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This paper aims to show why public acclaim is not always a guarantee for healthy profits. A low-cost forerunner, Laker Airlines, also discovered this same fact to its fatal cost. A company needs to understand its true value proposition and ensure that customers are willing to pay for it. Ryanair was adored by the public when it began its low-cost flights from Dublin to London in 1986. That love nearly drove it to bankruptcy. Today, despite its poor image, it is one of the most successful and profitable companies in the industry.

The article analysis of the changing fortunes of Ryanair from its launch to its near bankruptcy in 1991 and then its revival of fortunes. It draws a parallel with Laker Airlines and the low-cost transatlantic Skytrain. Adulated by the public, the company folded in 1982. It is supplemented with research the airline industry and low-cost business models.

The article shows why companies should not fall into the trap of believing that a good public image will be the necessary condition for maintaining a sustainable competitive advantage. They need to fully understand the value proposition and what a customer is willing to buy.

1982 saw the world aircraft market slip even deeper into recession. Only 33 civil wide‐body aircraft were sold during the year, a mere 10% of 1979's total and 21% of 1980's.

The purpose of this research is to identify how managers can apply the results of academic research into the concept of business models for creating and evaluating possible models for their businesses.

A review of the literature is followed by two case studies, from the airline and logistics industries, followed by recommendations based on both.

The findings are that there is relatively weak consensus among academics as to the definition and meaning of a business model and its components, and that the notion of generic business model applies better within rather than between industries, but that the discussion is a very fertile one for developing recommendations for managers.

The managerial implications of the study are that in their planning and strategizing, managers should factor in a proper analysis of the business model they currently use and one that they could use.

The study provides a useful addition to the literature on the practical implications of business models.

DURING the late 40s the impetus given to air transport development by the war began to spread to some of the then more remote parts of the world. The lack of certain parallel developments on the ground became apparent, in particular the need for better communication facilities and air traffic control. War‐time necessities had led to the building up of satisfactory communications and an air traffic control system in Europe and parts of the Middle East, but the operational needs of airlines now had to be met outside these areas, for example in North Africa, Central Africa, and the area around the Arabian or Persian Gulf as it is variously called. This led to the formation of International Aeradio Ltd. in 1947.

The purpose of this paper is to assess the long‐term opportunity (or lack thereof) for Wal‐Mart in the UK. Wal‐Mart is the world’s largest retailer and the UK market offers a logical next step following Wal‐Mart’s 1997 entry into the European market via Germany. Retail internationalisation is discussed and how Wal‐Mart might enter the UK market. Wal‐Mart’s North American growth is attributed to a unique organisational culture, low cost operating procedures and a significant consumer impact related to the determinant low price, assortment, service and community support store choice attributes. These attributes are discussed in a UK context and conclude that the UK workforce would respond positively to the front‐line empowerment of the “Wal‐Mart Way”. UK consumers also would support the unique Wal‐Mart retail proposition. In terms of efficient supply chains, however, Wal‐Mart will not offer any significant competitive advantage over UK retailers.

This paper aims to review previous work in the domain of marketing accountability, an issue which has become of increasing concern to chief executive and financial officers. It principal purpose is to attempt an elementary epistemology, with a view to setting a research agenda for scholars in finance, microeconomics or marketing.

The paper consists of a relatively catholic literature review of the domain of marketing accountability, exploring its antecedents in related domains such as strategy and finance and then proposing a research agenda.

Much confusion exists in the literature about the dimensions of marketing accountability. This review specifies a researchable model of the domain of marketing and proposes three related areas – the micro‐promotional level, the strategic level and the financial, shareholder value added level and suggests an agenda for research for scholars.

Because of the enormous breadth of the related domains of strategy and finance, the author had to adopt a somewhat normative approach based on his own research outputs in order to make the literature review manageable. While the proposed research agenda is justified by the foregoing review, it is recognised that other models may well be possible.

There is a growing body of evidence, amounting to what might be described as a “clamour” from the world of practice for more structure and guidance in the relatively under‐researched domain of marketing accountability. This paper attempts to meet this challenge.

Much of the research emanating from the Cranfield Research Clubs is original, such as, for example, the model for marketing due diligence described in the paper.

In the July issue of Aircraft Engineering the Comment was made that there were a number of lessons to be learned arising from the losss of the DC‐10 at Chicago O'Hara International Airport on May 25th 1979 and subsequent consideration of the events that followed; it was also said that no comment would be made until after completion of the investigations by the FAA.

REDUNDANT managers and executives can up‐date their existing skills or train for a new occupation on courses run by the Manpower Services Commission under their Training Opportunities Scheme.

The Chromalloy American Corporation have recently acquired a sub‐licence from Rolls‐Royce Limited for the use of the Bristol Aerojet Limited Tribomet composite electro‐plating process, which is already used by Rolls‐Royce in the U.K. and Canada.