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An experimental study was conducted in a sample of America’s most successful entrepreneurs and one of comparable large company managers to examine three research questions: Why do some individuals choose riskier ventures than do others? Do managers and successful entrepreneurs perceive new venture risk and potential differently? What accounts for differences, if any, in their decision‐making behavior? The findings are equally interesting for the effects we found and did not find. We found that differences in risk propensity and in situational factors like the market competencies brought to a particular venture influence risky new venture decision‐making; that perceptions of new venture risk and potential differ between managers and successful entrepreneurs, though in a direction opposite to that we hypothesized; and that individual differences, rather than group‐level differences, are primarily responsible for the degree of risk taken by managers and successful entrepreneurs. Taken together, our results call for further research at the marketing/entrepreneurship interface and research into differences between managers and entrepreneurs, using samples of highly successful entrepreneurs and comparable managers in established firms.

This article brings together research perspectives on strategic change and organizational behavior to construct a series of theoretical propositions regarding the likelihood that a firm will undertake a change in strategy. Drawing on the concept of “situational strength”, it is argued that the personality traits of strategic decision makers interact with environmental conditions faced by the firm to influence the likelihood of a firm’s change in strategy. In weak situations, individual differences are likely to exert significantly more influence on the firm’s likelihood of undertaking a strategic change than in strong situations.

Reviews the experiences of three different types of company in various parts of the world, to explain some of the current common concerns in new product research and development.

This briefing is prepared by an independent writer who adds their own impartial comments.

Motorcars, medical equipment, television sets. Ostensibly three products from diverse industries with little in common. Yet what this trio does share is high consumer demand, and what comes with that is intense competition. In order to keep increasingly demanding consumers happy, pressure is on for companies in these sectors to respond quickly to new technologies and deliver them to market at the best possible price. To win attention away from their peers, these firms need to produce consumables with real star quality: the fastest, the flashiest, the most precise. Thus new product research and development has never been more important. Overexposed to marketing gimmicks, customers will now be moved by nothing less than products with proven innovation and quality, which have been designed with them in mind. It is a lesson to be learned as much for giants such as General Motors and Sharp as it is for entrepreneurs searching for the next big thing.

Offers case studies whose example can be widely translated into different sectors.

Identifies key factors in product development strategy that will be relevant to a wide variety of businesses worldwide.

The result of our enquiries (see April issue Library World) as to the present storage of local documents in Public Libraries or Museums, and the existing arrangements therein for their preservation is somewhat disappointing. Some librarians have not replied, and some give scanty information.

We issue a double Souvenir number of The Library World in connection with the Library Association Conference at Birmingham, in which we have pleasure in including a special article, “Libraries in Birmingham,” by Mr. Walter Powell, Chief Librarian of Birmingham Public Libraries. He has endeavoured to combine in it the subject of Special Library collections, and libraries other than the Municipal Libraries in the City. Another article entitled “Some Memories of Birmingham” is by Mr. Richard W. Mould, Chief Librarian and Curator of Southwark Public Libraries and Cuming Museum. We understand that a very full programme has been arranged for the Conference, and we have already published such details as are now available in our July number.

Many jurisdictions fine illegal cartels using penalty guidelines that presume an arbitrary 10% overcharge. This article surveys more than 700 published economic studies and judicial decisions that contain 2,041 quantitative estimates of overcharges of hard-core cartels. The primary findings are: (1) the median average long-run overcharge for all types of cartels over all time periods is 23.0%; (2) the mean average is at least 49%; (3) overcharges reached their zenith in 1891–1945 and have trended downward ever since; (4) 6% of the cartel episodes are zero; (5) median overcharges of international-membership cartels are 38% higher than those of domestic cartels; (6) convicted cartels are on average 19% more effective at raising prices as unpunished cartels; (7) bid-rigging conduct displays 25% lower markups than price-fixing cartels; (8) contemporary cartels targeted by class actions have higher overcharges; and (9) when cartels operate at peak effectiveness, price changes are 60–80% higher than the whole episode. Historical penalty guidelines aimed at optimally deterring cartels are likely to be too low.

Since the first Volume of this Bibliography there has been an explosion of literature in all the main areas of business. The researcher and librarian have to be able to uncover specific articles devoted to certain topics. This Bibliography is designed to help. Volume III, in addition to the annotated list of articles as the two previous volumes, contains further features to help the reader. Each entry within has been indexed according to the Fifth Edition of the SCIMP/SCAMP Thesaurus and thus provides a full subject index to facilitate rapid information retrieval. Each article has its own unique number and this is used in both the subject and author index. The first Volume of the Bibliography covered seven journals published by MCB University Press. This Volume now indexes 25 journals, indicating the greater depth, coverage and expansion of the subject areas concerned.

If additional evidence were needed of the connection between food supply and the spread of infectious disease, it would be found in a report recently presented to the Finsbury Borough Council by its Medical Officer of Health, Dr. GEORGE NEWMAN. It appears that in the early part of May a number of cases of scarlet fever were notified to Dr. NEWMAN, and upon inquiry being made it was ascertained that nearly the whole of these cases had partaken of milk from a particular dairy. A most pains‐taking investigation was at once instituted, and the source of the supply was traced to a farm in the Midlands, where two or three persons were found recovering from scarlet fever. The wholesale man in London, to whom the milk was consigned, at first denied that any of this particular supply had been sent to shops in the Finsbury district, but it was eventually discovered that one, or possibly two, churns had been delivered one morning, with the result that a number of persons contracted the disease. One of the most interesting points in Dr. NEWMAN'S report is that three of these cases, occurring in one family, received milk from a person who was not a customer of the wholesale dealer mentioned above. It transpired on the examination of this last retailer's servants that on the particular morning on which the infected churn of milk had been sent into Finsbury, one of them, running short, had borrowed a quart from another milkman, and had immediately delivered it at the house in which these three cases subsequently developed. The quantity he happened to borrow was a portion of the contents of the infected churn.

This issue is a selected bibliography covering the subject of leadership.