bluuebunny/crossref_metadata_2025 huggingface dataset:
Auditor Independence: A Real Issue?
Authors: Schilder Arnold
Published: October 2006

‘The independence of auditors is primarily an issue of perception and communication’. The author is Professor of Auditing at Maastricht Accounting and Auditing Research Center (MARC) University of Limburg, and University of Amsterdam; and a partner of Coopers & Lybrand Dijker Van Dien Accountants, Amsterdam. He wishes to express his thanks to Gijs Bak, Tony Bingham, John Hegarty, Wim Moleveld, David Pimm and Arno de Schepper for their valuable comments.
FOCUS: Women in Business Women at Work: A Problem for Business Ethics?
Authors: Vallance Elizabeth
Published: October 2006

Businesses need to shape and monitor their structures and processes if they are at least to make sex‐discrimination more difficult. The author is Visiting Professor in Politics at Queen Mary and Westfield College, University of London.
FOCUS: Women in Management: An Empirical Exploration of Ethical Issues
Authors: Goffee Rob
Published: October 2006

Dr Goffee reviews empirical evidence on the labour market position and work experience of women managers, assesses the kind of work situations which are likely to be perceived by women managers ‐ and, in some cases, their partners and colleagues ‐ as involving an “ethical” dimension, and suggests possible sources of differentiation in the experiences of European women managers which are worthy of further comparative research. The author is Associate Professor of Organisational Behaviour at London Business School.
FOCUS: Equal Opportunities: The Challenges for Business
Authors: Howe Lady
Published: October 2006

The equal opportunities issue constitutes one of the biggest ethical and practical challenges ever faced by business, because it strikes at fundamental cultural assumptions about the purpose and responsibilities of business and the rights of individuals which are ingrained from childhood. The author is chairman of Business in the Community's‘Opportunity 2000′.
FOCUS: Women in Business ‐ A Select Bibliography
Authors: Mahoney Jack
Published: October 2006

Sources include the data‐base of the Institute of Management Information Centre, Management House, Cottingham Road, Corby, Northants NN17 1TT, England (tel 0536 204222), to whom acknowledgement is made.
An Ethical Opportunity for UK Labour Relations
Authors: Sheldrake John
Published: October 2006

’An opportunity now exists to adopt an ethical approach to labour relations on the basis of a recognition by all parties of legitimate rights and duties and an acceptance of mutualism and trust.’Dr Sheldrake is Senior Lecturer in the Department of Politics and Government, City of London Polytechnic, and author of Industrial Relations and Politics in Britain 1880‐1989 (1991).
FOCUS: The New Germany A United Germany in the New Europe
Authors: Von Richthofen H.E. Baron Hermann
Published: October 2006

Last October the German Ambassador to Britain delivered the annual Gresham Special Lecture in Gresham College in the City of London. The text of His Excellency's lecture is reproduced here with permission.
FOCUS: The Volkswagen Experience of Investing in Central Europe
Authors: Hahn Carl H.
Published: October 2006

The Chairman of Volkswagen's Board of Management made the following presentation in London last November at a Conference on‘Business and Moral Standards in Post‐Communist Europe’, held under the auspices of the Cardinal Archbishop of Westminster and sponsored by the Sedgwick Group and KPMG Peat Marwick. Dr Hahn's lecture is reproduced with permission.
Credit, Debt and Consumer Protection
Authors: Sorell Tom
Published: October 2006

Should credit consumers always be deferred to? Dr Tom Sorell contributed to the British Open University Business School MBA programme, and is Head of the Department of Philosophy at the University of Essex.
Partnership on Top of a Dutch Gas Pocket
Authors: van Es Robert
Published: October 2006

Recent developments between Gasunie and Groningen illustrate the delicate issues which are raised by such company‐city partnerships. The author is a scientific researcher in Ethics at Nijenrode, The Netherlands School of Business. He wishes to thank Henk Pohlmann, Head of the department of Collective Relations and Social Policy of Gasunie, for information and discussion.
Corruption: Where to Draw the Line?
Authors: Lloyd Bruce
Published: October 2006

Just what is corruption, and what should, or can, be done about it? The author is Head of the Management Centre at South Bank University, London.
Now Read This: Book Reviews Translating Corporate Values into Business Behaviour
Authors: Wilson Andrew
Published: October 2006

C. Henry, J. Drew, N. Anwar, D. Benoit‐Asselman and G. Campbell, EVA Project Report of the Ethics and Values Audit, Preston: University of Central Lancashire, 1992, pp. iii + 131, pb, £12.
FOCUS: Some Ethical Issues in British Insurance
Authors: Moore Peter G.
Published: October 2006

Insurance is not well understood by most UK purchasers and many feel unease about it. Could this be partly due to the structure of the products on offer, and partly to the difficulties in obtaining good quality impartial advice? The author is Professor of Statistics, and a former Principal, at London Business School, Professor of Rhetoric at Gresham College, London, and a past President of the Institute of Actuaries.
FOCUS: Studying Risks: The Science of Cindynics
Authors: Kervern Georges‐Yves
Published: October 2006

