Do balanced skills help nascent entrepreneurs to make progress in the venture creation process?

We apply Lazear’s jack-of-all-trades theory to investigate the effect of nascent entrepreneurs´ balanced skill set across various functional areas on the performance of nascent projects. Analyzing longitudinal data on innovative nascent projects, we find that nascent entrepreneurs with a more balanced skill set are more successful in that they progress faster in the venture creation process.

Balanced skills among nascent entrepreneurs

This paper examines the effects and origins of balanced skills among nascent entrepreneurs. In a first step we apply Lazear’s jack-of-all-trades theory to investigate performance effects of a balanced skill set. Second, we investigate potential sources of balanced skills, thereby testing the investment hypothesis against the endowment hypothesis. Analyzing data on high-potential nascent projects, we find support for the notion that balanced skills are important for making progress in the venture creation process. Regarding the origins of balanced skills, the data support both hypotheses. In line with the investment hypothesis an early interest in an entrepreneurial career, prior managerial and entrepreneurial experience are significantly related with a more balanced skill set. Supporting the endowment hypothesis, an entrepreneurial personality profile indicating entrepreneurial talent is correlated with a balanced skill set. Our results thus hint at the need for theories on the origins of a balanced skill set that integrate both views.

ACE research vignette 016 : balanced skills - effects and origins

This series of research vignettes is aimed at sharing current and interesting research findings from our team of international Entrepreneurship researchers. In this vignette, post-doctoral research fellow Dr Michael Stuetzer considers the effects and origins of balanced skills.

Do balanced skills help nascent entrepreneurs to make progress in the venture creation process?

We analyze longitudinal data on innovative start-up projects and apply Lazear’s jack-of-all-trades theory to investigate the effect of nascent entrepreneurs’ balanced skills on their progress in the venture creation process. Our results suggest that those nascent entrepreneurs who exhibit a sufficiently broad set of skills undertake more gestation activities towards an operational new venture. This supports the notion that a balanced skill set is an important determinant of entrepreneurial market entry.

Balanced skills among nascent entrepreneurs

This paper examines the effects and origins of balanced skills among nascent entrepreneurs. In a first step we apply Lazear’s jack-of-all-trades theory to investigate performance effects of a balanced skill set. Second, we investigate potential sources of balanced skills, thereby testing the investment hypothesis against the endowment hypothesis. Analyzing data on high-potential nascent projects, we find support for the notion that balanced skills are important for making progress in the venture creation process. Regarding the origins of balanced skills, the data support both hypotheses. In line with the investment hypothesis an early interest in an entrepreneurial career, prior managerial and entrepreneurial experience are significantly related with a more balanced skill set. Supporting the endowment hypothesis, an entrepreneurial personality profile indicating entrepreneurial talent is correlated with a balanced skill set. Our results thus hint at the need for theories on the origins of a balanced skill set that integrate both views.

On being balanced in an unbalanced world

This paper examines the case of a procurement auction for a single project, in which the breakdown of the winning bid into its component items determines the value of payments subsequently made to bidder as the work progresses. Unbalanced bidding, or bid skewing, involves the uneven distribution of mark-up among the component items in such a way as to attempt to derive increased benefit to the unbalancer but without involving any change in the total bid. One form of unbalanced bidding for example, termed Front Loading (FL), is thought to be widespread in practice. This involves overpricing the work items that occur early in the project and underpricing the work items that occur later in the project in order to enhance the bidder's cash flow. Naturally, auctioners attempt to protect themselves from the effects of unbalancing—typically reserving the right to reject a bid that has been detected as unbalanced. As a result, models have been developed to both unbalance bids and detect unbalanced bids but virtually nothing is known of their use, success or otherwise. This is of particular concern for the detection methods as, without testing, there is no way of knowing the extent to which unbalanced bids are remaining undetected or balanced bids are being falsely detected as unbalanced. This paper reports on a simulation study aimed at demonstrating the likely effects of unbalanced bid detection models in a deterministic environment involving FL unbalancing in a Texas DOT detection setting, in which bids are deemed to be unbalanced if an item exceeds a maximum (or fails to reach a minimum) ‘cut-off’ value determined by the Texas method. A proportion of bids are automatically and maximally unbalanced over a long series of simulated contract projects and the profits and detection rates of both the balancers and unbalancers are compared. The results show that, as expected, the balanced bids are often incorrectly detected as unbalanced, with the rate of (mis)detection increasing with the proportion of FL bidders in the auction. It is also shown that, while the profit for balanced bidders remains the same irrespective of the number of FL bidders involved, the FL bidder's profit increases with the greater proportion of FL bidders present in the auction. Sensitivity tests show the results to be generally robust, with (mis)detection rates increasing further when there are fewer bidders in the auction and when more data are averaged to determine the baseline value, but being smaller or larger with increased cut-off values and increased cost and estimate variability depending on the number of FL bidders involved. The FL bidder's expected benefit from unbalancing, on the other hand, increases, when there are fewer bidders in the auction. It also increases when the cut-off rate and discount rate is increased, when there is less variability in the costs and their estimates, and when less data are used in setting the baseline values.

