Boards of directors' contribution to strategy : a literature review and research agenda

Research Question/Issue: Over the last four decades, research on the relationship between boards of directors and strategy has proliferated. Yet to date there is little theoretical and empirical agreement regarding the question of how boards of directors contribute to strategy. This review assesses the extant literature by highlighting emerging trends and identifying several avenues for future research. Research Findings/Results: Using a content-analysis of 150 articles published in 23 management journals up to 2007, we describe and analyze how research on boards of directors and strategy has evolved over time. We illustrate how topics, theories, settings, and sources of data interact and influence insights about board–strategy relationships during three specific periods. Theoretical Implications: Our study illustrates that research on boards of directors and strategy evolved from normative and structural approaches to behavioral and cognitive approaches. Our results encourage future studies to examine the impact of institutional and context-specific factors on the (expected) contribution of boards to strategy, and to apply alternative methods to fully capture the impact of board processes and dynamics on strategy making. Practical Implications: The increasing interest in boards of directors’ contribution to strategy echoes a movement towards more strategic involvement of boards of directors. However, best governance practices and the emphasis on board independence and control may hinder the board contribution to the strategic decision making. Our study invites investors and policy-makers to consider the requirements for an effective strategic task when they nominate board members and develop new regulations.

L'Impatto delle Condizioni Interne ed Esterne sul Ruolo del Cda : un'Analisi Empirica sulle Grandi Imprese Italiane [The impact of internal and external contingencies on board tasks performance : an empirical investigation of Italian companies]

Il Consiglio di Amministrazione (CdA) è il principale organo di governo delle aziende. La letteratura gli attribuisce tre ruoli: controllo, indirizzo strategico e collegamento con l’ambiente (networking). Precedenti studi empirici hanno analizzato se un Consiglio di Amministrazione è attivo o meno in tutti e tre i ruoli in un dato momento. Nel presente lavoro, invece, si propone un approccio «contingente» e si analizzano i ruoli svolti dal CdA al variare delle condizioni interne (aziende in crisi o di successo) ed esterne (aziende in settori competitivi o regolamentati).. L’indagine empirica è stata condotta su un campione di 301 imprese italiane di grandi dimensioni. I risultati supportano la tesi iniziale secondo cui le condizioni interne ed esterne incidono sul ruolo svolto dal CdA. In particolare i risultati evidenziano che il CdA non svolge sempre tutti e tre i ruoli nello stesso momento, ma esso si concentra sul ruolo o sui ruoli che assumono grande importanza nella situazione in cui si trova l’azienda. Con riferimento alle condizioni interne, nelle imprese in crisi il CdA è attivo in tutti e tre i ruoli, mentre in quelle di successo prevale un orientamento verso la funzione strategica. Nelle aziende che operano in settori competitivi il ruolo di controllo è più pressante mentre nei settori regolamentati prevale una funzione di networking.

Process mining manifesto

Process mining techniques are able to extract knowledge from event logs commonly available in today’s information systems. These techniques provide new means to discover, monitor, and improve processes in a variety of application domains. There are two main drivers for the growing interest in process mining. On the one hand, more and more events are being recorded, thus, providing detailed information about the history of processes. On the other hand, there is a need to improve and support business processes in competitive and rapidly changing environments. This manifesto is created by the IEEE Task Force on Process Mining and aims to promote the topic of process mining. Moreover, by defining a set of guiding principles and listing important challenges, this manifesto hopes to serve as a guide for software developers, scientists, consultants, business managers, and end-users. The goal is to increase the maturity of process mining as a new tool to improve the (re)design, control, and support of operational business processes.

Development of a gas nanosensor node powered by solar cells

This work focuses on the development of a stand-alone gas nanosensor node, powered by solar energy to track concentration of polluted gases such as NO2, N2O, and NH3. Gas sensor networks have been widely developed over recent years, but the rise of nanotechnology is allowing the creation of a new range of gas sensors [1] with higher performance, smaller size and an inexpensive manufacturing process. This work has created a gas nanosensor node prototype to evaluate future field performance of this new generation of sensors. The sensor node has four main parts: (i) solar cells; (ii) control electronics; (iii) gas sensor and sensor board interface [2-4]; and (iv) data transmission. The station is remotely monitored through wired (ethernet cable) or wireless connection (radio transmitter) [5, 6] in order to evaluate, in real time, the performance of the solar cells and sensor node under different weather conditions. The energy source of the node is a module of polycrystalline silicon solar cells with 410cm2 of active surface. The prototype is equipped with a Resistance-To-Period circuit [2-4] to measure the wide range of resistances (KΩ to GΩ) from the sensor in a simple and accurate way. The system shows high performance on (i) managing the energy from the solar panel, (ii) powering the system load and (iii) recharging the battery. The results show that the prototype is suitable to work with any kind of resistive gas nanosensor and provide useful data for future nanosensor networks.

