The innovation value chain in new technology based firms:evidence from the UK

We present the first innovation value chain analysis for a representative sample of new technology based firms (NTBFs) in the UK. This involves determining which factors lead to the usage of different knowledge sources and the relationships that exist between those sources of knowledge; the effect that each knowledge source has on innovative activity; and how innovation outputs affect the performance of NTBFs. We find that internal and external knowledge sources are complementary for NTBFs, and that supply chain linkages have both a direct and indirect effect on innovation. NTBFs’ skill resources matter throughout the innovation value chain, being positively associated with external knowledge linkages and innovation success, and also having a direct effect on growth independent of the effect on innovation. Exporting matters for performance, but not through any effect on innovation.

Evaluating corporate performance:a critique of economic value added

There has been a revival of interest in economic techniques to measure the value of a firm through the use of economic value added as a technique for measuring such value to shareholders. This technique, based upon the concept of economic value equating to total value, is founded upon the assumptions of classical liberal economic theory. Such techniques have been subject to criticism both from the point of view of the level of adjustment to published accounts needed to make the technique work and from the point of view of the validity of such techniques in actually measuring value in a meaningful context. This paper critiques economic value added techniques as a means of calculating changes in shareholder value, contrasting such techniques with more traditional techniques of measuring value added. It uses the company Severn Trent plc as an actual example in order to evaluate and contrast the techniques in action. The paper demonstrates discrepancies between the calculated results from using economic value added analysis and those reported using conventional accounting measures. It considers the merits of the respective techniques in explaining shareholder and managerial behaviour and the problems with using such techniques in considering the wider stakeholder concept of value. It concludes that this economic value added technique has merits when compared with traditional accounting measures of performance but that it does not provide the universal panacea claimed by its proponents.

E-business planning and analysis framework

This chapter reports on a framework that has been successfully used to analyze the e-business capabilities of an organization with a view to developing their e-capability maturity levels. This should be the first stage of any systems development project. The framework has been used widely within start-up companies and well-established companies both large and small; it has been deployed in the service and manufacturing sectors. It has been applied by practitioners and consultants to help improve e-business capability levels, and by academics for teaching and research purposes at graduate and undergraduate levels. This chapter will provide an account of the unique e-business planning and analysis framework (E-PAF) and demonstrate how it works via an abridged version of a case study (selected from hundreds that have been produced). This will include a brief account of the three techniques that are integrated to form the analysis framework: quality function deployment (QFD) (Akao, 1972), the balanced scorecard (BSC) (Kaplan & Norton, 1992), and value chain analysis (VCA) (Porter, 1985). The case study extract is based on an online community and dating agency service identified as VirtualCom which has been produced through a consulting assignment with the founding directors of that company and has not been published previously. It has been chosen because it gives a concise, comprehensive example from an industry that is relatively easy to relate to.

Development and application of an electronic-manufacturing selection framework for SMEs

With a wide diversity of available technologies, it is extremely problematic for SMEs to identify, plan, prioritize and use the correct strategy. Electronic-manufacturing has been evolving for some time, but currently an effective planning framework to assist managers with implementing electronic-manufacturing planning is still lacking. A framework, built around three elements: the Balanced Scorecard, Quality Function Deployment and Value Chain Analysis, is proposed here to assist SMEs in managing complexity in e-manufacturing planning. A case study, carried out in Singapore, demonstrates the practicality and utility of the framework in the context of a real business environment. © World Scientific Publishing Company.

Development of an e-business selection framework for manufacturing SMEs : a study of the printing industry

The aim of the research is to develop an e-business selection framework for small and medium enterprises (SMEs) by integrating established techniques in planning. The research is case based, comprising four case studies carried out in the printing industry for the purpose of evaluating the framework. Two of the companies are from Singapore, while the other two are from Guangzhou, China and Jinan, China respectively. To determine the need of an e-business selection framework for SMEs, extensive literature reviews were carried out in the area of e-business, business planning frameworks, SMEs and the printing industry. An e-business selection framework is then proposed by integrating the three established techniques of the Balanced Scorecard (BSC), Value Chain Analysis (VCA) and Quality Function Deployment (QFD). The newly developed selection framework is pilot tested using a published case study before actual evaluation is carried out in four case study companies. The case study methodology was chosen because of its ability to integrate diverse data collection techniques required to generate the BSC, VCA and QFD for the selection framework. The findings of the case studies revealed that the three techniques of BSC, VCA and QFD can be integrated seamlessly to complement on each other’s strengths in e-business planning. The eight-step methodology of the selection framework can provide SMEs with a step-by-step approach to e-business through structured planning. Also, the project has also provided better understanding and deeper insights into SMEs in the printing industry.

