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To provide insights as to the determinants of profit‐sharing plan (PSP) adoption, as well as conditions that underlie their successful implementation.

The sample comprises strategic business units (SBUs) within a large financial services organization, some of which voluntarily adopted a PSP while others did not. All sample SBUs face similar economic and market conditions. Through a logit analysis, we identify determinants of PSP adoption. Through longitudinal cross‐sectional design, we assess the impact of PSP adoption on earnings growth, as well as conditions that underlie successful implementations.

Larger SBUs as well as SBUs exhibiting superior asset growth are more likely to adopt a PSP than other SBUs. Prior earnings performance is not found to be a determinant of PSP adoption. PSP adoption translates into superior earnings growth, but such impact quickly declines over time. Among PSP adopters, earnings growth following PSP adoption is greater for SBUs that adopt late (late adopters) and for those which had poor prior earnings performance.

Limited external validity as the analysis is performed within a single North American organization.

PSPs are found to be an effective performance turnaround tool. In addition, their limited life cycle suggests that continuous reinforcements and communications are needed to maintain effectiveness.

In contrast to most prior research that uses multi‐industry samples, the paper relies on a unique organizational database that controls for confounding factors and different earnings generation processes. Moreover, the paper provides additional insights as to the conditions for success.

The purpose of this study is to test a model where human resource inputs (e.g. motivation, employee skill) and human resource processes/practices (e.g. training and development; profit sharing) are hypothesized to contribute uniquely and positively to organizational outputs, i.e. job performance and firm performance.

The cross‐sectional study consisted of 350 business professionals (91 percent managers; 9 percent consultants) from a midwestern US professional organization who took a battery of survey measures via the internet.

After statistically controlling for the background variables (organizational type, size and status), the hierarchical regression analyses demonstrated that both the human resource inputs and process/practice variables explained statistically significant variance in each of the nine regression models. The effect size in each model was medium to large.

The findings illustrate the considerable utility of researchers and managers examining the entire human resource system of an organization when searching for productive leverage points to improve organizational outputs like job and firm performance. The results suggest that human resource managers can have a positive influence on firm performance through implementing and supporting organizational policies and procedures that serve to positively motivate workers (e.g. reasonable incentive compensation and rewards, fair grievance procedures, and performance management), and learning and development activities that stimulate optimal task and contextual job performance.

Amid an increasingly turbulent and competitive business environment, strategic marketing plann‐ing is typically referred to as the management discipline which enables the firm to improve its competitiveness by becoming more responsive and adaptable to changing market conditions. Most of the literature, however, deals with the application of strategic marketing planning as it relates to big business. By contrast, this article provides an understanding of how all the key principles can be applied in the smaller business, in the form of a practical framework for plan development. In addition, it features a case study showing how a small UK‐based computer company used the framework to develop its marketing plan.

All management development programmes set out to train managers to manage the link between a stable, loyal workforce, cost control and the organisation's overall strategy. This career development is a catalyst which leads to assertive action to provide employment security rather than job security. This in turn leads to redeployment of human resources based on a more sophisticated match between profitability needs of the organisation and the expressed work, job and career needs of each employee. The steps of the career‐counselling process and the kinds of managerial competencies a management development programme should help managers acquire are outlined. Through explicit managerial attention to career development and counselling these will have a positive, organisation‐wide impact.

The purpose of this paper is to identify the conceptual underpinnings of the theoretical weaknesses of extant research investigating the HRM‐Organizational Performance Link (hereafter HRM‐P Link).

The paper reviews a number of different empirical approaches to the HRM‐P Link and reflects upon, and defines, theory, focusing upon two important dimensions: prediction and explanation. The paper also discusses why the field in its current guise cannot sustain a commitment to explanation, so that under‐theorisation and lack of explanatory power go hand‐in‐hand. It then tackles the possibility that theoretical underpinnings for empirical research on the HRM‐P Link might come from other disciplines such as economics. The paper also begins to set out a meta‐theoretical alternative.

The paper finds that: theoretical underpinnings will not emerge and develop simply by doing more, and/or better, empirical work; meta‐theoretical problems besetting the paradigm are actually far worse than is usually recognised; and attempts to borrow theories from other disciplines have not been successful.

The paper shows that this is a broad and complex field and it has been necessarily selective in its evaluation. It does, however, signpost additional writing in this area to complement the word limit it faces here.

The paper shows that both organizations and researchers need to think more robustly about the meta‐theoretical underpinnings of the relationship between HRM practices and their capacity to enable people to perform. It is hoped that renewed meta‐theoretical debate will be triggered in this direction.

This paper is the only critical review of the meta‐theoretical underpinnings of the HRM‐P field.

Senior management in the newly privatized water companies have been keen to secure employee commitment to the new commercial goals they are now pursuing. Considers the use of profit sharing as a rhetorical device for this purpose. The introduction of profit sharing schemes was intended by management not only to assist in the construction of a new version of organizational reality, but more particularly to communicate to organizational members the quite different ideological conceptualization of organizational purposes and activities associated with the change in status from public sector water authority to private sector water company. Reports research based on documentary evidence and interviews with managers from six of the new water companies which provides scope for comparisons between the companies high‐lighting different interpretations of the role profit sharing may play in the processes of organizational change.

Examines the implementation of profit sharing and employee ownership schemes, uses some case examples to show how the popularity of these concepts has grown over the years. Presents the results of recent research on top management views of such schemes, which show a high percentage of managers in favour of them in order to encourage employee involvement and commitment. Looks at the gains and benefits that may follow as a result of these schemes, but also warns that there may be problems too if the schemes are not properly thought out.

Profit‐sharing and employee share ownership schemes have attracted great interest in the 1980s. The findings of the first phase of a Department of Employment study which involved a large‐scale investigation of British companies is reported. Details on the operation, coverage and type of scheme which had been adopted were gathered for 822 firms and extended interviews were conducted with a further 303 firms. A highly varied rate of adoption of schemes in different industrial sectors and with diverse economic and industrial relations experiences is revealed. If further advances in profit‐sharing and share ownership are considered to be worthwhile, policy initiatives should be centred on the medium and smaller companies in Britain. Considerable efforts outside the financial sector are necessary to effect any marked acceleration of profit‐sharing and share ownership. If future developments are envisaged senior management of the main types of enterprise are a vital target group. Foreign‐based companies should also be encouraged to embark on profit‐sharing or share ownership. If the advancement of more specific Inland Revenue APS schemes is to become general policy, information and advice for companies outside the financial sector is needed.

I point out also that there are 1,800,000 more owner‐occupiers since 1979 — a policy fought tooth and nail by the Labour Party; that there has been a dramatic extension of share ownership as with British Telecom and an increase in the number of employee share option schemes.

This book is a policy proposal aimed at the democratic left. It is concerned with gradual but radical reform of the socio‐economic system. An integrated policy of industrial and economic democracy, which centres around the establishment of a new sector of employee‐controlled enterprises, is presented. The proposal would retain the mix‐ed economy, but transform it into a much better “mixture”, with increased employee‐power in all sectors. While there is much of enduring value in our liberal western way of life, gross inequalities of wealth and power persist in our society.