The Bank of England and the genesis of modern management

In 1965 Sidney Pollard published The Genesis of Modern Management, an extended discussion of the problems, during Britain’s initial period of industrialisation, of the ‘internal management’ of the firm. But, in his focus on industry, Pollard ignored one of the largest, most significant and most innovative of the enterprises of the late-eighteenth- and early-nineteenth centuries: The Bank of England. This paper focuses on the Bank as a site of precocious managerial development. It first establishes that the Bank, by the latter part of the eighteenth century, encompassed the complexities of a large-scale industrial enterprise. It employed a workforce of several hundred. Its workers operated in specialised and coordinated capacities. Its managerial hierarchy was diffuse and dependent on employed men, rather than the elected directorate. The Bank, therefore, warrants comparison with the types of enterprises identified by Pollard. Focusing on the 1780s, the paper then explores the Bank’s organisational and management structure against Pollard’s four aspects of management: ‘the creation and training of a class of managers; ‘the recruitment, training, disciplining and acculturation of labour’; the use of ‘accountancy, and other information …in the rational determination of their decisions’ and finally the question of whether there emerged a ‘theory and practice of “management”’. It will demonstrate that, although not always applied effectively, the Bank’s senior men did show managerial innovation and skill in training and organising the workforce and were able to make informed decisions which had the potential to improve some of the Bank’s processes

‘You do manage it so well that I cannot do better’: the working life of Elizabeth Jeake of Rye (1667-1736)

This is an Accepted Manuscript of an article published by Taylor & Francis in Women's History Review on 27 March 2018, available online at: https://doi.org/10.1080/09612025.2018.145556. Under embargo until 27 September 2019.This article contributes to the debate around early modern women’s work. It concerns not waged labour but rather the unpaid contributions made by women to both home and the business undertaken by their husband. It focuses on Elizabeth Jeake, the wife of Samuel Jeake, a merchant from the Sussex port of Rye. Through the letters exchanged between the family, it explores Elizabeth’s skilled work in support of her husband. This included giving instructions to contractors, gathering and disseminating business and investment information, negotiations with Samuel’s business partners and acquaintances, managing property and tenants, negotiating credit relationships and purchasing and selling commodities.Peer reviewedFinal Accepted Versio

The case for building climate reporting into financial accounting

For mitigation efforts against climate breakdown to be effective they need to bring in the private sector in a meaningful way. Current standards for financial reporting for commercial organizations focus on the interests of capital suppliers to the exclusion of other stakeholders and civil society. These stakeholders include the suppliers of capital, trading partners, employees, regulators, tax authorities, and civil society. So far initiatives to include environmental and social costs have been additive rather than substantive. In this think piece we offer a radical proposal in the form of sustainable cost accounting (SCA). As a standard SCA would build on existing accounting principles to require commercial organizations to report on how they will manage the costs of becoming net carbon zero compliant. SCA does not include carbon pricing or the cost of offsets. It would require the commercial organization to establish the costs of the transition to carbon neutrality. Regulatory requirements, enmeshment in transnational standards, and adequate auditing would implement SCA. If SCA was mandatory and comprehensively applied it would take a significant step in bringing business onside in addressing climate breakdown

Using Valuation-Based Decision Making to Increase the Efficiency of China\u27s Patent Subsidy Strategies

[Excerpt] “The Chinese government has grown concerned that its patent fee subsidy programs have not funded the most deserving patents, and thus they no longer wish to spend public resources to promote low-value patents. Instead, the government would prefer subsidy programs that encourage the most deserving patents. The Patent Strategy reflects this desire, as the fourth strategic focus of the Patent Strategy recognizes the need to “[o]ptimize [China’s] patent subsidy policy and further define the orientation to enhance patent quality.”19 This Article explains how a disciplined and transparent valuation-based decision making process can help the Chinese government design patent fee subsidy programs that allocate funds more consistently to deserving patents. In addition, this Article offers the outline of a practical valuation model the Chinese government could use to filter patent fee subsidy requests.

Identification of Demand through Statistical Distribution Modeling for Improved Demand Forecasting

Demand functions for goods are generally cyclical in nature with characteristics such as trend or stochasticity. Most existing demand forecasting techniques in literature are designed to manage and forecast this type of demand functions. However, if the demand function is lumpy in nature, then the general demand forecasting techniques may fail given the unusual characteristics of the function. Proper identification of the underlying demand function and using the most appropriate forecasting technique becomes critical. In this paper, we will attempt to explore the key characteristics of the different types of demand function and relate them to known statistical distributions. By fitting statistical distributions to actual past demand data, we are then able to identify the correct demand functions, so that the the most appropriate forecasting technique can be applied to obtain improved forecasting results. We applied the methodology to a real case study to show the reduction in forecasting errors obtained

Laser-actuated mechanical device

Actuator is portable and can be used in high-temperature (over 500 C) environments by incorporating tungsten metal film and quartz window. Actuator can be triggered when it is not directly in laser beam path by utilizing fiber optics. It is advantageous for remotely switching ultra-high voltage systems

Optically actuated two position mechanical mover

An optically actuated mechanical mover adapted to be moved from an ambient position to an active position, is disclosed. The mechanical mover essentially comprises a piston/cylinder arrangement including a piston that is contained within an internal cylindrical chamber of a housing. The cylindrical chamber is configured to permit the piston to be moved for the length of the chamber as a work stroke. A lock pin extending through the piston, and diametrically opposed walls of the chamber housing, retain the piston in the ambient position at one end of the chamber. An actuator for producing a pressure or shock wave that drives the piston is positioned at the end of the chamber corresponding to the piston ambient position

Amenability and co-amenability of algebraic quantum groups

We define concepts of amenability and co-amenability for algebraic quantum groups in the sense of A. Van Daele. We show that co-amenability of an algebraic quantum group always implies amenability of its dual. Various necessary and/or sufficient conditions for amenability or co-amenability are obtained. Co-amenability is shown to have interesting consequences for the modular theory in the case that the algebraic quantum group is of compact type.Comment: 25 pages, with some minor corrections, as to appear in the IJMM