Workforce Reduction In Australia and New Zealand: A Research Note

Relatively few studies have examined the incidence of permanent workforce reduction and factors related to workforce reduction behaviour. In this study, such issues are addressed using data from more than 1,450 organisations in Australia and New Zealand. On average, about 36 per cent of respondents reported a permanent reduction of the workforce over the past three years (with an average reduction of almost 19 per cent of the workforce). Several factors, including product or service demand, pressure to focus on short-term profits or budget goals, a major change in organisational strategy, the quality of the relationship between the employer and employees, the organisation's expressed commitment to job security and the age of the organisation, distinguished organisations that had or had not engaged in a permanent employee retrenchment.     

The client as consumer: Marketing the law,clinic-style

In 1977 the Supreme Court ruled that lawyers could not be prevented from advertising their prices for routine services, thus outlawing a long standing restriction imposed by the legal profession on its own members. This decision prompted a ferocious controversy (even for lawyers) over the proprieties of advertising legal services, not to mention the effect that “marketplace ethics” might wield on the delivery pricing, and quality of services offered to the great lay public. This article looks at how legal consumers are affected by the kind of high-volume, low-priced delivery of routine services that can only be offered profitably through aggressive marketing. Then it discusses how one firm used segmentation strategy and a consumer orientation to introduce the clinic concept on the East Coast. Finally, some implications of the immediate future of lawyer marketing for marketing professionals are analyzed.     

Social class and consumer behavior: A review for the 70's

Stratification of American society creates social classes— large groups of people sharing approximately the same life styles who are ranked according to social prestige. Class membership is determined on the basis of occupation, artifacts, association, and influence. Classes themselves are measured empirically through reputational, subjective, and objective techniques. The most popular models of American class structure provide for five or six distinct social strata. In recent years, however, divisions have become somewhat blurred by the spread of affluence and rapid social change. Social class appears to determine buying behavior for some products and services, and may be useful as a basis for market segmentation. School of Business, C. W. Post Center, L.I.U. Rapp & Collins A Division of Doyle, Dane Bernbach Advertising     

Session I: Corporate Purpose and Governance

In this first of five sessions of a recent Columbia Law School symposium devoted to discussion of his new book, Prosperity—and The Purpose of the Corporation, Oxford University's Colin Mayer begins by calling for a “radical reinterpretation” of the corporate mission. For all but the last 50 or so of its 2,000‐year history, the corporation has combined commercial activities with a public purpose. But since Milton Friedman's famous pronouncement in 1970 that the social goal of the corporation is to maximize its own profits, the gap between the social and private interests served by corporations appears to have grown ever wider, helping fuel the global outbreaks of populist protest and indictments of capitalism that fill today's media. In Mayer's reinterpretation, the boards of all companies will produce and publish statements of corporate purpose that envision some greater social good than maximizing shareholder value. To that end, he urges companies to make continuous investments of their financial capital and other resources in developing other forms of corporate capital—human, social, and natural—and to account for such investments in the same way they now account for their investments in physical capital. Although the author appears to prefer that such changes be mandatory, enacted through new legislation and enforced by regulators and the courts, his main efforts are directed at persuading the largest institutional owners of corporations—many of whom are already favorably predisposed to ESG—to support these corporate initiatives. Marty Lipton, after expressing enthusiasm about Mayer's proposals, suggests that mandating such changes is likely neither feasible nor desirable, but that attempts—like his own New Paradigm—to gain the acceptance and support of large shareholders is the most promising strategy. Ron Gilson, on the other hand, after voicing Lipton's skepticism about the enforceability of such statements of purpose, issues a number of warnings. One is about the political risks associated with ever more concentrated ownership of public companies in a world where populist distrust of all concentrations of wealth and power is clearly on the rise. But most troubling for the company themselves is the confusion such proposals could create for corporate boards whose responsibility is to limit two temptations facing corporate managements: short‐termism, or underinvestment in the corporate future to boost near‐term earnings (and presumably stock prices); and what Gilson calls hyperopia, or overinvestment designed to preserve growth (and management's jobs) at all costs.     

PCA oversedation: application of Healthcare Failure Mode Effect (HFMEA) Analysis

Hospital systems utilize many varied problem-solving processes to address system improvements and ensure patient safety. The Healthcare Failure Mode Effect Analysis (HFMEA) model is one of these tools and uses a multidisciplinary team to look at processes, diagramming the steps involved to identify potential failure points. The application of the HFMEA model allowed one large health care system to address a complex process by prioritizing proactive change improvements in order to prevent postoperative patient-controlled anesthesia oversedation events. The changes implemented identified 16 failure points with a hazard score of 16 or greater. One year later, the established system HFMEA goal was met: oversedation events were reduced by 50%.     

Creating a concession climate: the case of the serial downsizers

This paper uses panel data from New Zealand from the years 1995 and 1999 to examine the impact on those organizations, size fifty and over, that engaged in repeat downsizing during this period. It was found that, during the panel period, approximately 20 per cent of the 322 organizations in the survey had engaged in the permanent reduction of their workforce in both periods. When compared with organizations in the survey that had not engaged in downsizing in both periods, it was found that the repeat downsizers exhibited characteristics that were little different from those that had downsized only in the later period, who reported the greatest decline in performance. However, those who had downsized only in 1995 had, by 1999, largely recovered from the initial negative effects. The repeat downsizers appear to have created a long-term concession climate that is associated with negative workplace performance.     

The Demand for Agricultural Economists by Canadian Universities and Governments*

The author reviews the recent history of public support for agricultural economics in Canada, and reports on a survey of present and projected needs for agricultural economists in public institutions. An overall growth in staff requirements of 130 per cent is foreseen from 1969–1975, with the largest increases occurring at the Master's (200 per cent) and PhD. (300 per cent) levels. Areas which are expected to grow especially rapidly include marketing, natural resources, regional development, and interdisciplinary studies. LA DEMANDE EN ÉCONOMISTES AGRICOLES PAR LES UNIVERSITÉS ET GOUVERNEMENTS CANADAIEN5 – L'auteur examine la récente histoire de tappui du public pour l'éiconomie agricole au Canada, et présente un rapport sur un relevé des besoins presents et futurs d'économistes agricoles dans les institutions publique. On prévoit un accroissement général de 130% des besoins en personnel de 1969 à 1975, les plus forts augmentations se sltuant aux niveau de la mattrise (200%) et du doctoral (300%). Les domaines où on s'attend à une croissance particuliegrement rapide comprennent la mise en marché, les ressources naturelles, le développment régional et les études interdisciplinaires.     

Analyst Specialization and Conglomerate Stock Breakups

This paper examines whether firms emerging from conglomerate stock breakups are able to affect the types of financial analysts that cover their firms as well as the quality of information generated about their performance. Our sample comprises 103 focus-increasing spin-offs, equity carve-outs, and targeted stock offerings between 1990 and 1995. We find that, after these transactions, sample firms experience a significant increase in coverage by analysts that specialize in subsidiary firms' industries, and a 30–50% increase in analyst forecast accuracy for parent and subsidiary firms. The improvement in forecast accuracy is partially attributable to expanded disclosure. However, forecast improvements for specialists exceed those for non-specialists, leading us to conclude that corporate focus can facilitate improved capital market intermediation by financial analysts with industry expertise.