Against this backdrop the Amsterdam Center for Corporate Finance (ACCF) has decided to devote this issue of its discussion series "Topics in Corporate Finance" to this important topic.
Ludovic Phalippou, an associate professor of the University of Amsterdam, is one of the key researchers in this area. His research, reflected in this booklet, raises some points of concern. In particular, he concludes that the average private equity fund performs below reasonable (i.e. risk-matching) benchmarks. Fees paid by investors are high even when performance is below these benchmarks. Moreover, the contracts between private equity firms and their investors do not align interests, i.e. induce potential conflicts of interest. Professor Phalippou proposes some carefully crafted general guidelines for regulation.
The field of surveillance studies is developing at a rapid rate, fuelled by a deep unease about the future of individual privacy and growing interest in a number of questions that lie at the heart of the discipline. What information is held about us? To what extent is that information secure? How should new technologies be regulated? How will developments in surveillance affect our ordinary and everyday lives?
Deliberately multi-disciplinary in character, New Directions in Surveillance and Privacy examines these questions from a range of different perspectives, and includes contributions from leading academics in sociology, law, management studies, literary analysis and Internet studies. As privacy comes under increasing threat and surveillance extends into more and more areas of our daily lives, surveillance studies needs to develop in new directions, form new perspectives, and gain new insights. In keeping with this aim, the chapters of this book consider how individuals, organisations, and states gather, analyse, and share ever-increasing amounts of our personal and private information.
Divided into three sections, this book contains chapters touching on issues of legal regulation, changes in the technology of surveillance, and on the future of privacy and surveillance. In so doing, this new collection provides a unique and eclectic insight into the question of how the spread of surveillance is changing our lives and the societies in which we live.
In this brief review, we do not attempt to provide a comprehensive overview of how the concept of ideology has developed in the different perspectives; this has been done in several publications that classify and discuss ideology in great detail (see Chiapello, 2003; Thompson, 1996; Eagleton, 1991; Lenk, 1984; Therborn, 1980; Larrain, 1979, among many others). However, the brief sketch below is intended to help us find venues for combining theories of ideology and institutions. Furthermore, it helps us to place the chapters of this volume in this broader context.
The 'institutional' approach to organizational research has shown how enduring features of social life - such as marriage and bureaucracy - act as mechanisms of social control. Such approaches have traditionally focused attention on the relationships between organizations and the fields in which they operate, providing strong accounts of the processes through which institutions govern action. In contrast, the study of institutional work reorients these traditional concerns, shifting the focus to understanding how action affects institutions. This book sets a research agenda within the field of institutional work by analyzing the ways in which individuals, groups, and organizations work to create, maintain, and disrupt the institutions that structure their lives. Through a series of essays and case studies, it explores the conceptual core of institutional work, identifies institutional work strategies, provides exemplars for future empirical research, and embeds the concept within broader sociological debates and ideas.
The Lean Toolbox 4th Edition, the Essential Guide to Lean Transformation' is written for practitioners and for students, and is the extensively revised version of the best selling 'The New Lean Toolbox'. The book has sections on The Philosophy of Lean, Value and Waste, Transformation Frameworks, Deployment, Preparing for Flow, Mapping, Layout and Cell Design, Scheduling, TOC, Quality, Improvement, Managing Change, Sustainability, New Product Development, The Lean Supply Chain, and Accounting and Measurement.
With ever-advancing scientific understanding and technological capabilities, humanity stands on the brink of the potential next stage of evolution: evolution engineered by us. Nanotechnology, biotechnology, information technology and cognitive science offer the possibility to enhance human performance, lengthen life-span and reshape our inherited physical, cognitive and emotional identities. But with this promise come huge risks, complex choices and fundamental ethical questions: about evolution; about what it is to be human; and about control over, and the distribution of benefits from, new technology.
Written by a range of experts in science, technology, bioethics and social science, Unnatural Selection examines the range of technological innovations offering lives that purport to be longer, stronger, smarter and happier, and asks whether their introduction is likely to lead to more fulfilled individuals and a fairer world. The breadth of approaches and perspectives make important reading for anyone who cares about the implications of humanity engineering its own evolution.
