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Near the end of his life, the eminent literary critic Edmund Wilson was editing his notebooks from the Twenties for publication. At one point he added a long passage on Elinor Wylie, a close friend and successful writer whose work he admired:

From what was said in the previous article on this subject, it is obvious that a new profession has arisen in consequence of the passing of the Food and Drugs Acts, and of the fact that their execution is now compulsory on all the local authorities legally concerned with the matter. This profession, under the fostering influence of certain scientific and academic bodies, now includes a considerable number of individuals who, in their general culture and education, as well as in their special scientific qualifications, are at least on a par with the members of the older so‐called “learned” professions. In the course of the early development of the analytical profession, as a body, the old Society of Public Analysts was a most potent influence for good, and did, and still does under another but unfortunate name, very excellent work in collecting and publishing any additions that are made to our scientific knowledge of matters connected with the analysis and adulteration of food by the scattered workers in this country and abroad.

“It is generally accepted that the food industry must be scientifically based to cope with the problems, particularly of public health, which arise as new processes of growing, manufacturing, packaging and preserving food depart even further from traditional ways.”

The purpose of this study was to identify those factors that are supposed to be the most important in terms of small business success in tourism industry. The empirical data is collected within one region in Finland. The respondents were asked to evaluate the importance of the given factors for the firm's success and how highly the respondent evaluated the company's expertise in each factor in their operations. Questionnaires were sent by mail to a total of 214 tourism businesses. The final response rate was 43% (92 businesses). According to the analysis of the data, the respondents emphasise the importance of customer orientation, good skills in leadership, internal marketing and a good reputation of the firm and the product. The impact of external advice (incubators, consultants, research organisations) was evaluated as the least important factor of success. So, market orientation seems to play a key role in the performance of small and micro tourism firms. Customer orientation is also well mastered according to the businesses. The greatest development needs would be in the areas of price and accessibility, as well as in customer orientation. The results of this study indicate that there are no statistically significant differences in the views held by slowly or fast growing tourism businesses regarding the importance of the success factors. The same factors are considered important and less important in both slowly and fast growing businesses. Neither were there any statistically significant differences in these businesses as to the expertise in these success factors.

The ultimate estimate of the value of any piece of information is measured by the change it creates. This paper considers the problem of utilizing information under three headings:

Almost all people realise in a vague sort of way what inflation means in terms of the purchasing power of the pound ; that prices rise as its value goes down and that if this slowly declining trend is not arrested, then some sort of a crisis looms ahead.

Marketers frequently lament the lack of representation of marketing in the boardroom and the short tenure of CMOs. The most common explanations offered are that marketing is not perceived as a strategic discipline and that marketers do not demonstrate a strong enough understanding of how the business makes money.

Financial accounting is how “score is kept” in terms of business performance. It is, therefore, in the self-interest of marketers to become familiar with financial reporting. Doing so will allow them to understand how marketing activities are recorded. In addition, academic researchers need to understand the meaning of the financial measures that they often use as the metrics of success when researching marketing strategy questions.

This is especially important since financial reporting generally does not recognize assets created by marketing investments. In order to substantiate a claim that “brands are assets”, marketers must be able to explain how the financial accounting rules misrepresent economic reality and why managers might use a different set of principles for management reporting.

We argue that the misrepresentation of market-based assets has two forms of negative impact for marketers: external and internal. The external problems are that financial statements are not especially informative about the value of marketing for the providers of capital and do not provide a true portrait of the economic resource base of the company. The internal problems are that marketers cannot point to valuable assets that they are creating, nor can they be effectively held accountable for the way that these assets are managed given that the assets are not recorded.

We do not expect immediate radical changes in financial reporting because financial accounting rules are designed with the specific interests of the suppliers of capital (debt and equity) in mind. To influence financial accounting developments, such as encouraging greater disclosure of marketing activity in the notes to the published accounts, marketers must be able to communicate in language understood by accountants and the current users of financial accounts. To aid this we provide guidance for marketers on the purpose and practices of accounting. We also discuss how academic marketing researchers might wish to adjust financial accounting data to capitalize a proportion of marketing expenses for companies where marketing is a primary driver of business performance.