Creating a world class business through a merger of two equals: an interview with Paul Walsh, Chief Executive Officer of Diageo Plc

Purpose – The purpose of this paper is to explore, from a practical point-of-view, a number of key strategic issues that critically influence organisations' competitiveness. Design/methodology/approach – The paper is based on a semi-structured interview with Mr Paul Walsh, CEO of Diageo. Diageo is a highly successful company and Mr Walsh has played a central role in making Diageo the number one branded drink company in the world. Findings – The paper discusses the key attributes of successful merger, lessons from a complex cross boarder acquisition, rationale for strategic alliance with competitors, distinctive resources, and the role of corporate social responsibility. Research limitations/implications – It is not too often that management scholars have the opportunity to discuss with the CEOs of large multinationals the rational of key strategic decisions. In this paper these issues are explored from the perspective of a CEO of a large and successful company. The lessons, while not generalisable, offer unique insights to students of management and management researchers. Originality/value – The paper offers a bridge between theory and practice. It demonstrates that from Diageo's perspective the distinctive capabilities are intangible. It also offers insight into how to successfully execute strategic decision. In terms of originality it offers a view from the top, which is often missing from strategy research.

Donationes mortis causa in a dematerialised world

Subject: Real property. Other related subjects: Personal property. Trusts Keywords: Bank accounts; Documents of title; Donatio mortis causa; Electronic documents; Legal charges; Registered land; Shares Legislation: Land Registration Act 2002 (c.9) Cases: Sen v Headley [1991] Ch. 425; Guardian, April 23, 1991 (CA (Civ Div)); Duffield v Elwes 4 E.R. 959 (KB); Birch v Treasury Solicitor [1951] Ch. 298 (CA)

Stephen Martin Leake: a Victorian's view of the Common Law

This article considers the life and work of Stephen Martin Leake and seeks to locate his work within the wider context of the procedural and substantive transformation of the mid-to-late Victorian legal world. In particular, the article attempts to rescue Leake from obscurity and emphasise his importance in this process. It is argued that Leake’s work began the process whereby common lawyers conceived of their law as organised in a principled rather than procedural manner. Later common law jurists built upon this work. Consideration is also given to the philosophical and jurisprudential sources upon which Leake drew in constructing his treatises.

Reading the world through words: cultural themes in heritage Chinese language textbooks

This paper explores the social and cultural knowledge embedded in the textbooks for language and literacy education in a Chinese heritage language school, the Zhonguo School, in Montreal, Quebec, Canada. It examines how Chinese language arts textbooks introduce the child reader to cultural knowledge considered legitimate and valued in China as well as in Chinese diasporan communities. Furthermore, it looks at the construction of cultural knowledge in Chinese language textbooks in relation to the mainstream ideology to which immigrant children are exposed in and out of mainstream school classrooms. It looks at how the power relationship between legitimate cultural knowledge in majority and minority contexts is established and to what extent it affects language minority students' literacy practices in mainstream school and heritage language school contexts. Data sources are the Chinese textbooks used from kindergarten to Grade 5 in a Chinese heritage language school.

Waltz and the world: neorealism as international political theory?

The recent recovery of an empirically and ethically richer realist tradition involves an explicit contrast with neorealism's more scientistic explanatory aspirations. This contrast is, however, incomplete. Although Waltz's theoretical work is shaped by his understanding of the requirements of scientific adequacy, his empirical essays are normatively quite rich: he defends bipolarity, and criticizes US adventurism overseas, because he believes bipolarity to be conducive to effective great power management of the international system, and hence to the avoidance of nuclear war. He is, in this sense, a theorist divided against himself: much of his oeuvre exhibits precisely the kind of pragmatic sensibility that is typically identified as distinguishing realism from neorealism. His legacy for a reoriented realism is therefore more complex than is usually realized. Indeed, the nature of Waltz's own analytical endeavour points towards a kind of international political theory in which explanatory and normative questions are intertwined.

Modelling human visual navigation using multi-view scene reconstruction

It is often assumed that humans generate a 3D reconstruction of the environment, either in egocentric or world-based coordinates, but the steps involved are unknown. Here, we propose two reconstruction-based models, evaluated using data from two tasks in immersive virtual reality. We model the observer’s prediction of landmark location based on standard photogrammetric methods and then combine location predictions to compute likelihood maps of navigation behaviour. In one model, each scene point is treated independently in the reconstruction; in the other, the pertinent variable is the spatial relationship between pairs of points. Participants viewed a simple environment from one location, were transported (virtually) to another part of the scene and were asked to navigate back. Error distributions varied substantially with changes in scene layout; we compared these directly with the likelihood maps to quantify the success of the models. We also measured error distributions when participants manipulated the location of a landmark to match the preceding interval, providing a direct test of the landmark-location stage of the navigation models. Models such as this, which start with scenes and end with a probabilistic prediction of behaviour, are likely to be increasingly useful for understanding 3D vision.

