Attractiveness of venture idea amongst expert entrepreneurs : a conjoint analysis

Principal Topic Venture ideas are at the heart of entrepreneurship (Davidsson, 2004). However, we are yet to learn what factors drive entrepreneurs’ perceptions of the attractiveness of venture ideas, and what the relative importance of these factors are for their decision to pursue an idea. The expected financial gain is one factor that will obviously influence the perceived attractiveness of a venture idea (Shepherd & DeTienne, 2005). In addition, the degree of novelty of venture ideas along one or more dimensions such as new products/services, new method of production, enter into new markets/customer and new method of promotion may affect their attractiveness (Schumpeter, 1934). Further, according to the notion of an individual-opportunity nexus venture ideas are closely associated with certain individual characteristics (relatedness). Shane (2000) empirically identified that individual’s prior knowledge is closely associated with the recognition of venture ideas. Sarasvathy’s (2001; 2008) Effectuation theory proposes a high degree of relatedness between venture ideas and the resource position of the individual. This study examines how entrepreneurs weigh considerations of different forms of novelty and relatedness as well as potential financial gain in assessing the attractiveness of venture ideas. Method I use conjoint analysis to determine how expert entrepreneurs develop preferences for venture ideas which involved with different degrees of novelty, relatedness and potential gain. The conjoint analysis estimates respondents’ preferences in terms of utilities (or part-worth) for each level of novelty, relatedness and potential gain of venture ideas. A sample of 32 expert entrepreneurs who were awarded young entrepreneurship awards were selected for the study. Each respondent was interviewed providing with 32 scenarios which explicate different combinations of possible profiles open them into consideration. Results and Implications Results indicate that while the respondents do not prefer mere imitation they receive higher utility for low to medium degree of newness suggesting that high degrees of newness are fraught with greater risk and/or greater resource needs. Respondents pay considerable weight on alignment with the knowledge and skills they already posses in choosing particular venture idea. The initial resource position of entrepreneurs is not equally important. Even though expected potential financial gain gives substantial utility, result indicate that it is not a dominant factor for the attractiveness of venture idea.

A closer look at business planning : early stage outcome effects of how it is prepared and used

The widespread use of business planning in combination with the mixed theoretical and empirical support for its effect suggest research is needed that takes a deeper into the quality of plans and how they are used. In this study we longitudinally examine use vs. non-use; degree of formalizations; revision of plans, and moderation of planning effects by product novelty,among nascent firms. We relate these to attainment of profitability after 12 months. We find that business planning is negatively related to profitability, but that revising plans is positively related to profitability. Both these effects are stronger under conditions of high product novelty.

The feasibility of vibration analysis as a technique to detect osseointegration of transfemoral implants

