Pull the plug or take the plunge: Multiple opportunities and the speed of venturing decisions in the Australian mining industry

Effectively capturing opportunities requires rapid decision-making. We investigate the speed of opportunity evaluation decisions by focusing on firms' venture termination and venture advancement decisions. Experience, standard operating procedures, and confidence allow firms to make opportunity evaluation decisions faster; we propose that a firm's attentional orientation, as reflected in its project portfolio, limits the number of domains in which these speed-enhancing mechanisms can be developed. Hence firms' decision speed is likely to vary between different types of decisions. Using unique data on 3,269 mineral exploration ventures in the Australian mining industry, we find that firms with a higher degree of attention toward earlier-stage exploration activities are quicker to abandon potential opportunities in early development but slower to do so later, and that such firms are also slower to advance on potential opportunities at all stages compared to firms that focus their attention differently. Market dynamism moderates these relationships, but only with regard to initial evaluation decisions. Our study extends research on decision speed by showing that firms are not necessarily fast or slow regarding all the decisions they make, and by offering an opportunity evaluation framework that recognizes that decision makers can, in fact often do, pursue multiple potential opportunities simultaneously.

Art museums and the global tourist: Experience centers in experiencescapes

Art museums are playing an important role is attracting cultural tourists to global cities and regions. Traditionally, art museums were primarily known for their didactic role. In a post-avant-garde era however museums are more focused on appealing to a broader clientele that want art to be novel and entertaining. Art museums have also come to play a greater role in gentrification projects and cultural precincts. This is because they are ideally suited for tourist-centric environments that offer a variety of immersive sensory experiences, and combine museums (often designed by star-architects), international hotels, restaurants, high-end shopping zones, and other leisure platforms. These "experiencescapes" include Port Maravilha urban waterfront development in Rio de Janiero, the Shanghai Bund, and the Broad project in Los Angeles. The Museum of Old and New Art in Hobart Australia is a boutique player in the global market for experiencescapes. It is smaller than many of its competitors and is situated in a remote part of the world, yet it has made an important contribution to Tasmania’s tourism industry.

The experience of forging new emergency nursing curriculum development, through a course advisory network

Queensland University of Technology (QUT), School of Nursing (SoN), has offered a postgraduate Graduate Certificate in Emergency Nursing since 2003, for registered nurses practising in an emergency clinical area, who fulfil key entry criteria. Feedback from industry partners and students evidenced support for flexible and extended study pathways in emergency nursing. Therefore, in the context of a growing demand for emergency health services and the need for specialist qualified staff, it was timely to review and redevelop our emergency specialist nursing courses. The QUT postgraduate emergency nursing study area is supported by a course advisory group, whose aim is to provide input and focus development of current and future course planning. All members of the course advisory were invited to form an expert panel to review current emergency course documents. A half day “brainstorm session”, planning and development workshop was held to review the emergency courses to implement changes from 2009. Results from the expert panel planning day include: proposal for a new emergency specialty unit; incorporation of the College of Emergency Nurses (CENA) Standards for Emergency Nursing Specialist in clinical assessment; modification of the present core emergency unit; enhancing the focus of the two other units that emergency students undertake; and opening the emergency study area to the Graduate Diploma in Nursing (Emergency Nursing) and Master of Nursing (Emergency Nursing). The conclusion of the brainstorm session resulted in a clearer conceptualisation, of the study pathway for students. Overall, the expert panel group of enthusiastic emergency educators and clinicians provided viable options for extending the career progression opportunities for emergency nurses. In concluding, the opportunity for collaboration across university and clinical settings has resulted in the design of a course with exciting potential and strong clinical relevance.

