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Suggests that health organizations which have successfully introduced developed management by involving clinicians are reaching a position where they can move forward beyond “Resource Management” towards managing in a total quality way. This is not an in‐depth explanation of TQM (which in itself is rarely understood) but a brief examination of how health organizations can move towards becoming total quality organizations. The trend to decentralize the management of clinical services in hospitals is seen in many countries across the world and where well established, the natural evolution has been towards total quality management.

This issue is a selected bibliography covering the subject of leadership.

The ‘lowest‐price wins’ philosophy has been a consistent theme of contractor selection over the years. To comprehensively elucidate this selection preference and compare it with the use of a multi‐criteria selection (MCS) approach in the tenderer evaluation process, this paper investigates MCS tender price selection preferences. That is, project‐specific criteria (PSC) and lowest‐price wins selection practices of UK construction clients, in both building and civil engineering works at in detail via results of the empirical survey. The investigation provides further insight into the evaluation of contractors' attributes (i.e. PSC). Levels of importance assigned (LIA) for each criterion were analysed (i.e. quantitative analysis of the differences in opinions and, variance amongst the respondents) in a multivariate statistical method. Importance attached by construction clients to the ‘lowest‐price wins’ philosophy is also presented. Contrast was made between the MCS approach and the ‘lowest‐price wins’ option amongst the surveyed construction clients. It was found that increased awareness of the use of PSC prevailed amongst the survey construction clients. This indicated that cost has to be tempered with the evaluation of PSC and the attempt of construction clients searching for a new evaluation paradigm (i.e. adoption of MCS approach rather than basing on the lowest‐price wins alone).

Why is the quality of innovation-driven entrepreneurship seemingly declining? We argue the growing Entrepreneurship Industry and the way it has transformed entrepreneurship as an activity are important, under-appreciated explanations. By leveraging the Ideology of Entrepreneurialism to mass-produce and mass-market products, the Entrepreneurship Industry has made possible what we term Veblenian Entrepreneurship. This is entrepreneurship pursued primarily as a form of conspicuous consumption, and it is fundamentally different from the innovation-driven entrepreneurship that it emulates and superficially resembles. Aside from lowering average entrepreneurial quality, Veblenian Entrepreneurship has a range of (short-run) positive and (medium- and long-run) negative effects for both individuals and society at large. We argue that the rise of the Veblenian Entrepreneur might contribute to creating an increasingly Untrepreneurial Economy. An Untrepreneurial Economy appears innovation-driven and dynamic but is actually rife with inefficiencies and unable to generate economically meaningful growth through innovation.

Aarhus Kommunes Biblioteker (Teknisk Bibliotek), Ingerslevs Plads 7, Aarhus, Denmark. Representative: V. NEDERGAARD PEDERSEN (Librarian).

This story of the 108‐year‐old Birmingham Newton Company, manufacturers of industrial and automotive lubricants and chemical products, might well have come to an abrupt end twenty years ago — on 20 March 1968 in fact — when a disastrous fire gutted the company's Holt Street works, blending plant and laboratory, leaving a pile of smoking rubble where Ernest Newton founded his family business in 1880.

We take Cumulative Prospect Theory (CPT) seriously by rigorously estimating structural models using the full set of CPT parameters. Much of the literature only estimates a subset of CPT parameters, or more simply assumes CPT parameter values from prior studies. Our data are from laboratory experiments with undergraduate students and MBA students facing substantial real incentives and losses. We also estimate structural models from Expected Utility Theory (EUT), Dual Theory (DT), Rank-Dependent Utility (RDU), and Disappointment Aversion (DA) for comparison. Our major finding is that a majority of individuals in our sample locally asset integrate. That is, they see a loss frame for what it is, a frame, and behave as if they evaluate the net payment rather than the gross loss when one is presented to them. This finding is devastating to the direct application of CPT to these data for those subjects. Support for CPT is greater when losses are covered out of an earned endowment rather than house money, but RDU is still the best single characterization of individual and pooled choices. Defenders of the CPT model claim, correctly, that the CPT model exists “because the data says it should.” In other words, the CPT model was borne from a wide range of stylized facts culled from parts of the cognitive psychology literature. If one is to take the CPT model seriously and rigorously then it needs to do a much better job of explaining the data than we see here.

The construction industry is highly fragmented and adversarial in nature, which has resulted in it being criticized for its poor project performance and lack of innovation. To improve performance, particularly inter‐organizational relations, organizations need to consider the formation of alliances with their project partners. Some construction organ‐ izations are beginning to initiate short‐term alliances with their customers and suppliers as part of a supply chain management strategy. However, such short‐term alliances inhibit feedback, which in turn supports learning and the development of mutual trust and cooperation. It is proffered that construction organizations should consider developing long‐term alliances, so as to enable parties to form learning alliances. The implications of forming different types of strategic alliances/partnering in construction are discussed. An inter‐organizational model that can be used to support learning and is founded on the principles of total quality management (TQM) is described. A case study is used to demonstrate that cooperative relationships can be used to cultivate a culture for reflective learning and mutual trust, beyond merely project‐specific performance improvements.