From bust to boom : towards a strategic cognition perspective on Australian mining firms’ adaption

While the role of executives’ cognition in organisations’ responses to change is a central topic in strategic cognition research, changes in firms’ environment are typically not measured directly but described either as an event (for example, new industry legislation) or represented by a time period (e.g. when a new technology impacted an industry). The Australian mining sector has witnessed a historically significant change in demand for its products and we begin by developing measures of changes in supply and demand for key commodities during the period 1992-2008. We identify sub-groups of firms based on their activities and commodity sector and examine the relation of these variables to executives’ cognition and to firms’ CapEx. We find industry, firm and cognitive variables are related to both strategic cognition and firms’ CapEx.

Strategic project evaluation for open pit mining ventures using real options and allied econometric techniques

Open pit mine operations are complex businesses that demand a constant assessment of risk. This is because the value of a mine project is typically influenced by many underlying economic and physical uncertainties, such as metal prices, metal grades, costs, schedules, quantities, and environmental issues, among others, which are not known with much certainty at the beginning of the project. Hence, mining projects present a considerable challenge to those involved in associated investment decisions, such as the owners of the mine and other stakeholders. In general terms, when an option exists to acquire a new or operating mining project, , the owners and stock holders of the mine project need to know the value of the mining project, which is the fundamental criterion for making final decisions about going ahead with the venture capital. However, obtaining the mine project’s value is not an easy task. The reason for this is that sophisticated valuation and mine optimisation techniques, which combine advanced theories in geostatistics, statistics, engineering, economics and finance, among others, need to be used by the mine analyst or mine planner in order to assess and quantify the existing uncertainty and, consequently, the risk involved in the project investment. Furthermore, current valuation and mine optimisation techniques do not complement each other. That is valuation techniques based on real options (RO) analysis assume an expected (constant) metal grade and ore tonnage during a specified period, while mine optimisation (MO) techniques assume expected (constant) metal prices and mining costs. These assumptions are not totally correct since both sources of uncertainty—that of the orebody (metal grade and reserves of mineral), and that about the future behaviour of metal prices and mining costs—are the ones that have great impact on the value of any mining project. Consequently, the key objective of this thesis is twofold. The first objective consists of analysing and understanding the main sources of uncertainty in an open pit mining project, such as the orebody (in situ metal grade), mining costs and metal price uncertainties, and their effect on the final project value. The second objective consists of breaking down the wall of isolation between economic valuation and mine optimisation techniques in order to generate a novel open pit mine evaluation framework called the ―Integrated Valuation / Optimisation Framework (IVOF)‖. One important characteristic of this new framework is that it incorporates the RO and MO valuation techniques into a single integrated process that quantifies and describes uncertainty and risk in a mine project evaluation process, giving a more realistic estimate of the project’s value. To achieve this, novel and advanced engineering and econometric methods are used to integrate financial and geological uncertainty into dynamic risk forecasting measures. The proposed mine valuation/optimisation technique is then applied to a real gold disseminated open pit mine deposit to estimate its value in the face of orebody, mining costs and metal price uncertainties.

How can design methodologies build strategic renewal in SMEs?

Many firms develop successful businesses around competencies and over time these competencies can become core rigidities and barriers to new ways of working. This paper investigates how firms respond to a design innovation program apply design methodologies to their business. Early findings from a study of companies engaged in a design innovation program indicate that applying design principles to multiple aspects of their business provides a new strategic focus, tools for a better understanding of their business and the marketplace, new economic activity, awareness of the need for an innovative culture and strategic renewal.

DMO governance : reflections from a former marketing team

The paper provides an academic/practitioner collaborative reflection on the governance structure of a prominent New Zealand regional tourism organisation (RTO). The purpose is to address one of the neglected areas of tourism governance research; which is ‘Who’ governs the destination? The paper discusses the evolution of a public-private governance structure from the perspective of three former senior staff members. The authors were employed during a period of radical organisational change in the administration of the marketing of Rotorua, one of New Zealand’s leading resort destinations. The paper uses archival analysis and personal reflections, and concludes with a summary of key challenges and frustrations inherent in the complexity of public-private partnership (PPP) governance of an RTO. It is envisaged this summary of reflections will enhance tourism management students’ understanding of the complex and political nature of destination marketing organisation (DMO) governance at a local level.

Book review: Ford, R.C., & Peeper, W.C. 2008. Managing Destination Marketing Organizations. Orlando: ForPer Publications

This volume represents the proceedings of the 13th ENTER conference, held at Lausanne, Switzerland during 2006. The conference brought together academics and practitioners across four tracks, which were eSolutions, refereed research papers, work-in-progress papers, and a Ph.D. workshop. This proceedings contains 40 refereed papers, which is less than the 51 papers presented in 2005. However, the editors advise that the scientific committee was stricter than in previous years, to the extent that the acceptance rate was 50%. A significant change in the current proceedings is the inclusion of extended abstracts of the 23 work-in-progress presentations. The papers cover a diverse range of topics across 16 research streams. This reviewer has adopted the approach of succinctly summarising the contribution of each of the 40-refereed papers, in the order in which they appear...

