Most of the investment is financed from internal sources. In this case, the profits from the implementation of investment projects are sufficient to pay off the debt to the bank. As economic expectations grow, the expectations of economic agents become more optimistic, and the number of investment and innovation projects increases, which leads to more active involvement of loan resources in the activity. In the macroeconomics, the quantity and quality of money is changing, the number of financial innovations and the speed of money turnover are increasing . Due to the considerable financing with attraction of the borrowed capital interest rates increase, and, as a consequence, the financial debt of the enterprises under the system of floating rates of credit increases. An entity may apply for a new loan with a bank, but this is limited by the risk of the lender and the overall lack of liquidity in the economy . In order to avoid immediate bankruptcy, entrepreneurs sell their own capital assets.
12 Read more
The primary purpose of the research is to develop new scientific approaches to the implementation of joint innovation and investment projects in the framework of cooperation between developing countries on the example of the Republic of Kazakhstan and the Russian Federation. The methodology of the study included the use of a system of methods: the analytical and induction methods, hypothesis and the synthesis method. As part of the analytical and induction methods, the general theory of investment projects implemented by business entities of two or more countries was investigated. When considering the theory of investment and innovation projects, the following aspects were studied: basic fundamental attributes of project implementation; modelling of investment and innovation projects; modelling of the development of cross-country investment and innovation projects with the participation of two or more countries; factors influencing the effectiveness of cross-country investment and innovation projects. The study focused on the impact of investment and innovation projects on the economic growth of developing countries. Based on the results obtained using the analytical method, the general problems of intensification of investment projects were developed. Based on the identified problems, the method of hypothesis formulation was applied, which allowed formulating postulates on the application of several new methods of integration and economic cooperation of the states. The findings of the research allow in developing a new economic policy of cooperation of developing and, in some aspects, developed countries and applying it in practice in the conditions of increasing global competition.
11 Read more
On the other hand, the financial appraisal of the innovation projects implies some difficulties due to the characteristics of the activities of an innovation project. The financial information detained at the decision time, referring to the beginning of an innovation project, has a higher degree of uncertainty comparing to a material investment project. In the selection stages, the quality of the information referring to the innovation project is much decreased. It settles the elimination of those variants of the project considered not to be winning and the retaining of those variants that are considered to have a very high potential of success. This implies that identifying the main areas of uncertainty and also, the influence’ intensity of those areas upon the project profitability is very important (Şipoş, 2004).
10 Read more
The organizations decisions are about the organization of the project: cooperation between organization, termination of collaboration, changes in the organizational structure and founding of entities. A quarter of all decisions that are made in the three innovation projects are organizations decisions (Brown & Eisenhardt, 1995; Krishnan & Ulrich, 2001). Organizations decisions are mainly made in the first and third phase of the process: both phases have an internal perspective and focus more on the development on the innovation and the corresponding organization rather than the diffusion of the innovation. An expectation to this is the project iQwoning, since in this project the organizations decisions are also made in the fourth phase of the process. The reason for this might be that in technology-push innovation project a new organizational structure has to developed that will implement and diffuse the innovation, since the organizational structure that was used in the phases before was focused on the technological development of the innovation. Based on these observations and the corresponding literature the following propositions are formulated:
267 Read more
In 1934 Schumpeter emphasizes the importance of innovations and technology in economic progresses and he became the founder of economics of innovation (Schumpeter J. A., 1934). Nowadays innovation is very important for the continuity of a company due to rapid technological changes. Investments are needed to achieve innovation. Most investors want to obtain the highest return for the lowest amount of risk (Brentani, 2004). However, there is a trade-off between the amount of risk and return on investment. A higher risk is generally associated with a higher return. Therefore, a manager needs to determine the amount of risk, and the potential return an innovation could gain in the future. A well-balanced innovation portfolio is critical to ensure a company ’ s continuity (Cooper, Edgett, & Kleinschmidt, 1999). A business list of active new products and new R&D projects have to be constantly updated and revised to ensure the innovation portfolio is well- balanced. Existing projects may be accelerated or aborted, and resources need to be allocated or reallocated to the active and most prospective projects. High innovative businesses can become too risky, while low innovative organizations may become obsolete (Levinthal & March, 1993).
