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This paper aims to provide qualitative insight into a unique, collaborative project undertaken by BAA (Glasgow) and Glasgow Caledonian University (GCU) over a three‐year period at Glasgow International Airport.

The qualitative case evidence is conceptualized within the parameters of current thoughts and practices in Learning and Employability in the contemporary HE sector. Primary data were gathered from 27 students who had engaged on the program and also from BAA operational management staff based at Glasgow Airport. Program management perspectives are provided in order to triangulate the perspectives of all stakeholders involved in the initiative.

This study underlines the increasing importance of such prestigious initiatives to contemporary learning experiences at tertiary level. The students reported a higher level of preparedness for working life from an early stage of their studies and although charged with operational challenges from both a program administration viewpoint and for the industrial partner, BAA proved to be supportive, responsive and flexible with both students and the university itself. Benefits for all three parties are tangible and celebrated with positive prospects for the industry in Scotland.

This paper represents case material from a unique HE/industrial collaboration with a major employer within a UK context.

This chapter compares and contrasts the diverse theoretical foundations of two paradigms in strategic project management. The first, older paradigm, draws on foundational ideas about nature (i.e., it is predictable) and human rationality (strategy and implementation are distinct) to conceptualize project management in terms of controlling predictable project processes and their inherent risks, so that project managers can optimize the trade-offs between timing, cost and quality. The second practice-based alternative paradigm conceptualizes people as sources of deterministic behavior in an otherwise often unpredictable world. Projects are key tools that are used to strategically create this predictable behavior, with project plans being used as scaffolding to help co-ordinate the distributed behavior of systemically connected people in space and time as the project proceeds. The chapter highlights how this second paradigm has a more robust scientific basis, shows how it informed the development of the Heathrow T5 project, and draws implications of for future theory and practice.

This article discusses the key role which HRM can play in strategic change programmes. A theoretical outline is offered which emphasises the strong links between HRM and organisational change literature, with a particular interest in the “soft” and “hard” elements of HRM in the context of change. Two distinct change programmes in two BAA airports, BAA, Glasgow and BAA, Edinburgh, are examined to identify the form and extent of HRM as a catalyst of organisational change.

BAA (formerly British Airports Authority) has a mission ‐ to be the most successful airport company in the world. Training and development are at the heart of the strategies aimed to meet this objective, and BAA aims to become a true learning organization. In seeking to build an environment supportive of organizational and personal learning, BAA created a learning partnership with the University of Surrey/International Management Centres. Describes the virtual‐university support structure which has been created for BAA managers on a range of courses, and outlines the benefits.

Provides insight into the three‐year Scottish Ambassadors project, involving BAA (Glasgow) and Glasgow Caledonian University (GCU).

Describes how the airport employed tourism students, during their studies, to helping with check‐in procedures, promotion of airport facilities, queue control and calming, conflict resolution, language and first‐aid.

Illustrates the increasing importance of initiatives such as Scottish Ambassadors to modern learning experiences. The students reported a higher level of preparedness for working life from an early stage of their studies. Benefits for BAA were also tangible.

Shows how an initiative of this kind can foster links with local communities and how partnerships can be formed between private and public‐sector organizations.

Reveals that BAA, as well as the students, learned important lessons from the program.

To investigate the impact of the federal budget deficit (expressed as a per cent of the Gross Domestic Product, GDP) in the US on the ex ante real interest rate yield on Moody’s Baa-rated corporate bonds and to provide evidence that is both contemporary and covers an extended time period, namely, 1960 through 2015.

The analysis constructs a loanable funds model that involves a variety of financial and economic variables, with the ex ante real interest rate yield on Moody’s Baa-rated long-term corporate bonds as the dependent variable. The dependent variable is contemporaneous with the federal budget deficit and two other interest rate measures. Accordingly, instrumental variables are identified for each of these contemporaneous explanatory variables. The model also consists of four additional (lagged) explanatory variables. The model is then estimated using auto-regressive, i.e., AR(1), two-stage least squares.

