Neurofuzzy decision support system for efficient risk allocation in public-private partnership infrastructure projects

The performance of public-private partnership (PPP) infrastructure projects is largely contingent on whether the adopted risk allocation (RA) strategy is efficient. Theoretical frameworks drawing on the transaction cost economics and the resource-based view of organizational capability are able to explain the underlying mechanism but unable to accurately forecast efficient RA strategies. In this paper, a neurofuzzy decision support system (NFDSS) was developed to assist in the RA decision-making process in PPP projects. By combining fuzzy and neural network techniques, a synthesized fuzzy inference system was established and taken as the core component of the NFDSS. Evaluation results show that the NFDSS can forecast efficient RA strategies for PPP infrastructure projects at a highly accurate and effective level. A real PPP infrastructure project is used to demonstrate the NFDSS and its practical significance.

Formalizing the concept of entrepreneurial capacity

This study develops a definition of the concept of entrepreneurial capacity and formalizes it in two models explaining how value is created in the innovation process. The formalization integrates the influential opportunity-based definition of entrepreneurship research offered by Shane and Venkataraman (2000) with the consensus prevailing in the management, strategy, economics and entrepreneurship literatures that innovation is a process for transforming the inherent economic value of new knowledge into realized economic value for identified stakeholders. The linear flow and mathematical models presented in the study possess the clarity and richness required of a theoretical framework for generating and testing insightful hypotheses. This study, regarding Penrose (1959) more as theorist of entrepreneurship than of resources, deepens scepticism about the relevance to entrepreneurship of the literatures on the resource-based view of the firm (RBV) and dynamic capabilities (DC). Finally, the arguments and perspectives of the study imply several pedagogic possibilities and challenges for entrepreneurship educators.

Marketing planning : operationalising the market orientation strategy

Despite strong empirical validation of the relationship between market orientation and business performance, the literature is inconclusive on the implementation of the strategy. This paper reviews the implementation of market orientation, and investigates the associations between market orientation and marketing planning and their associations with business performance. A survey of 216 Australian larger business organisations was conducted to find evidence of these relationships. The results highlight a close association between market orientation and marketing planning, with virtually the same level of association between them, and the business performance measures used. This evidence suggests that they arguably represent the same domain. The results suggest that marketing practitioners may use the marketing planning technique as an intangible productive resource to operationalise the market orientation strategy, and use it to design a specific style and magnitude of market orientation suitable for an organisation.

Market fit and business performance : an empirical investigation

This paper argues that an organisation needs to be managed for its fit to its intended target market. Market fit is defined as the capability configuration of a firm moderated by the relevant factors in the external environment. It is conceptualised within the integrated dynamic resource-based view of the firm. The study is based on survey data collected from 216 larger Australian businesses. Drawing on the existing literature on the resource-based view of the firm (RBV), a model of market fit has been developed and tested empirically. The results of the study suggest that the intangible internal assets of marketing planning, decision-making process, and marketing strategy form the core capability configuration of an organisation and that the market fit measure associates positively with business performance indicators. The assertion is that while the internal intangible assets form the core capability of an organisation, this capability is influenced by the market dynamics that may alter its character, intensity, and effectiveness in relation to its intended business performance objectives.

Post global financial crisis international business strategies

International business strategies are affected by economic conditions, although the resource-based view would suggest that company resources are a more significant factor. This paper identifies differences in the international strategy behaviours of companies located in countries which, as a result of the GFC, entered either a deep recession, a shallow recession or no recession at all. Empirical evidence is provided for companies with home country markets with each of these conditions. The ability of international strategy theories to explain these behaviours is considered. Based on observations of international businesses with home country markets in each of these categories, it is suggested that determinants of international strategy during financial crises (and immediately after) are influenced by the strength of the home country market, foreign market government protectionist behaviour, international exchange rate variations and local levels of rivalry.

A practical approach to achieving agility : a theory of constraints perspective

This article documents an action research (AR) project aimed at identifying the practical steps needed to become an agile manufacturer through a combination of the theory of constraints (TOC) and resource- based view (RBV) approaches in a small to medium enterprise (SME) in the Australian manufacturing sector. To date, lean production has been highlighted as a possible catalyst for creating an agile manufacturer, despite the evidence suggesting that lean manufacturing lacks the responsiveness and adaptability to effectively handle a rapidly changing market place and only works well in a stable environment. A more flexible system of production is required to fully encompass the agile characteristics needed to attain a competitive advantage. This research provides empirical evidence that the TOC perspective can be used as a practical approach for becoming an agile manufacturer. The study provides a workable approach for small firms to achieve ‘Agility’ in practice.

Are Chinese firms innovative or imitative?

In recent time, many Chinese firms have not only operated quite successfully at their home front, competing with those giant multinational companies inside China, they are also moving offshore. The short internationalisation process of Chinese firms looks both sudden and unexpected, causing many to wonder the success factors for Chinese firms. A dynamic innovation that combines strategic, organisational, cost as well as technological change was believed to have contributed to the fast growing Chinese firms in the global stage. This paper reviews the literature related to these areas of innovation. It also discusses reasons for firms to innovate or imitate, using institutional perspective and resource-based view (RBV). Intertwined with these discuss ion, empirical studies of innovative performance among Chinese firms are also analysed. The results show that in fact most Chinese firms still follow an imitative strategy, but there is a clear evidence of strategic cost innovation widely practiced among Chinese firms.