Strategic planning in a decentralised industrial group : a process-action study

The research was carried out within a major public company. It sought to implement an approach to strategic planning which accounted for organisational values as well as employing a holistic value-free analysis of the firm and its environment. To this end, an 'ecological' model of the firm was formulated. A series of value-free strategic policies for its development were generated. These policies were validated by the company's top-management.They compared favourably with their own planning outcomes. The approach appeared to be diagnostically strong but lacked sufficient depth in the context of finding realistic corrective measures. However, feedback from the company showed it to be a useful complementary process to conventional procedures, in providing an explicitly different perspective. The research empirically evaluated the company's value-systems and their influence on strategy. It introduced the idea of an organisational 'self-concept' pre-determining the acceptability of various strategies.The values and the "self-concept' of the company were identified and validated, They appeared to have considerable influence on strategy. In addition, tho company's planning process within the decentralised structure was shown to be sub-optimal. This resulted from the variety of value systems maintained by different parts of the organisation. Proposals attempting to redress this situation were ofJered and several accepted. The study was postured as process-action research and the chosen perspective could be succinctly described as a 'worm's-eye view', akin to that of many real planners operating at some distance from the decision-making body. In this way, the normal strategic functionings of the firm and any changes resulting from the researcher's intervention were observed and recorded. Recurrent difficulties of the planning process resulting from the decentralised structure were identified. The overall procedure suggested as a result of the research aimed to increase the viabiIity of planning and the efficiency of the process. It is considered to be flexible enough to be applicable in a broader context.

The Aston Medication Adherence Study:mapping the adherence patterns of an inner-city population

Background: The Aston Medication Adherence Study was designed to examine non-adherence to prescribed medicines within an inner-city population using general practice (GP) prescribing data. Objective: To examine non-adherence patterns to prescribed oralmedications within three chronic disease states and to compare differences in adherence levels between various patient groups to assist the routine identification of low adherence amongst patients within the Heart of Birmingham teaching Primary Care Trust (HoBtPCT). Setting: Patients within the area covered by HoBtPCT (England) prescribed medication for dyslipidaemia, type-2 diabetes and hypothyroidism, between 2000 and 2010 inclusively. HoBtPCT's population was disproportionately young,with seventy per cent of residents fromBlack and Minority Ethnic groups. Method: Systematic computational analysis of all medication issue data from 76 GP surgeries dichotomised patients into two groups (adherent and non-adherent) for each pharmacotherapeutic agent within the treatment groups. Dichotomised groupings were further analysed by recorded patient demographics to identify predictors of lower adherence levels. Results were compared to an analysis of a self-reportmeasure of adherence [using the Modified Morisky Scale© (MMAS-8)] and clinical value data (cholesterol values) from GP surgery records. Main outcome: Adherence levels for different patient demographics, for patients within specific longterm treatment groups. Results: Analysis within all three groups showed that for patients with the following characteristics, adherence levels were statistically lower than for others; patients: younger than 60 years of age; whose religion is coded as "Islam"; whose ethnicity is coded as one of the Asian groupings or as "Caribbean", "Other Black" and "African"; whose primary language is coded as "Urdu" or "Bengali"; and whose postcodes indicate that they live within the most socioeconomically deprived areas of HoBtPCT. Statistically significant correlations between adherence status and results from the selfreport measure of adherence and of clinical value data analysis were found. Conclusion: Using data fromGP prescribing systems, a computerised tool to calculate individual adherence levels for oral pharmacotherapy for the treatment of diabetes, dyslipidaemia and hypothyroidism has been developed.The tool has been used to establish nonadherence levels within the three treatment groups and the demographic characteristics indicative of lower adherence levels, which in turn will enable the targeting of interventional support within HoBtPCT. © Koninklijke Nederlandse Maatschappij ter bevordering der Pharmacie 2013.

Knowledge sources, innovative activity and the performance of UK new technology based firms

We present an innovation value chain analysis for a representative sample of new technology based firms (NTBFs) in the UK. This involves determining which factors lead to the usage of different knowledge sources and the relationships that exist between those sources of knowledge; the effect that each knowledge source has on innovative activity; and how innovation outputs affect the performance of NTBFs. We find that internal (i.e. R&D) and external knowledge sources are complementary for NTBFs, and that supply chain linkages have both a direct and indirect effect on innovation. NTBFs' skill resources matter throughout the innovation value chain, being positively associated with external knowledge linkages and innovation success, and also having a direct effect on growth independent of the effect on innovation. ©2010 IEEE.

Knowledge sources, innovative activity and the performance of UK new technology based firms

We present an innovation value chain analysis for a representative sample of new technology based firms (NTBFs) in the UK. This involves determining which factors lead to the usage of different knowledge sources and the relationships that exist between those sources of knowledge; the effect that each knowledge source has on innovative activity; and how innovation outputs affect the performance of NTBFs. We find that internal (i.e. R&D) and external knowledge sources are complementary for NTBFs, and that supply chain linkages have both a direct and indirect effect on innovation. NTBFs' skill resources matter throughout the innovation value chain, being positively associated with external knowledge linkages and innovation success, and also having a direct effect on growth independent of the effect on innovation. ©2010 IEEE.

