Capturing gazelles : features of high potential firms and new venture growth

This paper investigates the characteristics of ventures which have the potential to reach high growth and compares this with ‘everyday’ new ventures. Findings of interest in this paper include: • HP firms are characterised by higher human capital, are more likely to have a team of founders, are more likely to be product based. • HP firms are more likely to achieve more extreme levels of growth (both positive and negative). • HP ventures that make a loss are more likely to do so early in the venture process. Those that do hold on show that there can higher levels of loss made later on in firm development. HP firms have higher resource needs, in terms of seeking external finance, but are no more likely to receive external finance than regular firms.

Software as a service (SaaS) for small and medium enterprises (SMEs) : the role of intermediaries

Software as a Service (SaaS) is anticipated to provide significant benefits to small and medium enterprises (SMEs) due to ease of access to high-end applications, 7*24 availability, utility pricing, etc. However, underlying SaaS is the assumption that SMEs will directly interact with the SaaS vendor and use a self-service model. In practice, we see the rise of SaaS intermediaries who support SMEs with using SaaS. This paper reports on an empirical study of the role of intermediaries in terms of how they support SMEs in sourcing and leveraging SaaS for their business. The knowledge contributions of this paper are: (1) the identification and description of the role of SaaS intermediaries and (2) the specification of different roles of SaaS intermediaries, in particular a more basic role with technology orientation and operational alignment perspective and (3) a more added value role with customer orientation and strategic alignment perspective.

Using a smartphone application for customer-centric banking

The banking industry is under pressure. In order to compete, banks should adapt to concentrating on the specific customer needs, following an outside-in perspective. This paper presents the design of a business model for banks that considers this development by providing flexible and comprehensive support for retail banking clients. It is demonstrated that the identification of customer processes and the consequent alignment of banking services to those processes implies great potential to increase customer retention in banking. It will be shown that information technology – especially smartphones – can serve as an interface between customer and suppliers to enable an alignment of offerings to customer processes. This approach enables the integration of banks into their customers’ lifestyle, creating emotional value added, improving the personal relationship and the customers’ affiliation with the bank. The paper presents the design of such a customer-process-centric smartphone application and derives success factors for implementation.

A platform - independent product library for BIM

There is considerable interest internationally in developing product libraries to support the use of BIM. Product library initiatives are driven by national bodies, manufacturers and private companies who see their potential. A major issue with the production and distribution of product information for BIM is that separate library objects need to be produced for all of the different software systems that are going to use the library. This increases the cost of populating product libraries and also increases the difficulty in maintaining consistency between the representations for the different software over time. This paper describes a project which uses “software transformation” technology from the field of software engineering to support the definition of a single generic representation of a product which can then be automatically converted to the format required by receiving software. The paper covers the current state of implementation of the product library, the technology underlying the transformations for the currently supported software and the business model for creating a national library in Australia. This is placed within the context of other current product library systems to highlight the differences. The responsibilities of the various actors involved in supporting the product library are also discussed.

Submission: Towards a Stronger and More Efficient IP Rights System : Getting the Balance Right

1. In March 2009, the Australian Government, through IP Australia its administrator of Intellectual Property Rights (IPR) acquired by registration or grant, issued two consultation papers for comment by interested stakeholders. 2. The Consultation Papers have invited written submissions directed towards the object of the paper, namely encouraging discussion on certain proposed changes and their impact on business and innovation. 3. I understand the invitation to make written submissions is predominantly in the areas raised by the Consultation Papers and the questions posed. However, I have made a brief reference to several other areas of concern with the current Australian patent law, which in my opinion inhibit innovation and therefore come under the wider agenda of the government to work toward a stronger and more efficient IP rights system. 4. In this regard, the Consultation Papers indicate that if the IPR are less likely to be invalidated and more likely to be enforced, this confidence will reflect in a greater investment in research leading to innovation. 5. This submission relates to the Balance Paper.

Defining entertainment : an approach

Entertainment is a key cultural category. Yet the definition of entertainment can differ depending upon whom one asks. This article maps out understandings of entertainment in three key areas. Within industrial discourses, entertainment is defined by a commercial business model. Within evaluative discourses used by consumers and critics, it is understood through an aesthetic system that privileges emotional engagement, story, speed and vulgarity. Within academia, entertainment has not been a key organizing concept within the humanities, despite the fact that it is one of the central categories used by producers and consumers of culture. It has been important within psychology, where entertainment is understood in a solipsistic sense as being anything that an individual finds entertaining. Synthesizing these approaches, the authors propose a cross-sectoral definition of entertainment as ‘audience-centred commercial culture’.