35 Read more
Cognitive embeddedness is about “the ways in which the structured regularities of mental processes limit the exercise of economic reasoning” (Zukin & DiMaggio, 1990, p. 15-16). This dimension of embeddedness refers to the similarity of representations, interpretations and systems of meaning among parties, e.g. shared language and shared codes (Nahapiet & Ghoshal, 1998). Cognitive embeddedness of a network is shaped by, and in turn is shaping, the interactions among the actors (Simsek et al., 2003). A shared vision, which is in innovation studies deemed as a significant construct of this dimension (Zheng, 2010), can help to facilitate the actions of an individual actor or a group of actors (Tsai & Ghoshal, 1998). Although shared vision is widely used as a construct in innovation studies, studies show different outcomes with respect to the influence of shared vision on innovation. Pearce and Ensley’s (2004) study revealed a positive and reciprocal relationship between innovation and shared vision, while Tsai and Ghoshal’s (1998) study showed no significant relationship between shared vision and innovation, although shared vision was in this study significantly related to the constructs of relational embeddedness. Zheng (2010) argued that shared vision can have a positive influence on innovation when other constructs of embeddedness are not present.
139 Read more
The meanings of the confidence interval with Student test are the same with previous variant. The difference consists in the fact that this second variant can be used without previous experience and having a smaller sample date at disposition. The practical results of the first variant are better than the second variant, because the confidence interval determined after relation 5 is more accurate than the confidence interval determined after relation 6. Unfortunately, in a great number of cases, the managers has no previous innovation experience and the available sample data is small, so they are forced to use the second variant with lower accuracy.
10 Read more
Projects Decomposition of a generic indicator of project effectiveness involves the selection of constituent elements (internal parameters) that have the greatest impact on the final result of its implementation. The results of such an assessment make it possible to conclude the further consideration of the project or the suitability of its inclusion in the innovative investment portfolio by the criterion of resistance to change of internal parameters. Sensitivity diagnostics is preceded by a financial evaluation of an investment project that calculates performance indicators, the most generic of which is NPV, which is calculated using the formula:
There were many benefits to working with end-users in an integrated knowledge translation fashion, as well tensions between balancing scientific needs with research user needs. Meanwhile, the Steering Committee had an important role in bringing the views of families, LTC residents and other sector stakeholders to the research teams. The Committee’ s ability to understand both policy and research needs acted as a bridge between these two worlds by connecting researchers to appropriate stake- holders and other resources. Through all these processes, along with the merits of the research being conducted, there was evidence that the projects made contributions through advancing knowledge, contributing to changes in understandings about topic areas, building capacity and developing user-friendly knowledge products like toolkits. Of particular note is that the projects were on-going, demonstrating that project outcomes and impacts can occur even before the completion of research work. The thematic findings related to each case across both data collection periods are presented in Table 2.
13 Read more
In some instances, this has limited their capacity to deliver to the whole range of commercial farms, including the small ones (Labarthe, Laurent, 2009), or their capacity to deliver advice on public goods such as agri-environment (see Nigel et al. 2002; University of Gloucertershire, Countryside and Community Research Group (2008), Klerkx et al. 2006) and their involvement in back-office activities (construction of knowledge, e.g. field experiments, etc.). It appears that, at a time when farmers are faced with multiple challenges (environmental norms, increased technicality of production processes, necessity to cope with climate change, business management, etc.) which require large amounts of knowledge, they sometimes have access to a more narrow scope of knowledge of sometimes lower quality 18 (see in particular Labarthe, Laurent, 2006). In the absence of a comprehensive approach regarding the role and the objectives of advisory services to agriculture, there is a risk that the trade-offs between various objectives (e.g. maintain or increasing productivity together with eco-system services) and time horizons (short-term objectives regarding income and longer-term objectives regarding sustainability) will not be properly taken care of by the advisory services. There is a growing consensus that innovation in agriculture encompasses a plurality of approaches: the traditional linear process with knowledge flowing from research to farmers ('science push') through advisory services is no longer considered as the most appropriate approach although in some instances it bears fruit. Innovation is also more and more viewed as the outcome of collaborative networks where information is exchanged and a process of learning takes place (Knickel et al. 2008, results of FP 6 research project In-sight 19 ). Hall (2007) supports that innovation is rarely triggered by agricultural research and, instead, is most often a response of entrepreneurs to new and changing market opportunities. In this context, a critical role for public authorities is to support the emergence of a plurality of innovation systems and to provide a conducive environment and support to innovation networks and collective approaches gathering producers and other stakeholders on specific issues requiring innovation. In this context, it is considered that the provision of research and agricultural advisory services should be pluralistic with mixed funding and undertaken by both public and private parties (Klerkx, Leeuwis, 2009). Public involvement and funding is particularly important in those areas (e.g. public goods) which do not attract the interest of the private sector.