"Social Entrepreneurship" is a term that has come to be applied to the activities of grass-roots activists, NGOs, policy makers, international institutions, and corporations, amongst others, which address a range of social issues in innovative and creative ways. Themed around the emerging agendas for developing new, sustainable models of social sector excellence and systemic impact, Social Entrepreneurship offers, for the first time, a wide-ranging, internationally-focused selection of cutting-edge work from leading academics, policy makers, and practitioners. Together they seek to clarify some of the ambiguity around this term, describe a range of social entrepreneurship projects, and establish a clear set of frameworks with which to understand it. Included in the volume are contributions from Muhammad Yunus, winner of the 2006 Nobel Peace Prize and the father of microfinance, Geoff Mulgan, former head of the British prime minister's policy unit, and Bill Drayton, founder of the Ashoka network of social entrepreneurs.
Fundamentals of Strategy is a brand new concise version of the market-leading text Exploring Corporate Strategy. It has been developed forstudents on short courses in strategy for example, doing an initial course at undergraduate, postgraduate or post-experience level, or studying strategy as part of a wider degree in the arts, sciences or engineering. The book comprises 10 chapters, and focuses on the analysis and formulation of strategy. The final chapter raises implementation issues such as organisational structure, management processes and strategic change.
This book aims to enlarge the understanding of decision-making on mega-projects and suggest recommendations for a more effective, efficient and democratic approach. Authors from different scientific disciplines address various aspects of the decision-making process, such as management characteristics and cost-benefit analysis, planning and innovation and competition and institutions. The subject matter is highly diverse, but certain questions remain at the forefront. For example, how do we deal with protracted preparation processes, how do we tackle risks and uncertainties, and how can we best divide the risks and responsibilities among the private and public players throughout the different phases of the project?
Presenting a state-of-the-art overview, based on experiences and visions of authors from Europe and North America, this unique book will be of interest to practitioners of large-scale project management, politicians, public officials and private organisations involved in mega-project decision-making. It will also appeal to researchers, consultants and students dealing with substantial engineering projects, complex systems, project management and transport infrastructure.
As Trade Union membership has declined, merger and amalgamation have been prominent features in strategies of revitalization. Yet, there is very little systematic, empirical research into their effects on unions or the wider union movement. This ground-breaking study fills this gap with its in-depth analysis of British unions' mergers since 1978.
Chinese translation by Zhang Beisheng and Diao Xiaojing.
In The World's Newest Profession, Christopher McKenna offers a history of management consulting in the twentieth century. Although management consulting may not yet be a recognized profession, the leading consulting firms have been advising and reshaping the largest organizations in the world since the 1920s. This groundbreaking study details how the elite consulting firms, including McKinsey & Company and Booz Allen & Hamilton, expanded after US regulatory changes during the 1930s, how they changed giant corporations, nonprofits, and the state during the 1950s, and why consultants became so influential in the global economy after 1960. As they grew in number, consultants would introduce organizations to 'corporate culture' and 'decentralization' but they faced vilification for their role in the Enron crisis and for legitimating corporate blunders. Through detailed case studies based on unprecedented access to internal files and personal interviews, The World's Newest Profession explores how management consultants came to be so influential within our culture and explains exactly what consultants really do in the global economy....
In the growing and dynamic economy of 19th century America, businesses sold vast quantities of goods to one another, mostly on credit. This book explains how business people solved the problem of whom to trust - how they determined who was deserving of credit, and for how much.
Linda M. Scott wants to put an end to the belief that American women have to wear a colorless, shapeless uniform to achieve liberation and equality. A pointed attack on feminism's requisite style of dress, Fresh Lipstick argues that wearing high heels and using hair curlers does not deny you the right to seek advancement, empowerment, and equality. Scott asserts that judging someone on her fashion choices is as detrimental to advancement as judgments based on race, nationality, or social class. Fashion is an important mode of personal expression, not an indication of submission. She demonstrates that feminism's dogged reduction of fashion to sexual objectification has been motivated by a desire to control other women, not free them. This push for power has produced endless conflict from the movement's earliest days, hindering advances in women's rights by promoting exclusion. It is time for the "plain Jane" dress code of the revolution to be lifted, allowing all women to lead, even those wearing makeup and Manolos.
