Electronic commerce investments, the resource-based view of the firm, and firm market value

Firms have embraced electronic commerce as a means of doing business, either because they see it as a way to improve efficiency, grow market share, expand into new markets, or because they view it as essential for survival. Recent research in the United States provides some evidence that the market does value investments in electronic commerce. Following research that suggests that, in certain circumstances, the market values noninnovative investments as well as innovative investments in new products, we partition electronic commerce investment project announcements into innovative and noninnovative to determine whether there are excess returns associated with these types of announcements. Apart from our overall results being consistent with the United States findings that the market values investments in electronic commerce projects, we also find that noninnovative investments are perceived as more valuable to the firm than innovative investments. On average, the market expects innovative investments to earn a return commensurate with their risk. We conclude that innovative electronic commerce projects are most likely seen by the capital market as easily replicable, and consequently have little, if any, competitive advantage period. On the other hand, we conclude from the noninnovative investment results that these types of investments are seen as being compatible with a firm's assets-in-place, in particular, its information technology capabilities, a view consistent with the resource-based view of the firm.

Phenomenological turbulence and innovation in knowledge systems

Most considerations of knowledge management focus on corporations and, until recently, considered knowledge to be objective, stable, and asocial. In this paper we wish to move the focus away from corporations, and examine knowledge and national innovation systems. We argue that the knowledge systems in which innovation takes place are phenomenologically turbulent, a state not made explicit in the change, innovation and socio-economic studies of knowledge literature, and that this omission poses a serious limitation to the successful analysis of innovation and knowledge systems. To address this lack we suggest that three evolutionary processes must be considered: self-referencing, self-transformation and self-organisation. These processes, acting simultaneously, enable system cohesion, radical innovation and adaptation. More specifically, we argue that in knowledge-based economies the high levels of phenomenological turbulence drives these processes. Finally, we spell out important policy principles that derive from these processes.

Hybrid knowledge representation in a blackboard KBS for liquid retaining structure design

This paper highlights the importance of design expertise, for designing liquid retaining structures, including subjective judgments and professional experience. Design of liquid retaining structures has special features different from the others. Being more vulnerable to corrosion problem, they have stringent requirements against serviceability limit state of crack. It is the premise of the study to transferring expert knowledge in a computerized blackboard system. Hybrid knowledge representation schemes, including production rules, object-oriented programming, and procedural methods, are employed to express engineering heuristics and standard design knowledge during the development of the knowledge-based system (KBS) for design of liquid retaining structures. This approach renders it possible to take advantages of the characteristics of each method. The system can provide the user with advice on preliminary design, loading specification, optimized configuration selection and detailed design analysis of liquid retaining structure. It would be beneficial to the field of retaining structure design by focusing on the acquisition and organization of expert knowledge through the development of recent artificial intelligence technology. (C) 2003 Elsevier Ltd. All rights reserved.

Managing knowledge in tourism planning: How to assess your capability

This paper explores the theme of strategic planning in a State Tourism Organization (STO) from a knowledge management perspective. It highlights the value of knowledge in strategy making and the importance of an organisation's knowledge management agenda in facilitating a strategic planning process. In particular, it considers the capability of an STO to implement knowledge management as the key to a successful strategic planning exercise. In order to develop greater insight into the factors that impact on planning competence, the key aim of this paper is to develop a framework on which the capability of a STO to implement a knowledge-based agenda in strategic planning can be assessed. Research on knowledge management in the field of tourism is limited and there is little practical account of the application of knowledge management principles in tourism planning. Further, there is no apparent tool or instrument that allows for the assessment of an STO's capability to implement knowledge management in planning initiatives. Based on a literature review, a three-point framework of assessment is developed. The three elements of the framework are identified as: 1. Integration of knowledge management objectives with strategic imperatives; 2. A planning approach that balances top-down (outcome focused) with bottom-up (process focused) planning processes; and 3. Organisational capacity, including leadership, people and culture, process, technology, content and continuous improvement. The framework is tested through application to a practical case study - a planning initiative undertaken by a leading tourism STO in Australia. The results demonstrate that the framework is a useful means to evaluate organisational capability in knowledge-led strategic planning exercises and would be of practical value as a point of reference for future knowledge- based strategic planning projects. Copyright © by The Haworth Press, Inc. All rights reserved.

Learning to play Pac-Man: An evolutionary, rule-based approach

Pac-Man is a well-known, real-time computer game that provides an interesting platform for research. We describe an initial approach to developing an artificial agent that replaces the human to play a simplified version of Pac-Man. The agent is specified as a simple finite state machine and ruleset. with parameters that control the probability of movement by the agent given the constraints of the maze at some instant of time. In contrast to previous approaches, the agent represents a dynamic strategy for playing Pac-Man, rather than a pre-programmed maze-solving method. The agent adaptively "learns" through the application of population-based incremental learning (PBIL) to adjust the agents' parameters. Experimental results are presented that give insight into some of the complexities of the game, as well as highlighting the limitations and difficulties of the representation of the agent.