One of the main causes of above knee or transfemoral amputation (TFA) in the developed world is trauma to the limb. The number of people undergoing TFA due to limb trauma, particularly due to war injuries, has been increasing. Typically the trauma amputee population, including war-related amputees, are otherwise healthy, active and desire to return to employment and their usual lifestyle. Consequently there is a growing need to restore long-term mobility and limb function to this population. Traditionally transfemoral amputees are provided with an artificial or prosthetic leg that consists of a fabricated socket, knee joint mechanism and a prosthetic foot. Amputees have reported several problems related to the socket of their prosthetic limb. These include pain in the residual limb, poor socket fit, discomfort and poor mobility. Removing the socket from the prosthetic limb could eliminate or reduce these problems. A solution to this is the direct attachment of the prosthesis to the residual bone (femur) inside the residual limb. This technique has been used on a small population of transfemoral amputees since 1990. A threaded titanium implant is screwed in to the shaft of the femur and a second component connects between the implant and the prosthesis. A period of time is required to allow the implant to become fully attached to the bone, called osseointegration (OI), and be able to withstand applied load; then the prosthesis can be attached. The advantages of transfemoral osseointegration (TFOI) over conventional prosthetic sockets include better hip mobility, sitting comfort and prosthetic retention and fewer skin problems on the residual limb. However, due to the length of time required for OI to progress and to complete the rehabilitation exercises, it can take up to twelve months after implant insertion for an amputee to be able to load bear and to walk unaided. The long rehabilitation time is a significant disadvantage of TFOI and may be impeding the wider adoption of the technique. There is a need for a non-invasive method of assessing the degree of osseointegration between the bone and the implant. If such a method was capable of determining the progression of TFOI and assessing when the implant was able to withstand physiological load it could reduce the overall rehabilitation time. Vibration analysis has been suggested as a potential technique: it is a non destructive method of assessing the dynamic properties of a structure. Changes in the physical properties of a structure can be identified from changes in its dynamic properties. Consequently vibration analysis, both experimental and computational, has been used to assess bone fracture healing, prosthetic hip loosening and dental implant OI with varying degrees of success. More recently experimental vibration analysis has been used in TFOI. However further work is needed to assess the potential of the technique and fully characterise the femur-implant system. The overall aim of this study was to develop physical and computational models of the TFOI femur-implant system and use these models to investigate the feasibility of vibration analysis to detect the process of OI. Femur-implant physical models were developed and manufactured using synthetic materials to represent four key stages of OI development (identified from a physiological model), simulated using different interface conditions between the implant and femur. Experimental vibration analysis (modal analysis) was then conducted using the physical models. The femur-implant models, representing stage one to stage four of OI development, were excited and the modal parameters obtained over the range 0-5kHz. The results indicated the technique had limited capability in distinguishing between different interface conditions. The fundamental bending mode did not alter with interfacial changes. However higher modes were able to track chronological changes in interface condition by the change in natural frequency, although no one modal parameter could uniquely distinguish between each interface condition. The importance of the model boundary condition (how the model is constrained) was the key finding; variations in the boundary condition altered the modal parameters obtained. Therefore the boundary conditions need to be held constant between tests in order for the detected modal parameter changes to be attributed to interface condition changes. A three dimensional Finite Element (FE) model of the femur-implant model was then developed and used to explore the sensitivity of the modal parameters to more subtle interfacial and boundary condition changes. The FE model was created using the synthetic femur geometry and an approximation of the implant geometry. The natural frequencies of the FE model were found to match the experimental frequencies within 20% and the FE and experimental mode shapes were similar. Therefore the FE model was shown to successfully capture the dynamic response of the physical system. As was found with the experimental modal analysis, the fundamental bending mode of the FE model did not alter due to changes in interface elastic modulus. Axial and torsional modes were identified by the FE model that were not detected experimentally; the torsional mode exhibited the largest frequency change due to interfacial changes (103% between the lower and upper limits of the interface modulus range). Therefore the FE model provided additional information on the dynamic response of the system and was complementary to the experimental model. The small changes in natural frequency over a large range of interface region elastic moduli indicated the method may only be able to distinguish between early and late OI progression. The boundary conditions applied to the FE model influenced the modal parameters to a far greater extent than the interface condition variations. Therefore the FE model, as well as the experimental modal analysis, indicated that the boundary conditions need to be held constant between tests in order for the detected changes in modal parameters to be attributed to interface condition changes alone. The results of this study suggest that in a clinical setting it is unlikely that the in vivo boundary conditions of the amputated femur could be adequately controlled or replicated over time and consequently it is unlikely that any longitudinal change in frequency detected by the modal analysis technique could be attributed exclusively to changes at the femur-implant interface. Therefore further development of the modal analysis technique would require significant consideration of the clinical boundary conditions and investigation of modes other than the bending modes.

Impacts and adaptation response of infrastructure and communities to heatwaves : the southern Australian experience of 2009

From 27 January to 8 February during the summer of 2009, southern Australia experienced one of the nation‘s most severe heatwaves. Governments, councils, utilities, hospitals and emergency response organisations and the community were largely underprepared for an extreme event of this magnitude. This case study targets the experience and challenges faced by decision makers and policy makers and focuses on the major metropolitan areas affected by the heatwave — Melbourne and Adelaide. The study examines the 2009 heatwave‘s characteristics; its impacts (on human health, infrastructure and human services); the degree of adaptive capacity (vulnerability and resilience) of various sectors, communities and individuals; and the reactive responses of government and emergency and associated services and their effectiveness. Barriers and challenges to adaptation and increasing resilience are also identified and further areas for research are suggested. This study does not include details of the heatwave‘s effects beyond Victoria and South Australia, or its economic impacts, or of Victoria‘s 'Black Saturday‘ bushfires.

