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The purpose of this paper is to argue that human resource development (HRD) needs to embrace and include futures and foresight learning (FFL) as a new addition to its field of theorising and practice. The question to consider is: How can FFL become a new feature of HRD? A key part of the authors’ argument is that the inclusion of FFL will enable HRD to add to the success of any organisation and make a vital contribution to the management of people at work.

This paper firstly considers some of the debates surrounding the meaning of HRD. The authors suggest that instability of the time serves to disturb any comforts that have been created in HRD and that there is a need to consider how there might be different futures for what we still call HRD in research, practice and praxis. This paper then considers how FFL might become one possibility for expanding the existing boundaries of HRD. The authors characterise futures and foresight as a learning process, which provides new but complementary features to what is already considered as HRD. This paper will show how FFL can lead to organisation's success and the way this can be achieved.

There is a wide variety of meanings of the term HRD; however, HRD is still cast as a “weakened profession” which has to play a subservient role to others in the workplace. Over the last 15 years, the expansion of the meaning of HRD has been seen as evidence of its evolving and emerging nature and development based on a co-creation with other disciplines. This creates a space for FFL, defined as an ongoing learning process to find predictable, probable, possible and/or a variety of long-term futures. FFL embraces three key processes of scanning, futuring and reconfiguring, all of which contain a high potential for participants and others to learn as they proceed, providing outcomes at each stage. FFL has been shown to enhance organisation performance and success and HRD interventions can play a key part in implementation. This represents a significant opportunity for the HRD profession to move from weakness towards strength.

For HRD researchers, while FFL is not yet on its radar, the authors would argue that the uncertainties of the future require that more attention be given to what might lie ahead. Indeed, HRD researchers need to ask the question: What is the future of HRD research? In addition, if the authors’ call for FFL to be included in the practice of HRD, such practice will itself provide new pathways for HRD research. Further research questions might include: To what extent is FFL practiced in organisations and what role do HRD practitioners play in delivery? How does FFL impact on organisation behaviour and outcomes? What new products and services emerge from FFL? What new skills are required to deliver FFL? Can FFL enhance the status of HRD practitioners in the work place and its role in decision-making? and How can the HRD profession develop as a hybrid profession with respect to machine learning (ML)/artificial intelligence (AI)?

FFL produces outcomes that have importance for strategy, HRD practitioner can learn to facilitate FFL by action learning and in leadership development programmes. FFL offers a significant opportunity to enhance the importance of HRD in organisations and beyond. FFL offers those involved in HRD a significant opportunity to transfer ideas into practice that have an impact on organisation sustainability. HRD can play a significant role in the design and delivery of ML and AI projects.

This paper concludes with a call for embracing FFL as a challenging but important addition to how we talk about learning at work. The authors argue that FFL offers a significant opportunity to enhance the importance of HRD in organisations and beyond. At its centre, FFL involves learning by people, groups, organisations and machines and this has to be of concern to HRD.

The purpose of this paper is to determine if there is a link between corporate shareholder value creation and economic growth. The first objective of this paper is to determine which specific shareholder value measurement best explains shareholder value creation for a particular industry. The next objective of the study is to establish, for each of nine different categories of firms examined, a set of value drivers that are unique and significant in expressing shareholder value for that particular category of firms. Lastly, the relationship between shareholder value creation and economic growth is tested.

To quantify and measure value creation, the paper investigates the various value creation measurements that are being applied. The next step is to ascertain whether various industries have different value creation measures that best explain value creation for the respective industries. Then, the value drivers of these specific value creation measures can be determined and their relationship with economic growth tested.

The results of this study indicate that each industry does have a specific shareholder value creation measurement that best explains shareholder value creation for that industry; for example, for five of the nine categories (industries) that were analyzed, market value added was found to be the best shareholder value creation measurement, but for capital-intensive firms and manufacturing firms, the Qratio is the best measure, while for the food and beverage industry, the market to book ratio was found to be a better measure of shareholder value creation than other measures tested. It was further found that an increase in corporate shareholder value creation is to the detriment of economic growth.

The contribution of the present study is its determination of a unique shareholder value creation measurement for particular industries. In addition, a specific set of variables per industry that create shareholder value is identified. Lastly, the important link between shareholder value creation and economic growth is exposed.

The paper provides a detailed historical account of Douglass C. North's early intellectual contributions and analytical developments in pursuing a Grand Theory for why some countries are rich and others poor.

The author approaches the discussion using a theoretical and historical reconstruction based on published and unpublished materials.

The systematic, continuous and profound attempt to answer the Smithian social coordination problem shaped North's journey from being a young serious Marxist to becoming one of the founders of New Institutional Economics. In the process, he was converted in the early 1950s into a rigid neoclassical economist, being one of the leaders in promoting New Economic History. The success of the cliometric revolution exposed the frailties of the movement itself, namely, the limitations of neoclassical economic theory to explain economic growth and social change. Incorporating transaction costs, the institutional framework in which property rights and contracts are measured, defined and enforced assumes a prominent role in explaining economic performance.

In the early 1970s, North adopted a naive theory of institutions and property rights still grounded in neoclassical assumptions. Institutional and organizational analysis is modeled as a social maximizing efficient equilibrium outcome. However, the increasing tension between the neoclassical theoretical apparatus and its failure to account for contrasting political and institutional structures, diverging economic paths and social change propelled the modification of its assumptions and progressive conceptual innovation. In the later 1970s and early 1980s, North abandoned the efficiency view and gradually became more critical of the objective rationality postulate. In this intellectual movement, North's avant-garde research program contributed significantly to the creation of New Institutional Economics.

The relationship between trust, accountability and procedural justice is studied via research into British credit unions (CUs) following regulatory reform to remedy problems exposed by the 2007–2008 global financial crisis.

Interviews at 13 case studies of different types and sizes of credit unions in Glasgow, Scotland, are examined using template analysis and abductive theorizing to understand the effects of disproportionate reforms on small credit unions.

Smaller credit unions found three regulatory changes – namely dual regulators, increased minimum reserves and introduction of the Senior Managers and Certification Regime – excessive. Excessive change generated distrust in regulators. Regulators' insufficient attention to procedural justice contributed to this distrust.

Linkage of multidimensional confluent trust to a multilevel system of accountability provides an original way of understanding how indiscriminate attempts at trust repair damage some elements of trust in formal regulatory systems. Recognition of the need for procedural justice to enable smaller credit unions to articulate their extant checks and potential exemption from formal regulations provides another valuable contribution. The explanation of the abductive logic employed is also original.

This chapter on anti-racism struggles applies an anti-racist activist framing, both critically examining and recognising the milestones achieved through centuries of pro-justice and anti-racism struggles. It delves into the arduous journey that the global fight for racial equity has undergone and highlights the significant progress as well as setbacks experienced during this lengthy struggle. The earliest history of the fight against racial oppression and domination goes back to anti-slavery and anti-colonial movements. Scholars have analysed the emergence, development and state of global anti-racism struggles in a variety of ways. I approach this subject from a sociological perspective, highlighting the role of social structures, groups and institutions that have contributed to shaping the outcomes of anti-racist initiatives. While recognising the role of individuals and leading political activists, this chapter emphasises anti-racism as a collective social justice struggle. To do this, I explore various local and global anti-racism endeavours and examine how they may influence discussions on race, racism and racial equity and their evolving trajectories across different societies.