How planning and capital budgeting improve SME performance

This paper focuses on the use of strategic planning among small and medium sized enterprises (SMEs) in the UK manufacturing sector. It analyses the relationship between the intensity of strategic planning, business objectives, perceived performance, changes in the business environment and the use of capital budgeting techniques. Capital budgeting is of particular interest as an area of investigation, and is one which has seldom featured in previous studies of strategic planning behaviour. These issues were investigated via a survey of UK manufacturing SMEs carried out in the winter of 1996/97.

The key results suggest that SMEs incorporate a range of objectives into their strategic planning process, with profit improvement perceived to be the most important objective, followed by sales growth. SMEs engaged in detailed strategic planning are more likely to use formal capital budgeting techniques, including the net present value method, which is consistent with maximising the companys' value. Perceived profitability and success in achieving organisational objectives were positively associated with planning detail, suggesting that strategic planning is a key component improving performance. Planning detail was also associated with a significantly higher level of perceived change in the business environment.     

Evidence‐based Management in Practice: Opening up the Decision Process,Decision‐maker and Context

Evidence‐based management (EBM) has been subject to a number of persuasive critiques in recent years. Concerns have been raised that: EBM over‐privileges rationality as a basis for decision‐making; ‘scientific’ evidence is insufficient and incomplete as a basis for management practice; understanding of how EBM actually plays out in practice is limited; and, although ideas were originally taken from evidence‐based medicine, individual‐situated expertise has been forgotten in the transfer. To address these concerns, the authors adopted an approach of ‘opening up’ the decision process, the decision‐maker and the context (Langley et al. ( 1995 ). ‘Opening up decision making: the view from the black stool’, Organization Science, 6, pp. 260–279). The empirical investigation focuses on an EBM decision process involving an operations management problem in a hospital emergency department in Australia. Based on interview and archival research, it describes how an EBM decision process was enacted by a physician manager. It identifies the role of ‘fit’ between the decision‐maker and the organizational context in enabling an evidence‐based process and develops insights for EBM theory and practice.     

Aiming for Excellence: Reflections on the Advanced Institute of Management Research and its Elite

In 2002, the UK government launched the Advanced Institute of Management Research, a major initiative intended to raise the quality of research in business schools. Rather than offering research grants in open competition, AIM deliberately funded a select few leading lights in management. Insufficient allowance was made for the Research Assessment Exercise, which measured research excellence in terms of papers published in top journals. The AIM's elite exploited its existing publishing advantage, and AIM provided further resources to aid their efforts. The AIM recruited willing acolytes to work with its elite in fashioning the sort of papers required by the top journals of management – positive papers, consensual and endlessly citable. Analysis of the publishing patterns of AIM senior fellows reveals research cliques and publication silos rather than a network organization. Much as the elite saw its AIM funding as recognition of its own excellence, so AIM itself came to be seen as acknowledgement of the excellence of management research as a whole. That AIM existed to raise management research from intellectual poverty was forgotten. The AIM was wound up in 2012, having spent £30 million, most of it on the subject's elite. The problems that beset management research remain.     

Creating a Consensus: Psychologists, the Supreme Court, and School Desegregation, 1952–1955

SPSSI psychologists' involvement in the early civil rights movement in the postwar United States was epitomized by their involvement in the case of Brown v. Board of Education. This article examines how social scientists sought to maintain the persona of objective, scientific expert when asked to prepare briefs for the U.S. Supreme Court for the Brown case. The social scientists believed that only by collapsing what they saw as an artificial distinction between objectivity and advocacy could the social scientist become a social activist. This article is based on extensive research in numerous archives, including the papers of Gordon W. Allport, Kenneth B. Clark, Stuart W. Cook, David Krech, the National Association for the Advancement of Colored People, Theodore M. Newcomb, Robert Redfield, and the Society for the Psychological Study of Social Issues.     

Jocks, nerds, babes and thugs: A research note on regional differences in adolescent gender norms

We use data from 1,755 college students to explore regional differences in adolescent gender norms. Students attending four Northern universities and three Southern universities during the 1997–1998 academic year provided information on the ways that adolescents in their high schools had gained prestige with peers. The analyses revealed significant gender differences on fourteen of the fifteen most common avenues to prestige. Leading avenues to prestige for boys—sports, grades, and intelligence—did not vary by region. Leading avenues to prestige for girls—physical attractiveness, grades, and intelligence—also did not vary by region. However, consistent with the stronger emphasis on traditional moral views generally found in the South than the North, regional differences were found for several other avenues to prestige. Her work focuses on the effects of status transitions on intergenerational relations, social support networks, and marital quality. In collaboration with Karl Pillemer, she is currently studying caregivers' social networks during bereavement, and relations between caregivers and nursing home staff. Her research interests include gender stratification, family, and education. Currently, she is a Research Associate on a project examining health consequences of Mexican migration, funded primarily by the Hewlett Foundation (Co-PIs: Katherine M. Donato, (LSU), and Shawn Malia Kanaiaupuni, University of Wisconsin-Madison). Her dissertation is entitled “Wages and Domestic Labor: Explaining the Gender Gap in Earnings.     

ECONOMIC ACTIVITY IN THE SHADOW OF CONFLICT

Appropriation possibilities significantly alter economic fundamentals in a production and exchange economy. This is the primary lesson of our model, which combines Ricardian trade and the potential for predator/prey behavior. The model shows how conflict can be subdued by mutual gains from trade, but at a resource cost that modifies the exchange itself. On the other hand, it identifies conditions wherein appropriation incentives are so strong that specialized production and trade are precluded altogether. The model also reveals a new way to think about and measure the gains from trade. ( JEL C72, D51, D74, F10)     

UNIFORM TWO-PART TARIFFS AND BELOW MARGINAL COST PRICES: DISNEYLAND REVISITED

This paper completely characterizes the demand and cost parameters which induce a constant cost monopolist charging a uniform two-part tariff to choose a marginal price less than marginal cost when selling to two types of consumers with different linear demands. It also provides a quantitative assessment of the potential significance of such pricing. Pricing below marginal cost maximizes profits in large regions of the model parameter space, contrary to widely held beliefs. If fixed costs are zero, pricing below marginal cost can increase profits by a factor of √2, although for most parameters the profit increase is much smaller. ( JEL D42, L11)