Making the profitable transition towards sustainable business practice

The last three decades have been difficult for companies and industry. In an increasingly competitive international business climate with shifting national environmental regulations, higher standards are being demanded by the consumer and community groups, not-to-mention the escalating cost of primary resources such as water, steel and minerals. The cause of these pressures is the traditional notion held by business executives and engineers that there is an inherent trade off between eco-efficiency and improving the economic bottom line. However there is significant evidence and examples of best practice to show that there is in fact no trade-off between the environment and the economy if sustainable development through continual improvement is adopted. It is highly possible therefore for companies to make a profitable transition towards sustainable business practice, where along the transition significant business opportunities can be taken advantage of. Companies are by their very nature dynamic, influential and highly capable of adapting to change. Making an organisational transformation to a sustainable business is not outside the capacity of the typical company, who know much of what is needed already to change their activities to satisfy current market demands while achieving competitiveness. However in order to make the transition towards sustainable business practice companies require some key mechanisms such as accurate information on methodologies and opportunities, understanding of the financial and non-financial incentives, permission from stakeholders and shareholders, understanding of the emerging market opportunities, a critical mass of leaders in their sector and demonstrated case studies, and awarding appropriate risk-taking activities undertaken by engineers and CEOs. Satisfying these requirements will adopt an innovative culture within the company that strives for continual improvement and successfully transforms itself to achieve competitiveness in the 21st Century. This paper will summarise the experiences of The Natural Edge Project (TNEP) and its partners in assisting organisations to make a profitable transition towards sustainable business practice through several initiatives. The Natural Advantage of Nations publication provides the critical information required by business leaders and engineers to set the context of sustainable business practice. The Profiting in a Carbon Constrained World report, developed with Natural Capitalism Inc led by Hunter Lovins, summarises the opportunities available to companies to take advantage of the carbon trading market mechanisms such as the Chicago Climate Exchange and European Climate Exchange. The Sustainability Helix then guides the company through the transition by identifying the key tools and methodologies required by companies to reduce environmental loading while dramatically improving resource productivity and achieving competitiveness. Finally, the Engineering Sustainable Solutions Program delivers the key engineering information required by companies and university departments to deliver sustainable engineering solutions. The initiatives are of varying complexity and level of application, however all are designed to provide key staff the critical information required to make a profitable transition towards sustainable business practice. It is then their responsibility to apply and teach their knowledge to the rest of the organisation.

IT consumerization and its effects on IT business value, IT capabilities, and the IT function

IT consumerization is both a major opportunity and significant challenge for organizations. However, IS research has hardly discussed the implications for IT management so far. In this paper we address this topic by empirically identifying organizational themes for IT consumerization and conceptually exploring the direct and indirect effects on the business value of IT, IT capabilities, and the IT function. More specifically, based on two case studies, we identify eight organizational themes: consumer IT strategy, policy development and responsibilities, consideration of private life of employees, user involvement into IT-related processes, individualization, updated IT infrastructure, end user support, and data and system security. The contributions of this paper are: (1) the identification of organizational themes for IT consumerization; (2) the proposed effects on the business value of IT, IT capabilities and the IT function, and; (3) combining empirical insights into IT consumerization with managerial theories in the IS discipline.

Taking care of business: Tony Abbott and the Trans-Pacific Partnership

After the Australian election, United States President Barack Obama called newly elected Australian Prime Minister Tony Abbott to congratulate him upon his victory and encourage him to work co-operatively on the regional trade deal the Trans-Pacific Partnership.

Business Ecosystems’ Evolution — An Ecosystem Clockspeed Perspective

There is a growing need for measures assessing technological changes in systemic contexts as business ecosystems replace standalone products. In these ecosystem contexts, organizations are required to manage their innovation processes in increasingly networked and complex environments. In this paper, we introduce the technology and ecosystem clockspeed measures that can be used to assess the temporal nature of technological changes in a business ecosystem. We analyze systemic changes in the personal computer (PC) ecosystem, explicitly focusing on subindustries central to the delivery of PC gaming value to the end user. Our results show that the time-based intensity of technological competition in intertwined subindustries of a business ecosystem may follow various trajectories during the evolution of the ecosystem. Hence, the technology and ecosystem clockspeed measures are able to pinpoint alternating dynamics in technological changes among the subindustries in the business ecosystem. We subsequently discuss organizational considerations and theoretical implications of the proposed measures.

Submission to the Productivity Commission issues paper business set-Up, transfer and closure

The Commission has been asked to identify appropriate options for reducing entry and exit barriers including advice on the potential impacts of the personal/corporate insolvency regimes on business exits...

Submission to the Productivity Commission draft report business set-up, transfer and closure

The Commission has released a Draft Report on Business Set-Up, Transfer and Closure for public consultation and input. It is pleasing to note that three chapters of the Draft Report address aspects of personal and corporate insolvency. Nevertheless, we continue to make the submission to national policy inquiries and discussions that a comprehensive review should be undertaken of the regulation of insolvency and restructuring in Australia. The last comprehensive review of the insolvency system was by the Australian Law Reform Commission (the Harmer Report) and was handed down in 1988. Whilst there have been aspects of our insolvency laws that have been reviewed since that time, none has been able to provide the clear and comprehensive analysis that is able to come from a more considered review. Such a review ought to be conducted by the Australian Law Reform Commission or similar independent panel set up for the task. We also suggest that there is a lack of data available to assist with addressing questions raised by the Draft Report. There is a need to invest in finding out, in a rigorous and informed way, how the current law operates. Until there is a willingness to make a public investment in such research with less reliance upon the anecdotal (often from well-meaning but ultimately inadequately informed participants and others) the government cannot be sure that the insolvency regime we have provides the most effective regime to underpin Australia’s commercial and financial dealings, nor that any change is justified. We also make the submission that there are benefits in a serious investigation into a merged regulatory architecture of personal and corporate insolvency and a combined personal and corporate insolvency regulator.

