Practical Advice to Entrepreneurs Series by ACE Adjunct Professor Dean Shepherd: Practical advice on pulling the plug on a failing business

The author, Dean Shepherd, is of entrepreneurship—how entrepreneurs think, decide to act, and feel. He recently realized that while his publications in academic journals have implications for entrepreneurs, those implications have remained relatively hidden in the text of the articles and hidden in articles published in journals largely inaccessible to those involved in the entrepreneurial process. This series is designed to bring the practical implications of his research to the forefront.

Practical Advice for Entrepreneurs

I am interested in the psychology of entrepreneurship—how entrepreneurs think, decide to act, and feel. I recently realized that while my publications in academic journals have implications for entrepreneurs, those implications have remained relatively hidden in the text of the articles and hidden in articles published in journals largely inaccessible to those involved in the entrepreneurial process. This book is designed to bring the practical implications of my research to the forefront. I decided to take a different approach with this book and not write it for a publisher. I did this because I wanted the ideas to be freely available: (1) I wanted those interested in practical advice for entrepreneurs to be able to freely download, distribute, and use this information (I only ask that the content be properly cited), (2) I wanted to release the chapters independently and make chapters available as they are finished, and; (3) I wanted this work to be a dialogue rather than a one-way conversation—I hope readers email me feedback (positive and negative) so that I can use this information to revise the book. In producing the journal articles underpinning this book, I have had the pleasure of working with many talented and wonderful colleagues—they are cited at the end of each chapter. I hope you find some of the advice in this book useful.

Closing the cultural distance gap: managing value-based knowledge in MNC by using MEP

Today more than ever, generating and managing knowledge is an essential source of competitive advantage for every organization, and particularly for Multinational corporations (MNC). However, despite the undisputed agreement about the importance of creating and managing knowledge, there are still a large number of corporations that act unethically or illegally. Clearly, there is a lack of attention in gaining more knowledge about the management of ethical knowledge in organizations. This paper refers to value-based knowledge, as the process of recognise and manage those values that stand at the heart of decision-making and action in organizations. In order to support MNCs in implementing value-based knowledge process, the managerial ethical profile (MEP) has been presented as a valuable tool to facilitate knowledge management process at both the intra-organizational network level and at the inter-organizational network level.

Closing the gap : the next steps for the interaction of corporate reputation and psychological contract development

With an increasing body of literature linking the human resource management and marketing fields, one area receiving increased academic attention is how an organisation’s corporate reputation can be managed to attract potential recruits and shape their employment expectations through their psychological contracts. This paper seeks to enhance current models which focus on the interrelationship of corporate reputation and psychological contract theory. It is argued that a number of factors need to be considered in order the build a firmer foundation for such a theory. Firstly, a common understanding of the psychological contract needs to be established such that the focus on either expectations or promises is clarified. Secondly, the included components of the psychological contract need to be considered in light of their empirical founding and their relationship with one another. Thirdly, the interrelationship of corporate reputation, employer branding, identity and image needs to be explicated within the context of how they both influence and interrelate with the psychological contract. The final consideration surrounds the opportunity for potential employees to be considered within the corporate reputation literature as a significant stakeholder group.

Closing the gap between copyright and designs : an age of enlightnement or state of confusion?

The arena of intellectual property encompasses streams that often interrelate and overlap in protecting different aspects of intellectual property. Australian commentators suggest that ‘one of the most troublesome areas in the entire field of intellectual property has been the relationship between copyright protection for artistic works under the Copyright Act 1968 (Cth) and protection for registered designs under the Designs Act 1906 (Cth).’ [McKeough, J., Stewart, A., & Griffith, P. (2004). Intellectual property in Australia (3rd ed.). Chatswood, NSW: Butterworths.] [Ricketson, S., Richardson, M., & Davison, M. (2009). Intellectual property: Cases, materials and commentary (4th ed.). Chatswood, NSW: LexisNexis Butterworths.] This overlap has caused much confusion for both creators of artistic works and industrial designs, as there is an uncertainty of whether protection against infringement is afforded under the Copyright Act 1988 (Cth) or whether the Designs Act 2003 (Cth) will apply. In Australia, there is limited precedent that examines the crossover between copyright and designs. Essentially, the cases that have tested this issue remain unclear as to whether a design applied industrially will invoke copyright protection. The cases demonstrate that there is an inconsistency in this area despite the aims of the new provisions of the Designs Act 2003 (Cth) to close the loopholes between copyright and designs. This paper will discuss and evaluate the relationship between copyright protection for artistic works and protection for registered designs with respect to the Designs Act 2003 (Cth).

Ticking the box and closing the loop: Can dialogue be mandated?

Dialogue is a spontaneous, free-flowing, and untrammeled form of two-way communication between participants who respect, trust, and empathize with each other. Its ethical superiority and effectiveness in bringing participants together mean it is an important aspect of organizational responses to increasingly-empowered stakeholders. But what happens when dialogue is legally mandated between participants who view each other as a problem, if not actually the enemy? When dialogue is perceived as a contest with the winner securing the prize of dictating organizational behavior? Is this – can this ever be – dialogue? Sometimes what happens in the name of dialogue is far from dialogic, and ‘dialogue’ is reduced to ticking a box on a form, or closing a communication loop. This challenges those very characteristics that are the basis of dialogue’s claim to superiority. This conclusion demonstrates the need for a radical reconsideration of both the theory and practice of dialogue in public relations.

