Optimising relationship marketing programmes: a holistic approach

Optimising relationship marketing programmes in terms of the mix of marketing activities represents a daunting task; however, it is crucial for the formation of successful marketing strategy. An analysis of research into optimisation of marketing programmes reveals models largely focus on the optimisation task, but fail to present a holistic view. Whilst adopting a systematic approach, this paper develops a model for judging the appropriateness of a relationship marketing programme from the optimisation standpoint. As such, relationship marketing programme optimisation is treated as a complex problem consisting of three partial problems related on a parametric basis. These are forming an optimal relationship marketing programme, measuring return on relationship marketing activities and calculating costs of such activities. The methods applied integer programming, multiple regression analysis, factor analysis and heuristic algorithms. The model was tested by using large-scale data on 40,000 SMEs provided by a bank. The results showed a dramatic increase in efficiency when optimising marketing decisions by applying the suggested model. This paper is among the first to present such a holistic approach and to offer an original framework.     

Measuring retail productivity: monetary vs physical input measures

The issue of productivity measurement has been extensively debated in the literature. However, no consensus on the proper measures of retail inputs has emerged. The purpose of this research was to examine the use of monetary versus physical measures of productivity inputs using Cobb-Douglas production functions. The results indicate that the elasticity estimates of monetary measures are empirically equal to physical measures of retail input. The findings further suggest that monetary measures are appropriate when market imperfections are controlled. In addition, it is suggested that physical measures of retail inputs fail to capture the heterogeneity of units when used at aggregated levels. This paper concludes by providing a platform for further discussion on retail productivity measurements.     

Enhancing Statistics Education by Including Qualitative Research

In this paper, we propose to re‐examine the role of qualitative thinking in the early stages of learning statistics and, where relevant, integrate selected elements of qualitative research methods into statistics curricula. We believe that this can help to improve statistics education, deepen desired student understanding of the role of statistics in providing answers to real‐world problems and address recurring concerns about student motivation. The paper clarifies the logic underlying our proposal, examines existing connections between qualitative and quantitative research during instruction that often go unacknowledged and can be built upon, explores practical implementation issues and discusses advantages as well as limitations of the proposed approach.     

Investment and Finance in de novo private firms: Empirical Results from the Czech Republic, Hungary and Poland

In this paper we use a survey of 281 Czech, Hungarian and Polish newly-established small private firms in order to shed some light on the constraints these firms face in the credit market. The results of our survey show that imperfections in capital markets in Central European economies do not seem to actually inhibit the growth of new private firms. Credit markets do exist for de novo private firms in the three Central European transition economies studied, and they provide quite a large amount of financing from an early stage of the existence of firms. Financial intermediation works reasonably well as far as de novo private firms are concerned: loss-making de novo firms have a lower probability of getting credit than profitable ones. Banks protect themselves against the risk of a deteriorating pool of borrowers by requiring collateral for their loans. We do not find convincing evidence concerning the existence of adverse selection. Loss-making firms are not ready to pay higher interest rates than profitable firms and are not more likely to ask for credit than profitable firms.     

'Best practice' human resource management: perfect opportunity or dangerous illusion?

In recent years there has been a considerable degree of interest in the notion of 'best practice' HRM, inspired at least in part by the work of Jeffrey Pfeffer. Along with other contributions from the UK and the USA, this has resulted in assertions that a particular bundle of HR practices can increase profits irrespective of organizational, industrial, or national context. In this paper, we focus on the way in which HRM is characterized in these writings, querying whether the practices which are typically assumed and put forward as 'good' may not appear quite so beneficial to workers when analysed more systematically. It is suggested that there are a number of problems with the notion of 'best practice', both in relation to the meaning of specific practices, and their consistency with each other, and the claims that this version of HRM is universally applicable. The unitarist underpinnings of this literature are also exposed. This is not to argue that HR policies and practices do not influence organizational performance but, rather, that we cannot determine this from the current literature. The 'best practice' conclusions may be attractive but the jury is still out.     

The emerging aversion to inequality

This paper provides evidence of the changing attitudes to inequality during transition to the market in Poland. Using repeated cross-sections of the population, it identifies a structural break in the relationship between income inequality and satisfaction. Whereas in the first stage of the transition process, an increase in income inequality was interpreted by the population as a positive signal of wider opportunities, later in the transition period increased inequality became a factor in dissatisfaction with the country's economic situation. This was accompanied by increasing public sentiment that the process of income distribution is flawed and corrupt.     

The impact of Investors in People: a case study of a hospital trust

This article reports on case study research conducted in a hospital trust and explores the impact that the Investors in People award had on employees. Investors in People is widely seen as the principal mechanism for increasing workforce skills within a voluntarist system as well as supporting ‘good’ employment policies. Yet in this case study, as elsewhere, most of the ‘soft’ HR initiatives had existed prior to accreditation and the internal marketing of corporate value statements was met with both amnesia and cynicism. More worrying, training activity was focused on ‘business need’, which was defined in the narrowest sense, with the result that some employees had fewer opportunities for individual development. Motivation and commitment levels were high, staff were enthusiastic about their work and many actively engaged in training and development. But this owed little to Investors in People, and its impact here raises questions about its influence on skill levels more broadly.     

Implementing IFRS: A Case Study of the Czech Republic

This empirical paper presents a study of the implementation process for International Financial Reporting Standards (IFRS) in one of the accession countries, the Czech Republic. Based upon a review of the legislation, institutional framework and context, and drawing upon recent interviews with Czech companies required to prepare IFRS accounts, auditors and institutional players in the Czech Republic, the paper highlights some of the key issues that are arising with the move to the implementation of IFRS reporting for listed group companies and other enterprises in the Czech Republic.

The paper considers the issues that arise when implementing new accounting regulations, some of which are not new and have been well covered in the literature, but others of which are particular to the implementation of IFRS reporting. The method of implementation, the scope of IFRS, particular issues with local accounting practice and IFRS, the issue of enforcement of compliance with IFRS and its relationship with audit, the link between IFRS reporting and taxation and the provision of education and training are all considered. There is also a review of the state of preparedness of local group listed entities with respect to the implementation of IFRS reporting.

There are many potentially rich areas for accounting research where the work could also inform the practice of IFRS accounting. The paper provides a contribution by highlighting how one country has moved to implement the requirement for group listed enterprises to prepare IFRS accounts and the issues that then arise for legislators, preparers and users.     

Employment relations,cost minimisation and inter‐organisational contracting

This article explores and theorises the employment relations consequences of cost minimisation in the management of inter‐organisational contracts for less‐skilled work. Case‐study data reveal that cost minimisation creates and exacerbates employment relations problems, with the ‘success’ of particular tactics dependent on the relative tractability of broader economic conditions and social relationships.