Analysing industry needs to fine tune IPM project activities

As a first step to better targeting the activities of a project for improving management of western flower thrips, Frankliniella occidentialis, (WFT) in field grown vegetable crops, we surveyed growers, consultants and other agribusiness personnel in two regions of Queensland. Using face-to-face interviews, we collected data on key pests and measures used to manage them, the importance of WFT and associated viral diseases, sources of pest management information and additional skills and knowledge needed by growers and industry. Responses were similar in the two regions. While capsicum growers in one northern Queensland district had suffered serious losses from WFT damage in 2002, in general the pest was not seen as a major problem. In cucurbit crops, the silverleaf whitefly (Bemisia tabaci biotype B) was considered the most difficult insect pest to manage. Pest control tactics were largely based on pesticides although many respondents mentioned non-chemical methods such as good farm hygiene practices, control of weed hosts and regular crop monitoring, particularly when prompted. Respondents wanted to know more about pest identification, biology and damage, spray application and the best use of insecticides. Natural enemies were mentioned infrequently. Keeping up to date with available pesticide options, availability of new chemicals and options for a district-wide approach to managing pests emerged as key issues. Growers identified agricultural distributors, consultants, Queensland Department of Primary Industries staff, other growers and their own experience as important sources of information. Field days, workshops and seminars did not rank highly. Busy vegetable growers wanted these activities to be short and relevant, and preferred to be contacted by post and facsimile rather than email. In response to these results, we are focusing on three core, interrelated project extension strategies: (i) short workshops, seminars and farm walks to provide opportunities for discussion, training and information sharing with growers and their agribusiness advisors; (ii) communication via newsletters and information leaflets; (iii) support for commercialisation of services.

The climate change risk management matrix for the grazing industry of northern Australia

The complexity, variability and vastness of the northern Australian rangelands make it difficult to assess the risks associated with climate change. In this paper we present a methodology to help industry and primary producers assess risks associated with climate change and to assess the effectiveness of adaptation options in managing those risks. Our assessment involved three steps. Initially, the impacts and adaptation responses were documented in matrices by ‘experts’ (rangeland and climate scientists). Then, a modified risk management framework was used to develop risk management matrices that identified important impacts, areas of greatest vulnerability (combination of potential impact and adaptive capacity) and priority areas for action at the industry level. The process was easy to implement and useful for arranging and analysing large amounts of information (both complex and interacting). Lastly, regional extension officers (after minimal ‘climate literacy’ training) could build on existing knowledge provided here and implement the risk management process in workshops with rangeland land managers. Their participation is likely to identify relevant and robust adaptive responses that are most likely to be included in regional and property management decisions. The process developed here for the grazing industry could be modified and used in other industries and sectors. By 2030, some areas of northern Australia will experience more droughts and lower summer rainfall. This poses a serious threat to the rangelands. Although the impacts and adaptive responses will vary between ecological and geographic systems, climate change is expected to have noticeable detrimental effects: reduced pasture growth and surface water availability; increased competition from woody vegetation; decreased production per head (beef and wool) and gross margin; and adverse impacts on biodiversity. Further research and development is needed to identify the most vulnerable regions, and to inform policy in time to facilitate transitional change and enable land managers to implement those changes.

African mahogany. Abstracts from 'Darwin 2011 - African Mahogany Plantation Industry Forum'

This publication summarises the talks presented at ‘Darwin 2011 – African Mahogany Plantation Industry Forum’ held at the Department of Resources Research Facility, Berrimah, Darwin, 31st August and 1st September 2011. The forum brought together a vast amount of experience and knowledge about African mahogany and its prospects as a plantation timber tree in the dry tropics of northern Australia. The abstracts and references represent a valuable body of knowledge building on that recorded in previous African mahogany workshops in Mareeba (2004) and Townsville (2006). Besides the presenters’ abstracts, this publication provides a list of all the authors and their contact details and a complete list of all the cited references and further reading.

