Ethics of the MMR controversy

Ethics of the MMR controversy Introduction: In February 1998 Dr. Andrew Wakefield from Londons Royal Free Hospital suggested a link between the combined MMR vaccination and autism (Guardian, 2008). This link was widely reported by the media, causing parents to doubt the safety of vaccinating their children. As a result there was a huge campaign by the Health Protection Agency to reassure parents that the vaccine was indeed safe, but public opinion is still divided and this lack of vaccination has created a window for infection (General Medical Community, 2009) and a steep rise in reported cases of Measles. This essay will review the ethical implications of Dr. Wakefields work and those involved in the unfolding MMR Controversy. Should the paper have been published? Did the people and organisations involved act ethically? The Media: Despite the minor nature of Dr. Wakefields paper Ileal-lymphoid-nodular hyperplasia, non-specific colitis, and pervasive developmental disorder in children the press ran with its findings, using headlines such as Fresh safety fears raised over MMR jab, New MMR link found to autism, MMR fears gain support, MMR risk of brain disorders?- from the Daily Mail gaining support from previous ministry aides, columnists and writers (Smith 2004). Even in 2001 the Blairs (the then Prime Minister and his wife Cherie) were asked if Leo, their youngest son, had been given the MMR vaccine, and refused to answer (Goldacre, 2008); lending further credence to the idea that the vaccine was unsafe. It has been stated by the BBC (BBC, 2003) that the public believed that the debate over the MMR vaccination was split equally, with G Ps and medical practitioners taking both sides and only 23% aware that the evidence was clearly in support of the combined MMR vaccine. The study was undertaken by Cardiff University between January and September 2002 and surveyed over 1,000 people. With close scrutiny paid to over 2,000 media (papers, radio and TV) reports. The survey concluded that 48% of people feel that journalists, should not (until findings are backed by further investigations and studies) report alarming research however this is still a minority view. Professor Lewis of Cardiff Universitys School of Journalism, Media and Cultural Studies released the following statement: The research also has implications for the debate about fairness in journalism, suggesting that legal definitions of impartiality in broadcast journalism should not be interpreted in a simplistic fashion, BBC, 2003. Further research, such as that by Chen and DeStefano (1998), quite clearly states that misinterpretation of Dr. Wakefields research could have been avoided by clarifying the difference between causality and association but the lack of such definition to the media and public can partially be blamed for the ensuing state of affairs. However the MMR scandal does not end with Dr. Wakefields paper; further articles such as MMR jab new autism link' published by the Sun (Thornton, 2003) or New fear over MMR link with rising Autism by the Telegraph (Adams, 2007) are still fuelling the debate and causing public concern years after the initial study was published in the Lancet Journal. Doubt is occurring despite a massive coordinated effort by the biomedical community to debunk such research showing the grip that this story has had on the population for over 10 years. Some articles have been published in the media criticising the way in which the MMR controversy has been handled although these are far and few between, such and article would be the ONeills The medias MMR shame from the Guardian, 2006. The Researchers: Dr. Andrew Wakefield may have been the public face of the MMR scare but he was not alone in completing the study that started it all, the full list of names sites 13 co-writers, their names and roles are listed in the original journal article: A J Wakefield was the senior scientific investigator. S H Murch and M A Thomson did the colonoscopies. A Anthony, AP Dhillon, and S E Davies carried out the histopathology. J Linnell did the B12 studies. D M Casson and M Malik did the clinical assessment. M Berelowitz did the psychiatric assessment. P Harvey did the neurological assessment. A Valentine did the radiological assessment. J Walker-Smith* was the senior clinical investigator. (Wakefield et al. 1998) Edited to include full Surname original citation refers to J W-S It has to be asked if key personnel involved with controversial aspects of the study acted ethically and trying to answer this question can only be answered by investigating senior team members and their respective roles separately. Dr. Andrew J Wakefield: In March 2004, Dr. E Harris (opposition politician), first raised the issue of unethical behaviour (on Dr. Wakefields part) during the study. As head of the study (Senior Scientific Investigator (Wakefield et al., 