Achieving sustainable cost transformation

Means for hospitals and health systems to achieve necessary, sustainable cost transformation include: Using a structured approach with rigorous analysis. Understanding the organization's capital position and quantifing the shortfall. Identifing potential savings sources. Using internal and external benchmarks. Ensuring integration of cost-reduction targets with organizational plans and budget.     

Odd Pareto families of distributions for modeling loss payment data

A three-parameter generalization of the Pareto distribution is presented with density function having a flexible upper tail in modeling loss payment data. This generalized Pareto distribution will be referred to as the Odd Pareto distribution since it is derived by considering the distributions of the odds of the Pareto and inverse Pareto distributions. Basic properties of the Odd Pareto distribution (OP) are studied. Model parameters are estimated using both modified and regular maximum likelihood methods. Simulation studies are conducted to compare the OP with the exponentiated Pareto, Burr, and Kumaraswamy distributions using two different test statistics based on the ml method. Furthermore, two examples from the Norwegian fire insurance claims data-set are provided to illustrate the upper tail flexibility of the distribution. Extensions of the Odd Pareto distribution are also considered to improve the fitting of data.     

Research Quality

Advertising is under attack all over the world, from a disparate range of enemies, with differing motives. Even though very few governments have specific policies against advertising, there has been a continuous and worldwide flow of new restrictive legislation. At the centre of the attack are the manufacturers of tobacco and alcohol, but many other products have been declared suspect, and multinational companies are singled out for special mention in most draft legislation. When such restrictions are implemented, consumers do not automatically benefit, yet those concerned with production are seriously hampered and even sustain financial loss. The attackers pursue ‘single-issue’ politics by every available means. Specific industries defend their own interests, but usually only after a direct attack, with no coordination of objectives or resources. Those responsible for business policy-making must be prepared to define and defend their rights to produce, distribute and promote.     

Business government planning agreements —ideology versus practicality

The involvement of government in the affairs of business has been increasing rapidly over the past two decades in most western economies. This paper examines the impact of a particular instrument designed by government in the U.K. to attempt to be involved with corporate planning at the level of the individual company. The paper reports the views, attitudes, and expectations of government and those of a number of the major companies which were politically and economically selected by government as being suitable candidates for planning agreements. Finally, the attitute of senior trade unionists were sought to complete a tripartite analysis consistent with that of other institutions created for indicative economic planning. The results do not appear favourable to this particular instrument nor would they augur well for others unless the basic climate of trust and understanding between the different parties dramatically improved.