Perils of managing the service profit chain:the role of time lags and feedback loops

The tendency of managers to focus on short-term results rather than on sustained company success is of particular importance to retail marketing managers, because marketing activities involve expenditures which may only pay off in the longer term. To address the issue of myopic management, our study shows how the complexity of the service profit chain (SPC) can cause managers to make suboptimal decisions. Hence, our paper departs from past research by recognizing that understanding the temporal interplay between operational investments, employee satisfaction, customer satisfaction, and operating profit is essential to achieving sustained success. In particular, we intend to improve understanding of the functioning of the SPC with respect to time lags and feedback loops. Results of our large-scale longitudinal study set in a multi-outlet retail chain reveal time-lag effects between operational investments and employee satisfaction, as well as between customer satisfaction and performance. These findings, along with evidence of a negative interaction effect of employee satisfaction on the relationship between current performance and future investments, show the substantial risk of mismanaging the SPC. We identify specific situations in which the dynamic approach leads to superior marketing investment decisions, when compared to the conventional static view of the SCP. These insights provide valuable managerial guidance for effectively managing the SPC over time. © 2012 New York University.

The impact of Islamic banking on the cost efficiency and productivity change of Malaysian commercial banks

This study employs Stochastic Frontier Analysis (SFA) to analyse Malaysian commercial banks during 1996–2002, and particularly focuses on determining the impact of Islamic banking on performance. We derive both net and gross efficiency estimates, thereby demonstrating that differences in operating characteristics explain much of the difference in costs between Malaysian banks. We also decompose productivity change into efficiency, technical, and scale change using a generalized Malmquist productivity index. On average, Malaysian banks experience moderate scale economies and annual productivity change of 2.68%, with the latter driven primarily by Technical Change (TC), which has declined over time. Our gross efficiency estimates suggest that Islamic banking is associated with higher input requirements. However, our productivity estimates indicate that full-fledged Islamic banks have overcome some of these cost disadvantages with rapid TC, although this is not the case for conventional banks operating Islamic windows. Merged banks are found to have higher input usage and lower productivity change, suggesting that bank mergers have not contributed positively to bank performance. Finally, our results suggest that while the East Asian financial crisis had a short-term costreducing effect in 1998, the crisis triggered a long-lasting negative impact by increasing the volume of nonperforming loans.

Marine Le Pen and the 'New' FN:a change of style or of substance?

The electoral challenge of the far right is an enduringly problematic feature of contemporary French politics. In the first rounds of the 2012 presidential and parliamentary elections, the Front National (FN) under new leader Marine Le Pen attracted a combined total of ten million votes, bringing its ultra-nationalist policies to the centre of national political debate. This article examines the FN's impact on these elections and its implications for French politics. Drawing on official FN programmes, detailed election results and a range of opinion polling data, it assesses the strength of support for Le Pen and her party and seeks to explain their electoral appeal. In particular, it subjects to analysis the claim that the new leader has ‘de-demonised’ the FN, transforming it from perennial outsider to normal participant in mainstream French politics; and it reflects on the strategic dilemma posed for the centre-right by this newly invigorated far-right challenge.

Pilot study reviewing the receptivity for change of the business improvement department and the core leadership programme

Consultancy report for the Deputy Chief Constable, Warwickshire Police

Method of detecting a significant change of scene

A significant change of scene in a gradually changing scene is detected with the aid of a least one camera means for capturing digital images of the scene. A current image of the scene is formed together with a present weighted reference image which is formed from a plurality of previous images of the scene. Cell data is established based on the current image and the present weighted reference image. The cell data is statistically analysed so as to be able to identify at least one difference corresponding to a significant change of scene. When identified, an indication of such significant change of scene is provided.

Determining the change of Brillouin frequency shift by using the similarity matching method

We have proposed a similarity matching method (SMM) to obtain the change of Brillouin frequency shift (BFS), in which the change of BFS can be determined from the frequency difference between detecting spectrum and selected reference spectrum by comparing their similarity. We have also compared three similarity measures in the simulation, which has shown that the correlation coefficient is more accurate to determine the change of BFS. Compared with the other methods of determining the change of BFS, the SMM is more suitable for complex Brillouin spectrum profiles. More precise result and much faster processing speed have been verified in our simulation and experiments. The experimental results have shown that the measurement uncertainty of the BFS has been improved to 0.72 MHz by using the SMM, which is almost one-third of that by using the curve fitting method, and the speed of deriving the BFS change by the SMM is 120 times faster than that by the curve fitting method.

