This chapter discusses conceptual links among Hazel Kyrk’s A Theory of Consumption (1923), the overall work of Thorstein Veblen, and Wesley C. Mitchell’s essays on spending and…
Abstract
This chapter discusses conceptual links among Hazel Kyrk’s A Theory of Consumption (1923), the overall work of Thorstein Veblen, and Wesley C. Mitchell’s essays on spending and money. The three authors are concerned with transformations in production, related changes in the organization of consumption, and the effects on people. The approach is based on reading of Kyrk’s book in light of an integrated view of Veblen’s overall work. This chapter explains how Mitchell’s essays on money and spending built on Veblen’s work and discusses their relevance for understanding Kyrk’s book as conceptually linked to institutional economics. This chapter delineates the following commonalities: conception of living humans and money as an institution; distinction between business and industrial concerns; connection between distribution, waste, and consumption; and Veblen’s “machine process” of standardization in production and its relation to consumption. This chapter brings more detail in the conceptual and theoretical discussion of Veblen’s influence on Kyrk’s book.
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H.E. Evans, P.M. Harvey, J.L. Dabroski and G.O. Dearing
Reliability evaluations for new electronic components and assemblies regularly require extensive test cycles that are both time consuming and costly. Objectives of such test…
Abstract
Reliability evaluations for new electronic components and assemblies regularly require extensive test cycles that are both time consuming and costly. Objectives of such test batteries are to identify failure mechanisms and the relationship between these mechanisms and product design or processing features. Optimisation of these critical factors or process steps results in optimised reliability. Statistically designed experiments can facilitate the optimisation process by minimising the amount of testing needed to identify factors affecting reliability, and by providing insight into how these factors can be specified to ensure optimum product design. Designed experimentation was utilised in this study to look at product design and process factors affecting the reliability of inner leads for tape automated bonding (TAB) components. Four factors are considered: outer lead compliancy; chip immobilisation; downset; and tape stiffness and rigidity. Experimental details and results are presented which assess the relative importance of these factors in determining ultimate inner lead reliability, and also provide guidance for final product design considerations.
Travis Edward Shelton, Dylan Joseph Stelzer, Carl R. Hartsfield, Gregory Richard Cobb, Ryan P. O'Hara and Christopher D. Tommila
For many applications, including space applications, the usability and performance of a component is dependent on the surface topology of the additively manufactured part. The…
Abstract
Purpose
For many applications, including space applications, the usability and performance of a component is dependent on the surface topology of the additively manufactured part. The purpose of this paper is to present an investigation into minimizing the residual surface roughness of direct metal laser sintering (DMLS) samples by manipulating the input process parameters.
Design/methodology/approach
First, the ability to manipulate surface roughness by modifying processing parameters was explored. Next, the surface topography was characterized to quantify roughness. Finally, microthruster nozzles were created both additively and conventionally for flow testing and comparison.
Findings
Surface roughness of DMLS samples was found to be highly dependent on the laser power and scan speed. Because of unintended partially sintered particles adhering to the surface, a localized laser fluence mechanism was explored. Experimental results show that surface roughness is influenced by the varied parameters but is not a completely fluence driven process; therefore, a relationship between laser fluence and surface roughness can be incorporated but not completely assumed.
Originality/value
This paper serves as an aid in understanding the importance of surface roughness and the mechanisms associated with DMLS. Rather than exploring a more common global energy density, a localized laser fluence was initiated. Moreover, the methodology and conclusions can be used when optimizing parts via metal additive manufacturing.
