Bala Chakravarthy and Peter Lorange
Strategic renewal requires both a top‐down and bottom‐up effort. Top management sets the broad vision for the firm and specifies the scope and pace of renewal. However, it is the…
Abstract
Purpose
Strategic renewal requires both a top‐down and bottom‐up effort. Top management sets the broad vision for the firm and specifies the scope and pace of renewal. However, it is the firm's entrepreneur‐managers who shape its renewal strategies and take responsibility for their implementation. This paper aims to profile the skills, personal traits and experiences of successful entrepreneur‐managers.
Design/methodology/approach
The paper uses field research.
Findings
The paper finds that entrepreneur‐managers are in part corporate entrepreneurs. They are outward‐focused, cognizant of changes in their business environment and the new opportunities that these may bring. They are willing to experiment with new business models and to explore new capabilities. But they are also operating managers interested in scaling up an entrepreneurial idea and in delivering results. They have a few special personality traits. They are not risk averse and are action oriented. They are also supremely self‐confident. These traits allow entrepreneur‐managers to take risks, persist despite failures and learn from their mistakes. However, more than special traits, it is experience that grooms entrepreneur‐managers in a firm. Entrepreneur‐managers are typically not new comers to the organization. Their long tenure helps with networking inside the firm. They also have an established track record of performing well. That buys them the freedom to operate outside the usual confines of the organization and enjoy the trust that is needed to take risks on behalf of the firm.
Research limitations/implications
Like in any field‐based study, the sample size is a limitation. However, for the modest goal that this paper has set for itself, i.e. profiling the entrepreneur‐manager, this is not a severe limitation.
Practical implications
The paper provides a profile for identifying and nurturing entrepreneur‐managers. As it argues, they are the drivers of strategic renewal within the firm.
Originality/value
Prior empirical and theoretical research on intrapreneurship has focused more on creating distinct new corporate ventures. This article suggests that the real power of intrapreneurship is to help connect the future of the firm with its current core businesses. Intrapreneurship is about leverage and build, more so than transform, to use the three types of renewal strategies that are offered in this article.
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Ian Dow, Begum Sertyesilisik and Andrew David Ross
The purpose of this paper is to identify how much particular variables influence the cost differences between order values and final accounts for certain trade subcontractors.
Abstract
Purpose
The purpose of this paper is to identify how much particular variables influence the cost differences between order values and final accounts for certain trade subcontractors.
Design/methodology/approach
The methodology consists of a literature survey and a case study. A sample of 33 projects, undertaken by a contracting organisation, are analysed as a basis for testing their significance.
Findings
For highly asset specific transactions the research suggests that the level of variables which can affect their performance is greatest, suggesting integration within the contracting firm to mitigate the threat of opportunistic behaviour. Procurement route utilised on a project was strongly linked to outturn cost performance, as is inclusion in the tender bid, suggesting earlier subcontractor involvement through design and build and partnering arrangements is significantly better at managing subcontractor cost performance than traditional routes.
Originality/value
The market volatility of the construction industry has meant the procurement of subcontractors has long been established as an important part of the project coalition. Transaction cost economic theory has recently become popular within the construction research industry. Much of this research has examined the vertical boundaries to which a construction firm is subjected when considering integration of trades or continued use of subcontractors. Empirical data on the cost performance of subcontractors within a project environment are not widely available. For this reason, this research aids practitioners and researchers by identifying why particular variables influence the cost differences between order values and final accounts for certain trade subcontractors.
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Man has been seeking an ideal existence for a very long time. In this existence, justice, love, and peace are no longer words, but actual experiences. How ever, with the American…
Abstract
Man has been seeking an ideal existence for a very long time. In this existence, justice, love, and peace are no longer words, but actual experiences. How ever, with the American preemptive invasion and occupation of Afghanistan and Iraq and the subsequent prisoner abuse, such an existence seems to be farther and farther away from reality. The purpose of this work is to stop this dangerous trend by promoting justice, love, and peace through a change of the paradigm that is inconsistent with justice, love, and peace. The strong paradigm that created the strong nation like the U.S. and the strong man like George W. Bush have been the culprit, rather than the contributor, of the above three universal ideals. Thus, rather than justice, love, and peace, the strong paradigm resulted in in justice, hatred, and violence. In order to remove these three and related evils, what the world needs in the beginning of the third millenium is the weak paradigm. Through the acceptance of the latter paradigm, the golden mean or middle paradigm can be formulated, which is a synergy of the weak and the strong paradigm. In order to understand properly the meaning of these paradigms, however, some digression appears necessary.
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Satish Mohan, Alan Hutson, Ian MacDonald and Chung Chun Lin
This paper uses statistical analyses to quantify the effects of five major macroeconomic indicators, namely crude oil price, 30-year mortgage interest rate (IR), Consumer Price…
Abstract
Purpose
This paper uses statistical analyses to quantify the effects of five major macroeconomic indicators, namely crude oil price, 30-year mortgage interest rate (IR), Consumer Price Index (CPI), Dow Jones Industrial Average (DJIA), and unemployment rate (UR), on housing prices over time.
