ACE research vignette 004 : growing profitable or growing from profits?

This series of research vignettes is aimed at sharing current and interesting research findings from our team of international Entrepreneurship researchers. In this vignette, Professor Per Davidsson considers some of the dynamics associated with firm growth.

Growing profitable or growing from profits : putting the horse in front of the cart?

Top lists of and praise for the economy's fastest growing firms abound in business media around the world. Similarly, in academic research there has been a tendency to equate firm growth with business success. This tendency appears to be particularly pronounced in-but not confined to­ entrepreneurship research. In this study we critically examine this tendency to portray firm growth as more or less universally favorable. While several theories suggest that growth drives profitability we first show that the available empirical evidence does not support the existence of a general, positive relation­ ship between growth and profitability. Using the theoretical lens of the Resource-Based View (RBV) we then argue that sound growth usually starts with achieving sufficient levels of profitability. In summary, our theoretical argument is as follows: In a population of SMEs, superior profitability is likely to be indicative of having built a resource-based competitive advantage. Building such a valuable and hard to-copy advantage may at first constrain growth. However, the underlying advantage itself and the financial resources generated through high profitability make it possible for firms in this situation to now achieve sound and sustainable growth - which may require building a series of temporary advantages- without having to sacrifice profitability. By contrast, when firms strive for high growth starting from low profitability, the latter often indicates lack of competitive advantage. Therefore growth must be achieved in head-to-head competition with equally attractive alternatives, leading to profitability deterioration rather than improvement. In addition, these low profitability firms are unlikely to be able to finance strategies toward building valuable and difficult-to-imitate advantages while growing.

Surprising arching sheet-like dendrites growing from BaF2 nanocubes

BaF2 nanocubes were prepared from quaternary reverse micelles of cetyl trimethyl ammonium bromide (CTAB), n-butanol, n-octane, and water. Interestingly, there are arching sheet-like dendrites growing between two neighbouring sides of these cubes. X-ray powder diffraction (XRD) analysis showed that the products were BaF2 single phase. Scanning electron microscopy (SEM) or transition electron microscopy (TEM) was used to estimate the size of the final products. The results showed that the shape and size of particles were strongly dependent on the reaction conditions, such as the temperature and reaction time. When the reaction temperature was 25 degreesC, we obtained cuboid-like particles with 'clean' surfaces (no dendrites growing on them), and when the temperature was 35 degreesC, we obtained nanocubes with dendrites growing from them between the neighbouring sides. The influence of reaction time at a temperature of 35 degreesC is also discussed.

Ice crystals growing from vapor in supercooled clouds between −2.5° and −22°C: testing current parameterization methods using laboratory data

The physical and empirical relationships used by microphysics schemes to control the rate at which vapor is transferred to ice crystals growing in supercooled clouds are compared with laboratory data to evaluate the realism of various model formulations. Ice crystal growth rates predicted from capacitance theory are compared with measurements from three independent laboratory studies. When the growth is diffusion- limited, the predicted growth rates are consistent with the measured values to within about 20% in 14 of the experiments analyzed, over the temperature range −2.5° to −22°C. Only two experiments showed significant disagreement with theory (growth rate overestimated by about 30%–40% at −3.7° and −10.6°C). Growth predictions using various ventilation factor parameterizations were also calculated and compared with supercooled wind tunnel data. It was found that neither of the standard parameterizations used for ventilation adequately described both needle and dendrite growth; however, by choosing habit-specific ventilation factors from previous numerical work it was possible to match the experimental data in both regimes. The relationships between crystal mass, capacitance, and fall velocity were investigated based on the laboratory data. It was found that for a given crystal size the capacitance was significantly overestimated by two of the microphysics schemes considered here, yet for a given crystal mass the growth rate was underestimated by those same schemes because of unrealistic mass/size assumptions. The fall speed for a given capacitance (controlling the residence time of a crystal in the supercooled layer relative to its effectiveness as a vapor sink, and the relative importance of ventilation effects) was found to be overpredicted by all the schemes in which fallout is permitted, implying that the modeled crystals reside for too short a time within the cloud layer and that the parameterized ventilation effect is too strong.

