A Proposal for Enterprise Value Phase of the Lean Aerospace Initiative

The Massachusetts Institute of Technology (MIT) submits this proposal for the Enterprise Value Phase of the Lean Aerospace Initiative (LAI) in response to the October 9, 2002 Request for Proposal (RFP) F33615-02-2-5501 from the Air Force Research Laboratory (AFRL/MLKT), Wright-Patterson Air Force Base, Ohio. This proposal addresses the conduct of the LAI as set forth in the Enterprise Value Phase Concept of Operations (final draft dated 5 June 2002. The creation of this Enterprise Value Phase Concept of Operations (ConOps) was the result of extensive interaction among all stakeholders in the LAI consortium. The proposed products and research topics have been developed by the MIT LAI team based on this extended interaction with the Lean Aerospace Initiative consortium members during the concept of operations development. This proposal is in consonance with the Enterprise Value Phase vision, and mission as set forth in the concept of operations so as to meet stakeholder needs to achieve the goals and deliverables desired, prioritized to fit available funding.

Virtual communities of enterprise value creation potential for regional clusters

The research examines regionally networked small business practices. A new concept Virtual Communities of Enterprise is proferred to explain the nature of knowledge sharing both interpersonally and online, and its potential for creating value for small businesses and their regions. Social capital emerges as an essential pre-requisite for accessing value.

Is enterprise value affected by political nominations for a regulatory agency's presidency?

Economists have argued that regulation is the appropriate approach to maintain output in its economically efficient level in a natural monopoly, and that can be achieved by submitting these companies to regulatory agencies’ decisions. The autonomous agencies are, however, not free in an absolute sense, and it is important to ask what the priorities of the new administration are. One answer is that it is designed to give leeway and powers of discretion to unbiased professionals with expertise in their field. In practice, however, professional experts might often be politically motivated. The objective of this study is to investigate whether political nominations to the presidency of regulatory agencies, rather than technical appointments, affect the level of regulatory risk. In order to achieve this purpose, an event study was performed, where the regulatory risk in a political nomination will be compared to a technical nomination, in terms of abnormal return.

Exploring the enterprise value of wikis through media choice theories

Wikis are quickly emerging as a new corporate medium for communication and collaboration. They allow dispersed groups of collaborators to asynchronously engage in persistent conversations, the result of which is stored on a common server as a single, shared truth. To gauge the enterprise value of wikis, the authors draw on Media Choice Theories (MCTs) as an evaluation framework. MCTs reveal core capabilities of communication media and their fit with the communication task. Based on the evaluation, the authors argue that wikis are equivalent or superior to existing asynchronous communication media in key characteristics. Additionally argued is the notion that wiki technology challenges some of the held beliefs of existing media choice theories, as wikis introduce media characteristics not previously envisioned. The authors thus predict a promising future for wiki use in enterprises.

Communities of enterprise : developing regional SMEs in the knowledge economy

Purpose – This paper proposes the concepts of Communities of Enterprise (CoEs) and Virtual Communities of Enterprise (VCoEs) to describe business networking patterns in regional areas where there is no central organisational or industry focus and small and medium enterprises dominate the economy. Design/methodology/approach – Based on analysis of the literature this paper builds on theoretical understandings of knowledge management, clustering and regional development.
Findings – The concept of CoEs is most appropriate for regional areas characterised by many small enterprises in diverse industries. CoEs enhance development of regional clusters by contributing to their intellectual capital, innovation culture, value networks and social capital. The incorporation of ICT creates VCoEs which provide added potential by enabling regions to expand their learning potential through innovation.
Research limitations/implications – This paper provides a conceptual foundation for empirical research into regional network or cluster development using ICT.
Practical implications – Virtual Communities of Enterprise value creation potential is substantial but only when the socioeconomic elements of regional clusters are understood. The VCoE approach addresses the fact that without an industry focus it can be difficult to engage and link SMEs from different industries, although this is where the greatest potential
for value creation in regional clusters is to be found.
Originality/value – The Virtual Communities of Enterprise (VCoEs) concept specifically addresses the unique requirements of SMEs in regions. It has the potential to provide value for regions in a way few ICT based regional development initiatives have been able to achieve.

Metodologías de valoración de empresas

La valoración de una empresa como sistema dinámico es bastante compleja, los diferentes modelos o métodos de valoración son una aproximación teórica y por consiguiente simplificadora de la realidad. Dichos modelos, se aproximan mediante supuestos o premisas estadísticas que nos permiten hacer dicha simplificación, ejemplos de estos, son el comportamiento del inversionista o la eficiencia del mercado. Bajo el marco de un mercado emergente, este proceso presenta de indistinta forma retos paracualquier método de valoración, dado a que el mercado no obedece a los paradigmas tradicionales. Lo anterior hace referencia a que la valoración es aún más compleja, dado que los inversionistas se enfrentan a mayores riesgos y obstáculos. Así mismo, a medida que las economías se globalizan y el capital es más móvil, la valoración tomaráaún más importancia en el contexto citado. Este trabajo de gradopretende recopilar y analizar los diferentes métodos de valoración, además de identificar y aplicar aquellos que se reconocen como “buenas prácticas”. Este proceso se llevó a cabo para una de las empresas más importantes de Colombia, donde fundamentalmente se consideró el contexto de mercado emergente y específicamente el sector petrolero, como criterios para la aplicación del tradicional DCF y el práctico R&V.