’Catastrophes are not accidents.’All complex organizations can take steps to prevent catastrophe by enlisting the new scientific study of danger. The author is a member of the Scientific Committee of 1′Institut Européen de Cindyniques and Directeur général adjoint of L'Union des Assurances de Paris. This article is part of a presentation made to the 1992 Paris Conference of the European Business Ethics Network, of which the author is a Council member. The subject of the Conference was the role of business in the shaping of cities, but the author's reflections on learning from risks are of considerably wider application.
Around Europe: A Spanish Colloquium on Ethical Business
Authors: Argandoña Antonio
Published: October 2006

Markets, Efficiency, Competition and Corruption were the topics discussed at the Second Colloquium on Economics and Business Ethics held last October in IESE (International Graduate School of Management), Barcelona. This report is from the Professor of Economics, who is also a member of the Executive Committee of the European Business Ethics Network.
Differing National Approaches to Business Ethics
Authors: Vogel David
Published: October 2006

What is unique about the development of business ethics in the USA, and how does it compare with various countries of Europe and with Japan? Institutional, legal, social and cultural factors are identified by the Professor of Business and Public Policy at the Haas School of Business, University of California at Berkeley. An earlier version of this article titled “The Globalization of Business Ethics: Why America Remains Distinctive” was published in the Fall 1992 issue of the California Management Review, Vol. 35, No. 1. Reprinted by Permission of The Regents of the University of California.
FOCUS: Investment
Authors: Prodhan Bimal
Published: October 2006

’Although the empirical and conceptual underpinnings of New Finance have been rigorously tested, its ethical underpinnings have not been explored.’These are seen to derive from the social remoteness of late twentieth century individualism, which needs to be countered by sensitivity to the social context of finance and to the developmental nature of ethical behaviour. The author is Fellow in Finance at Templeton College, Oxford.
Ethics and the Sports Business
Authors: Wheeler Marion
Published: October 2006

Action needs to be taken on the ethical issues raised by the commercialising of sport if its integrity is to be maintained and its ethical base is not to be eroded further. The author has worked as an independent consultant in the leisure sector for a number of years and has recently joined the Research Unit of Britain's Sports Council. The views expressed by her in this article are not necessarily those held by the Sports Council.
FOCUS: Guidance for British Managers
Authors: Evers Sheila M.
Published: October 2006

In 1990‐92 Britain's Institute of Management commissioned a working party of its Professional Practice Committee to review the Institute's Code of Conduct and Guides to Professional Management Practice. Sheila Evers, currently Vice‐Chairman of the Institute of Management, chaired the working party; and based on further discussions she has now written and compiled a supporting document, “The Manager as a Professional”, with checklists for the individual manager. Copyright of the documents, reproduced here with permission, rests with The Institute of Management, which is, however, willing to permit their being used and quoted with due acknowledgement.
Ethics Codes in British Companies
Authors: Ryan Leo V.
Published: October 2006

How common are corporate codes of ethics in the UK and especially among Britain's most admired companies? The author is Wicklander Professor of Professional Ethics at DePaul University, Chicago, and current President of the American Society for Business Ethics.
Now Read This: Book Reviews The Protestant Work Ethic. What Was It? Is its Ghost Still Around?
Authors: Preston Ronald H.
Published: October 2006

Adrian Furnham, The Protestant Work Ethic. The Psychology of Work‐related Beliefs and Behaviour, Routledge, Chapman & Hall, London and New York, 1990, pp. xv + 305, pb, £13.99, ISBN 0‐425‐01705‐X.

Carl‐Henric Grenholm, Protestant Work Ethics: A Study of Work Ethical Theories in Contemporary Protestant Theology, Uppsala Studies in Social Ethics 15, Uppsala, 1993, pp. 350, np.
Now Read This: How Gendered Are Organizations?
Authors: Pruitt Lisa R.
Published: October 2006

Mike Savage & Anne Witz, eds., Gender and Bureaucracy, Blackwells, Oxford, 1992, pp. 282, pb, £13.99, ISBN: 0631‐85283.
The Ethics of Giving Notice
Authors: Brytting Tomas
Published: October 2006

What ethical issues are raised when employees are going to be given notice to leave? Are some approaches more ethical than others? This paper analysing the ethics of the situation and offering ethical guidelines was prepared for the Swedish Association of Graduates in Business Administration and Economics in its work to formulate a professional code of conduct. The author holds a PhD in business administration and is a member of The Swedish Council for Management and Work Life Issues, P.O. Box 5042, S‐10241 Stockholm, Sweden.
Disability and Discrimination ‐ a UK Perspective
Authors: Grzeda Jerzy
Published: October 2006

“Discrimination on the grounds of disability is seldom malicious, but stems more from a lack of understanding.” A disabled businessman explores the need for businesses to cultivate and implement greater disability awareness. After graduating in engineering, he gained his MBA from London Business School in 1992. He now works as a consultant, capitalising on his background in business management and his personal experience of disability to assist clients in developing anti‐discriminatory policies and practice.
FOCUS: Teaching Ethical Business* Creating and Using Vignettes to Teach Business Ethics
Authors: Bain William A.
Published: October 2006

