The role of market orientation in the business success of MNCs' UK subsidiaries

Purpose - The paper aims to explore the role of market orientation in the multinational company's subsidiary's business performance. Design/methodology/approach - The paper is based on a questionnaire survey/analysis of a sample of 252 foreign subsidiaries in the UK. Findings - The paper finds that market orientation is a key driver for business performance at foreign subsidiaries. However, the strength of its impact on performance depends on the subsidiary role. Originality/value - This is the first systematic investigation of the role of market orientation in multinational companies' subsidiaries.

Stakeholder performance measurement:general approaches and methods of economic evaluation

This paper begins by suggesting that when considering Corporate Social Responsibility (CSR), even CSR as justified in terms of the business case, stakeholders are of great importance to corporations. In the UK the Company Law Review (DTI, 2002) has suggested that it is appropriate for UK companies to be managed upon the basis of an enlightened shareholder approach. Within this approach the importance of stakeholders, other than shareholders, is recognised as being instrumental in succeeding in providing shareholder value. Given the importance of these other stakeholders it is then important that corporate management measure and manage stakeholder performance. In order to do this there are two general approaches that could be adopted and these are the use of monetary values to reflect stakeholder value or cost and non-monetary values. In order to consider these approaches further this paper considered the possible use of these approaches for two stakeholder groups: namely employees and the environment. It concludes that there are ethical and practical difficulties with calculating economic values for stakeholder resources and so prefers a multi-dimensional approach to stakeholder performance measurement that does not use economic valuation.

Shareholder or stakeholder management:strategies for performance optimisation

This paper is based upon the findings of a CIMA research project into the way which corporate performance is affected by the performance measurement system adopted. It compares and contrasts the techniques in use in a sample of large companies that use a variety of techniques. We have classified these techniques into 3 types: • Value based management techniques • Stakeholder management techniques • Traditional accounting techniques. The analysis traces the interactions between corporate objectives, decision making criteria, performance measurement systems, and executive incentive schemes in order to develop an understanding of the effects of such techniques upon corporate performance. This paper seeks to provide some answers to the following two questions: • What approach leads to superior performance for a firm? • What is different between these approaches when they are used in practice, as distinct from theory? In doing so we have drawn upon both contingency theory and sociobiology theory to develop a framework for understanding the relationship between the choke of performance measurement system and the resulting performance.

The impacts of market orientation and corporate social responsibility on firm performance:evidence from China

Purpose – The purpose of this paper is to investigate the joint effects of market orientation (MO) and corporate social responsibility (CSR) on firm performance. Design/methodology/approach – Data were collected via a questionnaire survey of star-rated hotels in China and a total of 143 valid responses were received. The hypotheses were tested by employing structural equation modelling with a maximum likelihood estimation option. Findings – It was found that although both MO and CSR could enhance performance, once the effects of CSR are accounted for, the direct effects of MO on performance diminish considerably to almost non-existent. Although this result may be due to the fact that the research is conducted in China, a country where CSR might be crucially important to performance given the country's socialist legacy, it nonetheless provides strong evidence that MO's impact on organizational performance is mediated by CSR. Research limitations/implications – The main limitations include the use of cross-sectional data, the subjective measurement of performance and the uniqueness of the research setting (China). The findings provide an additional important insight into the processes by which a market oriented culture is transformed into superior organizational performance. Originality/value – This paper is one of the first to examine the joint effects of MO and CSR on business performance. The empirical evidence from China adds to the existing literature on the respective importance of MO and CSR.

Spatial and temporal dependencies of cross-orientation suppression in human vision.

A well-known property of orientation-tuned neurons in the visual cortex is that they are suppressed by the superposition of an orthogonal mask. This phenomenon has been explained in terms of physiological constraints (synaptic depression), engineering solutions for components with poor dynamic range (contrast normalization) and fundamental coding strategies for natural images (redundancy reduction). A common but often tacit assumption is that the suppressive process is equally potent at different spatial and temporal scales of analysis. To determine whether it is so, we measured psychophysical cross-orientation masking (XOM) functions for flickering horizontal Gabor stimuli over wide ranges of spatio-temporal frequency and contrast. We found that orthogonal masks raised contrast detection thresholds substantially at low spatial frequencies and high temporal frequencies (high speeds), and that small and unexpected levels of facilitation were evident elsewhere. The data were well fit by a functional model of contrast gain control, where (i) the weight of suppression increased with the ratio of temporal to spatial frequency and (ii) the weight of facilitatory modulation was the same for all conditions, but outcompeted by suppression at higher contrasts. These results (i) provide new constraints for models of primary visual cortex, (ii) associate XOM and facilitation with the transient magno- and sustained parvostreams, respectively, and (iii) reconcile earlier conflicting psychophysical reports on XOM.

