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A case study is given of International Distillers & Vintners (UK) Limited (IDV (UK)) and an assessment made of the viability of translating theory into practice in the real world – the importance of having a strategy, of strategic planning, and having a success factor as a key component of an organisation′s competitive advantage. Following the appointment of a new managing director at IDV (UK) in 1982, three goals were established: (1) to more than double profits within five years; (2) to increase return on capital employed by almost 50 per cent within five years; and (3) to be the outstanding wine and spirit company in the UK. A sound strategy was required to achieve these goals. The historic background of the organisation is given and the strategic position of IDV (UK) in relation to its competitors and market share is described. A review of the state of the market is given and possible areas for expansion discussed. The quality and pedigree of certain brands and the quality and strength of leadership are proposed as the success factors upon which IDV (UK) could build. Details are given of how the organisation built upon these factors to achieve strategic success; the lessons learned; and the level of achievement and success in the marketplace.

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.

The Nature of Business Policy Business policy — or general management — is concerned with the following six major functions:

With the objective of trying to understand and assess the status of delivering business development services (BDS) and identifying the constraints, the Ethiopian Development Research Institute conducted a survey of randomly selected 974 MSEs (551 micro and 423 small enterprise operators) in 2003.

Random, anonymous survey of MSE operators in BDS in Ethiopia.

The results of the survey indicated that there were very limited BDS providers in the sector, which delivered limited services to few MSE operators (very low outreach). MSE operators had very limited vocational and technical training (before starting business), received few short‐term training, extension and counselling, and marketing services. The most important constraints were mainly related to access to markets and finance. Networks or associations in the MSE sector were not used as useful instruments to promote joint marketing. The results of the survey reveal that there is not significant difference based on size (micro and small) and gender in accessing BDS in the MSE sector. Addressing the constraints of delivering BDS requires clarity regarding the roles of facilitator and providers and the use of subsidies during the transition phase. The interventions should focus on delivering BDS on sustainable basis by responding to the needs in the market and providing incentives to the BDS providers, particularly the private sector.

Very few systematic studies of this nature have been carried out in developing countries. The paper offers clear implications for policymakers involved in economic development and poverty reduction.

The notion of constitutionalism and federalism as principal devices for limiting the power of government is central to F. A. Hayek’s political philosophy. A number of political scientists have recently criticized Hayek’s (as well as J. M. Buchanan’s and B. R. Weingast’s) reasoning on this subject for its presumed “neoliberal bias.” This paper reviews this critique and takes it as a challenge to clarify certain ambiguities in Hayek’s – and, more generally, in liberal – accounts of constitutionalism and federalism.

A meta-evaluation is an assessment of evaluation practices. Meta-evaluations include assessments of validity and usefulness of two or more studies that focus on the same issues. Every performance audit is grounded explicitly or implicitly in one or more theories of program evaluation. A deep understanding of alternative theories of program evaluation is helpful to gain clarity about sound auditing practices. We present a review of several theories of program evaluation.

This study includes a meta-evaluation of seven government audits on the efficiency and effectiveness of tourism departments and programs. The seven tourism-marketing performance audits are program evaluations for: Missouri, North Carolina, Tennessee, Minnesota, Australia, and two for Hawaii. The majority of these audits are negative performance assessments. Similarly, although these audits are more useful than none at all, the central conclusion of the meta-evaluation is that most of these audit reports are inadequate assessments. These audits are too limited in the issues examined; not sufficiently grounded in relevant evaluation theory and practice; and fail to include recommendations, that if implemented, would result in substantial increases in performance.

Industrial innovation is a highly valued element of advanced economies which is expected to result in faster economic growth and the social and economic benefits associated with it. But innovation is principally a strategic issue for individual companies and may not be of the quality or quantity required to meet the requirements of particular macroeconomic policies. There is a pressing need to understand better the new product development process within the firm in order to appreciate why managers are rarely responsible for radical innovation. The currently fashionable portfolio approach to business management emphasises the need to administer the product mix as an integrated whole. The problem of accommodating innovative products within the firm's established product mix or portfolio is considerable in view of the need to obtain synergystic effects from the multiplicity of marketing mix components involved. The array of marketing mixes managed by the company comprises its marketing portfolio, a concept which suggests an alternative framework within which corporate innovative strategies can be understood. Analysed within this framework, several practical examples indicate that many companies seek limited, strategic innovation rather than radical new product development. The article suggests that such companies are as marketing‐oriented as they currently need be and that their constrained strategies of innovation make good sense in view of the limits of the product development process as a means of reducing uncertainty.

To achieve a full understanding of the role of marketing from plan to profit requires a knowledge of the basic building blocks. This textbook introduces the key concepts in the art or science of marketing to practising managers. Understanding your customers and consumers, the 4 Ps (Product, Place, Price and Promotion) provides the basic tools for effective marketing. Deploying your resources and informing your managerial decision making is dealt with in Unit VII introducing marketing intelligence, competition, budgeting and organisational issues. The logical conclusion of this effort is achieving sales and the particular techniques involved are explored in the final section.

Traces the evolution of the corporation in England, from Greco‐Roman times to the Joint Companies Act of 1862. The evolution suggests a supply of the corporate form that responded to the demands of the marketplace. With the growing specialization of labour in the markets, the corporate form came to be more specialized itself, ending with the enactment of universally available limited liability incorporation.

In the housing sector in Jordan, sales advertisings are rarely used, though they, potentially, increase profits and sales and expand development geographically. The purpose of this paper is to investigate the use of sales advertising in the emerging housing market in the city of Irbid, Jordan. The aim is to reveal the effect of the use of advertising on sales and production of housing, and the obstacles that developers may face when advertising.

The study elicited data through long, face‐to‐face interviews using semi‐structured and open‐ended questionnaires with 25 private sector developers. The data collected included companies' profiles; housing annual production; geographical location; sales and prices; and marketing and advertising.

The major finding of the study is that the use of sales advertising in the housing market in Irbid is low. The major advertising methods include public relations and word of mouth along with a limited use of newspaper and on‐site advertising. The obstacles developers face include lack of conviction, unawareness about advertising effect, lack of advertising professionals, lack of skills in advertisement designs and inability to afford it.

Future research is needed to undertake statistical references through a comprehensive survey of a large sample of developers from different geographical areas around Jordan.

The study recommends finding means to encourage developers to use advertising and to introduce new media such as the internet.

As the first of its kind, the research pinpoints to developers the value of sales advertising, as marketing concepts, to attract buyers, increase sales and profit and to expand geographically around Jordan.