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Boards of directors have been pressed over the past decade to improve their monitoring of a company's economic performance. In addition, legal actions are forcing them to…
Boards of directors have been pressed over the past decade to improve their monitoring of a company's economic performance. In addition, legal actions are forcing them to become overseers of what management does, both in delivering returns to investors and in obeying the various laws to which corporations are subject. But most importantly, boards are being charged with the long‐term responsiveness of the corporation to its economic environment and society. It is these pressures that require the board to take a more effective role in articulating the mission and strategies of the firm, allocating appropriate resources, and ensuring coherent appraisals of those strategies.
If U.S. business fails to make long‐term commitments to R&D in favor of short‐term profits, one can expect competitive advantages to be lost to the Japanese.
This paper essentially shows how a recently‐developed model called the alternative classification scheme (ACS) may be used in the context of the newly‐industrializing…
This paper essentially shows how a recently‐developed model called the alternative classification scheme (ACS) may be used in the context of the newly‐industrializing economies (NIEs) of the Asia‐Pacific region, possibly the most rapidly‐rising players in the world economy. After nearly a decade of research into Asian economic development strategies, the authors consider future development alternatives. Using the ACS, the authors broadly categorize the range of available strategic alternatives that will drive the NIEs’ development strategies, and discuss the results of such application.
Boards of directors have been the subject of growing concern over the past decade. Today, pressures are building for increased reform within the corporate boardroom. An…
Boards of directors have been the subject of growing concern over the past decade. Today, pressures are building for increased reform within the corporate boardroom. An apparent increase in director responsibilities and liabilities makes this subject an issue of deep and current concern to the whole corporate community. Such varied sources as the SEC, the courts, Ralph Nader, Professor Stone, Authur Goldberg, and others have made suggestions for reform ranging from federal chartering to placing outside and public directors on boards, with separate staffs to serve these outside board members. If we are to preserve our present free‐enterprise system, then we must work quickly to develop our corporate boards into effective operating units.
A majority of director attention has recently been given to the problem of how a director discharges his duty to stockholders and protects himself from legal liabilities…
A majority of director attention has recently been given to the problem of how a director discharges his duty to stockholders and protects himself from legal liabilities. In an effort to show their “due diligence” in exercising the care that “a prudent man would use in the conduct of his own affairs,” directors have begun to place increased emphasis on staying informed of the corporation's health and operations, as well as ensuring that publicly issued documents are accurate representations of the firm's status.
This paper aims to examine how firms, operating in mature and growing industries, can improve the alignment of their operations strategy to fit situations characterized by…
This paper aims to examine how firms, operating in mature and growing industries, can improve the alignment of their operations strategy to fit situations characterized by varying rates of industry growth and technological changes.
The authors enhance the operations strategy typology presented by Lei and Slocum by incorporating an enhanced set of competitive priorities and supporting structure/infrastructure requirements into their four cell matrix. They then introduce a stage‐based model of environmental dynamism and complexity that can foster major transitions in operations strategy.
Industry growth and technological change interact to create alternative environments with varying levels of dynamism and complexity requiring realignment of operations strategy. With increasing rates of technological change, the authors emphasize an urgent need to include innovation as a competitive priority (along with cost, quality, delivery and flexibility) to proactively adapt operations strategy to fit changing environments. It is also necessary for managers to ensure a fit between their competitive priorities and the development of supporting structures/infrastructures to ensure effective implementation of competitive operations strategy.
Operations strategy literature has not focused attention on the basic goals and capabilities needed to implement or adapt to today's dynamic environments. This study adds innovation as a competitive priority and improves our understanding of adaptation of operations strategy to alternative environments created by the interaction of industry growth and technological change. Specifically, by focusing on competitive priorities and supporting capabilities in dynamic environments, the authors provide directions for implementing changes to operations strategy.
The Bureau of Economics in the Federal Trade Commission has a three-part role in the Agency and the strength of its functions changed over time depending on the preferences and ideology of the FTC’s leaders, developments in the field of economics, and the tenor of the times. The over-riding current role is to provide well considered, unbiased economic advice regarding antitrust and consumer protection law enforcement cases to the legal staff and the Commission. The second role, which long ago was primary, is to provide reports on investigations of various industries to the public and public officials. This role was more recently called research or “policy R&D”. A third role is to advocate for competition and markets both domestically and internationally. As a practical matter, the provision of economic advice to the FTC and to the legal staff has required that the economists wear “two hats,” helping the legal staff investigate cases and provide evidence to support law enforcement cases while also providing advice to the legal bureaus and to the Commission on which cases to pursue (thus providing “a second set of eyes” to evaluate cases). There is sometimes a tension in those functions because building a case is not the same as evaluating a case. Economists and the Bureau of Economics have provided such services to the FTC for over 100 years proving that a sub-organization can survive while playing roles that sometimes conflict. Such a life is not, however, always easy or fun.
We publish this month a report of a case which was recently heard by the Stipendiary at Middlesbrough, in which a Co‐operative Society was summoned for being in possession of meat which was condemned as tuberculous and as unfit for human food. In view of the magisterial decision, it is of interest to review the facts of the case. It appears that Inspector WATSON visited the defendant society's slaughter‐house, and that he saw there several carcases hanging up and an employee dressing a carcase which was obviously tuberculous. In reply to Inspector WATSON'S demand, the internal organs of the animal were produced and were found to be covered with tuberculous nodules. Dr. DINGLE, the Medical Officer of Health, accompanied by Mr. G. ANDERSON, the Chief Sanitary Inspector, subsequently visited the slaughter‐house and agreed that the carcase was undoubtedly tuberculous and quite unfit for human food. Accordingly they seized the carcase which was subsequently condemned by order of the magistrate. When the defendant society was summoned before the Court, the counsel for the prosecution pointed out that when Inspector ANDERSON visited the slaughter‐house he asked the slaughterer why he had continued dressing the carcase when it was obvious to anyone that the meat was tuberculous. The condition of the carcase was not disputed by the defendants, but it was contended that the slaughter‐house was under the control of the manager and that no carcase would be removed until it had been inspected by him. In view of this contention for the defence, the magistrate held that it had not been proved that the meat was intended for human food, despite the fact that the diseased internal organs had been removed, and that the carcase had been dressed as if it were intended for use as food. If the decision in all such cases rested upon evidence of a similar nature, it is obvious that the Public Health Acts would become inefficient and useless, inasmuch as it would only be necessary for a defendant to state that any diseased meat found in his slaughter‐house was awaiting the inspection of the manager, and then the law could not interfere. Such a condition of things would obviously be unsatisfactory. The Stipendiary observed that the prosecution was justified, and commended the ability with which the Health Department carried on its work.
The following classified, annotated list of titles is intended to provide reference librarians with a current checklist of new reference books, and is designed to supplement the RSR review column, “Recent Reference Books,” by Frances Neel Cheney. “Reference Books in Print” includes all additional books received prior to the inclusion deadline established for this issue. Appearance in this column does not preclude a later review in RSR. Publishers are urged to send a copy of all new reference books directly to RSR as soon as published, for immediate listing in “Reference Books in Print.” Reference books with imprints older than two years will not be included (with the exception of current reprints or older books newly acquired for distribution by another publisher). The column shall also occasionally include library science or other library related publications of other than a reference character.