1998)) Dr. Wakefield would have had to have sought permission from the Royal Free Hospitals ethics board before commencing his studies. It was alleged by Harris that, after approval was granted, Wakefield changed the methodology to include lumbar punctures involving sedation (unknown, 2004). This public outing of Dr. Wakefields proposed misconduct and subsequent complaints by Harris resulted in an enquiry by the General Medical Council, unearthing more damaging claims (General Medical Council, 2010). It was found that children were subject to unnecessary colonoscopies, lumbar punches and barium meals (without approval), that Wakefield was not allowed to treat children and children were enrolled that did not fit the strict conditional prerequisites of the study (Boseley, 2010). But Dr. Wakefields short comings were not simply confined to the methodology of the study; he was also found have conflicting interests something that was not declared in the paper submitted to the Lancet journal. In 1997 Wakefield had filed a patent (on behalf of Royal Free Hospital) for a vaccine against measles and for treating IBD (Inflammatory Bowel Disease), he had (in February 1998) applied for ethical approval to trial a new measles vaccine under a new company called Immunospecifics Biotechnologies Ltdand been found to have paid children  £5, at his sons birthday party, to take unethical blood samples (Boseley, 2010). Further research regarding Wakefields conflicting interests, in particular his involvement with Immunospecifics Biotechnologies Ltdunearths some controversial evidence, the proposed CEO of the aforementioned company was the father of child 10 (a child involved in the study), with Wakefield and this gentlemen to share equity of the company. It was found that Wakefield and Walker-Smith applied for permission and started trials of an alternative therapy Transfer Factor, that was to be produced by Immunospecifics Biotechnologies Ltd on child 10, also deemed; abuse of [Wakefields] position of trust as a medical practitioner text and quotation; (DeeTee, 2010). The basis for Wakefields Transfer Factor treatment can be found in the work of Dr. Herman H Fundenberg (author of Dialysable lymphocyte extract (DlyE) in infantile onset autism: A pilot study., published in discontinued fringe journal Biotherapy(Fundenberg, 1996)) a discredited and indefinitely suspended American doctor, who has admitted to treating patience at home with his own bone marrow. Fundenberg not only provide the basis research for Transfer Factor, he is cited as co-inventor on the filed patents (Deer, 2004). Dr. Wakefields involvement in the MMR Controversy did not go unnoticed and in 2001 the Telegraph ran Anti-MMR doctor is forced out, reporting that he was asked to leave his post at the London Free Hospital; he cited unpopular research results as reasoning. Since then Dr. Wakefield has worked for the International Child Development Resource Center in connection with a Christian ministry called the Good News Doctor Foundation. He maintains that his results are accurate (BBC, 2010). As a consequence of the General Medical Councils findings Dr Wakefield has been found guilty of misconduct and could be struck off as a result (Rose, 2010). References: Guardian. (2008). Timeline: MMR controversy. Available: http://www.guardian.co.uk/society/2008/dec/02/health-medicalresearch. Last accessed 15 Feb 2010. General Medicine Community. (2009). Imposing Measles Epidemic Due to MMR Controversy. Available: http://stanford.wellsphere.com/general-medicine-article/imposing-measles-epidemic-due-to-mmr-controversy/603680. Last accessed 15 Feb 2010. Smith, J. (2004). The Real MMR Conspiracy. Available: http://www.independent.co.uk/opinion/commentators/joan-smith/the-real-mmr-conspiracy-545872.html. Last accessed 16 Feb 2010. Goldacre, B. (2008). The Medias MMR Hoax.Available: http://www.badscience.net/2008/08/the-medias-mmr-hoax/. Last accessed 16 Feb 2010. BBC. (2003). Parents misled by media over MMR. Available: http://news.bbc.co.uk/1/hi/wales/north_west/3038607.stm. Last accessed 16 Feb 2010. Chen, R DeStefano, F. (1998). Vaccine adverse events: causal or coincidental?. The Lancet. 351, 611-612. Thornton, J. (2003). MMR jab new autism link. Available: http://www.thesun.co.uk/sol/homepage/news/article78818.ece. Last accessed 17 Feb 2010 Adams, S. (2007). New fear over MMR link with rising autism. Available: http://www.telegraph.co.uk/news/uknews/1556883/New-fear-over-MMR-link-with-rising-autism.html. Last accessed 17 Feb 2010. Wakefield et al. (1998). Ileal-lymphoid-nodular hyperplasia, non-specific colitis, and pervasive developmental disorder in children. Lancet. 