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Ronnie J Phillips and Douglas Kinnear
In 1978, Philip Klein wrote about institutional economists of the Veblen-Commons-Mitchell-Ayres variety:Whatever we call ourselves, we are not given much credit generally among…
Abstract
In 1978, Philip Klein wrote about institutional economists of the Veblen-Commons-Mitchell-Ayres variety: Whatever we call ourselves, we are not given much credit generally among our fellow economists, but I think there is evidence that an ever-wider group of economists has begun to hear what we are saying and to accept a number of our premises…institutionalism must be viewed as either never having died or as being in the process of a resurrection which I suggest will endure (Klein, 1978, p. 252).Klein’s optimism seems justified by the following quote from Joseph Stiglitz’s new book, Globalization and its Discontents: Old-fashioned economics textbooks often talk about market economics as if it had three essential ingredients: prices, private property, and profits. Together with competition, these provide incentives, coordinate economic decision making, ensuring that firms produce what individuals want at the lowest possible cost. But there has also long been a recognition of the importance of institutions (Stiglitz, 2002, p. 139; emphasis in original).Klein and other original institutionalists should be buoyed when they hear such a statement from a recent Nobel Prize winner. One problem, however, is that the “old-fashioned textbooks” are still being published in 2003. The quote also raises a question: just who recognized the importance of institutions and when did they recognize it? Statements such as the above by Stiglitz irk original institutionalists, but why? Is it because he underestimates the prominence of perfect competition in current texts, because he is understating original institutionalists’ positions as “keepers of the faith,” or both? In any case, we may not be able to hoist the V(eblen)-C(ommons) banner and claim total victory but, increasingly, more of economics today is institutional economics. A recent article by Allan Schmid demonstrates that indeed though everyone is not an institutionalist in the Veblen-Commons mold, “good economists find it useful to embrace some of its various elements” (Schmid, 2001, p. 281).
Amir M. Hormozi, Gail S. Sutton, Robert D. McMinn and Wendy Lucio
Planning plays an important role in determining the degree of success realized by a new or small business. Essential elements to business success are identification of goals…
Abstract
Planning plays an important role in determining the degree of success realized by a new or small business. Essential elements to business success are identification of goals, followed by development of strategies to meet those goals. A business plan is an effective tool used by businesses to organize these goals and objectives into a coherent format. It can be defined as operating a company on paper. No matter the size or stage of development, companies use business plans to improve internal operations and to describe and market the business to potential outside financiers. A business plan should not only reflect the individuality of the new business but should also follow a standard format. This format is comprised of four major sections: introductory elements, business section, financial statements, and the appendix. This paper seeks to address that utilizing business planning as a tool will allow new or small businesses to achieve and even surpass their goals.
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Jean-Louis Ermine, Denise Bedford and Alexeis Garcia-Perez
This chapter provides a deep dive into the theory, research, and models of tacit and explicit knowledge. The authors describe knowledge flows and knowledge creation in an…
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Chapter Summary
This chapter provides a deep dive into the theory, research, and models of tacit and explicit knowledge. The authors describe knowledge flows and knowledge creation in an organization. The authors introduce Polanyi’s and Nonaka–Takeuchi’s definitions and describe Ermine’s structural model of tacit and explicit institutional knowledge capital and explicit organizational knowledge capital. Tacit and explicit knowledge are explained as organizational knowledge capital. The organizational knowledge model is presented. The chapter also describes tacit knowledge as organizational knowledge capital. Finally, the chapter addresses mapping the AIK system. The AIK model has three components, including: (1) a network of actors or knowledge community (A); (2) an information subsystem (I); and (3) the knowledge capital (K) in the system.
Antoine Hermens and Elizabeth Clarke
The purpose of this paper is to explore the role of computer based business simulations in higher education as innovative tools of teaching and learning to enhance students'…
Abstract
Purpose
The purpose of this paper is to explore the role of computer based business simulations in higher education as innovative tools of teaching and learning to enhance students' practical understanding of real business problems. Whether the integration of business simulation technologies will enable significant innovation in teaching and learning and will significantly enhance the quality and efficiency of traditional management teaching and learning methods is to be examined.
Design/methodology/approach
Previous research has established that simulations can be an effective integrative learning mechanism for the student participant seeking to understand management concepts, techniques and practices. A number of prominent training institutions have adopted simulations in order to increase business acumen, financial literacy and build competency.
Findings
The research carried out seems to confirm that simulations can be powerful, engaging, dynamic and effective teaching and learning tools. The immersive worlds of simulations can be designed to replicate actual economic, market and business events where students experiment in real time with alignment and commitment surrounding complex corporate strategies, business models and initiatives.
