This paper examines the potential effects of the Internet and e‐commerce on money laundering activity. Money laundering is a continuing problem both for regulators who are seeking…
Abstract
This paper examines the potential effects of the Internet and e‐commerce on money laundering activity. Money laundering is a continuing problem both for regulators who are seeking to maintain trust and confidence in the financial system and the investigating authorities who are charged with enforcing the law. There have been a number of developments in recent years both in the detailed regulations and the laws designed to prevent and deter money laundering. There has been an ongoing battle of ideas and innovation between money launderers and the regulators and investigating authorities. To date the authorities have been able to keep up with developments by developing and refining the regulations. With the emergence of the Internet and e‐commerce, however, new opportunities and techniques will be opened up to money launderers. This will present a whole new set of challenges and problems to the authorities. This paper considers these challenges and problems.
Rob Docters, Lisa C. Riley and Martijn Gieskes
The aim of this paper is to describe a better decision framework for setting prices of goods and services, with particular focus on B2B goods sold through direct sales channels…
Abstract
Purpose
The aim of this paper is to describe a better decision framework for setting prices of goods and services, with particular focus on B2B goods sold through direct sales channels (although this may be applicable to many B2C markets also.) The focus is to link situations to pricing strategies, and so anchor pricing to factors that actually drive buyer decisions.
Design/methodology/approach
A large number of interviewees (850) in a number of industries (about 20), in a range of senior and buying‐related capacities, were asked how they evaluated potential purchases. In particular, what role pricing played, and how decision‐makers evaluated the prices offered by incumbent and new vendors. Interviews are supplemented through a number of case studies and references.
Findings
A key finding is that buying decisions are based on only three potential points of reference. The point of reference can be inferred by sellers with confidence from cues and understanding of the organizational history of the buying organization. With an understanding of which point of reference applies, sellers can correctly determine the required offer price. An additional finding is that in situations where the reference or competitive product comparison is unfavorable, there are ways in which sellers can point of reference by “changing the level of play” and so potentially change the outcome in their favor.
Research limitations/implications
The findings are based on a limited number of interviews (850) and a limited number of industries (about 20). There may be instances where price level is a greater driver of customer behavior than suggested here.
Practical implications
The paper suggests that in many instances companies are mistaken in their approach to pricing. They neglect to consider buyer frames of reference, and so discount unnecessarily. The framework in this article also provides senior sales and marketing management with a process by which they can manage discounting.
Social implications
This article helps “penetrate the black box” of buyer decision making, and links it to the objectives, experience and situations at the buyer's institution.
Originality/value
This paper is the first systematic view of buyer points of reference for pricing. Builds upon original interviews to show that the pricing reference point shifts to a limited number of comparison points, and even with limited information, sellers can make good judgments of what is the benchmark used by buyers – they do not need to guess.
Jacqueline Barnes, Kristen MacPherson and Rob Senior
The study reported here aimed to evaluate the impact on parenting and the home environment of community volunteer home visiting offered during or soon after pregnancy to…
Abstract
The study reported here aimed to evaluate the impact on parenting and the home environment of community volunteer home visiting offered during or soon after pregnancy to potentially vulnerable mothers. A cluster‐randomised study allocated Home‐Start schemes to intervention or comparison (existing services) conditions. Mothers were screened at routine health checks. Families in intervention and comparison areas were assessed at two and 12 months. The results showed that comparing families receiving support and those in comparison areas, there were few differences. There was a greater reduction in parent‐child relationship difficulties for supported families, but they offered their children fewer healthy foods. There was no evidence of enhanced parenting, organisation of the home environment or more appropriate use of health services. Comparing families receiving support with a second comparison group, living in intervention areas but not receiving support, no differences were found. The article concludes that a more structured approach may be required to make changes in parenting behaviour and the home environment.
