Consumer profiles section: Consumer profiles for conventional bed and waterbed owners in Canada

This study examines consumer profile data on waterbed and conventional bed consumers. Five hundred conventional and waterbed consumers in Canada were randomly selected from two national lists of waterbed/mattress purchasers from 1981 to the present. A 73-item questionnaire was sent by mail to all of the selected respondents. The cover letter stated the purpose of the project; to study why people bought the bed that they are presently using. One hundred and sixty-two completed, useable questionnaires were returned, yielding a response rate of 37%. Following a series of multivariate analyses, a consumer profile for the two bed users was developed. Both groups tended to be married. The conventional bed consumers had: (a) either no children or one child at home; (b) a mean age of 44; and, (c) an average income in the $30,000-$40,000 range. Waterbed consumers had: (a) a mean age of 36, (b) one child living at home; and, (c) an average income in the $20,000-$30,000 range. On the Adorno F scale, the conventional bed user was found to be more conservative and authoritarian as compared to the waterbed user. The results did not support the notion that waterbed users are abnormally sexually-oriented or “kinky”. For both groups, the price paid for the purchased bed fell in the $600 to $650 range. Implications for retailers were discussed.     

Contingent Valuation Versus Choice Experiments: Estimating the Benefits of Environmentally Sensitive Areas in Scotland

This paper reports results from a study of the economic value of the conservation benefits of Environmentally Sensitive Areas (ESAs) in Scotland. The main novelty of the approach taken is in comparing two direct valuation methods, namely contingent valuation and choice experiments, to value these benefits. The Contingent Valuation Method (CVM) is well-established as a technique for valuing the sorts of landscape and wildlife enhancements associated with ESAs. The CVM experiment reported here uses a dichotomous choice format, and includes a new correction for part-whole bias. Choice experiments are much less used as an environmental valuation technique. We note several advantages of such experiments over CVM, and then report characteristic values and ‘programme values’ estimated using the method. This application brings to light some problems in applying the choice experiment method. Finally, we discuss the issue of benefits transfer in the context of these two approaches to valuation.     

Eco-efficiency and firm value

Eco-efficiency refers to a process that seeks to maximize the effectiveness of business processes while minimizing their impacts on the environment. Fundamental to eco-efficiency is adoption of a management philosophy that stimulates the search for environmental improvements that yield parallel economic benefits [President’s Council on Sustainable Development, 1996a. Sustainable America: A New Consensus for Prosperity, Opportunity, and a Healthy Environment. Government Printing Office, Washington DC; President’s Council on Sustainable Development, 1996b. Eco-efficiency: Task Force Report. Government Printing Office, Washington DC; World Business Council for Sustainable Development (WBCSD), 2000. Eco-efficiency: Creating More Value with Less Input. Geneva]. Eco-efficiency is increased by activities that create economic value while continuously reducing ecological impacts and the use of natural resources [DeSimone, L., Popoff, F., 1997. Eco-efficiency: The Business Link To Sustainable Development. MIT Press, Cambridge, MA]. This study empirically examines the proposition that implementation of eco-efficient business strategies is associated with higher firm value. We posit that, firms which adopt eco-efficient business strategies and, as a consequence, achieve reduced costs and increased profits should be more highly valued by the market than similar firms that do not adopt eco-efficient business strategies. Our empirical testing supports this proposition.     

The ownership and use of small kitchen domestic appliances: case study,Liverpool

The nutritional habits of UK consumers have become a cause for concern with an increasing number of people suffering from diseases related to nutrition. The way in which food is prepared may contribute to the nutritional content of the diet. Traditional methods of cooking and eating are being influenced by increased ownership of domestic appliances. This study aimed to carry out a cross sectional study of people living on Merseyside to determine the ownership and use of small kitchen domestic appliances in relation to the possible consequences the appliances may have on the nutrient intake of the individual. An opportunistic sample of 276 female adults aged 25–70 years was recruited from amongst university staff and community groups within Merseyside. Data were collected using a self‐completion questionnaire consisting of questions concerning personal details, the ownership and use of domestic appliances that may influence nutrient intake. The Liverpool John Moores University Ethics Committee granted ethical approval. Microwave ovens, electric toasters and grills were owned by 80% of the population. Coffee makers, handheld electric food mixers, sandwich makers, blenders and food processors although owned by over 45% were used by the majority only once a week or less. Newer items such as a bread maker were owned by 9% who were significantly more likely to have a professional occupation. Those with unskilled occupations were significantly more likely to own a deep fat fryer and least likely to own a food processor. Those aged 25–34 years were significantly least likely to own a handheld food mixer. Households comprised of couples with or without children were significantly more likely to own sandwich makers, bread makers, food processors and handheld food mixers. No difference in the use of the appliances was found with occupational group or age. A large percentage of people own a variety of domestic appliances, the use of which may have a beneficial effect on their nutrient intake, however, it is of concern that those in the lower socio‐economic group were more likely to own appliances that will have a negative effect on their diet.     

