The role of idea novelty and relatedness in nascent ventures

The study of venture idea characteristics and the contextual fit between venture ideas and individuals are key research goals in entrepreneurship (Davidsson, 2004). However, to date there has been limited scholarly attention given to these phenomena. Accordingly, this study aims to help fill the gap by investigating the importance of novelty and relatedness of venture ideas in entrepreneurial firms. On the premise that new venture creation is a process and that research should be focused on the early stages of the venturing process, this study primarily focuses its attention on examining how venture idea novelty and relatedness affect the performance in the venture creation process. Different types and degrees of novelty are considered here. Relatedness is shown to be based on individuals’ prior knowledge and resource endowment. Performance in the venture creation process is evaluated according to four possible outcomes: making progress, getting operational, being terminated and achieving positive cash flow. A theoretical model is developed demonstrating the relationship between these variables along with the investment of time and money. Several hypotheses are developed to be tested. Among them, it is hypothesised that novelty hinders short term performance in the venture creation process. On the other hand knowledge and resource relatedness are hypothesised to promote performance. An experimental study was required in order to understand how different types and degrees of novelty and relatedness of venture ideas affect the attractiveness of venture ideas in the eyes of experienced entrepreneurs. Thus, the empirical work in this thesis was based on two separate studies. In the first one, a conjoint analysis experiment was conducted on 32 experienced entrepreneurs in order to ascertain attitudinal preferences regarding venture idea attractiveness based on novelty, relatedness and potential financial gains. This helped to estimate utility values for different levels of different attributes of venture ideas and their relative importance in the attractiveness. The second study was a longitudinal investigation of how venture idea novelty and relatedness affect the performance in the venture creation process. The data for this study is from the Comprehensive Australian Study for Entrepreneurial Emergence (CAUSEE) project that has been established in order to explore the new venture creation process in Australia. CAUSEE collects data from a representative sample of over 30,000 households in Australia using random digit dialling (RDD) telephone interviews. From these cases, data was collected at two points in time during a 12 month period from 493 firms, who are currently involved in the start-up process. Hypotheses were tested and inferences were derived through descriptive statistics, confirmatory factor analysis and structural equation modelling. Results of study 1 indicate that venture idea characteristics have a role in the attractiveness and entrepreneurs prefer to introduce a moderate degree of novelty across all types of venture ideas concerned. Knowledge relatedness is demonstrated to be a more significant factor in attractiveness than resource relatedness. Results of study 2 show that the novelty hinders nascent venture performance. On the other hand, resource relatedness has a positive impact on performance unlike knowledge relatedness which has none. The results of these studies have important implications for potential entrepreneurs, investors, researchers, consultants etc. by developing a better understanding in the venture creation process and its success factors in terms of both theory and practice.

The Long-Term Irrelevance of Trust in Outsourcing Decisions for New Technologies: Insights from an Agent-Based Model

Significant empirical data from the fields of management and business strategy suggest that it is a good idea for a company to make in-house the components and processes underpinning a new technology. Other evidence suggests exactly the opposite, saying that firms would be better off buying components and processes from outside suppliers. One possible explanation for this lack of convergence is that earlier research in this area has overlooked two important aspects of the problem: reputation and trust. To gain insight into how these variables may impact make-buy decisions throughout the innovation process, the Sporas algorithm for measuring reputation was added to an existing agent-based model of how firms interact with each other throughout the development of new technologies. The model�s results suggest that reputation and trust do not play a significant role in the long-term fortunes of an individual firm as it contends with technological change in the marketplace. Accordingly, this model serves as a cue for management researchers to investigate more thoroughly the temporal limitations and contingencies that determine how the trust between firms may affect the R&D process.

