Consumer price knowledge in the market for apparel

Purpose – The aim of this study is to analyze consumers' price knowledge in the market for apparels. Design/methodology/approach – After reviewing earlier attempts at assessing the construct, the price estimation error “PEE” was used, a measure based on explicit price knowledge stored in long-term memory, as a valid indicator of price knowledge. Findings – The results, including data from about 1,527 consumers on 66 products from the German apparel market, indicate that price knowledge is relatively low. Originality/value – Although, in the literature, there are several studies on price knowledge in the food industry, little is known about price knowledge in other industry sectors. This is quite surprising since pricing strategy is a concept which is vitally important to all retailers. Therefore, this study is a first contribution to extending the concept of behavioral pricing to the apparel market.

Market-driven strategies and the design of flexible production systems: evidence from the electronics industry

Links the concept of market-driven business strategies with the design of production systems. It draws upon the case of a firm which, during the last decade, changed its strategy from being “technology led” to “market driven”. The research, based on interdisciplinary fieldwork involving long-term participant observation, investigated the factors which contribute to the successful design and implementation of flexible production systems in electronics assembly. These investigations were conducted in collaboration with a major computer manufacturer, with other electronics firms being studied for comparison. The research identified a number of strategies and actions seen as crucial to the development of efficient flexible production systems, namely: effective integration of subsystems, development of appropriate controls and performance measures, compatibility between production system design and organization structure, and the development of a climate conducive to organizational change. Overall, the analysis suggests that in the electronics industry there exists an extremely high degree of environmental complexity and turbulence. This serves to shape the strategic, technical and social structures that are developed to match this complexity, examples of which are niche marketing, flexible manufacturing and employee harmonization.

Benevolent sexism at work:gender differences in the distribution of challenging developmental experiences

The current research draws from ambivalent sexism theory to examine potential gender differences in the quantity and quality of developmental work experiences. In a sample of managers in the energy industry, men and women reported participating in a similar number of developmental experiences (with comparable levels of support), but men rated these experiences as more challenging and received more negative feedback than did women. Similarly, a sample of female managers in the health care industry reported comparable amounts, but less challenging types, of developmental experiences than their male counterparts'. The results of three complementary experiments suggest that benevolent sexism is negatively related to men's assignment of challenging experiences to female targets but that men and women were equally likely to express interest in challenging experiences. Taken together, these results suggest that stereotype-based beliefs that women should be protected may limit women's exposure to challenging assignments, which in turn may partially explain the underrepresentation of women at the highest levels of organizations. © The Author(s) 2012.

Essential BIM input data study for housing refurbishment:homeowners’ preferences in the UK

Construction customers are persistently seeking to achieve sustainability and maximize value as sustainability has become a major consideration in the construction industry. In particular, it is essential to refurbish a whole house to achieve the sustainability agenda of 80% CO2 reduction by 2050 as the housing sector accounts for 28% of the total UK CO2 emission. However, whole house refurbishment seems to be challenging due to the highly fragmented nature of construction practice, which makes the integration of diverse information throughout the project lifecycle difficult. Consequently, Building Information Modeling (BIM) is becoming increasingly difficult to ignore in order to manage construction projects in a collaborative manner, although the current uptake of the housing sector is low at 25%. This research aims to investigate homeowners’ decision making factors for housing refurbishment projects and to provide a valuable dataset as an essential input to BIM for such projects. One-hundred and twelve homeowners and 39 construction professionals involved in UK housing refurbishment were surveyed. It was revealed that homeowners value initial cost more while construction professionals value thermal performance. The results supported that homeowners and professionals both considered the first priority to be roof refurbishment. This research revealed that BIM requires a proper BIM dataset and objects for housing refurbishment.

The value of risk reporting:a critical analysis of value-at-risk disclosures in the banking sector

This paper critically reviews the evolution of financial reporting in the banking sector with specific reference to the reporting of market risk and the growing use of the measure known as Value at Risk (VaR). The paper investigates the process by which VaR became 'institutionalised'. The analysis highlights a number of inherent limitations of VaR as a risk measure and questions the usefulness of published VaR disclosures, concluding that risk 'disclosure' might be more apparent than real. It also looks at some of the implications for risk reporting practice and the accounting profession more generally.

B2B e-marketplaces in the procurement supply chain of airlines: a strategic direction for the future?:a strategic direction for the future?

With the airline industry experiencing a global economic downturn, B2B e-Business is becoming more and more the focus of airlines’ strategies. More recently, airlines have studied intensively the potential of joint-procurement possibilities and have taken measures in creating consortia-led B2B e-Marketplaces as mediators for aggregating demand and to facilitate transactions. In academic literature, limited academic research has been undertaken in exploring the value creation of B2B e-Marketplace models in the aviation industry. The aim is to conduct a theoretical analysis to explore whether or not e-Marketplaces have the potential to add value to procurement in the aviation industry. The research focuses on the potential of B2B e-Marketplaces in terms of improving an airline’s competitiveness in its procurement value chain. The theoretical framework adopted supports the identification of barriers to success and critical success factors.

Venus and Leadership: Women Hospitality Leaders

The authors report on a survey of 234 women executives in the hospitality industry using factor analysis to discover the seven underlying dimensions of women leaders: perseverance, trust, inner values, responsibility, stewardship, communication, and vision.