Impact of zooming and enhancing Region of Interests for optimizing user experience on mobile sports video

In mobile videos, small viewing size and bitrate limitation often cause unpleasant viewing experiences, which is particularly important for fast-moving sports videos. For optimizing the overall user experience of viewing sports videos on mobile phones, this paper explores the benefits of emphasizing Region of Interest (ROI) by 1) zooming in and 2) enhancing the quality. The main goal is to measure the effectiveness of these two approaches and determine which one is more effective. To obtain a more comprehensive understanding of the overall user experience, the study considers user’s interest in video content and user’s acceptance of the perceived video quality, and compares the user experience in sports videos with other content types such as talk shows. The results from a user study with 40 subjects demonstrate that zooming and ROI-enhancement are both effective in improving the overall user experience with talk show and mid-shot soccer videos. However, for the full-shot scenes in soccer videos, only zooming is effective while ROI-enhancement has a negative effect. Moreover, user’s interest in video content directly affects not only the user experience and the acceptance of video quality, but also the effect of content type on the user experience. Finally, the overall user experience is closely related to the degree of the acceptance of video quality and the degree of the interest in video content. This study is valuable in exploiting effective approaches to improve user experience, especially in mobile sports video streaming contexts, whereby the available bandwidth is usually low or limited. It also provides further understanding of the influencing factors of user experience.

Keeping in constant touch : the predictors of young Australians’ mobile phone involvement

Little is known about the psychological underpinnings of young people’s mobile phone behaviour. In the present research, 292 young Australians, aged 16–24 years, completed an online survey assessing the effects of self-identity, in-group norm, the need to belong, and self-esteem on their frequency of mobile phone use and mobile phone involvement, conceptualised as people’s degree of cognitive and behavioural association with their mobile phone. Structural equation modelling revealed that age (younger) and self-identity significantly predicted the frequency of mobile phone use. In contrast, age (younger), gender (female), self-identity and in-group norm predicted young people’s mobile phone involvement. Neither self-esteem nor the need to belong significantly predicted mobile phone behaviour. The present study contributes to our understanding of this phenomenon and provides an indication of the characteristics of young people who may become highly involved with their mobile phone.

Creative industries after the first decade of debate

It has now been over a decade since the concept of creative industries was first put into the public domain through the Creative Industries Mapping Documents developed by the Blair Labour government in Britain. The concept has developed traction globally, but it has also been understood and developed in different ways in Europe, Asia, Australia, New Zealand and North America, as well as through international bodies such as UNCTAD and UNESCO. A review of the policy literature reveals that while questions and issues remain around definitional coherence, there is some degree of consensus emerging about the size, scope and significance of the sectors in question in both advanced and developing economies. At the same time, debate about the concept remains highly animated in media, communication and cultural studies, with its critics dismissing the concept outright as a harbinger of neo-liberal ideology in the cultural sphere. This paper couches such critiques in light of recent debates surrounding the intellectual coherence of the concept of neo-liberalism, arguing that this term itself possesses problems when taken outside of the Anglo-American context in which it originated. It is argued that issues surrounding the nature of participatory media culture, the relationship between cultural production and economic innovation, and the future role of public cultural institutions can be developed from within a creative industries framework, and that writing off such arguments as a priori ideological and flawed does little to advance debates about 21st century information and media culture.

