Corporate Strategy, Corporate Culture and Conversion; Adjustment in the Defence Industry |
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| Authors: | Ron Smith Dan Smith |
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| Institution: | Ron Smith is Professor of Applied Economics, Birkheck College, London University and is Visiting the Centre for Economic Forecasting, London Business School during 1992. Dan Smith is Director of the Transnational Institute, Amsterdam. |
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| Abstract: | The recent decline in military demand has prompted calls for government aid to help the arms manufacturers convert to civil production. The authors examine the shock that UK defence firms faced, the constraints their defence culture imposed and how they responded. They conclude that while the market solution, closure of defence plants and redundancy, may appear wasteful, in the longer run it is likely to be more productive than trying to convert defence plants. |
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