A conceptual model for manufacturing performance improvement

Purpose: Important performance objectives manufacturers sought can be achieved through adopting the appropriate manufacturing practices. This paper presents a conceptual model proposing relationship between advanced quality practices, perceived manufacturing difficulties and manufacturing performances. Design/methodology/approach: A survey-based approach was adopted to test the hypotheses proposed in this study. The selection of research instruments for inclusion in this survey was based on literature review, the pilot case studies and relevant industrial experience of the author. A sample of 1000 manufacturers across Australia was randomly selected. Quality managers were requested to complete the questionnaire, as the task of dealing with the quality and reliability issues is a quality manager’s major responsibility. Findings: Evidence indicates that product quality and reliability is the main competitive factor for manufacturers. Design and manufacturing capability and on time delivery came second. Price is considered as the least important factor for the Australian manufacturers. Results show that collectively the advanced quality practices proposed in this study neutralize the difficulties manufacturers face and contribute to the most performance objectives of the manufacturers. The companies who have put more emphasize on the advanced quality practices have less problem in manufacturing and better performance in most manufacturing performance indices. The results validate the proposed conceptual model and lend credence to hypothesis that proposed relationship between quality practices, manufacturing difficulties and manufacturing performances. Practical implications: The model shown in this paper provides a simple yet highly effective approach to achieving significant improvements in product quality and manufacturing performance. This study introduces a relationship based ‘proactive’ quality management approach and provides great potential for managers and engineers to adopt the model in a wide range of manufacturing organisations. Originality/value: Traditional ways of checking product quality are different types of testing, inspection and screening out bad products after manufacturing them. In today’s manufacturing where product life cycle is very short, it is necessary to focus on not to manufacturing them first rather than screening out the bad ones. This study introduces, for the first time, the idea of relationship based advanced quality practices (AQP) and suggests AQPs will enable manufacturers to develop reliable products and minimize the manufacturing anomalies. This paper explores some of the attributes of AQP capable of reducing manufacturing difficulties and improving manufacturing performances. The proposed conceptual model contributes to the existing knowledge base of quality practices and subsequently provides impetus and guidance towards increasing manufacturing performance.

Towards a compendium of process technologies : the jBPT library for process model analysis

This paper presents the idea of a compendium of process technologies, i.e., a concise but comprehensive collection of techniques for process model analysis that support research on the design, execution, and evaluation of processes. The idea originated from observations on the evolution of process-related research disciplines. Based on these observations, we derive design goals for a compendium. Then, we present the jBPT library, which addresses these goals by means of an implementation of common analysis techniques in an open source codebase.

Business model experimentation : what is the role of deign-led prototyping in developing novel business models?

This book presents readers with the opportunity to fundamentally re-evaluate the processes of innovation and entrepreneurship, and to rethink how they might best be stimulated and fostered within our organizations and communities. The fundamental thesis of the book is that the entrepreneurial process is not a linear progression from novel idea to successful innovation, but is an iterative series of experiments, where progress depends on the persistence and resilience of the individuals involved, and their ability and to learn from failure as well as success. From this premise, the authors argue that the ideal environment for new venture creation is a form of “experimental laboratory,” a community of innovators where ideas are generated, shared, and refined; experiments are encouraged; and which in itself serves as a test environment for those ideas and experiments. This environment is quite different from the traditional “incubator,” which may impose the disciplines of the established firm too early in the development of the new venture.

Establishing a participatory library model: A Grounded Theory study

Purpose The purpose of this research is to explore the idea of the participatory library in higher education settings. This research aims to address the question, what is a participatory university library? Design/methodology/approach Grounded theory approach was adopted. In-depth individual interviews were conducted with two diverse groups of participants including ten library staff members and six library users. Data collection and analysis were carried out simultaneously and complied with Straussian grounded theory principles and techniques. Findings Three core categories representing the participatory library were found including “community”, “empowerment”, and “experience”. Each category was thoroughly delineated via sub-categories, properties, and dimensions that all together create a foundation for the participatory library. A participatory library model was also developed together with an explanation of model building blocks that provide a deeper understanding of the participatory library phenomenon. Research limitations The research focuses on a specific library system, i.e., academic libraries. Therefore, the research results may not be very applicable to public, special, and school library contexts. Originality/value This is the first empirical study developing a participatory library model. It provides librarians, library managers, researchers, library students, and the library community with a holistic picture of the contemporary library.

Courtyard housing as a subtropical urban design model

Through both theory and practice, this practice-based research develops and tests the idea that courtyard housing can deliver sustainable, compact housing in rapidly growing subtropical cities. It proposes a contemporary urban design model that incorporates urban design courtyard housing prototypes. These prototypes can be further developed by architects and urban designers for similar climatic conditions across the world.

