Practical Advice to Entrepreneurs Series by ACE Adjunct Professor Dean Shepherd: Practical advice on pulling the plug on a failing business

The author, Dean Shepherd, is of entrepreneurship—how entrepreneurs think, decide to act, and feel. He recently realized that while his publications in academic journals have implications for entrepreneurs, those implications have remained relatively hidden in the text of the articles and hidden in articles published in journals largely inaccessible to those involved in the entrepreneurial process. This series is designed to bring the practical implications of his research to the forefront.

Practical Advice to Entrepreneurs Series by ACE Adjunct Professor Dean Shepherd: Practical advice on learning the most from project failure

The author, Dean Shepherd, is of entrepreneurship—how entrepreneurs think, decide to act, and feel. He recently realized that while his publications in academic journals have implications for entrepreneurs, those implications have remained relatively hidden in the text of the articles and hidden in articles published in journals largely inaccessible to those involved in the entrepreneurial process. This series is designed to bring the practical implications of his research to the forefront.

Practical Advice to Entrepreneurs Series by ACE Adjunct Professor Dean Shepherd: Practical advice for coping with business failure

The author, Dean Shepherd, is of entrepreneurship—how entrepreneurs think, decide to act, and feel. He recently realized that while his publications in academic journals have implications for entrepreneurs, those implications have remained relatively hidden in the text of the articles and hidden in articles published in journals largely inaccessible to those involved in the entrepreneurial process. This series is designed to bring the practical implications of his research to the forefront.

Cyber crime and its implications to the Pacific

Introduction Cybercrime consists of any criminal action or behaviour that is committed through the use of Information Technology. Common examples of such activities include cyber hacking, identity theft, cracking, spamming, social engineering, data tampering, online fraud, programming attacks, etc. The pervasive use of the internet clearly indicates that the impacts of cybercrime is far reaching and any one, may it be a person or an entity can be a victim of cybercriminal activities. Recently in the US, eight members of a global cybercrime ring were charged in one of the biggest ever bank heists. The cybercrime gang allegedly stole US$45 million by hacking into credit card processing firms and withdrawing money from ATMs in 27 countries (Jessica et al. 2013). An extreme example, the above case highlights how IT is changing the way crimes are being committed. No longer do criminals use masks, guns and get-a-way cars, criminals are able to commit crimes in the comfort of their homes, millions of miles from the scene of the crime and can access significant sums of money that can financially cripple organisations. The world is taking notice of this growing threat and organisations in the Pacific must also be proactive in tackling this emerging issue.

Climate change and financial regulation : challenges for the financial sector post the Global Financial Crisis

Regulation has played a significant role in shaping the financial services sector in Australia over the past few decades. Regulatory changes have included the establishment of the Australian Prudential Regulation Authority (APRA), floating the Australian dollar, allowing foreign financial institutions to operate domestically, the introduction of the superannuation guarantee charge, and the removal of interest rate controls. As the economy emerges from the worst financial crisis since the great depression, a new force of change that is recognised as one of the most significant sources of risk and opportunity facing the business community in the foreseeable future is that of climate change. Climate change is expected to be a significant change agent in the financial services sector as extreme weather patterns, sea level rises, and atmospheric changes impact on asset values (both investment and lending), project finance, and risk products. The financial services industry will be particularly affected by these developments, both as a provider of financial products (capital, credit, investment, advice, and insurance), and also through its powerful influence on the economy in terms of capital allocation. In addition, industry constituents will be heavily impacted by government regulation in this area (reporting, emissions trading and environmental policies), with respect to their own business practices and also those of their clients. This study reports the results of interviews conducted with senior members of the finance sector working in the sustainability area to gauge their perceptions of the challenges facing the sector with respect to climate change. Our results confirm that that regulatory intervention will be critical to climate change response gaining traction and momentum. In particular, regulatory certainty will promote engagement, particularly in relation to the Carbon Pollution Reduction Scheme (CPRS), with other developments needed in terms of information disclosure, performance and remuneration, and incentive programs. Accordingly, the significant potential risks and opportunities that climate change presents to the sector, and the broader economy, will in part be managed/realised only if a swift and significant regulatory response is achieved.

Protecting web 2.0 services from botnet exploitations

Recently, botnet, a network of compromised computers, has been recognized as the biggest threat to the Internet. The bots in a botnet communicate with the botnet owner via a communication channel called Command and Control (C & C) channel. There are three main C & C channels: Internet Relay Chat (IRC), Peer-to-Peer (P2P) and web-based protocols. By exploiting the flexibility of the Web 2.0 technology, the web-based botnet has reached a new level of sophistication. In August 2009, such botnet was found on Twitter, one of the most popular Web 2.0 services. In this paper, we will describe a new type of botnet that uses Web 2.0 service as a C & C channel and a temporary storage for their stolen information. We will then propose a novel approach to thwart this type of attack. Our method applies a unique identifier of the computer, an encryption algorithm with session keys and a CAPTCHA verification.

