Small business owners’ success criteria, a values approach to personal differences

This study of 150 Dutch small business owners, identified through business/ network directories, investigated relationships between owners’ understanding of success and their personal values. Business owners ranked 10 success criteria. Per- sonal satisfaction, profitability, and satisfied stakeholders ranked highest. Multidi- mensional scaling techniques revealed two dimensions underlying the rank order of success criteria: person-oriented (personal satisfaction versus business growth) and business-oriented (profitability versus contributing back to society). Furthermore, business growth, profitability, and innovativeness were guided by self-enhancing value orientations (power and achievement). Softer success criteria, such as having satisfied stakeholders and a good work–life balance, were guided by self-transcendent value orientations (benevolence and universalism).

Tiger, tiger, burning bright? Industrial policy “lessons” from Ireland for small African economies

The chapter examines possibilities for industrial policy in African countries through the lens of lessons that can be learned from the industrial policy approaches pursued in Ireland as well as in East Asia. As latecomers to industrialization, the small African economies are well positioned to undertake such an exercise, we suggest. This chapter provides some novel insights by providing a comparison between Ireland and the small African economies. To our knowledge such a comparison offers a unique contribution. Cognizant of the fact that a “one size fits all” approach to industrial policy is not appropriate in the African context, we argue in favor of the adoption of a more “holistic” approach to industrial policy in these economies. Such an approach we argue should focus simultaneously on demand and supply factors of industrial development, and on microeconomic as well as macroeconomic factors.

Innovation, intellectual property and economic growth

What drives innovation? How does it contribute to the growth of firms, industries, and economies? And do intellectual property rights help or hurt innovation and growth? Uniquely combining microeconomics, macroeconomics, and theory with empirical analysis drawn from the United States and Europe, this book introduces graduate students and advanced undergraduates to the complex process of innovation. By addressing all the major dimensions of innovation in a single text, Christine Greenhalgh and Mark Rogers are able to show how outcomes at the microlevel feed through to the macro-outcomes that in turn determine personal incomes and job opportunities. In four sections, this textbook comprehensively addresses the nature of innovation and intellectual property, the microeconomics and macroeconomics of innovation, and economic policy at the firm and macroeconomic levels. Among the topics fully explored are the role of intellectual property in creating incentives to innovate; the social returns of innovation; the creation and destruction of jobs by innovation; whether more or fewer intellectual property rights would give firms better incentives to innovate; and the contentious issues surrounding international treaties on intellectual property.

ICT innovation diffusion in small logistics service providers:an empirical study

For companies competing in highly dynamic markets, innovation is considered a fundamental component of a successful business as it allows companies to sustain profit margins, sales growth and reduce competitors’ pressures. Information and communication technology (ICT) is essential innovation enablers especially in service companies. The focus of the paper is on the analysis of the role of ICT in innovation processes of small third-party logistics service providers (3PLs). On the basis of quantitative evidence emerging from a recent survey carried out on the Italian 3PL market, the paper analyses how ICT is used to support innovation and the factors the inhibit/facilitate the usage of ICT in such companies. Implications for supply chain innovation management are derived from the research and managerial perspectives.

High-growth firms and productivity:evidence from the United Kingdom

Abstract There is considerable evidence that high-growth firms (HGFs) contribute significantly to employment and economic growth. However, the literature so far does not adequately explore the link between HGFs and productivity. This paper investigates the empirical link between total factor productivity (TFP) growth and HGFs, defined in terms of sales growth, in the United Kingdom over the period 2001-2010, by examining two related research questions. Firstly, does higher TFP growth lead to HGF status and secondly, does HGF experience help firms achieve faster TFP growth? Our findings reveal that firms in both the manufacturing and services sectors are more likely to become HGFs when they exhibit higher TFP growth. In addition, firms that have had HGF experience tend to enjoy faster TFP growth following the high-growth episodes. Policy implications are drawn based on the self-reinforcing process of the high-growth phenomenon that is revealed by our results. © 2014 The Author(s).