Anomalous reaction-diffusion as a model of nonexponential DNA escape kinetics

We show that data from recent experiments carried out on the kinetics of DNA escape from alpha-hemolysin nanopores [M. Wiggin, C. Tropini, C. T. Cossa, N. N. Jetha, and A. Marziali, Biophys. J. 95, 5317 (2008)] may be rationalized by a model of chain dynamics based on the anomalous diffusion of a particle moving in a harmonic well in the presence of a delta function sink. The experiments of Wiggin found, among other things, that the occasional occurrence of unusually long escape times in the distribution of chain trapping events led to nonexponential decays in the survival probability, S(t), of the DNA molecules within the nanopore. Wiggin ascribed this nonexponentiality to the existence of a distribution of trapping potentials, which they suggested was theresult of stochastic interactions between the bases of the DNA and the amino acids located on the surface of the nanopore. Based on this idea, they showed that the experimentally determined S(t) could be well fit in both the short and long time regimes by a function of the form (1+t/tau)(-alpha) (the so called Becquerel function). In our model, S(t) is found to be given by a Mittag-Leffler function at short times and by a generalized Mittag-Leffler function at long times. By suitable choice of certain parameter values, these functions are found to fit the experimental S(t) even better than the Becquerel function. Anomalous diffusion of DNA within the trap prior to escape over a barrier of fixed height may therefore provide a second, plausible explanation of the data, and may offer fresh perspectives on similar trapping and escape problems.

A theoretical model for the magnetic helicity of solar active regions

Active regions on the solar surface are known to possess magnetic helicity, which is predominantly negative in the northern hemisphere and positive in the southern hemisphere. Choudhuri et al. [Choudhuri, A.R. On the connection between mean field dynamo theory and flux tubes. Solar Phys. 215, 31–55, 2003] proposed that the magnetic helicity arises due to the wrapping up of the poloidal field of the convection zone around rising flux tubes which form active regions. Choudhuri [Choudhuri, A.R., Chatterjee, P., Nandy, D. Helicity of solar active regions from a dynamo model. ApJ 615, L57–L60, 2004] used this idea to calculate magnetic helicity from their solar dynamo model. Apart from getting broad agreements with observational data, they also predict that the hemispheric helicity rule may be violated at the beginning of a solar cycle. Chatterjee et al. [Chatterjee, P., Choudhuri, A.R., Petrovay, K. Development of twist in an emerging magnetic flux tube by poloidal field accretion. A&A 449, 781–789, 2006] study the penetration of the wrapped poloidal field into the rising flux tube due to turbulent diffusion using a simple 1-d model. They find that the extent of penetration of the wrapped field will depend on how weak the magnetic field inside the rising flux tube becomes before its emergence. They conclude that more detailed observational data will throw light on the physical conditions of flux tubes just before their emergence to the photosphere.

Nash equilibrium based semantic cache in mobile sensor grid database systems

Mobile applications are being increasingly deployed on a massive scale in various mobile sensor grid database systems. With limited resources from the mobile devices, how to process the huge number of queries from mobile users with distributed sensor grid databases becomes a critical problem for such mobile systems. While the fundamental semantic cache technique has been investigated for query optimization in sensor grid database systems, the problem is still difficult due to the fact that more realistic multi-dimensional constraints have not been considered in existing methods. To solve the problem, a new semantic cache scheme is presented in this paper for location-dependent data queries in distributed sensor grid database systems. It considers multi-dimensional constraints or factors in a unified cost model architecture, determines the parameters of the cost model in the scheme by using the concept of Nash equilibrium from game theory, and makes semantic cache decisions from the established cost model. The scenarios of three factors of semantic, time and locations are investigated as special cases, which improve existing methods. Experiments are conducted to demonstrate the semantic cache scheme presented in this paper for distributed sensor grid database systems.

