External corporate venture capital investment: Towards a framework for capturing and measuring strategic value

This paper presents the initial results of on-going research in the field of external Corporate Venture Capital (CVC) investments, i.e. equity investments of large corporations in entrepreneurial ventures which originated outside the corporation. The research is motivated by the fact that external CVC plays an increasingly important role within the strategy of corporations. Driven by a general trend towards a more open approach to innovation, companies see particular value in external corporate venturing as a tool to gain, for example, access to complementary technologies and a general window on technology developments. The review of literature in the field of external corporate venturing clearly reveals that theoretical gaps exist in understanding mechanisms for capturing value and measurements of this value. To help close these gaps, the research addresses the underlying question "How do corporations and start-ups capture and measure strategic value through external CVC investments" by using embedded, multiple case studies. Following an initial set of case studies, steps towards the development of a framework for capturing and measuring strategic value from CVC investments are outlined within this paper and the resulting preliminary framework is presented. The paper closes with an outlook on ongoing and future research steps. © 2009 PICMET.

Total acquisition cost of overseas outsourcing/sourcing: A framework and a case study

Purpose - The purpose of this paper is to develop a framework of total acquisition cost of overseas outsourcing/sourcing in manufacturing industry. This framework contains categorized cost items that may occur during the overseas outsourcing/sourcing process. The framework was tested by a case study to establish both its feasibility and usability. Design/methodology/approach - First, interviews were carried out with practitioners who have the experience of overseas outsourcing/sourcing in order to obtain inputs from industry. The framework was then built up based on combined inputs from literature and from practitioners. Finally, the framework was tested by a case study in a multinational high-tech manufacturer to establish both its feasibility and usability. Findings - A practical barrier for implementing this framework is shortage of information. The predictability of the cost items in the framework varies. How to deal with the trade off between accuracy and applicability is a problem needed to be solved in the future research. Originality/value - There are always limitations to the generalizations that can be made from just one case. However, despite these limitations, this case study is believed to have shown the general requirement of modeling the uncertainty and dealing with the dilemma between accuracy and applicability in practice. © Emerald Group Publishing Limited.

Market-pull and technology-push in manufacturing start-ups in emerging industries

Purpose - As traditional manufacturing, previously vital to the UK economy, is increasingly outsourced to lower-cost locations, policy makers seek leadership in emerging industries by encouraging innovative start-up firms to pursue competitive opportunities. Emerging industries can either be those where a technology exists but the corresponding downstream value chain is unclear, or a new technology may subvert the existing value chain to satisfy existing customer needs. Hence, this area shows evidence of both technology-push and market-pull forces. The purpose of this paper is to focus on market-pull and technology-push orientations in manufacturing ventures, specifically examining how and why this orientation shifts during the firm's formative years. Design/methodology/approach - A multiple case study approach of 25 UK start-ups in emerging industries is used to examine this seldom explored area. The authors offer two models of dynamic business-orientation in start-ups and explain the common reasons for shifts in orientation and why these two orientations do not generally co-exist during early firm development. Findings - Separate evolution paths were found for strategic orientation in manufacturing start-ups and separate reasons for them to shift in their early development. Technology-push start-ups often changed to a market-pull orientation because of new partners, new market information or shift in management priorities. In contrast, many of the start-ups beginning with a market-pull orientation shifted to a technology-push orientation because early market experiences necessitated a focus on improving processes in order to increase productivity or meet partner specifications, or meet a demand for complementary products. Originality/value - While a significant body of work exists regarding manufacturing strategy in established firms, little work has been found that investigates how manufacturing strategy emerges in start-up companies, particularly those in emerging industries. © Emerald Group Publishing Limited.

Mapping experience in organizations: A learning process for strategic technology planning

Today's fast-paced, dynamic environments mean that for organizations to keep "ahead of the game", engineering managers need to maximize current opportunities and avoid repeating past mistakes. This article describes the development study of a collaborative strategic management tool - the Experience Scan to capture past experience and apply learning from this to present and future situations. Experience Scan workshops were held in a number of different technology organizations, developing and refining the tool until its format stabilized. From participants' feedback, the workshop-based tool was judged to be a useful and efficient mechanism for communication and knowledge management, contributing to organizational learning.

Depicting the future strategic plans of the Royal Australian Navy using a roadmapping framework as a visual composite canvas

Strategic planning can be an arduous and complex task; and, once a plan has been devised, it is often quite a challenge to effectively communicate the principal missions and key priorities to the array of different stakeholders. The communication challenge can be addressed through the application of a clearly and concisely designed visualisation of the strategic plan - to that end, this paper proposes the use of a roadmapping framework to structure a visual canvas. The canvas provides a template in the form of a single composite visual output that essentially allows a 'plan-on-a-page' to be generated. Such a visual representation provides a high-level depiction of the future context, end-state capabilities and the system-wide transitions needed to realise the strategic vision. To demonstrate this approach, an illustrative case study based on the Australian Government's Defence White Paper and the Royal Australian Navy's fleet plan will be presented. The visual plan plots the in-service upgrades for addressing the capability shortfalls and gaps in the Navy's fleet as it transitions from its current configuration to its future end-state vision. It also provides a visualisation of project timings in terms of the decision gates (approval, service release) and specific phases (proposal, contract, delivery) together with how these projects are rated against the key performance indicators relating to the technology acquisition process and associated management activities. © 2013 Taylor & Francis.