351 (1), 639-641. unknown. (2004). The Single Injections, and Dr. Wakefields Lack of Ethics. Available: http://www.fatherslobby.com/vaccinations/single_injections.html. Last accessed 17 Feb 2010. Boseley, S. (2010). Andrew Wakefield found irresponsible by GMC over vaccine scare. Available: http://www.guardian.co.uk/society/2010/jan/28/andrew-wakefield-mmr-vaccine. Last accessed 17 Feb 2010. DeeTee. (2010). The GMC on Wakefield. Available: http://layscience.net/node/924. Last accessed 17 Feb 2010 Fudenberg HH.(1996). Dialysable lymphocyte extract (DLyE) in infantile onset autism: a pilot study. Biotherapy 1996; 9: 13-17. Deer, B. (2004). Royal Frees autism pill partner, Herman Hugh Fudenberg, wasnt fit to prescribe. Available: http://briandeer.com/wakefield/hugh-fudenberg.htm. Last accessed 17 Feb 2010. General Medical Council. (2010). Fitness to practice panel hearing: 28 January 2010. Available: http://www.gmc-uk.org/static/documents/content/Wakefield__Smith_Murch.pdf Last Accessed 17 Feb 2010. Rose, D. (2010). Fall of Andrew Wakefield, dishonest doctor who started MMR scare. Available: http://www.timesonline.co.uk/tol/life_and_style/health/article7006525.ece. Last accessed 17 Feb 2010. Fraser, L. (2001). Anti-MMR doctor is forced out. Available: http://www.telegraph.co.uk/news/uknews/1364080/Anti-MMR-doctor-is-forced-out.html. Last accessed 17 Feb 2010. BBC. (2010). Profile: Dr Andrew Wakefield. Available: http://news.bbc.co.uk/1/hi/3513365.stm. Last accessed 18 Feb 2010. ONeill, B. (2006). The medias MMR shame. Available: http://www.guardian.co.uk/commentisfree/2006/jun/16/whenjournalismkills. Last accessed 18 Feb 2010.

Capital Budgeting Decision Process

Capital Budgeting Decision Process 1. Introduction The maximization of shareholder wealth can be achieved through dividend policy and increasing share price of the mark value. In order to derive more profits, our company shall invest potential investments which always cover a number of years. Those investments involve substantial initial outlay at the outset and the process. The management is responsible to participate in the process of planning, analyzing, evaluating, selecting and making decisions to allocate the limited resource to those investments. This is called capital budgeting decision process.Budgeting acts as an important managerial tool in practice. It is budget for the major capital investment such as purchase of land and building, plant and machine, investing new product or market. In modern competing environment, the company shall go ahead to make those investments in order to survive and profitability. A good evidence is Apple which globally introduced iPhone and acte d as a leading market position. Denzil & Antony (2007) stated that â€Å"Those decisions shall take account of the amount, timing and associated risk of expected company cash flow†.Therefore, Capital budgeting decision process is within the prospective of financial management. 2. The Aims of Financial Management Finance management generally embraces financial decision, investment decision and dividend decision. Its aims can be varied from different company, the main aims are expanding a new market, budgeting control, maximizing profit and maximizing shareholder wealth. Keown, et all stated that â€Å"The fundamental goal of a business is o create value for the company’s owners (this is, its shareholders)†.However, the management may focus on profit maximization that will benefit him because he is the agent on behalf of the shareholder resulting in devoicing ownership and management from the company. It leads to conflict with the shareholder’s interest and may detriment the shareholder’s wealth. In order to balance those conflicts, the management shall efficiently allocate limited resource and must consider its investment strategies with its financing policies at the best interest of the shareholder. The present value of future cash flows is a better measure of the wealth of shareholder value.Cash inflows are derived from financing activities such as debt and/or equity. If those funds are used for investment decision, it implies that there will be less contribution to shareholders as a mean of dividends. Efficient and effective allocations of the funds are principle responsibility of the management. This can be achieved through making an optimal capital budgeting decision process so as to create value for shareholders. 3. Academic literature on models of the investment process The company may face many potential investments in which it has to make choices to invest.It is necessary to evaluate potential investments in order to make better decisions. Every new investment is subject to risk and uncertainty. It always takes a long period of time to report future benefit. It will severely affect the cash flow of the company. The company therefore must manage the cash flow efficiently and effectively. Some techniques are introduced to decide whether to invest potential investment. John Graham & Harvey (2000) conducted a survey of 392 CFOs found that CFOs always use Net Present Value (NPV) and Internal Rate of Return (IRR), percentage respectively is 74. and 75. 