Low spatial frequencies are suppressively masked across spatial scale, orientation, field position, and eye of origin

Masking is said to occur when a mask stimulus interferes with the visibility of a target (test) stimulus. One widely held view of this process supposes interactions between mask and test mechanisms (cross-channel masking), and explicit models (e.g., J. M. Foley, 1994) have proposed that the interactions are inhibitory. Unlike a within-channel model, where masking involves the combination of mask and test stimulus within a single mechanism, this cross-channel inhibitory model predicts that the mask should attenuate the perceived contrast of a test stimulus. Another possibility is that masking is due to an increase in noise, in which case, perception of contrast should be unaffected once the signal exceeds detection threshold. We use circular patches and annuli of sine-wave grating in contrast detection and contrast matching experiments to test these hypotheses and investigate interactions across spatial frequency, orientation, field position, and eye of origin. In both types of experiments we found substantial effects of masking that can occur over a factor of 3 in spatial frequency, 45° in orientation, across different field positions and between different eyes. We found the effects to be greatest at the lowest test spatial frequency we used (0.46 c/deg), and when the mask and test differed in all four dimensions simultaneously. This is surprising in light of previous work where it was concluded that suppression from the surround was strictly monocular (C. Chubb, G. Sperling, & J. A. Solomon, 1989). The results confirm that above detection threshold, cross-channel masking involves contrast suppression and not (purely) mask-induced noise. We conclude that cross-channel masking can be a powerful phenomenon, particularly at low test spatial frequencies and when mask and test are presented to different eyes. © 2004 ARVO.

Chronic administration of an aluminium-enriched diet impairs spatial orientation in a sub-group of C57BL6 female mice

Disturbances of spatial orientation are an early clinical component of senile dementia of the Alzheimer type (SDAT). since it has been suggested that an elevated aluminium intake associated with chronic nutritional deficiencies of calcium and magnesium may play an important role in the aetiology of SDAT, we have investigated the effect of such a dietary regime on the spatial orientation abilities of female C57BL6 mice using the Morris swimming pool test. Statistical analysis of the performances of control and experimental groups indicate that the ability to orientate towards a submerged and thus invisible platform is conistently and markedly impaired in the experimental group. The ability to orientate towards a visible platform is also significantly impaired although to a lesser extent. Analysis of the performances of individual animals demonstrate that this impairment of orientation in the experimental group only occurs in a sub-group of animals: the remainder display normal orientational ability.

Visual search for object orientation can be modulated by canonical orientation

The authors studied the influence of canonical orientation on visual search for object orientation. Displays consisted of pictures of animals whose axis of elongation was either vertical or tilted in their canonical orientation. Target orientation could be either congruent or incongruent with the object's canonical orientation. In Experiment 1, vertical canonical targets were detected faster when they were tilted (incongruent) than when they were vertical (congruent). This search asymmetry was reversed for tilted canonical targets. The effect of canonical orientation was partially preserved when objects were high-pass filtered, but it was eliminated when they were low-pass filtered, rendering them as unfamiliar shapes (Experiment 2). The effect of canonical orientation was also eliminated by inverting the objects (Experiment 3) and in a patient with visual agnosia (Experiment 4). These results indicate that orientation search with familiar objects can be modulated by canonical orientation, and they indicate a top-down influence on orientation processing. (PsycINFO Database Record (c) 2010 APA, all rights reserved)

The development of a market orientation in a turbulent, transitional environment:the case of Ukraine

This research is concerned with the case of Ukraine where there has been a fundamental change in the economic environment engendered by the transition from a centrally planned to a market economy and the resulting conditions of economic crisis. The way that Ukrainian marketers and consumers are reacting to this environmental change is the principal concern of the research together with the basic linkages between critical environmental elements and strategic marketing decisions. This research analyses the way in which marketing evolves in a turbulent, transitional environment. The study is based on eight case analyses within the retail sector of the Ukrainian market. The process of transition to a free market economy leads a researcher to question the validity of existing theories that have been based on empirical data that has been collected in the stable marketing environment of the West. For this reason an in-depth, theory building methodology is preferred. A number of broad research objectives were set. Firstly, to establish whether the sales - production - marketing stages model of marketing evolution, derived from empirical data collected in stable Western environments, is relevant in the context of the turbulent, transitional environment of Ukraine. Secondly, to establish if, in this turbulent, transitional environment, idiosyncratic approaches to marketing are emerging and thirdly to assess the development of attitudes to marketing, organisation for marketing and the development of marketing strategy in Ukraine. The main conclusions of this thesis are firstly, that the stages model of marketing orientation is not relevant in the context of Ukraine, secondly that there are idiosyncratic approaches to marketing emerging in the turbulent, transitional environment of Ukraine and finally that the above developments have a profound impact on the development of attitudes to marketing, organisation for marketing and the development of marketing strategy in Ukraine.

