Best–Worst Scaling Approach to Predict Customer Choice for 3PL Services

This study describes a simple, theoretically based methodology to analyze the nature of customer demand for third‐party logistics provider service components. The method overcomes limitations in prior studies and enables us to examine the relative importance of product and service attributes as they pertain to the choice of third‐party logistics providers. Two distinct types of customers populate our data: those professing operational attributes and those seeking relational attributes. The theoretical and practical implications are that improved supply chain models can be developed when separate demand structures are taken into account.     

The London Business School with Gower Publishing

Collapsing oil prices and a falling dollar set the background to a Budget in which the Chancellor, hamstrung by lower oil revenues, was seen as having little room for manoeuvre. In fact the sharp fall in the sterling price of oil has provided him with the perfect excuse for not making significant cuts in personal income tax that were largely irrelevant to the needs of the economy. Instead of a boost to household demand we have had, thanks to OPEC, a transfer to companies in the form of a reduction in costs. This should enable them to expand output against a background of falling inflation. Our post-Budget assessment of macroeconomic prospects (Section I), made on the Treasury's assumption of a $15 oil price, shows output growing by 2 1/2 per cent this year and inflation falling below 3 per cent in 1987. We are thus less optimistic than the Treasury about output but more optimistic about inflation. How was the Chancellor able, within the confines of the Medium-Term Financial Strategy, to give anything away having lost so much oil revenue? A detailed analysis of the PSBR forecast (Section II) reveals good reasons why non-oil tax revenues should be some £3 1/2n higher than forecast this time last year. But, because we still expect public spending to be above the official figures, our PSBR forecast is £1bn higher than the Treasury's. Although the macroeconomic impact of the Budget was small (especially in relation to that of the fall in oil prices which preceded it), it continued the process of tax reform. We focus, in Section III, on the new proposals to deal with the problem of the pension fund surpluses to which we drew attention in the November issue of Financial Outlook. We conclude that the proposed measures could have a larger effect on tax revenues in the longer term than is indicated by the Treasury's Budget estimates.     

for whom the road tolls

How strong is the case for road pricing? Giles Keating, of Credit Suisse First Boston, argues the case for a comprehensive system of road pricing. It would reduce both congestion and the budget deficit by £16·5bn.     

End the minimum wage debate: Revise the concept itself

The debate over raising the minimum wage focuses on the wrong point. We should be trying to change the concept of minimum wage to one that reflects what it really is—an entry wage. The real issue in the minimum wage debate needs to be one of clarifying the underlying human/social purpose of the minimum wage concept.     

Technology, markets and the design of women's jobs—the case of the clothing industry

The clothing industry has been saved largely as a result of the introduction of new technology in response to an increasingly competitive market place. But what affect has this restructuring had upon jobs? We explore how women workers have experienced this change and why policy-making should consider job design.     

The characteristics and survival of public interest groups

Conclusion There is no reason to assume that pressure groups will further the public interest, however defined. Generally, pressure groups are formed to benefit the members of the group. Those interest groups that form to exert political pressure will be characterized by the distribution of benefits within the group as well as by the net benefits of organizing. These same factors will discourage other groups from organizing. Because of the public good characteristic, pressure groups must avoid the free rider problem. Thus, interest groups tend to be short lived. In the short run, they can solve this problem by providing some divisible benefits, and small groups can use social pressure. In the long run, membership must depend on coercion or institutionalized advantage.     

Education Crisis,Workforce Preparedness,and COVID‐19: Reflections and Recommendations

This article explores the impact of COVID‐19 on the higher education crisis and its implications for workforce preparedness and the future of work. It takes an integrative look at the evolving role of three primary actors involved in higher education: traditional universities, corporate universities, and educational technology companies, before, during, and after the pandemic. We conclude with recommendations for reframing discussions about higher education and workforce preparation to achieve a better balance between the workforce needs of the corporate world and those of society.     

FOOLING ALL OF THE PEOPLE

The public's expectations about government policy are a key influence on the economy and can be more important than the policy itself. By allowing the public to know that it is considering reflation outside the Medium Term Financial Strategy, the government is reducing the credibility of the MTFS. This Forecast Release draws on some of the latest developments in economic theory, in the field of 'time inconsistency', to argue that the early years of the MTFS suffered from continuing but incorrect expectations that the policy would be abandoned. To avoid repeating this mistake, the government should promptly concede the current calls for reflation if it is unable to resist them, although a preferable outcome for unemployment and inflation can be achieved by re-affirming the MTFS. A worse outcome than either of these is obtained if the government continues with the MTFS while leaving open the possibility of a sudden reflation.