7; Payback period (PB) is also popular 56. 7 percent while Profitability Index (PI) seldom use only 11. 9 percent . Alkaraan & Northcott (2006) also obtained a similar result from survey that UK manufacturing companies applied appraisal techniques. Accounting rate of return (ARR) and PB are commonly used techniques. It is important to be aware of their merits and drawbacks. ARR is an accounting ratio which is also known as Return on investment. It is ac cepted for potential investment (usually less than one year assessment) if ARR is more than or equal to hurdle rate.It is easy to understand and calculate, but it ignores cash. PB measures the number of years required so that the estimated returns can cover the initial outlay. It is also easy and simple to use, but it takes no account of cash flow after payback period. Both methods take no consideration of time value of money. To overcome those problems resulted from ARR and PB so as to make optimal decisions, the project appraisal process needs to consider the time value of money. Expected future cash flow of potential investments shall be discounted and added together to derive a lump sum of the present value sing a given discount rate. Three types of discounted cash flow are NPV, IRR and PI. NPV is the difference between sum of present value and initial outlay for the proposed investment. A positive NPV indicates that the proposed investment is accepted and vice versa. NPV takes account of the time value of money and all relevant cash flows over the life of the project. However, it is difficult to understand and rely on to provide an available appropriate discount rate. IRR is the discount rate at which NPV is zero. If IRR is greater than the cost of capital, then the potential investment is recommendable.IRR is easy to understand and it excludes the drawbacks of ARR and PB that both ignore the time value of money. However, IRR often gives an unrealistic rate of return unless the calculated IRR is a reasonable rate for reinvestment of future cash flows. PI is the sum of the NPV and the original investment divided by the initial outlay. PI is useful under capital rationing since it demonstrates that the best return can be achieved from the available funds. NPV and IRR are commonly used to measure potential investment today.Michael (2004) suggested that â€Å"Theory would suggest that the DCF methods are superior to the traditional techniques and that NPV is superior to IRR†. Therefore, potential investments can be best chosen to add value to the company. 4. A best practice design for the decision process Dayanada, Don. (2002) showed that â€Å"capital budgeting is a multi-faceted activity†. A best design for the decision process shall include seven stages. Arnold, G. (2008) specified that â€Å"There is a great deal more to successful investment programme than simply project appraisal†.Firstly, the company must has clear objectives and identify profitable investments project to sustain long term development of the company. Baker, H. Kent, et al. (2011) also suggested that the first stage is identification. The company has a motivation to achieve those objectives. The management translates them to specific directions and policies by using strategic planning after the company establishes objectives. Secondly, the company can develop and classify potential investments according to strategic planning. Thirdly, there ar e many potential investments in any company.It needs to be screened at this stage because potential investments are without being examined in depth in the previous stages. It can eliminate unsound and less profitable investments before the next step to evaluate the potential investments. Fourthly, it is the project appraisal stage that evaluates whether those potential investments contribute additional value to the company or not. Fifthly, it requires to present various reports and sets up a level of authorization for proposed projects. Sixthly, it conducts on the implementing stage to control capital expenditure, when to implement and who to be responsible.Finally, it is the monitoring and evaluating stage that is called the post-completion audit. It compares between the actual cash flows and other forecasted cost and benefit to improve the proposed investment or inducement for further investment. 