Identifying Core Functions of Asset Management

It is widely acknowledged that effective asset management requires an interdisciplinary approach, in which synergies should exist between traditional disciplines such as: accounting, engineering, finance, humanities, logistics, and information systems technologies. Asset management is also an important, yet complex business practice. Business process modelling is proposed as an approach to manage the complexity of asset management through the modelling of asset management processes. A sound foundation for the systematic application and analysis of business process modelling in asset management is, however, yet to be developed. Fundamentally, a business process consists of activities (termed functions), events/states, and control flow logic. As both events/states and control flow logic are somewhat dependent on the functions themselves, it is a logical step to first identify the functions within a process. This research addresses the current gap in knowledge by developing a method to identify functions common to various industry types (termed core functions). This lays the foundation to extract such functions, so as to identify both commonalities and variation points in asset management processes. This method describes the use of a manual text mining and a taxonomy approach. An example is presented.

Business process mining success

Process mining has developed into a popular research discipline and nowadays its associated techniques are widely applied in practice. What is currently ill-understood is how the success of a process mining project can be measured and what the antecedent factors of process mining success are. We consider an improved, grounded understanding of these aspects of value to better manage the effectiveness and efficiency of process mining projects in practice. As such, we advance a model, tailored to the characteristics of process mining projects, which identifies and relates success factors and measures. We draw inspiration from the literature from related fields for the construction of a theoretical, a priori model. That model has been validated and re-specified on the basis of a multiple case study, which involved four industrial process mining projects. The unique contribution of this paper is that it presents the first set of success factors and measures on the basis of an analysis of real process mining projects. The presented model can also serve as a basis for further extension and refinement using insights from additional analyses.

The Music Industry : Music in the Cloud, 2nd edition

The music industry is going through a period of immense change brought about in part by the digital revolution. What is the role of music in the age of computers and the Internet? How has the music industry been transformed by the economic and technological upheavals of recent years, and how is it likely to change in the future? This thoroughly revised and updated new edition provides an international overview of the music industry and its future prospects in the world of global entertainment. Patrik Wikström illuminates the workings of the music industry, and captures the dynamics at work in the production of musical culture between the transnational media conglomerates, the independent music companies and the public. New to this second edition are expanded sections on the structure of the music industry, online business models and the links between social media and music. Engaging and comprehensive, The Music Industry will be a must-read for students and scholars of media and communication studies, cultural studies, popular music, sociology and economics.

Commercial successes in the music industry

Commercial success in the music industry is obviously related to one’s ability to use musical artisanship as a basis for generating profits and to accumulate substantial wealth. That may seem fairly straightforward, but commercial success is an elusive concept that is continuously negotiated within the industry to determine both what should be considered “success” as well as how it should be measured. This entry discusses commercial success in the popular music industry and strategies used to achieve it.

The enemy of music : modeling the behavior of a cultural industry in crisis

The purpose of this explorative study is to contribute to the understanding of current music industry dynamics. The situation is undeniably quite dramatic: Since the turn of the millennium, the global music industry has declined by $ US 6.2 billion in value—a fall of 16.3% in constant dollar terms. IFPI, the trade organization representing the international recording industry, identifies a number of exogenous factors as the main drivers of the downturn. This article suggests that other factors, in addition to those identified by IFPI, may have contributed to the current difficulties. A model is presented which indicates that business strategies which were designed to cope with the challenging business environment have reduced product diversity, damaged profitability, and contributed to the problem they were intended to solve.

Oscar Pistorius and the death of Reeva Steenkamp : mapping public opinions on Twitter using frame analysis and data mining

This paper uses innovative content analysis techniques to map how the death of Oscar Pistorius' girlfriend, Reeva Steenkamp, was framed on Twitter conversations. Around 1.5 million posts from a two-week timeframe are analyzed with a combination of syntactic and semantic methods. This analysis is grounded in the frame analysis perspective and is different than sentiment analysis. Instead of looking for explicit evaluations, such as “he is guilty” or “he is innocent”, we showcase through the results how opinions can be identified by complex articulations of more implicit symbolic devices such as examples and metaphors repeatedly mentioned. Different frames are adopted by users as more information about the case is revealed: from a more episodic one, highly used in the very beginning, to more systemic approaches, highlighting the association of the event with urban violence, gun control issues, and violence against women. A detailed timeline of the discussions is provided.

Reluctantly virtual : modelling copyright industry dynamics

During the evolution of the music industry, developments in the media environment have required music firms to adapt in order to survive. Changes in broadcast radio programming during the 1950s; the Compact Cassette during the 1970s; and the deregulation of media ownership during the 1990s are all examples of changes which have heavily affected the music industry. This study explores similar contemporary dynamics, examines how decision makers in the music industry perceive and make sense of the developments, and reveals how they revise their business strategies, based on their mental models of the media environment. A qualitative system dynamics model is developed in order to support the reasoning brought forward by the study. The model is empirically grounded, but is also based on previous music industry research and a theoretical platform constituted by concepts from evolutionary economics and sociology of culture. The empirical data primarily consist of 36 personal interviews with decision makers in the American, British and Swedish music industrial ecosystems. The study argues that the model which is proposed, more effectively explains contemporary music industry dynamics than music industry models presented by previous research initiatives. Supported by the model, the study is able to show how “new” media outlets make old music business models obsolete and challenge the industry’s traditional power structures. It is no longer possible to expose music at one outlet (usually broadcast radio) in the hope that it will lead to sales of the same music at another (e.g. a compact disc). The study shows that many music industry decision makers still have not embraced the new logic, and have not yet challenged their traditional mental models of the media environment. Rather, they remain focused on preserving the pivotal role held by the CD and other physical distribution technologies. Further, the study shows that while many music firms remain attached to the old models, other firms, primarily music publishers, have accepted the transformation, and have reluctantly recognised the realities of a virtualised environment.