Exploring the boundary between the siphon and barometer in a hypobaric chamber

Siphons have been used since ancient times, but exactly how they work is still a matter of debate. In order to elucidate the modus operandi of a siphon, a 1.5 m high siphon was set up in a hypobaric chamber to explore siphon behaviour in a low-pressure environment. When the pressure in the chamber was reduced to about 0.18 atmospheres, a curious waterfall-like feature appeared downstream from the apex of the siphon. A hypothesis is presented to explain the waterfall phenomenon. When the pressure was reduced further the siphon broke into two columns - in effect becoming two back-to-back barometers. This experiment demonstrates the role of atmospheric pressure in explaining the hydrostatic characteristics of a siphon and the role of molecular cohesion in explaining the hydrodynamic aspects.

UbiOpticon : participatory sousveillance with urban screens and mobile phone cameras

In many cities around the world, surveillance by a pervasive net of CCTV cameras is a common phenomenon in an attempt to uphold safety and security across the urban environment. Video footage is being recorded and stored, sometimes live feeds are being watched in control rooms hidden from public access and view. In this study, we were inspired by Steve Mann’s original work on sousveillance (surveillance from below) to examine how a network of camera equipped urban screens could allow the residents of Oulu in Finland to collaborate on the safekeeping of their city. An agile, rapid prototyping process led to the design, implementation and ‘in the wild’ deployment of the UbiOpticon screen application. Live video streams captured by web cams integrated at the top of 12 distributed urban screens were broadcast and displayed in a matrix arrangement on all screens. The matrix also included live video streams of two roaming mobile phone cameras. In our field study we explored the reactions of passers-by and users of this screen application that seeks to inverse Bentham’s original panopticon by allowing the watched to be watchers at the same time. In addition to the original goal of participatory sousveillance, the system’s live video feature sparked fun and novel user-led apprlopriations.

Vote with your feet : local community polling on urban screens

Falling prices have led to an ongoing spread of public displays in urban areas. Still, they mostly show passive content such as commercials and digital signage. At the same time, technological advances have enabled the creation of interactive displays potentially increasing their attractiveness for the audience, e.g. through providing a platform for civic discourse. This poses considerable challenges, since displays need to communicate the opportunity to engage, motivate the audience to do so, and be easy to use. In this paper we present Vote With Your Feet, a hyperlocal public polling tool for urban screens allowing users to express their opinions. Similar to vox populi interviews on TV or polls on news websites, the tool is meant to reflect the mindset of the community on topics such as current affairs, cultural identity and local matters. It is novel in that it focuses on a situated civic discourse and provides a tangible user interface, tackling the mentioned challenges. It shows one Yes/No question at a time and enables users to vote by stepping on one of two tangible buttons on the ground. This user interface was introduced to attract people’s attention and to lower participation barriers. Our field study showed that Vote With Your Feet is perceived as inviting and that it can spark discussions among co-located people.

The IKBALS project: multi-modal reasoning in legal knowledge based systems

In attempting to build intelligent litigation support tools, we have moved beyond first generation, production rule legal expert systems. Our work integrates rule based and case based reasoning with intelligent information retrieval. When using the case based reasoning methodology, or in our case the specialisation of case based retrieval, we need to be aware of how to retrieve relevant experience. Our research, in the legal domain, specifies an approach to the retrieval problem which relies heavily on an extended object oriented/rule based system architecture that is supplemented with causal background information. We use a distributed agent architecture to help support the reasoning process of lawyers. Our approach to integrating rule based reasoning, case based reasoning and case based retrieval is contrasted to the CABARET and PROLEXS architectures which rely on a centralised blackboard architecture. We discuss in detail how our various cooperating agents interact, and provide examples of the system at work. The IKBALS system uses a specialised induction algorithm to induce rules from cases. These rules are then used as indices during the case based retrieval process. Because we aim to build legal support tools which can be modified to suit various domains rather than single purpose legal expert systems, we focus on principles behind developing legal knowledge based systems. The original domain chosen was theAccident Compensation Act 1989 (Victoria, Australia), which relates to the provision of benefits for employees injured at work. For various reasons, which are indicated in the paper, we changed our domain to that ofCredit Act 1984 (Victoria, Australia). This Act regulates the provision of loans by financial institutions. The rule based part of our system which provides advice on the Credit Act has been commercially developed in conjunction with a legal firm. We indicate how this work has lead to the development of a methodology for constructing rule based legal knowledge based systems. We explain the process of integrating this existing commercial rule based system with the case base reasoning and retrieval architecture.