Developing a framework for subcontractor appraisal using a balanced scorecard

Subcontractors contribute significantly to construction projects and their performance can seriously affect over-all project success. It is crucial, therefore, to appraise the performance of subcontractors to ensure they satisfy the client's expectations and project requirements. To increase the transparency and accuracy of subcontractor appraisal, the baseline and target performance levels should be set at the outset so that the appraisers and those being appraised realize exactly what standards are to be achieved. The balanced scorecard, being a powerful tool for performance appraisal, offers a potentially good approach for modeling the subcontractor appraisal process. In this paper, an approach to developing a balanced scorecard subcontractor appraisal model is proposed and demonstrated through a questionnaire survey administered in Hong Kong and from which the baseline and target performance levels for large-scale skilled subcontractors are identified. A case example is used to illustrate the operation of the model. Finally, a means by which the model may be validated is demonstrated through the use of field experts. The results demonstrate the feasibility of developing a balanced scorecard model that can help improve the transparency of subcontractor appraisal despite the baseline and target performance levels changing according to the project characteristics, subcontractor categories and size.

Charge transport and density of trap states in balanced high mobility ambipolar organic thin-film transistors

We report on charge transport and density of trap states (trap DOS) in ambipolar diketopyrrolopyrrole-benzothiadiazole copolymer thin-film transistors. This semiconductor possesses high electron and hole field-effect mobilities of up to 0.6 cm 2/V-s. Temperature and gate-bias dependent field-effect mobility measurements are employed to extract the activation energies and trap DOS to understand its unique high mobility balanced ambipolar charge transport properties. The symmetry between the electron and hole transport characteristics, parameters and activation energies is remarkable. We believe that our work is the first charge transport study of an ambipolar organic/polymer based field-effect transistor with room temperature mobility higher than 0.1 cm 2/V-s in both electrons and holes.

Board monitoring and the balanced scorecard in nonprofits : challenges in realising potential

Directors of nonprofits in most countries have legal responsibility for monitoring organisational performance (Brody 2010), although there is typically little guidance on how this should occur. The balanced scorecard (BSC) (Kaplan & Norton, 1996, 2001) potentially provides boards with a monitoring tool (Kaplan $ Norton, 2006; Lorsch, 2002). The BSC is intended to help integrate performance measurement, performance management and strategy implmentation (Kaplan 2009). The scorecards is balanced in that it should incorporate both financial and non-financial measures, external and internal perspectives, short and long-term objectives and both lagging and leading indicators. It is a relatively simple tool, but with potentially profound implications for directing board attention and sbusequent action (Ocasio, 1997; Salterio, 2012).

Transparent, balanced and vigorous: The exercise of the Australian Privacy Commissioner's powers in relation to National Privacy Principle 4

This thesis considers whether the Australian Privacy Commissioner's use of its powers supports compliance with the requirement to 'take reasonable steps' to protect personal information in National Privacy Principle 4 of the Privacy Act 1988 (Cth). Two unique lenses were used. First, the Commissioner's use of powers was assessed against the principles of transparency, balance and vigorousness and secondly against alignment with an industry practice approach to securing information. Following a comprehensive review of publicly available materials, interviews and investigation file records, this thesis found that the Commissioner's use of his powers has not been transparent, balanced or vigorous, nor has it been supportive of an industry practice approach to securing data. Accordingly, it concludes that the Privacy Commissioner's use of its regulatory powers is unlikely to result in any significant improvement to the security of personal information held by organisations in Australia.

Treatment of distal intestinal obstruction syndrome in cystic fibrosis with a balanced intestinal lavage solution

Conventional treatment of distal intestinal obstruction syndrome (DIOS) with high doses of pancreatic enzymes, mucolytic agents, and enemas is neither predictably effective nor rapid in action. In 6 cystic fibrosis patients with DIOS a balanced, non-absorbable intestinal lavage solution produced clinical and radiological improvement and striking improvement in DIOS scores. It is suggested that a balanced intestinal lavage solution should be considered as an alternative treatment for DIOS in patients with cystic fibrosis.

R-parameter: A local truncation error based adaptive framework for finite volume compressible flow solvers

A residual-based strategy to estimate the local truncation error in a finite volume framework for steady compressible flows is proposed. This estimator, referred to as the -parameter, is derived from the imbalance arising from the use of an exact operator on the numerical solution for conservation laws. The behaviour of the residual estimator for linear and non-linear hyperbolic problems is systematically analysed. The relationship of the residual to the global error is also studied. The -parameter is used to derive a target length scale and consequently devise a suitable criterion for refinement/derefinement. This strategy, devoid of any user-defined parameters, is validated using two standard test cases involving smooth flows. A hybrid adaptive strategy based on both the error indicators and the -parameter, for flows involving shocks is also developed. Numerical studies on several compressible flow cases show that the adaptive algorithm performs excellently well in both two and three dimensions.

Knowledge discovery from tree databases using balanced optimal search

This research is a step forward in discovering knowledge from databases of complex structure like tree or graph. Several data mining algorithms are developed based on a novel representation called Balanced Optimal Search for extracting implicit, unknown and potentially useful information like patterns, similarities and various relationships from tree data, which are also proved to be advantageous in analysing big data. This thesis focuses on analysing unordered tree data, which is robust to data inconsistency, irregularity and swift information changes, hence, in the era of big data it becomes a popular and widely used data model.