Brief thumbnail sketches capture group interest and show the relevance of ethical considerations in real life situations. Bill Bain has considerable experience of business and is currently a PhD student at the Management School of London University's Imperial College, 53 Prince's Gate, Exhibition Road, London SW7 2PG.
FOCUS: Learning Ethical Business through Role Play
Authors: Rice John L. H.
Published: October 2006

Once a company has identified its core values role play can help its leaders explore their meaning in practice. The author is now working as a freelance adviser on organisation development having worked in this area in a large engineering company. He has a general interest in the industry/church interface.
FOCUS: Practical Reflections on Teaching Business Ethics to Undergraduates
Authors: Trezise Edward K.
Published: October 2006

Teaching business ethics to undergraduates has disclosed difficulties for both students and teacher which raise deeper issues about what is the purpose of teaching ethics and of engaging in business. The author is Lecturer in Business Ethics in the Faculty of Business and Social Studies, Cheltenham & Gloucester College of Higher Education, Swindon Road, Cheltenham, Glos GL50 4AZ, UK.
FOCUS: Stakeholder Responsibilities: turning the ethical tables
Authors: Mahoney Jack
Published: October 2006

Stakeholder theory aims at identifying those who have rights or interests at stake in business behaviour. Can we turn the tables and also consider what ethical responsibilities various stakeholders may have for the good behaviour of business? The author is Editor of this Review. This article contains material which also appeared in the Hugh Kay Memorial Lecture for 1993 delivered by the author under the auspices of the Christian Association of Business Executives, London.
The Increasing Importance of Ethics in Computer Science
Authors: Langford Duncan , Wusteman Judith
Published: October 2006

“The potential dangers of ignoring ethical issues exist for all business computer professionals”. Drs Langford and Wusteman, of the Computing Laboratory, The University, Canterbury, Kent CT2 7NF, reflect on their experience of teaching ethics to computer scientists and on the problems to be encountered in this new field of applied ethics.
Corporate Temperance a Business Virtue
Authors: Warren Richard C.
Published: October 2006

“There are strong temptations for those at the top of an organisational hierarchy to appropriate to themselves a disproportionate share of the resources of the organisation and to exercise too much power over the activities of other organisational members.” Hence the case for taking a cool look at executive remuneration and other possible breaches of applying the classical virtue of temperance to corporate behaviour. The author is Principal Lecturer in the Business Studies Department, Manchester Metropolitan University, Aytoun Building, Aytoun Street, Manchester M1 3GH.
Book Review: A German treatment of Business ethics
Authors: Blickle Gerhard
Published: October 2006

Karl Homann & Franz Blome‐Drees (1992). Wirtschafts‐ und Unternehmensethik. Vandenhoeck & Ruprecht. Göttingen. pp. 207. paperback, 19.80 DM. ISBN 3‐8252‐1721‐3
Getting to No. A Matter of English Ethics or Culture?
Authors: Djursaa Malene
Published: October 2006

When does an English businessman's ‘yes’really mean ‘no’, ‘maybe’, ‘later’, or perhaps ‘probably not’? And how much of this is unethical stringing along or part of a puzzling English business culture? Why can't they say what they mean? Dr Djursaa is Associate Professor with responsibility for British political and social studies at the Business Language Faculty of Copenhagen Business School, Dalgas Have 15, DK‐2000 Copenhagen F, Denmark. She gained her doctorate at the University of Essex and spent a period as visiting fellow at Cranfield School of Management. Her major field of research, on which she here reflects, is cultural factors in Anglo‐Danish business relations.
FOCUS: Business Ethics Research: A Cultural Perspective
Authors: Brigley Stephen
Published: October 2006

Why do certain ethical values and beliefs work within the realities of organisation life, while others do not? Research into corporate culture in its various expressions can provide a means of relating corporate rhetoric to actual performance and provide a deeper understanding of the conditions for practical change. Dr Brigley is a member of the Centre for the Study of Organisational Change in the School of Management, University of Bath, Claverton Down, Bath BA2 7AY. He wishes to acknowledge the benefits received from discussion with his colleagues in the Centre and especially with its Director, Dr Paul Bate.
FOCUS: Focus Groups: Are they Viable in Ethics Research?
Authors: Vyakarnam Shailendra
Published: October 2006

Charges of methodological weakness in business ethics research may be partly countered by expanding the use of focus groups to concentrate on the experience of participants as they identify and discuss ethical dilemmas they have encountered and solutions they have explored. Dr Vyakarnam is Lecturer in Enterprise at Cranfield University School of Management, Bedfordshire MK43 OAL.
FOCUS: Ethics in Competition Morality and Competitive Advantage
Authors: Malachowski Alan
Published: October 2006