Fair Trade is at a crucial moment in its evolution from alternative trading mechanism to mainstream economic model. This timely and thoughtful book looks at the strategic future for Fair Trade. Each chapter spearheads a key area of Fair Trade thinking and theory and the political, legal and economic context of Fair Trade is given careful scrutiny. Difficult questions are tackled such as `What is the role and value of corporate social responsibility?' and `What is the brand meaning of Fair Trade?'
This book addresses the basic principles that guide the development of a powerful operations organization, and describes how a company's operating and technological resources can be applied to create a sustainable competitive advantage in today's "new" (global and IT-intensive) economy. Achieving a competitive advantage through superior operations is what the authors refer to as the "operations edge."
Over 750,000 students worldwide have used this best-selling book to understand and explore strategic management through their academic and professional careers. Available in two versions (Text and Text & Cases),Exploring Corporate Strategyhas established a reputation as a pre-eminent textbook in its field, based upon the expertise of authorship, range of cases, depth of commentary and wealth of supporting resources. The 8th edition builds on these strengths, including coverage of key topic areas in this fast-moving discipline such as internationalisation, innovation and entrepreneurship. It is written for students of Strategic Management at all levels.
As the auto industry moves into its second century, it suffers from low margins and a sclerotic value chain that cannot evolve with customer desires. Inventories of many weeks pile up on dealer lots and at distribution centers around the world while executives applaud marginal improvements in factory efficiency.Value streams based on Henry Ford's mass-production model from the early 1900s do not deliver the strategic flexibility that is needed in today's increasingly competitive and demanding market. With billions of potential product variations, customers still compromise by selecting from a limited number of products sitting at dealerships or at distribution centers. Those customers who dare insist on a specific variation not only wait weeks but also pay extra for the privilege of telling vehicle manufacturers what they actually want.In The Second Century, Matthias Holweg and Frits Pil provide a comprehensive look at today's dysfunctional value-chain strategies, then systematically discuss the changes in products and in processes that are needed to bring about responsiveness to customer needs through build-to-order. They look beyond the dealer, the factory and the design studio to examine the web of relationships and dynamics that have brought the auto industry to its current low point.Holweg and Pil argue that in this century the winners will not be those firms that search for larger and larger scale or those who run efficient factories, or those that squeeze the last drop of profitability from their suppliers. The winners, they say, will be those who build products as if customers mattered.
This book focuses on the transition faced by business organizations and their stakeholders as they move from protected markets to open competition, and it explores how these changes can be facilitated by outside interveners/agents. The four authors--two from Europe and two from the United States--have worked separately as consultants with leaders of many companies and unions facing these challenges including AT & T, Lucent, Electricite de France and the Italian State Railways (Ferrovie dello Stato). The reader is thus afforded an unusual insight into the process of change in a large organization--not only close up accounts of what happened, but understanding of the relationship between the researcher/consultant and different groups within the organization: senior managers, HR people, unions, and ordinary employees. The book draws lessons from these cases and experiences on a number of different levels: lessons about the methods of intervention in large organizations; about the nature of the organizational transitions as business faces increased competition; about the pressures this places on unions and other stakeholder groups; about the differences between the US and European context; and about possible models for advancing the change process in the future. The analysis finally focuses on the larger set of forces driving all these cases: the transition to a global post-industrial economy. The experience of change in these corporations, from this perspective, illuminates the dynamics of transition between neo-corporatist stakeholder relations and a more pluralist and decentralized system emerging throughout the industrialized world. This unusual book--by a team of highly experienced researchers/consultants--will be of interest to a broad readership of academics, students, consultants, HR professionals interested in the process and management and change and contemporary trends in modern societies.
Greek translation of 'Science: The Very Idea'.
