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The purpose of this paper is to investigate whether managers can acquire strategic skills using management education methods in lieu of experience. It demonstrates that experienced‐based pedagogical methods can be effective in developing traditional skills or “hard” skills and “soft” skills such as interpersonal communication, which then facilitate the acquisition of strategic skills.

The paper uses data from questionnaires and achievement scores from capstone classes to determine whether exposure to an experiential technique called large‐scale simulation can lead students to acquire traditional, soft and strategic managerial skill sets.

The results show that soft and traditional skills are complementary and together lead to better acquisition of strategic skills and also imply that mastering soft skills may enhance the mastery of traditional skills.

A limitation of the research stems from the use of students as research subjects. While this limits generalizability, it is important to remember that many such students go on to be successful managers in large and small organizations, partly due to their educational background. Replicating these findings with graduate and executive students is required.

A key practical implication is that organizations may be able to effectively supplement their own experienced‐based developmental efforts for their managerial personnel with course‐based learning.

The paper's findings support an option for many firms, although this has not received much direct empirical support. Additionally, the results support the increasing emphasis placed on soft skills, suggesting that development of strategic skills may help managers grasp the bigger‐picture implications.

Since at least the 1970s, the American research university system has experienced episodic periods of austerity, frequently accompanied by expressions of concern about the threats that these conditions pose to U.S. scientific and technological leadership. In general, austerity has been tied to fluctuations in Federal Government funding of academic research and macroeconomic fluctuations that have shrunk state government budget revenues. Even amidst these episodes, the system has continued to expand and decentralize. The issue at present is whether this historic resiliency, of being a marvelous invalid, will overcome adverse contemporary trends in Federal and state government funding, as well as political trends that eat away at the societal bonds between universities and their broader publics. The paper juxtaposes examinations of the organizational and political influences that have given rise to the American research university system, trends in research revenues and research costs, and contemporary efforts by universities to balance the two. It singles out the secular decline in state government’s support of public universities as the principal reason why this period of contraction is different from those of the past. Rather though then these trends portending a market shakeout, as some at times have predicted, the projection here is that the academic research system will continue to be characterized by excess capacity and recurrent downward pressures on research costs. Because the adverse impacts are concentrated in the public university sector, they may also spill over into political threats to the current system of awarding academic research grants primarily via competitive, merit review arrangements.

The global financial crisis demonstrated that monetary policy alone cannot ensure both price and financial stability. According to the Tinbergen (1952) rule, there was a gap in the policymakers’ toolkit for safeguarding financial stability, as the number of available policy instruments was insufficient relative to the number of policy objectives. That gap is now being closed through the creation of new macroprudential policy instruments. Both monetary policy and macroprudential policy have the capacity to influence both price and financial stability objectives. This paper develops a framework for determining how best to assign instruments to objectives.

Using a simplified New-Keynesian model, the authors examine two sets of policy trade-offs, the first concerning the relative effectiveness of monetary and macroprudential policy instruments in achieving price and financial stability objectives and the second concerning trade-offs between macroprudential policy instruments themselves.

This model shows that regardless of whether the objective is to enhance financial system resilience or to moderate the financial cycle, macroprudential policies are more effective than monetary policy. Likewise, monetary policy is more effective than macroprudential policy in achieving price stability. According to the Mundell (1962) principle of effective market classification, this implies that macroprudential policy instruments should be paired with financial stability objectives, and monetary policy instruments should be paired with the price stability objective. The authors also find a trade-off between the two sets of macroprudential policy instruments, which indicates that failure to moderate the financial cycle would require greater financial system resilience.

The main contribution of the paper is to establish – with the help of a model framework – the relative effectiveness of monetary and macroprudential policies in achieving price and financial stability objectives. By so doing, it provides a rationale for macroprudential policy and it shows how macroprudential policy can unburden monetary policy in leaning against the wind of financial imbalances.

This chapter takes a closer look at how social networks can affect the early development of new ventures. The dynamic role of social networks is discussed and exemplified by two longitudinal cases that illustrate the radically different ways in which social networks can influence venture development. These differences relate to social or individual ownership of the innovation process, to risks or opportunities as the focus of attention, and to the creative relationship between networking and financial bootstrapping techniques.

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.

Aarhus Kommunes Biblioteker (Teknisk Bibliotek), Ingerslevs Plads 7, Aarhus, Denmark. Representative: V. NEDERGAARD PEDERSEN (Librarian).