Design/methodology/approach
Housing price is measured as housing price index (HPI) and is treated as a variable affecting itself. Actual housing sale prices in the Town of Amherst, New York State, USA, 1999-2008, and time-series data of the macroeconomic indicators, 2000-2017, were used in a vector autoregression statistical model to examine the data that show the greatest statistical significance and exert maximum quantitative effects of macroeconomic indicators on housing prices.
Findings
The analyses concluded that the 30-year IR and HPI have statistically significant effects on housing prices. IR has the highest effect, contributing 5.0 per cent of variance in the first month to 8.5 per cent in the twelfth. The UR has the next greatest influence followed by DJIA and CPI. The disturbance from HPI itself causes the greatest variability in future prices: up to 92.7 per cent in variance 1 month ahead and approximately 74.5 per cent 12 months ahead. This result indicates that current changes in house prices heavily influence people’s expectation of future prices. The total effect of the error variance of the macroeconomic indicators ranged from 7.3 per cent in the first month to 25.5 per cent in the twelfth.
Originality/value
The conclusions in this paper, along with related tables and figures, will be useful to the housing and real estate communities in planning their business for the next years.
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Yaw A. Debrah and Ian G. Smith
Presents over sixty abstracts summarising the 1999 Employment Research Unit annual conference held at the University of Cardiff. Explores the multiple impacts of globalization on…
Abstract
Presents over sixty abstracts summarising the 1999 Employment Research Unit annual conference held at the University of Cardiff. Explores the multiple impacts of globalization on work and employment in contemporary organizations. Covers the human resource management implications of organizational responses to globalization. Examines the theoretical, methodological, empirical and comparative issues pertaining to competitiveness and the management of human resources, the impact of organisational strategies and international production on the workplace, the organization of labour markets, human resource development, cultural change in organisations, trade union responses, and trans‐national corporations. Cites many case studies showing how globalization has brought a lot of opportunities together with much change both to the employee and the employer. Considers the threats to existing cultures, structures and systems.
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This article’s indented contribution is to provide novel theoretical insights and empirical observations on “who gets what” in the way of incomes, including wages. The article…
Abstract
This article’s indented contribution is to provide novel theoretical insights and empirical observations on “who gets what” in the way of incomes, including wages. The article challenges the conventional wisdom about stratification, especially power and status, as an outcome or function of economic distribution. It posits that income distribution is conditional on pre‐existing social stratification expressed in antecedent differences in class, power, status and related factors.
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Laszlo Hetey, Eddy Neefs, Ian Thomas, Joe Zender, Ann-Carine Vandaele, Sophie Berkenbosch, Bojan Ristic, Sabrina Bonnewijn, Sofie Delanoye, Mark Leese, Jon Mason and Manish Patel
This paper aims to describe the development of a knowledge management system (KMS) for the Nadir and Occultation for Mars Discovery (NOMAD) instrument on board the ESA/Roscosmos…
Abstract
Purpose
This paper aims to describe the development of a knowledge management system (KMS) for the Nadir and Occultation for Mars Discovery (NOMAD) instrument on board the ESA/Roscosmos 2016 ExoMars Trace Gas Orbiter (TGO) spacecraft. The KMS collects knowledge acquired during the engineering process that involved over 30 project partners. In addition to the documentation and technical data (explicit knowledge), a dedicated effort was made to collect the gained experience (tacit knowledge) that is crucial for the operational phase of the TGO mission and also for future projects. The system is now in service and provides valuable information for the scientists and engineers working with NOMAD.
Design/methodology/approach
The NOMAD KMS was built around six areas: official documentation, technical specifications and test results, lessons learned, management data (proposals, deliverables, progress reports and minutes of meetings), picture files and movie files. Today, the KMS contains 110 GB of data spread over 11,000 documents and more than 13,000 media files. A computer-aided design (CAD) library contains a model of the full instrument as well as exported sub-parts in different formats. A context search engine for both documents and media files was implemented.
Findings
The conceived KMS design is basic, flexible and very robust. It can be adapted to future projects of a similar size.
Practical implications
The paper provides practical guidelines on how to retain the knowledge from a larger aerospace project. The KMS tool presented here works offline, requires no maintenance and conforms to data protection standards.
Originality/value
This paper shows how knowledge management requirements for space missions can be fulfilled. The paper demonstrates how to transform the large collection of project data into a useful tool and how to address usability aspects.
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Purpose – The objective of this chapter is to examine and provide new perspectives on the contributions of public and private R&D to biotech crop improvement.Methodology/approach…
Abstract
Purpose – The objective of this chapter is to examine and provide new perspectives on the contributions of public and private R&D to biotech crop improvement.
Methodology/approach – The chapter examines a set of topics that have affected the way that research is undertaken on plant germplasm improvement and how it has changed with the genetically modified (GM) trait revolution.
Findings – Although the basic science providing the foundations for GM crops was undertaken in the public sector, GM traits and GM crop varieties have been developed almost exclusively by the private sector. The biotech events leading to GM traits are currently being developed largely by five companies – all having ties to both the chemical and the seed industries. The GM crop revolution started in North American in 1996 and has spread slowly to the largest developing countries that have large agricultural sectors, including Argentina, China, Brazil, and India, but not to Europe or Japan.
Practical implication – To shed new light on the economic reasons for private sector dominance in GM crop varietal development in selected crops but not in others.
Social implication – Shows how GM traits have contributed to technical change and declining real food prices.