A rendszerváltás után alapított és nemzetközileg sikeressé vált magyar vállalatok versenyképessége = The competitiveness of Hungarian companies that were founded and became successful internationally after the change of the economic system

A műhelytanulmány annak a kutatási munkának az első eredménye, amelyben a rendszerváltás után nemzetközileg sikeressé vált magyar vállalatok sikertényezőinek elemzését tűztük ki célul. A kérdés jelentőségét abban látjuk, hogy a magyar piac korlátozott belső nagysága miatt a sikeres magyar vállalatok számára a külföldön való terjeszkedés megkerülhetetlen stratégiai követelmény. A mélyinterjúkon alapuló kutatáshoz szakirodalmi áttekintést végeztünk, összeállítottuk kutatási propozíciónkat, kidolgoztuk a mélyinterjúknál használandó kérdéslistát. Ez a műhelytanulmány az első két mélyinterjú anyagát tartalmazza, de kidolgozás és előkészítés alatt vannak további vállalati esettanulmányok is. ----- This working paper presents the first results of our research project aiming to analyze the success factors of Hungarian companies that became successful internationally after the change in the economic system in Hungary. We believe this is a significant topic as international expansion for successful Hungarian companies is a strategic requirement, due to the limited size of domestic markets. Our research is methodologically based on in-depth interviews, backed by literature review. We have developed propositions and an outline for semi-structured interviews. This working paper covers the recorded material of two in-depth interviews of executives from two different companies, while additional case studies are still being prepared.

Intenzitásalapú modellezés és a mértékcsere (Intensity-based modeling and thje change of measure)

A dolgozatban a hitelderivatívák intenzitásalapú modellezésének néhány kérdését vizsgáljuk meg. Megmutatjuk, hogy alkalmas mértékcserével nemcsak a duplán sztochasztikus folyamatok, hanem tetszőleges intenzitással rendelkező pontfolyamat esetén is kiszámolható az összetett kár- és csődfolyamat eloszlásának Laplace-transzformáltja. _____ The paper addresses questions concerning the use of intensity based modeling in the pricing of credit derivatives. As the specification of the distribution of the lossprocess is a non-trivial exercise, the well-know technique for this task utilizes the inversion of the Laplace-transform. A popular choice for the model is the class of doubly stochastic processes given that their Laplace-transforms can be determined easily. Unfortunately these processes lack several key features supported by the empirical observations, e.g. they cannot replicate the self-exciting nature of defaults. The aim of the paper is to show that by using an appropriate change of measure the Laplace-transform can be calculated not only for a doubly stochastic process, but for an arbitrary point process with intensity as well. To support the application of the technique, we investigate the e®ect of the change of measure on the stochastic nature of the underlying process.

Seasonal change of oribatid mite communities (Acari, Oribatida) in three different types of microhabitats in an oak forest

Oribatid mites are one of the most abundant groups of the ground-dwelling mesofauna. They can be found in almost every terrestrial habitat all over the world and they are characterized by great species richness and great number of individuals. In spite of that not enough is known about their behaviour on community level and their spatial and temporal pattern in different habitats of the world. In our present study the seasonal behaviour of oribatid mite communities was analysed in three types of microhabitats in a temperate deciduous forest: in leaf litter, soil and moss. Samples were collected at a given site in a year and a half and the oribatid mite communities living there were studied on genus level along with the changes of meteorological factors characteristic of the area. The results show that corresponding to similar previous researches, the communities in our study do not have a seasonally changing, returning pattern either. Based on this, we can conclude that climatic differences and differences in other seasonally changing factors between the seasons do not have a significant role in the annual change of communities. Besides that we discovered that the communities of the three microhabitats are not completely the same. It is the oribatid mite community of the moss which differs mostly from communities in the leaf litter and in the soil. Our study calls attention among others to the fact that compositional changes of the oribatid mite communities living all over the world and their causes are unclear to date.

Change of composition and diversity of species and grassland management between different grazing intensity in Pannonian dry and wet grasslands

Investigations were carried out in wet and dry pasture. Coenological recordings were taken in three zones. The first zone (“A”) located 0-50 m near the stable, second zone (“B”) located 50-150 m from the stable, while the third zone (“C”) located farther than 150 m. We have carried out analyses of ecological and environmental factors and life form types. Based on our results for both dry and wet grasslands, quadrates of “A” zone were well isolated from the rest of the zones. Overgrazing, which involves considerable trampling, vanishes differences among vegetations, thereby promotes weed and disturbance tolerant rich vegetation. The lowest species number and diversity could be found here. Due to the nitrogen enrichment due to the constant presence of livestock, drier and less heat demanding habitat developed in the “A” zones, according to the environmental indicators. Because of the change in management, conservation and diversity values of “C” zone increased, however, according to nature protection values it underperformed compared to “B” zone. According to the sample area, wet grasslands from the sandy areas of Kiskunság, preserve nature protection values and grass composition better moving away from stables, due to less grazing pressure. Drier backgrounds tolerate stronger grazing pressure.

