Attractiveness of venture idea amongst expert entrepreneurs : a conjoint analysis

Principal Topic Venture ideas are at the heart of entrepreneurship (Davidsson, 2004). However, we are yet to learn what factors drive entrepreneurs’ perceptions of the attractiveness of venture ideas, and what the relative importance of these factors are for their decision to pursue an idea. The expected financial gain is one factor that will obviously influence the perceived attractiveness of a venture idea (Shepherd & DeTienne, 2005). In addition, the degree of novelty of venture ideas along one or more dimensions such as new products/services, new method of production, enter into new markets/customer and new method of promotion may affect their attractiveness (Schumpeter, 1934). Further, according to the notion of an individual-opportunity nexus venture ideas are closely associated with certain individual characteristics (relatedness). Shane (2000) empirically identified that individual’s prior knowledge is closely associated with the recognition of venture ideas. Sarasvathy’s (2001; 2008) Effectuation theory proposes a high degree of relatedness between venture ideas and the resource position of the individual. This study examines how entrepreneurs weigh considerations of different forms of novelty and relatedness as well as potential financial gain in assessing the attractiveness of venture ideas. Method I use conjoint analysis to determine how expert entrepreneurs develop preferences for venture ideas which involved with different degrees of novelty, relatedness and potential gain. The conjoint analysis estimates respondents’ preferences in terms of utilities (or part-worth) for each level of novelty, relatedness and potential gain of venture ideas. A sample of 32 expert entrepreneurs who were awarded young entrepreneurship awards were selected for the study. Each respondent was interviewed providing with 32 scenarios which explicate different combinations of possible profiles open them into consideration. Results and Implications Results indicate that while the respondents do not prefer mere imitation they receive higher utility for low to medium degree of newness suggesting that high degrees of newness are fraught with greater risk and/or greater resource needs. Respondents pay considerable weight on alignment with the knowledge and skills they already posses in choosing particular venture idea. The initial resource position of entrepreneurs is not equally important. Even though expected potential financial gain gives substantial utility, result indicate that it is not a dominant factor for the attractiveness of venture idea.

A closer look at business planning : early stage outcome effects of how it is prepared and used

The widespread use of business planning in combination with the mixed theoretical and empirical support for its effect suggest research is needed that takes a deeper into the quality of plans and how they are used. In this study we longitudinally examine use vs. non-use; degree of formalizations; revision of plans, and moderation of planning effects by product novelty,among nascent firms. We relate these to attainment of profitability after 12 months. We find that business planning is negatively related to profitability, but that revising plans is positively related to profitability. Both these effects are stronger under conditions of high product novelty.

Forecasting negative effects of monotony and sensation seeking on performance during a vigilance task

The driving task requires sustained attention during prolonged periods, and can be performed in highly predictable or repetitive environments. Such conditions could create hypovigilance and impair performance towards critical events. Identifying such impairment in monotonous conditions has been a major subject of research, but no research to date has attempted to predict it in real-time. This pilot study aims to show that performance decrements due to monotonous tasks can be predicted through mathematical modelling taking into account sensation seeking levels. A short vigilance task sensitive to short periods of lapses of vigilance called Sustained Attention to Response Task is used to assess participants‟ performance. The framework for prediction developed on this task could be extended to a monotonous driving task. A Hidden Markov Model (HMM) is proposed to predict participants‟ lapses in alertness. Driver‟s vigilance evolution is modelled as a hidden state and is correlated to a surrogate measure: the participant‟s reactions time. This experiment shows that the monotony of the task can lead to an important decline in performance in less than five minutes. This impairment can be predicted four minutes in advance with an 86% accuracy using HMMs. This experiment showed that mathematical models such as HMM can efficiently predict hypovigilance through surrogate measures. The presented model could result in the development of an in-vehicle device that detects driver hypovigilance in advance and warn the driver accordingly, thus offering the potential to enhance road safety and prevent road crashes.

