The growth-profitability relationship : strategic orientations as moderator

Principal Topic: In this study we investigate how strategic orientation moderates the impact of growth on profitability for a sample of Danish high growth (Gazelle) firms. ---------- Firm growth has been an essential part of both management research and entrepreneurship research for decades (e.g. Penrose 1959, Birch 1987, Storey 1994). From a societal point of view, firm growth has been perceived as economic generator and job creator. In entrepreneurship research, growth has been an important part of the field (Davidsson, Delmar and Wiklund 2006), and many have used growth as a measure of success. In strategic management, growth has been seen as an approach to achieve competitive advantages and a way of becoming increasing profitable (e.g. Russo and Fouts 1997, Cho and Pucic 2005). However, although firm growth used to be perceived as a natural pathway to profitability recently more skepticism has emerged due to both new theoretical development and new empirical insights. Empirically, studies show inconsistent and inconclusive empirical evidence regarding the impact of growth on profitability. Our review reveals that some studies find a substantial positive relationship, some find a weak positive relationship, some find no relationship and further some find a negative relationship. Overall, two dominant yet divergent theoretical positions can be identified. The first position, mainly focusing on the environmental fit, argues that firms are likely to become more profitable if they enter a market quickly and on a larger scale due to first mover advantages and economic of scale. The second position, mainly focusing the internal fit, argues that growth may lead to a range of internal challenges and difficulties, including rapid change in structure, reward systems, decision making, communication and management style. The inconsistent empirical results together with two divergent theoretical positions call for further investigations into the circumstances by which growth generate profitability and into the circumstances by which growth do not generate profitability. In this project, we investigate how strategic orientations influence the impact of growth on profitability by asking the following research question: How is the impact of growth on profitability moderated by strategic orientation? Based on a literature review of how growth impacts profitability in areas such as entrepreneurship, strategic management and strategic entrepreneurship we develop three hypotheses regarding the growth-profitability relationship and strategic orientation as a potential moderator. ---------- Methodology/Key Propositions: The three hypotheses are tested on data collected in 2008. All firms in Denmark, including all listed and non-listed (VAT-registered) firms who experienced a 100 % growth and had a positive sales or gross profit over a four years period (2004-2007) were surveyed. In total 2,475 fulfilled the requirements. Among those 1,107 firms returned usable questionnaires satisfactory giving us a response rate on 45 %. The financial data together with data on number of employees were obtained from D&B (previously Dun & Bradstreet). The remaining data were obtained through the survey. Hierarchical regression models with ROA (return on assets) as the dependent variable were used to test the hypotheses. In the first model control variables including region, industry, firm age, CEO age, CEO gender, CEO education and number of employees were entered. In the second model, growth measured as growth in employees was entered. Then strategic orientation (differentiation, cost leadership, focus differentiation and focus cost leadership) and then interaction effects of strategic orientation and growth were entered in the model. ---------- Results and Implications: The results show a positive impact of firm growth on profitability and further that this impact is moderated by strategic orientation. Specifically, it was found that growth has a larger impact on profitability when firms do not pursue a focus strategy including both focus differentiation and focus cost leadership. Our preliminary interpretation of the results suggests that the value of growth depends on the circumstances and more specifically 'how much is left to fight for'. It seems like those firms who target towards a narrow segment are less likely to gain value of growth. The remaining market shares to fight for to these firms are not large enough to compensate for the cost of growing. Based on our findings, it therefore seems like growth has a more positive relationship with profitability for those who approach a broad market segment. Furthermore we argue that firms pursuing af Focus strategy will have more specialized assets that decreases the possibilities of further profitable expansion. For firms, CEOs, board of directors etc., the study shows that high growth is not necessarily something worth aiming for. It is a trade-off between the cost of growing and the value of growing. For many firms, there might be better ways of generating profitability in the long run. It depends on the strategic orientation of the firm. For advisors and consultants, the conditional value of growth implies that in-depth knowledge on their clients' situation is necessary before any advice can be given. And finally, for policy makers, it means they have to be careful when initiating new policies to promote firm growth. They need to take into consideration firm strategy and industry conditions.

Research training and national innovation systems in Australia, Finland and the United States : a policy and systems study supported by 30 case studies of research students in the fields of geospatial science, wireless communication, biosciences, and materials science and engineering

Reforms to the national research and research training system by the Commonwealth Government of Australia sought to effectively connect research conducted in universities to Australia's national innovation system. Research training has a key role in ensuring an adequate supply of highly skilled people for the national innovation system. During their studies, research students produce and disseminate a massive amount of new knowledge. Prior to this study, there was no research that examined the contribution of research training to Australia's national innovation system despite the existence of policy initiatives aiming to enhance this contribution. Given Australia's below average (but improving) innovation performance compared to other OECD countries, the inclusion of Finland and the United States provided further insights into the key research question. This study examined three obvious ways that research training contributes to the national innovation systems in the three countries: the international mobility and migration of research students and graduates, knowledge production and distribution by research students, and the impact of research training as advanced human capital formation on economic growth. Findings have informed the concept of a research training culture of innovation that aims to enhance the contribution of research training to Australia's national innovation system. Key features include internationally competitive research and research training environments; research training programs that equip students with economically-relevant knowledge and the capabilities required by employers operating in knowledge-based economies; attractive research careers in different sectors; a national commitment to R&D as indicated by high levels of gross and business R&D expenditure; high private and social rates of return from research training; and the horizontal coordination of key organisations that create policy for, and/or invest in research training.