Small business performance:business, strategy and owner-manager characteristics

Purpose: This paper aims to contribute to the understanding of the factors that influence small to medium-sized enterprise (SME) performance and particularly, growth. Design/methodology/approach: This paper utilises an original data set of 360 SMEs employing 5-249 people to run logit regression models of employment growth, turnover growth and profitability. The models include characteristics of the businesses, the owner-managers and their strategies. Findings: The results suggest that size and age of enterprise dominate performance and are more important than strategy and the entrepreneurial characteristics of the owner. Having a business plan was also found to be important. Research limitations/implications: The results contribute to the development of theoretical and knowledge bases, as well as offering results that will be of interest to research and policy communities. The results are limited to a single survey, using cross-sectional data. Practical implications: The findings have a bearing on business growth strategy for policy makers. The results suggest that policy measures that promote the take-up of business plans and are targeted at younger, larger-sized businesses may have the greatest impact in terms of helping to facilitate business growth. Originality/value: A novel feature of the models is the incorporation of entrepreneurial traits and whether there were any collaborative joint venture arrangements. © Emerald Group Publishing Limited.

Networks, firm size and innovation

Using survey data on Australian firms this paper investigates the determinants of innovation. Various possible determinants are investigated, including market structure, export status, the use of networks, and training. Regression analysis is conducted separately for manufacturing and non-manufacturing firms and, within each sector, by firm size categories. The results include evidence of persistence in innovative activities and that the use of networks is associated with innovation in some sector-firm size categories. Specifically, small manufacturing firms exhibit a positive association between networking and innovation. In contrast, for non-manufacturing firms this association is present for medium and large sized firms.

Comparison of crack growth behaviour between spray-formed and commercial plate Al-Zn-Mg-Cu alloy 7150

This paper compares the crack growth resistance of an experimental spray-formed extrusion with that of a commercial aluminium alloy, the two alloys having similar compositions but markedly different grain structures. Tensile and fracture behaviour is similar in both materials and is influenced by inclusion content. The two materials differ in their crack growth resistance, which is shown to be dependent upon grain size and shape. Environmentally-induced crack growth is favoured by aligned grain boundaries and small grain size.

The influence of a coal gasifier atmosphere on fatigue crack growth rates in BS 4360 steel

Fatigue crack growth tests have been carried out in a number of gaseous environments in order to assess their effects on the crack propagation resistance of BS 4360 grade 50EE, a weldable structural steel. Crack growth rates at 25 °C are up to 20 times higher in hydrogen than in air, but there is no effect when hydrogen is present as a 30% constituent of a simplified product gas (SPG). Indeed, crack growth rates in such a mixture are slightly lower than those measured in air, being comparable with those observed in an inert environment. The other gases present in the SPG are CO, CO2 and CH4, and it is probable that the carbon monoxide is responsible for nullifying the embrittling effects of hydrogen, by preferentially adsorbing on to the surface of the steel and thus blocking hydrogen entry. Experimental observations suggest that oxygen has the same effect when small quantities are allowed to diffuse into a non-flowing hydrogen environment around a propagating crack. The results are encouraging in terms of the suitability of conventional structural steels such as BS 4360 for gas plant applications. The gas mixtures present in such an environment would not have the severe detrimental effects on fatigue crack growth resistance which result from the presence of 'pure' hydrogen. © 1993.

Residual stress effects during near-threshold fatigue crack growth

The fatigue crack propagation behaviour of a low alloy, boron-containing steel has been examined after austenitizing at 900°C or 1250°C and tempering at a range of temperatures up to 400°C. Fatigue threshold values were found to vary with austenitizing and tempering treatment in a range between 3.3 to 6 MPa √m when tested at a stress ratio (R) of 0.2. Crack propagation rates in the Paris regime were insensitive to heat treatment variations. The crack propagation path was essentially transgranular in all conditions with small regions of intergranular facets appearing at growth rates around the knee of the da/dN vs ΔK curve. The crack front shape showed marked retardation in the centre of the specimen at low tempering temperatures. Experimental determinations and computer predictions of residual stress levels in the specimens indicated that this was due to a central residual compressive stress resulting from differential cooling rates and the volume change associated with the martensite transformation. The results are discussed in terms of microstructural and residual stress effects on fatigue behaviour. © 1987.

Growth of short fatigue cracks in titanium alloys

The initiation and early propagation of short fatigue cracks has been studied in detail in two alpha / beta titanium alloys as a function of microstructure. Detailed metallography is presented relating short crack growth rates to the microstructural features present. The work shows the significant differences in short crack propagation rates which can be achieved by microstructural changes within a single alloy.

