Investigation of the value chain for creative products : a phenomenological study of the perceptions of music intermediaries

During the past decade, innovative digital technology and Internet marketplaces have created a variety of 'phenomena' of businesses, media and institutions considered to be important interaction channels in the music industry, along with an influx of Peer-to-Peer services such as Napster, and Kazaa shifting the business models of major music labels and distributors. Considering the Australian Music Association reported an annual retail turnover of approximately $300 million in 1992 and later in 1999, an increase in figures reported at $396.8 million with the inclusion of music DVD sales, the notion of value-adding to a music product emerges as a profitable venture at each length of the music industry's value chain. In spite of this, Australian studies have often overlooked the underlying perceptions, fears and ideas of those working within the value chain, especially regarding the impact of new technology on their roles. This paper identifies the perceptions of various intermediaries within the Australian Music Industry, identifying common themes and viewpoints amongst the study's participants. Consequently, the paper concluded that the perception of value in the music industry is somewhat influenced by a variety of factors, including music knowledge, communication and dependence on intermediaries to name a few. Common themes were revealed throughout the study include the perception of competitive advantage, new opportunities from new technology and the notion of defining a gimmick versus Value-Adding emerged as indicative of adding value from the study participants.

Value chain supply procurement strategies in international construction: cases of foreign constructors in China

Purpose – Firms compete using a variety of strategies. Typically they aim to provide something different, to be better, or simply cheaper. In the construction industry, the performance characteristics, quality and cost of the final delivered project will be the outcome of the interplay of capabilities of all the firms involved in the project. Consequently, in order to improve competitiveness, firms must pay attention to not only their own competitive advantage but to those of the firms, both up-stream and down-stream, on whom they depend in delivering their projects. For foreign constructors in China, those competitive considerations will be informed by circumstances different from home. How then do foreign constructors adapt themselves to the problem of sourcing competitively when located within a China-based supply chain? The paper aims to discuss these issues.

Design/methodology/approach – In this study 60 foreign enterprises operating within the Chinese construction sector were investigated by using a comparative case study approach.

Findings – Four generic procurement strategies were identified. First, firms adapt themselves in the search for optimal supply sources by replicating home-based suppliers, controlling local suppliers, or by remaining agile and non-aligned. Second, firms develop niche supply monopolies through market dominance, uniquely differentiated offerings, or by integration with down-stream providers. Third, firms find opportunities to bring in off-shore technology intensive procurements, where that technology is either protected, improved upon, or sold. Finally, firms also seek to transit to China as a procurement base in order to reduce local supply cost, service world-wide operations, or as part of a total strategy of China relocation.

Originality/value – The identification of this rich range of procurement approaches will be of interest to internationalization strategists, as well as to industry practitioners looking to find appropriate business models for off-shore operations.

Plagiarism – can preventative measures and a commitment to the value of learning by academics and students reduce plagiarism in classrooms?

Plagiarism is an interruptive act in the teaching and learning value chain. This paper analyses the impact of both plagiarism and effective assessment in the learning value chain. Effective assessment is the positive outcome. Plagiarism negates or breaks the chain. Anecdotal evidence suggests the incidences of plagiarism are increasing in faculties across the Queensland University of Technology (QUT), and where every subject/unit outline includes a statement and warning to students of the penalties of this activity, deterrence tools do not overcome the harmful impact of plagiarism on the teacher/student learning relationship. A working party established in 2000 in the Faculty of Business at QUT, examined the literature, university policies, teaching and learning practices, and examples of plagiarism and penalties in order to identify the wider learning and assessment issues surrounding plagiarism and options for action and policy. A three-semester study of acts of plagiarism and wide consultation with staff presented the working party with an opportunity to develop a set of preventative measures, and also exposed the legal, cultural and accountability issues of diverse attitudes and values.

The paper presents the findings and recommendations from the investigation, and also proposes an interpretation of marketing theory of the impact of plagiarism on the teaching and learning value chain.

Transforming value perception in music information systems

Information systems are changing the way artists and consumers create, use and interact with music. Music experience has become richer and more sophisticated than simply buying and listening to music. New links between IS and music are forging unprecedented levels of creative e-collaboration, innovative music technology development, new music commerce and marketing methods, alongside with the emergence of e-music communities nurturing up-and-coming artists careers. Distinct from non-creative industries, the music industry is at the forefront of technological innovation where the ubiquitous adoption of music downloading, widespread use of personal music systems, and value chain disintermediation has shifted the focus of value delivery towards consumer control. This paper provides new insights into the effect of recent technological change on stakeholders within the music industry value chain, and of music information systems upon creative music products. The paper further explores the stakeholder perceptions of the value added or depleted from music by the technology, and examines the future expectations of information systems amidst the volatility and uncertainty of the music industry.

