Service transition strategies of industrial manufacturers

Manufacturers are increasingly adopting service based strategies to maintain competitiveness in the face of commoditization, slower growth, and declining profitability in core product markets. The objective of this study is to explicate the transformation process towards services in more detail. We find that manufacturers develop product related services through a dedicated service division designed to exploit the commercial opportunities of servicing an installed base of equipment. At the same time, the strategy of integrated solutions is utilized to enhance the competitiveness of their core product offering under industry conditions which make it difficult to maintain competitive advantage purely through technological leadership. These logics are investigated through case studies of two industrial manufactures.     

Identifying value conflicts between stakeholders in corporate travel management by applying the soft value management model: A survey in South Africa

Four stakeholders are involved in corporate travel: management, travellers, travel suppliers and travel management companies. A successful corporate travel management process is dependent on cohesion of values between these stakeholders and pursuit of common goals. Value conflicts can influence the effective management of the process. The purpose of the study was to propose a model which recognises value conflicts, the interdependence of stakeholders and incorporates common goals. The so-called ‘Soft Value Management Model’ was selected and conceptualised in the context of corporate travel management. This study defined and surveyed each stakeholder group in terms of their values and objectives on travel management information; travel policy and compliance; travel management company partnerships; and travel expenditure processing. Quantitative and qualitative techniques were used. The results show that value conflicts exist between stakeholders. The model provides a theoretical foundation against which an effective travel management process can potentially be measured.     

The influence of retirement systems on the free movement of persons in the European Union

Retirement systems within the EU are extremely complex, and regulations concerning age of retirement and qualifications for benefits differ considerably from country to country. The effects of working in another country are not transparent and can even have a negative effect on a migrant’s pension. The low migration figures between EU countries are partly a result of this situation. What changes could realistically be made in order to encourage more migration?     

Finitely additive economies with free extremely desirable commodities

Continuing the investigation on finitely additive economies with infinite dimensional commodity space, we state a core-walras individualistic equivalence for an economy where preferences admit a summable map of extremely desirable commodities. The main result extends previous equivalences obtained both in the countably additive and in the finitely additive setting. Extra assumptions on the model are discussed via a pair of examples.     

Employee empowerment in manufacturing: a study of organisations in the UK

Based on a postal survey and interviews, this paper analyses employee empowerment in the UK manufacturing industry, including how it is pursued and perceived, and the key factors that determine success. Success seems to depend on far-reaching changes in procedures, hierarchies and reward structures. This need to mobilise individual agents and structure reconfirms the agency-structure duality.     

Privatisation in transition: the Czech experience

This article explores a stage in the capitalist transformation of the Czech Republic in early 1993. Three levels of change are examined: institutional developments in industrial relations; perceptions of change among union policy makers; and attitudes and experiences of managers and workers at workplace level.     

Corporate Financing Decisions and Non-Debt Tax Shields: Evidence from Italian Experiences in the 1990s

Between 1995 and 1999, Italy experienced three episodes of fiscal reform during which different categories of non-debt tax shields were introduced, including a classical investment tax credit, a system of dual income taxation, and an investment tax credit restricted to equity financed investments. Using the balance sheets of a large sample of Italian companies, we construct a data set which allows us to evaluate the impact of the different fiscal interventions. We apply MacKie-Mason's (1990) method to study incremental financing decisions using discrete choice analysis. The analysis shows that the measures introduced were successful in reducing the advantage of debt financing relative to equity financing. We relate the findings to the current literature on the determinants of capital structure. JEL Code: G32, H25