Curriculum in postcolonial contexts

This entry uses postcolonial perspectives to interrogate relations of power in the curriculum that are deeply influenced by the aftermath of European colonialism. The insights gained help to analyze continuing inequity in material, cultural, ideological and social aspects of the curriculum. This is a starting point for working out strategies of change and identifying the complexities and contestations which accompany change. The entry provides an introduction to key aspects of postcolonial theory, examines various aspects of the curriculum which are problematized by postcolonial perspectives, and explores ways in which curriculum decolonization is advocated in terms of social equity, race, cultural and gender identity, language and knowledge paradigms.

National Aboriginal and Torres Strait Islander women's health strategy

The Strategy presented in this report was developed through the Australian Women’s Health Network Talking Circle in 2009-2010. Over 400 Aboriginal and Torres Strait Islander women were involved in the consultations. The Action Areas and Recommendations presented in this Strategy were raised and discussed by the women who contributed to the Talking Circle. This Strategy is not intended to replace any other national or state/territory identified priorities or needs. Instead, this Strategy supplements other work. Aboriginal and Torres Strait Islander women experience extremely poor health outcomes. They have a right to determine for themselves what their health system will look like. This Strategy is part of that process. If Aboriginal and Torres Strait Islander women continue to have their sense of identity marginalised and eroded, they will continue to have the poorest health of any group of women in Australian society.

Masculinity, rurality and violence

The assumption that the size, anonymity and weakened social controls of urban living generates social conflict, disorganization and higher rates of crime and violence has been an article of faith in much criminological and social scientific inquiry since the nineteenth century (i.e. Tönnies 1897; Shaw and McKay 1931; Levin and Lindesmith 1937; Nisbet 1970; Baldwin and Bottoms 1976; Felson 1994). The paper challenges this article of criminological faith and questions the utility of urban centric criminological theorizing about the causes of violence in rural settings. Drawing on descriptive data that show that rural men present a relatively high risk of inflicting harm upon themselves and others, this paper explores the larger socio-criminological question as to why this might be. The question is examined in relation to the processes of community formation that shape the everyday architecture of rural life. We explore how that architecture has historically valorized violent expressions of masculinity grounded in a relationship between men's bodies and the rural landscapes they inhabit - but how the legitimacy of these violent expressions are being challenged by sweeping social, economic and political changes. One psycho-social response to these sweeping social changes to rural life, we conclude, is a resort to violence as a largely strategic practice deployed to recreate an imagined rural gender order.

Murri Courts : Indigenous Magistrate Courts : communicating for better outcomes

In setting the scene for this paper, it is useful to briefly outline the history of the Queensland legal system. Our legal system was largely inherited from Britain, so it is, therefore, based in European-Western cultural and legal traditions. Alongside this, and over many thousands of years, Australian Indigenous communities devised their own socio-cultural-legal structures. As a result, when Indigenous people are drawn into interactions with our English-based law and court system, which is very different from Aboriginal law, they face particular disadvantages. Problems may include structural and linguistic differences, the complex language of the law and court processes, cultural differences, gender issues, problems of age, communication differences, the formalities of the courtroom, communication protocols used by judges, barristers, and court administrators, and particularly, the questioning techniques used by police and lawyers.

Thermoanalytical studies of natural potassium, sodium and ammonium alunites

Dynamic and controlled rate thermal analysis (CRTA) has been used to characterise alunites of formula [M(Al)3(SO4)2(OH)6 ] where M+ is the cations K+, Na+ or NH4+. Thermal decomposition occurs in a series of steps. (a) dehydration, (b) well defined dehydroxylation and (c) desulphation. CRTA offers a better resolution and a more detailed interpretation of water formation processes via approaching equilibrium conditions of decomposition through the elimination of the slow transfer of heat to the sample as a controlling parameter on the process of decomposition. Constant-rate decomposition processes of water formation reveal the subtle nature of dehydration and dehydroxylation.

Romancing the Dane : reviving (and revising) Ophelia in contemporary YA fiction

Shakespeare’s Ophelia has been circulated in recent times as a figure of the adolescent woman at risk. Mary Pipher’s best-selling and influential Reviving Ophelia (1994) argued that the “story of Ophelia […] shows the destructive forces that affect young women” (20). Without undermining Pipher’s project, this paper reads two contemporary YA romance novels—Lisa Fiedler’s Dating Hamlet (2002) and Lisa Klein’s Ophelia (2006)—in order to demonstrate that not only can Ophelia be appropriated as a figure of empowerment for young women today, but that such appropriations are, seemingly ironically, most powerfully rendered within the genre of romance; a genre long-maligned by feminists as recuperative of patriarchy.--------- These two novels stage interventions both into narratives of female adolescence as a time of being ‘at risk’ or ‘under threat’, and also into narratives of canonical literary patriarchy. Rather than a suicidal Ophelia, subject to the whims of men, these authors imagine Ophelias who take charge of their own destiny; who dictate their own romance and agency; who refuse to be subject to or subjected by, those scripts of cultural authority and heteronormative romance so often perceived as antithetical to female agency. In doing so, they force us to revise our own notions of the romance genre and the functions of canonical literary tradition in contemporary YA culture.