Successful business activity in the market is commonly likened to evolution and the survival of the fittest, in which there is little, if any, place for ethics. The author questions various assumptions underlying this view, and suggests that competition can bring out the best as well as the worst in human character. He is a member of the Department of Philosophy in the Faculty of Letters, Reading University, Whiteknights, Reading RG6 2AH. This paper was first presented at a Seminar on Teaching Business Ethics held at London Business School on Friday, 10 March, 1995.
Window on Eastern Europe: Teaching Ethics in Gdańsk
Authors: Kinach‐Brzozowska Krystyna
Published: October 2006

Against the background of a new Ten Commandments for the Polish business community a new course in business ethics is now being offered to students in the Faculty of Management and Economy of the Technical University of Gdańsk, ul. G. Narutowicza 11/12, 80‐952 Gdańsk, Poland. Dr Kinach‐Brzozowska, who introduced the course last year, describes its content and her students’needs and reactions.
Book Review Basic Incomes or Personal Freedoms?
Authors: Prowse Michael
Published: October 2006

Samuel Brittan, Capitalism with a Human Face, Edward Elgar, pp. 320, £49.95 (£15.95 paperback). Also available from Edward Elgar in the US at $79.95 ($23.95).
Business Integrity in Transitional Economies: Central & Eastern Europe
Authors: Murray David J. , Kucia Marek
Published: October 2006

What are the ethical concerns among the growing populations of business people in Central & Eastern Europe, and how might they be dealt with practically in the course of business life? David Murray has been a management consultant since 1979 working primarily with the Hay Group in the area of strategic organisational change. Since founding Maine Consulting Services in 1991 he spends most of his time in the field of business and professional ethics, also holding a Visiting Fellowship at the University of Central Lancashire. He is chairman of the Professional & Technical Board at the (British) Institute of Quality Assurance and a coordinating editor of the quarterly Organisations & People. Marek Kucia is a social researcher operating his own research agency (which organised the Polish part of this exercise) and an academic teaching sociology, and conducting and co‐ordinating Central European Studies at the Jagiellonian University, Krakow. He studied political science, sociology and philosophy at Krakow and studied for his PhD at Oxford. He has also worked for Gallup, London, in opinion and market research. This survey report is based on presentations made in April 1994 to the EBEN Research Centres Conference in Prague, and in June 1994 to the conference on “Ethics in Transition” organised in Gödöllö, Hungary, by the Democracy after Communism Foundation, Budapest.

The authors wish to acknowledge the major contribution to this work of Mr Juraj Kusnierik of the Central European Foundation, SEN, Bratislava, who co‐ordinated the survey exercise. The project was sponsored by The Ethics Development Initiative, CARE, London; the Central European Foundation, SEN, Bratislava, Slovakia; SIS Ltd., Bratislava, Slovakia; and Maine Consulting Services, 16 Acrefield, Blackburn, Lancashire, England BB2 7BJ, to which all correspondence connected with this report should be addressed.
FOCUS: Business Ethics in Europe Current Developments in German Business Ethics
Authors: Steinmann Horst , Kustermann Brigitte
Published: October 2006

Germany is at the leading edge of European reflection on the nature and requirements of ethical business. Two scholars in the field provide a survey of the main lines of discussion in the current German business ethics scene, and discuss three important books which are helping set the scene for further developments. Prof. Dr. Horst Steinmann holds the Chair for Business Administration and Management at the University of Erlangen‐Nürnberg, Lange Gasse 20, D‐90403 Nürnberg, and Dipl.‐Hdl. Brigitte Kustermann is research assistant to the same chair.
Business Ethics in Modern Spain
Authors: Argandoña Antonio
Published: October 2006

The leading academic in Spanish Business Ethics offers a brief history of his subject in Spain and reflects on the evolution taking place in the 1990s. Professor Argandoña is Secretary General of IESE (Instituto de Estudios Superiores de la Empresa) in Barcelona, the International Graduate School of Management of the University of Navarra, Av. Pearson 21, 08034 Barcelona, Spain. He is also a member and Honorary Treasurer of the European Business Ethics Network (EBEN) and an Associate Editor of this Review.
Now Read This: Book Reviews How to enhance European moral reflection
Authors: Bain William A.
Published: October 2006

Brian Harvey, Henk van Luijk and Horst Steinmann (editors), European Casebook on Business Ethics, Prentice Hall, London, 1994, pp. xiv + 226, £18.95, ISBN 0‐13‐298242‐0
Ethics — The Engineer
Authors: Wood A. M. Muir
Published: October 2006

“Engineers are generally an ethically motivated profession, knowing that their achievements are open to scrutiny and that much of the activity relates to work of a team.” What form such engineering ethics should take today is explored here by Sir Alan Muir Wood, FRS, FEng, FICE, Consultant, Sir William Halcrow and Partners.
Work‐Related Stress: An Ethical Perspective
Authors: Bryan Sue
Published: October 2006