Definition of an it project portfolio management methodology for a pharmaceutical company

Con la creciente popularidad de las soluciones de IT como factor clave para aumentar la competitividad y la creación de valor para las empresas, la necesidad de invertir en proyectos de IT se incrementa considerablemente. La limitación de los recursos como un obstáculo para invertir ha obligado a las empresas a buscar metodologías para seleccionar y priorizar proyectos, asegurándose de que las decisiones que se toman son aquellas que van alineadas con las estrategias corporativas para asegurar la creación de valor y la maximización de los beneficios. Esta tesis proporciona los fundamentos para la implementación del Portafolio de dirección de Proyectos de IT (IT PPM) como una metodología eficaz para la gestión de proyectos basados en IT, y una herramienta para proporcionar criterios claros para los directores ejecutivos para la toma de decisiones. El documento proporciona la información acerca de cómo implementar el IT PPM en siete pasos, el análisis de los procesos y las funciones necesarias para su ejecución exitosa. Además, proporciona diferentes métodos y criterios para la selección y priorización de proyectos. Después de la parte teórica donde se describe el IT PPM, la tesis aporta un análisis del estudio de caso de una empresa farmacéutica. La empresa ya cuenta con un departamento de gestión de proyectos, pero se encontró la necesidad de implementar el IT PPM debido a su amplia cobertura de procesos End-to-End en Proyectos de IT, y la manera de asegurar la maximización de los beneficios. Con la investigación teórica y el análisis del estudio de caso, la tesis concluye con una definición práctica de un modelo aproximado IT PPM como una recomendación para su implementación en el Departamento de Gestión de Proyectos.

Income differentials and corporate performance

Purpose – This paper seeks to make the case for new research into the perceived fairness and impact of executive pay. Design/methodology/approach – The paper reviews the literature regarding executive compensation and corporate performance and examines the evidence that a more egalitarian approach to pay could be justified in terms of long-term shareholder value. Findings – There would appear to be no evidence to suggest that the growing gap between the pay of executives and that of the average employee generates long-term enterprise value, and it may even be detrimental to firms, if not the liberal capitalist consensus on which the corporate licence to operate is based. Research limitations/implications – The paper outlines a new approach to tracking income differentials with corporate performance through the development of a corporate Gini coefficient “league table”. Social implications – The proposed research is expected to point towards better practice in executive remuneration, and support the growing momentum for a sustainable and enlightened approach to business, in which the key goal is long-term enterprise value based on a fair distribution of the rewards of business. Originality/value – In producing a deeper understanding of the impact of widening income differentials, the paper should be of interest to senior executives in publicly quoted companies as well as press commentators, government officials and academics.

The valuation of self-funded retirement villages in Australia

Changing demographics will see an increasing demand for self-funded sector retirement villages in Australia. As such, valuers can expect to be more involved in providing valuation advice in this sector, although the central issue remains that retirement villages are complex businesses. They have been described as management intensive operating businesses with a substantial real estate element. As a result the valuation process in this sector requires a different type of analysis, in comparison to the traditional real estate based investment.
This paper provides an analysis of recent trends in the demand for retirement villages and examine current practise with respect to valuation thereof. It emphasises the need for a greater awareness of the ‘business enterprise value’ component and provides a framework within which the components of value can be better understood. The purpose of the paper is to provide a foundation for a greater reliability with respect to valuation advice.

O efeito da diversificação no valor das empresas: um estudo do caso brasileiro

Nesta dissertação, mostramos evidências de que a diversificação e o valor das empresas aparentam ser negativamente correlacionados. Esta relação é observada para diferentes métricas de diversificação e se mantém mesmo quando controlamos o efeito de outras variáveis conhecidas por influenciar o valor das empresas. Nossa análise não conseguiu comprovar de forma robusta se o efeito negativo causado pela diversificação diminui na medida em que esta se dá em segmentos mais relacionados. No entanto há indícios de que esta hipótese seja de fato verdadeira Um resultado interessante observado foi que assim como empresas especializadas, as empresas altamente diversificadas também possuem uma alta percepção de valor. Mostramos que a relação entre valor e diversificação possui o perfil de uma curva côncava com um ponto de mínimo justamente no nível de diversificação intermediário. Por fim, observamos que o efeito da diversificação no valor das empresas nos anos de 2008 e 2007 passou a ser positivo. O que nos sugere que em tempos de crise econômica, a percepção do valor de empresas mais diversificadas aumenta de forma significativa.

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Power relations and small and medium-sized enterprise strategies for capturing value in global production networks: visual effects (VFX) service firm in the Hollywood film industry

Power relations and small and medium-sized enterprise strategies for capturing value in global production networks: visual effects (VFX) service firms in the Hollywood film industry, Regional Studies. This paper provides insights into the way in which non-lead firms manoeuvre in global value chains in the pursuit of a larger share of revenue and how power relations affect these manoeuvres. It examines the nature of value capture and power relations in the global supply of visual effects (VFX) services and the range of strategies VFX firms adopt to capture higher value in the global value chain. The analysis is based on a total of thirty-six interviews with informants in the industry in Australia, the United Kingdom and Canada, and a database of VFX credits for 3323 visual products for 640 VFX firms.

A technology diffusion perspective of Enterprise Resource Planning across European Small and Medium Enterprises: from determinants to Use to Value

Tese apresentada como requisito parcial para obtenção do grau de Doutor em Gestão de Informação