Dynamic pricing model and algorithm for perishable products with fuzzy demand (ABS 2* Journal)

This paper studies the dynamic pricing problem of selling fixed stock of perishable items over a finite horizon, where the decision maker does not have the necessary historic data to estimate the distribution of uncertain demand, but has imprecise information about the quantity demand. We model this uncertainty using fuzzy variables. The dynamic pricing problem based on credibility theory is formulated using three fuzzy programming models, viz.: the fuzzy expected revenue maximization model, a-optimistic revenue maximization model, and credibility maximization model. Fuzzy simulations for functions with fuzzy parameters are given and embedded into a genetic algorithm to design a hybrid intelligent algorithm to solve these three models. Finally, a real-world example is presented to highlight the effectiveness of the developed model and algorithm.

The Sustainability Balanced Scorecard. Linking Sustainability Management to Business Strategy.

The Balanced Scorecard of Kaplan and Norton is a management tool that supports the successful implementation of corporate strategies. It has been discussed and considered widely in both practice and research. By linking operational and non-financial corporate activities with causal chains to the firm's long-term strategy, the Balanced Scorecard supports the alignment and management of all corporate activities according to their strategic relevance. The Balanced Scorecard makes it possible to take into account non-monetary strategic success factors that significantly impact the economic success of a business. The Balanced Scorecard is thus a promising starting-point to also incorporate environmental and social aspects into the main management system of a firm. Sustainability management with the Balanced Scorecard helps to overcome the shortcomings of conventional approaches to environmental and social management systems by integrating the three pillars of sustainability into a single and overarching strategic management tool. After a brief discussion of the different possible forms of a Sustainability Balanced Scorecard the article takes a closer look at the process and steps of formulating a Sustainability Balanced Scorecard for a business unit. Before doing so, the basic conventional approach of the Balanced Scorecard and its suitability for sustainability management will be outlined in brief.

Exploring the dilemma of local sourcing versus international development – the case of the flower industry

This paper examines the debate surrounding local versus international sourcing of retail products, particularly food and flowers, in light of the emerging carbon imperative. It begins by examining the Fairtrade market and then examines food miles and carbon impact. The complexity of sourcing decisions when considering both international development issues and the emerging carbon agenda is considered using the case of the cut flower industry

Gender Diversity in the FTSE 100: The Business Case Claim Explored

This article examines the debate within corporate governance about the
appointment of female non-executive directors (NEDs). The first part
tracks the diversity story that corporate governance tells about itself from
the Cadbury Report (1992) to the Davies Report (2011). The second sets
out the evidence used to support the argument that female appointments
enhance profits and corporate profile. The third part presents the
authors' empirical analysis of FTSE 100 companies and female non-
executive board membership, and concludes that there is little evidence
that companies with female board membership display different charac-
teristics from those without. Industry sector emerges as a significant
factor in female appointments. The idea that women should be appointed
to boards to increase corporate profitability and profile is not strongly
supported by this analysis.A social justice argument based upon the right
of woman to equal economic participation opportunities provides a much
superior articulation of the need for boardroom diversity.

Irresponsible Lending?: A Case Study of a U.K. Credit Industry Reform Initiative

There are major concerns about the level of personal borrowing, particularly sourced from credit cards. This paper charts the progress of an initiative to create a Responsible Lending Index (RLI) for the credit industry. The RLI proposed to voluntarily benchmark lending standards and promote best practice within the credit industry by involving suppliers of credit, customer representatives and regulators. However, despite initial support from some banks, consumer bodies and the Chair of the Treasury Select Committee, it failed to gain sufficient support from financial institutions in its original format. The primary reasons for this were related to the complexity of building such a robust index and the banks trade body’s fear of exposing its members to public scrutiny. A revised alternative, the Responsible Lending Initiative, was proposed which took into account these concerns. However, the Association of Payment Clearing Service (APACS), the trade body of the credit industry, then effectively destroyed the proposal. This article describes an attempt to address the challenges in the credit card industry with the initiation of the RLI, reflected in stakeholder discourse and in the context of a wider concern expressed by the involved stakeholders in terms of the need for greater responsibility in the banking industry’s lending practices.

The changing university business model: a stakeholder perspective

Universities are in a current state of transition, whereby they are expected to develop a wide range of relationships with stakeholders in order to enhance regional innovation systems. However, despite external environmental pressures commonly regarded as one of the main drivers of business model evolution, there is a lack of studies that explore business model innovation as a result of multiple stakeholder influences. Accordingly, the aim of this paper is to examine the changing university business model within a region of the United Kingdom, using a stakeholder perspective that will aid theoretical development and refinement in both the business model and stakeholder fields. This examination is aided by consideration of the university business model as an activity system. Repeat interviews, combined with stakeholder theory, have been used to show how the changing university business model–stakeholder relationship has progressed through different stakeholder stages with resultant changes in content, structure and governance. Furthermore, conflicting objectives between each of the stakeholder groups (i.e. academics, industry liaison staff, technology transfer office staff and government support agency representatives) have led to the university business model evolving not as a process of co-creation but rather in a series of transitions whereby multiple stakeholders are continually shaping the university business model through strategies that are dependent upon their salience. Finally, this paper contributes to the development and refinement of business model innovation research, in that the use of stakeholder constructs can illustrate the impact of multiple stakeholders' power and influence on business model innovation.

Happy hour followed by hangover: financing the UK brewery industry, 1880-1913

In the last 15 years of the nineteenth century c.300 British brewers incorporated and floated securities on the stock market. Subsequently, in the 1900s, the industry suffered a long-lived hangover. In this paper, we establish the stylised facts of this transformation and estimate the gains enjoyed by brewery investors during the boom as well as the losses suffered by investors during the bust of the 1900s. However, not all brewery equity shares suffered alike. We find that post-1900 performance correlates positively with capital-market discipline and good corporate governance and negatively with family control, but does not correlate with indebtedness.

Open for Business: Universities, Entrepreneurial Academics and Open Innovation

The emergence of open innovation theory and practice, alongside the evolution to a quadruple helix system of innovation, has led to a need for universities to rethink their models of engagement with industry and wider society. One important element in this system is the entrepreneurial academics; however there is a lack of research considering the motivations of entrepreneurial academics, who differ from academic entrepreneurs, to engage in knowledge transfer in line with open innovation policy. This research offers practical insights on whether new models of engagement, increasingly offered by universities, really address the policy drivers for open innovation. Furthermore, this research explores whether these activities might motivate entrepreneurial academics to participate. Preliminary findings identify that many supposedly new collaboration activities do not really motivate entrepreneurial academics. This may have important implications on the ability of universities to become truly open and to encourage their academics to become engaged in collaboration and impact.

Conversations with the Future: Creativity, Aesthetics and Industry Application in Anthropological Practice

This article presents a series of conversations with anthropologists working in collaborative, interdisciplinary settings and projects. It examines the changing role and place of anthropology on the island of Ireland, particular for early career anthropologists. With anthropologists now working in settings as diverse as business schools, health, music, documentary making and industry (to name but a few), early career researchers are now dealing with new challenges. In this piece, we map out a number of these debates and show how a multiplicity of anthropologies and practices are emerging on the island.