Work‐related stress is too often neglected by employers and rarely seen as an ethical issue by them. Its moral implications are explored here by the Senior Corporate Policy Manager at City and Inner London North Training and Enterprise Council, 80 Great Eastern Street, London EC2A 3DP. Sue Bryan, M.A., A.M.I.P.D., is also completing an Executive MBA degree at London Business School.
EBEN Goes to Germany
Authors: Löhr Albert , Steinmann Horst
Published: October 2006

The 9th Annual Conference of the European Business Ethics Network (EBEN) will be hosted by a national EBEN network, Deutsches Netzwerk Wirtschaftsethik (DNWE), in cooperation with a business partner, Deutsche Lufthansa AG. Far beyond the generous support which Lufthansa is providing to organize the event, the company itself stands as a symbol for the conference theme, Working Across Cultures in the Europe of Tomorrow. Working across cultures is part of their everyday business, since Lufthansa operates with 58,000 employees in over 100 subsidiaries all over the world. The authors are members of the EBEN 1996 Programme Committee and represent the host institutions of the conference. Albert Löhr is member of the EBEN Executive Committee, Horst Steinmann is Chairman of the German network of EBEN, Deutsches Netzwerk Wirtschaftsethik.
Alternative Dispute Resolution: An Emerging International Business Practice
Authors: Mackie Karl J.
Published: October 2006

Speed, flexibility, negotiated control of outcomes, savings and absence of future enmity. Why lose all this in litigation when a new user‐friendly alternative is on the increase? The author is Chief Executive of the Centre for Dispute Resolution (CEDR), 7 St. Katharine's Way, London E1 9LB, and Special Professor in ADR in the University of Birmingham, England.
Window on Eastern Europe
Authors: Hjort Katrin Erna
Published: October 2006

Commercial cooperation between transBaltic neighbours Denmark and Poland is thriving, yet relationships between business people in the two countries are not always easy as a consequence of differing cultural histories and misunderstandings. The author is Associate Professor in the Department of Intercultural Communication and Management in Copenhagen Business School, Dalgas Have 15, DK‐2000 Frederiksberg, Denmark.
FOCUS: Ethics and the NHS Reforms in the UK
Authors: Sorell Tom
Published: October 2006

“In the UK a so‐called internal market has been operating within the government‐run National Health Service since 1991.” Analysing the ethical tensions to which this gives rise is Tom Sorell, Editor of this FOCUS, author with John Hendry of Business Ethics (Butterworth Heinemann 1994), Professor of Philosophy at the University of Essex and Fellow in the Ethics and the Professions Program at Harvard for 1996/97.
The stability of market shares in UK manufacturing industry 1979–1986
Authors: Davies Stephen , Geroski Paul , Vlassopoulos Anastassios
Published: October 2006

Competition is a selection process in which the winners survive and expand, and the losers contract and disappear. This paper examines the selection process applied to the leading five firms in a large sample of UK manufacturing industries over the period 1979 to 1986. Selection pressures are seen to vary substantially the rank of the firm, and much but not all of the selection pressures that these firms faced originated in the capital market.
The importance of product positioning: successful entry in the national newspaper market
Authors: Cronshaw Mike , Cubbin John , Davis Evan
Published: October 2006

You cannot afford to get positioning wrong, but there are limited rewards for getting it right. That is the rather pessimistic conclusion you can draw from this account of recent entry into the British newspaper industry. The authors use the experience of that industry to illustrate some principles of good and bad positioning.
Managerial Buyouts, Incentives And Performance
Authors: Robbie Ken , Thompson Steve , Wright Mike
Published: October 2006

The managerial buyout (MBO) is a means of motivating senior managers and institutional investors to increase their monitoring efforts and so raise the performance of the firm. This paper suggests that the typical MBO contains a mix of incentives which motivate managers by raising the rewards for success and increasing the penalties for failure. At the same time, the relationship between the new company and its institutional backers encourage the latter to monitor the efforts and achievements of the management team. Such a structure appears useful in raising the performance of divested divisions, particularly in mature industries.
Who are the champions? (An analysis of football and architecture)
Authors: Dell'Osso Filippo , Szymanski Stefan
Published: October 2006

Association Football is a highly competitive business. In this article Filippo dell'Osso and Stefan Szymanski ask how Liverpool FC the most successful team in the English Football League of the last 20 years have achieved their record. They identify four general categories of distinctive capability which can create competitive advantage: monopoly, reputation, technology and architecture. Nottingham Forest derives its performance by monopolising a unique input: Brian Clough. Manchester United survive on the basis of its reputation. Liverpool's success derives from the club's “architecture”, the structure of contracts and relationships which makes the whole greater than the sum of its parts.
The interaction of growth and competition: the key to understanding Japanese management
Authors: Odagiri Hiroyuki
Published: October 2006

Japanese economic success cannot be attributed to mystical features of Japanese culture, according to Hiro Odagiri in his new book. The style of Japanese management fosters an intensely competitive environment; and that competitive environment makes the Japanese management style a sensible one to adopt. Here, in a preview of his book, the author gives us a brief description of the set of interlocking characteristics that have made Japanese management the focus of so much attention.
“Make or break” strategy: the great Channel 3 licence race
Authors: Cave Martin , Williamson Peter
Published: October 2006