The role of bricolage and resource constraints in high potential sustainability ventures

Sustainability decisions and their impacts may be among the greatest challenges facing the world in the 21st century (Davos 2000). Apart from adaptation on the part of established organizations these challenges are arguably going to require solutions developed by new actors However, young ventures have only recently begun generating research interest within sustainability literature (Shepherd et al. 2009). In particular, little is known about resource behaviours of these ventures and how they adapt to substantial resource constraints. One promising theory that has been identified as a way that some entrepreneurs manage constraints is bricolage: a construct defined as “making do by applying combinations of the resources at hand to new problems and opportunities” (Baker and Nelson 2005: 333). Bricolage may be critical as the means of continued venture success as these ventures are frequently developed in severe resource constraint, owing to higher levels of technical sophistication (Rothaermel and Deeds 2006). Further, they are often developed by entrepreneurs committed to personal and social goals of resourcefulness, including values that focus on conservation rather than consumption of resources (Shepherd et al. 2009). In this paper, using seven novel cases of high potential sustainability firms from CAUSEE we consider how constraints impact resource behaviours and further illustrate and extend bricolage domains previously developed by Baker and Nelson (2005) with recommendations for theory and practice provided.

Facilitating needs based cancer care for people with a chronic disease : evaluation of an intervention using a multi-centre interrupted time series design

Background: Palliative care should be provided according to the individual needs of the patient, caregiver and family, so that the type and level of care provided, as well as the setting in which it is delivered, are dependent on the complexity and severity of individual needs, rather than prognosis or diagnosis. This paper presents a study designed to assess the feasibility and efficacy of an intervention to assist in the allocation of palliative care resources according to need, within the context of a population of people with advanced cancer. ---------- Methods/design: People with advanced cancer and their caregivers completed bi-monthly telephone interviews over a period of up to 18 months to assess unmet needs, anxiety and depression, quality of life, satisfaction with care and service utilisation. The intervention, introduced after at least two baseline phone interviews, involved a) training medical, nursing and allied health professionals at each recruitment site on the use of the Palliative Care Needs Assessment Guidelines and the Needs Assessment Tool: Progressive Disease - Cancer (NAT: PD-C); b) health professionals completing the NAT: PD-C with participating patients approximately monthly for the rest of the study period. Changes in outcomes will be compared pre-and post-intervention.---------- Discussion: The study will determine whether the routine, systematic and regular use of the Guidelines and NAT: PD-C in a range of clinical settings is a feasible and effective strategy for facilitating the timely provision of needs based care.

The influence of safety ownership on occupational road safety outcomes

Questionnaires and interviews were conducted with employees and senior managers from three Australian organisations to explore the relationship between perceived managerial ownership of safety responsibilities and occupational road safety. It was found that the perceived authority of the person primarily responsible for managing road risks and perceived shared ownership of safety tasks were both significant independent predictors of safer driving behaviours. It was identified that the position of the person accepting primary risk management responsibilities was typically a member of the OHS team and typically in a management position. The extent that ownership was shared across members within the researched organisations varied, with personnel from OHS and fleet management typically accepting partial ownership of managing occupational road risks. Based on the findings, several recommendations are made to assist practitioners in managing occupational road risks.

Faculty and students’ awareness and challenges of e-learning in a college of education

This study explored the use of e-learning by student teachers and faculty members at the Paro College of Education, Royal University of Bhutan. It provides an overview of the current status of e-learning at the College including the challenges faced by both faculty members and students teachers, and the influence of ICT resources on the use of e-learning by the lecturers and student teachers. The results indicated that there exist challenges in exercising e-learning at the College for teaching and learning. The data indicated that the Internet connection is slow and revealed that most of the lecturers have average computer competency. This study strongly recommends that the College develops a strategic plan for ICT infrastructure and resources that includes policy and guidelines for use. This study also suggests that lecturers and student teachers use freely available e-learning management software.

Micro-family-owned businesses in hostile environment : future engine for growth?

Using panel data from the four waves of the Indonesia Family Life Survey in 1993, 1997, 2000 and 2007 we investigate the prerequisite for and contribution of micro-family-businesses to economic development. We find that family-owned firms are on average fairly profitable compared with the industrial sector profit standard. Failure rates between 1997 and 2000 are very low (about 10%), while the industrial sector experimented a massive shakeout of about 33% in the wake of the 1997 crisis (Ter Wengel & Rodriguez, 2006), with an increase in the number of family-businesses between the two years of observation. This paper contributes to the economics of entrepreneurship studies by continuing the discussion of entrepreneurship in hostile business environments (Baumol, 1990; Sobel, 2008).