An evaluation of the Keep on Talking program for maintaining communication skills into old

Communication skills change with age as a result of sensory deficits, memory loss, and increasing word finding difficulties The Keep on Talking program (L. Hickson, H. Barnett, L. Worrall, & E. Yiu, 1994) was developed to assist older people to develop their own strategies for maintaining communication skills into old age. Two hundred and fifty-two healthy older people were recruited from the community and were assessed on a battery of communication assessments on entry to the study and at 1 year after entry. The experimental group (n = 120) participated in the 5-week group Keep on Talking program run by volunteers A further 130 control subjects were assessed only. The short-term effectiveness of the program was evaluated using a short knowledge based and attitudinal questionnaire and qualitative written feedback. At the I-year follow up, subjects were also asked whether they had taken any action as a result of the project. Results concluded that there was a significant difference between the number of correct questionnaire responses on the knowledge based items and the ratings on the attitudinal items pre- and postprogram questionnaire for the experimental subjects. Qualitative written feedback was positive with many participants remarking on the amount of information that they had acquired. Forty-eight experimental and 69 control subjects (n = 117) were assessed I year later, and there was a significant difference between the groups in terms of the number of subjects who reported having taken action as a result of the program. The Keep on Talking program increased knowledge about communication, produced a positive change in attitude toward the importance of communication, and encouraged participants to take action to maintain their communication skills. Maintaining communication skills may prevent social isolation. This simple 5-hour group program has been effective in empowering participants to maintain. their communication skills as they age.

Protein fold recognition score functions: Unusual construction strategies

We describe two ways of optimizing score functions for protein sequence to structure threading. The first method adjusts parameters to improve sequence to structure alignment. The second adjusts parameters so as to improve a score function's ability to rank alignments calculated in the first score function. Unlike those functions known as knowledge-based force fields, the resulting parameter sets do not rely on Boltzmann statistics, have no claim to representing free energies and are purely constructions for recognizing protein folds. The methods give a small improvement, but suggest that functions can be profitably optimized for very specific aspects of protein fold recognition, Proteins 1999;36:454-461. (C) 1999 Wiley-Liss, Inc.

Protein sequence threading, the alignment problem, and a two-step strategy

Conventionally, protein structure prediction via threading relies on some nonoptimal method to align a protein sequence to each member of a library of known structures. We show how a score function (force field) can be modified so as to allow the direct application of a dynamic programming algorithm to the problem. This involves an approximation whose damage can be minimized by an optimization process during score function parameter determination. The method is compared to sequence to structure alignments using a more conventional pair-wise score function and the frozen approximation. The new method produces results comparable to the frozen approximation, but is faster and has fewer adjustable parameters. It is also free of memory of the template's original amino acid sequence, and does not suffer from a problem of nonconvergence, which can be shown to occur with the frozen approximation. Alignments generated by the simplified score function can then be ranked using a second score function with the approximations removed. (C) 1999 John Wiley & Sons, Inc.

Sausage: protein threading with flexible force fields

Sausage is a protein sequence threading program, but with remarkable run-time flexibility. Using different scripts, it can calculate protein sequence-structure alignments, search structure libraries, swap force fields, create models form alignments, convert file formats and analyse results. There are several different force fields which might be classed as knowledge-based, although they do not rely on Boltzmann statistics. Different force fields are used for alignment calculations and subsequent ranking of calculated models.

Critical cyber pedagogy: Doing multiliteracies in the Singapore classrooms

The Ministry of Education in Singapore has embarked on the ambitious project of introducing IT in schools. The IT Masterplan, budgeted at a cost of $2 billion, aims to wire up all schools by the year 2002. While the well-funded IT Masterplan is seeing the project in its final phase of implementation, this paper argues for a "critical cyber pedagogy" along with the acquisition of the functional and operational skills of technology. Drawing on theories of critical multiliteracies (Burbules & Callister, 2000; Luke, 2000b; New London Group, 1996), this paper explores and suggests how an instructional design of two classroom activities can be utilized as new forms of cyber and technoliteracies. Through the critical evaluation of websites and hypertext construction, students will be equipped with a new literacy that extends reading and writing by incorporating new blended forms of hybrid textualities. This technology-assisted pedagogy can achieve the desired outcome of self-directed learning, teamwork, critical thinking and problem solving strategies necessary for a knowledge-based society.