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What does the Financial Services Authority (FSA) mean by risk‐based regulation and why have it? If the regulator adopts such an approach, how should the firms it regulates react? This paper outlines the risk‐based approach taken in the UK by the FSA and outlines strategies to cope with this type of approach. The paper also argues that in light of developments such as Basel such risk‐based approaches by regulators are here to stay and will become increasingly popular. The paper suggests that as well as establishing a riskbased approach, regulators should seek to make the system transparent and to invite comment on it.

The authors identify the practices that the companies that get the most benefit from their strategic-planning activities have in common:

The authors describe how successful companies achieve better strategic planning: They explore strategy at distinct time horizons. They constantly reinvent and stimulate the strategic dialogue. They engage the broad organization. They invest in execution and monitoring.

By focusing a standard process on addressing new questions, the strategic dialogue will remain rich, because participants will have new analyses to consider and fundamentally different ideas to discuss; so strategists – and business leaders – have to learn the “art of questioning.””

A good approach is to ask the leaders of the business units to identify the most important questions that the center should be asking them in today’s turbulent competitive environments.”

An high-value overview of strategic planning for the novice and seasoned practitioner alike. A well-chosen extended strategy team and an always-on monthly strategy assessment process can be a powerful early-warning system.

In 2010 Drive Property Solutions, a special servicing firm in Chicago, had partnered with Spiner Capital to win an FDIC auction of distressed debt. Included in that auction was the defaulted mortgage note on Northwinds Community Crossing, a retail strip mall in suburban Savannah, Georgia, which had been in default since November 2009. Sam Schey, an asset manager at Drive, needed to decide how to maximize recoveries from the nonperforming loan.

In Richmond Fellowship Workschemes, supporting people in open employment is a team effort. Barnet's Qest team write about how they structure their work and share some of the things they have learned.

Law and Film both enjoy the power to mediate the social imaginary. Here, we explore the resonance of this insight in the register of affect and intensity, movement, and change. This demands a different approach to doing theory. As Andrew (1976, pp. 66–67) argues, ‘film is not a product but an organically unfolding creative process in which the audience participates both emotionally and intellectually.’ Seeing a film is not just an exercise in imagining alternatives; it is an unfolding experience in time. It is an event shaded with particular embodied dimensions: one's heart races, pupils contract, skin shivers, muscles tense. Involuntary sensations of nausea or vertigo combine with cognitive responses to produce the lived experience of viewing a particular film that is incorporated into one's sensibility, sometimes very powerfully. It is not just that the mind has spent time in a darkened theatre. The body has also had an affect-laden auditory, visual, and tactile encounter. The affect-rooted experience of the film is a piece of the subject's past, its history, its self. This is another way to understand how film not only represents the world, but participates in its making.

Traces the growth in the use of economic value added (EVA, previously known as residual income) and uses two previous research studies to assess some claims for its merits. Compares EVA’s ability to explain stock returns with that of earnings before extraordinary items (EBEI) and cash flow using 1984‐1993 US data; and finds EBEI is most closely related. Examines EVA’s incentive effects on management investing, financing and operating decisions and shows that, although EVA users decreased new investment, increased dispositions of assets, increased share repurchases, used assets more intensively and increased residual income, market reactions to this were weak. Suggests possible reasons for this and concludes that EVA may align management incentives with shareholders’ interests but this does not necessarily increase shareholder value.

An interview with Thomas A. Stewart, recently appointed editor of the Harvard Business Review and formerly Editorial Director of Business 2.0 and a member of the Board of Editors of Fortune. His latest book is The Wealth of Knowledge: Intellectual Capital and the Twenty‐first Century Organization (2002). Stewart’s message: Knowledge is the most important factor of production in the modern economy and a key to achieving competitive advantage. Investment in intellectual capital almost invariably provokes further complementary investments, producing a self‐feeding circle of investment and value creation. If you don’t know why you’re doing knowledge management, you shouldn’t be doing it. To apply knowledge management ideas and tools to solve business problems, you have to first identify the business problems. More companies are now operating in real time. In these companies, management can see their companies running almost the way an open‐heart surgeon can see the heart beating. That is going to change the art of management in a lot of ways. One effect will be to increase the visibility of the importance of knowledge and information. The response to 9/11 has made people much more aware of the value of their knowledge and much more aware of how to manage, collect, and protect both that knowledge and the people who create and embody it. As we move forward, I think we will be seeing an explicit recognition that deploying and redeploying people and knowledge leads to the fastest growth.