Dimensions of customer orientation: An empirical investigation of the UK financial services sector

The UK financial services industry has experienced a number of sharp discontinuities in its marketing environment in recent years. These have ranged from changing demand patterns to wholesale deregulation and market liberalization. International competition and new entrants exploiting technological innovations have also added to the turbulence in what has been a traditionally parochial and stable sector. Under these conditions, it is to be expected that companies would develop a much sharper customer focus and, if they are to survive and prosper, that they would adopt the core principles of the marketing concept. In this paper, the findings of research which tests this assumption amongst merchant banks, retail banks, insurance companies and building societies are presented. Conclusions are drawn which indicate that there is a growing awareness of the need for a marketing orientation and that some sectors appear to be more customer‐orientated than others at this point in time. Despite this, there is also evidence that in some sectors marketing myopia may be masquerading as marketing orientation and that much work needs to be done to more fully realize the ideals of the marketing concept.     

Asymmetric Adjustment in the City of London Office Market

Earlier estimates of the behavior of the City of London office market are extended by considering a longer time series of data, covering two full cycles, and by explicitly modeling asymmetric space market responses to employment and supply shocks. A long run structural model linking real rental levels, office-based employment and the supply of office space is estimated and then rental adjustment processes are modeled using an error correction model framework. Rental adjustment is seen to be asymmetric, depending both on the direction of the supply and demand shocks and on the state of the space market at the time of the shock. Vacancy adjustment does not display statistically significant asymmetries. There is also a supply adjustment equation. Two three-equation systems, one with symmetric rental adjustment and the other with asymmetric adjustment, are subjected to positive and negative shocks to employment. These illustrate differences in the properties of the two systems.     

Technological change and participation in work organization: recent results from a European Community survey

In 1987–8 a large attitudinal survey covering all twelve Member States of the European Community was carried out by the European Foundation for the Improvement of Living and Working Conditions in Dublin which focused on various aspects of participation by employee representatives in new information technology. This paper presents evidence on one of the central trade union concerns about technological change – that of work organization.

The paper first sets out an explanatory framework which is based on much of the literature, surveys and case-study evidence on the impact of new technology on work and employment. Second, the explanatory factors are used to explain the wide diversity in the levels of participation in work organization across the Community. The paper concludes that there is a significant North/South divide, with the northern EC Member States, particularly Denmark, Germany, the Netherlands and Belgium having much higher levels of participation in work organization than their Mediterranean partners.     

Explaining International Differences in Genetically Modified Food Labeling Policies*

Many countries have adopted labeling policies for genetically modified (GM) food, and the regulations vary considerably across countries. We evaluate the importance of political‐economic factors implicit in the choice of GM food labeling regulations. Using an analytical model, we show that production and trade‐related interests play a prominent role in labeling decision‐making. This conclusion is validated by an empirical analysis of GM food labeling policy choices. We find that countries producing GM crops are more likely to have less stringent labeling policies. Food and feed exporters to the European Union (EU) and Japan are more likely to have adopted stricter labeling policies. Labeling regulations in Asia and Europe are similar to those of Japan and the EU. Countries with no labeling policies are less developed, with important rural sectors and are more likely to have ratified the Cartagena Protocol on Biosafety.     

Food shopping and town centre vitality: exploring the link

Retail decentralization is associated with town centre decline and a concern for revitalization. Using the case of Llanelli, South Wales, the effects of a new food superstore on shopping behaviours and opinions are explored. Surveys in 1997, 1999 and 2001 reveal a dramatic change in patterns of food shopping, but no real change for purchases of clothing or DIY goods. Disadvantaged consumers, the carless and the elderly, were already heavily reliant on town centre shops before the opening of the new superstore and changes in their shopping patterns were no different from other shoppers. The 'social' vitality of the town centre increased, as did shoppers' satisfaction with town centre shopping, but major spin-off shopping or 'economic' vitality has not yet occurred.     

Sinking Ships? Liberal Theorists on the American Economy

In the Asia-Pacific region, the conditions and consequences of East Asian success have understandably attracted more attention than the causes and implications of North American failure. In the American case, any failure must be relative when the US remains a bloc-sized market and the only surviving superpower. Thus, for Asians the US figures economically as an export opportunity and socially, for puritans like Lee Kuan Yew, as a warning about decadence. The discussion among Americans is altogether more interesting. This article analyses the debate about national competitiveness among American liberal democrats like Magaziner, Reich, Tyson and Krugman and looks behind the differences of position that separate these protagonists, with two conclusions. First, as the old 1980s problem of national uncompetitivencss is jettisoned in the 1990s; all the liberals now agree that Americans are no longer in the same boat, that while some are becoming increasingly successful, others are sinking fast. Second; the protagonists have moved from an industrial policy fix in the 1980s to an end of policy era in the 1990s where the question for American liberals is whether and how the political system can absorb the stresses createted by increasing inequality.     

The Leasing Decision: A Comparison of Theory and Practice

The UK leasing industry has grown dramatically in the 1980s. The academic literature suggests that there are two major reasons for leasing—taxation benefits and off-balance sheet financing. Recently taxation and financial reporting changes have substantially reduced the taxation and off-balance sheet financing benefits from leasing. Against this background a postal questionnaire survey of the opinions of UK financial managers on various issues relating to finance leases was undertaken. This paper reports on the findings of the questionnaire survey. A distinguishing feature of the survey is that the replies were analysed by various financial characteristics of the responding companies.     

Direct and representative participation in Europe: recent survey evidence

Despite the wealth of literature on HRM and employee involvement, now there has been a remarkable lack of large-scale survey evidence on the diffusion employee involvement in work organizations in Europe. This gap in large-scale survey evidence on the diffusion of direct employee participation has now been filled representative sample of workplaces in ten major European Union countries which commissioned by the European Foundation for the Improvement of Living and Working Conditions in Dublin (the EPOC project). It is by far the most comprehensive overview of the implementation and effects of direct employee participation of its kind. The paper shows that, on the basis of the EPOC survey results, there appears to considerable gap between the rhetoric and reality of direct participation. The paper shows that while the incidence of different forms of direct participation was widespread ten countries, the scope, in terms of number of issues involved and the number of given to employees, was relatively limited for most direct participation forms. The survey also showed that the introduction of direct participation posed little threat to trade representatives. Indeed, works councils and union representatives were in most 'agents of change' rather than barriers to the development of the more intensive practice of direct participation.