Historical comparisons reveal multiple drivers of decadal change of an ecosystem engineer at the range edge

Biogenic reefs are important for habitat provision and coastal protection. Long-term datasets on the distribution and abundance of Sabellaria alveolata (L.) are available from Britain. The aim of this study was to combine historical records and contemporary data to (1) describe spatiotemporal variation in winter temperatures, (2) document short-term and long-term changes in the distribution and abundance of S. alveolata and discuss these changes in relation to extreme weather events and recent warming, and (3) assess the potential for artificial coastal defense structures to function as habitat for S. alveolata. A semi-quantitative abundance scale (ACFOR) was used to compare broadscale, long-term and interannual abundance of S. alveolata near its range edge in NW Britain. S. alveolata disappeared from the North Wales and Wirral coastlines where it had been abundant prior to the cold winter of 1962/1963. Population declines were also observed following the recent cold winters of 2009/2010 and 2010/2011. Extensive surveys in 2004 and 2012 revealed that S. alveolata had recolonized locations from which it had previously disappeared. Furthermore, it had increased in abundance at many locations, possibly in response to recent warming. S. alveolata was recorded on the majority of artificial coastal defense structures surveyed, suggesting that the proliferation of artificial coastal defense structures along this stretch of coastline may have enabled S. alveolata to spread across stretches of unsuitable natural habitat. Long-term and broadscale contextual monitoring is essential for monitoring responses of organisms to climate change. Historical data and gray literature can be invaluable sources of information. Our results support the theory that Lusitanian species are responding positively to climate warming but also that short-term extreme weather events can have potentially devastating widespread and lasting effects on organisms. Furthermore, the proliferation of coastal defense structures has implications for phylogeography, population genetics, and connectivity of coastal populations.

Historical comparisons reveal multiple drivers of decadal change of an ecosystem engineer at the range edge

Biogenic reefs are important for habitat provision and coastal protection. Long-term datasets on the distribution and abundance of Sabellaria alveolata (L.) are available from Britain. The aim of this study was to combine historical records and contemporary data to (1) describe spatiotemporal variation in winter temperatures, (2) document short-term and long-term changes in the distribution and abundance of S. alveolata and discuss these changes in relation to extreme weather events and recent warming, and (3) assess the potential for artificial coastal defense structures to function as habitat for S. alveolata. A semi-quantitative abundance scale (ACFOR) was used to compare broadscale, long-term and interannual abundance of S. alveolata near its range edge in NW Britain. S. alveolata disappeared from the North Wales and Wirral coastlines where it had been abundant prior to the cold winter of 1962/1963. Population declines were also observed following the recent cold winters of 2009/2010 and 2010/2011. Extensive surveys in 2004 and 2012 revealed that S. alveolata had recolonized locations from which it had previously disappeared. Furthermore, it had increased in abundance at many locations, possibly in response to recent warming. S. alveolata was recorded on the majority of artificial coastal defense structures surveyed, suggesting that the proliferation of artificial coastal defense structures along this stretch of coastline may have enabled S. alveolata to spread across stretches of unsuitable natural habitat. Long-term and broadscale contextual monitoring is essential for monitoring responses of organisms to climate change. Historical data and gray literature can be invaluable sources of information. Our results support the theory that Lusitanian species are responding positively to climate warming but also that short-term extreme weather events can have potentially devastating widespread and lasting effects on organisms. Furthermore, the proliferation of coastal defense structures has implications for phylogeography, population genetics, and connectivity of coastal populations.

Modeling long-term variability and change of soil moisture and groundwater level - from catchment to global scale

The water stored in and flowing through the subsurface is fundamental for sustaining human activities and needs, feeding water and its constituents to surface water bodies and supporting the functioning of their ecosystems. Quantifying the changes that affect the subsurface water is crucial for our understanding of its dynamics and changes driven by climate change and other changes in the landscape, such as in land-use and water-use. It is inherently difficult to directly measure soil moisture and groundwater levels over large spatial scales and long times. Models are therefore needed to capture the soil moisture and groundwater level dynamics over such large spatiotemporal scales. This thesis develops a modeling framework that allows for long-term catchment-scale screening of soil moisture and groundwater level changes. The novelty in this development resides in an explicit link drawn between catchment-scale hydroclimatic and soil hydraulics conditions, using observed runoff data as an approximation of soil water flux and accounting for the effects of snow storage-melting dynamics on that flux. Both past and future relative changes can be assessed by use of this modeling framework, with future change projections based on common climate model outputs. By direct model-observation comparison, the thesis shows that the developed modeling framework can reproduce the temporal variability of large-scale changes in soil water storage, as obtained from the GRACE satellite product, for most of 25 large study catchments around the world. Also compared with locally measured soil water content and groundwater level in 10 U.S. catchments, the modeling approach can reasonably well reproduce relative seasonal fluctuations around long-term average values. The developed modeling framework is further used to project soil moisture changes due to expected future climate change for 81 catchments around the world. The future soil moisture changes depend on the considered radiative forcing scenario (RCP) but are overall large for the occurrence frequency of dry and wet events and the inter-annual variability of seasonal soil moisture. These changes tend to be higher for the dry events and the dry season, respectively, than for the corresponding wet quantities, indicating increased drought risk for some parts of the world.