This volume synthesizes and advances existing knowledge of consumer response to visuals. Representing an interdisciplinary perspective, contributors include scholars from the disciplines of communication, psychology and marketing. The book begins with an overview section intended to situate the reader in the discourse. The overview describes the state of knowledge in both academic research and actual practice, and provides concrete sources for scholars to pursue. Written in a non-technical language, this volume is divided into four sections: "Image and Response"; "Image and Word"; "Image and the Ad"; and "Image and Object". Having travelled a path that has gone from the precise working of the brain in processing visual stimuli all the way to the history of classical architecture, the reader of this volume should have a new respect for the complexity of human visual response and the research that is trying to explain it. It should be of interest to those involved in consumer behaviour, consumer psychology, advertising, marketing and visual communication.
Promoters of multi-billion dollar land-use development megaprojects systematically misinform parliaments, the public and the media in order to get them approved and built. This book not only explores these issues, but suggests practical solutions drawing on theory and scientific evidence from the several hundred projects in twenty nations and five continents.
Despite the recent misfortunes of many dotcoms, e-commerce will have major and lasting effects on economic activity. But the rise and fall in the valuations of the first wave of e-commerce companies show that vague promises of distant profits are insufficient. Only business models based on sound economic propositions will survive. This book provides professionals, investors, and MBA students the tools they need to evaluate the wide range of actual and potential e-commerce businesses at the microeconomic level. It demonstrates how these tools can be used to assess a variety of existing applications.
Advances in web-based technology--particularly automation and delegation technologies such as smart agents, shopping bots, and bidding elves--support the further growth of e-commerce. In addition to enabling consumers to conduct automated comparisons and sellers to access visitors' background information in real time, such software programs can make decisions for individuals, negotiate with other programs, and participate in online markets. Much of e-commerce's economic value arises from this kind of automation, which not only reduces operating costs but adds value by generating new market interactions.
This text teaches how to analyze the added value of such applications, considering consumer behavior, pricing strategies, incentives, and other critical factors. It discusses added value in several e-commerce arenas: online shopping, business-to-business e-commerce, application design, online negotiation (one-to-one trading), online auctions (one-to-many trading), and many-to-many electronic exchanges. Combining insights from several years of microeconomic research as well as from game theory and computer science, it stresses the importance of economic engineering in application design as well as the need for business models to take into account the "total game."
"The Handbook of Strategy and Management" offers a unique synthesis of the inputs and dynamics that shape the core ideas and practices of strategy and management. The editors are three key figures in the strategy field. They have brought together exceptional international authorities whose contributions provide major insights into the current and future development of strategic management. This outstanding volume: provides overviews of the historical development of the various fields within strategic management; addresses the central problems and approaches of strategic management; critically assesses the state and quality of current theory and knowledge; sets agendas for future theoretical and empirical development; and combines focus with diversity in the material and approaches covered.
Making Social Science Matter presents an exciting new approach to social science, including theoretical argument, methodological guidelines, and examples of practical application. Why has social science failed in attempts to emulate natural science and produce normal theory? Bent Flyvbjerg argues that the strength of social science is in its rich, reflexive analysis of values and power, essential to the social and economic development of any society. Richly informed, powerfully argued, and clearly written, this book provides essential reading for all those in the social and behavioral sciences.
Presents data interpreted from a survey of 429 people working in 6 companies in the IT, software, electronics and pharmaceutical sectors. The finding covered the following areas; what knowledge workers value most; the role of individual characteristics, the state of the psychological contract, factors shaping the contract, and its impact. The final section discusses the implications of the findings for managers.
This report identifies constraints and opportunities for the restoration of economic exchange after nuclear war. Four survival scenarios are postulated based on high or low levels of damage to (1) institutions that signal trading opportunities, reduce transaction costs, and regulate and enforce contracts, and (2) resources that are used to create and define wealth. The four scenarios are Best case, Worst Case, Resource Abundance, and an Institution Intensive case. Discussed in depth are such items as property rights, barter, currency, trust, credit, supply and demand, and trust as related to authority.