The principal finding is that the ex ante real interest rate yield on Moody’s Baa rated corporate bonds is an increasing function of the federal budget deficit, expressed as a per cent of GDP. In particular, if the federal budget deficit were to rise by one per centage point, say from 3 to 4 per cent of GDP, the ex ante real interest rate would rise by 58 basis points.

There are other time-series techniques that could be applied to the topic, such as co-integration, although the AR(1) process is tailored for studying volatile series such as interest rates and stock prices.

The greater the US federal budget deficit, the greater the real cost of funds to firms. Hence, the high budget deficits of recent years have led to the crowding out of investment in new plant, new equipment, and new technology. These impacts lower economic growth and restrict prosperity in the US over time. Federal budget deficits must be substantially reduced so as to protect the US economy.

Higher budget deficits act to reduce investment in ew plant, new equipment and new technology. This in turn reduces job growth and real GDP growth and compromises the health of the economy.

This is the first study to focus on the impact of the federal budget deficit on the ex ante real long term cost of funds to firms in decades. Nearly all related studies fail to focus on this variable. Since, in theory, this variable (represented by the ex ante real yield on Moody’s Baa rated long term corporate bonds) is a key factor in corporate investment decisions, the empirical findings have potentially very significant implications for US firms and for the economy as a whole in view of the extraordinarily high budget deficits of recent years.

Drawing on an original dataset of major European airport companies, this chapter demonstrates the growing role airport infrastructures and their managing authorities have come to play in shaping airport politics that is, how, by whom and where airports are built, modernized and expanded.

Airport infrastructures and companies have received little attention in recent attempts to characterize and explain the transformations of global aviation politics.

This chapter suggests focusing on airport companies as an attempt to characterize their long-term trajectories both in terms of their properties and in terms of their operating contexts.

The chapter shows that airport managing authorities have developed into full-blown economic actors, which enjoy greater levels of autonomy through the systematic accumulation of resources, the diversification of revenues, and new alliances with the global finance and consulting industry. The chapter also discusses the role of privatization as the main driver for change in major European airport markets. Finally, it demonstrates the extent to which the complex interplay between public and private ownership has shaped the rescaling of the territorial dimension of airport activities, thus explaining the limited impact of anti-airport campaigns over the long-term development of major European hubs.

This chapter has larger practical and research implications, as it demonstrates the need to go beyond a functional and context-dependent approach to airport infrastructures and managing companies.

This paper offers a practical overview of the U.S. credit cycle and the challenges it poses, along with a perspective on where we seem to be in the cycle in early 2023. Suggestions are then offered for how corporate executives can address cyclical challenges from a corporate strategy perspective.

The United States credit cycle was out into context by following the trend of Moody’s Baa corporate bond yields from January 1919 to November 2022. Under the Moody’s rating system, Baa is the lowest level of investment grade credit, and as such it possesses speculative characteristics that are sensitive to cyclical dynamics. Another reason for choosing Baa credit patterns for analysis is data availability: over 100-years of continuous Baa data is searchable at the U.S. Federal Reserve.

The prior credit cycle wave of progressively lower inflation and interest rates began in 1982 and ended in 2020. The current credit cycle of wave of progressively higher inflation and interest rates will present strategic risks and opportunities that executives will increasingly have to deal with.

This is the first corporate strategy paper we are aware that practically addresses the credit cycle change. It is also the first paper we are aware that provides practical suggestions on how to address that change from a corporate strategy perspective.

In a review of the literature, supported by six case studies, executive development for senior managers in public and private organisations is explored in depth. The study looks at the roles and responsibilities of the chairman, CEO, executive and non‐executive directors, the required capabilities to achieve successful performance, and the related executive development activity implemented to support these. Methods of delivery, development needs analysis and evaluation are explored in case organisations to ascertain current practice. A detailed review of the leadership and governance literatures is included to highlight the breadth of knowledge required at director level. Key findings of the study include the importance of focusing executive development on capability enhancement, to ensure that it is supporting organisational priorities, and on its thorough customisation to the corporate context. Deficiencies in current corporate practice are also identified.