Venture idea newness, relatedness and performance in nascent ventures

Principal Topic The study of the origin and characteristics of venture ideas - or ''opportunities'' as they are often called - and their contextual fit are key research goals in entrepreneurship (Davidsson, 2004). We define venture idea as ''the core ideas of an entrepreneur about what to sell, how to sell, whom to sell and how an entrepreneur acquire or produce the product or service which he/she sells'' for the purpose of this study. When realized the venture idea becomes a ''business model''. Even though venture ideas are central to entrepreneurship yet its characteristics and their effect to the entrepreneurial process is mysterious. According to Schumpeter (1934) entrepreneurs could creatively destruct the existing market condition by introducing new product/service, new production methods, new markets, and new sources of supply and reorganization of industries. The introduction, development and use of new ideas are generally called as ''innovation'' (Damanpour & Wischnevsky, 2006) and ''newness'' is a property of innovation and is a relative term which means that the degree of unfamiliarity of venture idea either to a firm or to a market. However Schumpeter's (1934) discusses five different types of newness, indicating that type of newness is an important issue. More recently, Shane and Venkataraman (2000) called for research taking into consideration not only the variation of characteristics of individuals but also heterogeneity of venture ideas, Empirically, Samuelson (2001, 2004) investigated process differences between innovative venture ideas and imitative venture ideas. However, he used only a crude dichotomy regarding the venture idea newness. According to Davidsson, (2004) as entrepreneurs could introduce new economic activities ranging from pure imitation to being new to the entire world market, highlighting that newness is a matter of degree. Dahlqvist (2007) examined the venture idea newness and made and attempt at more refined assessment of the degree and type of newness of venture idea. Building on these predecessors our study refines the assessment of venture idea newness by measuring the degree of venture idea newness (new to the world, new to the market, substantially improved while not entirely new, and imitation) for four different types of newness (product/service, method of production, method of promotion, and customer/target market). We then related type and degree of newness to the pace of progress in nascent venturing process. We hypothesize that newness will slow down the business creation process. Shane & Venkataraman (2000) introduced entrepreneurship as the nexus of opportunities and individuals. In line with this some scholars has investigated the relationship between individuals and opportunities. For example Shane (2000) investigates the relatedness between individuals' prior knowledge and identification of opportunities. Shepherd & DeTinne (2005) identified that there is a positive relationship between potential financial reward and the identification of innovative venture ideas. Sarasvathy's 'Effectuation Theory'' assumes high degree of relatedness with founders' skills, knowledge and resources in the selection of venture ideas. However entrepreneurship literature is scant with analyses of how this relatedness affects to the progress of venturing process. Therefore, we assess the venture ideas' degree of relatedness to prior knowledge and resources, and relate these, too, to the pace of progress in nascent venturing process. We hypothesize that relatedness will increase the speed of business creation. Methodology For this study we will compare early findings from data collected through the Comprehensive Australian Study of Entrepreneurial Emergence (CAUSEE). CAUSEE is a longitudinal study whose primary objective is to uncover the factors that initiate, hinder and facilitate the process of emergence and development of new firms. Data were collected from a representative sample of some 30,000 households in Australia using random digit dialing (RDD) telephone survey interviews. Through the first round of data collection identified 600 entrepreneurs who are currently involved in the business start-up process. The unit of the analysis is the emerging venture, with the respondent acting as its spokesperson. The study methodology allows researchers to identify ventures in early stages of creation and to longitudinally follow their progression through data collection periods over time. Our measures of newness build on previous work by Dahlqvist (2007). Our adapted version was developed over two pre-tests with about 80 participants in each. The measures of relatedness were developed through the two rounds of pre-testing. The pace of progress in the venture creation process is assessed with the help of time-stamped gestation activities; a technique developed in the Panel Study of Entrepreneurial Dynamics (PSED). Results and Implications We hypothesized that venture idea newness slows down the venturing process whereas relatedness facilitates the venturing process. Results of 600 nascent entrepreneurs in Australia indicated that there is marginal support for the hypothesis that relatedness assists the gestation progress. Newness is significant but is the opposite sign to the hypothesized. The results give number of implications for researchers, business founders, consultants and policy makers in terms of better knowledge of the venture creation process.

