James E. Fisher

Dissatisfied consumers who complain to the Better Business Bureau

Very little prior research has analyzed the behavior of dissatisfied consumers who complain to the Better Business Bureau (BBB). Therefore, interviews were conducted with dissatisfied consumers who filed complaints with the BBB against companies in three industries – auto dealers, dry cleaners, and home construction. The results reveal significant gaps between dissatisfied consumers’ resolution preferences and companies’ resolution offers. Further, the results highlight the highly negative word‐of‐mouth communication activity and repeat purchase intentions of dissatisfied consumers who complain to the BBB. Based on these data, complaint resolution recommendations are provided to improve customer service managers’ handling of dissatisfied consumers.

The role of private sector organizations in the control and policing of serious financial crime and abuse

Purpose – While the “Information Age” has provided the technological tools to “democratize” data and make it widely available to a vast audience of knowledge consumers, ironically it has also provided the materials for a tapestry of rules, regulations and processes that make it more difficult for individuals to access information relevant to both their public and private lives. The purpose of this paper is to examine the role of the private sector in the control and policing of financial crime, and provide an empirical and theoretical framework for understanding the complex tensions created by the simultaneous expansion of both data sources and technologies to collect and format data to create marketable information “products.”Design/methodology/approach – Three primary methods were used to gather the data for this research. Extensive literature reviews were conducted together with an analysis of existing data bases. Finally, a number of interviews were done with various corporate managers to ascertain th...

From measurement to action: How one club boosted business by listening to its members

Managers at Arvidas River Hills Country Club took two surveys, one in 1994 and one in 1997, to find out what is most important to club members. Following the 1994 survey, the managers took steps to improve operations. Comparing the results of the surveys, one can see that guests responded to those changes by visiting the club more often. Improvements in the clubs F&B facilities demonstrate how the surveys findings were implemented. Managers cross-trained employees, asked employees to help set customerservice standards, and encouraged workers to make suggestions for improvement. Managers also shared more information with the members, and invited members to tell the managers how things were going. To remain competitive, the club checked its own prices against those of the competition, redesigned the menu, boosted food costs (to put more on the plate), and offered special member prices for lunch. The result was an increase in both customer satisfaction and patronage between 1994 and 1997.

Assessing the impact of the USA PATRIOT Act on the financial services industry

Outlines the requirements of the PATRIOT Act of October 2001; together with subsequent legislation, it has led to a dramatic increase in surveillance activities affecting both traditional financial institutions and the newer types known as Money Service Businesses. Lists its demands, that all financial institutions: establish a more formal anti‐money laundering programme with a compliance officer, implement an employee training programme, file Suspicious Activity Reports, verify new customers’ identities etc. Indicates the cost to the financial services industry of compliance. Concludes that, given the massive quantities of information collected, even the best technology may not ensure that the tiny minority of terrorist traces actually get followed up

Ethical dimensions of spam

The explosion of spam within the worlds e-mail system has seriously impaired the usefulness of e-mail as a reliable and trustworthy medium for interpersonal communication. Spam raises important societal concerns that are potentially corrosive in their impact. This paper considers the origins of spam and describes in some detail spams application and content. In addition, this paper explores the role that spam filtering and blocking plays in the administration of e-mail services. The ultimate objective of this paper is to apply the ethical framework developed by Berenheim (1988) to better understand the impact that spam has on e-mail users and to examine the ethical issues connected with the distribution and regulation of spam.

Who were the winners and losers in the Financial Crisis of 2008: it depends

Purpose – This paper aims to address the question of who gained and who lost in the financial crisis of 2008. Design/methodology/approach – Gains and losses were identified by groups ranging from bankers to homeowners to taxpayers. Findings – Gains and losses are not neatly split by a main street/Wall street dichotomy. Major financial institutions and their chief executive officers made huge gains followed by bigger losses, a substantial portion of which were shared by taxpayers. Homeowners and taxpayers consistently lost. Workers and real estate developers experienced a mixture of gains and losses. Practical implications – Financial legislation is affected by questions of who won and who lost. The complex mixture of gains and losses must be fully grasped if winners and losers are an important consideration in the design of legislation. Originality/value – The detailed analysis and model of winners and losers provide important lessons for legislators and regulators in all countries.

The conundrum of legislating risk reduction through financial regulatory reform: The case of Dodd-Frank and FASB accounting changes

Purpose - The purpose of this paper is to examine the legislative process, in order to determine the likely effectiveness of financial reform efforts in the USA. Design/methodology/approach - Case study of the legislative process, particularly the less visible parts such as rule making, that shaped the passage and implementation of the Dodd-Frank Act and the failed Financial Accounting Standards Board (FASB) reform. Findings - It is found that the process of financial reform legislation is structured in such a way as to thwart major reform, at least in the short run. Practical implications - The passage of a particular piece of legislation may be the least important element in the process of reform. Rule making and the decisions as to how a law will be implemented, can advance or significantly defeat the quest for change. Social implications - Much of what occurs in the legislative process is invisible, or appears arcane, to the ordinary citizen but can have major impact on their lives. Originality/value - The paper provides a road map to understanding the least visible parts of financial reform efforts and suggests ways of achieving reform outcomes.

Fannie Mae and Freddie Mac: a case study in the politics of financial reform

Purpose – The desirability of financial reform to avoid another financial melt‐down is widely accepted, but the likelihood of reform is uncertain. The purpose of this paper is to present a case study of evolution and reform attempts at US mortgage giants Fannie Mae and Freddie Mac and provides an instructive model of the likely long‐term success of attempts to reform the financial system.Design/methodology/approach – A model of the legislative and regulatory change process is first developed, considering the range of influences that arise. The history of reform attempts for US government sponsored mortgage giants Fannie Mae and Freddie Mac are examined in the context of this model.Findings – The model predicts that reform will often be thwarted. US government sponsored mortgage giants Fannie Mae and Freddie Mac helped fuel the housing bubble and required a government bail‐out. Sentiment for reform was high, but what happened next was – nothing. Fannie Mae and Freddie Mac have a long history of successful ...

Evaluation of the Benefits of Voice Messaging: The Key to Positioning a New Technology

This manuscript reports the results of a study on the benefits of adopting a voice messaging communications system within the firm. The growing influence of new information based technologies in the workplace is noted. Further, it is noted that the positioning of new technology by marketers is often based on efficiency measures rather than on effectiveness. A pre-use survey regarding the perceptions of voice messaging, as a communication technology, was conducted with 100 managers of a large company. Following the survey, a six month trial of the system was conducted, and a follow-up survey was done to record managers perceptions of benefits after use.

Lifestyle Research in the Context of Household Economic Behavior

A theory-based approach to lifestyle research is developed in this study. A household production model is introduced which provides the basis for identifying three basic lifestyle traits: (1) income expansion, (2) household production, and (3) adaptive consumption. Measures of these traits are presented which show generally acceptable levels of reliability and validity.