An agent-based approach to value theory and wealth distribution in economics

Any attempt to model an economy requires foundational assumptions about the relations between prices, values and the distribution of wealth. These assumptions exert a profound influence over the results of any model. Unfortunately, there are few areas in economics as vexed as the theory of value. I argue in this paper that the fundamental problem with past theories of value is that it is simply not possible to model the determination of value, the formation of prices and the distribution of income in a real economy with analytic mathematical models. All such attempts leave out crucial processes or make unrealistic assumptions which significantly affect the results. There have been two primary approaches to the theory of value. The first, associated with classical economists such as Ricardo and Marx were substance theories of value, which view value as a substance inherent in an object and which is conserved in exchange. For Marxists, the value of a commodity derives solely from the value of the labour power used to produce it - and therefore any profit is due to the exploitation of the workers. The labour theory of value has been discredited because of its assumption that labour was the only ‘factor’ that contributed to the creation of value, and because of its fundamentally circular argument. Neoclassical theorists argued that price was identical with value and was determined purely by the interaction of supply and demand. Value then, was completely subjective. Returns to labour (wages) and capital (profits) were determined solely by their marginal contribution to production, so that each factor received its just reward by definition. Problems with the neoclassical approach include assumptions concerning representative agents, perfect competition, perfect and costless information and contract enforcement, complete markets for credit and risk, aggregate production functions and infinite, smooth substitution between factors, distribution according to marginal products, firms always on the production possibility frontier and firms’ pricing decisions, ignoring money and credit, and perfectly rational agents with infinite computational capacity. Two critical areas include firstly, the underappreciated Sonnenschein-Mantel- Debreu results which showed that the foundational assumptions of the Walrasian general-equilibrium model imply arbitrary excess demand functions and therefore arbitrary equilibrium price sets. Secondly, in real economies, there is no equilibrium, only continuous change. Equilibrium is never reached because of constant changes in preferences and tastes; technological and organisational innovations; discoveries of new resources and new markets; inaccurate and evolving expectations of businesses, consumers, governments and speculators; changing demand for credit; the entry and exit of firms; the birth, learning, and death of citizens; changes in laws and government policies; imperfect information; generalized increasing returns to scale; random acts of impulse; weather and climate events; changes in disease patterns, and so on. The problem is not the use of mathematical modelling, but the kind of mathematical modelling used. Agent-based models (ABMs), objectoriented programming and greatly increased computer power however, are opening up a new frontier. Here a dynamic bargaining ABM is outlined as a basis for an alternative theory of value. A large but finite number of heterogeneous commodities and agents with differing degrees of market power are set in a spatial network. Returns to buyers and sellers are decided at each step in the value chain, and in each factor market, through the process of bargaining. Market power and its potential abuse against the poor and vulnerable are fundamental to how the bargaining dynamics play out. Ethics therefore lie at the very heart of economic analysis, the determination of prices and the distribution of wealth. The neoclassicals are right then that price is the enumeration of value at a particular time and place, but wrong to downplay the critical roles of bargaining, power and ethics in determining those same prices.

Consumer satisfaction and post-purchase intentions: an exploratory study of museum visitors

This paper examines the relationship between consumer satisfaction and subsequent intentions in the museum context, as well as the moderating influence of demographic characteristics such as gender, age and education in that relationship. The relationship between satisfaction and a range of service elements, overall satisfaction with the experience and intentions was investigated. Museum marketers can profit by examining the "value chain" of museum experience outlined in the model presented, especially the greater likelihood of consumers recommending the experience to others than making a repeat visit themselves, and by investigating segment differences beyond those reported here.

A values approach to business education in Hong Kong

This paper investigates the learning behaviour, learning environment and learning outcomes of Hong Kong Chinese students enrolled on an Australian university's Bachelor of Business degree course taught by visiting Australian lecturers in Hong Kong. The Chinese students are task-focused and passive learners. They do not demonstrate creative thinking, critical analysis or risk taking in problem solving, and appear to focus on surface-level rote learning. Semi-structured interviews with students and lecturers identified the changes experienced in learning behaviour and teaching strategies. By applying a teaching and learning value chain developed by Radbourne in 2001 and using Biggs's 3P culturally modified model of teaching and learning, new teaching strategies were developed to ensure that the Chinese Hong Kong students graduated with the capabilities required to be effective in the global workplace. (Contains 2 figures and 1 table.)

Consumer satisfaction and post-purchase intentions: an exploratory study of museum visitors

This paper examines the relationship between consumer satisfaction and future intentions in the museum context, and the role that demographic characteristics such as gender, age and education play. The variables Expectations Met, Satisfaction, Value, Intention to Return, and Recommendation to Others, were all found to be correlated. However, although it is often assumed that the level of educational attainment, gender and age correlate strongly with arts and cultural usage, this research found that the only statistically significant differences were that females had a higher mean Intention to Return, and there was a weak positive association between Age and Satisfaction, and weak negative associations between Education and Expectations Met, Satisfaction, and Recommendation to Others. Museum marketers may profit from examining the "value chain" of museum experience outlined in the model presented, especially the greater likelihood of positive recommendations to others than individual intention to revisit, and by investigating segment differences beyond those reported here.

