A critical evaluation of the standardisation potential of business plan evaluation aids (BPEA) used in venture capital investment decision-making

The research objective was to perform a critical evaluation and comparison of four, representative Business Plan Evaluation Aids (BPEA) to facilitate constructive discussion of the proposition that greater standardisation of venture capital decision-making might be both desirable and possible.

The four BPEA were systematically compared using a structured, taxonomic process employing seven key criteria. The evidence of this investigation suggests a clear superiority for BPEAs, which are based on the known attributes of successful ventures and use actuarial modelling. Discussion centred on the importance of using BPEAs in a quest for greater consistency of venture capital investment decision-making.

Toward the standardization of venture capital investment evaluation : decision criteria for rating investee business plans

This study examined the criteria used by venture capitalists to evaluate business plans in order to make investment decisions. A literature survey revealed two competing theories: “espoused criteria” where evaluation decisions are based on what venture capitalists say are the decisive factors; versus the use of “known attributes” that successful ventures actually possess. Brunswik’s Lens Model from Social Judgment Theory guided an empirical investigation of several different evaluation methods based on information contained in 129 business plans submitted for venture capital over a 3 year period. Data evaluation culminated in the comparison of the percentage of correct decisions (“hit-rate”) for each method. We found that decisions based on the known attributes of successful ventures have significantly better hit-rates than decisions made using espoused criteria. Discussion centred on the goal of achieving consistency in the conduct of venture analysis. Process standardization can aid in the achievement of consistency. Future research will both deepen and broaden insights.

Civil society, social capital and the Twelve Step group

This article examines the nature of community and family by using the concept of civil society through a Twelve Step group called Al-Anon. Al-Anon is related to Alcoholics Anonymous and is a support group for families of alcoholics. The concept of civil society is addressed by looking at its development in political philosophy and sociology. The work of Putnam, in particular, is used to understand how civil society and the associations which make it up develop social capital [Making Democracy Work: Civic Traditions in Modern Italy, Princeton University Press (1993); Journal of Democracy, 6(1), 65-78 (1995); The Responsive Community, 5(2), 18-33 (1995)]. Social capital is understood to be norms and values such as trust and reciprocity that enable sociability or social connectedness. Community, then, embodies these norms of trust and reciprocity through their development in Al-Anon. Al-Anon is studied as an example of an association in civil society. The data come from an ethnographic study in Australia and five European countries as well as in-depth interviews with women members in Australia. The article reviews the similarities and differences between the various countries as well as the form that social capital takes for individual members.

Love thy neighbour? Associations of social capital and crime with physical activity amongst women

Using a multilevel study design, this study examined the associations between social characteristics of individuals and neighbourhoods and physical activity among women. Women (n = 1405) recruited from 45 Melbourne (Australia) neighbourhoods of varying socioeconomic disadvantage provided data on social factors and leisure-time: physical activity; walking; and walking in one’s own neighbourhood. Individual level social factors were number of neighbours known and social participation. Neighbourhood-level social characteristics (interpersonal trust, norms of reciprocity, social cohesion) were derived by aggregating survey data on these constructs within neighbourhoods. Objective data on crimes within neighbourhoods were obtained from Victoria Police. In bivariable regression models, all social variables at both the individual and neighbourhood level were positively associated with odds of physical activity, walking, and walking in one’s own neighbourhood. Associations with individual social participation (associated with all three physical activity variables) and neighbourhood interpersonal trust (associated with overall physical activity only) remained significant in multivariable models. Neither neighbourhood crime against the person nor incivilities were associated with any form of physical activity. These results demonstrate that women who participated in local groups or events and, less consistently, women living in neighbourhoods where residents trusted one another, were more likely to participate in leisure-time physical activity. While redressing macro-level social and economic policies that contribute to neighbourhood inequalities remains a priority, public health initiatives aimed at promoting physical activity could consider focusing on fostering social interactions targeting both individuals and communities. Further investigation of causal mechanisms underlying these associations is required.

Helping business leverage web 2.0 to generate social capital

Businesses large and small are keen to leverage Web 2.0 applications to interact with customers, suppliers and other stakeholders. Whilst some have achieved success, others are still struggling to understand the opportunities and threats associated with using Web 2.0 in business. This paper discusses the development of a conceptual framework to help businesses understand how they could leverage Web 2.0 applications to generate social capital. The proposed framework helps businesses (i) identify opportunities to leverage the strengths and features of various Web 2.0 applications, and (ii) develop business strategies for Web 2.0. As a positional paper, it contributes to theory by proposing a systematic and structured approach for understanding how social capital is created, captured, distributed, and consumed online.

Social capital, educational institutions and leadership

Social capital refers to the norms and networks that enable people to act collectively. It is a set of resources that reside in the relationships among people that allow them to share their knowledge and skills. Social capital is built and accessed through interactions between people and groups. Educational institutions and their community benefit from building social capital. Educational leaders who are committed to lifelong learning and view the community as a resource for the institution have a key role in unlocking and building social capital. Social capital is developed through a partnership process with common purpose or vision where leadership is gradually shared between institution and community.

Building professional capital : New Zealand social workers and continuing education

In a qualitative study of the engagement of New Zealand social workers in continuing professional education the construct "professional capital", a form of symbolic capital, explains complex links between perceived status within institutional settings and the aspirations of practitioners. Strategies for developing greater engagement in scholarship and research are recommended.

A complex connection : community newspapers and tiers of social capital

At a time when newspaper circulations across the globe are plummeting, there is increasing interest in the concept of `local over global' and research linking small newspapers with the `strength of community'. There has been a myriad of definitions on social capital including Coleman, Bourdieu and Putnam which focus on the value of the strength of relationships formed by individuals and groups within communities. While newspaper circulation has been linked to community social capital, little attention has been paid to the way social capital works within the news organisation from those who produce news and information to those who read it. Given the complexity and multiplicity of the sociology of news production, this paper examines the role of organisational social capital in this process and argues Ronald Burt's theory of 'structural holes' (1997) may be an appropriate theoretical lens through which to consider this.