The topic of careers has become both increasingly important and increasingly complex. Contemporary economies have bought about changes in the nature of careers, and uncertainty in the structure and longevity of firms and their ability to offer long-term employment. Corporate policy-makers struggle with alternatives to traditional employment structures, while individuals struggle to decide whether and how they ought to become more independent of such structures, pursuing what some have called 'post-corporate' or 'boundaryless' careers. This volume is an integrated survey of some of the best current thinking and research on careers. Presented as a series of chapters by an international group of experts and knit together through themes and dialogues, it advances our understanding of the deeper meaning of changes in careers, and of the interrelationships and longer-term consequences of those changes.
This book traces the evolution of the large industrial corporation in France, Germany, and the United Kingdom from the 1950s to the 1990s. It combines long-run trends with illustrative case studies of leading companies and their managers to present a rich and complex picture of corporate change. In particular, the authors highlight the paradox of increasingly similar patterns of corporate strategy and structure across advanced industrial nations with continuing marked differences in corporate ownership, control, and managerial élites. Despite strong institutional contrasts between the leading European economies, and regardless of the decline of the American model of management, big business in Europe has continued to follow a strategic and structural model pioneered in the United States during the first half of the twentieth century and encapsulated long ago in Alfred Chandler's (1962) 'Strategy and Structure'.
"It's like the story of Little Town," an influential actor says in Rationality and Power when choosing a metaphor to describe how he manipulated rationality to gain power, "The bell ringer . . . has to set the church clock. So he calls the telephone exchange and asks what time it is, and the telephone operator looks out the window towards the church clock and says, 'It's five o'clock.' 'Good,' says the bell ringer, 'then my clock is correct.'" In the Enlightenment tradition, rationality is considered well-defined, independent of context; we know what rationality is, and its meaning is constant across time and space. Bent Flyvbjerg shows that rationality is context-dependent and that the crucial context is determined by decision-makers' power. Power blurs the dividing line between rationality and rationalization. The result is a rationality that is often as imaginary as the time in Little Town, yet with very real social and environmental consequences.
Flyvbjerg takes us behind the scenes to uncover the real politics—and real rationality—of policy-making, administration, and planning in an internationally acclaimed project for environmental improvement, auto traffic reduction, land use, and urban renewal. The action takes place in the Danish city of Aalborg, but it could be anywhere. Aalborg is to Flyvbjerg what Florence was to Machiavelli: a laboratory for understanding power and what it means for our more general concerns of social and political organization. Policy-making, administration, and planning are examined in ways that allow a rare, in-depth understanding. The reader is a firsthand witness to the classic, endless drama that defines what democracy and modernity are, and what they can be. The result is a fascinating narrative that is both concrete and general, current and timeless. Drawing on the ideas of Machiavelli, Nietzsche, Foucault, and Habermas, Flyvbjerg reads the Aalborg case as a metaphor of modernity and of modern politics, administration, and planning. Flyvbjerg uncovers the interplay of power and rationality that distorts policy deliberation. He demonstrates that modern "rationality" is but an ideal when confronted with the real rationalities involved in decision making by central actors in government, economy, and civil society. Flyvbjerg then elaborates on how this problem can be dealt with so that more fruitful deliberation and action can occur.
This is four-part work providing an international view of climate change which is designed to complement the Intergovernmental Panel on Climate Change Second Assessment report. The complete work is a benchmark document summarising current understanding of of the contributions of the social sciences to the interdisciplinary issues of global climate change. It brings together widely scattered information and highlights both current research strengths and key areas for further research. The books survey the state of the art of the social sciences with regard to global climate change research; recognise global climate change research as policy relevant; review what is currently known, uncertain, and unknown in the social science areas relevant to global change; assemble and summarise findings from the international research community; report these findings within behavioural and interpretive frameworks as appropriate; and assemble this information to enlighten the future formulation and conduct of policy-relevant scientific research. The volumes in this four-part work cover resources and technology (Volume 2); tools for policy analysis (Volume 3); and, in Volume 1, begin with the societal framework. Volume 4 is presented as a readable summary for non-professionals. The first chapter of Volume 4 comprises the introductory section of each of the three more specialist volumes.
