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Such policies are relevant for the larger, complex organisations, often commanding large market shares, but can strategic thinking be applied to smaller organisations, often those with low market share, or to organisations which are generally weak in their current activities?

Qualitative information‐gathering techniques are focused on to determine whether they can be adapted or adopted to support strategic goal‐setting. Much of the literature suggests that if planning is based on information gathered and presented in a manner which managers can understand they are more likely to act on it, and, for this reason, qualitative rather than quantitative techniques are stressed here. Factors which are not amenable to numerate analysis but which are useful to the strategic planner, such as experience, judgement and intuition, are also isolated and analysed. An attempt is made to facilitate the use of qualitative data‐gathering methods and suggestions are made as to where particular techniques may prove beneficial, together with their limitations. Research, from a small (n = 20), in‐depth survey of small business owners/ managers in Canada, is included which shows that they do not use quantitative planning processes but that judgemental techniques were most widely used; in general, the less sophisticated the planning process the higher it would be ranked among the survey participants. The research from other surveys also shows that scientific mathematically based models often do not fit with small business organisational reality and that methodologies should be developed that integrate research into the decision‐making process.

Introduction This paper on added value and labour productivity pays particular attention to the advantages and limitations of added value based incentive schemes.

This research examines the extent to which the number of sales forecasting methods used by a company affects forecast accuracy and the extent to which organisation affects the number of sales forecast methods chosen. The objective is to better understand marketing management practices in this respect. Contextually, the study is part of the shift in sales forecasting research away from studies of accuracy per se to studies of organisation and implementation issues. It is widely recognised that objective techniques improve forecast accuracy, especially in the long run; yet, there is considerable evidence that such techniques are not widely used. The question of why there is such a discrepancy between practice and conventional wisdom, accounts, in large part, for this interest in organisation and implementation and the development of forecast models that incorporate implementation strategies.

Before the appearance of our next issue, the Annual Meeting of the Library Association will have taken place. In many ways, as indicated last month, it will be an interesting meeting, largely because it is in the nature of an experiment. International conditions, the state of national and municipal finance, the absence of library workers with the colours, and the omission of social events, all tend to influence its character. It is possible, however, that these very circumstances may increase the interest in the actual conference business, especially as the programme bears largely upon the War. The programme itself is formidable, and it will be interesting to see how the section on the literature of the war, for example, will be treated. Probably the Publications' Committee have in mind the book symposia which are a feature of the meetings of various library associations in the United States. These consist of a few minutes' characterisation, by an opener, of a certain book or type of literature, and a discussion after it. The experiment was attempted in London last year at one of the monthly meetings, but owing to a misapprehension the speaker gave an excellent lecture on Francis Thompson of more than an hour's duration, when he had been expected to give a brief description of Francis Meynell's biography of that poet. If any gatherings for a similar purpose are arranged, we hope the speakers will be primed sufficiently to avoid that error. As for social events, their omission is less likely to be felt in London than anywhere else in the Kingdom. London is a perennial source of social amusement in itself, and the evenings can readily be filled there—“chacun à son goût”—really better than by attending pre‐arranged gatherings.

The Nature of Business Policy Business policy — or general management — is concerned with the following six major functions:

THE curtain has now been rung down on the Jubilee of the Library Association and all who witnessed or took part in the performance will agree that the show was good. The setting of the scene in so beautiful a city, the lavish and dignified hospitality, the fine and sympathetic chairmanship of the new President, the general good‐humoured seriousness of the discussions—all these things will remain to make the Edinburgh Conference the most memorable in our annals. The Conference was not only nation‐wide and empire‐wide—it was world‐wide; and several languages and many accents were heard. Librarians of great fame, who hitherto have been names only, became known friends within the week.

The heavy civil engineering industry (railways, sewage treatment, chemical and pharmaceutical facilities, oil and gas facilities, etc.) is one of the major contributors to the British economy and generally involves a high level of investment. Clients in this industry are demanding accurate cost estimate, proper analysis of out‐turn cost and cost escalation and a high quality risk analysis throughout the construction processes. Current practice in the industry has suggested that there is a lack of structured methodologies and systematic cost escalation approach to achieve an appropriate cost analysis at the outset of projects and throughout the construction processes. In this context the prime objective of this research work is to develop a structured cost escalation methodology for improving estimating management and control in the heavy engineering industry construction processes. The methodology is composed of a forecasting model to predict cost indices of major items in industry and a risk knowledge base model for identifying and quantifying causes of cost escalations. This paper, as part of the research, reviews and discusses a knowledge‐based model for applying a cost escalation factor. The cost escalation factor is made up of market variation, a risk element and a component for bias. A knowledge elicitation strategy was employed to obtain the required knowledge for the model. The strategy included questionnaires, interviews and workshops and deliverables came in the form of influences and their effect on project cost escalation. From these deliverables, the concepts of a decision support model and system specification for applying cost escalation to base estimates is proposed.

The last decade has seen increasing emphasis on developing and modifying management techniques to make them more relevant to the business decisions faced by an organisation.

Cyclical fluctuations in the level and rate of growth of economic activity have long been a feature of the British economy. The ability to forecast “turning points” (peaks and troughs) in business activity is of crucial importance for changes in companies' stockholding policy, hiring policy, capital budgeting, and many other aspects of corporate appraisal.