The economist’s oath: a review Essay

George DeMartino’s 2011 monograph, The Economist’s Oath: On the Need for and Content of Professional Economic Ethics, provides an excellent basis for the development of a discourse on the ethics of economists. This review focuses on the way in which mainstream economists’ arguments against consideration of ethics follow from their presentation of economics as a purely technical subject, and the implication that this pretense itself is unethical. The complexity of ethical issues within a pluralist approach to economics is explored, ranging from the institutional environment within which economists practice to epistemological questions.     

New Approaches to Business Process Redesign: A Case Study of Collaborative Group Technology and Service Mapping

Whether it is called reengineering, quality function deployment, quality circles, continuous improvement or total quality management, business process redesign (BPR) is occurring in many organizations. In the broadest sense, BPR includes nearly any kind of systematic effort by companies to realign their business processes so that they are more competitive. Successful business process redesign can lead to dramatic improvements in productivity and quality. But BPR typically requires vast amounts of time and money to implement, since extensive employee input is necessary during the redesign process. Group Decision Support Software (GDSS) provides a viable alternative to the traditional BPR approach. GDSS is defined as computer-based information systems used to support intelligent, collaborative work.This technology allows multiple users to meet and discuss topics simultaneously via a computer network, thus increasing employee commitment while decreasing time and cost.This paper describes a business process redesign project that was conducted for a division within a large government agency fall of 1993. The BPR was done using a type of Group Decision Support Software called Group Systems V. A services marketing tool called service mapping was also used to identify customer needs and interfaces. Data were collected throughout the project to measure employee attitudes about the redesign process and the GroupSystems technology. Time to complete tasks was also recorded. The results of the study showed that the business process redesign was accomplished more effectively in a shorter period of time than with traditional BPR methods previously used. Participants also indicated that the service mapping tool provided a perspective that is missing from many BPR approaches: an understanding of the service from the customer's perspective.     

Involvement and opinion leadership in tourism

Nature-based tourism, science tourism, and ecotourism are some of the emerging and growing trends in special-interest tourism. This study utilized a southeastern sample of the United States who had an interest in travel and the environment. A modified Dillman total design method survey was used to collect the data. The study demonstrated that widely used concepts of marketing are applicable for nature-based tourism. Results indicate that highly involved nature-oriented travelers tend to be more receptive to information concerning the travel product or destination and spread that information willingly. Findings of this study suggest that opinion leaders take more trips and use slightly more information sources.     

Governance, organizational capabilities, and restructuring in transition economies

This paper focuses on the links between governance, firm capabilities and restructuring following the large-scale privatization process in Central and Eastern European transition economies using an integrative approach. Restructuring in these countries has been motivated by political and institutional changes and less so by market forces. Accordingly, political processes have produced political solutions such as “give-away” privatizations to insiders. These privatizations, in contrast to divestitures to outside owners, have realized less substantive restructuring because non-market incentives, such as too much managerial equity ownership, have created managerial entrenchment. In addition, we propose a connection between governance and organizational learning suggesting that learning is inhibited by excessive managerial ownership and lack of board knowledge regarding its oversight function. Furthermore, this entrenchment and poor board functioning may be perpetuated in financial-industrial groups, which have emerged as substitutes for market intermediaries in emerging economies. Thus, we propose that outside ownership involvement and the development of organizational capabilities may facilitate restructuring in the Central and Eastern European context. Our theoretical arguments are supported by case study evidence from transition economies.     

Strategic investment flexibility for MNE success in Russia: Evolving beyond entry modes

Many American multinational enterprises (MNEs) are currently active in Russia despite the turbulence encountered in that transitional economy. Most seem to have entered as an extension of their global strategies with a long-term horizon. While some entered with considerable involvement and substantial investment, others followed a more cautious or incremental path. This article focuses on how MNE strategies have evolved after entry and describes six strategic approaches. Strategic investment flexibility is found to depend upon a company 's original entry strategy and tolerance for risk, as well as its assessment of the legal and political environment, industry conditions, market readiness for its products or services, competition, and the investment required to establish a sustainable competitive position. Keys to successful strategy development are drawn from the experiences of US MNEs which have established growing businesses in the vast Russian market. The strategies of such successful MNEs, however initiated upon entry, usually evolved to a relatively heavy investment position.