A detailed examination of the industrial relations and employment legislation introduced by the Conservative government and its impact on trade unions: their role, organization, influences and prospects. Emphasis is placed on the use of ballot legislation as an instrument in this process.
Eighteen papers assess Britain's extensive regulatory reform, which has taken place over the last decade. Papers focus on privatization, incumbent advantage, and the competitive process; the supply of gas to U.K. industry; reforming the National Health Service; regulatory reform in higher education; the impact of competition on pricing and quality of legal services; the regulation of financial services; the reregulation of British broadcasting; information asymmetries and product-quality regulation; regulation and standards policy; regulation in the European Community and its impact on the United Kingdom; modified regulation of telecommunications and the public interest standard; competition and regulation in telecommunications; the development of telecommunications policy in the United Kingdom, 1981-91; the regulation of product quality in the public utilities; RPI A X price-cap regulation; the cost of capital in regulated industries; law and regulation; and problems of yardstick regulation in electricity distribution.
Many organizations find themselves open to a hostile takeover bid and this book, with a comprehensive case study approach, offers an understanding of what can happen, why and how to manoeuvre from under a hostile takeover. "Hostile Takeovers" presents a case study analysis of this make or break issue, disclosing the strategies and outcomes of over 40 hostile takeovers. Through these cases, the authors offer both guidance and specific takeover strategies and how to overcome them. They also draw out general conclusions - bringing new ideas on, for example, how takeovers can affect the long-term success of an organization. The text looks at takeover bids on Bassett Foods, Marina Developments and Piccadilly Radio, among others.
It is fashionable to speak of trades unions in the UK as organisations in decline. However, it is their organisation and, in particular, their financial status, which ultimately dictates unions' ability to survive, recruit, and influence employers. This book provides the first systematic picture of union financial status for thirty years, and reveals a dramatic picture. Though, overall, unions have become financially less healthy in the post-war period, many unions experienced an improved financial position during the membership contraction of the Thatcher years. It also shows that the long term financial decline of unions has been more affected by competition between unions for membership than by the effects of traumatic industrial disputes.
In his introduction to this book on corporate strategy, Richard Whittington makes the point that the great number of published books on strategic management all cover much the same ground and present similar recipes for success, and few indulge in self-questioning. If it was really as easy as that, managers would only need to read a few books in order to ensure they never make mistakes. Reality, however, is that in the world of business many of the most well-accepted models of strategic action have met with spectacular failure. "What is Strategy - and Does it Matter?" identifies four basic "theories of action" in strategy: the classical planning approach; the efficiency-driven evolutionary approach; the craft-like processural approach; and the internationally-sensitive, systemic approach.
Financial intermediation is currently a subject of active research on both sides of the Atlantic. The integration of European financial markets, in particular, highlights several important issues. In this volume, derived from a joint CEPR conference with the Fundacion Banco Bilbao Vizcaya (BBV), leading academics from Europe and North America review 'state-of-the-art' theories of banking and financial intermediation and discuss their policy implications. The principal focus is on the risks of increased competition, the appropriate regulation of banks, and the differences between Anglo-American and Continental European forms of financial markets. Relationship banking, stock markets and banks, banking and corporate control, financial intermediation in Eastern Europe, monetary policy and the banking system, and financial intermediation and growth are also discussed.
Considers the social and economic arrangements that would be necessary for rational mechanisms of exchange and distribution to emerge, function, and remain viable if extreme conditions produced an absence or the severe destruction of an institutional infrastructure and resource endowments.
Corporate taxes are now one of the few obstacles to a better international allocation of capital. This arises from the steady removal of barriers to capital flows and the increasing integration of capital markets. This provides, in a common format, the main corporate tax provisions of all 24 OECD Member countries for 1991. It also calculates effective corporate tax rates on domestic as well as on international investment for manufacturing industry in these countries. The report discusses the main relevant tax policy issues with particular emphasis on possible means to reduce tax distortions to international flows of capital.