Internal market orientation:construct, measurement and consequences

This thesis contributes to the paucity of marketing research into the area of internal marketing. Drawing from knowledge developed in a diverse range of marketing and management literatures, the domaill of internal marketing is clarified Gild a new concept, internal market orientation is developed. A new instrument, measuring the internal market orientation, is developed and subjected to standard scale development procedures. Six dimensions of the construct are confirmed; collegial interaction, group interaction, jorlllal interaction, external envirollment, wage flexibility and job flexibility. A sample of 766 UK retail store managers are surveyed to identify levels of internal market orientation and external market orientation in large UK multi-product, multi-site retailers and the structural relationships between internal market orientation, extemal market orientation alld company performance are examined. The external market orientation construct is applied to the local retail market and established measurement instruments adapted to this pwpose. Three measures of performance are employed ill this study. The structural relationships between the six dimensions of internal market orientation and the three dimensions of external market orientation are examined employing structural equations methodology, using LISREL 8.3. alld the impact of internal market orientation Oil external market orientation and company performance is measured. The study finds no direct link between internal market orientation and financial performance but does identify the moderated role of internal market orientation on financial performance. Significant relationships between three of the six dimensions of internal market orientation and the three dimensions of external market orientation are identified and the impact of internal market orientation on the retention of employees and their behaviour is also identified. The research findings contribute to marketing theory by providing empirical evidence to support the long held assumption that internal marketing has an impact on marketing success and offers an explanation of the mechanism by which this influence operates. For marketing practitioners, the research findings offer additional information on which services marketing strategies may be formulated.

Process orientation and information technology:customer engagement at Xerox (UK) Ltd

Xerox Customer Engagement activity is informed by the "Go To Market" strategy, and "Intelligent Coverage" sales philosophy. The realisation of this philosophy necessitates a sophisticated level of Market Understanding, and the effective integration of the direct channels of Customer Engagement. Sophisticated Market Understanding requires the mapping and coding of the entire UK market at the DMU (Decision Making Unit) level, which in turn enables the creation of tailored coverage prescriptions. Effective Channel Integration is made possible by the organisation of Customer Engagement work according to a single, process defined structure: the Selling Process. Organising by process facilitates the discipline of Task Substitution, which leads logically to creation of Hybrid Selling models. Productive Customer Engagement requires Selling Process specialisation by industry sector, customer segment and product group. The research shows that Xerox's Market Database (MDB) plays a central role in delivering the Go To Market strategic aims. It is a tool for knowledge based selling, enables productive SFA (Sales Force Automation) and, in sum, is critical to the efficient and effective deployment of Customer Engagement resources. Intelligent Coverage is not possible without the MDB. Analysis of the case evidence has resulted in the definition of 60 idiographic statements. These statements are about how Xerox organise and manage three direct channels of Customer Engagement: Face to Face, Telebusiness and Ebusiness. Xerox is shown to employ a process-oriented, IT-enabled, holistic approach to Customer Engagement productivity. The significance of the research is that it represents a detailed (perhaps unequalled) level of rich description of the interplay between IT and a holistic, process-oriented management philosophy.

Stakeholder accounting : the case of the electricity industry in England and Wales

This thesis proposes to explore the potential for stakeholder based accounting as a means to explain the social performance of organisations. It argues that organisations have a contract with society and as a consequence they must be accountable to that society for their actions. Further, it is suggested that as part of this accountability there is a broader need in the public interest for social accounting. Due to the pluralistic nature of modern societies it is argued that a stakeholder framework is one way in which this accountability can be achieved. In order to consider the nature of such social accounting a case study of the electricity industry in England and Wales is undertaken. This industry is very important to modern society, has significant environment implications and has a recent history of remarkable change. These factors make it an interesting and unique case within which to consider accountability. From the performance measurement and accounting literature and a series of interviews with both stakeholders and privatised companies a model of stakeholder performance is developed. This is then used to analyse the electricity industry in England and Wales since privatisation. The objective is to demonstrate how certain stakeholders have fared, whether they have won or lost. Further, institutional and resource dependency theories are used to consider what factors determine the relative success or failure of the different stakeholder groups. Finally the possible implications of recent developments in Social Accounting Standards, such as the Global Reporting Initiative (GRI), AccountAbility 1000 (AA1000) and Social Accountability 8000 (SA8000), and the potential for Internet reporting are considered.