Building global products and competing in innovation: The role of chinese university spin-outs and required innovation capabilities

Usually, firms that produce innovative global products are discussed within the context of developed countries. New ventures in developing countries are typically viewed as low-cost product providers that generate technologically similar products to those produced by developed economies. However, this paper argues that some Chinese university spin-outs (USOs), although rare, have adopted a novel 'catch-up' strategy to build global products on the basis of indigenous platform technologies. This paper attempts to develop a conceptual framework to address the question: how do these specific Chinese USOs develop their innovation capabilities to build global products? In order to explore the idiosyncrasies of the specific USOs, this paper uses the multiple case studies method. The primary data sources are accessed through semi-structured interviews. In addition, archival data and other materials are used as secondary sources. The study analyses the configuration of capabilities that are needed for idiosyncratic growth, and maps them to the globalisation processes. This paper provides a strategic 'roadmap' as an explanatory guide to entrepreneurs, policy makers and investors to better understand the phenomena. © 2014 Inderscience Enterprises Ltd.

Technology management tools: Generalization, integration and configuration

Managers in technology-intensive businesses need to make decisions in complex and dynamic environments. Many tools, frameworks and processes have been developed to support managers in these situations, leading to a proliferation of such approaches, with little consistency in terminology or theoretical foundation, and a lack of understanding of how such tools can be linked together to tackle management challenges in an integrated way. As a step towards addressing these issues, this paper proposes the concept of an integrated 'toolkit', incorporating generalized forms of three core technology management tools that support strategic planning (roadmapping, portfolio analysis and linked analysis grids). © 2006 World Scientific Publishing Company.

龙滩水电站左岸边坡监测信息系统研制及其监测资料分析

Guangxi Longtan Hydropower Station is not only a representative project of West Developing and Power Transmission from West to East in China, but also the second Hydropower Station to Three Gorges Project which is under construction in China. There are 770 X 104m3 creeping rock mass on the left bank slope in upper reaches, in which laid 9 water inlet tunnels and some underground plant buildings. Since the 435m high excavated slope threatens the security of the Dam, its deformation and stability is of great importance to the power station.Based on the Autodesk Map2004, Longtan Hydropower Station Monitoring Information System on Left Bank has been basically finished on the whole. Integrating the hydropower station monitoring information into Geographic Information System(GIS) environment, managers and engineers can dynamically gain the deformation information of the slop by query the symbols. By this means, designers can improve the correctness of analysis, and make a strategic and proper decision. Since the system is beneficial to effectively manage the monitoring-data, equitably save the cost of design and safe construction, and decrease the workload of the engineers, it is a successful application to the combination of hydropower station monitoring information management and computer information system technology.At the same time, on the basis of the geological analysis and rock mass toppling deformation and failure mechanism analysis of Longtan engineering left bank slope, the synthetic space-time analysis and influence factors analysis on the surface monitoring data and deep rock mass monitoring data of A-zone on left bank slope are carried on. It shows that the main intrinsic factor that effects the deformation of Zone A is the argillite limestone interbedding toppling structure, and its main external factors are rain and slope excavation. What's more, Degree of Reinforcement Demand(DRD) has been used to evaluate the slop reinforce effect of Zone A on left bank according to the Engineering Geomechanics-mate-Synthetics(EGMS). The result shows that the slop has been effective reinforced, and it is more stable after reinforce.At last, on the basis of contrasting with several forecast models, a synthetic forecast GRAV model has been presented and used to forecast the deformation of zone A on left bank in generating electricity period. The result indicates that GRAV model has good forecast precision, strong stability, and practical valuable reliability.

Training needs analysis of healthcare library staff, undertaken for South Yorkshire Workforce Development Confederation

Urquhart, C., Durbin, J. & Spink, S. (2004). Training needs analysis of healthcare library staff, undertaken for South Yorkshire Workforce Development Confederation. Aberystwyth: Department of Information Studies, University of Wales Aberystwyth. Sponsorship: South Yorkshire WDC (NHS)

Procurement of electronic content across the UK National Health Service and Higher Education sectors. Report to JISC executive and LKDN executive.

