The future of competition: Co-creating unique value with customers

The article presents a review of the book "The Future of Competition: Co-Creating Unique Value With Customers," by C. K. Prahalad and Venkat Ramaswamy

Reconciling value estimates from the discounted cash flow model and the residual income model

This paper examines why practitioners and researchers get different estimates of equity value when they use a discounted cash flow (CF) model versus a residual income (RI) model. Both models are derived from the same underlying assumption -- that price is the present value of expected future net dividends discounted at the cost of equity capital -- but in practice and in research they frequently yield different estimates. We argue that the research literature devoted to comparing the accuracy of these two models is misguided; properly implemented, both models yield identical valuations for all firms in all years. We identify how prior research has applied inconsistent assumptions to the two models and show how these seemingly small errors cause surprisingly large differences in the value estimates. [ABSTRACT FROM AUTHOR]

What is the value of firms' prior knowledge? Building organisational knowledge capabilities

A firm's prior knowledge facilitates the absorption of new knowledge, thereby renewing a firm's systematic search, transfer and absorption capabilities. The rapidly expanding field of biotechnology is characterised by the convergence of disparate sciences and technologies. This paper, the shift from proteinbased to DNA-based diagnostic technologies, quantifies the value of a firm's prior knowledge and its relation to future knowledge development. Four dimensions of diagnostic and four dimensions of knowledge in biotechnology firms are analysed. A simple scaled matrix method is developed to quantify the positive and negative heuristic values of prior scientific and technological knowledge that is useful for the acquisition and absorption of new knowledge.

Goat meat production: Present status and future possibilities

The bulk of the world's goat population is found in South-East Asia and Africa, where goats are the major source of meat production. Unfortunately, lack of an organized goat meat industry and marketing structure in developing countries is primarily responsible for their poor export earnings compared to those in developed countries such as Australia and New Zealand. Goat meat is leaner than meat from other domestic red meat species as well as being comparable in terms of its nutritional constituents. Furthermore, there are few, if any, religious or cultural taboos limiting the consumption of goat meat. Development of a carcass grading system and a suitable infrastructure in developing countries are some of the key requirements needed to establish a sustainable goat meat industry in the world. With an increase in demand by consumers for low-fat red meat alternatives, the future of the goat meat industry looks promising.

Power generation investment opportunities evaluation: A comparison between net present value and real options approach

To evaluate an investment project in the competitive electricity market, there are several key factors that affects the project's value: the present value that the project could bring to investor, the possible future course of actions that investor has and the project's management flexibility. The traditional net present value (NPV) criteria has the ability to capture the present value of the project's future cash flow, but it fails to assess the value brought by market uncertainty and management flexibility. By contrast with NPV, the real options approach (ROA) method has the advantage to combining the uncertainty and flexibility in evaluation process. In this paper, a framework for using ROA to evaluate the generation investment opportunity has been proposed. By given a detailed case study, the proposed framework is compared with NPV and showing a different results

Modal functions of future tenses in French

The paper disputes two influential claims in the Romance Linguistics literature. The first is that the synthetic future tenses in spoken Western Romance are now rivalled, if not supplanted, as temporal functors by the more recently developed GO futures. The second is that these synthetic futures now have modal rather than temporal meanings in spoken Romance. These claims are seen as reflecting a universal cycle of diachronic change, in which verb forms originally expressing modal (or aspectual) values take on future temporal reference, becoming tenses. The new modal meanings supplant the temporal, which are then taken up by new forms. Challenges to this theory for French are raised on the basis of empirical evidence of two sorts. Positively, future tenses in spoken Romance continue to be used with temporal meaning. Negatively, evidence of modal meaning for these forms is lacking. The evidence comes froma corpora of spoken French, native speaker judgements and verb data from a daily broadsheet. Cumulatively, it points to the reverse of the claims noted above: the synthetic future in spoken French has temporal but little modal meaning.