Originality/value
To achieve the required convergence of the business curriculum, the paper suggests that a broad‐based integrative approach needs to be adopted to overcome the silo effect of supply driven disciplinary models, which have traditionally prevailed in business education.
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Russel Poskitt and Peihong Yang
This study investigates the impact of the enhanced continuous disclosure regime introduced in December 2002 on several measures of information risk in NZX‐listed stocks. We employ…
Abstract
This study investigates the impact of the enhanced continuous disclosure regime introduced in December 2002 on several measures of information risk in NZX‐listed stocks. We employ two microstructure models and an intraday data set to measure information risk in a sample of 71 stocks. Our empirical results show that the reforms enacted in December 2002 had no significant effect on either the level of information‐based trading or the adverse selection component of market spreads in our sample of NZX‐listed stocks.
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Since the shootings at Kent State University (KSU) in 1970, students and activists have held commemorative ceremonies to mark that event. The university ignored that past and…
Abstract
Since the shootings at Kent State University (KSU) in 1970, students and activists have held commemorative ceremonies to mark that event. The university ignored that past and decided to build a gym annex covering part of the land on which the National Guard had maneuvered in 1970. Led by the May 4th Coalition, activists sought to persuade the university to change the building's location. The student concern was the preservation of what they viewed as “sacred” ground which would be buried underneath the annex. At the 1977 annual commemoration speakers raised the annex issue and the newly formed May 4th Coalition ultimately occupied the site of the planned building with a tent city. That occupation was forcefully removed, and the university did build the facility where planned. The physical and spatial aspects of the commemoration of the Kent State shootings did, over time, lead the university to take on the responsibility to memorialize that conflict. This paper focuses on two interrelated issues: (1) the efforts of the May 4th Coalition and residents of Tent City to block or move the gym annex and (2) the refusal of KSU for years to recognize the broad significance of the events of May 1970 and their attempt to ignore or bury it.
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There is a growing academic interest in the examination and exploration of work intensification in a wide range of healthcare settings. The purpose of this paper is to explore the…
Abstract
Purpose
There is a growing academic interest in the examination and exploration of work intensification in a wide range of healthcare settings. The purpose of this paper is to explore the differing staff perceptions in emergency ambulance services in the UK. It provides evidence on the challenges for the paramedic professionalisation agenda and managing operational demands and work intensity in emotionally challenging circumstances, with significant implications for patient safety.
Design/methodology/approach
Drawing on the evidence from an empirical study in a large National Health Service ambulance trust in England, this paper examines the challenges and differing staff perceptions of the changing scope and practice of ambulance personnel in the UK. Amidst the progress on the professionalisation of the paramedic agenda, individual trusts are facing challenges in form of staff attitudes towards meeting performance targets, coupled with rising demand, fear of loss of contracts and private competition.
Findings
Research findings highlight differing perceptions from various sub-cultural groups and lack of clarity over the core values which are reinforced by cultural and management differences. Need for greater management to explore the relationship between high sickness levels and implications for patient safety including the need for policy and research attention follows from this study. The implications of work intensity on gender equality within the ambulance settings are also discussed.
Research limitations/implications
Ambulance services around the world are witnessing a strain on their operational budgets with increasing demand for their services. Study evidence support inconclusive evidence for patent safety despite the growing specialist paramedic roles. Organisational implications of high staff sickness rates have been largely overlooked in the management literature. This study makes an original contribution while building upon the earlier conceptions of work intensification.
Practical implications
The study findings have significant implications for the ambulance services for better understanding of the staff perceptions on work intensity and implications for patient safety, high sickness absence rates amidst increasing ambulance demand. Study findings will help prepare the organisational policies and design appropriate response.
Social implications
Societal understanding about the organisational implications of the work intensity in an important emergency response service will encourage further debate and discussion.
Originality/value
This study makes an original contribution by providing insights into the intra-organisational dynamics in an unusual organisational setting of the emergency ambulance services. Study findings have implications for further research inquiry into staff illness, patient safety and gender issues in ambulance services. Evidence cited in the paper has further relevance to ambulance services globally.