A density matrix renormalization group study of low-lying excitations of polythiophene within a Pariser-Parr-Pople model

Symmetrized density-matrix-renormalization-group calculations have been carried out, within Pariser-Parr-Pople Hamiltonian, to explore the nature of the ground and low-lying excited states of long polythiophene oligomers. We have exploited C-2 symmetry and spin parity of the system to obtain excited states of experimental interest, and studied the lowest dipole allowed excited state and lowest dipole forbidden two photon state, for different oligomer sizes. In the long system limit, the dipole allowed excited state always lies below the lowest dipole forbidden two-photon state which implies, by Kasha rule, that polythiophene fluoresces strongly. The lowest triplet state lies below two-photon state as usual in conjugated polymers. We have doped the system with a hole and an electron and obtained the charge excitation gap and the binding energy of the 1(1)B(u)(-) exciton. We have calculated the charge density of the ground, one-photon and two-photon states for the longer system size of 10 thiophene rings to characterize these states. We have studied bond order in these states to get an idea about the equilibrium excited state geometry of the system. We have also studied the charge density distribution of the singly and doubly doped polarons for longer system size, and observe that polythiophenes do not support bipolarons.

A Cache coherence protocol for MIN-based multiprocessors

In this paper we present a cache coherence protocol for multistage interconnection network (MIN)-based multiprocessors with two distinct private caches: private-blocks caches (PCache) containing blocks private to a process and shared-blocks caches (SCache) containing data accessible by all processes. The architecture is extended by a coherence control bus connecting all shared-block cache controllers. Timing problems due to variable transit delays through the MIN are dealt with by introducing Transient states in the proposed cache coherence protocol. The impact of the coherence protocol on system performance is evaluated through a performance study of three phases. Assuming homogeneity of all nodes, a single-node queuing model (phase 3) is developed to analyze system performance. This model is solved for processor and coherence bus utilizations using the mean value analysis (MVA) technique with shared-blocks steady state probabilities (phase 1) and communication delays (phase 2) as input parameters. The performance of our system is compared to that of a system with an equivalent-sized unified cache and with a multiprocessor implementing a directory-based coherence protocol. System performance measures are verified through simulation.

A new model for drainage of static foams

Existing theories of foam drainage assume bubbles as pentagonal dodecahedrons, though a close-packed structure built with cells of this shape is not space-filling. The present work develops a theory for calculating drainage rates based on the more realistic beta-tetrakaidecahedral shape for the bubbles. In contrast with the earlier works, three types of films, and Plateau borders had to be considered in view of the more complex shape used in the present work. The exchange of liquid between Plateau borders was treated in a way different From earlier theories, using the idea that the volume of junctions of Plateau borders is negligible. For foams made of large bubble sizes, the present model performs as well as the previous models, but when bubble size is small, its predictions of drainage rates from static foams are in better agreement with the experimental observations.

On an exact populationary model of genetic algorithms

Genetic algorithms (GAs) are search methods that are being employed in a multitude of applications with extremely large search spaces. Recently, there has been considerable interest among GA researchers in understanding and formalizing the working of GAs. In an earlier paper, we have introduced the notion of binomially distributed populations as the central idea behind an exact ''populationary'' model of the large-population dynamics of the GA operators for objective functions called ''functions of unitation.'' In this paper, we extend this populationary model of GA dynamics to a more general class of objective functions called functions of unitation variables. We generalize the notion of a binomially distributed population to a generalized binomially distributed population (GBDP). We show that the effects of selection, crossover, and mutation can be exactly modelled after decomposing the population into GBDPs. Based on this generalized model, we have implemented a GA simulator for functions of two unitation variables-GASIM 2, and the distributions predicted by GASIM 2 match with those obtained from actual GA runs. The generalized populationary model of GA dynamics not only presents a novel and natural way of interpreting the workings of GAs with large populations, but it also provides for an efficient implementation of the model as a GA simulator. (C) Elsevier Science Inc. 1997.

Role of feedback in mammalian vision: a new hypothesis and a computational model

This paper presents a novel hypothesis on the function of massive feedback pathways in mammalian visual systems. We propose that the cortical feature detectors compete not for the right to represent the output at a point, but for exclusive rights to abstract and represent part of the underlying input. Feedback can do this very naturally. A computational model that implements the above idea for the problem of line detection is presented and based on that we suggest a functional role for the thalamo-cortical loop during perception of lines. We show that the model successfully tackles the so called Cross problem. Based on some recent experimental results, we discuss the biological plausibility of our model. We also comment on the relevance of our hypothesis (on the role of feedback) to general sensory information processing and recognition. (C) 1998 Published by Elsevier Science Ltd. All rights reserved.