What’s in a handshake? Exploring business-to-business relational exchange

Despite its importance in the development of competitive advantage, attempts to unify diverse classifications of business-to-business relational exchange have been largely unsuccessful. We used 18 semi-structured, in-depth interviews with managers from a wide range of industries to explain the business-to-business relational exchange construct. Analysis of the data revealed that business-to-business relational exchange comprises five key dimensions. These are communication, compatibility, commitment, trust and power symmetry. The research highlights the importance of personal interaction in business relationships and provided additional insights into the importance of affective commitment. In addition we reveal a number of negative consequences of affective commitment, which have been previously unexplored. A new conceptual model of business-to-business relational exchange is presented, which synthesises these findings and directs future research.

Re-imagining China's future : soft power, cultural presence and the East Asian media market

As various contributors to this volume suggest, the term soft power is multifaceted. In 2002 Joseph Nye, the political scientist who coined the term more than a decade previously, noted that the soft power of a country rests on three resources: a country’s culture, its political values, and its foreign policies (Nye 2002). However, several factors can be drawn together to explain China’s adoption of this concept. First, China’s economic influence has precipitated a groundswell of nationalism, which reached its apex at the Opening Ceremony of the 2008 Beijing Olympics. This global media event provided an international platform to demonstrate China’s new found self-confidence. Second, cultural diplomacy and foreign aid, particularly through Third World channels is seen by the Chinese Communist Party leadership as an appropriate way to extend Chinese influence globally (Kurlantzick 2007). Third, education in Chinese culture through globally dispersed Confucius Institutes is charged with improving international understanding of Chinese culture and values, and in the process renovating negative images of China. Fourth, the influence of Japanese and Korean popular culture on China’s youth cultures in recent years has caused acute discomfit to cultural nationalists. Many contend it is time to stem the tide. Fifth, the past few years have witnessed a series of lively debates about the importance of industries such as design, advertising, animation and fashion, resulting in the construction of hundreds of creative clusters, animation centres, film backlots, cultural precincts, design centres and artist lofts.

Project-based organization as adaptation to risk and opportunity in small firms

Recent years have seen a rapid increase in SMEs working collaboratively in inter-organizational projects. But what drives the emergence of such projects, and what types of industries breed them the most? To address these questions, this paper extends the long running literature on the firm and industry antecedents of new venturing and alliance formation to the domain of project-based organization by SMEs. Based on survey data collected among 1,725 small and medium sized organizations and longitudinal industry data, we find an overall pattern that indicates that IOPV participation is primarily determined by a focal SME’s scope of innovative activities, and the munificence, dynamism and complexity of its environment. Unexpectedly, these variables have different effects on whether SMEs are likely to engage in IOPVs, compared to with how many there are in their portfolio at a time. Implications for theory development are discussed.

Australian health and safety inspectors’ perceptions and actions in relation to changed work arrangements

Extensive international research points to an association between changed work arrangements, especially those commonly labelled as contingent work, with adverse occupational health and safety (OHS) outcomes. Research also indicates these work arrangements have weakened or bypassed existing OHS and workers’ compensation regulatory regimes. However, there has been little if any research into how OHS inspectors perceive these issues and how they address them during workplace visits or investigations. Between 2003 and 2007 research was undertaken that entailed detailed documentary and statistical analysis, extended interviews with 170 regulatory managers and inspectors, and observational data collected while accompanying inspectors on 118 ‘typical’ workplace visits. Key findings are that inspectors responsible for a range of industries see altered work arrangements as a serious challenge, especially labour hire (agency work) and subcontracting. Though the law imposes clear obligations, inspectors identified misunderstanding/blameshifting and poor compliance amongst parties to these arrangements. The complexity of these work arrangements also posed logistical challenges to inspectorates.