From shell to show room : a compendium of useful information covering every phase of poultry growing from the egg to maturity /

Mode of access: Internet.

X-ray Topographic Assessment of Dislocations in Crystals Grown from Solution

Crystals growing from solution, the vapour phase and from supercooled melt exhibit, as a rule, planar faces. The geometry and distribution of dislocations present within the crystals thus grown are strongly related to the growth on planar faces and to the different growth sectors rather than the physical properties of the crystals and the growth methods employed. As a result, many features of generation and geometrical arrangement of defects are common to extremely different crystal species. In this paper these commoner aspects of dislocation generation and configuration which permits one to predict their nature and distribution are discussed. For the purpose of imaging the defects a very versatile and widely applicable technique viz. x-ray diffraction topography is used. Growth dislocations in solution grown crystals follow straight path with strongly defined directions. These preferred directions which in most cases lie within an angle of ±15° to the growth normal depend on the growth direction and on the Burger's vector involved. The potential configuration of dislocations in the growing crystals can be evaluated using the theory developed by Klapper which is based on linear anisotropic elastic theory. The preferred line direction of a particular dislocation corresponds to that in which the dislocation energy per unit growth length is a minimum. The line direction analysis based on this theory enables one to characterise dislocations propagating in a growing crystal. A combined theoretical analysis and experimental investigation based on the above theory is presented.

Passionfruit growing guide - Second edition

This edition of 'The passionfruit growing guide' is a substantial update of the first edition, which was published in 2006. Each chapter deals with a specific aspect of the development and management of a passionfruit plantation. This guide is intended for use by prospective, new and established growers and addresses all aspects of passionfruit growing, from site selection and planning through to harvesting and marketing the fruit. It provides practical advice and propogation, fertilising, irrigation, and pest disease and control. Also, it includes information on varieties of passionfruit, financial budgets, chemicals registered for use on passionfruit and useful contacts.

Sexual differentiation and gonad development in striped mullet (Mugil cephalus L.) from South Carolina estuaries*

This study examined the sexual differentiation and reproductive dynamics of striped mullet (Mugil cephalus L.) in the estuaries of South Carolina. A total of 16,464 specimens were captured during the study and histological examination of sex and maturity was performed on a subsample of 3670 fish. Striped mullet were sexually undifferentiated for the first 12 months, began differentiation at 13 months, and were 90% fully differentiated by 15 to 19 months of age and 225 mm total length (TL). The defining morphological characteristics for differentiating males was the elongation of the protogonial germ tissue in a corradiating pattern towards the center of the lobe, the development of primary and secondary ducts, and the lack of any recognizable ovarian wall structure. The defining female characteristics were the formation of protogonial germ tissue into spherical germ cell nests, separation of a tissue layer from the outer epithelial layer of the lobe-forming ovarian walls, a tissue bud growing from the suspensory tissue that helped form the ovary wall, and the proliferation of oogonia and oocytes. Sexual maturation in male striped mullet first occurred at 1 year and 248 mm TL and 100% maturity occurred at age 2 and 300 mm TL. Female striped mullet first matured at 2 years and 291 mm total length and 100% maturity occurred at 400 mm TL and age 4. Because of the open ocean spawning behavior of striped mullet, all stages of maturity were observed in males and females except for functionally mature females with hydrated oocytes. The spawning season for striped mullet recruiting to South Carolina estuaries lasts from October to April; the majority of spawning activity, however, occurs from November to January. Ovarian atresia was observed to have four distinct phases. This study presents morpholog ical analysis of reproductive ontogeny in relation to size and age in South Carolina striped mullet. Because of the length of the undifferentiated gonad stage in juvenile striped mullet, previous studies have proposed the possibility of protandric hermaphrodism in this species. The results of our study indicate that striped mullet are gonochoristic but capable of exhibiting nonfunctional hermaphroditic characteristics in differentiated mature gonads.

Energy: lessons from devolution

Geraint Ellis and Richard Cowell explain the findings of the ‘Delivering renewable energy under devolution’ project, including some reasons for Scotland’s lead.