Career Longevity of Hospitality Graduates

A survey of hospitality alumni from two- and four-year programs, including those currently employed in the industry and those who have departed from the industry shows that within five years of graduation, 38 percent of hospitality graduates have left employment in the hospitality industry or chose to never enter the industry for which they trained. Factors affecting the graduates' career Longevity their likes and dislikes about employment, and their reasons for continuing employment or exiting were examined.

Management Training Theories: Tools for Hospitality Managers and Trainers

Management training in the hospitality industry is as important as employee training. There are a number of effective models and approaches for training effective managers. The author reviews these models and offers guidelines for maximizing the results from each of these approaches.

Managing International Hospitality

To understand today's hospitality industry, executives need to recognize its international dimension. In this, the first part of a two-part article on the international dimension of hospitality, the author considers the forces driving hospitality's internationalization, the advantages drawing foreign investment into the North American market, and the patterns of expansion of American firms in overseas markets. The article is excerpted from Introduction to Management in the Hospitality Industry, New York: John Wiley & Sons, 1992.

Front-of-the-House Computer Systems: A User's Guide

In a previous issue, DL Alan J. Parker presented a case for the smart utilization of microcomputers in the hospitality industry. But what should hotel managers of today look for when utilizing a full scale hotel computer system? This article attempts to aid the hotelier in compiling a series of functions which management should expect from any system chosen

Effects of Management-Development Practices on Hospitality Management Graduates' Job Satisfaction and Intention to Stay

Companies have long recognized the importance of training and developing their managers to prepare them for their short- and long-term careers. Formal management-development programs and other less formal means of management development abound in the hospitality industry. Therefore, one may ask whether the entry-level managers for whom these programs are designed perceive them to be effective. The present study explores management-development practices, procedures, and techniques, and their effects on job satisfaction and organizational commitment

Database As A Tool For Hospitality Management

In his discussion - Database As A Tool For Hospitality Management - William O'Brien, Assistant Professor, School of Hospitality Management at Florida International University, O’Brien offers at the outset, “Database systems offer sweeping possibilities for better management of information in the hospitality industry. The author discusses what such systems are capable of accomplishing.” The author opens with a bit of background on database system development, which also lends an impression as to the complexion of the rest of the article; uh, it’s a shade technical. “In early 1981, Ashton-Tate introduced dBase 11. It was the first microcomputer database management processor to offer relational capabilities and a user-friendly query system combined with a fast, convenient report writer,” O’Brien informs. “When 16-bit microcomputers such as the IBM PC series were introduced late the following year, more powerful database products followed: dBase 111, Friday!, and Framework. The effect on the entire business community, and the hospitality industry in particular, has been remarkable”, he further offers with his informed outlook. Professor O’Brien offers a few anecdotal situations to illustrate how much a comprehensive data-base system means to a hospitality operation, especially when billing is involved. Although attitudes about computer systems, as well as the systems themselves have changed since this article was written, there is pertinent, fundamental information to be gleaned. In regards to the digression of the personal touch when a customer is engaged with a computer system, O’Brien says, “A modern data processing system should not force an employee to treat valued customers as numbers…” He also cautions, “Any computer system that decreases the availability of the personal touch is simply unacceptable.” In a system’s ability to process information, O’Brien suggests that in the past businesses were so enamored with just having an automated system that they failed to take full advantage of its capabilities. O’Brien says that a lot of savings, in time and money, went un-noticed and/or under-appreciated. Today, everyone has an integrated system, and the wise business manager is the business manager who takes full advantage of all his resources. O’Brien invokes the 80/20 rule, and offers, “…the last 20 percent of results costs 80 percent of the effort. But times have changed. Everyone is automating data management, so that last 20 percent that could be ignored a short time ago represents a significant competitive differential.” The evolution of data systems takes center stage for much of the article; pitfalls also emerge.

Interpersonal Techniques Boost your "Hospitality Batting Average"

The ability to listen and comprehend the intrinsic meaning behind the words people are saying is an important skill for those in the hospitality industry. The author provides some prescriptions for "winning friends and influencing people.”

Human Capital Decisions and Employee Satisfaction at Selected Hotels in India

Understanding the role of human capital is one of the key considerations in delivering and sustaining competitiveness. Managing employees in the hospitality industry is particularly a challenging task as the industry is considered to be labor intensive. High turnover and increasing employee demands are among the problems that are identified as threats to maintaining a strong competitive position. Successful hotels attempt to retain their best employees in an effort to adapt to changing environments and increased competition. Effective hotel human resource systems can produce positive outcomes, through effective employee retention strategies that focus on work force motivation, attitudes and perception. The positive implementation of these strategies can influence and create employee satisfaction. This study aims to focus on the relationship between the mediating variables of motivation, attitudes, perception and their effect on employee satisfaction. These findings are based upon an extensive survey carried out between April 2009 and June 2009 in the small mountainous state of Uttarakhand, located within the Indian sub-continent. Although the area of study is confined to the Kumaon region of Uttarakhand, the authors contend that the findings and implications can be applied to other remote developing tourist destinations in other regions.