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The overwhelming frequency of failure in trying to bring a safe and effective biotech, pharmaceutical or medical device product to market is truly astounding. This research synthesizes industry leaders' insights on lessons learned from reflecting on professional disappointments.

This research used a qualitative approach to learning from the Chief Executive Officers (CEOs), Chief Scientific Officers (CSOs) and Chief Medical Officers (CMOs) of the most successful life science firms in the USA. A total of 45 industry leaders were interviewed regarding their lingering regrets about their career misadventures.

Regrets were unavoidable because there were opportunity costs for every choice each leader made. Commentary about wisdom gained comprised themes regarding valuable time lost, strategies that could have been enacted, products that failed and essential personnel who were not managed optimally. Contrary to expectations, there was little mention of money that was squandered.

Not felt as a solely negative emotion, regrets were recognized by these leaders as a potentially positive influence on their future decisions. Not felt as a solely negative emotion, regret was recognized by these leaders as a potentially positive influence on their future decisions. This exploratory study suggests that learning from retrospective and anticipated regrets benefits life science leaders in gaining clarity of thought regarding their current business challenges. Because prior research on the value of psychological regrets has mostly relied on limited samples, this inquiry contributes a new vantage point by examining a unique population of senior business leaders, thus providing broader applicability to the organizational literature.

Discusses the problems of trying to match the information systems learning needs of small and medium sized enterprises (SMEs) to what higher education can offer. Most higher education institutions are directly trying to address the training needs of SMEs, spurred on by various Government initiatives. Much of the available funding is targeted at the introduction and development of new technologies in SMEs. The information systems education and training requirements of SMEs are reviewed and examined against the changing face of Higher Education. A series of studies was undertaken to examine the information systems learning needs of a small number of diverse SMEs. The results of these studies are discussed and compared with the outcomes of previous research into learning in SMEs and similarities and dissonances highlighted. The paper concludes with a discussion as to whether higher education can meet some of the information systems learning needs of SMEs.

In little more than one year, seven vendors have introduced CD‐ROM‐based public access catalog systems. They vary widely in price, features, and performance. Three scenarios are defined, which represent the requirements of libraries of diverse sizes and groupings. For each scenario, prices of CD‐ROM systems are compared for the first and subsequent two years. The features of the systems are also compared in some detail. The prices and descriptions of features reflect the marketplace as of late summer 1987.

Long-term interest rates of small open economies (SOE) correlate strongly with the USA long-term rate. Can central banks in those countries decouple from the United States? An estimated Dynamic Stochastic General Equilibrium (DSGE) model for the UK (vis-á-vis the USA) establishes three structural empirical results: (1) Comovement arises due to nominal fluctuations, not through real rates or term premia; (2) the cause of comovement is the central bank of the SOE accommodating foreign inflation trends, rather than systematically curbing them; and (3) SOE may find themselves much more affected by changes in USA inflation trends than the United States itself. All three results are shown to be intuitive and backed by off-model evidence.

Publication of the Aslib Year Book is to be discontinued. A full and up‐to‐date list of Aslib members will be published in 1963.

Paul Outlet. International organisation and dissemination of knowledge: selected essays of Paul Otlet translated and edited with an introduction by W. Boyd Rayward. Amsterdam: Elsevier, 1990. xi, 256 pp. $115.50/Dfl.225. 0 444 88678 8. (fid 684) Paul Otlet was born in Brussels in August 1868 and died there in December 1944. A lawyer who grew to be ‘bored with the law’ and became absorbed with books, libraries and information, he is probably principally remembered in connection with the Universal Decimal Classification (UDC).

THE editor of this journal has asked me to write about “Bookish Scotland,” taking the “broadest view of the subject.” But when I come to think of it, I wonder if there really is any such entity as a “Bookish Scotland.”

TIME and Motion/Work Study faces a major issue today and it has got to be solved—quickly. Either it rises in a unified manner to the tasks Industry has allotted it, or it expends itself in shrill quarrels about controlling its destiny.

MANY and sundry are the worries which fall to the lot of the librarian, and the matter of book‐repair is not the least among them. The very limited book‐fund at the disposal of most public library authorities makes it imperative on the part of the librarian to keep the books in his charge in circulation as long as possible, and to do this at a comparatively small cost, in spite of poor paper, poor binding, careless repairing, and unqualified assistants. This presents a problem which to some extent can be solved by the establishment of a small bindery or repairing department, under the control of an assistant who understands the technique of bookbinding.