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In the United States in the last few years there has developed a notion of “strategic human resource management” (HRM). As with other high-sounding phrases in the management of people, first reactions are likely to divide between “let's have some of it” to “it won't work here”, with the latter possibly predominating. Where American pragmatism inclines towards trying new things to see if they work, British pragmatism tends to mean sticking with the actual and the evidently possible. Nevertheless, reviewing ideas which run ahead of practice can, on occasion, be useful in suggesting new possibilities. This article will review the implications of “strategic HRM” and ask whether it has any relevance to some of the issues which currently exercise personnel managers in the UK — notably, decentralising the personnel function and increasing workforce flexibility.
This paper examines the influence of corporate tax exhaustion on the firm's financial and investment decisions. A dynamic programming model is used to establish effective marginal tax rates in the presence of a tax system that permits the carry forward of losses to future periods. The paper demonstrates that internal optimal financial structures may result which do not require the imposition of external constraints. The cost of capital is highly sensitive to the current taxable earnings of the firm and the implications of this for such tax transfer activities as leasing are discussed.
Between 1980 and 1985 the British growth rate averaged 7.7% per annum. Employment increased by 18% and real wages increased by 31%. This impressive record was unfortunately not observed throughout the economy but restricted instead to one sector: financial services. This sector and its relationship to the rest of the economy is the subject of this issue.
As financial services go through one of their most radical restructurings of this century, this Assessment analyses the factors underlying these changes. A picture of the function of different financial institutions emerges which allows the concerns that have been expressed about recent developments in financial markets to be re-evaluated. The worrying implication is that systems for correcting substantial financial disruption are not yet in place.
This article re-examines the selection process in the context of a sample of applicants to read Philosophy, Politics and Economics at Oxford University in 1978. We have observed that a stable equation can be estimated that correctly classifies a high proportion of candidates between accepted and rejected categories and forecasts well out of sample. Performance in Oxford's own entrance exam was found to be the most important public examination influence on the probability of being accepted. A- and O-levels, while less influential, were still highly significant. Inclusion of individual entrance and A-level marks substantially improved the performance of the function and some exam results were observed to be more significant than others. Socioeconomic variables as a group were highly significant. While women had a slightly higher probability of being admitted ceteris paribus than men there was not much evidence of sex discrimination. Far more important was the type of school from which the candidate came. Finally, in contrast to selection, the decision to award a scholarship or exhibition appears to be based virtually entirely on entrance exam performance and, to a lesser extent, A-level grades.
The article presents a study on the application of some accounting concepts and functions in economic analysis. According to the author, his analysis will provide a basis on which accountants can discriminate between the alternative rules and standards available to them by reference to their relevance to the information required by investors or regulators. The author states that current cost accounts should be used with care. The appropriate method for economic interpretation of rates of return on capital deals with the application of the balance sheet conventions of current cost accounting.
Examines union merger discussions in the clearing banks in London, England. Prospects and obstacles to the merger between the Banking Insurance and Finance Union and the Clearing Bank Union; Importance of ideological differences and the proposed distribution of power in the negotiations; Internal political factors in explaining merger patterns; History of the inter-union rivalry.
Contends that the notion of disturbing a system as the best way to understand it has profoundly altered the traditionally rigid boundary between scientist and S. This idea has evolved to become a systematic and distinctive approach that emphasizes active engagement with clients and co-learning. Three approaches to this type of effort are discussed: action research that aims to contribute both to the practical concerns of people in an immediate problematic situation and to further the goals of science simultaneously; action learning that describes the complex collaborative relationships required of organizational change efforts; and action science that takes purposeful action related to a particular phenomena. Two case studies illustrate important aspects of collaborative social intervention from the researcher/consultant's side.
The Oxford Institute for Employee Relations (OXIFER) is a small research and teaching community based at Templeton College, Oxford. It aims to link advanced research with teaching and the widespread dissemination of findings, focusing primarily on the role of management in employee and industrial relations and examining aspects of employee relations. Four research projects are currently under way. The first, Development and Dissemination of the Industrial Relations Audit, involves identifying an organisation's existing industrial relations practices and comparing and contrasting these with the desired position as perceived by senior managers or a joint body of senior managers and union representatives. Line Management of Industrial Relations uses data from the audits conducted in the first project to study the industrial relations role of line managers. The Management of Employee Relations in the Multidivisional Company focuses on the strategic choices open to senior line managers and personnel management. Management of Change and the Contribution of Industrial Relations Training aims to gain a better understanding of the process of change in a variety of organisations with particular reference to the contribution which industrial relations training in its broadest sense can make to change. Common themes running through the projects are methodology, employment relations and the management of change and the apparent current managerial concern with quality.
This paper explores some of the critical issues in the development of factory automation systems. Amongst the most significant of these can be considered the role of people, the generation of controls software, the reconfiguration of the manufacturing hardware and software to allow an increased variety of tasks to be carried out and automatic error recovery. This paper reports the design and operation of a cell exploring potential solutions to some of the problems arising from these issues and presents further thoughts on their solution.