An assessment of factors affecting performance and growth of new technology based firms in the UK

New Technology Based Firms (NTBF) are considered to be important for the economic development of a country in regards to both employment growth and innovative activity. The latter is believed to contribute significantly to the increase in productivity and therefore the competitiveness of UK’s economy. This study contributes to the above literature by investigating two of the factors believed to limit the growth of such firms in the UK. The first concerns the existence of a ‘knowledge gap’ while the second the existence of a ‘financial gap’. These themes are developed along three main research lines. Firstly, based upon the human capital theory initially proposed by Backer (1964) new evidence is provided on the human capital characteristics (experience and education) of the current UK NTBF entrepreneurs. Secondly, the causal relationship between general and specific human capital (as well as their interactions) upon the company performance and growth is investigated via its traditional direct effect as well as via its indirect effect upon the access to external finance. Finally, more light is shed on the financial structure and the type of financial constraints that high-tech firms face at start-up. In particular, whether a financial gap exists is explored by distinguishing between the demand and the supply of external finance as well as by type of external source of financing. The empirical testing of the various research hypotheses has been obtained by carrying out an original survey of new technology based firms defined as independent companies, established in the past 25 years in R&D intensive sectors. The resulting dataset contains information for 412 companies on a number of general company characteristics and the characteristics of their entrepreneurs in 2004. Policy and practical implications for future and current entrepreneurs and also providers of external finance are provided.

Perceived environmental uncertainty in scenario planning

Scenarioplanning is a strategy tool with growing popularity in both academia and practical situations. Current practices of scenarioplanning are largely based on existing literature which utilises scenarioplanning to develop strategies for the future, primarily considering the assessment of perceived macro-external environmentaluncertainties. However there is a body of literature hitherto ignored by scenarioplanning researchers, which suggests that PerceivedEnvironmentalUncertainty (PEU) influences the micro-external as well as the internal environment of the organisation. This paper reviews the most dominant theories on scenarioplanning process and PEU, developing three propositions for the practice of scenarioplanning process. Furthermore, it shows how these propositions can be integrated in the scenarioplanning process in order to improve the development of strategy.

An assessment of web-based textbook supplementary material to support student learning

There is an increasing trend by publishers to provide supplementary learning materials with text books in order to improve the learning experience and thus ultimately improve text book sales. This study will aim to establish the use of these materials and their relevance to students in terms of supporting student learning. The materials include multiple choice test banks, animated demonstrations, simulations, quizzes and electronic versions of the text. The study will focus on the extensive library of web-based learning materials available on the ‘WileyPlus’ web platform which accompanies the textbook ‘Operations Management’, 2nd edition authored by A. Greasley and published by John Wiley and Sons Ltd.

Engaging employers as partners in work-based learning assessment:proposal for a quality enhancement framework

This paper seeks to advance research and practice related to the role of employers in all stages of the assessment process of work-based learning (WBL) within a tripartite relationship of higher education institution (HEI), student and employer. It proposes a research-informed quality enhancement framework to develop good practice in engaging employers as partners in assessment. The Enhancement Framework comprises three dimensions, each of which includes elements and questions generated by the experiences of WBL students, HEI staff and employers. The three dimensions of the Enhancement Framework are: 1. ‘premises of assessment’ encompassing issues of learning, inclusion, standards and value; 2. ‘practice’, encompassing stages of assessment made up of course design, assessment task, responsibilities, support, grading and feedback; 3. ‘communication of assessment’ with the emphasis on role clarity, language and pathways. With its prompt questions, the Enhancement Framework may be used as a capacity-building tool for promoting, sustaining, benchmarking and evaluating productive dialogue and critical reflection about assessment between WBL partners. The paper concludes by emphasising the need for professional development as well as policy and research development, so that assessment in WBL can more closely correspond to the potentially transformative nature of the learning experience.

Credibility theory-based available transfer capability assessment

Since the development of large scale power grid interconnections and power markets, research on available transfer capability (ATC) has attracted great attention. The challenges for accurate assessment of ATC originate from the numerous uncertainties in electricity generation, transmission, distribution and utilization sectors. Power system uncertainties can be mainly described as two types: randomness and fuzziness. However, the traditional transmission reliability margin (TRM) approach only considers randomness. Based on credibility theory, this paper firstly built models of generators, transmission lines and loads according to their features of both randomness and fuzziness. Then a random fuzzy simulation is applied, along with a novel method proposed for ATC assessment, in which both randomness and fuzziness are considered. The bootstrap method and multi-core parallel computing technique are introduced to enhance the processing speed. By implementing simulation for the IEEE-30-bus system and a real-life system located in Northwest China, the viability of the models and the proposed method is verified.

Quality planning based on risk assessment

Product quality planning is a fundamental part of quality assurance in manufacturing. It is composed of the distribution of quality aims over each phase in product development and the deployment of quality operations and resources to accomplish these aims. This paper proposes a quality planning methodology based on risk assessment and the planning tasks of product development are translated into evaluation of risk priorities. Firstly, a comprehensive model for quality planning is developed to address the deficiencies of traditional quality function deployment (QFD) based quality planning. Secondly, a novel failure knowledge base (FKB) based method is discussed. Then a mathematical method and algorithm of risk assessment is presented for target decomposition, measure selection, and sequence optimization. Finally, the proposed methodology has been implemented in a web based prototype software system, QQ-Planning, to solve the problem of quality planning regarding the distribution of quality targets and the deployment of quality resources, in such a way that the product requirements are satisfied and the enterprise resources are highly utilized. © Springer-Verlag Berlin Heidelberg 2010.