- Email: [email protected]
About the author article
HERMAN
R.
Is The Toward
WORTMANN
The
Mr.
Round a Gianf Liberalization?
Sfep
Kennedy
Round of Negotiations by the begun in May, 1964, involves two major issues: disparities in tariffs for industrial products and trade problems in agricultural products. Although American businessmen may fear the lowering of tariff walls, the necessary adaptations can be made by modern management; they will, in turn, benefit 25 from the international division of labor.
EEC countries,
Mr. Wortmann was visiting lecturer in the field of international business administration at Indiana University, specializing in European integration and the Common Market. His position as Principal Administrator of the EEC Commission qualifies him to write on the economic situation in Europe.
GEORGE
Kennedy Trade
H.FOOTE
The
Execufive’s
Compensation
and
His
Career
Cycle
An executive’s compensation needs reflect his career position; the ideal for one may not be suitable for another. The executive’s career cycle generally spans three main phases. Understanding these will help a company fit its corporate compensation program to the changing requirements of its executives, thereby improv35 ing morale and increasing productivity.
Foote is an Associate with McKinsey & Company, Cleveland office. He was associated with two New York firms before joining the McKinsey organization, and has a degree from the American College of Chartered Life Underwriters.
about the
AUTHOR
GEORGE
ARTICLE
A. STEINER
Mr. Steiner, Director of the Division of Research in the Graduate School of Business of UCLA, is also a professor of business administration. -He has been a consultant to many firms and to government, and has lectured on and written numerous books and articles on long-range planning for management.
LELAND
E.
DAKE
A partner with the consulting firm of CreMcCormick and Paget, the author is familiar with the dilemma of the small company that is involved in growth it is unable to handle successfully. Mr. Dake formerly held the position of Director of Sales and Planning with the Continental Can Company.
sap,
Program Budgeting: Business to Government Management
Confribufion
/
Program budgeting is a product of planning for long-term, high-cost projects. Its use by management makes projection of expenses and cost-benefit simpler and more accurate. Government, too, can use this method to improve the accuracy of projections and to justify its resource allocations. 43
1
Why
Some
Growth
Companies
Are
Faltering
Recent technological changes have brought rapid growth to small enterprises that fill the market demand for specialized products. Management may fail to keep up with their companies’ economic growth because of work demands that are unmanageable, inability to handle change, and lack of communication.
53
BUSINESS
HORIZONS
JAMES
Ideational
M. PATTERSON
The author of this feature for the Spring Issue is also editor of this publication’s “Research Clearinghouse.” He is Associate Professor of Marketing, Graduate School of Business, Indiana University, and one of three editors of Marketing: The Firm’s Viewpoint, a recent publication of readings.
HOWARD
J. SAMUELS
Very active in civic and political affairs, Mr. Samuels has a special interest in the financing of public education. He founded and i president of Kordite Company, now a division of Socony Mobil Oil Company. He is also vicepresident of the Mobil Chemical Company.
H-Y
C. SAUVAIN
Mr. Sauvain is University Professor of Finance in the Graduate School of Business at Indiana University. He is the recent recipient of the Distinguished Service Award in Investment Education given by the Investment Education Institute of the National Association of Investment Clubs.
FREDERICK
E. WEBSTER,
JR.
Mr.
Webster, Assistant Professor of Marketing in the Graduate School of Business at Columbia University, is currently engaged in a major research study of industrial marketing and procurement. He has recently published articles on marketing and purchasing, and has served as a sales consultant.
MAURICE
0.
BURKE
A clinical psychologist in private practice, the author presents the philosophy that underlies the practice of clinical methods in managerial selection. He holds a Diplomate in Clinical Psychology from the American Board of Examiners in Professional Psychology.
SPRING,
1965
Items/
Buying
as a Process
A new marketing concept-that buying is a process rather than a discrete act-has gone almost unnoticed. The traditional study of buying behavior has ignored the process by which the purchase decision was made. If the marketer knows that this decision results from a series of steps, he will be in an improved position for guiding promotional effort. 59
A Businessman’s Plea for Investment in Education
Government
The present method of financing education militates against its own success. Needs can be met if state and federal governments will be allowed to issue bonds for a war on ignorance, to be redeemed in greater economic growth and less spending for welfare, crime prevention, and other social costs.
How Institutional Af?ect the Cost
Investments of Capital
in Common
61
Stock
Developments in financial institutions have influenced the upward trend in common stock prices and have important implications for the policies of corporations financing future expansion. Interesting new instruments for public participation in collective investment funds are now being developed. 69
The Industrial Salesman of Market Information
as a Source
The industrial salesman’s knowledge of a specialized market and close contact with customers and competitors make him a good source of market information. His sales will increase as a result of company use of his information for product planning, sales forecasting, strategy, and pricing. 77
The
Clinical
Method
of Managerial
Selection
Continuing with Business Horizons’ presentation of both sides of the actuarial-clinical debate in managerial selection, Dr. Burke argues for the philosophical assumptions of the clinical method. The clinician relies on interviews and projective testing as a means 83 of evaluating potential managers.
