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Sustained research on managerial labour markets and pay determination has informed and influenced key policy-makers in determining rewards and remuneration for senior medical professionals. As an expert `economist' member of the Doctors' and Dentists' Review Body (DDRB), Professor Steve Thompson has contributed to recommendations that have been endorsed by the UK Government and are used as an evidence base for negotiations between the British Medical Association, the Department of Health and devolved administrations within the UK.
The Operator Functional State (OFS) describes the psychological capacity of an operator to deliver safe and effective performance. Expertise in OFS theory and methodology was developed at LJMU via studies of driving behaviour and aviation control. When the European Space Agency wished to prioritise issues surrounding OFS in the context of space exploration, they recruited an expert from LJMU. The resulting discussion led to the identification of key issues to maintain operational skill and reduce accident likelihood during long duration space missions. The expertise developed at LJMU has influenced the European programme for space exploration over the coming decade.
This case study describes impact resulting from research on assessing the performance of credit scoring models conducted by the Consumer Credit / Retail Banking Research Group of the Mathematics Department at Imperial College. The group's work has influenced both high-level industry strategies for developing scoring models, and also low-level performance measures for which such models are developed, refined and evaluated. We describe examples of companies or bodies that have benefitted from improved credit scoring models, including Prescient Models (a US credit scoring company), Experian and the US Office of the Comptroller of Currency. The group has established a very significant reputation for a wide range of commercially valuable work in this area — to the extent that the group received the major Credit Collections and Risk industry award for Contributions to the Credit Industry in 2012.
This case study describes the effects of a new performance management system, developed in China and adopted by organisations facing complex management challenges. To date, seven public and private sector organisations have successfully used the `3E' (Effectiveness, Efficacy, and Efficiency) system for tasks as varied as developing performance indicators, improving management communication and designing appraisal systems that work under conditions of rapid growth and change.
The participating organisations include the Chinese Academy of Sciences (CAS), Hunan University, Tonsan Adhesives Inc, Xingxiang Insurance, Sun-rivier local government, Liao-ling Plaze hotel and Hua-bao International Holdings. Their adoption of the 3E system has resulted in improved performance management within these organisations.
Research by Ferreira and colleagues at LSE shows that a gradual approach to gender-balanced boards based on matching of skills to needs is more effective than the imposition of quotas. The impact of this research has been achieved by engaging with practitioners and regulators in formal evidence-based governance debates and consultations. LSE research has informed the debate on how to best achieve gender diversity and played a central part in the UK Government's decision not to impose gender quotas but instead to endorse a self-regulation regime, a position which is gathering support in the EU as well.
The Centre for Management Buyout Research (CMBOR) pioneered a unique live platform that has informed and influenced the work of UK, European and International government agencies, industry, policy makers, practitioners and researchers. For the first time, CMBOR provided systematic research evidence on private-equity buyouts which is an area that is often misunderstood among policy makers and the wider public. The provision of extensive data on over 30,000 European private equity buy-out transactions and quarterly reports / analyses on buy-out activity has served to enhance government, industry and the wider public's understanding and inform the development of policies and practice on a strategic and operational level in the UK, Europe and US.