Search results

This classroom activity helps students tie together the concepts of absorption costing for inventory, selling and administrative (SA) cost calculations, and sales price decisions. It shows students how all costs fit together and are used to make business and pricing decisions, synthesizing discrete sections of most managerial or cost accounting books into a complete process. The activity is designed to be run in one 75-minute class session using an Excel template that allows students to focus on business decisions and less on the mechanics of completing calculations. The seven segments of the activity have students calculate target cost, allocate items of overhead into production and service departments, calculate absorption product cost, allocate SA to the production departments, determine the full cost, evaluate product viability, and calculate target price. At the end of the activity, students better understand how all these cost items fit together in a manufacturing setting.

Do digital technologies of early 21st century capitalism promote or reduce consumer sovereignty? This chapter addresses this question by examining John Kenneth Galbraith’s critique of consumer sovereignty during the post-war period of industrial society and looks at the insights he provides to understand the impact of platform capitalism on consumer sovereignty today. This chapter has the following sections: (1) I review the main postulates of Galbraith’s theory; (2) I highlight the main differences between traditional advertising and online behavioral advertising; (3) I explain how online behavioral advertisement strengthens Galbraith’s dependence effect and revised sequence theories; (4) I then discuss normative challenges raised by digital platform corporations to individual sovereignty; and (5) finally, I argue that platform capitalism is a mature form of Galbraith’s “new industrial state.”

Horse racing occupies a significant but separate part of sports gambling provision. The historical importance of horse breeding as well as employment effects have been used to justify the necessity of betting revenue in the horse sector. In the Nordic countries, these arguments are used to organise horse racing separately from other sports betting. In this context, horse racing, and particularly trotting, remains a lucrative sector for horse owners and producers of racing. The current study focuses on the production chains and financial interests behind horse racing in the Nordic countries. We use financial statements and annual reporting of Finnish, Norwegian and Swedish horse betting companies to determine who benefits financially from racing, what kind of production-related interests are involved and whether horse racing produces surplus to societies or merely maintains its own function. The results are discussed in light of the intertwined organisation of horse racing in the Nordics and the role of horses and animal welfare in the production of racing.

Inflation expectations are an important part of the transmission mechanism of the inflation targeting regime. As such, central bankers must study the inflation expectations of economic agents to anchor them close to the level of the inflation target. However, economic agents are affected by the past and current macroeconomic situation when they form their expectations concerning future inflation. Using survey data on inflation expectations in Czechia, we investigate the macroeconomic determinants of Czech analysts' and managers' inflation expectations. We find that both actual and past inflation have a substantial impact on inflation expectations of the agents surveyed. We also identify backward-looking behaviour among these agents: persistence in inflation expectations of up to two quarters was detected. Moreover, financial analysts formed inflation expectations more in line with economic theory, while company managers evinced expectations similar to those of consumers.

This chapter aims to demonstrate how the colonial legacy in general, and in its monetary area in particular, has been one of the major obstacles to African countries' ability to mobilize financial resources for their development. In fact, the monetary systems inherited from colonialism serve as an instrument to plunder African resources and extract surplus for capital accumulation in former colonial powers. One of the best examples is found in the relationships between France and its former colonies in West and Central Africa. The monetary system imposed on those countries is essentially perpetuating the Colonial Pact, under which the role of the colonies is to serve the political, economic, and strategic interests of the colonial power. For African countries, the monetary arrangement, illustrated by the use of CFA franc as their currency, has been a major obstacle to capital accumulation, productive capacity building and effective structural transformation of their economies. Unless African countries break free from the CFA monetary system and reclaim their sovereignty, there will be no development. The struggle for monetary sovereignty in former French colonies is now part of a broader continental struggle to reclaim Africa's sovereignty over its resources and the formulation of its development policies.

On the one hand, there is a long tradition of approaching management control and innovation as opposites that prompt organisational tensions. On the other hand, recent studies have shown that management control may foster innovation and promote innovative behaviour. At the same time, both these perspectives focus on innovation management, and discussions regarding the role of management control in innovation leadership are conspicuously absent from the literature. In this chapter, we analyse how innovation leaders use management control in two service companies. We demonstrate that, in contrast to innovation managers who employ management control systems primarily for planning, monitoring, and evaluation purposes, innovation leaders use management control for advocacy, engagement, and visibility.

This chapter compares research management and administration (RMA) associations worldwide and the existing professional development frameworks (PDFs) for RMAs. The comparison is based on a study of 22 national, European Union (EU), and international RMA associations/networks which was carried out between April and June 2020 and revised in 2022; it aims at providing a comprehensive overview of skills and competences of RMAs as a profession to enable worldwide benchmarking and analysis.

The benchmarking analysis could provide useful information for those working on the development of professional frameworks training targeted at RMAs, or the recognition of RMA as a profession.