Rethinking genre studies through distribution analysis : issues in international horror movie circuits

The existence of any film genre depends on the effective operation of distribution networks. Contingencies of distribution play an important role in determining the content of individual texts and the characteristics of film genres; they enable new genres to emerge at the same time as they impose limits on generic change. This article sets out an alternative way of doing genre studies, based on an analysis of distributive circuits rather than film texts or generic categories. Our objective is to provide a conceptual framework that can account for the multiple ways in which distribution networks leave their traces on film texts and audience expectations, with specific reference to international horror networks, and to offer some preliminary suggestions as to how distribution analysis can be integrated into existing genre studies methodologies.

Optical absorption near infrared and EPR studies of mottramite

Mottramite mineral originated from Tsumeb Corporation Mine, Tsumeb, Otavi, Namibia, is used in the present work. The mineral contains of vanadium and copper to the extent of 22.73% and 16.84% by weight respectively as V2O5 and CuO. An EPR study of sample confirms the presence of Cu(II) with g = 2.2. Optical absorption spectrum of mottramite indicates that Cu(II) is present in rhombic environment. NIR results are due to water fundamentals.

A model for engaging and evaluating innovative cross-sectoral education reform : case studies from Queensland, Australia

This paper will explore how a general education can contribute successfully to vocational outcomes using both Participatory Action Research (PAR) and Program Theory methodology. The paper will focus on the development aspects of ‘marrying’ vocational and general education including engagement processes, student, teacher, institute and employer preparation and the pathway possibilities that emerge. Successful cases presented include the: Healthy Futures program (pathways into the Health and Allied industries); Accounting Pathways program (simultaneously studying a general Accounting subject and a Certificate III vocational qualification); and Sustainable Sciences initiative (development of a vocational qualification that focuses on the emerging renewable energy industry and is linked to school science programs). The case studies have been selected because they are unique in character and application and can be used as a basis for future program development in other settings or curriculum areas.

A Review of the "Digital Turn" in the New Literacy Studies

Digital communication has transformed literacy practices and assumed great importance in the functioning of workplace, recreational, and community contexts. This article reviews a decade of empirical work of the New Literacy Studies, identifying the shift toward research of digital literacy applications. The article engages with the central theoretical, methodological, and pragmatic challenges in the tradition of New Literacy Studies, while highlighting the distinctive trends in the digital strand. It identifies common patterns across new literacy practices through cross-comparisons of ethnographic research in digital media environments. It examines ways in which this research is taking into account power and pedagogy in normative contexts of literacy learning using the new media. Recommendations are given to strengthen the links between New Literacy Studies research and literacy curriculum, assessment, and accountability in the 21st century.

Anxiety among high school students in India : comparisons across gender, school type, social strata, and perceptions of quality time with parents

The broad objective of the study was to better understand anxiety among adolescents in Kolkata city, India. Specifically, the study compared anxiety across gender, school type, socio-economic background and mothers’ employment status. The study also examined adolescents’ perceptions of quality time with their parents. A group of 460 adolescents (220 boys and 240 girls), aged 13-17 years were recruited to participate in the study via a multi-stage sampling technique. The data were collected using a self-report semi-structured questionnaire and a standardized psychological test, the State-Trait Anxiety Inventory. Results show that anxiety was prevalent in the sample with 20.1% of boys and 17.9% of girls found to be suffering from high anxiety. More boys were anxious than girls (p<0.01). Adolescents from Bengali medium schools were more anxious than adolescents from English medium schools (p<0.01). Adolescents belonging to the middle class (middle socio-economic group) suffered more anxiety than those from both high and low socio-economic groups (p<0.01). Adolescents with working mothers were found to be more anxious (p<0.01). Results also show that a substantial proportion of the adolescents perceived they did not receive quality time from fathers (32.1%) and mothers (21.3%). A large number of them also did not feel comfortable to share their personal issues with their parents (60.0% for fathers and 40.0% for mothers).

The 2010 Native American and Indigenous Studies Association Conference

The 2010 Native American Indigenous Studies Conference was held at The Westin La Paloma Resort, Tucson, Arizona, USA from 20-22 May. The conference was scholarly and interdisciplinary and intended for Indigenous and non-Indigenous scholars who work in American Indian/ Native American/ First Nations/ Aboriginal/ Indigenous Studies. The 2010 gathering attracted 768 registrations from the USA, Canada, Hawaii, Mexico, New Zealand and Australia and other countries. This paper is a personal reflection and overview of the 2010 Conference.