WCCC 2013: the 20th World Computer Chess Championship

The 20th World Computer Chess Championship took place in Yokohama, Japan during August 2013. It was narrowly won by JUNIOR from JONNY with HIARCS, PANDIX, SHREDDER and MERLIN occupying the remaining positions. There are references to the detailed chess biographies of the engines and engine-authors in the Chessprogramming Wiki. The games, occasionally annotated, are available here.

WCSC 2013: the 3rd World Chess Software Championship

The 3rd World Chess Software Championship took place in Yokohama, Japan during August 2013. It pits chess engines against each other on a common hardware platform - in this instance, the Intel i7 2740 Ivy Bridge with 16GB RAM supporting a potential eight processing threads. It was narrowly won by HIARCS from JUNIOR and PANDIX with JONNY, SHREDDER and MERLIN taking the remaining places. Games, occasionally annotated, are available here.

Connecting the complex ‘lived’ world(s) of Fairtrade

Although certified Fairtrade continues to use discourses of defetishization, its move into mainstream markets has acted to refetishize the consumer–producer relationship through the use of a standardized label, which acts as a substitute for engaged knowledges. Through Fairhills, a South African Fairtrade wine project, this paper explores the contextual complexity on the producer side of the commodity network. By incorporating the national discourse of Black Economic Empowerment into its operations, both in Fairhills and in South Africa in general, Fairtrade has adapted to this context, ensuring its relevance and credibility to stakeholders. However, in the UK, little more information than that commonly associated with Fairtrade is offered to Fairhills consumers. The particular market challenges facing Fairtrade wine in the UK make this negotiation between regulation and representation extremely pertinent. A productive way forward may be to conceptualize commodity fetishism as a continuum rather than a binary particularly when considering the difficult balance required when adding complexity to the targeted message of the existing label. This strategy for the sustainability of Fairtrade may be enhanced by utilizing the micro-level dynamism and adaptability that this paper shows is inherent, and indeed essential, to the durability and transferability of the discourse of Fairtrade.

Do normative judgements aim to represent the World?

Many philosophers think that normative judgements do not aim to represent the world. In this paper, I argue that this view is incompatible with the thought that when two people make conflicting normative judgements, at most one of these judgements is correct. I argue that this shows that normative judgements do aim to represent the world.

Tiny objects writ large: the private world of ice age art made public

Ice Age Art: Arrival of the Modern Mind was an exhibition at the British Museum from 27 February to 2 June 2013 exhibiting sculptures and engravings from the Ice Age of Europe and Eurasia, 40,000–10,000 years ago. It was accompanied by a lavishly illustrated book by Jill Cook with the same title, published by the British Museum Press. The exhibition was a sell-out, attracting considerable coverage in the press. Here I reflect critically on some aspects of the exhibition, exploring what such a display might tell us about ice age life, the modern mind and our present-day approach to displaying such objects.

Do IMF and World Bank programs induce government crises? an empirical analysis

We examine whether and under what circumstances World Bank and International Monetary Fund (IMF) programs affect the likelihood of major government crises. We find that crises are, on average, more likely as a consequence of World Bank programs. We also find that governments face an increasing risk of entering a crisis when they remain under an IMF or World Bank arrangement once the economy's performance improves. The international financial institution's (IFI) scapegoat function thus seems to lose its value when the need for financial support is less urgent. While the probability of a crisis increases when a government turns to the IFIs, programs inherited by preceding governments do not affect the probability of a crisis. This is in line with two interpretations. First, the conclusion of IFI programs can signal the government's incompetence, and second, governments that inherit programs might be less likely to implement program conditions agreed to by their predecessors.

Economic forecasting in a changing world

This article explains the basis for a theory of economic forecasting developed over the past decade by the authors. The research has resulted in numerous articles in academic journals, two monographs, Forecasting Economic Time Series, 1998, Cambridge University Press, and Forecasting Nonstationary Economic Time Series, 1999, MIT Press, and three edited volumes, Understanding Economic Forecasts, 2001, MIT Press, A Companion to Economic Forecasting, 2002, Blackwells, and the Oxford Bulletin of Economics and Statistics, 2005. The aim here is to provide an accessible, non-technical, account of the main ideas. The interested reader is referred to the monographs for derivations, simulation evidence, and further empirical illustrations, which in turn reference the original articles and related material, and provide bibliographic perspective.