Business Investment Strategy and Firm Performance: A Comparative Examination of Accounting and Market‐Based Measures

This study examined the relationship between 130 firm’s business investment strategy and their firm performance, as measured by return on investment (ROI) and earnngs per share (EPS). ROI was used as the accounting performance measure and EPS was used as the market-based performance measure. Results indicate that the accounting performance measure (ROI) may be more appropriate for firms pursuing share-increasing and turnaround business investment strategies. Whereas both accounting (ROI) and market-based (EPS) measures may be more appropriate for firms pursuing less risky profit-oriented business investment strategies

Service quality and consumers' experience: Towards an interpretive approach

As marketers and researchers we understand quality from the consumer's perspective, and throughout contemporary service quality literature there is an emphasis on what the consumer is looking for, or at least that is the intention. Through examining the underlying assumptions of dominant service quality theories, an implicit dualistic ontology is highlighted (where subject and object are considered independent) and argued to effectively negate the said necessary consumer orientation. This fundamental assumption is discussed, as are the implications, following a critical review of dominant service quality models. Consequently, we propose an alternative approach to service quality research that aims towards a more genuine understanding of the consumer's perspective on quality experienced within a service context. Essentially, contemporary service quality research is suggested to be limited in its inherent third-person perspective and the interpretive, specifically phenomenographic, approach put forward here is suggested as a means of achieving a first-person perspective on service quality

Supply chain strategies in the UK fashion industry - the rhetoric of partnership and realities of power

This paper focuses on the fashion industry, one characterised by issues such as dramatic shifts in the scale and power of major retail buyers in the market, the advent of retailer own brands, and the nature of sourcing and supply chain decisions, issues that are increasingly global in nature. The aim of this research is to explore the nature of relationships between UK high street multiple fashion retailers and their contracted suppliers, many of whom are entrepreneurial firms by most definitions of the term. Four core themes emerge from the literature and provide a framework for the research, namely, power, process, partnership, and people. The research approach was qualitative, and conducted over a period of twelve months. The paper ends with an agenda for future research

Structural Changes in Grocery Retailing: The Implications for Competition

The structure of the UK food manufacturing industry is highly fragmented and consists of some 5,000 firms. Of these, however, the ten largest companies are estimated to account for one-third of all sales. The importance of the 100 largest private sector firms has traditionally been relatively high within the industry and in 1975, for example, they produced 55 per cent of the food sector's net output, compared with the 40 per cent provided by a similar sample in the total manufacturing sector. Similarly, evidence from both Ashby and Mordue demonstrates that during the 1970s the average size of food manufacturers/processors overtook that of manufacturers as a whole in terms of numbers employed. By the same measure, businesses with more than one hundred employees continued to expand at a faster rate in food than the average for all manufacturers, so that the mean employment size of these larger food enterprises in the late 1970s was more than one-third greater than in all manufacturing. Smaller establishments, by contrast, are relatively under-represented in the UK food, drink and tobacco sector, both in comparison with the average for all manufacturers and internationally