5. Key stage of the decision process The key stage is project appraisal at the fourth stage from the above decision process. Dayanada, Don. (2002) pointed out that â€Å"project analysis is critically important for the firm†. Potential investments will be considered the initial outlay and expected future cash flow associated with risk and uncertainty.At this stage, it involves the application of many techniques, such as forecast, risk analysis, time value of money, discount rate and inflation, etc. Facing many problems of potential investments, the management should be familiar with those techniques. What is the relevant cash flow for the potential investment? Karanovic, et al (2010) pointed out that â€Å"In capital budgeting process one of most important things is discount rate determination†. It will affect the decision-making using different discount rate. Shall the company choose the highest NPV or the highest IRR when the mutually exclusive potential investments?James & John (2008) stated that â€Å"different investment projects often have diffe rent degrees of risk†. If the proposed investment is more risky, the higher return is required. However, is higher return reasonable? If undertaking it, what will happen? Clive Emmanuel, et al (2010) stated that â€Å"Once taken, capital investments are largely irreversible and significant financial sums are at risk†. Hence, it may require using different appraisal techniques for the same investment, for example, using PB and/or PI technique to assist the analysis of NPV.When making decision to select potential investment, the management shall consider how to allocate the available funds to those investments efficiently at the same time. Therefore, the fund is a key issue to determine how many potential investments are undertaken. The management must concern about the liquidity of the company immediately after accepting potential investments. Improper acceptance or rejection of any proposed investment may significantly affect the long-term success of the company. 6. Con clusionThe capital budgeting decision process is one of the investment decisions which form the fundamental part of financial management. Inappropriate investment decisions can endanger the survival of the company and cause difficulties in obtaining additional financing from stakeholders. To make optimal capital budgeting decision process, investment proposals shall be analyzed under risk, uncertainty and inflation. After making decisions, the company shall separately consider how the funds generate in the best way. A sound capital budgeting decision process is beneficial to achieve the aims of financial management.The efficiency of financial management is a good-measurement to achieve the objective of the company. 7. Recommendations Since our company has a clear objective to maximize the shareholder wealth, it can be achieved through making potential investments to invest. Identifying potential investments is crucial to the prospect of the company. It requires expertise and managem ent to execute the capital budgeting decision process. An independent capital budgeting committee shall be assigned to monitor the capital budgeting decision process.Since capital budgeting decision process is more dynamic, after implementing it, Cotter, et al (2003) suggested that â€Å"real options should be included in a capital budgeting analysis†. A good capital development system and management information system will be well on the way to achieve the objective of financial management successfully. Reference List Alkaraan, F. , & Northcott, D. (2006). Strategic capital investment decision-making: A role for emergent analysis tools? : A study of practice in large UK manufacturing companies. The British Accounting Review, 38(2), 149-173.Available through: ABI/INFORM Complete database [Accessed 31 March 2012]. Arnold, G. (2008). Corporate Financial Management. 4th edition. FT/Prentice Hall. Baker, H. Kent, et al. (2011). Capital budgeting valuation : financial analysis for today's investment projects. Hoboken, N. J. : John Wiley & Sons. Clive Emmanuel, Elaine Harris, Samuel Komakech. (2010). Towards a better understanding of capital investment decisions. Journal of Accounting & Organizational Change, Vol. 6 Iss: 4 pp. 477 – 504. Available through: EMERALD database [Accessed 31 March 2012]. Cotter, J. F. , Marcum, B. & Martin, D. R. (2003). A cure for outdated capital budgeting techniques. The Journal of Corporate Accounting & Finance, 14(3), 71-80. Available through: ABI/INFORM Complete database [Accessed 25 March 2012]. Denzil Watson and Antony Head. (2007). Corporate Finance Principles & Practice. 4th edition. FT/Prentice Hall. Don Dayanada, et al. (2002), Capital budgeting : financial appraisal of investment projects. Cambridge University Press. Graham, John Robert, & Harvey, C. R. (2000). The theory and practice of corporate finance: Evidence from the field. Rochester, Rochester: doi:10. 139/ssrn. 220251. Available through: ABI/INFORM Comp lete database [Accessed 20 March 2012] James C. Van Horne & John M. Wachowicz, Jr. (2008). Fundamentals of Financial Management. 13th edition. FT/Prentice Hall. Karanovic, G. , Baresa, S. , & Bogdan, S. (2010). Techniques for managing projects risk in capital budgeting process. UTMS Journal of Economics, 1(2), 55-66. Available through: ABI/INFORM Complete database [Accessed 22 March 2012] Keown, John D. , Martin, J. , William Petty. (2011). Foundations of Finance : the logic and practice of financial management. 7th edition. Prentice Hall.

