Department of Management

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    The long-lasting and damaging influence of commissions on experts’ advice

The long-lasting and damaging influence of commissions on experts’ advice

Experts often face a dilemma when clients ask for advice on risky decisions. For example, your financial adviser might be tempted to sell you a risky investment on which he earns sales commission or other benefits – even though he thinks that a more conservative investment would suit you better. Such behaviour then collides with the ideal of giving […]

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    With software updates, Tesla upends product life cycle in the car industry

With software updates, Tesla upends product life cycle in the car industry

Traditionally, cars are sold as finished and complete products, with a price premium attached to the specification and quality of design and craftsmanship. The buyers do not expect new cars to improve or change once they are rolled out of the dealer’s premises. Only occasional maintenance services, software updates or repairs are carried out to keep cars functional. To […]

Can data sharing improve public services?

Ball, by geralt, under a CC0 licence
It is easy to see the appeal of data-sharing as means of fixing problems with the delivery of public services. Take data set X held in one part of government, share it with a different part of government that has another data set Y. Combine data sets X and Y and use the […]

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    Why we seldom hear of transgender employees in our workplaces

Why we seldom hear of transgender employees in our workplaces

Wall, by josemdelaa, under a CC0 licence
Given advances in the gay, lesbian and bisexual movement over the last several decades, society assumes that the achievement has been similar for the transgender community (those whose gender identity does not correspond to the sex they were assigned at birth). Despite the increasing public presence of transgender (or ‘trans’) individuals in entertainment and […]

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    Time to retire the stereotype of bankers as reckless anti-heroes

Time to retire the stereotype of bankers as reckless anti-heroes

Arkham City Joker, by greyloch, under a CC-BY-SA-2.0 licence

Imagine a world where financial institutions are characterised by pay proposals that break the cycle of pay inflation; by traders enjoying long careers within one organisation and by senior management adopting a pragmatic attitude to risk. My guess is that you can’t.

It’s difficult to think of bankers as anything other than the stereotype […]

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    From gratitude to resentment: The downside of working from home

From gratitude to resentment: The downside of working from home

Office work, by Unsplash, under a CC0 licence
It’s common for employers keen to promote a healthy modern workplace culture to offer at least some degree of flexible working to employees, whether they are parents who duck out of the office early to make the school run, those faced with lengthy commutes or even employees who simply wish to stay […]

Biotechnology: Why does Europe lag behind the US?

Flasks, by Republica, under a CC0 licence
Of all the new technologies that have emerged since the Second World War, biotechnology is notable in the extent to which US-based firms, having taken the lead at the start, continue to dominate the world market. Why has it been so difficult for other countries to catch up?

Biotechnology in this context refers to […]

How to co-lead a team

Blue Angels maneuvers, Kaneohe Bay Air Show 2010, by Lance Cpl. Tyler L. Main, Public Domain, via Wikimedia Commons
We don’t lead alone. We lead with others. The days of the ‘Great Man’ theory of Leadership – where one sole leader rules over the masses from their ivory tower, are long gone.

Some of us quite literally lead with another person – […]

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    Why is there so little foreign direct investment in the Western Balkans?

Why is there so little foreign direct investment in the Western Balkans?

Western Balkans, by Olahus, own work, under a CC BY-SA 3.0 licence, via Wikimedia Commons
It is now more than quarter of a century since the demise of socialist economies in Europe was put in motion by the fall of the Berlin Wall. In many parts of Central and Eastern Europe, the transition from socialist planning to market capitalism is all but […]

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    Integrating digital systems to help city residents plan seamless journeys

Integrating digital systems to help city residents plan seamless journeys

One thing I love about this city…, by torbakhopper, under a CC-BY-2.0 licence
The 21st century has seen a growing recognition of the importance of cities in the world: not only does over half of humanity live in cities, but cities contribute 60 per cent of global GDP, consume 75 per cent of the world’s resources and generate 75 per cent […]

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    Most multinationals use unaffiliated suppliers in their supply chains

Most multinationals use unaffiliated suppliers in their supply chains

The global nature of supply chains has rapidly come to dominate international trade. This column presents new evidence on production fragmentation and intra-firm trade. For US corporations, cross-country shipments of goods between units of the corporation are rare, despite the fact that most US manufacturing parents own foreign affiliates in upstream or downstream industries.

In 1997, the chipmaker Intel invested […]

Why pay packages based on fair criteria matter

 

Happiness has a large relational (or relative) component. The amount of utility an individual derives from, say, an annual salary of $V depends, in part, on how $V compares to the salary $X received by a referent other (for example, a co-worker [Bruce Kaufman, 1999]

Overview

Let us start with the premise that what workers say and feel actually matters. In […]

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    Does special treatment in trade benefit developing countries?

Does special treatment in trade benefit developing countries?

At the launch of the Doha Round, ministers of the World Trade Organization (WTO) stated that a central goal of the negotiations was “to improve the trading prospects [and to] ensure that developing countries […] secure a share in the growth of world trade commensurate with the needs of their economic development.” Fifteen years later, the Doha Round has […]

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    The UK’s digital identity system explores business applications

The UK’s digital identity system explores business applications

It all started just over five years ago (6 July 2011 to be precise) when I received an email from Bill McCluggage, then Director of ICT Strategy and Policy, inviting me to join a new group that would help ensure that the Cabinet Office’s new identity assurance programme would engage effectively with relevant stakeholders and “incorporate issues related to […]

The UK suffers a shortage of nurses

A year ago, the Migration Advisory Committee (MAC) reviewed part of the country’s ‘shortage occupation list’ (SOL). The SOL features job titles and occupations with priority for Tier 2 work visas for skilled migrants from outside the European Economic Area (EEA). Migrants in such jobs do not have to earn the minimum £35,000 pay threshold that is now required […]

Working in the cloud means working all the time

Technological advancements, such as Artificial Intelligence, Robotic Process Automation or Big Data are often considered major drivers for the future of work. Current debate on this topic mostly focuses on which tasks and jobs will be delegated to machines and how employees can deal with the uncertainty of career choice. In a recent report, the World Economic Forum provides […]

Regular exercise makes us better decision-makers

It is well established that regular exercise is good for your physical and mental health. Exercise improves brain functioning and slows down age-related decline in cognitive abilities, such as memory and thinking skills.

It is not surprising that promoting physical activity in the workplace has become a trend in the corporate world lately. US businesses now spend about $6 billion […]

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    Everyone loses when the values of employees clash with those of the firm

Everyone loses when the values of employees clash with those of the firm

In academic circles “value incongruence” is defined as the difference between an individual’s personal value hierarchy and the perceived value hierarchy of an organisation.

More simply, the term is used to describe instances where an employee’s values are at odds with those of the organisation they work for, resulting in developing negative attitudes towards their role, their organisation and themselves.

The […]

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    The idea of robots as independent machines is science fiction

The idea of robots as independent machines is science fiction

Robots and intelligent systems have gained a significant amount of attention recently. Various authors and reports detail advances in robotics and artificial intelligence and speculate on the role of humans in the robotic future. In such commentaries, robots are often presented as independent and tireless machines that are rational and efficient; they are removed from their creators and contexts […]

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    Robots are a long way off replicating human will and imagination

Robots are a long way off replicating human will and imagination

Upon checking into the Henn-na Hotel near Nagasaki in Japan, guests are greeted by an impeccably dressed, well mannered, multilingual receptionist who recognises them on sight. She’s incredibly efficient at her job, she’s always on time and has no problem staying late without overtime pay. In fact, she never asks for any pay at all. Why? She’s a robot.

The […]