The UK has seen massive increases in renewable energy since 1998, with installed capacity growing from 2,600 MW to 12,300 MW in 2011. This has coincided with devolution and it is within Northern Ireland, Scotland and Wales that the greatest increases have been seen.

As devolved administrations now host half of the UK’s renewable energy capacity, their policies are critical to achieving the broader UK targets. This also provides a fascinating insight into what sort of approach works best, and why. This has been the focus of a two-year study, funded by the Economic and Social Research Council, involving universities from across the UK, which indicates that Scotland is leading the way on renewable energy.

All devolved governments have offered significant support to renewable energy but have different degrees of powers in relation to energy. Scotland’s success seems to be based on the centrality of energy issues to current political aspirations, particularly the SNP, but also has cross-party support. The research suggests that the consensus on the importance of renewable energy amongst élite interests in Scotland helps to explain why Scottish governments have been empowered and enabled to make robust use of the powers available.

As it has achieved successful growth in the sector, this too helps cultivate credibility among key business interests and gives increased leverage to its position in policy discussions with the UK Government. Scotland has been more consistent over time in presenting the expansion of renewable energy as a national economic agenda, rather than just an environmental or rural development agenda. The availability of larger, windy, but relatively less contested sites for onshore wind in Scotland has meant that more projects went through central consenting procedures rather than local planning authorities. Its enhanced support for wave and tidal power technologies is also notable. These political conditions have been harder to find in the rest of the UK, making progress a little more uncertain.

Northern Ireland has used its powers (which are more extensive than Scotland’s) to facilitate small-scale renewables and bio-fuel processes, with its liberalised planning regime offering an initial boost to expanding capacity.

This has contrasted with the position in Wales, which has least control over energy but the Welsh Government has adopted a more innovative approach to strategic spatial zoning; this appears to have pulled in a larger volume of onshore wind development interest than could be expected in a comparable region of England. A downside of the Welsh approach appears to be the fact that the concentration of these wind projects in these zones has triggered public opposition and political conflict.

It therefore appears that the powers available to the devolved governments do not seem to determine which country has been able to make greatest headway, with broader political commitments being more significant. Despite this, the research does not conclude that the actions and activities undertaken by the devolved governments are necessarily the most important factors in shaping the development of renewable energy in the UK. This is because devolution is still a relatively new dimension of energy governance in the UK and decisions affecting key drivers for renewable energy investment are still made mainly in Westminster, with the Treasury exercising close budgetary control. In all areas of the UK, grid capacity expansion remains slow to achieve. The major growth in offshore wind to date has been driven mainly by Westminster and cross-UK bodies with the most significant capacity growth being in English territorial waters.

Palisada flagellifera (Ceramiales, Rhodophyta) from the Canary Islands, Spain: a new record for the eastern Atlantic Ocean based on morphological and molecular evidence

Palisada flagellifera (Ceramiales, Rhodophyta) is recorded for the first time in the eastern Atlantic Ocean off Tenerife, La Gomera, La Palma and Fuerteventura, Canary Islands, Spain. The specimens were collected in 2006-2009 growing from the lower intertidal to subtidal zones to 2 m depth at sites exposed to wave action. The species possesses a palisade-like arrangement of cortical cells in cross section, lacks secondary pit connections between them, and has tetrasporangia produced by three fertile pericentral cells (the third and the fourth additional and the second that becomes fertile), and a right-angled arrangement of tetrasporangia. Gametangia were not observed. The phylogenetic relationships were inferred by analyses of the chloroplast-encoded rbcL gene sequences from 46 taxa. The Canarian and Brazilian P. flagellifera specimens formed a highly supported clade with a low level of genetic variation in the rbcL sequences (0.02-0.04%), confirming that they are the same taxonomic entity. This study expands the geographical distribution of P. flagellifera to the eastern Atlantic Ocean.