Implementing sustainable farming practices in the Herbert: The Oakleigh Farming Company experience

The Oakleigh Farming Company has been progressively changing its farming practices on its property at Cordelia in the Herbert River District. During the last ten years the changes have included the adoption of raised beds at 1.8m row spacing, controlled traffic and dual row planting using double disc opener planters. This paper describes some of the changes that have been made to the farming system and examines their impact on farm productivity and economic performance. Since changing to the current farming system, the farm gross margin has increased from $789/ha to $897/ha. In addition to the numerous cost savings, the new farming system has reduced the time spent on tractors by 54% across the whole farm. Return on investment on the 1997 farming system was 1.6% versus 2.7% on their current farming system. The farming company is continually looking for new ways to improve profitability and believes that innovation is critical for the long term sustainability of the sugar industry.

Economic evaluation of precision controlled traffic farming in the Australian sugar industry: a case study of an early adopter

Controlled traffic has been identified as the most practical method of reducing compaction-related soil structural degradation in the Australian sugarcane industry. GPS auto-steer systems are required to maximize this potential. Unfortunately there is a perception that little economic gain will result from investing in this technology. Regardless, a number of growers have made the investment and are reaping substantial economic and lifestyle rewards. In this paper we assess the cost effectiveness of installing GPS guidance and using it to implement Precision Controlled Traffic Farming (PCTF) based on the experience of an early adopter. The Farm Economic Analysis Tool (FEAT) model was used with data provided by the grower to demonstrate the benefits of implementing PCTF. The results clearly show that a farming system based on PCTF and the minimum tillage improved farm gross margin by 11.8% and reduced fuel usage by 58%, compared to producers' traditional practice. PCTF and minimum tillage provide sugar producers with a tool to manage the price cost squeeze at a time of low sugar prices. These data provide producers with the evidence that investment in PCTF is economically prudent.

Enterprise education: Learning through personal experience

This paper outlines the development of a reflective process through which student feelings are brought to the surface to advance their learning outcomes. A key notion in relation to the capacity of student development is the ability of students to alter their collective habits of thought and in turn the nature of the learning environment. The paper examines student reflection in the context of students' heightened awareness of self and their potential influence on their environment. The notion of 'surfacing feelings' is used to describe the outcome of individual and group reflection through which several parties become aware of the active reflections of individual students, thereby increasing the potential depth of overall reflection. Finally, the author considers the transferability of the ideas discussed to other educational contexts.

Enhancing the learning experiences through Industry-Based Learning from Indonesian university perspective

This paper investigates how students’ learning experience can be enhanced by participating in the Industry-Based Learning (IBL) program. In this program, the university students coming into the industry to experience how the business is run. The students’ learning media is now not coming from the textbooks or the lecturers but from learning by doing. This new learning experience could be very interesting for students but at the same time could also be challenging. The research involves interviewing a number of students from the IBL programs, the academic staff from the participated university who has experience in supervising students and the employees of the industry who supported and supervised the students in their work placements. The research findings offer useful insights and create new knowledge in the field of education and learning. The research contributes to the existing knowledge by providing a new understanding of the topic as it applied to the Indonesian context.

Realisation of University-Industry Collaboration through Industry-Based Learning at Indonesian Higher Education

The collaboration between universities and industries has become increasingly important for the development of Science and Technology. This is particularly more prominent in the Science Technology Engineering and Mathematics (STEM) disciplines. Literature suggest that the key element of University-Industry Partnership (UIP) is the exchange of knowledge that is mutually beneficial for both parties. One real example of the collaborations is Industry-Based Learning (IBL) in which university students are coming into industries to experience and learn how the skills and knowledge acquired in the classroom are implemented in work places. This paper investigate how the University-Industry Collaboration program is implemented though Industry-Based Learning (IBL) at Indonesian Universities. The research findings offer useful insights and create a new knowledge in the field of STEM education and collaborative learning. The research will contribute to existing knowledge by providing empirical understanding of this topic. The outcomes can be used to improve the quality of University-Industry Partnership programs at Indonesian Universities and inform Indonesian higher education authorities and their industrial partners of an alternative approach to enhance their IBL programs.

