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The log‐normal distribution provides a powerful decision tool for assessing the impact of marketing policies upon inventory allocations.

The single-most important parameter of a public procurement system is the threshold above which the framework applies. The optimization problem consists of finding a reasonable trade-off between the gains from public procurement and the administrative costs associated with procurement rules. In the present study, based on a sample of central and local government procurement operations in Sweden, an optimal threshold value in the range of 5,000—6,000 EUR is computed based on the requirement that the average gain should supersede the average cost. If a larger proportion of procurements is required to gain from the regulation imposed, a threshold value of 20,000—25,000 EUR should apply. The general conclusion is that there are strong arguments for maintaining procurement rules below the European Union threshold.

It appears that the role of money as a motivator in work tasks has increased substantially during the past decade. This applies particularly to managerial and executive grades. First, why this might be the case is discussed. Second, the literature on the early research into the pay of the chief executive is reviewed, since a major point of consideration was the relationship between CEOs′ pay and firms′ performance. Third, the evidence on profit sharing and company performance is examined, as it appears that this form of linkage has increased in the last decade, particularly for managerial and executive grades. Fourth, a model for testing the relationship between managerial remuneration and the performance of the firm is presented. This model is then applied to internal and external measures of performance for a sample of 147 firms in the UK electrical and office equipment industry for the year 1987, and conclusions are drawn.

While service scholars see modularisation as balancing the efficiency of standardisation with the value added through customisation the relationships between these concepts are under-theorised. In addition, although information and communication technologies can facilitate all three service strategies, the degree to which they codify service knowledge is not explicitly considered in the extant literature. The purpose of this paper is to develop and validate a model that examines service strategy trajectories by specifically considering the ICTs used and the degree of knowledge codification employed.

This study draws on three qualitative case studies of service departments of firms involved in cardiovascular applications, orthopaedic, spinal and neuroscience product development and information technology support. Data collection involved semi-structured interviews, document analysis and non-participant observation.

Findings show that ICTs were increasingly used to codify both standardised and customised services, though in different ways. For standardised services ICTs codified the service process, making them even more rigid. Due to the dynamic nature of customised services, drawing on experts' tacit knowledge, ICTs codified the possessors of knowledge rather than the service process they undertook. This study also identified a duality between the tacit development of customised services and modular service codification.

The model is validated using case studies from three companies in the medical and information technology sectors limiting its generalisability.

The importance of considering the degree of tacitness or explicitness of service knowledge is important for service codification. The paper provides managers with empirical examples of how ICTs are used to support all three strategies, allows them to identify their current position and indicates possible future trajectories.

The papers main contribution is the development of a model that integrates the literature on service strategies with knowledge management strategies to classify service standardisation, customisation and modularisation in terms of both service orientation and degree of ICT codification.

Provides a framework for analysing the financing of state pensions with a wide range of policy options. Special attention is given, however, to two special cases: the first involves a means‐tested pension similar to the Australian scheme, while the second is similar to the basic pension (the first tier) in the UK. Emphasis is given to the implications of population ageing for pension finance in each scheme; a range of policies can be considered using specially designed computer programs.

Offers the results of an attempt to trace and characterise the origins of what is sometimes termed motivational research. Proclaims that motivational research, complementing formal market research, arises in economic conditions of competitive mass‐production associated with relative affluence and herein is an historical guide to the part played by psychology in modern marketing. Maintains that research effort prior to the introduction of motivational research was concerned with defining markets and developing survey techniques, especially in relation to sampling, questionnaire design, structured interviewing, etc. Concludes that the treatment of many matters of interest here, have had to be relatively condensed but a future article proposes to adjust this.

This article is based on a chapter in a recently published book, “The Manager's Guide to Industrial Relations”, by L. F. Neal and Andrew Robertson (George Allen & Unwin, 25s.).

The purpose of this article is to investigate the problem of international income inequality and the growth rates of different income classes. The Myrdal thesis of the cumulative process of the international mechanism of inequality is challenged. Countries which have reached a certain level of per capita income and have acquired a re‐allocative and transformative capacity grow at an accelerated pace which tends to narrow the gap between them and rich countries. The widely held view that the rich countries become richer and the poor become poorer does not hold without qualifications and further analysis.

It is a widely held belief that labour market failure amongst young people is heavily influenced by formal educational attainments. Few British studies, however, have paid specific attention to the question of what particular level of academic achievement is valued most highly by the market within any period of time. This article queries the focus of earlier research – explicitly concerned with education and labour market fortune – which implicitly suggested that the Certificate of Secondary Education was of prime importance in securing employment for the youngest members of the labour force in recent years. Moreover, it is demonstrated that omitting controls for influences frequently held to be important determinants of educational attainment generates upward bias in the estimated returns to education and thereby inflates expectations as to the benefits likely to follow from even seemingly radical reforms to the formal schooling system.

Suggests that one of the constraints in developing a marketing information system is in the interaction between the systems and personnel involved in gathering, processing and communicating that information. Proposes that a marketing information system is only effective in relation to the motivation and attitudes of individual staff members.