Towards the development of a gas sensor system for monitoring pollutant gases in the low troposphere using small unmanned aerial vehicles

The world is facing problems due to the effects of increased atmospheric pollution, climate change and global warming. Innovative technologies to identify, quantify and assess fluxes exchange of the pollutant gases between the Earth’s surface and atmosphere are required. This paper proposes the development of a gas sensor system for a small UAV to monitor pollutant gases, collect data and geo-locate where the sample was taken. The prototype has two principal systems: a light portable gas sensor and an optional electric–solar powered UAV. The prototype will be suitable to: operate in the lower troposphere (100-500m); collect samples; stamp time and geo-locate each sample. One of the limitations of a small UAV is the limited power available therefore a small and low power consumption payload is designed and built for this research. The specific gases targeted in this research are NO2, mostly produce by traffic, and NH3 from farming, with concentrations above 0.05 ppm and 35 ppm respectively which are harmful to human health. The developed prototype will be a useful tool for scientists to analyse the behaviour and tendencies of pollutant gases producing more realistic models of them.

Boards' contribution to strategy and innovation

Among the most disputed issues within the business arena and among academic scholars are which role boards of directors are expected to fulfill, and how they contribute to a company’s success and survival (Monks & Minow, 2008). Recent failures of large corporations worldwide has led corporate governance and strategic management scholars to call for increased board involvement in decision-making (Tricker, 2009) that has paralleled regulators’ requests for higher monitoring and punishments in the case of frauds and misbehaviors (Coffee, 2005)

Evaluation of Trippple : a field analysis

This paper illustrates a field research performed with a team of experts involved in the evaluation of Trippple, a system aimed at supporting the different phases of a tourist trip, in order to provide feedback and insights, both on the functionalities already implemented (that at the time of evaluation were available only as early and very unstable prototypes), and on the functionalities still to be implemented. We show how the involvement of professionals helped to focus on challenging aspects, instead of less important, cosmetic, issues and resulted profitable in terms of early feedback, issues spotted, and improvements suggested

Social cars : sensing, gathering, sharing and conveying social cues to road users

Intelligent Transport Systems (ITS) resembles the infrastructure for ubiquitous computing in the car. It encompasses a) all kinds of sensing technologies within vehicles as well as road infrastructure, b) wireless communication protocols for the sensed information to be exchanged between vehicles (V2V) and between vehicles and infrastructure (V2I), and c) appropriate intelligent algorithms and computational technologies that process these real-time streams of information. As such, ITS can be considered a game changer. It provides the fundamental basis of new, innovative concepts and applications, similar to the Internet itself. The information sensed or gathered within or around the vehicle has led to a variety of context-aware in-vehicular technologies within the car. A simple example is the Anti-lock Breaking System (ABS), which releases the breaks when sensors detect that the wheels are locked. We refer to this type of context awareness as vehicle/technology awareness. V2V and V2I communication, often summarized as V2X, enables the exchange and sharing of sensed information amongst cars. As a result, the vehicle/technology awareness horizon of each individual car is expanded beyond its observable surrounding, paving the way to technologically enhance such already advanced systems. In this chapter, we draw attention to those application areas of sensing and V2X technologies, where the human (driver), the human’s behavior and hence the psychological perspective plays a more pivotal role. The focal points of our project are illustrated in Figure 1: In all areas, the vehicle first (1) gathers or senses information about the driver. Rather than to limit the use of such information towards vehicle/technology awareness, we see great potential for applications in which this sensed information is then (2) fed back to the driver for an increased self-awareness. In addition, by using V2V technologies, it can also be (3) passed to surrounding drivers for an increased social awareness, or (4), pushed even further, into the cloud, where it is collected and visualized for an increased, collective urban awareness within the urban community at large, which includes all city dwellers.

Integrating agency and resource dependence theory : firm profitability, industry regulation, and board task performance

Boards of directors are key governancemechanisms in organizations and fulfill twomain tasks:monitoringmanagers and firm performance, and providing advice and access to resources. In spite of a wealth of researchmuch remains unknown about how boards attend to the two tasks. This study investigates whether organizational (firm profitability) and environmental factors (industry regulation) affect board task performance. The data combine CEOs' responses to a questionnaire, and archival data from a sample of large Italian firms. Findings show that past firm performance is negatively associatedwith board monitoring and advice tasks; greater industry regulation enhances perceived board task performance; board monitoring and advice tasks tend to reinforce each other, despite their theoretical and practical distinction.