BIOMASS GASIFICATION TO SUBSTITUTE FOSSIL FUEL IN FOOD INDUSTRY

Food industries like biscuit and confectionary use significant amount of fossil fuel for thermal energy. Biscuit manufacturing in India is carried out both by organized and unorganized sector. The ratio of organized to unorganized sector is 60 : 40 (1). The total biscuit manufacturing in the organized sector India in 2008 was about 1.7 million metric tons (1). Accounting for the unorganized sector in India, the total biscuit manufacturing would have been about 2.9 million metric tons/annum. A typical biscuit baking is carried in a long tunnel kiln with varying temperature in different zones. Generally diesel is used to provide the necessary heat energy for the baking purpose, with temperature ranging from 190 C in the drying zone to about 300 C in the baking area and has to maintain in the temperature range of +/- 5 C. Typical oil consumption is about 40 litres per ton of biscuit production. The paper discusses the experience in substituting about 120 lts per hour kiln for manufacturing about 70 tons of biscuit daily. The system configuration consists of a 500 kg/hr gasification system comprising of a reactor, multicyclone, water scrubbers, and two blowers for maintaining the constant gas pressure in the header before the burners. Cold producer gas is piped to the oven located about 200 meters away from the gasifier. Fuel used in the gasification system is coconut shells. All the control system existing on the diesel burner has been suitably adapted for producer gas operation to maintain the total flow, A/F control so as to maintain the temperature. A total of 7 burners are used in different zones. Over 17000 hour of operation has resulted in replacing over 1800 tons of diesel over the last 30 months. The system operates for over 6 days a week with average operational hours of 160. It has been found that on an average 3.5 kg of biomass has replaced one liter of diesel.

Government-Industry Cooperative Fisheries Research in the North Pacific under the MSFCMA

The National Marine Fisheries Service’s Alaska Fisheries Science Center (AFSC) has a long and successful history of conducting research in cooperation with the fishing industry. Many of the AFSC’s annual resource assessment surveys are carried out aboard chartered commercial vessels and the skill and experience of captains and crew are integral to the success of this work. Fishing companies have been contracted to provide vessels and expertise for many different types of research, including testing and evaluation of survey and commercial fishing gear and development of improved methods for estimating commercial catch quantity and composition. AFSC scientists have also participated in a number of industry-initiated research projects including development of selective fishing gears for bycatch reduction and evaluating and improving observer catch composition sampling. In this paper, we describe the legal and regulatory provisions for these types of cooperative work and present examples to illustrate the process and identify the requirements for successful cooperative research.

Role of the state and financial institutions in financing the fishing industry

The experience of the Government in the recovery of loans for 28 foot mechanized vessels has been unsatisfactory. The author examines the various aspects which have contributed to this situation, and considers arrangements for financing purchase of such vessels. The risks associated with the investment in 38 foot vessels are high, and it seems that the reluctance of private investors to make the required contribution from personal funds is a result of fear of the unknown. Current incentives provided by the Government to the private sector for the purchase of 38 foot vessels are considered to be adequate.

Regulation: A Burden in Biopharmaceutical Industry? The Case of EU-Risk Management Plans

The generation of new medicinal products is both a contributor to global economic growth and a source of valuable benefits to human health. Given their direct responsibility for public health, regulatory authorities monitor closely both the development and exploitation of the underlying technologies and the products derived from them. The manner in which such regulation is implemented can result in regulators constraining or facilitating the generation of new products. This paper will study as an example the impact of EU Risk Management Plans (EU-RMPs), which have been mandatory for the approval of new medicines since 2005, on both the industry and regulatory authorities. In interviews, the responses of those who had experience of the implementation of EU-RMPs were mixed. Although the benefits of a more structured and predictable approach to the evaluation of risk were appreciated, some respondents perceived the regulation as an excessive burden on their organisations. The exploration of factors that influence how EU-RMP regulation affects individual firms provides new insights for both regulators and managers, and demonstrates one aspect of the complexity of the process by which new medicinal products are brought to market.