Three essays on banks trading activities

With a fair share of the blame for the subprime crisis pointing to banks' extensive involvement in trading, this thesis examines three closely related issues. The first essay shows that regulatory capital arbitrage, insolvency risk, and non-interest income are all important motivations for banks to become involved in trading. The second essay support the widely held perception that trading activities such as off-balance sheet derivatives, securitization, and assets sales all are making banks more opaque. With banks' business model changing from ''originate and hold'' to ''originate, repackage, and sell'', the last essay show that trading channel exist and it has weakened the effectiveness of monetary policy transmission through banks' capital and lending channel.

Approaching wicked problems through design thinking

This paper explores possible ways in which design thinking can be used to understand the issues involved in wicked problems. Following brief reviews of both the design thinking and wicked problems literature, we offer a synthesis of these two areas. This paper distinguishes the connections of the various thinking styles inherent in design thinking methodologies and approaches to the phases of wicked problems. We create links between design thinking and cognitive mechanisms such as thinking styles, simple heuristics and schemas that can deepen understanding and effective decision making in the wicked problems in our complex environments.

Integrated reporting and assurance: Where can research add value?

This paper provides insights into salient issues in the development of the Integrated Reporting () Framework, and emerging issues in the implementation of this Framework, with the aim of identifying opportunities for future research. The International Integrated Reporting Council (IIRC) has recently produced a reporting framework for the preparation of a concise, user-oriented corporate report which expands the scope of a company’s reporting using a multiple capitals concept and requires a description of a company’s business model, allowing a better communication of its value creation proposition. To gain international acceptance, the market-based benefits of adopting the framework must be demonstrated.

A taste of best practice in engineering sustainable solutions

This paper asks the question to what scale and speed does society need to reduce its ecological footprint and improve resource productivity to prevent further overshoot and return within the ecological limits of the earth’s ecological life support systems? How fast do these changes need to be achieved? The paper shows that now a large range of studies find that engineering sustainable solutions need to be roughly an order or magnitude resource productivity improvement (sometimes called a Factor of 10, or a 90% reduction) by 2050 to achieve real and lasting ecological sustainability. This marks a significant challenge for engineers – indeed all designers and architects, where best practice in engineering sustainable solutions will need to achieve large resource productivity targets. The paper brings together examples of best practice in achieving these large targets from around the world. The paper also highlights key resources and texts for engineers who wish to learn how to do it. But engineers need to be realistic and patient. Significant barriers exist to achieving Factor 4-10 such as the fact that infrastructure and technology rollover and replacement is often slow. This slow rollover of the built environment and technology is the context within which most engineers work, making the goal of achieving Factor 10 all the more challenging. However, the paper demonstrates that by using best practice in engineering sustainable solutions and by addressing the necessary market, information and institutional failures it is possible to achieve Factor 10 over the next 50 years. This paper draws on recent publications by The Natural Edge Project (TNEP) and partners, including Hargroves, K. Smith, M. (Eds) (2005) The Natural Advantage of Nations: Business Opportunities, Innovation and Governance for the 21st Century, and the TNEP Engineering Sustainable Solutions Program - Critical Literacies for Engineers Portfolio. Both projects have the significant support of Engineers Australia. its College of Environmental Engineers and the Society of Sustainability and Environmental Engineering.

e-Extinction: an illusion of knowledge, the presence of ignorance, or evolutionary fate?

At present, the rate of small firm adoption of the Internet's ubiquitous World Wide Web (the web) far exceeds the actual exploitation its commercial potential. An inability to strategically acquire, comprehend and use external knowledge is proposed as a major barrier to optimal exploitation of the Internet. This paper discusses the limitations of applying market orientation theory to explain and guide small firm exploitation of the web. Absorptive capacity is introduced as an alternative theory that when viewed from an evolutionary perspective provides potentially more insightful discussion. An inability to detect emerging business model dominant designs is suggested to be a mixture of the nature of the technology that supports the Internet and underdeveloped small firm knowledge processing capabilities. We conclude with consideration of the practical and theoretical implications that arise from the paper.