What drives technology innovation among the emerging Chinese enterprises?

In the light of rapid development of technology/knowledge intensive firms arising from the emerging economy of China in recent time, this paper is aimed at developing an analytical framework, based on the institutional theory and resource-based view, to evaluate the drivers and antecedents of technology innovation among Chinese emerging multinational enterprises (MNEs). Use of case study approach, the study examined two large Chinese enterprises in Wuhan and found that a linear sequential pattern of technology innovation did not apply. In contrast, two enterprises investigated tended to combine several types of innovation (strategic cost, organisational and operational innovation) to manage their internal capabilities and other organisational activities and routines to change, learn, adapt and create technology innovation. Our finding in this study also suggests that the key factor for Chinese firms to be innovative is more internally driven by several human resource management strategies that helped build technological capabilities effectively. Main implications of this study are that organisational human resource managers, technology and system designers should work together to design and develop enterprise management systems conducive to enhance both technology and human creativity for emerging Chinese multinational enterprises.

Strategic marketing of educational institutions

Strategy development in higher education (HE) institutions has not been investigated a great extent. To address this issue, this study reports on the first stage of a larger investigation of strategy development in HE. The theoretical background draws on two theories of strategy and competitive advantage, namely, industrial organisation (IO) and resource-based view (RBV). These are used to guide 32 in-depth interviews that explore the elements of external industry structure, internal resources and capabilities, and institutional performance with senior HE decision-makers. Factors of competitive advantage and the indicators of institutional performance identified in the study verify and further develop the limited understanding relating to strategic marketing of educational institutions.

The impact of strategy on business analytics success

Business analytics systems are an important strategic investment for many organisations and can potentially contribute significantly to firm performance. In this paper we develop a theoretical model, based on the resource-based view, that explains how business analytics capabilities lead to benefits. We argue that the type of strategy, represented as enterprise architecture, moderates the benefits achieved. Two case studies are then presented, each with a different type of strategy, and we explain how and why benefits were achieved from business analytics systems in each. We then identify the similarities and differences between the two case studies and discuss these using five dimensions that emerge from the case studies: strategic alignment, governance, people, organizational culture and data and technology infrastructure.

Towards a business analytics capability maturity model

Business analytics (BA) systems are an important strategic investment for many organisations and can potentially contribute significantly to firm performance. Establishing strong BA capabilities is currently one of the major concerns of chief information officers. This research project aims to develop a BA capability maturity model (BACMM). The BACMM will help organisations to scope and evaluate their BA initiatives. This research-in-progress paper describes the current BACMM, relates it to existing capability maturity models and explains its theoretical base. It also discusses the design science research approach being used to develop the BACMM and provides details of further work within the research project. Finally, the paper concludes with a discussion of how the BACMM might be used in practice.

Retail brand orientation, positional advantage and organisational performance

This study adopts a resource-based view of branding referred to as brand orientation. Despite the importance of branding in retail, relatively little empirical research has been conducted to understand the degree to which retailers can be considered brand oriented. The purpose of the present research is to establish a conceptualisation of brand orientation that is applicable in a retail context across countries. Moreover, we seek to empirically validate a model of the retail brand orientation–positional advantage–organisational performance relationship and to contribute to a more comprehensive understanding of the factors driving retailer performance. A mail survey was used to collect data from retail firms in Australia, USA and UK. The unit of analysis is the retail firm. Confirmatory factor analysis was employed to assess the measurement properties of the study constructs and structural equation modelling was performed to test the research model. The findings suggest that four elements of retail brand orientation (functionality, distinctiveness, augmentation and symbolism) play different roles in relation to certain aspects of positional advantage, which highlights the importance of developing strength in all four areas. Similarly, a position of superiority in only one aspect of a retailer's offer is insufficient to assure both financial and strategic returns.

Theoretical contexts of managing people in emerging Chinese multinational enterprises

 This article aims at reviewing existing theories relevant to human resource management (HRM) and providing theoretical contexts to explain the importance of managing people across borders for emerging Chinese multinational enterprises (MNEs).

The inner circle of technology innovation : a case study of two Chinese firms

In the era of information economy, Chinese firms have realised that technology innovation is fundamental for organisations to gain competitive advantages in the global market. This case study evaluates the drivers and antecedents of technology innovation of two emerging Chinese multinational firms. Institutional theory, the resource-based view and the competency-based strategic perspective are used as the basis for case analysis. The findings show some similarities and differences between the growth of Chinese multinational firms and those of more traditional ones. Chinese firms appear not to follow single innovation pathways but take multiple routes combining several types of innovation, such as strategic, organisational and operational innovation. The key component in the successful technology innovation process among Chinese firms was found to be in alignment with several human resource management strategies. The case study concludes with discussion on managerial and pedagogical implications. These help address inherent differences in the innovation management process between emerging Chinese and established multinational firms.