3
R.
Is The Toward
WORTMANN
The
Mr.
Round a Gianf Liberalization?
Sfep
Kennedy
Round of Negotiations by the begun in May, 1964, involves two major issues: disparities in tariffs for industrial products and trade problems in agricultural products. Although American businessmen may fear the lowering of tariff walls, the necessary adaptations can be made by modern management; they will, in turn, benefit 25 from the international division of labor.
EEC countries,
Mr. Wortmann was visiting lecturer in the field of international business administration at Indiana University, specializing in European integration and the Common Market. His position as Principal Administrator of the EEC Commission qualifies him to write on the economic situation in Europe.
GEORGE
Kennedy Trade
H.FOOTE
The
Execufive’s
Compensation
and
His
Career
Cycle
An executive’s compensation needs reflect his career position; the ideal for one may not be suitable for another. The executive’s career cycle generally spans three main phases. Understanding these will help a company fit its corporate compensation program to the changing requirements of its executives, thereby improv35 ing morale and increasing productivity.
Foote is an Associate with McKinsey & Company, Cleveland office. He was associated with two New York firms before joining the McKinsey organization, and has a degree from the American College of Chartered Life Underwriters.
about the
AUTHOR
GEORGE
ARTICLE
A. STEINER
Mr. Steiner, Director of the Division of Research in the Graduate School of Business of UCLA, is also a professor of business administration. -He has been a consultant to many firms and to government, and has lectured on and written numerous books and articles on long-range planning for management.
LELAND
E.
DAKE
A partner with the consulting firm of CreMcCormick and Paget, the author is familiar with the dilemma of the small company that is involved in growth it is unable to handle successfully. Mr. Dake formerly held the position of Director of Sales and Planning with the Continental Can Company.
sap,
Program Budgeting: Business to Government Management
Confribufion
/
Program budgeting is a product of planning for long-term, high-cost projects. Its use by management makes projection of expenses and cost-benefit simpler and more accurate. Government, too, can use this method to improve the accuracy of projections and to justify its resource allocations. 43
1
Why
Some
Growth
Companies
Are
Faltering
Recent technological changes have brought rapid growth to small enterprises that fill the market demand for specialized products. Management may fail to keep up with their companies’ economic growth because of work demands that are unmanageable, inability to handle change, and lack of communication.
53
BUSINESS
HORIZONS
JAMES
Ideational
M. PATTERSON
The author of this feature for the Spring Issue is also editor of this publication’s “Research Clearinghouse.” He is Associate Professor of Marketing, Graduate School of Business, Indiana University, and one of three editors of Marketing: The Firm’s Viewpoint, a recent publication of readings.
HOWARD
J. SAMUELS
Very active in civic and political affairs, Mr. Samuels has a special interest in the financing of public education. He founded and i president of Kordite Company, now a division of Socony Mobil Oil Company. He is also vicepresident of the Mobil Chemical Company.
H-Y
C. SAUVAIN
Mr. Sauvain is University Professor of Finance in the Graduate School of Business at Indiana University. He is the recent recipient of the Distinguished Service Award in Investment Education given by the Investment Education Institute of the National Association of Investment Clubs.
FREDERICK
E. WEBSTER,
JR.
Mr.
Webster, Assistant Professor of Marketing in the Graduate School of Business at Columbia University, is currently engaged in a major research study of industrial marketing and procurement. He has recently published articles on marketing and purchasing, and has served as a sales consultant.
MAURICE
0.
BURKE
A clinical psychologist in private practice, the author presents the philosophy that underlies the practice of clinical methods in managerial selection. He holds a Diplomate in Clinical Psychology from the American Board of Examiners in Professional Psychology.
SPRING,
1965
Items/
Buying
as a Process
A new marketing concept-that buying is a process rather than a discrete act-has gone almost unnoticed. The traditional study of buying behavior has ignored the process by which the purchase decision was made. If the marketer knows that this decision results from a series of steps, he will be in an improved position for guiding promotional effort. 59
A Businessman’s Plea for Investment in Education
Government
The present method of financing education militates against its own success. Needs can be met if state and federal governments will be allowed to issue bonds for a war on ignorance, to be redeemed in greater economic growth and less spending for welfare, crime prevention, and other social costs.
How Institutional Af?ect the Cost
Investments of Capital
in Common
61
Stock
Developments in financial institutions have influenced the upward trend in common stock prices and have important implications for the policies of corporations financing future expansion. Interesting new instruments for public participation in collective investment funds are now being developed. 69
The Industrial Salesman of Market Information
as a Source
The industrial salesman’s knowledge of a specialized market and close contact with customers and competitors make him a good source of market information. His sales will increase as a result of company use of his information for product planning, sales forecasting, strategy, and pricing. 77
The
Clinical
Method
of Managerial
Selection
Continuing with Business Horizons’ presentation of both sides of the actuarial-clinical debate in managerial selection, Dr. Burke argues for the philosophical assumptions of the clinical method. The clinician relies on interviews and projective testing as a means 83 of evaluating potential managers.
3