Changes to airborne pollen counts across Europe

A progressive global increase in the burden of allergic diseases has affected the industrialized world over the last half century and has been reported in the literature. The clinical evidence reveals a general increase in both incidence and prevalence of respiratory diseases, such as allergic rhinitis (common hay fever) and asthma. Such phenomena may be related not only to air pollution and changes in lifestyle, but also to an actual increase in airborne quantities of allergenic pollen. Experimental enhancements of carbon dioxide (CO) have demonstrated changes in pollen amount and allergenicity, but this has rarely been shown in the wider environment. The present analysis of a continental-scale pollen data set reveals an increasing trend in the yearly amount of airborne pollen for many taxa in Europe, which is more pronounced in urban than semi-rural/rural areas. Climate change may contribute to these changes, however increased temperatures do not appear to be a major influencing factor. Instead, we suggest the anthropogenic rise of atmospheric CO levels may be influential.

A multi-touch notice board fostering social interaction

We report on an alternative OCGM interface for a bulletin board, where a user can pin a note or a drawing, and actually shares contents. Exploiting direct and continuous manipulations, opposite to discrete gestures, to explore containers, the proposed interface supports a more natural and immediate interaction. It manages also the presence of different simultaneous users, allowing for the creation of local multimedia contents, the connection to social networks, providing a suitable working environment for cooperative and collaborative tasks in a multi-touch setup, such as touch-tables, interactive walls or multimedia boards

Making YAWL and SmartPM interoperate : managing highly dynamic processes by exploiting automatic adaptation features

In the last years, the trade-o between exibility and sup- port has become a leading issue in work ow technology. In this paper we show how an imperative modeling approach used to de ne stable and well-understood processes can be complemented by a modeling ap- proach that enables automatic process adaptation and exploits planning techniques to deal with environmental changes and exceptions that may occur during process execution. To this end, we designed and imple- mented a Custom Service that allows the Yawl execution environment to delegate the execution of subprocesses and activities to the SmartPM execution environment, which is able to automatically adapt a process to deal with emerging changes and exceptions. We demonstrate the fea- sibility and validity of the approach by showing the design and execution of an emergency management process de ned for train derailments.

A novel route in bone tissue engineering : magnetic biomimetic scaffolds

In recent years, interest in tissue engineering and its solutions has increased considerably. In particular, scaffolds have become fundamental tools in bone graft substitution and are used in combination with a variety of bio-agents. However, a long-standing problem in the use of these conventional scaffolds lies in the impossibility of re-loading the scaffold with the bio-agents after implantation. This work introduces the magnetic scaffold as a conceptually new solution. The magnetic scaffold is able, via magnetic driving, to attract and take up in vivo growth factors, stem cells or other bio-agents bound to magnetic particles. The authors succeeded in developing a simple and inexpensive technique able to transform standard commercial scaffolds made of hydroxyapatite and collagen in magnetic scaffolds. This innovative process involves dip-coating of the scaffolds in aqueous ferrofluids containing iron oxide nanoparticles coated with various biopolymers. After dip-coating, the nanoparticles are integrated into the structure of the scaffolds, providing the latter with magnetization values as high as 15 emu g�1 at 10 kOe. These values are suitable for generating magnetic gradients, enabling magnetic guiding in the vicinity and inside the scaffold. The magnetic scaffolds do not suffer from any structural damage during the process, maintaining their specific porosity and shape. Moreover, they do not release magnetic particles under a constant flow of simulated body fluids over a period of 8 days. Finally, preliminary studies indicate the ability of the magnetic scaffolds to support adhesion and proliferation of human bone marrow stem cells in vitro. Hence, this new type of scaffold is a valuable candidate for tissue engineering applications, featuring a novel magnetic guiding option.

Automatic inference of driving task demand from visual cues of emotion and attention

Sensing the mental, physical and emotional demand of a driving task is of primary importance in road safety research and for effectively designing in-vehicle information systems (IVIS). Particularly, the need of cars capable of sensing and reacting to the emotional state of the driver has been repeatedly advocated in the literature. Algorithms and sensors to identify patterns of human behavior, such as gestures, speech, eye gaze and facial expression, are becoming available by using low cost hardware: This paper presents a new system which uses surrogate measures such as facial expression (emotion) and head pose and movements (intention) to infer task difficulty in a driving situation. 11 drivers were recruited and observed in a simulated driving task that involved several pre-programmed events aimed at eliciting emotive reactions, such as being stuck behind slower vehicles, intersections and roundabouts, and potentially dangerous situations. The resulting system, combining face expressions and head pose classification, is capable of recognizing dangerous events (such as crashes and near misses) and stressful situations (e.g. intersections and way giving) that occur during the simulated drive.