The Channel 3 licence auction provides a classic case of a “make or break”strategy decision. For the Government, it was a mixed success – with successful companies carrying away valuable licences by making the minimum bids – although a fairly exacting test of the principle. For the companies, a world where cost control, and its relationship with quality, was of secondary importance became one in which a cost conscious culture could afford the players powerful advantages – both in winning a franchise and in profitably operating it afterwards. Positioning to survive and prosper in this new world often needs to start well before the make or break point. The key role is understanding the behaviour of competitors, governments and auctioneers or other parties involved.
Why recessions end
Authors: Dicks Geoffrey
Published: October 2006

The recession, which began in the early summer of 1990, shows little sign, nearly two years later, of coming to an end. The precipitous fall of mid‐1990 to mid‐1991 may be over but output is no more than ‘bumping along the bottom'and economic recovery in any meaningful sense remains elusive. For the Conservatives, in the run‐up to the General Election, this was more than inconvenient; for the Treasury which had confidently forecast a resumption of growth in the second half of last year, it raises the question of why the recovery is still not proceeding according to script; for the economist it poses the more general question of why recessions come to an end, and what are the pre‐conditions for economic recovery to take place.
Does strategy matter? An analysis of generic strategies and performance in business service firms
Authors: O'Farrell Patrick , Hitchens David , Moffat Lindsay
Published: October 2006

How relevant is strategy formulation to performance? The empirical study reported here matches samples of business service firms in Scotland and the South‐East of England and classifies them into Porter's generic strategy groups. Differences in performance are then tested using a variety of performance measures. The evidence provides support for the notion of a link between strategy and performance.
Giving Advice to Government: The Case of Russia
Authors: Hay Michael , Peacock Alan
Published: October 2006

The Russian government is currently inundated with advice from international agencies but such advice should be offered cautiously. Evidence gathered by a recent United Nations Mission to Russia suggests that Western experts are giving insufficient consideration to the inter‐relationship between economic and social problems; that the constraints of Russia's historial position cannot be overlooked; that social policies must re‐inforce economic reform; and that there is a compelling case for gradual privatisation if mass unemployment is to be avoided. The priority now is to move from what is to be done to how it is to be done.
Devaluation ‐ Defeat or Golden Opportunity?
Authors: Currie David , Whitley John
Published: October 2006

This paper considers whether the recent sterling devaluation represents a defeat for government policy or a golden opportunity for industrial recovery. It argues that devaluation offers a window of opportunity for higher growth and investment, but that this will disappear after two or three years with higher inflation. The risk is that this may distract firms from the necessity of competing on product and process innovation and marketing. The damage to the credibility of government policy has also been profound.
What is Business For? Ethics and the Aim of Business
Authors: Vallance Elizabeth
Published: October 2006

In an attempt to give business a better image after the recent scandals, managers should not make the mistake of presenting business as having primarily moral, spiritual or social aims. Business's purpose is not to make people better moral agents; Business Ethics must take as its starting point the aim of business itself. This is not to say that business is immoral, or that managers can afford to ignore the interests of constituencies wider than simply their shareholders. It is, however, to say that Business Ethics should be less concerned with fanciful social agenda than with good conduct in business, which must itself be informed by the answer to the question “What is business for?”
Regulation and Competition Policy in Britain and Europe
Authors: Redwood John
Published: October 2006

John Redwood MP, Minister for Corporate Affairs in 1991, spoke at the inaugural LSE Business Performance Lecture about regulation and competition policy in Britain and Europe and the importance of the United Kingdom's programme of privatisation and liberalisation of its markets. These policies ‐ harnessing private capital, opening up markets to competition, breaking monopolies, lowering taxation and encouraging inward investment ‐ have succeeded in changing the fortunes of several crucial industries in Britain. Ultimately however, while government can create the climate, it is up to business to compete, back the right ideas, invest, train its people and know what its customers want.
Measuring the Performance of Banks
Authors: Davis Evan , Gouzouli Claire , Spence Magnus , Star Jonathan
Published: October 2006

Banks do not publish accounts in quite the same way as other companies, and nor should they. But they should not be immune to conventional standards of performance ranking and evaluation. This companion piece to Business Strategy Review articles on measuring company performance applies some performance benchmarking to a sample of European Banks. The result: they must do better.
Polish Economic Transformation: From Recession to Recovery and the Challenges Ahead
Authors: Schaffer Mark
Published: October 2006

The Polish path from planning to markets was dramatic and risky but the benefits are already beginning to show. The Solidarity‐led government introduced simultaneous macroeconomic stabilization and microeconomic liberalization programmes in January 1990. Inflation was successfully brought under control and free markets were rapidly established, but at the same time the country went into a deep recession. However the economy has been experiencing a strong recovery for more than a year, and Poland will probably be the fastest growing economy in Europe in 1993. There has also been major progress in restructuring and, to a lesser extent, privatization. Overall, Poland has made substantial progress towards a West European‐type economy.
The European Consultant: What Motivates and What De‐motivates?
Authors: Hunta John W.
Published: October 2006

