Labour–Intensive Industrialization in Hong Kong, 1950–70: A Note on Sources and Methods

This research note critiques published quantitative sources on employment in manufacturing enterprises during a crucial epoch of rapid industrialization, and uses newly discovered archival sources to investigate organizational dualism, the co-existence of labour and capital-intensive modes of production. New quantitative data demonstrates that a high proportion of the industrial workforce was employed in small enterprises, notably workshops using labour-intensive techniques. New surveys of two ‘traditional’ Hong Kong industries (rattan ware furniture and basket ware; and umbrella making) show that factory, workshop, and home-based production co-existed within the same sector across the whole period, 1950–70.     

Good people: a work in progress

• This article provides some evidence, some insight and some opinion based on a continuously evolving research programme conducted by the Good Agency which attempts to define the reasons that people give to charity. Conclusions are drawn from a variety of research resources and live testing across a wide client base over the last 8 years

Copyright © 2009 John Wiley & Sons, Ltd.     

Business travellers' connections to home: ICTs supporting work‐life balance

This paper examines the role of information communication technology in enabling connections to home for work‐related travellers. Although digital connectivity for work‐related tasks are well researched, the use of digital technology for home communication is under‐researched. The study draws on a qualitative study of UK‐based organisations and business travellers to explore how these travellers use ICTs for personal use while ‘on the move’. The findings reveal that organisations are supportive of work‐life balance for employees, but fail to consider specific needs of those whose work takes them away from home. For business travellers, insights are gained into practices around connecting to home and the value of this virtual presence for relationships with family while absent and work‐life balance. The study identifies and discusses practice occurring around three activities; checking in, maintaining relationships with home and sharing experiences.     

Advertising and monopoly power: The case of the electric utility industry—Comment

Conclusion Clearly, many factors influence the amount and type of advertising undertaken by electric utilities. Collectively, the results of both studies suggest that the relationship between advertising and monopoly power in electric utilities depends crucially on variable definition, model specification, and sample period. It seems reasonable to conclude that the entire issue remains unresolved and may be unresolvable due to changes in FPC and DOE advertising accounts.     

RISK DIFFERENCES AND FINANCIAL REPORTING

Financial leverage as reported by a consolidated financial statement may differ substantially from leverage for the parent company. To assess the financial risk for the parent (not the consolidated entity), employing consolidated data is hazardous; the problem is magnified by the fact that virtually all firms report only consolidated data. Consolidated leverage almost always equals or exceeds parent leverage for a wholly owned subsidiary, and many firms reporting only consolidated data have betas significantly greater than otherwise comparable firms that report both consolidated and parent company information.     

Marketing malpractice: the cause and the cure

Ted Levitt used to tell his Harvard Business School students, "People don't want a quarter-inch drill--they want a quarter-inch hole." But 35 years later, marketers are still thinking in terms of products and ever-finer demographic segments. The structure of a market, as seen from customers' point of view, is very simple. When people need to get a job done, they hire a product or service to do it for them. The marketer's task is to understand what jobs periodically arise in customers' lives for which they might hire products the company could make. One job, the "I-need-to-send-this-from-here-to-there-with-perfect-certainty-as-fast-as-possible"job, has existed practically forever. Federal Express designed a service to do precisely that--and do it wonderfully again and again. The FedEx brand began popping into people's minds whenever they needed to get that job done. Most of today's great brands--Crest, Starbucks, Kleenex, eBay, and Kodak, to name a few-started out as just this kind of purpose brand. When a purpose brand is extended to products that target different jobs, it becomes an endorser brand. But, over time, the power of an endorser brand will surely erode unless the company creates a new purpose brand for each new job, even as it leverages the endorser brand as an overall marker of quality. Different jobs demand different purpose brands. New growth markets are created when an innovating company designs a product and then positions its brand on a job for which no optimal product yet exists. In fact, companies that historically have segmented and measured markets by product categories generally find that when they instead segment by job, their market is much larger (and their current share much smaller) than they had thought. This is great news for smart companies hungry for growth.     

The Federal Deficit and the National Debt

Using historical data from the Office of Management and Budget, the Congressional Budget Office, and the Organization for Economic Co-operation and Development, the author argues that that the current method of expressing the federal deficit and/or debt as a percentage of GDP obscures the danger posed by potentially higher interest rates. While the debt and deficit may still be at manageable levels, the situation could deteriorate much quicker than we might imagine, substantially raising the governments opportunity cost of servicing the national debt and diminishing the economic well being of American business and consumers.JEL Classification H62     

Innovation killers: how financial tools destroy your capacity to do new things

Most companies aren't half as innovative as their senior executives want them to be (or as their marketing claims suggest they are). What's stifling innovation? There are plenty of usual suspects, but the authors finger three financial tools as key accomplices. Discounted cash flow and net present value, as commonly used, underestimate the real returns and benefits of proceeding with an investment. Most executives compare the cash flows from innovation against the default scenario of doing nothing, assuming--incorrectly--that the present health of the company will persist indefinitely if the investment is not made. In most situations, however, competitors' sustaining and disruptive investments over time result in deterioration of financial performance. Fixed- and sunk-cost conventional wisdom confers an unfair advantage on challengers and shackles incumbent firms that attempt to respond to an attack. Executives in established companies, bemoaning the expense of building new brands and developing new sales and distribution channels, seek instead to leverage their existing brands and structures. Entrants, in contrast, simply create new ones. The problem for the incumbent isn't that the challenger can spend more; it's that the challenger is spared the dilemma of having to choose between full-cost and marginal-cost options. The emphasis on short-term earnings per share as the primary driver of share price, and hence shareholder value creation, acts to restrict investments in innovative long-term growth opportunities. These are not bad tools and concepts in and of themselves, but the way they are used to evaluate investments creates a systematic bias against successful innovation. The authors recommend alternative methods that can help managers innovate with a much more astute eye for future value.