This Report examines the monetary unification of Europe and the creation of a European Central Bank. It deals first with the macroeconomics of monetary union and highlights four issues. What monetary constitution is required to deliver price stability, and do the draft statutes of the European Central Bank (ECB) meet these conditions? Are fiscal rules a necessary adjunct to such a constitution? Is convergence of inflation rates a precondition for embarking on monetary union? Finally, how should the transition be managed?
This book presents a comparative international analysis of the impact new technology and, more specifically, information technology is having on the most rapidly growing area of economic activity, the service sector. Based on a five year research programme of 39 organizations in Europe, USA and Japan, the book tackles the following key questions: 1) Why and how was the new technology introduced? 2) What impact has it had in terms of employment levels, working practices, economic returns and improvement in service quality? and 3) What new skill requirements have been generated? The book includes case studies from a wide variety of areas such as banking, retailing and healthcare and presents comparative reseach data that allows the reader to draw conclusions on how a significant technological development is being handled in different countries. The book also identifies those political factors which can influence the choice of new technology and which can obstruct the most constructive use of IT.
An authoritative study of the investment management business, focusing on the use of capital requirements for investment managers as a means of investor protection. This report was commissioned by the Investment Management Regulatory Organization.
A discussion of corporate strategies in recession and recovery during the period 1979-85. Topics covered include recession strategies, taking the domestic appliance and office furniture industries as examples, details of how the research was carried out and social structure and strategic choice.
Originated with an Institute for Fiscal Studies project on fiscal policy in the corporate sector that used company accounting data to analyze the effects of corporate taxation on firm behavior, focusing on how company accounts can best be applied to economic analysis. Discusses the assessment of complete activities using accounting profitability data. Reviews the value-to-the-owner rules for capital valuation and the assessment of activities over limited segments using accounting profitability data. Examines inflation accounting, focusing on the case for real terms accounts and alternative profitability measures. Discusses taxation and accounting profitability, and concludes with a summary of proposals.
Taking the reader through the tangled web of opera's opulent history, this book traces its roots back to Ancient Greek music dramas, through the medieval Christian and secular musical plays, to the Renaissance and to the prolific 17th century. It continues with detailed accounts of the 18th century - when opera became a household word - the High Baroque, the French and German heroic and romantic comedies, the great Italian period and the contemporary works of, amongst others, Glass and Birtwistle. This anecdotal study frequently touches on other aspects of opera, including its settings and economics and the social, political and even religious or philosophical elements.
A collection of theoretical and applied readings which provide a review of the arguments for and against privatization and which draw together some of the important pieces of research that have been undertaken on the issue.
During the decade preceding publication there were a number of significant developments in financial economics and major contributions made both by individuals who could be classified as conventional financial economists and by others who do not fit easily into this category - theoretical microeconomists, public and industrial economists. This volume contains a selection from the papers presented at a conference in Oxford in September 1985 which aimed to bring together a number of the leading participants in this field. The papers in the volume cover a wide range of topics - the efficiency of financial markets, new equity issues, asymmetric corporate taxation and investment, credit rationing, international investment, the foundations of banking theory - but they clearly reflect the main themes in financial economics at the time: the importance of informational asymmetries and of taxation.
The Thatcher government has pledged to bring in statutory provision for ballots in certain trade union elections and for the calling of industrial action. This book examines the current use of ballots in union elections and their effect on participation and leadership selection. Previous discussion of trade union ballots has been based upon unfounded assumptions, limited evidence and incorrect inference from American experience. This is the first analysis of the role of ballots in union elections and collective bargaining based on empirical research in Britain. The authors show how ballots are, at the moment, underused and only one of the ways in which unions consult their members. They also explore the circumstances likely to lead to balloting under current legislation and its consequences. The book provides a most detailed look at the history, current practice and future possibilities for the use of ballots in trade unions. It will inform both the industrial relations and legal practitioner and teacher, as well as those, on both sides of the industrial fence, seeking either to promote or ward off change in industrial union practice.