The transformation of Sweden from a haven for online pirates to the hope of the digital music industry [Musikbranschens föregångsland]

1974 was the year when the Swedish pop group ABBA won the Eurovision Song Contest in Brighton and when Blue Swede reached number one on the Billboard Hot 100 in the US. Although Swedish pop music gained some international success even prior to 1974, this year is often considered as the beginning of an era in which Swedish pop music had great success around the world. With brands such as ABBA, Europe, Roxette, The Cardigans, Ace of Base, In Flames, Robyn, Avicii, Swedish House Mafia and music producers Stig Andersson, Ola Håkansson, Dag Volle, Max Martin, Andreas Carlsson, Jorgen Elofsson and several others have the myth of the Swedish music miracle kept alive for nearly more than four decades. Swedish music looks to continue reap success around the world, but since the millennium, Sweden's relationship with music has been more focused on relatively controversial Internet-based services for music distribution developed by Swedish entrepreneurs and engineers rather than on successful musicians and composers. This chapter focusses on the music industry in Sweden. The chapter will discuss the development of the Internet services mentioned above and their impact on the production, distribution and consumption of recorded music. Ample space will be given in particular to Spotify, the music service that quickly has fundamentally changed the music industry in Sweden. The chapter will also present how the music industry's three sectors - recorded music, music licensing and live music - interact and evolve in Sweden.

Detecting news topics from microblogs using sequential pattern mining

This thesis presents a sequential pattern based model (PMM) to detect news topics from a popular microblogging platform, Twitter. PMM captures key topics and measures their importance using pattern properties and Twitter characteristics. This study shows that PMM outperforms traditional term-based models, and can potentially be implemented as a decision support system. The research contributes to news detection and addresses the challenging issue of extracting information from short and noisy text.

Moulding them in the industry's image : journalism education's impact on students' professional views

Long-running debates over the value of university-based journalism education have suffered from a lack of empirical foundation, leading to a wide range of assertions both from those who see journalism education playing a crucial role in moulding future journalists and those who do not. Based on a survey of 320 Australian journalism students from six universities across the country, this study provides an account of the professional views these future journalists hold. Findings show that students hold broadly similar priorities in their role perceptions, albeit to different intensities from working journalists. The results point to a relationship between journalism education and the way in which students' views of journalism's watchdog role and its market orientation change over the course of their degree – to the extent that, once they are near completion of their degree, students have been moulded in the image of industry professionals.

Development route of the wind power industry in China

Wind power is one of the world's major renewable energy sources, and its utilization provides an important contribution in helping solve the energy problems of many countries. After nearly 40 years of development, China's wind power industry now not only manufactures its own massive six MW turbines but also has the largest capacity in the world with a national output of 50 million MW•h in 2010 and set to rise by eight times of that amount by 2020. This paper investigates this development route by analyzing relevant academic literature, statistics, laws and regulations, policies and research and industry reports. The main drivers of the development in the industry are identified as technologies, turbines, wind farm construction, pricing mechanism and government support systems, each of which is also divided into different stages with distinctive features. A systematic review of these aspects provides academics and practitioners with a better understanding of the history of the wind power industry in China and reasons for its rapid development with a view to enhancing progress in wind power development both in China and the world generally.

Mining specific features for acquiring user information needs

Term-based approaches can extract many features in text documents, but most include noise. Many popular text-mining strategies have been adapted to reduce noisy information from extracted features; however, text-mining techniques suffer from low frequency. The key issue is how to discover relevance features in text documents to fulfil user information needs. To address this issue, we propose a new method to extract specific features from user relevance feedback. The proposed approach includes two stages. The first stage extracts topics (or patterns) from text documents to focus on interesting topics. In the second stage, topics are deployed to lower level terms to address the low-frequency problem and find specific terms. The specific terms are determined based on their appearances in relevance feedback and their distribution in topics or high-level patterns. We test our proposed method with extensive experiments in the Reuters Corpus Volume 1 dataset and TREC topics. Results show that our proposed approach significantly outperforms the state-of-the-art models.

Antecedents of consumer brand loyalty in the Australian wine industry

The wine industry has become fiercely competitive worldwide and as a result, consumers are increasingly exposed to a wider range of wines in retail outlets. This expanding consumer choice means that there is a need for Australian wineries to develop and build consumer loyalty toward their brands. This paper aims to empirically examine the factors influencing consumer loyalty to wine brands. Using data from Australian wine consumers, the authors empirically test a model of antecedents of wine brand loyalty. The model considers wine brand trust, wine brand satisfaction, wine knowledge, and wine experience. Hypotheses were tested with structural equation modeling. The findings of this study show that wine knowledge and wine experience affect wine brand loyalty indirectly through wine brand trust and wine brand satisfaction. In addition, it is demonstrated that consumer satisfaction with a wine brand is the strongest driver of wine brand loyalty. The result of this study has value for Australian wineries, wine retailers, and wine marketers.