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Considering the recent impact of the capital market on corporate strategy, this text analyzes, through argument and supportive case studies, how pressures from the capital bull market of the 1990s and bear market of the early 2000s, have reshaped management action and calculation in large, publicly quoted US and UK corporations. Beginning with the dissatisfaction with classical strategy and its limited engagement with the processes of financialization, the book moves on to cover three detailed company case studies (General Electric, Ford and GlaxoSmithKline) which use long run financial data and analysis of company and industry narratives to illustrate and explore key themes. The book emphas...
Car manufacturing involves the movement of large numbers of heavy, awkward objects incorporating some 20,000 parts, through a large number of short cycles. As to be expected the constant flow of the processes involved is disrupted by both the inherent complexities of production and those of market restrictions. This study, a unique blend of analysis, history and case studies, not only characterizes the essence of car manufacturing but also explains the links between production, market conditions and financial results and constraints. At the same time, it challenges fashionable views on the car industry and rejects the current preference for facile dichotomies (e.g. mass production vs. lean production; Japan vs. America; freedom vs. regulation). However, it also shows that the failure of BMC, the largest failure in the industry to date, cannot be attributed to its incomplete adoption of the best system. Ford and Toyota were exceptionally successful in their production organization but their solutions had more in common than is generally acknowledged, and those solutions also required exceptional market conditions for their successful implementation.
This study offers a distinctive new account of British economic life since the Second World War, focussing upon the ways in which successive governments, in seeking to manage the economy, have sought simultaneously to "manage the people": to try and manage popular understanding of economic issues. In doing so, governments have sought not only to shape expectations for electoral purposes but to construct broader narratives about how "the economy" should be understood. The starting point of this work is to ask why these goals have been focussed upon (and differentially over time), how they have been constructed to appeal to the population, and, insofar as this can be assessed, how far the popu...
Shareholder engagement with publicly listed companies is often seen as a key means to monitor corporate malpractices. In this book, the authors examine the corporate governance roles of key institutional investors in UK corporate equity, including pension funds, insurance companies, collective investment funds, hedge and private equity funds and sovereign wealth funds. They argue that institutions’ corporate governance roles are an instrument ultimately shaped by private interests and market forces, as well as law and regulatory obligations, and that policy-makers should not readily make assumptions regarding their effectiveness, or their alignment with public interest or social good.
This book brings together original studies of the development of Japanese and - crucially - non-Japanese management in the automotive industry from around the world, including a total of nine country studies in the key production and consumption theatres North and South America, Europe and Japan. It offers new perspectives for all those concerned with the impact of new management arrangements on both employees and management alike.
'How and why do transnational regulatory bodies emerge? How do they acquire the authority and confidence to be actors in their own right? These questions preoccupy scholars in many disciplines and Sebastian Botzem's The Politics of Accounting Regulation makes an important contribution to the debates. Focusing on the case of the International Accounting Standards Board over a critical period of its development including the financial crisis Botzem addresses its evolution as an organization which produces accounting standards and whose efforts to be outside politics are inevitably and irredeemably political in nature. This book is essential reading for sociologists, political scientists, accou...
According to the author, rather than alleviating poverty, microfinance financialises poverty. By indebting poor people in the Global South, it drives financial expansion and opens new lands of opportunity for the crisis-ridden global capital markets. This book raises fundamental concerns about this widely-celebrated tool for social development.
Argues "that social scientists, governments and citizens need now to re-engage with the political dimensions of financial markets." - cover.
Examines the controversial Japanese model of lean production and its impact on work and workers in the global auto industry.
"Social theory has largely abandoned a focus on labor and with it its empirical foundation, while the sociology of work has neglected the production of theory more generally. It is for precisely this reason that Capitalism and labor has become a standard work on this subject. Labor and employment relations have become both increasingly diverse as well as less secure while, at the same time, labor and distributional struggles are being waged ever more fiercely. Adequately grasping these changes requires innovative impulses emerging from the analysis of capitalism, just as the sociology of work has a lot to contribute to the former. In this translated and updated edition the authors discuss current theoretical approachers in an attempt to once again conceive capitalism and labor together"--Back cover.