Learning for fun: The unique contribution of educational leisure experiences

What do visitors want or expect from an educational leisure activity such as a visit to a museum, zoo, aquarium or other such experience? Is it to learn something or to experience learning? This paper uses the term 'learning for fun' to refer to the phenomenon in which visitors engage in a learning experience because they value and enjoy the process of learning itself. Five propositions regarding the nature of learning for fun are discussed, drawing on quantitative and qualitative data from visitors to a range of educational leisure activities. The commonalities between learning for fun and other theoretical constructs such as 'experience,' 'flow', 'intrinsic motivation', and 'curiosity' are explored. It is concluded that learning for fun is a unique and distinctive offering of educational leisure experiences, with implications for future research and experience design.

The future of tobacco control: project summary

The National Health and Medical Research Council has funded Professor Wayne Hall (University of Queensland) and Professor Simon Chapman (University of Sydney) for three years 2006-2008, to research aspects of the future of tobacco control, particularly in nations with advanced tobacco control programs like Australia. Dr Coral Gartner (UQ) and Ms Becky Freeman (USyd) are also working on the project. The University of Queensland's eSpace site provides links to papers and data appendices produced by the University of Queensland team on the project. Materials relevant to this project produced by the University of Sydney group are available at the link provided.

The effects of Australian tall poppy attitudes on American value based leadership theory

A survey study of twenty-two Australian CEOs and their subordinates assessed relationships between Australian leader motives, Australian value based leader behaviour, subordinate tall poppy attitudes and subordinate commitment, effectiveness, motivation and satisfaction (CEMS). On the whole, the results showed general support for value based leadership processes. Subsequent regression analyses of the second main component of Value Based Leadership Theory, value based leader behaviour, revealed that the collectivistic, inspirational, integrity and visionary behaviour sub-scales of the construct were positively related with subordinate CEMS. Although the hypothesis that subordinate tall poppy attitudes would moderate value based leadership processes was not clearly supported, subsequent regression analyses found that subordinate tall poppy attitudes were negatively related with perceptions of value based leader behaviour and CEMS. These findings suggest complex relationships between the three constructs, and the proposed model for the Australian context is accordingly amended. Overall, the research supports the need to consider cultural-specific attitudes in management development.

A Future for the Past: Rethinking the Garden Suburb

In the quest for sustainability in affluent urban societies we could do much worse than to look again at what the garden suburb attempted to do. Brentham garden suburb in West London, which has recently celebrated its centenary, is a case in point.

Emotion in organizations: A neglected topic in I/O psychology, But with a bright future

In this chapter we present a review of some of the main threads of research on the role played by emotion and affect in organizations. In this respect, we refute the notion that organizations are totally rational., where the role of emotion is something that can be discounted or 'managed' out of existence.

Existence of Multiple Solutions for Second Order Boundary Value Problems

We give conditions on f involving pairs of lower and upper solutions which lead to the existence of at least three solutions of the two point boundary value problem y" + f(x, y, y') = 0, x epsilon [0, 1], y(0) = 0 = y(1). In the special case f(x, y, y') = f(y) greater than or equal to 0 we give growth conditions on f and apply our general result to show the existence of three positive solutions. We give an example showing this latter result is sharp. Our results extend those of Avery and of Lakshmikantham et al.

An improved novel method for solving nonlinear boundary value problems

A modified formula for the integral transform of a nonlinear function is proposed for a class of nonlinear boundary value problems. The technique presented in this paper results in analytical solutions. Iterations and initial guess, which are needed in other techniques, are not required in this novel technique. The analytical solutions are found to agree surprisingly well with the numerically exact solutions for two examples of power law reaction and Langmuir-Hinshelwood reaction in a catalyst pellet.

Language Planning and Policy: Recent Trends, Future Directions

A framework for and overview of the key elements of language planning is presented covering status planning, corpus planning, language-in-education planning, prestige planning and critical approaches to language planning. Within each of these areas, key articles outlining important recent directions are discussed indicating the field’s new found sense of vitality.