Engaging decision makers in the business case for biophilic urbanism

The cognitive benefits of biophilia have been studied quite extensively, dating as far back as the 1980s, while studies into economic benefits are still in their infancy. Recent research has attempted to quantify a number of economic returns on biophilic elements; however knowledge in this field is still ad hoc and highly variable. Many studies acknowledge difficulties in discerning information such as certain social and aesthetic benefits. While conceptual understanding of the physiological and psychological effects of exposure to nature is widely recognised and understood, this has not yet been systematically translated into monetary terms. It is clear from the literature that further research is needed to both obtain data on the economics of biophilic urbanism, and to create the business case for biophilic urbanism. With this in mind, this paper will briefly highlight biophilic urbanism referencing previous work in the field. It will then explore a number of emergent gaps in the measurable economic understanding of these elements and suggest opportunities for engaging decision makers in the business case for biophilic urbanism. The paper concludes with recommendations for moving forward through targeted research and economic analysis.

Education critical to going beyond business as usual

As government and industry grapple with 21st century challenges, building the capacity to look at complex problems through fresh eyes is critical.

A service-oriented architecture for text analytics enabled business applications

Experiences showed that developing business applications that base on text analysis normally requires a lot of time and expertise in the field of computer linguistics. Several approaches of integrating text analysis systems with business applications have been proposed, but so far there has been no coordinated approach which would enable building scalable and flexible applications of text analysis in enterprise scenarios. In this paper, a service-oriented architecture for text processing applications in the business domain is introduced. It comprises various groups of processing components and knowledge resources. The architecture, created as a result of our experiences with building natural language processing applications in business scenarios, allows for the reuse of text analysis and other components, and facilitates the development of business applications. We verify our approach by showing how the proposed architecture can be applied to create a text analytics enabled business application that addresses a concrete business scenario. © 2010 IEEE.

Linking business goals to process models in semantic business process modeling

Broad knowledge is required when a business process is modeled by a business analyst. We argue that existing Business Process Management methodologies do not consider business goals at the appropriate level. In this paper we present an approach to integrate business goals and business process models. We design a Business Goal Ontology for modeling business goals. Furthermore, we devise a modeling pattern for linking the goals to process models and show how the ontology can be used in query answering. In this way, we integrate the intentional perspective into our business process ontology framework, enriching the process description and enabling new types of business process analysis. © 2008 IEEE.

The use of embodiments in distributed collaborative business process modelling

Remote networked collaboration with business model documentation has many communication problems. The aim of this project is to solve some of these communication problems by using digital 3D representations of human visual cues. Results from this project increased our understanding of the role and effects of visual cues in remote collaboration, specifically for validating business process models. Technology designs to support such cues across a distance have been proposed in this thesis with qualitative and quantitative methods of analysis being combined to analyse the impact of these cues on the communication, coordination and performance of a team collaborating remotely.

Global business services: Increasing specialization and integration of the world economy as drivers of economic growth

Purpose The purpose of this paper is to explore the contribution of global business services to improved productivity and economic growth of the world economy, which has gone largely unnoticed in service research. Design/methodology/approach The authors draw on macroeconomic data and industry reports, and link them to the non-ownership-concept in service research and theories of the firm. Findings Business services explain a large share of the growth of the global service economy. The fast growth of business services coincides with shifts from domestic production towards global outsourcing of services. A new wave of global business services are traded across borders and have emerged as important drivers of growth in the world’s service sector. Research limitations/implications This paper advances the understanding of non-ownership services in an increasingly global and specialized post-industrial economy. The paper makes a conceptual contribution supported by descriptive data, but without empirical testing. Originality/value The authors integrate the non-ownership concept and three related economic theories of the firm to explain the role of global business services in driving business performance and the international transformation of service economies.

The differential impact of monetary policy announcements and explanatory minutes releases on the Australian interest rate futures market

Unlike US and Continental European jurisdictions, Australian monetary policy announcements are not followed promptly by projections materials or comprehensive summaries that explain the decision process. This information is disclosed 2 weeks later when the explanatory minutes of the Reserve Bank board meeting are released. This paper is the first study to exploit the features of the Australian monetary policy environment in order to examine the differential impact of monetary policy announcements and explanatory statements on the Australian interest rate futures market. We find that both monetary policy announcements and explanatory minutes releases have a significant impact on the implied yield and volatility of Australian interest rate futures contracts. When the differential impact of these announcements is examined using the full sample, no statistically significant difference is found. However, when the sample is partitioned based on stable periods and the Global Financial Crisis, a differential impact is evident. Further, contrary to the findings of Kim and Nguyen (2008), Lu et al. (2009), and Smales (2012a), the response along the yield curve, is found to be indifferent between the short and medium terms.