A comparative analysis of cultural value orientations of Indians and migrant Indians in the USA

Understanding the cultural value systems of nations is a key factor in anticipating the behaviour of business managers and employees in a specific business environment. Many research studies have acknowledged the impact of culture on communication across nations and its impact on business operations, however no study has attempted to measure and quantify the cultural orientations of people originating from one nation, but working in two different national settings. This study adopted Kluckhohn and Strodtbeck's framework to examine cultural dimensions of a total of 580 Indian respondents comprising two groups: 429 Indian natives living and working in India and 151 Indian migrants living and working in the USA. It initially compares the cultural orientations of the total population of each of the two groups and then examines cultural differences in the same based on demographic characteristics consisting of occupation, gender, age, and level of education. The study found significant cultural value differences between the two groups on both levels of analysis. The theoretical and practical implications of these findings are discussed in detail.

Cultural value systems of East European countries:a gender based analysis

This study examines the cultural value systems of employees working in major industrial and commercial centers of six ex-communist Central and Eastern European countries (CEEC) and the former Soviet Republics (FSR). The study throws light on how human resources are managed in these countries and has key messages for overseas operators who are already doing business or planning to start on in these countries.

Consumer brand equity : a model for the measurement, analysis and evaluation of consumer perceived value

The topic of my research is consumer brand equity (CBE). My thesis is that the success or otherwise of a brand is better viewed from the consumers’ perspective. I specifically focus on consumers as a unique group of stakeholders whose involvement with brands is crucial to the overall success of branding strategy. To this end, this research examines the constellation of ideas on brand equity that have hitherto been offered by various scholars. Through a systematic integration of the concepts and practices identified but these scholars (concepts and practices such as: competitiveness, consumer searching, consumer behaviour, brand image, brand relevance, consumer perceived value, etc.), this research identifies CBE as a construct that is shaped, directed and made valuable by the beliefs, attitudes and the subjective preferences of consumers. This is done by examining the criteria on the basis of which the consumers evaluate brands and make brand purchase decisions. Understanding the criteria by which consumers evaluate brands is crucial for several reasons. First, as the basis upon which consumers select brands changes with consumption norms and technology, understanding the consumer choice process will help in formulating branding strategy. Secondly, an understanding of these criteria will help in formulating a creative and innovative agenda for ‘new brand’ propositions. Thirdly, it will also influence firms’ ability to simulate and mould the plasticity of demand for existing brands. In examining these three issues, this thesis presents a comprehensive account of CBE. This is because the first issue raised in the preceding paragraph deals with the content of CBE. The second issue addresses the problem of how to develop a reliable and valid measuring instrument for CBE. The third issue examines the structural and statistical relationships between the factors of CBE and the consequences of CBE on consumer perceived value (CPV). Using LISREL-SIMPLIS 8.30, the study finds direct and significant influential links between consumer brand equity and consumer value perception.

A comparative analysis of cultural value orientations of Polish and Turkish employees:implications for international human resource management

This study empirically compares and contrasts the cultural value orientations of employees from Poland and Turkey by testing the compatibility of their values in three stages through seven cultural dimensions. The first phase of the study deals with the assessment of inter-country cultural value differences; the second phase investigates the intra-country cultural dynamics between selected demographic groups; and the third phase examines the inter-country cultural differences among the selected demographic groups of employees. The research has been conducted adopting the Maznevski, DiStephano, and Nason's (1995) version of cultural perspectives questionnaire with a sample of 744 (548 Polish and 196 Turkish) respondents. The results show significant cultural differences between Poland and Turkey, a presence of cultural dynamics among certain demographic groups within the country, and a mixture of convergence and divergence in the value systems of certain demographic groups both within and between the two nation(s). The research findings convey important messages to international human resource strategists in order for them to employ an effective and rational employment policy and business negotiation approach(es) to effectively operate in these countries. It also highlights that diversity of cultural values not only requires viewing each of them through cultural dimensions at a macro-level with a cross-country reference, but also requires monitoring their dynamics at the micro-level with reference to controlled demographic groups. © 2013 Taylor & Francis.

The value of risk reporting:a critical analysis of value-at-risk disclosures in the banking sector

This paper critically reviews the evolution of financial reporting in the banking sector with specific reference to the reporting of market risk and the growing use of the measure known as Value at Risk (VaR). The paper investigates the process by which VaR became 'institutionalised'. The analysis highlights a number of inherent limitations of VaR as a risk measure and questions the usefulness of published VaR disclosures, concluding that risk 'disclosure' might be more apparent than real. It also looks at some of the implications for risk reporting practice and the accounting profession more generally.