Questions for Kaleckians: a response ∗

In the previous article Ian Steedman raises a range of issues in connection with the Kaleckian treatment of prices. In this article, I argue that many of the points raised are misplaced whilst others do make a positive contribution.     

Acquisition,affinity and rewards: Do they stay or do they go?

Customer relationship management seeks to understand how to generate profitable customers who enter into a long-term relationship with a firm. In this paper, we examine the role of modes of acquisition and retention programmes on customer lifetime in the context of a credit card issuing bank. While other papers have studied retention programmes such as loyalty card and reward card, there is no published study in the credit card context. Using a rich data set on nearly 5,000 customers observed over a three-year period, we are able to provide detailed insights about the efficacy of these strategies. We show that affinity cards customers and customers acquired through direct mail have longer lifetimes. We also find that reward card programmes generate customers with a shorter lifetime. Finally we re-examine the link between long-life customers and profitability and find that the relationship is weak, consistent with recent findings.     

On Structural Sources of the 1994 Turkish Crisis: a CGE modelling analysis

This paper investigates the impact of the Turkish public sector imbalances on the evolution of the economic crisis during 1990–93. A computable general equilibrium model is used. The theoretical basis of the model rests upon the structuralist/Keynesian macro foundations. Its distinguishing features entail accommodation of oligopolistic mark-up pricing rules in the industrial sectors, and endogenous solution of capacity utilisation and unemployment levels through Keynesian mechanisms of effective final demand. The results of the model underscore the importance of intra-class relations of income distribution and conflict in the evolution of price movements in the Turkish economy. It is further argued that the sources of the capitalist in the administrative interventions of the state towards protection of the capitalist and rural incomes, which would otherwise be squeezed out in favour of wage-labour in the early 1990s.     

CONTROL: GETTING IT AND KEEPING IT IN BUSINESS PROCESS OUTSOURCING

Proposals to outsource corporate functions often meet with resistance because of control issues and concerns about proprietary information. But proponents of outsourcing are quick to note that many of these reservations dwell on perceptions and apprehensions, rather than on the track record of outsourced projects. In fact, veterans of successful arrangements observe that outsourcing frees up valuable management time and thus enables an enhanced form of control.
The key is to supplement direct, supervisory control mechanisms like service control agreements and performance tracking with indirect, enabling controls—senior team affiliation, performance visibility, interface management, and employee allegiance—and then lay the groundwork for these enabling controls early in the outsourcing relationship. Rather than getting locked into static controls, forward-looking managers adopt a broad control framework to go beyond achieving the expected improvements and create the potential to add new value. The result is an outsourcing relationship that can accommodate change, move in a new direction, and seize emerging opportunities.     

Resources at the Grassroots of Recreation: Organizational Capacity and Quality of Experience in a Community Sport Organization

Grassroots recreation organizations are volunteer-run informal organizations that deliver sport and recreation at the local level. Using a qualitative case study approach, this study examined how the quality of experience in one community sport organization was affected by organizational capacity, or the ability of the organization to mobilize financial, human, and structural capital to fulfill its mission. While the volunteers mobilized social capital, the league experienced significant shortages of human capital including the professional competencies to meet increasingly complex administrative demands. This finding raises concerns about potential disenfranchisement of volunteers.     

The effects of advertisement picture likeability on information search and brand choice

A considerable amount of advertising research has focused on the effects of affective cues such as likeable people, pictures, or music. The conclusions have been that ads relying on affective cues can influence choice only under limited conditions, when relevant brand information is either unavailable or not useful if present. However, the effects of affective cues on choice may not be as limited as previously thought. When respondents are allowed to explore diagnostic information but must do it sequentially after initial exposure to the ads with pictures varying in likeability, we hypothesize that the positive ad will influence brand choice, and this effect will be at least partially due to the initial effects of the ads on search of this information. Our study manipulated the likeability of pictures in print ads for a ??test brand,?? along with other similarly formatted ads for three other brands. Brand attribute information was not readily available but could be searched and showed clearly that the test brand was only the second-best. Results showed that the ad pictures biased search order in favor of the advertised test brand and increased choice of the second-best test brand when it was advertised with the likeable pictures. Subsequent analysis revealed that search order significantly but not completely mediated the effects of picture on choice. The results suggest that information search can be a useful, sensitive measure of the effects of advertising.     

The Economic Analysis Underlying the 'Third Way'

In this article we unpack the ‘black box’ of carbon offsetting through a critical examination of the technologies and techniques that create carbon credits. Drawing on empirical research of compliance (Clean Development Mechanism) and voluntary carbon offset markets, we highlight the diversity of technologies, techniques and devices involved in carbon offsetting, ranging from refrigerant plants to systems of calculation and audit. We suggest that polarised debates for and against offsetting do not adequately reflect the considerable variations between types of offset project and governance practices in the compliance and voluntary offset markets. Using conceptual insights from governmentality theory and science and technology studies we assess the tensions in making standard, fungible carbon credits. In conclusion, we suggest attention to the technologies and materiality of carbon offsetting allows a fresh perspective on somewhat entrenched debates about the advantages and disadvantages of offsetting.     

Customers cocreating value with the firm: implications for IHRM

The purpose of this article is to develop a theoretical framework for governing an organization's relationships with customers engaged as contributors to the organization's business processes (i.e. customers as quasi-employees). Based on our suggested framework, we explain how appropriate customer-centric HRM practices can support more cost-effective and accommodating adaptations in the organization's governance of its relationships with customers. We complement these propositions with practical examples illustrating how customers who take different cooperative roles will increasingly become valuable organizational assets. The collaborating customers not only provide the information necessary for the successful performance of the service exchange, but also contribute human and social capital in performing tasks that are a complement to or a substitute for employee tasks. In conclusion, we outline implications for international human resource management (IHRM), as well as future research directions for examining the relationships among customer governance, role configurations, and IHRM practices.