Management consulting in Europe has grown rapidly over the past ten years outstripping growth rates in all other major markets. This article reports the findings, over four years, from interviews with 145 management consultants working in Europe. The objective of the interviews was to establish what motivated and what de‐motivated these men and women in their work. The survey was conducted as part of the course‐work of an MBA/Sloan elective in Management Consulting at London Business School. The article ends with what the students felt they had learnt about the work of consultants.
The Drivers of World Prosperity
Authors: Fortin Carlos
Published: October 2006

The Deputy to the Secretary‐General of the United Nations Conference on Trade and Development draws attention to the widening gap between rich and poor countries. Taking a global view, progress towards genuine world prosperity has been unsatisfactory. In this thoughiful speech, Mr Fortin focuses on two driving forces in particular: the role of public policy in the development process, and the contribution of the transnational corporation.
Managerial Competencies: Fact or Fiction?
Authors: Cockerill Tony , Hunt John , Schroder Harry
Published: October 2006

Good managers have always been recognised for their skills. Now, no manager can afford to be without “competencies”. This article assesses the validity of different approaches to this new management magic. Its conclusion for practitioners is: Watch Out! There can be more fiction than fact in this lucrative obsession.
Global Monopolies: No Longer Outside Trade Rules?
Authors: Holmes Peter
Published: October 2006

Within national frontiers, the law has long been used to encourage competition and stop restrictive practices. Not so with trade: or at least, not until the Uruguay Round of trade negotiations was finally concluded last year. This article sets out the implications of the new trade regime and outlines issues of importance to businesses in the next round of trade negotiations.
Starting a New Job
Authors: Bauman Robert P.
Published: October 2006

A lifetime in business inevitably involves many job changes. Robert P. Bauman, Chairman of British Aerospace, has developed his own flexible formula for making the most of the crucial first three months in any new job. He sets it out in this article which is an extract from a speech he gave to MBAs graduating this year.
Isabella Beeton: Management as “Everything in its Place”
Authors: Wensley Robin
Published: October 2006

This article describes the precepts set out in one of the most successful books on management ever written, Mrs Beeton's ‘Book of Household Management’. It then uses her work to throw light on two modern management debates: the relationship between strategic and operations management; and order/bureaucracy as against adaptability/chaos.
Doctoral Research:
Authors: Meehan Sean A
Published: October 2006

Marketing specialists often expect management to accept without further elaboration that “market orientation” is good for all businesses. Yet there is much confusion as to what is meant by market orientation and whether it really is a source of lasting competitive advantage. This article summarises the evidence and argues that, despite some positive pointers, the case in favour remains unproven.
A Marriage of Large and Small: R & D for Healthcare Products
Authors: Fairtlough Gerard
Published: October 2006

The most critical factor for success in the pharmaceutical industry is the discovery of novel drugs that treat major illnesses for which there had been, up to then, only inadequate kinds of treatment. Until a decade or so ago, most drugs were discovered through the in‐house research of major pharmaceutical companies. But now these major companies are increasingly relying on small firms and academia for drug discovery, while concentrating on their core competences of drug development and marketing. A similar pattern is emerging in other parts of the healthcare industry. This article discusses the synergy between small and large firms in healthcare and suggests that this pattern may become a general one for all innovative industries.
Research Round Up:
Authors: Baptists Rui
Published: October 2006

Industrial clustering ‐ the tendency of firms in the same line of business to “cluster” together in the same place ‐ is currently one of the hottest topics in research. But it has a long pedigree. This article summarises the debate, especially in the context of innovation, and points to some of the gaps which future research needs to fill. Whilst the theoretical arguments are well‐developed, empirical work on clusters and innovative activity is more rare.
Transnational Bribery: Is it Inevitable?
Authors: Cockcroft Laurence
Published: October 2006

Transnational bribery has sometimes been seen by companies as an unavoidable part of the price of “getting the deal”. As this article indicates, allegations concerning bribery ‐ which may or may not be valid in specific instances ‐ are common in many industries and many countries; and despite moves to curb it, especially in the USA, it may still be increasing. This article describes the steps which have been taken so far in the OECD and elsewhere to tackle it, ending with the author's own assessment of the most realistic programme for action.
Teachers and Learning: the Organisational Perspective
Authors: Cowen Scott
Published: October 2006

The starting point of this article is that the educational process is usually organised more to suit the convenience of teachers than to maximise learning by students: at worst some teachers simply dispense information and hope it sticks. The author uses the transcript of a four‐hour session with the International Teachers Programme to illustrate how business schools as organisations can improve learning by their students. The process of change which he describes includes defining what to keep of the previous system: as he puts it, “the reason I haven't thrown out contact hours and credit hours as teaching measures is that I haven't found anything better to use”.
The RSA Inquiry: Tomorrow's Company: the role of business in a changing world
Authors: Goyder Mark
Published: October 2006