Activation of proteinase-activated receptor 2 stimulates soluble vascular endothelial growth factor receptor 1 release via epidermal growth factor receptor transactivation in endothelial cells

The proteinase-activated receptor 2 (PAR-2) expression is increased in endothelial cells derived from women with preeclampsia, characterized by widespread maternal endothelial damage, which occurs as a consequence of elevated soluble vascular endothelial growth factor receptor-1 (sVEGFR-1; commonly known as sFlt-1) in the maternal circulation. Because PAR-2 is upregulated by proinflammatory cytokines and activated by blood coagulation serine proteinases, we investigated whether activation of PAR-2 contributed to sVEGFR-1 release. PAR-2–activating peptides (SLIGRL-NH2 and 2-furoyl-LIGRLO-NH2) and factor Xa increased the expression and release of sVEGFR-1 from human umbilical vein endothelial cells. Enzyme-specific, dominant-negative mutants and small interfering RNA were used to demonstrate that PAR-2–mediated sVEGFR-1 release depended on protein kinase C-ß1 and protein kinase C-e, which required intracellular transactivation of epidermal growth factor receptor 1, leading to mitogen-activated protein kinase activation. Overexpression of heme oxygenase 1 and its gaseous product, carbon monoxide, decreased PAR-2–stimulated sVEGFR-1 release from human umbilical vein endothelial cells. Simvastatin, which upregulates heme oxygenase 1, also suppressed PAR-2–mediated sVEGFR-1 release. These results show that endothelial PAR-2 activation leading to increased sVEGFR-1 release may contribute to the maternal vascular dysfunction observed in preeclampsia and highlights the PAR-2 pathway as a potential therapeutic target for the treatment of preeclampsia.

Logistics Innovation in Small 3PLs:what is the Role of ICT?

For companies competing in highly dynamic markets, the search for new sources of competitive advantages is mandatory. Innovation is considered a fundamental component of a successful business as it allows companies to sustain profit margins and sales growth and to reduce pressures coming from competitors. In the knowledge-driven economy, information and communication technology (ICT) plays an important role as it enables innovation in product/service, processes and organisations especially in service companies. This paper investigates the role of ICT in logistics innovation. The focus of the paper is on the effects that ICT usage is having on the management of small third-party logistics service providers (3PLs). On the basis of quantitative and qualitative evidence emerging from a recent survey carried out on the Italian logistic service market, the paper analyses how ICT is used to support logistics innovation and the factors inhibiting/facilitate the usage of ICT in such companies. Implications for logistics innovation management will be outlined from both research and managerial perspectives.

A survey of economic growth

Understanding the process of economic growth has been called the ultimate objective of economics. It has also been likened to an elusive quest – like the Holy Grail or the Elixir of Life (Easterly 2001). Taking on such a quest requires ingenuity and perseverance. Even small insights along the way can have major benefits to millions of people; small mistakes can do the reverse. Economies which achieve large increases in output over extended periods of time, not only enable rapid increases in standards of living, but also have dramatic changes in the economic, political and social landscape. For example, the USA is estimated to produce approximately 30 times as much in 1999 as it did in 1899. This sustained economic growth means that in 1999 the USA had an average income per capita of US$34 100. In contrast, sub-Saharan Africa had an average income of $490. Understanding these vast income differences, produced over many decades, is the elusive quest. The aim of this survey is to explain how economists try to understand the process of economic growth. To make the task manageable, the focus is on major issues and current debates. Models and conceptual frameworks are discussed in section III. Section IV summarises empirical studies, with a particular focus on econometric studies of groups of countries. This is not to say that case studies of single countries are not valuable, but space precludes covering everything. The following section sets out some facts about economic growth and, hopefully, motivates the further effort needed to tackle the theory and econometrics.

Knowledge, technological catch-up and economic growth

‘The literature on economic growth has needed for a long time a simple, but rigorous, textbook exposition of the role of knowledge in the growth process, suitable for undergraduates and policymakers. Mark Rogers’s new book provides an excellent introduction, combining clear and succinct theory with up-to-date empirical evidence on this important topic.’ – A.P. Thirlwall, University of Kent, UK Knowledge, Technological Catch-up and Economic Growth investigates the relationship between knowledge diffusion and economic growth. Using a broad definition of knowledge – encompassing technology, production skills, know-how and firm capabilities – the central argument of the book is that the extent of knowledge diffusion is an important determinant of economic growth.