How the energy sector could get it wrong with cloud computing

Cloud computing has significantly impacted a broad range of industries, but these technologies and services have been absorbed throughout the marketplace unevenly. Some industries have moved aggressively towards cloud computing, while others have moved much more slowly. For the most part, the energy sector has approached cloud computing in a measured and cautious way, with progress often in the form of private cloud solutions rather than public ones, or hybridized information technology systems that combine cloud and existing non-cloud architectures. By moving towards cloud computing in a very slow and tentative way, however, the energy industry may prevent itself from reaping the full benefit that a more complete migration to the public cloud has brought about in several other industries. This short communication is accordingly intended to offer a high-level overview of cloud computing, and to put forward the argument that the energy sector should make a more complete migration to the public cloud in order to unlock the major system-wide efficiencies that cloud computing can provide. Also, assets within the energy sector should be designed with as much modularity and flexibility as possible so that they are not locked out of cloud-friendly options in the future.

Air analysis

There are three distinct categories of air environment to be considered in this chapter. These are as follows: (1) The “ambient” or general outdoors atmosphere to which the members of the population are exposed when they venture out of their homes or offices in industrial, urban or rural environments. (2) Indoor air environments, which occur in buildings such as homes, schools, restaurants, public hospitals and office buildings. This category does not cover factories or workplaces which are otherwise subjected to the provisions of various occupational health standards. (3) Workplace atmospheres, which occur in a variety of industries or factories and for which there are numerous atmospheric concentration limits (or exposure standards) promulgated by appropriate bodies or organisations. Since 2009 setting concentration limits for atmospheric contaminants has been administered by Safe Work Australia. A fourth category of air environment which falls outside this chapter is that which is related to upper atmospheric research, global atmospheric effects and concomitant areas of inquiry and/or debate. Such areas include “greenhouse” gas emissions, ozone depletion, and related matters of atmospheric chemistry and physics. This category is not referred to again in this chapter.

Typologies and touchpoints: Designing multi-channel digital strategies

Purpose This study aims to gain a clearer understanding of digital channel design. The emergence of new technologies has revolutionised the way companies interact and engage with customers. The driver for this research was the suggestion that practitioners feel they do not possess the skills to understand and exploit new digital channel opportunities. To gain a clearer understanding of digital channel design, this paper addresses the research question: What digital channels do companies from a wide range of industries and sectors use? Design/methodology/approach A content analysis of 100 international companies was conducted with multiple data sources to form a typology of digital “touchpoints”. The appropriateness of a digital channel typology for this study was for developing rigorous and useful concepts for clarifying and refining the meaning of digital channels. Findings This study identifies what digital channels companies globally currently employ and explores the related needs across industries. A total of 34 digital touchpoints and 4 typologies of digital channels were identified across 16 industries. This research helps to identify the relationship between digital channels and enabling the connections with industry. Research limitations/implications The findings contribute to the growing research area of digital channels. The typology of digital channels is a useful starting point for developing a systematic, theory-based study for enabling the development of broader, comprehensive theories of digital channels. Practical implications Typologies and touchpoints are outlined in relation to industry, company objectives and customer needs to allow businesses to seize opportunities and optimise performance through individual touchpoints. A digital channel model as a key outcome of this research guides practitioners on what touchpoint to implement through an interrelated understanding of industry, company and customer needs. Originality/value This is the first paper to explore a range of industries in relation to their use of digital channels using a unique content analysis. Contributions include clarifying and refining digital channel meaning; identifying and refining the hierarchical relations among digital channels(typologies); and establishing typology and industry relationship model.

Measuring industry clockspeed in the systemic industry context

Industry clockspeed has been used in earlier literature to assess the rate of change of industries but this measure remains limited in its application in longitudinal analyses as well as in systemic industry contexts. Nevertheless, there is a growing need for such a measure as business ecosystems replace standalone products and organisations are required to manage their innovation process in increasingly systemic contexts. In this paper, we firstly derive a temporal measure of technological industry clockspeed, which evaluates the time between successively higher levels of performance in the industry's product technology, over time. We secondly derive a systemic technological industry clockspeed for systemic industry contexts, which measures the time required for a particular sub-industry to utilise the level of technological performance that is provisioned by another, interdependent sub-industry. In turn, we illustrate the use of these measures in an empirical study of the systemic personal computer industry. The results of our empirical illustration show that the proposed clockspeeds together provide informative measures of the pace of change for sub-industries and systemic industry. We subsequently discuss the organisational considerations and theoretical implications of the proposed measures.