Mapping the territory of economic risk

It is widely contended that we live in a „world risk society‟, where risk plays a central and ubiquitous role in contemporary social life. A seminal contributor to this view is Ulrich Beck, who claims that our world is governed by dangers that cannot be calculated or insured against. For Beck, risk is an inherently unrestrained phenomenon, emerging from a core and pouring out from and under national borders, unaffected by state power. Beck‟s focus on risk's ubiquity and uncontrollability at an infra-global level means that there is a necessary evenness to the expanse of risk: a "universalization of hazards‟, which possess an inbuilt tendency towards globalisation. While sociological scholarship has examined the reach and impact of globalisation processes on the role and power of states, Beck‟s argument that economic risk is without territory and resistant to domestic policy has come under less appraisal. This is contestable: what are often described as global economic processes, on closer inspection, reveal degrees of territorial embeddedness. This not only suggests that "global‟ flows could sometimes be more appropriately explained as international, regional or even local processes, formed from and responsive to state strategies – but also demonstrates what can be missed if we overinflate the global. This paper briefly introduces two key principles of Beck's theory of risk society and positions them within a review of literature debating the novelty and degree of global economic integration and its impact on states pursuing domestic economic policies. In doing so, this paper highlights the value for future research to engage with questions such as "is economic risk really without territory‟ and "does risk produce convergence‟, not so much as a means of reducing Beck's thesis to a purely empirical analysis, but rather to avoid limiting our scope in understanding the complex relationship between risk and state.

‘You’re a bad driver but I just made a mistake’ : attribution differences between the ‘victims’ and ‘perpetrators’ of scenario-based aggressive driving incidents

Driver aggression is an increasing concern for motorists, with some research suggesting that drivers who behave aggressively perceive their actions as justified by the poor driving of others. Thus attributions may play an important role in understanding driver aggression. A convenience sample of 193 drivers (aged 17-36) randomly assigned to two separate roles (‘perpetrators’ and ‘victims’) responded to eight scenarios of driver aggression. Drivers also completed the Aggression Questionnaire and Driving Anger Scale. Consistent with the actor-observer bias, ‘victims’ (or recipients) in this study were significantly more likely than ‘perpetrators’ (or instigators) to endorse inadequacies in the instigator’s driving skills as the cause of driver aggression. Instigators were significantly more likely attribute the depicted behaviours to external but temporary causes (lapses in judgement or errors) rather than stable causes. This suggests that instigators recognised drivers as responsible for driving aggressively but downplayed this somewhat in comparison to ‘victims’/recipients. Recipients and instigators agreed that the behaviours were examples of aggressive driving but instigators appeared to focus on the degree of intentionality of the driver in making their assessments while recipients appeared to focus on the safety implications. Contrary to expectations, instigators gave mean ratings of the emotional impact of driving aggression on recipients that were higher in all cases than the mean ratings given by the recipients. Drivers appear to perceive aggressive behaviours as modifiable, with the implication that interventions could appeal to drivers’ sense of self-efficacy to suggest strategies for overcoming plausible and modifiable attributions (e.g. lapses in judgement; errors) underpinning behaviours perceived as aggressive.

Enhancing the transition of commencing students into university : an institution-wide approach

The importance of the first year experience (FYE) to success at university is well documented and supported with the transition into university regarded as crucial. While there is also support for the notion that a successful FYE should have a whole-of-institution focus and models have been proposed, many institutions still face challenges in achieving institution-wide FYE program implementation. This paper discusses the origins, theoretical and empirical bases and structure of an institution-wide approach to the FYE. It uses a case study of the Transitions In Project (TIP) at the Queensland University of Technology to illustrate how institution-wide FYE program implementation can be achieved and sustained. TIP had four inter-related projects focussing on at-risk students, first year curriculum, learning resources and staff development. The key aim of TIP was to identify good practice and institutionalise it in a sustainable way. The degree of success in achieving this is evaluated.

An overview of physical growth and maturation

An understanding of physical growth and maturation is relevant to many disciplines, including exercise and sport science, anthropology, human biology, medicine, psychology and education. Growth and maturation is governed by a complex interaction between genetic and environmental factors. There is increasing evidence that physical activity plays an important role in normal growth, development, health and well-being of children and youth, however, caution is required in the activity setting so that growth and maturation is not jeopardised. To appreciate the impact of physical activity and/or exercise on growth and maturation, a thorough understanding of the general principles of auxology is useful. Following an introduction to terminology, an overview of physical growth and development is provided in the context of morphological changes. Detailed information is provided regarding individual variability in growth and development along with sexual dimorphism. A small degree of sexual dimorphism exists at birth however striking differences develop during the pubertal years. Sexual dimorphism in body composition is largely regulated by endocrine factors with critical roles played by growth hormone and gonadal steroids.