Environmentally sustainable food production and marketing : opportunity or hype?

Purpose: Identify and analyse the beliefs of value-chain intermediaries regarding the production and marketing of food products conforming to environmentally sustainable standards.

Methodology: In-depth, semi-structured, face-to-face interviews with senior managers of food companies across the value chain.

Findings: In Australia, the demand for foods that are produced under environmentally sustainable standards has been slow to take-off because (a) customers do not perceive these products as offering any special benefits (b) customers distrust the claims made by organisations (c) these products are much more expensive than traditional products, and (d) the implementation of environmental standards is expensive. Customers claim that the use of different terminologies such as organic, green and environmentally friendly in promoting
food products is confusing.

Research Limitations: Findings are not generalisable because the study is based on a small sample.

Practical Implications: Value-chain intermediaries are unlikely to voluntarily adopt environmental standards because of low demand for such foods and the high costs of adopting and monitoring environmentally sustainable production and marketing regimes.

Internet and competitive advantage in Australian professional sport organisations

The electronic revolution has proven to be a powerful stimulus for change in business practice. As a business tool however, the Internet must endure the same scrutiny under which other business activities are placed. If the use of the Internet in business is a sound strategy, then it must contribute toward competitive advantage. The sport business industry has not been isolated from the vagaries of Internet applications. Moreover, as the industry has become more competitive, forcing sporting organisations towards unprecedented levels of accountability and business practice, the Internet has been increasingly seen as a potential 'holy grail' for sport organisations struggling for revenue (Stewart & Smith, 1999). This research is a response to these pressures. It seeks to identify Internet based opportunities for competitive advantage, and to provide strategies and recommendations for the successful use of the Internet in Australian professional sport organisations. In realising this objective, a newly developed and integrated Business Activity Model has been constructed. The model assists in the identification of specific Internet based competitive advantage strategies, and provides a theoretical framework for this research. The Business Activity Model conceptualises, for the first time, the relationships between the value chain, constituents of electronically enabled competitive advantage, and the Internet. With Australia's limited group of fully professional sports capable of sustaining the human resources and budgets necessary to implement comprehensive e-commerce strategies, the organisations selected to participate in this research represent the pinnacle of Australian professional sport clubs. Specifically, the 55 clubs competing in the Australian Football League (A.F.L.), National Basketball League (N.B.L.), National Rugby League (N.R.L.), and National Soccer League (N.S.L.) constituted the research sample and population. In concert with the 87% participation rate, sampling approached a census. A telephone-administered survey, based primarily on the rigorously tested instrument developed by Sethi and King (1994), was employed for data collection. This research employs a comprehensive set of descriptive statistics, and is bolstered by a confirmatory and an exploratory factor analysis, undertaken on one component of the data. The outcome of this research was the identification of seven practical recommendations for Australian professional sport organisations seeking to improve competitive advantage via the Internet. These recommendations were based on an inventory of the 'gaps' between the strategies proposed by the literature, and the practices of the sample, and relate to both overall Internet strategy, and specific web site applications. The development of the new Business Activity Model and the identification of key online strategy themes support and complement these recommendations. An examination of variations in the practices of participating organisations, and some comparisons against United States sporting organisations, also provides depth and context to the findings. This research provides a platform for sport managers to effectively harness the potential of the Internet, through their web sites in particular, and realise significant competitive advantages. The Business Activity Model provides managers in all industries with a tool for the detection and understanding of potential elements of competitive advantage, and incorporates all activities critical to business in the new digital economy. Seven practical recommendations for improved online performance based on identified competitive advantage and strategies fulfils the primary objective of this research. E-commerce continues to grow at astronomical rates, and with the Internet poised to become the life-blood of 21st century sporting organisations, these recommendations will assist managers in their ongoing search for competitive advantage.

Dot.Com rise as an indicator of business growth and economic progress : a retrospective view on telecom and banking sectors in Australia and India

In the year 2000, businesses in banking and telecom sectors worldwide re-engineered their value chain by extending their services by adapting ebusiness through dot.com launches. Subsequently, their validity became questionable with the spate of dot.com crashes and the IT stock meltdown. This book takes a retrospective view, indicating that e-business, as measured by dot.com growth trends, was a positive indicator for business growth in the sector and overall economic growth as it stimulated the respective economies. The book details an inductive analysis that studied if dot.com floats suggested any positive market capitalisation (broadly regarded as a measure of profitability) for the organisations, within two sectors, in two economies. In addition, there is detailed content analysis of global business trends, drivers, theories, sector/economy perspectives, achieved progress and instrumental cases. The book will be a view in retrospect for economists, business analysts, students of ebusiness and management (particularly MBA); academics and researchers.