VegMachine - putting pastoralists in the picture

Australia’s rangelands are the extensive arid and semi-arid grazing lands that cover approximately 70% of the Australian continent. They are characterised by low and generally variable rainfall, low productivity and a sparse population. They support a number of industries including mining and tourism, but pastoralism is the primary land use. In some areas, the rangelands have a history of biological decline (Noble 1997), with erosion, loss of perennial native grasses and incursion of woody vegetation commonly reported in the scientific and lay literature. Despite our historic awareness of these trends, the establishment of systems to measure and monitor degradation, has presented numerous problems. The size and accessibility of Australia’s rangeland often mitigates development of extensive monitoring programs. So, too, securing on-going commitment from Government agencies to fund rangeland monitoring activities have led to either abandonment or a scaled-down approach in some instances (Graetz et al. 1986; Holm 1993). While a multiplicity of monitoring schemes have been developed for landholders at the property scale, and some have received promising initial uptake, relatively few have been maintained for more than a few years on any property without at least some agency support (Pickup et al. 1998). But, ironically, such property level monitoring tools can contribute significantly to local decisions about stock, infrastructure and sustainability. Research in recent decades has shown the value of satellites for monitoring change in rangelands (Wallace et al. 2004), especially in terms of tree and ground cover. While steadily improving, use of satellite data as a monitoring tool has been limited by the cost of the imagery, and the equipment and expertise needed to extract useful information from it. A project now under way in the northern rangelands of Australia is attempting to circumvent many of the problems through a monitoring system that allows property managers to use long-term satellite image sequences to quickly and inexpensively track changes in land cover on their properties

Designing self-service technologies for e-wellness

In the context of an international economic shift from manufacturing to services and the constant expansion of industries towards online services (Sheth and Sharma, 2008), this study is concerned with the design of self-service technologies (SSTs) for online environments. An industry heavily adopting SSTs across a variety of different services is Health and Wellness, where figures show an ever growing number of health and wellness apps being developed, downloaded and abandoned (Kelley, 2014). Little is known about how to enhance people’s engagement with online wellness SSTs to support self-health management and self-efficacy. This literature review argues that service design of wellness SSTs in online contexts can be improved by developing an enhanced understanding from a people perspective and customer experience point of view. Customer value, quality of service, usability, and self-efficacy all play an important role in understanding how to design SSTs for wellness and keep users engaged. There is a need for further study on how people interact and engage with online services in the context of wellness in order to design engaging wellness services.

Human trafficking heroes and villains: Representing the problem in anti-trafficking awareness campaigns

Since the declaration by the United Nations that awareness raising should be a key part of efforts to combat human trafficking, government and non-government organisations have produced numerous public awareness campaigns designed to capture the public’s attention and sympathy. These campaigns represent the ‘problem’ of trafficking in specific ways, creating heroes and villains by placing the blame for trafficking on some, while obscuring the responsibility of others. This paper adopts Carol Bacchi’s ‘What is the problem represented to be?’ framework for examining the politicisation of problem representation in 18 anti-trafficking awareness campaigns. It is argued that these campaigns construct a narrow understanding of the problem through the depiction of ‘ideal offenders’. In particular, a strong focus on the demand for commercial sex as causative of human trafficking serves to obscure the problematic role of consumerism in a wide range of industries, and perpetuates an understanding of trafficking that fails to draw a necessary distinction between the demand for labour, and the demand for ‘exploitable’ labour. This problem representation also obscures the role governments in destination countries may play in causing trafficking through imposing restrictive migration regimes that render migrants vulnerable to traffickers.

Robust approach to dynamic statistical process control

Statistical Process Control (SPC) technique are well established across a wide range of industries. In particular, the plotting of key steady state variables with their statistical limit against time (Shewart charting) is a common approach for monitoring the normality of production. This paper aims with extending Shewart charting techniques to the quality monitoring of variables driven by uncertain dynamic processes, which has particular application in the process industries where it is desirable to monitor process variables on-line as well as final product. The robust approach to dynamic SPC is based on previous work on guaranteed cost filtering for linear systems and is intended to provide a basis for both a wide application of SPC monitoring and also motivate unstructured fault detection.