In the shadow of the welfare state : the role of payday lending in poverty survival in Australia

A defining characteristic of contemporary welfare governance in many western countries has been a reduced role for governments in direct provision of welfare, including housing, education, health and income support. One of the unintended consequences of devolutionary trends in social welfare is the development of a ‘shadow welfare state’ (Fairbanks, 2009; Gottschalk, 2000), which is a term used to describe the complex partnerships between statebased social protection, voluntarism and marketised forms of welfare. Coupled with this development, conditional workfare schemes in countries such as the United States, Canada, the UK and Australia are pushing more people into informal and semi-formal means of poverty survival (Karger, 2005). These transformations are actively reshaping welfare subjectivities and the role of the state in urban governance. Like other countries such as the US, Canada and the UK, the fringe lending sector in Australia has experienced considerable growth over the last decade. Large numbers of people on low incomes in Australia are turning to non-mainstream financial services, such as payday lenders, for the provision of credit to make ends meet. In this paper, we argue that the use of fringe lenders by people on low incomes reveals important theoretical and practical insights into the relationship between the mixed economy of welfare and the mixed economy of credit in poverty survival.

Practical Advice for Entrepreneurs

I am interested in the psychology of entrepreneurship—how entrepreneurs think, decide to act, and feel. I recently realized that while my publications in academic journals have implications for entrepreneurs, those implications have remained relatively hidden in the text of the articles and hidden in articles published in journals largely inaccessible to those involved in the entrepreneurial process. This book is designed to bring the practical implications of my research to the forefront. I decided to take a different approach with this book and not write it for a publisher. I did this because I wanted the ideas to be freely available: (1) I wanted those interested in practical advice for entrepreneurs to be able to freely download, distribute, and use this information (I only ask that the content be properly cited), (2) I wanted to release the chapters independently and make chapters available as they are finished, and; (3) I wanted this work to be a dialogue rather than a one-way conversation—I hope readers email me feedback (positive and negative) so that I can use this information to revise the book. In producing the journal articles underpinning this book, I have had the pleasure of working with many talented and wonderful colleagues—they are cited at the end of each chapter. I hope you find some of the advice in this book useful.

Invisible connections : investigating older people's emotions and social relations around objects

The advent of the Internet of Things creates an interest in how people might interrelate through and with networks of internet enabled objects. With an emphasis on fostering social connection and physical activity among older people, this preliminary study investigated objects that people over the age of 65 years viewed as significant to them. We conducted contextual interviews in people's homes about their significant objects in order to understand the role of the objects in their lives, the extent to which they fostered emotional and social connections and physical activity, and how they might be augmented through internet connection. Discussion of significant objects generated considerable emotion in the participants. We identified objects of comfort and routine, objects that exhibited status, those that fostered independence and connection, and those that symbolized relationships with loved ones. These findings lead us to consider implications for the design of interconnected objects.

Opportunities and challenges : combining distance and on-campus students in concurrent courses

Through its Electronic Delivery of Gator Engineering (EDGE) program, University of Florida (UF) offers online master’s degrees from participating departments within the UF College of Engineering. Each master’s degree requires 10 courses (3 credit hours each). One interesting and unique aspect of the EDGE pro-gram is that distance learners are registered concurrently in the same courses with traditional on-campus students. This paper examines the specific challenges involved in integrating distance students into on-campus courses, including communication, interaction, access to resources, and equal grading practices.

Assessment of the temperature effect on childhood diarrhea using satellite imagery

A quasi-Poisson generalized linear model combined with a distributed lag non-linear model was used to quantify the main effect of temperature on emergency department visits (EDVs) for childhood diarrhea in Brisbane from 2001 to 2010. Residual of the model was checked to examine whether there was an added effect due to heat waves. The change over time in temperature-diarrhea relation was also assessed. Both low and high temperatures had significant impact on childhood diarrhea. Heat waves had an added effect on childhood diarrhea, and this effect increased with intensity and duration of heat waves. There was a decreasing trend in the main effect of heat on childhood diarrhea in Brisbane across the study period. Brisbane children appeared to have gradually adapted to mild heat, but they are still very sensitive to persistent extreme heat. Development of future heat alert systems should take the change in temperature-diarrhea relation over time into account.