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V.K. Narayanan, Frank L. Douglas, Brock Guernsey and John Charnes
Every merger and acquisition deal presents a different goal and a different mix of critical issues to manage. Making, consummating, and integrating a deal puts pressure on chief…
Abstract
Every merger and acquisition deal presents a different goal and a different mix of critical issues to manage. Making, consummating, and integrating a deal puts pressure on chief executives to play multiple leadership roles and switch quickly from one role to another throughout the merger process. The roles employed vary dramatically with the type of deal and how ambitious the strategy. As the rationales for transactions have changed, new challenges have evolved, especially for those leading the deals: leaders must establish and communicate the strategic vision for the merger ‐‐ they need to explain the top four or five sources of value in the deal and what the core values and culture of the new organization should be; leaders must cheer on the stakeholders to generate enthusiasm for the merger or acquisition, and to confront fear and uncertainty in its various forms; leaders must close the deal; leaders captain change by managing the integration of the two entities; and leaders crusade for the new entity. These five roles are essential to all transactions, but leaders need to employ each at different times. The strategic rationale behind the deal, and the inherent risks and opportunities that it presents, determines which roles a leader needs to play and when.
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Robert M. Sloyan and James D. Ludema
The purpose of this research was to understand the sensemaking processes people use to determine their responses to organizational change initiatives as they unfold overtime…
Abstract
The purpose of this research was to understand the sensemaking processes people use to determine their responses to organizational change initiatives as they unfold overtime. Based on a longitudinal comparative case study of five business units in a $900-million manufacturing organization in the United States, it shows that people continuously assess how the initiatives will enhance or diminish their individual and organizational identities using four kinds of trust: trust in the organization, trust in leadership, trust in the process, and trust in outcomes. The complex dynamics among these “four trusts” and their influence on responses to change are described. A four trusts model is proposed to help change leaders formulate specific trust-building strategies to increase the probability of success of organizational change initiatives. Implications for research and practice are discussed.
Mark Jeffery, Lisa Egli, Andy Gieraltowski, Jessica Lambert, Jason Miller, Liz Neely and Rakesh Sharma
Rob Griffin, senior vice president and U.S. director of search for Media Contacts, a communications consulting firm, is faced with the task of optimizing search engine marketing…
Abstract
Rob Griffin, senior vice president and U.S. director of search for Media Contacts, a communications consulting firm, is faced with the task of optimizing search engine marketing (SEM) for Air France. At the time of the case, SEM had become an advertising phenomenon, with North American advertisers spending $9.4 billion in the SEM channel, up 62% from 2005. Moving forward, Griffin wants to ensure that the team keeps its leading edge and delivers the results Air France requires for optimal Internet sales growth. The case centers upon Air France's and Media Contacts' efforts to find the ideal SEM campaign to provide an optimal amount of ticket sales in response to advertising dollars spent. This optimal search marketing campaign is based on choosing effective allocation of ad dollars across the various search engines, as well as selecting appropriate keywords and bid strategies for placement on the search result page for Internet users.
In determining the optimal strategy, the case presents background information on the airline industry as well as the Internet search options available at the time, including Google, Microsoft MSN, Yahoo!, and Kayak. Additionally, background information is provided on SEM and its associated costs and means of measuring the successfulness of each marketing effort. The case illustrates how one must first determine the key performance indicators for the project to guide analysis and enable comparison of various SEM campaigns. Cost per click and probability to produce a sale differ among publishers. Therefore, using a portfolio application model's quadrant positions can be used to determine optimal publisher strategies. Additionally, pivot tables help illustrate campaigns and strategies that have historically been most successful in meeting Air France's target Internet sales. Multiple recommendations on how Media Contacts can assist Air France in improving its SEM strategy can be derived from the data provided.
Students learn how to optimally leverage the Internet in generating customer sales in a cost-effective manner. Students will analyze and manipulate a variety of data using pivot tables to determine optimal strategies for obtaining maximum total online bookings through the various online channels available. Using a portfolio application model, students can determine an optimal publisher strategy and complete copy improvement analysis.
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Rob Docters, Bert Schefers, Christine Durman and Martijn Gieskes
More than ever, businesses need to assemble and offer multiple products combined into a single offer, a practice known as bundling. The purpose of this paper is to describe how to…
Abstract
Purpose
More than ever, businesses need to assemble and offer multiple products combined into a single offer, a practice known as bundling. The purpose of this paper is to describe how to bundle effectively through analyzing the value of bundle components and the specialized market purpose of a bundle.