Custos da irrigação e receita líquida do feijoeiro em um sistema pivô central sob variação do comprimento da tubulação de recalque e desnível topográfico

Neste trabalho, foi simulado o custo da irrigação de um sistema tipo pivô central com diferentes comprimentos da tubulação de recalque e desníveis topográficos na produção do feijoeiro comum, na região de Ilha Solteira -SP, bem como sua receita líquida. Considerou-se uma área irrigada pelo equipamento de 103,58 ha, sendo sua configuração a mais econômica possível para as variáveis consideradas. A participação da irrigação no custo de produção do feijoeiro variou de 14,8 a 21,5% entre as condições extremas, ou seja, do menor desnível topográfico (40 m) e comprimento da tubulação de recalque (2.000 m) ao maior desnível (80 m) e comprimento (3.000 m). em todas as configurações do sistema de irrigação e com os preços praticados em agosto de 2008 ou com o preço histórico médio, seria viável a cultura do feijoeiro, proporcionando rendas líquidas de até R$ 3.959,64 ha-1 e até R$ 1.203,14 ha-1, respectivamente.

An investigation of the lived experiences of Intensive Care Paramedics

Intensive Care Paramedics (ICPs) attend to only the most clinically challenging of emergency medical cases, often working in a chaotic and frenetic atmosphere. They are regularly exposed to human tragedy and with that, the potential to experience traumatic events is not uncommon. There is very little known about the well-being of ICPs; how they cope with the demands of their role, or about their mental health in general. Nineteen experienced ICPs (4 female, 15 male) participated in a semi-structured interview. Themes were extracted from the data using an Interpretive Phenomenological Analysis approach. All participants discussed a work-related event they attended that traumatized them, usually experienced in the earlier parts of their career. Some spoke of an immediate overwhelming of their capacity to cope and others of a gradual onset of traumatic stress when reflecting on the event at a later time. More than half of the participants described events that involved children as the most difficult. Data revealed four superordinate themes: Social Support, Cognitive Coping, Proactive Coping, and Long Term Effects. Each superordinate theme comprised a number of constituent themes which are presented in this paper and exemplified with participant quotes. Although ongoing distress was described by some participants, all of the ICPs interviewed discussed positive aspects of their job; things that made the role worthwhile and fulfilling. This research highlights the important factors involved in coping with, and growing from, the extraordinary events that ICPs face. Results have implications for employing organizations and staff support services as well as for paramedics more broadly as they learn to cope with events inherent in their career. Findings indicate that positive adaptation and personal growth as a result of exposure to extremely high levels of potentially traumatic experiences is not only possible, but highly probable.

Expectativas e implicación educativa de las familias inmigrantes de escolares en educación primaria de la CAPV: bases para la intervención educativa

596 p.: graf.

A Finite Element Analysis of a Crack Penetrating or Deflecting into an Interface in a Thin Laminate

The crack tip driving force of a crack growing from a pre-crack that is perpendicular to and terminating at an interface between two materials is investigated using a linear fracture mechanics theory. The analysis is performed both for a crack penetrating the interface, growing straight ahead, and for a crack deflecting into the interface. The results from finite element calculations are compared with asymptotic solutions for infinitesimally small crack extensions. The solution is found to be accurate even for fairly large amounts of crack growth. Further, by comparing the crack tip driving force of the deflected crack with that of the penetrating crack, it is shown how to control the path of the crack by choosing the adhesion of the interface relative to the material toughness.

Growth of GaSb and GaInAsSb layers for thermophotovolatic cells by liquid phase epitaxy - art. no. 68411E

GaSb based cells as receivers in thermophotovoltaic system have attracted great interest and been extensively studied in the recent 15 years. Although nowadays the manufacturing technologies have made a great progress, there are still some details need to make a further study. In this paper, undoped and doped GaSb layers were grown on n-GaSb (100) substrates from both Ga-rich and Sb-rich solutions using liquid phase epitaxy (LPE) technique. The nominal segregation coefficients k of intentional doped Zn were 1.4 and 8.8 determined from the two kinds of GaSb epitaxial layers. Additionally, compared with growing from Ga-rich solutions, the growing processes from Sb-rich solutions were much easier to control and the surface morphologies of epitaxial layers were smoother. Further-more, in order to broaden the absorbing edge, Ga1-xInxAsySb1-y quaternary alloys were grown on both GaSb and InAs substrates from In-rich solutions, under different temperature respectively.