The Role of Advertising in the Marketing Strategy of Accountancy Firms: Evidence from a Regional Market

Rules governing the advertising activity of accountancy firms have recently been relaxed. Published evidence is, however, scant regarding the perceived value of accountancy firms' advertising by both users of their services and by business advisers. Building on a conceptual model of the role of advertising in accountancy firms described in an earlier issue of this journal [Watkins and Wright, Service Industries Journal, Vol. 5, No. 3, November 19851, this article presents some results from a recent survey of a regional accountancy market. These results show that a careful examination of advertising within the overall marketing mix is required, with other forms of marketing perhaps offering greater possibilities. The overall conclusion is that the cost-effectiveness of the advertising of accountancy services h s t be open to doubt.     

AN OPTIMAL-CONTROL APPROACH TO STABILISING AUSTRALIAN WOOL PRICES*

In this paper, some aspects of the application of optimal-control techniques to wool industry price stabilisation are considered. It is not intended to provide a blueprint for the immediate adoption of optimal-control techniques in the management of wool price stablisation. Rather, the contribution is to the developmental and evaluative process involved in considering these techniques. A new econometric model of wool price and supply is also presented, since none of the existing models satisfied the requirements of the study.     

A Sociology of Expectations: Retrospecting Prospects and Prospecting Retrospects

Future expectations and promises are crucial to providing the dynamism and momentum upon which so many ventures in science and technology depend. This is especially the case for pre-market applications where practical utility and value has yet to be demonstrated and where investment must be mobilised. For instance, clinical biotechnology (including a wide range of genetic therapeutic and engineering applications) has been at the centre of ferocious debates about whether or not promises and expectations will be realized. In some cases, the failure of expectations has severely damaged the reputation and credibility of professions, institutions and industry. The need for a better analytical understanding of the dynamics of expectations in innovation is both necessary and timely. This paper develops the basis for a sociology of expectations, drawing on recent writing within Science and Technology Studies (STS) and case studies of biotechnology innovation. In particular, we offer a model for understanding how expectations will predictably vary according to some key parameters. Such factors include the degree to which technologies and innovation relationships are either relatively established or newly emergent. Expectations will also vary according actors' relative closeness and involvement in knowledge production itself. The paper proceeds by analyzing the way expectations in clinical biotechnology have changed over time. That is, we compare the way the future was once represented with the way it has been represented more recently. The paper concludes by offering a means by which it is possible to map or model the "situatedness of expectations'.     

Company technology strategy

Abstract
The authors report the results of a small-scale study of the attitudes of 174 British companies to managing their technology. Their data sources were replies to a questionnaire and interviews with 18 senior managers of the respondent companies. They relate their findings to current academic thinking about technolgy strategy, of which a bibliography and critical review is presented in the paper.
The results showed that the firms in the survey did not give much specific attention to technology when formulating their strategies. Some do not have a clear notion of what is meant by 'their technology', and others have difficulty in deciding its character. In any case a 'firm's technology' is usually seen as a cluster of technologies, which is enmeshed in a network of external technologies such as those practised by suppliers and customers, rather than as a single entity. After in-house R&D the most often used forms of technology acquisition are licensing-in and contract R&D. The import of technology presents difficulties, such as codifying it in usable form and making sure that there are in-house staff capable of using it.
The authors conclude overall that few firms in the sample can assess their technological strengths and weaknesses or clearly conceptualize their situation. They remark that academic approaches to technology strategy are oversimplified and do not sufficiently address the main problems in this area, which are to help managers to understand the nature of their technology position and the technological network of which their firm forms a part.