'It looked marvellous in the prospectus': TAURUS, information and decision making

Article Abstract:

The TAURUS, an information technology project sponsored by the London Stock Exchange, failed to materialize for a number of reasons. Designed by the Securities' Industry Settlements' Committee, the prospectus was to have replaced the Exchange's share registration procedures with a state-of-the-art electronic transfer. The project advocated an ambitious timetable that was not realistically achievable because of the prospectus' complexity and operational implications. The project's proposal to abolish share certificates and transfer notes contributed to its demise because investors viewed paper as an important medium through which they can prove their ownership of stocks. Various technical concerns also heightened investors' anxieties and fears about TAURUS, including security issues, reliability and accuracy of stock transactions, and software development.

Electronic computers, Electronic Computer Manufacturing, Securities and Commodity Exchanges, Security and commodity exchanges, Securities Exchanges, Electronic Funds Transfer Systems, Stock-exchange, Stock exchanges, Exchanges, Information management, Online transaction processing

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Beyond quality

Article Abstract:

The trend towards total quality management and new wave manufacturing is self-defeating. Evidence shows that time-based competition and flexibility, which are the major tenets of the quality movement, actually damage companies in the long run instead of producing improvements. Therefore, revolution will not come through the intercession of total quality. The birth of the true revolution will actually come about with the help of simple, multiple-purpose machines that enable individuals to own the means of production. This development will lead to the abolition of the factory system, initiating a cycle of events that will eventually culminate in the obsolescence of commercial and industrial infrastructure. The erosion of competition will free people to pursue other activities, particularly those related to cultural endeavors.

Management, Manufacturing industry, Manufacturing industries, Total quality management

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Another fine mess: time for quality in decision-making

Article Abstract:

The quality of decision-making is a significant determinant of success in business. Organizations that continually make poor decisions cannot hope to be competitive and ensure their survival. Effective decision-making results from the use of quality information. It entails being able to distinguish between fact and assumption, which can sometimes be difficult because some assumptions have been repeated so often that people have come to believe them as facts. Information may be classified into the known, the unclear and the assumed. Decision-makers must only rely on the 'knowns,' because decisions based on unclear or assumed information can only undermine an organization's efforts to become competitive.

Methods, Decision-making, Decision making

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