Online social networks as an emerging opportunity for entrepreneurship : a study of the music industry

The explosion in use of online social networks is an important phenomenon that provides a new set of entrepreneurial opportunities. Emerging musicians have been among the first to exploit this new market opportunity – and indeed, many have used it successfully. A recent study Carter (2009) reveals that artists who earned the most returns had an online presence on multiple social online sites and services such as MySpace and Facebook. These web pages are leveraged to build fan bases and develop different types of revenue streams. Yet, little is currently known about discovery or exploitation of such opportunities.

Innovative project procurement in the Queensland government : the Woodford Correctional Centre

Much of the effort of the construction industry is directed towards the provision of services and products, many with substantial long term implications. Systems and procedures have evolved over centuries to provide these services and products, but inefficiencies have developed. One strategy for improving the efficiency of the construction industry is to restructure the systems and procedures which deliver projects so that improved benefits to the end users are provided. In this paper, contemporary systems and procedures for the delivery of projects are reviewed and the roles of the major stakeholders are examined. The recent construction of Woodford Correctional Centre in Queensland is reviewed as a case study in restructuring the delivery process and the lessons learned from this successful project are summarised.

The Myer Centre Youth Protocol

The Myer Centre Youth Protocol outlines agreed guidelines and a grievance procedure in respect of young people's use of The Myer Centre, a shopping centre in central Brisbane. The Protocol was the first of its type in Australia and is a collaboration between the Brisbane City Council, the Myer Centre Management, and the Youth Affairs Network of Queensland. The development of the protocol was undertaken by Phil Crane and Greg Marston of Queensland University of Technology (QUT).

Brokering inclusion : the Myer Centre Youth Protocol

This report summarises the research undertaken that informed the Protocol, the process of development, and the first eighteen months of implementation. Particular chapters examine shopping centre use by young poeple, understanding conflict and opposition in the Centre, the Protocol development process, and the monitoring and review of the Protocol.

Independent review of ACT Corrective Services Alexander Maconochie Centre [Interim Report]

Under a Services Agreement dated 16th April 2010 the Australian Capital Territory (ACT) engaged Knowledge Consulting Pty Ltd to conduct an independent review of operations at the Alexander Maconochie Centre (AMC) in the ACT. The Review was commissioned following a motion passed in the ACT Legislative Assembly as follows: “That this Assembly: (1) notes: (a) concerns regarding the operation of the AMC; (b) the unanimous findings of the Standing Committee on Justice and Community Safety report, Inquiry into the delay in the commencement of operations at the Alexander Maconochie Centre; and (c) the Government’s intention to have a review into the operation of the AMC after its first year of operation; and (2) calls on the Government to: (a) commission an independent reviewer to conduct the one year review into the AMC; (b) ensure that the review be open and transparent and public, and include input from community and non-government groups with an interest or involvement in the AMC, including on the terms of reference for the review; (c) ensure the review is completed in a timely manner and be tabled in the Legislative Assembly immediately upon completion; and (d) report upon the progress of the review in August 2010;”

Understanding speeding in school zones in Malaysia and Australia using an extended Theory of Planned Behaviour : the potential role of mindfulness

Speeding in school zones is a problem in both Malaysia and Australia. While there are differences between the countries in terms of school zone treatments and more generally, these differences do not explain why people choose to speed in school zones. Because speeding is usually an intentional behaviour, the Theory of Planned Behaviour (TPB) has been used to understand speeding and develop interventions, however it has limitations which can be addressed by extending the model to incorporate other constructs. One promising construct is mindfulness, which can improve the explanatory value of the TPB by taking into account unintentional speeding attributable to a lack of focus on important elements of the driving environment. We explain what mindfulness is (and is not), how it can assist in providing a better understanding of speeding in school zones, and how it can contribute to the development of interventions. We then outline a program of research which has been commenced, investigating the contribution of mindfulness to an understanding of speed choice in school zones in two different settings (Australia and Malaysia) using the TPB.