This article explains the origins of the RSA (Royal Society for the encouragement of Arts, Manufactures & Commerce) Inquiry Tomorrow's Company: the role of business in a changing world, and discusses some of the issues raised in the consultations with business leaders which will be tackled by the Inquiry.
A Rejoinder to a Comment on Cadbury
Authors: Cadbury Adrian
Published: October 2006

In the last issue Terry Arthur made some personal observations on the UK Report of the Committee on the Financial Aspects of Corporate Governance, (The Cadbury Report). To ensure that Corporate Governance acquires a reputation as a reliable journal of report, it is appropriate that we now include a response from Sir Adrian. Editor
Relationship Investing
Authors: Monks Robert A. G.
Published: October 2006

“As the number of institutional investors increased, some prophets said that these investors, moved by their stakes and informed by their expertise, would begin to play in earnest the supervisory roles of the legendary stockholder. But through the 1960's [equally true through the 1990's] the record showed little to bear out the prophecies. The size of their assets commanded respect when institutional investors sought information; by their probing they introduced some fresh surveillance into corporate affairs. Nonetheless, the institutional investors generally behaved as individuals did; like individuals, they expressed dissatisfaction with the government of a corporation by selling out rather than by voting their shares for new men or different decisions. On rare occasions institutional investors cast their weight for a change in top management; rarer was evidence of their influence brought to bear on particular issues of corporation policy.”
Tomorrow's Corporation*
Authors: Monks Robert A. G.
Published: October 2006

What do U.S. share owners really want? What should be the roles of the different stakeholders such as employee owners and institutional investors? In what ways will ownership structures change? What tools will be available for motivating employees, managers, share owners, etc.? What will be the structure of tomorrow's corporation?
Perceptions of Auditor Independence: The Moderating Role of Personality
Authors: Gul Ferdinand A. , Tsui Judy S.L.
Published: October 2006

This study tests the proposition that tolerance for ambiguity, a personality variable, is a significant moderating variable on the effects of management advisory services (MAS), competition and size of audit firm on bankers' perceptions of auditor independence. Using 41 New Zealand bank officers as subjects and a multifactor ANOVA design, this study found that tolerance for ambiguity moderated the effects of MAS and audit firm size on third party perceptions of auditor independence.
On Board Meetings
Authors: Greenbury Richard
Published: October 2006

The debate on whether the roles of CEO and the chairman of the board should be separate continues in both the United States and Britain. The answer must depend largely on what a board does. Here Sir Richard Greenbury, Chairman of the board of Marks and Spencer Plc in the UK provides a personal perspective.
Outside Director Responses to Organizational Decline: Exit, Voice, Loyalty, and Neglect
Authors: Judge William Q.
Published: October 2006

Using previous theory and research on responses to organisational decline, this paper extends the literature into the boardroom to predict outside director behaviour. In so doing, this paper refocuses the corporate governance research towards individual outside directors as opposed to the traditional focus on the overall board. We argue that this contextual and individualistic focus on outside directors’ behaviour may yield some new and useful insights into the corporate governance literature as well as refine and extend Hirshman's theory of responses to organisational decline.
The Board of Directors in Sino‐Western Joint Ventures
Authors: Björkman Ingmar
Published: October 2006

The board of directors has so far been neglected in research on the operations of Sino‐foreign joint ventures, a subject which has not previously obtained any scholarly attention. This paper analyzes the role of the board in the management of Chinese‐Western joint ventures as seen from the expatriate managers' point of view. Qualitative and quantitative data from 33 Sino‐Western joint ventures is presented on the composition of the board, the importance attached to different roles of the board, and the way in which the board functions. An attempt is made to explain variations in the role played by the board in different joint ventures. Suggestions are forwarded to Western companies on how to improve the functioning of the board. Ideas for future research are also presented.
Case Study: Innovations in Corporate Governance: The Mondragón experience
Authors: Turnbull Shann
Published: October 2006

The stakeholder co‐operatives formed around the town of Mondragón in the Basque region of Spain have been outstandingly successful on a number of measures in comparison with other forms of firms. The control architecture within and between Mondragón firms contains a number of innovations and lessons for developing the theory and practice of corporate governance. This paper outlines the 38 year evolution of Mondragón structures.

The control and incentive architecture of Mondragón firms was custom designed according to the nature of both their activities and their principal stakeholders. The resulting unique control arrangements and outstanding performance supports the hypothesis that the structure of governance is a determinant of sustainable competitive advantages. The evolution of Mondragón firms also illustrates the need to consider corporate architecture as a variable at any one time or over time. The Mondragón experience illustrates how the social research approach of ‘action science’ can be used to create competitive enterprises. The paper recommends this approach for developing the theory and practice of corporate governance.
The Transformation of Boards of Directors for the 21st Century: Culture, Power and Accountability
Authors: Thomas Howard
Published: October 2006

The collection of papers in this volume concerns boards of directors – as they are now and how they are likely to be transformed as the world, and organizations, move into the 21st century.