References

Bachelier, L. (1900) Théorie de la Speculation, Paris, Gauthier-Villars.
Banz, R. (1981) ‘The relationship between return and market value of common stocks’, Journal of Financial Economics, Vol. 9, pp. 3–18.
Barber, B. and Odean, T. (2000) ‘Trading is hazardous to your wealth: the common stock investment performance of individual investors’, <
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3.7 Interest rate risk

This has to be seen in conjunction with the previous comments about the secondary market in shares and debt instruments. An efficient secondary market can ensure that there is always a ready buyer for an investment, but the price at which the investment can actually be sold will depend entirely on market conditions at the time of sale. The secondary market price will not necessarily bear any relation to the price originally paid by the investor. The following example illustrates the general p
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6.6 Professional bodies and societies

Consider joining a learned society or professional organisation. They can be very useful for conference bulletins as well as in-house publications, often included in the subscription. Don't forget to ask about student rates. Try looking for the websites of learned societies associated with your subject area (e.g. The Royal Society, the Institute of Electrical
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6.5 RSS

RSS (‘Really Simple Syndication’ or ‘Rich Site Summary’) newsfeeds supply headlines, links, and article summaries from various websites. By using RSS ‘feedreader’ software you can gather together a range of feeds and read them in one place: they come to you, rather than you having to go out and look for breaking news. The range of RSS feeds on offer is growing daily. There is probably a feed to cover all aspects of your life where you might need the latest information, and you may
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4.5 M is for Method

Method is about the way in which a piece of information is produced. This is quite a complex area as different types of information are produced in different ways. These are a few suggestions to look out for:

Opinions – A lot of information is based on the opinion of individuals. They may or not be experts in their field (see P for Provenance) but the key message is to be clear that it is just an opinion and must be valued as such.

Research – You don’t have t
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2.2.1 Checklist of common features

  • Is there any online help?

  • Can I do a simple search?

  • Can I look at the information in both short and detailed form?

  • Can I choose where in the record I want my search terms to be found?

  • Can I search for phrases?

  • Can I combine search terms?

  • Can I use truncation?

  • Can I use wildcards?

  • Can I do an advanced search?

  • Can I get a list
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2.2 Modern history – an evolution

So, what is modern about ‘modern medicine’? Several key scholars – notably Schwartzman (1976), Gambardella (1995), Galambos and Sturchio (1996) and Henderson et al. (1999) – have detected a pattern in the recent development of the industry which may help address this question. According to these scholars, the modern history of the industry can be analysed as an evolutionary process. This may involve changes, which are self-created, or adaptation to discrete technological or institutio
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1 Characteristics of service provision

Choosing a service provider tends to be far more difficult than choosing a supplier of goods. While there may be tangible components in the service an HR consultant offers, what HR consultants provide is largely intangible. As a starting point the following activity asks you to consider the issues likely to be involved in the initial decision to use a consultant.

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Learning outcomes

After studying this unit you should be able to:

  • appreciate the characteristics of consultancy when viewed as a service offered for sale;

  • as client, identify suitable contexts for using consultants;

  • as client, identify, gather information on, and evaluate the suitability of competing consultants.


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1.8 Summary

In this unit we have looked at how companies raise equity finance.

We have examined how companies may move from private equity finance, supported by the venture capital companies, to public equity finance through an IPO. We then went on to study seasoned or secondary equity offerings (SEOs) with particular focus on rights issues.

We looked at why companies may choose to list on more than one exchange and at the circumstances that might lead to a company de-listing and reverting to
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1.7 Monitoring equity performance

For those equities in issue their current market value and some indicators of their performance are provided in the daily press. Table 3 shows the closing levels and the volume of shares traded in respect of a selection of companies on the London, New York, Frankfurt and Tokyo Stock Exchanges on 7 June 2005.

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References

Adams, J. (1995) Risk, London, Routledge, Taylor & Francis.
Anderson, N.R. (1992) ‘Eight decades of employment interview research: a retrospective meta-review and prospective commentary’, European Work and Organizational Psychologist, vol. 2, pp.1–32.
Bazerman, M. (1998) Judgement in Managerial Decision Making, New York, John Wiley.

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Conclusion

We hope this unit has set you thinking about how you and others make decisions. It has been a very brief and to some extent shallow introduction to some quite complex ideas. The reference list should give you some pointers to further resources which will help you explore this topic in greater depth.

Before you move on take some time for a final activity.

Activity 3

In Author(s): The Open University

5.6 A way of dealing with social pressures: decoupling

Organisations often deal with these social pressures by decoupling responses to these different pressures. The need to appear legitimate in the eyes of important constituencies is met by actions and practices which have a purely ceremonial character: they are done for the sake of appearances and not with any real engagement. The example in Author(s): The Open University

Learning outcomes

After studying this unit you will:

  • understand the need for organisations to acknowledge the influence of their environments and the impact that they in turn as organisations have on those environments.


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Introduction

‘Environment’ is one of the more popular words in the management lexicon, most generally understood to be referring to ‘something outside’. But common usage today often interprets the Environment (with or without the capital ‘E’) as referring to the planetary ecosystem. On that basis the Environment includes such things as global warming, the state of the ozone layer, deforestation and the means of energy generation. Organisations need to coexist with their environment, responding
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1 Economic function of the entrepreneur

Broadly, entrepreneurs have two vital roles to play in the economy (1) to introduce new ideas and (2) to energise business processes. Strictly speaking, the term entrepreneur, which derives from the French words entre (between) and prendre (to take), referred to someone who acted as an intermediary in undertaking to do something. The term was originally used to describe the activities of what today we might call an impresario, a promoter or a deal maker. The entrep
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Learning outcomes

After studying this unit you should:

  • understand the nature of entrepreneurship;

  • understand the function of the entrepreneur in the successful, commercial application of innovations;

  • confirm your entrepreneurial business idea;

  • identify personal attributes that enable best use of entrepreneurial opportunities;

  • explore entrepreneurial leadership and management style;

  • identify the requirements for building an
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References

Boddy, D. and Buchanan, D. (1992) Take the Lead: Interpersonal Skills for Project Managers, London, Prentice Hall.
Buchanan, D. and Badham, R (1999) Power, Politics and Organizational Change, London, Sage.
Deeble, S. (1999) ‘Holding hands on the brands’, The Guardian, 17 July.
Fowler, A. and Walsh, M. (1999)
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2 Why projects fail – the dimensions of failure

Unfortunately, projects are not always completely successful and the consequences of an unsuccessful project can be significant politically, financially and socially for organisations and for the people who carry out the project. Considering the key dimensions of a project (budget, time and quality) there are three obvious ways in which one might fail:

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