Proposição e análise de modelos híbridos para o problema de escalonamento de produção em oficina de máquinas

Nas últimas décadas, o problema de escalonamento da produção em oficina de máquinas, na literatura referido como JSSP (do inglês Job Shop Scheduling Problem), tem recebido grande destaque por parte de pesquisadores do mundo inteiro. Uma das razões que justificam tamanho interesse está em sua alta complexidade. O JSSP é um problema de análise combinatória classificado como NP-Difícil e, apesar de existir uma grande variedade de métodos e heurísticas que são capazes de resolvê-lo, ainda não existe hoje nenhum método ou heurística capaz de encontrar soluções ótimas para todos os problemas testes apresentados na literatura. A outra razão basea-se no fato de que esse problema encontra-se presente no diaa- dia das indústrias de transformação de vários segmento e, uma vez que a otimização do escalonamento pode gerar uma redução significativa no tempo de produção e, consequentemente, um melhor aproveitamento dos recursos de produção, ele pode gerar um forte impacto no lucro dessas indústrias, principalmente nos casos em que o setor de produção é responsável por grande parte dos seus custos totais. Entre as heurísticas que podem ser aplicadas à solução deste problema, o Busca Tabu e o Multidão de Partículas apresentam uma boa performance para a maioria dos problemas testes encontrados na literatura. Geralmente, a heurística Busca Tabu apresenta uma boa e rápida convergência para pontos ótimos ou subótimos, contudo esta convergência é frequentemente interrompida por processos cíclicos e a performance do método depende fortemente da solução inicial e do ajuste de seus parâmetros. A heurística Multidão de Partículas tende a convergir para pontos ótimos, ao custo de um grande esforço computacional, sendo que sua performance também apresenta uma grande sensibilidade ao ajuste de seus parâmetros. Como as diferentes heurísticas aplicadas ao problema apresentam pontos positivos e negativos, atualmente alguns pesquisadores começam a concentrar seus esforços na hibridização das heurísticas existentes no intuito de gerar novas heurísticas híbridas que reúnam as qualidades de suas heurísticas de base, buscando desta forma diminuir ou mesmo eliminar seus aspectos negativos. Neste trabalho, em um primeiro momento, são apresentados três modelos de hibridização baseados no esquema geral das Heurísticas de Busca Local, os quais são testados com as heurísticas Busca Tabu e Multidão de Partículas. Posteriormente é apresentada uma adaptação do método Colisão de Partículas, originalmente desenvolvido para problemas contínuos, onde o método Busca Tabu é utilizado como operador de exploração local e operadores de mutação são utilizados para perturbação da solução. Como resultado, este trabalho mostra que, no caso dos modelos híbridos, a natureza complementar e diferente dos métodos Busca Tabu e Multidão de Partículas, na forma como são aqui apresentados, da origem à algoritmos robustos capazes de gerar solução ótimas ou muito boas e muito menos sensíveis ao ajuste dos parâmetros de cada um dos métodos de origem. No caso do método Colisão de Partículas, o novo algorítimo é capaz de atenuar a sensibilidade ao ajuste dos parâmetros e de evitar os processos cíclicos do método Busca Tabu, produzindo assim melhores resultados.

超大功率二维半导体激光列阵并路自适应稳模技术

半导体列阵量子效率高,输出波长范围涵盖570～1600nm,工作寿命可达数百万小时,叠层列阵可提供超高功率激光输出,在工业、医学等很多领域具有非常广阔的应用前景。但列阵在自由运行时,各发光单元发出的光是不相干的,输出质量差,采用1/4Talbot外腔镜耦合技术,列阵实现了空间锁相最高阶超模,然而唯有基超模远场分布是中心单瓣结构,输出接近衍射极限。为得到最小谱宽、最小发散角、最大功率密度输出,必须将外腔镜倾斜β=λ/2d(λ为工作波长,d为列阵周期),这使得仅有基超模光能成像于发光单元内而被允许振荡。应用此