A preliminary analysis of Australian Government’s Indigenous reform agenda ‘Closing the Gap’ and corporate accountability

This chapter provides a preliminary analysis of Australian Government’s reform agenda popularly known as ‘Closing the Gap’.” Closing the Gap” sets a commitment by all Australian governments to improve the lives of Indigenous Australians, and in particular provide a better future for indigenous children. This article discusses how the coalition of Australian Governments prepared this agenda and how this program involves Australian corporations in this task. Our observations suggest that another reform is required for the government to mandate corporate involvement and contribution to this reform agenda.

Medicina tecnológica, cuidado e business: estudo sobre a prática dos médicos oncologistas no Brasil

Esta tese consiste em um estudo sobre o trabalho e a prática médica observados a partir do tipo ideal Werberiano da medicina tecnológica qual seja: a prática médica especializada, equipada e fragmentada, que começou a ser exercida no Brasil apartir nos anos sessenta. Elegemos para esse estudo médicos oncologistas clínicos inseridos em serviços públicos e privados de saúde. A eleição dos oncologistas clínicos se deu pelo reconhecimento da oncologia como uma prática muito especializada e amparada por equipamentos e procedimentos que se fortaleceu no Brasil na década de sessenta.Pretendeu-se compreender as singularidades dessa prática focalizando a formação, o tipo de cuidado ofertado aos pacientes, a inserção dos médicos no mercado público e privado e a relação entre eles. Inicia-se com uma abordagem geral da prática médica baseada no saber sobre as doenças, no processo histórico e cultural da apreensão desta prática e suas repercussões na sociedade e no mercado de trabalho. Em seguida apresentamos uma revisão sumária da trajetória da oncologia no Brasil, a representação social do câncer, as políticas de saúde da área e a relação entre os médicos, o estado e a sociedade nesse campo. Esse conjunto foi caracterizado como Projeto Médico Oncológico.Utilizou-se, no trabalho de campo, a pesquisa qualitativa e empregou-se como técnica entrevistas com seis profissionais médicos oncologistas que trabalham no Instituto Nacional do Câncer e no setor privado de saúde. Foi realizada uma entrevista piloto visando apresentar na íntegra os temas abordados nas demais entrevistas. A partir do olhar e das reflexões dos médicos são apresentadas quatro categorias para discussão e considerações. Finalizando o estudo apresenta através das categorias obtidas no trabalho de campo uma problematização do modelo idealizado na medicina tecnológica.

The interaction between master production scheduling and detailed capacity requirements planning : closing the loop in manufacturing resource planning (MRPII) systems

The widespread implementation of Manufacturing Resource Planning (MRPII) systems in this country and abroad and the reported dissatisfaction with their use formed the initial basis of this piece of research which concentrates on the fundamental theory and design of the Closed Loop MRPII system itself. The dissertation concentrates on two key aspects namely; how Master Production Scheduling is carried out in differing business environments and how well the `closing of the loop' operates by checking the capcity requirements of the different levels of plans within an organisation. The main hypothesis which is tested is that in U.K. manufacturing industry, resource checks are either not being carried out satisfactorily or they are not being fed back to the appropriate plan in a timely fashion. The research methodology employed involved initial detailed investigations into Master Scheduling and capacity planning in eight diverse manufacturing companies. This was followed by a nationwide survey of users in 349 companies, a survey of all the major suppliers of Production Management software in the U.K. and an analysis of the facilities offered by current software packages. The main conclusion which is drawn is that the hypothesis is proved in the majority of companies in that only just over 50% of companies are attempting Resource and Capacity Planning and only 20% are successfully feeding back CRP information to `close the loop'. Various causative factors are put forward and remedies are suggested.

Devizás tételek értékelése. A számviteli szabályozás és a gazdálkodók döntéseinek összefüggései (Exchange differences from accounting perspective – regulation and business decision)

Az elmúlt években hazánkban a svájcifrank- és a japánjen-alapú hitelezés gyakorlatilag megszűnt, a devizaalapú hitelek folyósításának feltételei szigorodtak, a már meglévő portfólió romlott, a hitelezők által elszenvedett veszteség megnőtt. A számviteli előírások azonban alig változtak, azaz a jelenlegi szabályozás képes a számviteli törvény által alapvető célként megjelölt megbízható és valós kép bemutatására. A számviteli megközelítés szerint a deviza- és a devizaalapú ügyletek között nincs lényegi különbség, az aktiválási, értékelési, valamint értékvesztés-képzési szabályok megegyeznek. A probléma nagyságrendjének bemutatása után ismertetem a devizás vagyonrészek értékelésével kapcsolatos szabályok változását azok indokaival együtt. Ezután bemutatom a különféle alkalmazott árfolyamok hatásait a beszámolóra, s az alkalmazható árfolyamok és a mérlegben megjelenő devizapozíciók összefüggéseit. A devizás követelésekre képzendő értékvesztés témakörben bemutatom az év végi zárási feladatok sorrendjét, valamint a deviza- és a devizaalapú ügyletek értékvesztése közötti különbségeket is. _______ Loan fi nancing in Swiss Franc and Japanese Yen has disappeared in the last few years, fi nancing in foreign currency has become more diffi cult, while the actual loan portfolio has worsened, losses born by fi nancial institutions have increased. Despite this, the accounting prescriptions have hardly changed, which can be seen as if the current regulation is able to provide the fair and true picture. According to the accounting approach, there is no material difference between FX and FX-denominated deals: rules on the recognition in the balance sheet, valuation and loan loss provisions are identical. In this article – after highlighting the magnitude of the problem -, I introduce the changes in the rules regarding items in foreign currency and the reasons behind those changes. In the next part, I investigate the impact of application of different FX rates on the fi nancial statement and their correspondence with the FX-position reported in the Balance sheet. Later, I discuss the adequate order of the periodical accounting closing tasks, and the differences between impairment of receivables to be settled and denominated in foreign currency, or only denominated in FX with Forint Cash Flow.