An examination of factors influencing effective and continuous improvement of Indonesian contractors' quality management systems

This paper presents the results of a pilot study examining the factors that impact most on the effective implementation of, and improvement to, Quality Mangement Sytems (QMSs) amongst Indonesian construction companies. Nine critical factors were identified from an extensive literature review, and a survey was conducted of 23 respondents from three specific groups (Quality Managers, Project Managers, and Site Engineers) undertaking work in the Indonesian infrastructure construction sector. The data has been analyzed initially using simple descriptive techniques. This study reveals that different groups within the sector have different opinions of the factors regardless of the degree of importance of each factor. However, the evaluation of construction project success and the incentive schemes for high performance staff, are the two factors that were considered very important by most of the respondents in all three groups. In terms of their assessment of tools for measuring contractor’s performance, additional QMS guidelines, techniques related to QMS practice provided by the Government, and benchmarking, a clear majority in each group regarded their usefulness as ‘of some importance’.

Near infrared for non-destructive testing of articular cartilage

The concept of non-destructive testing (NDT) of materials and structures is of immense importance in engineering and medicine. Several NDT methods including electromagnetic (EM)-based e.g. X-ray and Infrared; ultrasound; and S-waves have been proposed for medical applications. This paper evaluates the viability of near infrared (NIR) spectroscopy, an EM method for rapid non-destructive evaluation of articular cartilage. Specifically, we tested the hypothesis that there is a correlation between the NIR spectrum and the physical and mechanical characteristics of articular cartilage such as thickness, stress and stiffness. Intact, visually normal cartilage-on-bone plugs from 2-3yr old bovine patellae were exposed to NIR light from a diffuse reflectance fibre-optic probe and tested mechanically to obtain their thickness, stress, and stiffness. Multivariate statistical analysis-based predictive models relating articular cartilage NIR spectra to these characterising parameters were developed. Our results show that there is a varying degree of correlation between the different parameters and the NIR spectra of the samples with R2 varying between 65 and 93%. We therefore conclude that NIR can be used to determine, nondestructively, the physical and functional characteristics of articular cartilage.

Entrepreneurial bricolage and firm performance : moderating effects of firm change and innovativeness

The behavioral theory of “entrepreneurial bricolage” attempts to understand what entrepreneurs do when faced with resource constraints. Prior research suggests that bricolage behaviors enable firms to “make do” through recombining existing resources and may assist in the development of firms that are better able to manage market uncertainties, survive and perhaps even flourish despite resource constraints. Using a new survey measure we further theorize and test the moderating effects of firm strategic change and innovativeness on bricolage and firm performance. Our findings suggest that changes in core elements of the business and degree of innovation reduce the positive effects of bricolage in young firm performance.

Control of aircraft for inspection of linear infrastructure

Inspection aircraft equipped with cameras and other sensors are routinely used for asset location, inspection, monitoring and hazard identification of oil-gas pipelines, roads, bridges and power transmission grids. This paper is concerned with automated flight of fixed-wing inspection aircraft to track approximately linear infrastructure. We propose a guidance law approach that seeks to maintain aircraft trajectories with desirable position and orientation properties relative to the infrastructure under inspection. Furthermore, this paper also proposes the use of an adaptive maneuver selection approach, in which maneuver primitives are adaptively selected to improve the aircraft’s attitude behaviour. We employ an integrated design methodology particularly suited for an automated inspection aircraft. Simulation studies using full nonlinear semi-coupled six degree-of-freedom equations of motion are used to illustrate the effectiveness of the proposed guidance and adaptive maneuver selection approaches in realistic flight conditions. Experimental flight test results are given to demonstrate the performance of the design.