23 Read more
The simple numerical analysis by project is supplemented by case study analysis as presented in Table 5 and Figure 2. Table 5 presents the numeric aggregate count of the evaluation of stimulants and impediments by hierarchical level. The most effective innovation would again occur when the stimulant (solid line) is as far from the axis as possible, and the impediment (dotted line) is as close to the central axis as possible. However, in this case there is an indication that the inter-relationship between the levels is also important. Intuitively the impediments are more significant in the descending order of external, organisational, project and role, whilst the stimulants appear to be more important at the organisation and project levels than at the external or job role levels. No work has yet been executed to quantify the proportional contribution of each level. It treats all levels in an identical manner.
20 Read more
Proposition 7: Companies are likely to adopt more open strategies for resources with weak VRIN characteristics, than for resources with strong VRIN characteristics. All of the firms engage in Open Source projects that are complementing in an economic sense to their businesses even when the resource is not of direct value to the firm. Ericsson’s contributions to OpenStack, or Qualcomm’s contributions to Webkit are not valuable in terms of the RBV, but by proxy generate a return to both firms. Apple releasing and maintaining the Swift language helps third party develop applications for their products, increasing the value of these products. Cisco focusses its Open Source activities on datacenter operations, which they provide the hardware for. Hence the Open Source activities are primarily guided by creating competitive advantage, demand for a complementary asset. Another reason to engage with Open Source can be to gain access to a resource that is necessary to operate, as is the case for Telefonica’s ETSI OSM developments. This resource is becoming a requirement for operators in the market, but investments can be substantial for a single operator. As the resource is not a direct source of competitive advantage it makes sense for Telefonica to drive an Open Source project and seek additional developers to share the costs with.
84 Read more
the traditional industrial economy to this modern one; is inevitable. This shift should be based on knowledge, innovation, and services. The urban form must then be reconfigured so that it offers a high-quality urban living for skilled citizens. It should also attract and retain corporate retail companies, agencies and firms and develop a whole new set of commercial financial hubs. This integrated land use strategy allows high value, high-intensity knowledge resources to flourish within the KC, enabling a direct connectivity between manufacturing and light industrial zones. An ICT (Information Communication and Technology) super corridor must be developed along the main city spine and spread out through the corridor networks linking the main urban sub-centers knowledge hubs with regional high-tech clusters.
A final future research topic is discussed in the chapter “Passion-driven Projects: Insights for Strategy and Organizing from Processes of Temporary Art” (Svejenova, Strandgaard Pedersen and Vives, 2011). They advance the notion of projects of passion as a class of phenomena for which profits come secondary to an artistic, entrepreneurial, scientific, or professional “calling.” Projects of passion confront the set of well-known assumptions employed in strategic management of project. It distinguishes the “labor of love” archetype from the “love of gain” one. Further, drawing on a comparative case analysis of seven temporary art projects by renowned creators-entrepreneurs Christo and Jeanne-Claude, conceived and realized in the period from 1970 until 2005 the authors put forward a conceptual model. The model specifies critical drivers, mechanisms, and performance outcomes that are essential for the strategic management of projects of passion. In particular, it identifies freedom and novelty as sources of project motivation, individual business models and rhetorical strategies as process mechanisms, and authenticity and value appropriation by third parties as previously uncharted project performance dimensions. The article concludes with implications for the strategy of projects as well as some directions for further research.
28 Read more
Many unusual questions have to be solved which are in touch with processes of innovation as Lithuania inte- grates into European space of processes and globaliza- tion of economics. Implementation of innovations gives an opportunity to modernize the structures of manufac- turing and services, to improve products and technolo- gies, to raise their international competition. Questions like what causes the rise and development of innovations are being raised in this article. What could quality man- agement as science and as separate management methods do as innovations in this context? How the company could and should prepare for innovations? In this article the paradigm of innovation concept is presented, sources of innovations are presented and also the causes of de- velopment are described. Points of view to innovations are described (in governmental, company and organiza- tional level), also quality aspects, attention is being paid to EU‘s innovation stimulation.