Essay Role of Prisons in Reducing Recidivism - 556 Words

Role of Prisons in Reducing Recidivism The role of prisons and prison wardens in reducing recidivism is a major concern today. With programs initialized in the prison systems, recidivism rates still have stayed about the same for forty years. Almost two-thirds of prisoners will be arrested after their release, and of those, half will return to prison for a new crime. The obstacle faced by professionals to change behavior is a multi-layered complex problem that needs to be addressed in our society today. Different views and opinions are given, and they do not lesson the impact of each other, but a multi-dimensional program should be utilized to achieve the goal of recidivism. Professor Alex Holsinger of the University of Missouri†¦show more content†¦These ways of obtaining statistics are easy to obtain because new arrests statistics for any crime are available. Professor Holsinger also states that a person serving a long time for a crime, (12-15 years), should not be included in a study as a success because they are still in prison. He disagrees with Jack Cowely, a retired prison warden, that the warden is personally responsible. Holsingers believes that the warden is responsible for administrative procedures only and that prison wardens should utilize social service agencies to implement programs. Changing criminal behavior in a person who has had behavior reinforced for many, many years is a difficult problem when the prisoner is only in the penal system for a few years proves to be the greatest obstacle. What Holsinger believes would reduce recidivism would be to implement more resources into cognitive behavior curriculum that specifically addresses anti-social thinking, anti-social thoughts and attitudes, and drug and alcohol use and abuse. Professor Holsinger views about recidivism seem quite impressive but increasing resources for prison systems seem non-existent at the present time because of all of the other social aid our government is obligated to. Also, Professor Holsinger did not state anything about the cost effectiveness of all these programs and what the outcome would be if they were utilized. He did not mention the time it would take reduce recidivism for offenders. 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Asian Rim Region Report Geography And Demography

Pacific Rim Region Report Geography and Demography Pacific Rim is a geographical vocabulary, refers to the lands around the rim of the Pacific Ocean. The Pacific Basin includes the Pacific Rim and the islands in the Pacific Ocean.(Wojtan, Linda S.) The Pacific Rim roughly overlaps with the geologic Pacific Ring of Fire. This region report is focusing on the East Asia, and Southeast Asia, or Asian Pacific. East Asia can be defined either in geographical and cultural. Geographically, it covers about 12,000,000 km2, or about 28% of the Asian continent, about 15% bigger than the area of Europe. East Asia is one of the world s most populated places, with more than 1.5 billion people, about 38% of the population of Asia and 22% or over one†¦show more content†¦There are a lot of common behaviors among these regions. Almost all these Asian Pacific countries are agriculture countries and eat rice as staple food. Asian Pacific countries have high power distance, high hierarchy, and high-context culture. Communitarianism and masculinity are very common in this big area. Economy Asia-Pacific Economic Cooperation (APEC) is a forum for 21 Pacific Rim economies. APEC members are described as ‘economies’ because the APEC cooperative process is predominantly concerned with trade and economic issues, with members engaging with one another as economic entities. APEC promotes free trade throughout the Asia-Pacific region. It was established in 1989 in response to the growing interdependence of Asia-Pacific economies and the advent of regional trade blocs in other parts of the world; to fears that highly industrialised Japan (a member of G8) would come to dominate economic activity in the Asia-Pacific region; and to establish new markets for agricultural products and raw materials beyond Europe.(Andrew Elek) Another term we must be talked about when we mention Asian Pacific economy is the â€Å"Four Asian Dragons†. Their economic success stories have served as role models for many developing countries like China and India. The â€Å"Four Asian Dragons† are Singapore, Hong Kong, Taiwan, and South Korea, a term used to referring to the highly developed and highly free-market economies. These nationsShow MoreRelatedOne Significant Change That Has Occurred in the World Between 1900 and 2005. Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 Pagescentury. Broadly conceived and remarkably comprehensive, Bonnie Smith’s essay provides an overview of the gendering of political and social transformations over the course of the twentieth century. Attentive to differences across cultures and regions and under varying political regimes, Smith chronicles the struggles of women to improve their situation within the domestic sphere and the conditions under which they labored to expand the career opportunities available to them at different timesRead MoreStrategic Marketing Management337596 Words   |  1351 Pagescontrol concepts 17.5 Responsibility accounting 17.6 Approaches to control 17.7 Some behavioural factors 17.8 Summary 18 Management control – 2 18.1 Learning objectives 18.2 Introduction 18.3 Controls 18.4 Taking corrective action 18.5 Management reports 18.6 Summary Bibliography Index Preface In writing the first edition of this book in the early 1990s, we were motivated by a concern to help improve the effectiveness of marketing practice. Twelve years and two editions later, our purpose