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The purpose of this paper is to assist investment company managers in proactively navigating the risky and ever‐changing market and regulatory environment and to provide an outline for a flexible and robust risk‐based compliance management methodology.

The paper makes recommendations on: becoming familiar with best practices in internal controls and regulatory trends, reassessing compliance management goals and objectives, identifying risk scenarios and related compliance events, designing control systems, updating compliance policies and procedures, and conducting periodic reviews of compliance management systems.

The paper reveals that compliance risks have attained a new level of visibility. To minimize potential hazards, current and evolving risks must be identified, documented and effectively managed by investment firms, regulators and legislators.

The paper provides practical advice by a compliance management systems provider and a consultant specializing in compliance and risk‐based due diligence consulting.

The literature tends to use ‘asylum seeker’ and ‘refugee’ interchangeably, creating uncertainty about the mental health of asylum seekers. However, asylum seekers occupy a unique position in British society which differentiates them from people with refugee status and which may have implications for their mental health. For example, ‘asylum seekers’ are supported and accommodated in dispersal areas under the National Asylum Support Service and they are not entitled to work. This mixed‐methods study investigated asylum seekers' symptoms of psychological distress, using mental health screening questionnaires (N = 29) and asylum seekers' subjective experiences of the asylum process, its potential impacts on their mental health, and participants' suggestions for tackling mental health needs, using in‐depth interviews (N = 8). Asylum seekers, refugees and practitioners working with asylum seekers were consulted from the outset regarding the cultural sensitivity of the measures used. Given the potential limitations of using ‘idioms of distress’ across cultures, interview data provided rich descriptive accounts which helped locate the mental health needs that the asylum seekers experienced in the specificities of each participant's social context. Asylum seekers originated from 13 countries. The results revealed that psychological distress is common among asylum seekers (for example anxiety and post‐traumatic stress), but so are post‐migratory living difficulties (for example accommodation, discrimination, worry about family back home, not being allowed to work). They also report mixed experiences of health and social care services. These results suggest that asylum seekers' unique social position may affect their mental health. Implications for practice are presented and potential limitations highlighted.

Galway provided another example of ‘risk society’ with the outbreak of a parasitic-related contamination of municipal water supplied in 2007. The ‘Galway Water Crisis’ emerged in March of 2007, in the aftermath of an outbreak of the cryptosporidium parasite in the local water system.¹ This crisis reflects the failure to protect large bodies of water such as Lough Corrib from the impacts of human development. As the degradation of water supplies has continued, urban centres such as Galway have had to contend with boil notices, health warnings and a political ‘blame game’ in the run-up to the 2007 election. This chapter will examine the key issues surrounding the water crisis in the west, detailing the costs of this issue to those charged with dealing with it.

The practice of strategic decision‐making has two major perspectives to help managers create and maintain competitive advantage in the face of a range of business challenges. One stresses market position and the other core competence. (1) Market position – the positioning approach to strategy development is associated mainly with the work of Michael Porter; strategic choice is focused primarily on the structure of the industry and how it might be shaped to advantage. The aim is to establish a “privileged”/hard‐to‐replicate position in an industry that is difficult to enter. (2) Core competence – the competence‐led perspective is associated with the work of C.K. Prahalad and Gary Hamel; strategic choice focuses primarily on assessing which distinctive competences should be built, then considers the market opportunities that would exploit them best. It may be tempting to use one approach or the other because the market position and core competence approaches do create perspectives that see things very differently, and their analytical methodologies offer different guidance. But instead of picking one over the other, the astute strategist may be best served to test out both perspectives and generate a wider range of options. This is shown in the article’s illustrations of corporate strategy in the multi‐business firm and strategic renewal. In sum, looking at your business from both approaches will generate two sets of contrasting perspectives and options for action. For many firms, this binocular vision of the available strategic options will lead to a better result than if either perspective was used alone.

Managers in developed countries are increasingly interested in outsourcing as a potential source of competitiveness and value creation. There has been a growing awareness of the potential of outsourcing to support a range of strategies beyond that of lower cost. This article makes corporate strategists familiar with four of the most promising opportunities for using outsourcing strategies – focus, scale without mass, disruptive innovation and strategic repositioning. While assessing the potential of these opportunities in specific corporate situations, strategists also need to look at two of the most significant associated risks – the risk of losing skills that could be key to competing in the future, and the risk of turning to outsourcing at the wrong stage in an industry’s evolution. The article widens managers’ views of the strategic alternatives that outsourcing can be used to support, while making managers aware of the main risks to be weighed in the balance. Case examples of companies that have successfully attempted the four types of outsourcing are examined.

In the last four years, since Volume I of this Bibliography first appeared, there has been an explosion of literature in all the main functional areas of business. This wealth of material poses problems for the researcher in management studies — and, of course, for the librarian: uncovering what has been written in any one area is not an easy task. This volume aims to help the librarian and the researcher overcome some of the immediate problems of identification of material. It is an annotated bibliography of management, drawing on the wide variety of literature produced by MCB University Press. Over the last four years, MCB University Press has produced an extensive range of books and serial publications covering most of the established and many of the developing areas of management. This volume, in conjunction with Volume I, provides a guide to all the material published so far.

This article presents a General Theory of Social Systems. This general theory proposes a model and method for the design, behaviour, and development of social systems. The model advanced is an exposition of the universal composition of social systems in three‐dimensions. The accompanying prescribed method offers dissection and analysis of past, present, and planned systems from Micro to Meta scales in isolation and relation to external systems.

This chapter applies Axelrod’s (1976) and Huff’s (Huff, A. S. (1990). Mapping strategic thought. In A. S. Huff (Ed.), Mapping strategic thought (pp. 88–115). Chichester: Wiley; Jenkins & Huff, 2002) approach to mapping strategic thought (causal mapping) to (1) categorize how manufacturers of new fast moving consumer goods (FMCGs) may respond to environmental feedback to their decisions and (2) assess the effectiveness of alternative implemented decisions in assisting organizational growth. The manufacturing of new FMCGs requires timely product modifications in the assumptions of entrepreneur thinking in response to environmental responses/non-responses to decisions/actions of the manufacturing enterprise. A detailed example of causal mapping analysis is presented for a manufacturing entrepreneurial case study; the example covers processes linking events, decisions, and activities in business start-up, growth, and failure of the enterprise. The chapter closes by suggesting that causal mapping analysis is a valuable tool for advancing theory construction from case study research. The chapter provides a research plan for future reports applying causal mapping in retailing entrepreneur studies.