Sales Promotion Decision Making: Concepts, Principles, and Practice

Up to 74% of marketing budgets can be spent on sales promotions, with manufacturers, suppliers and retailers employing a wide range of incentives from price discounts to complex Omni-channel consumer competitions and contests. Sales promotions are a vital strategic and tactical tool within the marketing value chain and those responsible for campaign planning must negotiate objectives, options and outcomes to ensure their initiatives deliver real results in competitive trading environments. Managers with limited understanding of the principles and practices of sales promotions often rely on past experience or preferences to guide their decision-making. Not surprisingly, without guiding principles, many sales promotions fail to achieve their full potential. This book is a resource for sales promotion professionals looking to improve the effectiveness of their sales promotions. The book is based on an extensive review of over 400 articles and cases. It presents the findings of global research which explores the very DNA of sales promotions, including their role, rationale, nature and function, key decision-making processes and campaign evaluation. Illustrations of sales promotion decision-making in practice based on research conducted in the retail supply chain is also incorporated. This book offers a comprehensive and critical appreciation of the core concepts that underpin sales promotion thinking. The goal is to empower decision-makers, consultants and stakeholders to make confident, informed and effective campaign decisions in the complex field of sales promotions.

Effect of diets containing n-3 fatty acids on muscle long-chain n-3 fatty acid content in lambs fed low- and medium-quality roughage diets

In two experiments, each with 32 crossbred ([Merino x Border Leicester] x Poll Dorset) wether lambs (26 to 33 kg weight range), animals were randomly assigned to one of four treatments. A mixture of lucerne chaff:oaten chaff was used as a basal diet, offered in different ratios. Animals were allowed to consume on a free-access basis in Exp. 1 or 90% of ad libitum intake in Exp. 2 in order to provide a low- (6.5 MJ ME/d) and medium- (9.5 MJ ME/d) quality basal diet, respectively. Isoenergetic amounts of lipid supplements, fish meal (80 g DM), canola meal (84 g DM), and soy meal (75 g DM) were tested in Exp. 1. In Exp. 2, fish meal (9% DM), unprotected rapeseed (7% DM), and protected canola seed (6% DM) were fed as supplements. At the end of 53-d (Exp. 1) or 46-d (Exp. 2) experimental periods, lambs were slaughtered at a commercial abattoir and at 24 h postmortem longissimus thoracis (LT) muscle was collected for the analysis of fatty acid (FA) composition of structural phospholipid and storage triglyceride fractions. Fish meal diet increased LT muscle long-chain n-3 FA content by 27% (P < 0.02) in Exp. I and 30% (P < 0.001) in Exp. 2 compared with lambs fed the basal diet, but fish meal decreased (P < 0.01) the n-6 FA content only in Exp. 1. Soy meal and protected canola seed diets increased (P < 0.01) LT muscle n-6 FA content but did not affect long-chain n-3 FA content. Longissimus thoracis muscle long-chain n-3 FA were mainly deposited in structural phospholipid, rather than in storage triglyceride. In both Exp. 1 and Exp. 2, the ratio of n-6:n-3 FA in LT muscle was lowest (P < 0.01) in lambs fed fish meal supplement compared with all other treatments. Protected canola seed diet increased the ratio of n-6:n-3 FA (P < 0.01) and PUFA:saturated fatty acid (P < 0.03) content from those animals fed the basal, fish meal, and unprotected rapeseed diets in Exp. 2. This was due to an increase in muscle n-6 FA content, mainly linoleic acid, of both phospholipid (P < 0.001) and triglyceride (P < 0.01) fractions and not to an increase in muscle n3 FA content. The results indicate that by feeding fish meal supplement, the essential n-3 FA can be increased while lowering the ratio of n-6:n-3 content in lamb meat to an extent that could affect nutritional value, attractiveness, and the economic value of meat.

Exploring the opportunities for sustainable food labelling : a supply chain perspective

This study examines supply chain members’ beliefs regarding the opportunities to develop foods produced under an 'eco-friendly' label. The study involved in-depth interviews with 17 Australian senior managers in food organisations who have marketing responsibilities and who have expert product and consumer knowledge (c.f. Clift and Wright 2000, Peattie 2000). The findings suggest that respondents have widely different beliefs regarding the meaning of 'eco-friendly' and believe that claims regarding 'eco-friendly' characteristics are difficult to substantiate. They further suggested that 'eco-friendly' considerations are not a major influencer of consumer food purchase decisions at present and thus 'eco-friendly' production was not a strategic focus of their companies. Respondents felt that 'eco-friendly' labelling would not be successful until consumers’ value 'eco-friendly' food attributes.