Invisible opportunities and irreversible trends

Small firms are always vulnerable to complex technological change that may render their existing business model obsolete. This paper emphasises the need to understand how the Internet's ubiquitous World Wide Web is impacting on their operating environments. Consideration of evolutionary theory and the absorptive capacity construct provides the foundation for discussion of how learning and discovery take place within individuals, firms and the environments that interact with. Small firms, we argue, face difficulties identifying what routines and competencies are best aligned with the seemingly invisible dominant designs that support pursuit of new enterprise in web-impacted environments. We argue that such difficulties largely relate to an inability to acquire external knowledge and the subsequent reliance on existing internal selection processes that may reinforce the known, at the expense of the unknown. The paper concludes with consideration as to how managers can overcome the expected difficulties through the development of internal routines that support the continual search, evaluation and acquisition of specific external knowledge.

Dominating search: Google before the law

For many, particularly in the Anglophone world and Western Europe, it may be obvious that Google has a monopoly over online search and advertising and that this is an undesirable state of affairs, due to Google's ability to mediate information flows online. The baffling question may be why governments and regulators are doing little to nothing about this situation, given the increasingly pivotal importance of the internet and free flowing communications in our lives. However, the law concerning monopolies, namely antitrust or competition law, works in what may be seen as a less intuitive way by the general public. Monopolies themselves are not illegal. Conduct that is unlawful, i.e. abuses of that market power, is defined by a complex set of rules and revolves principally around economic harm suffered due to anticompetitive behavior. However the effect of information monopolies over search, such as Google’s, is more than just economic, yet competition law does not address this. Furthermore, Google’s collection and analysis of user data and its portfolio of related services make it difficult for others to compete. Such a situation may also explain why Google’s established search rivals, Bing and Yahoo, have not managed to provide services that are as effective or popular as Google’s own (on this issue see also the texts by Dirk Lewandowski and Astrid Mager in this reader). Users, however, are not entirely powerless. Google's business model rests, at least partially, on them – especially the data collected about them. If they stop using Google, then Google is nothing.

Understanding the civic impact of journalism

The importance of journalism to civil society is constantly proclaimed, but empirical evidence on journalism's impact, and how this operates, is surprisingly thin. Indeed, there is confusion even about what is meant by the term “impact”. Meanwhile, the issue of the role of journalism is becoming increasingly urgent as a consequence of the rapid changes engulfing the news media, brought about by technological change and the flow-on effect to the traditional advertising-supported business model. Assessing the impact of journalism has recently been the topic of debate among practitioners and scholars particularly in the United States, where philanthropists have responded to the perceived crisis in investigative journalism by funding not-for-profit newsrooms, with resulting new pressures being placed on journalists and editors to quantify their impact on society. These recent attempts have so far failed to achieve clarity or a satisfactory conclusion, which is not surprising given the complex web of causation within which journalism operates. In this paper, the authors propose a stratified definition of journalistic impact and function. They propose a methodology for studying impact drawing on realistic evaluation—a theory-based approach developed primarily to assess large social programmes occurring in open systems. The authors argue this could allow a conceptual and methodological advance on the question of media impacts, leading to research capable of usefully informing responses at a time of worrying change.

Analysis of cool roof coatings for residential demand side management in tropical Australia

Cool roof coatings have a beneficial impact on reducing the heat load of a range of building types, resulting in reduced cooling energy loads. This study seeks to understand the extent to which cool roof coatings could be used as a residential demand side management (DSM) strategy for retrofitting existing housing in a constrained network area in tropical Australia where peak electrical demand is heavily influenced by residential cooling loads. In particular this study seeks to determine whether simulation software used for building regulation purposes can provide networks with the ‘impact certainty’ required by their DSM principles. The building simulation method is supported by a field experiment. Both numerical and experimental data confirm reductions in total consumption (kWh) and energy demand (kW). The nature of the regulated simulation software, combined with the diverse nature of residential buildings and their patterns of occupancy, however, mean that simulated results cannot be extrapolated to quantify benefits to a broader distribution network. The study suggests that building data gained from regulatory simulations could be a useful guide for potential impacts of widespread application of cool roof coatings in this region. The practical realization of these positive impacts, however, would require changes to the current business model for the evaluation of DSM strategies. The study provides seven key recommendations that encourage distribution networks to think beyond their infrastructure boundaries, recognising that the broader energy system also includes buildings, appliances and people.