Conference report : International Conference on Destination Branding and Marketing for Regional Tourism Development. December 8-10 2005. Macau.

It has been over 50 years since the topic of branding first appeared in the marketing literature. Research relating to destination branding has however emerged only since the late 1990s, with the first journal article published in 1998 (see Pritchard & Morgan, 1998) and the first book published in 2002 (see Morgan, Pritchard, & Pride, 2002). While a growing number of academic tourism conferences have focused on ‘destination marketing’ as a theme during the past decade (for a list of proceedings see Pike, 2004), Gnoth (1998) claimed the special track he convened at the 1997 American Marketing Science conference, represented the first meeting of practitioners and academics on the topic of destination branding. The initiative of Macau's Instituto De Formacao Turistica (IFT), in conjunction with Perdue University, to convene the first conference on destination branding, was thus new territory and a test of academic interest in the topic. Ultimately the decision was justified with around 100 delegates from 22 countries, including destination branding pioneers Pritchard & Morgan, travelling to the inaugural meeting...

Strategic Management Practices in the Construction Industry : a Dynamic Capabilities View

This book is an empirical study of strategic management practices in the construction industry. It examines the dynamic capabilities paradigm within the context of the Indonesian construction industry. The characteristics of asset-capability combinations were found to be significant determinants of the competitive advantage of the Indonesian construction enterprises, and that such advantage sequentially contributes to organizational performance. In doing so, this study fills an important gap in the empirical literature and reinforces the dynamic capabilities framework’s recognition as a rigorous theory of strategic management. As the dynamic capabilities framework can work in the context of Indonesia, it suggests that the framework has potential applicability in other emerging and developing countries

The role of strategic intelligence in anticipating transnational organised crime: A literary review

Transnational Organised Crime (TOC) has become a focal point for a range of private and public stakeholders. While not a new phenomenon, the rapid expansion of TOC activities and interests, its increasingly complex structures and ability to maximise opportunity by employing new technologies at a rate impossible for law enforcement to match complicates law enforcement’s ability to develop strategies to detect, disrupt, prevent and investigate them. In an age where the role of police has morphed from simplistic response and enforcement activities to one of managing human security risk, it is argued that intelligence can be used to reduce the impact of strategic surprise from evolving criminal threats and environmental change. This review specifically focuses on research that has implications for strategic intelligence and strategy setting in a TOC context. The review findings suggest that current law enforcement intelligence literature focuses narrowly on the management concept of intelligence-led policing in a tactical, operational setting. As such the review identifies central issues surrounding strategic intelligence and highlights key questions that future research agendas must address to improve strategic intelligence outcomes, particularly in the fight against TOC.

Strategic Intelligence in Law Enforcement: A Review

In an age where the role of police has morphed from simplistic response and enforcement activities to one of managing human security risk, it is argued that intelligence can be used to reduce the impact of strategic surprise from evolving criminal threats and environmental change. This review specifically focusses on research that has implications for strategic intelligence in law enforcement. The review findings highlight the absence of detailed research of law enforcement strategic intelligence. Findings suggest that current law enforcement intelligence literature focuses narrowly on the management concept of intelligence-led policing in a tactical, operational setting. As a result there is little theory on how to improve strategic intelligence outcomes. This is despite the fact that intelligence –led policing is envisaged as a management tool to guide strategic decision making. the review identifies central issues surrounding strategic intelligence and highlights key questions that future research agendas must address to improve strategic intelligence outcomes

Resisting innovation talk in higher education teaching and learning

The exhortation to innovate is a pervasive one that occupies a central position across university mission statements, strategic plans, marketing literature and job titles. This paper locates a discourse of innovation within a history of Australian federal higher education policy, a history that may bear similarity with other national contexts. This paper names this discourse as an innovation talk that influences our teaching and learning practices, a discourse that can be reconfigured in a way that opens up the possibility for change. As such, this paper presents an analytical process used to resist taken-for-granted views of what constitutes valuable teaching practices. Suggestions for re-conceptualising how universities govern and support teaching and learning innovation are drawn from analysis of key federal policies that have influenced university practices in recent years.

Education for strategic environmental behavior

This article reviews four bodies of research that shed light on how to promote active care for the environment in children and youth: research on sources of proenvironmental behavior, socialization for democratic skills and values, the development of a personal sense of competence, and the development of collective competence. The article begins with an overview of studies of formative childhood experiences reported by environmental activists and educators, followed by correlational and experimental studies with young people regarding factors associated with their taking action for the environment. Because behaviors with the largest potential benefits for the environment require political engagement, the article also reviews experiences associated with young people’s interest and engagement in public issues. Action for the environment in the home or in public arena like schools and communities requires a personal sense of competence and a sense of collective competence, or confidence in one’s ability to achieve goals by working with a group. Therefore experiences that promote the development of these assets are summarized as well. The conclusion compares major findings in these different fields and discusses implications for environmental educators.