As an important way to realize the science and technology plan, the science and technology plan project is important for exerting the macro-control and so- cial guidance role of science and technology plan, solving major scientific and technological problems in economic and social development, enhancing indus- trial competitiveness, and promoting China’s economy, science and technology and social development significance. In 2014, the “Guangdong Province Major Science and Technology Special Implementation Plan (2014-2018)” issued by Guangdong Province clearly organized 9 major science and technology projects by 2018, including computing and communication integrated chips, mobile in- ternet key technologies and devices, cloud computing and Big data management technology, new printed display technology and materials, visible light commu- nication technology and standard optical components, intelligent robots, new energy vehicle batteries and power systems, stem cell and tissue engineering, ad- ditive manufacturing (3D printing) technology, and planned to 2018 Each year, 50 - 100 major science and technology projects are organized. As of 2016, Guang- dong Province’s major science and technology projects have organized 3 batches and funded more than 100 major science and technology projects. In 2016, the “Implementation Plan for the Management Reform of Guangdong Provincial Financial Science and Technology Plan (Special, Fund, etc.)” (Guangdong  No. 14) was integrated into the science and technology funds scattered in vari- ous departments, and the “Technology Development Special Project” was estab- lished. “Funding” to build a “511” science and technology planning system, namely “Basic and Applied Basic Research (Natural Science Fund)”, “Public Wel- fare Research and Capacity Building”, “Frontiers and Key Technology Innova- tions”, “Industrial Technology Innovation and Technology Finance Combina- tion” and “collaborative innovation and platform environment construction” as
11 Read more
Innovation form an important basis upon which modem companies compete. It can be defined as “any idea, practice or material artefact perceived to be new by the relevant unit of adoption” (Zaltman, 1973) and “the generation, acceptance and implementation of new ideas, processes, products or services” (Kanter, 1985). Thus they are the configuration o f technologies or ideas that are the principal elements in the entities, or methods o f construction and delivery, of products and services. Over time, these innovations are, more often than not, subject to the law of relative diminishing returns. These returns can be measured in terms of revenue, profit margin and product performance. This is due to the advent of superior customer offerings being introduced within the marketplace. These diminishing returns are the core motivating force driving the development of innovations by companies both incumbent to, and entering into an industry.
69 Read more
From an education perspective, this project is an interesting case as the use of vertical orientated delivery allows more experienced students to provide guidance and support to less experienced ones. Guidance was provided to the team using multiple pathways. The third year student was enrolled in the Research Practicum course and provided with insight into the research process and guided through the conduct of a systematic literature review that was used to inform the development of the final haptic device by the team. The research practicum was particular effective as it nurtured the peer learning process and also led to the publication of a research paper (Foottit, Brown, Marks, & Connor, 2016) demonstrating benefits to both the students and the staff involved. Allowing a vertically orientated delivery, stretching projects across multiple courses and encouraging undergraduate students to engage in rigorous research has create a unique blurring between undergraduate, postgraduate and staff that is effective in both driving learning and generating research momentum
10 Read more
Great thanks to Prof. M. El-Azzazi, president of Misr University of Science and Tech- nology (www.must.edu.eg) for being on open supporter of a new interactive and multi- disciplinary way of identifying healthcare innovation needs. … and of course thanks a lot to all the students that went through the lecture over a 6 week period, invested a lot of their free time, and showed an amazing amount of enthusiasm. And lastly I would like to show gratitude to the Otto-von-Guericke-University, my employer, for allowing me to spend the time in Egypt away from my normal role teaching and actually imple- menting HEALTHCARE INNOVATIONS.
13 Read more
It has been shown that more new ideas are generated when people are exposed to others who do not belong to their cohesive group. Furthermore, those organizations that want to foster innovation should provide an environment where people from different backgrounds and experiences can interact and build on others’ knowledge Núñez (2011). Therefore, it is vital that ideas are sought from others who are not directly involved with the project, especially in the planning and design phases. In particular, involving people knowledgeable in a spectrum of relevant disciplines such as planning, designs, construction and maintenance is more advantageous than taking decisions by people knowledgeable only in one area. External experts, in particular, can bring in many new ideas. It is preferable that discussions on projects be conducted by facilitators who are capable of using advanced idea generation techniques. Tatum (1989) says that the early involvement of construction representatives is a vital part of a supportive context for innovation in construction projects. Idea harnessing needs to occur in all phases of a project. Purchasing and making use of the best ideas of unsuccessful contractors in design and construct contracts is one of the strategies in harnessing ideas. During the construction phase, the project manager needs to encourage new ideas from all involved – contractors, subcontractors, suppliers, and even from construction workers.
11 Read more