Spink, S., Urquhart, C., Cox, A. & Higher Education Academy - Information and Computer Sciences Subject Centre. (2007). Procurement of electronic content across the UK National Health Service and Higher Education sectors. Report to JISC executive and LKDN executive. Sponsorship: JISC/LKDN

Product?market positioning and prospector strategy : An analysis of strategic patterns from the resource?based perspective

Morgan, R.; Strong, C.; and McGuinness, T. (2003). Product-market positioning and prospector strategy: An analysis of strategic patterns from the resource-based perspective. European Journal of Marketing. 37(10), pp.1409-1439 RAE2008

The cost of multiple large shareholders

Previous research argues that large non-controlling shareholders enhance firm value because they deter expropriation by the controlling shareholder. We propose that the conflicting incentives faced by large shareholders may induce a nonlinear relationship between the relative size of large shareholdings and firm value. Consistent with this prediction, we present evidence that there are costs of having a second (and third) largest shareholder, especially when the largest shareholdings are similar in size. Our results are robust to various relative size proxies, firm performance measures, model specifications, and potential endogeneity issues.

Development of miniaturized wireless sensor nodes suitable for building energy management and modelling

Buildings consume 40% of Ireland's total annual energy translating to 3.5 billion (2004). The EPBD directive (effective January 2003) places an onus on all member states to rate the energy performance of all buildings in excess of 50m2. Energy and environmental performance management systems for residential buildings do not exist and consist of an ad-hoc integration of wired building management systems and Monitoring & Targeting systems for non-residential buildings. These systems are unsophisticated and do not easily lend themselves to cost effective retrofit or integration with other enterprise management systems. It is commonly agreed that a 15-40% reduction of building energy consumption is achievable by efficiently operating buildings when compared with typical practice. Existing research has identified that the level of information available to Building Managers with existing Building Management Systems and Environmental Monitoring Systems (BMS/EMS) is insufficient to perform the required performance based building assessment. The cost of installing additional sensors and meters is extremely high, primarily due to the estimated cost of wiring and the needed labour. From this perspective wireless sensor technology provides the capability to provide reliable sensor data at the required temporal and spatial granularity associated with building energy management. In this paper, a wireless sensor network mote hardware design and implementation is presented for a building energy management application. Appropriate sensors were selected and interfaced with the developed system based on user requirements to meet both the building monitoring and metering requirements. Beside the sensing capability, actuation and interfacing to external meters/sensors are provided to perform different management control and data recording tasks associated with minimisation of energy consumption in the built environment and the development of appropriate Building information models(BIM)to enable the design and development of energy efficient spaces.

A knowledge management system to optimise comfort throughout the building life-cycle

Comfort is, in essence, satisfaction with the environment, and with respect to the indoor environment it is primarily satisfaction with the thermal conditions and air quality. Improving comfort has social, health and economic benefits, and is more financially significant than any other building cost. Despite this, comfort is not strictly managed throughout the building lifecycle. This is mainly due to the lack of an appropriate system to adequately manage comfort knowledge through the construction process into operation. Previous proposals to improve knowledge management have not been successfully adopted by the construction industry. To address this, the BabySteps approach was devised. BabySteps is an approach, proposed by this research, which states that for an innovation to be adopted into the industry it must be implementable through a number of small changes. This research proposes that improving the management of comfort knowledge will improve comfort. ComMet is a new methodology proposed by this research that manages comfort knowledge. It enables comfort knowledge to be captured, stored and accessed throughout the building life-cycle and so allowing it to be re-used in future stages of the building project and in future projects. It does this using the following: Comfort Performances – These are simplified numerical representations of the comfort of the indoor environment. Comfort Performances quantify the comfort at each stage of the building life-cycle using standard comfort metrics. Comfort Ratings - These are a means of classifying the comfort conditions of the indoor environment according to an appropriate standard. Comfort Ratings are generated by comparing different Comfort Performances. Comfort Ratings provide additional information relating to the comfort conditions of the indoor environment, which is not readily determined from the individual Comfort Performances. Comfort History – This is a continuous descriptive record of the comfort throughout the project, with a focus on documenting the items and activities, proposed and implemented, which could potentially affect comfort. Each aspect of the Comfort History is linked to the relevant comfort entity it references. These three components create a comprehensive record of the comfort throughout the building lifecycle. They are then stored and made available in a common format in a central location which allows them to be re-used ad infinitum. The LCMS System was developed to implement the ComMet methodology. It uses current and emerging technologies to capture, store and allow easy access to comfort knowledge as specified by ComMet. LCMS is an IT system that is a combination of the following six components: Building Standards; Modelling & Simulation; Physical Measurement through the specially developed Egg-Whisk (Wireless Sensor) Network; Data Manipulation; Information Recording; Knowledge Storage and Access.Results from a test case application of the LCMS system - an existing office room at a research facility - highlighted that while some aspects of comfort were being maintained, the building’s environment was not in compliance with the acceptable levels as stipulated by the relevant building standards. The implementation of ComMet, through LCMS, demonstrates how comfort, typically only considered during early design, can be measured and managed appropriately through systematic application of the methodology as means of ensuring a healthy internal environment in the building.