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Examines the relationship between competitive strategy and firm size in the UK estate agency industry, by presenting evidence from a recent empirical study of the industry in South West England. The analysis indicates that the industry is generally characterised by differentiation strategies rather than price competition and suggests that this may be attributable to a relative lack of economies of scale and the localised nature of the market. However, different types of firm place a greater emphasis upon different strategic positions. Suggests that small firms wishing to establish a long‐term position in a market in which larger firms are operating need to assess both the market environment and the market position of their rivals if they are to discover particular market niches in which they can develop competitive advantage.

Discusses how recent changes in the European defence market have forced leading defence companies to make significant changes to their corporate strategy. Examines these changes, reviews the existing literature on strategic change in the defence sector and provides a detailed case study of British Aerospace. Shows that the process of strategy formulation is complex and changing. Moreover, makes it clear that the defence market is restructuring at a European and international level and that the process of managerial collaboration is intensifying. Says that the future of the defence industry and the strategic focus of defence firms is thus unlikely to remain in the hands of national governments but will be determined at a European or global level.

Faith‐based activism in living wage campaigns is on the rise. Summarizes recent campaigns to enact living wage ordinances in US municipalities, underscoring the role of community‐church partnerships such as Clergy and Laity United for Economic Justice, National Interfaith Committee for Worker Justice, and other local organizations in the struggle for wage justice. Explores the theological bases of this activism by tracing the evolution of the concept of a just, living wage in Christian social economic thought. To illustrate the historical and philosophical roots of living wage discourse, provides textual analysis of major Roman Catholic and Episcopal Church documents and briefly considers writings by US social economists in the first half of the twentieth century.

This chapter attempts to offer a clearer look at the historical roots of the founding of mutualist finance. Without denying that the various forms of financial mutualism may have legal and organizational roots in ancient times, the author considers what, for contemporary mutualist banks, may constitute the soul.

In its first part, the document presents the individual constructions that existed in the eighteenth and nineteenth centuries, in a context in which economic development and the industrial revolution banished the rules and standards of the former society. It refers to Utopian socialisms as opposed to the scientific solutions proposed for a new social organization and to the new solidarism according to Léon Bourgeois. Christian sources are also called to mind with social Christianity (Protestant) and social Catholicism until the birth of the social doctrine of the Church.

This frenzy of ideas as well as the confrontation with reality led to the birth, in Germany, of the first experiments with alternative finance. This is the subject of the second part of this chapter, which then develops the bank mutualism created by the founding fathers, F.W. Raiffeisen and H. Schulze-Delitzsch.

The historical description of the creation of mutualist banks brings up two major problems when talking about the “other finance”: the interest and activity of the bank. Is an ethical finance capable of proposing a credible alternative? This is a question that needs to be answered in the light of history.

This chapter attempts, more than 150 years after the fact, to demonstrate the ponderous presence of the question and the permanence of the founding ideas in order to comprehend the facts and propose ideas for analysis and construction of an “other finance.”

In response to major changes in the defence market in recent years, many firms have embarked on a process of diversification into civilian markets. Examines some of the impediments to diversification based on the results of a postal survey of defence contractors in Devon and Cornwall. The results imply that problems related to the economic recession, a lack of marketing expertise and the cost of market entry are major hurdles to diversification. A case study of a local firm which has successfully diverisifed indicates that a change in corporate culture throughout the entire production, supply and selling chain is an important ingredient to success. In conclusion, notes that diversification is no simple panacea for companies suffering from the effects of declining demand from defence customers.

Examines national, local and European policy responses to defence cuts by considering a case study of the defence‐dependent region of Devon and Cornwall. It is shown that in the absence of a coherent national government policy and the constraints on local authority finance, European programmes have played an important role in assisting the process of local restructuring. Moreover, the process of bidding for European funds has fostered local cooperation and generated a considerable amount of information concerning the local defence sector.

This essay raises the following question “Does economics have an ethical component?”. In this regard, Mayer finds that two distinct perspectives have unique and continuing significance: the instrumentalist and the personalist. The first, he says, traces its origins to the very beginnings of economics as a discipline, has dominated economic thought ever since, and denies there is a place for ethics in the science of economics. The second is of more recent origin, has been far less influential in shaping economic thought, and insists that economics indeed has an ethical component because economic affairs are human affairs. Mayer states that John Paul II has contributed to the development of the personalist perspective by insisting that humans are more than mere instrumentalities in the process of production. They are human persons first and foremost, with a moral agency which they bring with them to the workplace and the marketplace.