Design/methodology/approach
In working with many different clients, statistical techniques have helped us draw an interesting conclusion: most bundles—though not all—share a similar structure or taxonomy. At the heart lies the core or anchor element; this is the product or service driving the inquiry. Wrapped around that are those elements which strongly complement the core. The next layer up consists of products or services seen as convenient for the core, but may not always be cost‐effective to include. The final layer of a bundle often turns out to be additions with negative value. These are either substitutes for other bundle components (buyers generally hate being forced to buy two redundant products), or components which have such low relevance to the core that they clutter the value message.
Findings
This article examines two dangers to effective bundling: mismatching the various elements of a bundle, and mispricing the offer. We find there are four marketing mistakes which typically stem from mismatches and mispricing: failing to create bundles for special purposes; making bundles too big; using tiering instead of bundles; and failing to innovate on bundle definition.
Originality/value
There is a science to bundles, but it is not widely known or practiced. This science grows in importance as bundling becomes more important, and bundle components become more diverse. Today most bundling is done through judgement and ad hoc initiatives. Frequently such an approach fails to develop an effective bundle, or effectively communicate the value of the bundle. Understanding the taxonomy of a bundle, and the value elements, will allow more diverse and effective product and service combinations.
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The Consumers' Association is designing a campaign which will encourage catering establishments to introduce more healthy dishes onto their menus. In preparation for this…
Abstract
The Consumers' Association is designing a campaign which will encourage catering establishments to introduce more healthy dishes onto their menus. In preparation for this initiative, catering students at Brighton Polytechnic were asked to devise a dessert trolley that would be both appetising and nutritious. This part of a menu presents health‐conscious caterers and customers with perhaps their greatest challenge, as typically all the best intentions seem to dissolve into oodles of cream, lashings of syrup and coatings of chocolate.
Explores recent developments in MIS, discusses the literaturerelating to evaluation of MIS, and produces a list of possibleobjectives and key questions to assist in the evaluation…
Abstract
Explores recent developments in MIS, discusses the literature relating to evaluation of MIS, and produces a list of possible objectives and key questions to assist in the evaluation and audit of MIS. Focuses on audit objectives relevant to assessing an MIS. Aims to stimulate debate among internal audit professionals on the audit of MIS, in the hope that the involvement of internal auditors in this area will lead to the bridging of the gap between what users want from systems and what information systems designers think are user requirements.
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This paper considers the principles underpinning the proposals for a comparative information scheme for personal financial services products. In October 1999 the Financial…
Abstract
This paper considers the principles underpinning the proposals for a comparative information scheme for personal financial services products. In October 1999 the Financial Services Authority (FSA) issued Consultation Paper 28: ‘Comparative Information for Financial Services’ which outlines the preliminary work carried out by the FSA and its consultants in this area. The scheme has some similarities to the league tables found in the education sector and it is likely that, if implemented, the proposed scheme will become known as the ‘Finan‐cial Services League Tables’. The consultation paper identifies specific outcomes which the FSA states are its policy objectives in this area. These objectives are in the areas of consumer knowledge and competition. This paper considers the rationale for the proposed scheme and looks at its potential benefits and problems. To do this it draws on both the FSA's Consultation Paper and the established body of research int the effectiveness of performance measurement and league tables. The paper considers the issue that in order to be worthwhile a performance measurement system must generate a net benefit. Specifically, the costs of setting up and maintaining the system plus the imperfections in the information generated by the system must be outweighed by the value of the information to its users. The costs of setting up and administering a system for financial services league tables can be quantified. The potential both for imperfections in the information generated and in the way in which that information is used are not so easily quantified, however, and require careful analysis. This paper concentrates on providing analysis of these potential imperfections. It concludes by discussing whether these potential problem areas are of sufficient significance to undermine the purpose and value of the proposed league table scheme.