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While the trade sector has long been the backbone of growth followed by real estate development in Dubai, the impact of reduced oil revenues in the Gulf Cooperation Council (GCC) has affected Dubai. GCC countries have identified innovation and transitioning to a knowledge-based economy as critical components of sustainable growth in the post-oil world. The purpose of this chapter is twofold: (1) to examine UAE’s competitiveness relative to four economies for which we can draw meaningful conclusions (Qatar, Singapore, Norway, and Switzerland) and (2) to integrate macro- and micro-level findings in an actionable framework. Using the composite Knowledge Economy Index (KEI) developed by the World Bank (2008, 2012), we conclude that UAE should prioritize three key areas to ­transition to a knowledge-based economy: the regulatory regime, innovation, and human capital. These findings are consistent with a recent study by the UAE Department of Economic Development/INSEAD, which highlights two areas that need addressing: “Creation” (knowledge creation) and “Anchoring” (institutional environment for innovation). We integrate these macro-level findings with research at the innovation ecosystem level (and particularly survey-based research completed by Wamda Research Lab) to propose a comprehensive action framework across all ecosystem stakeholders (i.e., government, entrepreneurs, academia, support ecosystem, and corporates). The action matrix allows individual stakeholders to drive corresponding actions and prioritize across short- and long-term initiatives.

This paper has two main aims. First, given that an approximately 2 per cent positive differential of property over gilts appears to be the accepted required risk premium, then it is useful to examine the actual values of ex‐post risk premiums of property over both conventional and index‐linked gilts to determine whether this is achieved. Second, the univariate time series properties of the generated risk premiums are analysed to ascertain if there are any stable forecasting attributes embodied in the first and second moments.

The purpose of this paper is to understand the success of Lean Six Sigma (LSS) in banking and financial services industry and to develop a structured stakeholders management model for successful LSS project management.

A two-phase methodology is used. Phase 1 establishes the literature to understand two key process improvement methodologies – Lean and Six Sigma and to derive synergies by their combination leading to success in banking and financial services. The literature also helps to recognize the importance of stakeholder management in LSS projects and to understand how it helps in accelerating change in organizations. Phase 2 of the methodology is based on the interviews conducted by 56 global LSS project managers. This is to understand the practical challenges faced by the LSS project managers in banking and financial services tying back to the existing literature.

The paper identifies the possible opportunities for structured stakeholder management across different phases of Define-Measure-Analyze-Improve-Control (DMAIC) project flow. The first of this kind, “Inform-Involve-Influence” model has been developed based on the understanding from literature and conclusions from the interviews conducted. The proposed model highlights the different set of stakeholders involved in LSS projects and their role in the project. The model also helps categorizing the stakeholders based on the DMAIC phases.

The paper is limited to readymade use in banking and financial service environments for LSS projects. However the paper sets a platform for further research to customize the proposed model for other service industries.

The model proposed as part of the paper helps project managers to inform, involve and influence different set of stakeholders at different phases of the DMAIC flow. The model leaves an opportunity for further research and customization for other service industries outside the banking and financial services space like hospitality, government, heath care, etc. Benefits and limitations of the model were presented as part of the paper.

The paper is the original work contributed by the author. Both the survey findings and the model developed are author’s original contribution for both academicians and corporate professionals.

The paper aims to propose a virtual reality (VR) wisdom teaching model in open university English course from the perspective of “Metaverse”. The study aims to testify the stimulation for English learning and the effectiveness of English-expressing with VR tools for adult learners from the practice in a pilot reform project.

The paper opted for an exploratory study using ICARE Design Model as the framework, under the grounded theories of constructivism and multi-modal teaching. The study compared the evaluation data of one-semester English learning performance between the experimental class (67 students) with VR practice and the controlled class (67 students), including speaking test score, qualitative feedback and in-depth experience analysis. The data were complemented by reflection paper analysis, including manual evaluation (the criteria of semantics, pronunciation, fluency and completeness), questionnaire survey (in the form of five-point Likert scale) and semi-structured interview.

The paper provides empirical insights about the VR wisdom teaching model in English language teaching and learning in a Chinese Open University. The empirical results suggest that “3I” features of VR technology could make up for the shortcomings of traditional English classes in open universities in China, and VR resources designed with curriculum teaching materials could also be helpful for students’ command of knowledge points and language skills. What’s more, the sense of authentic experience in virtual could promote the teaching and learning effect in college English classes.

The present study focuses on a wisdom mode of foreign language teaching and learning for adult learners in open education, so the research results may lack generalizability. Therefore, researchers are encouraged to further explore the deep integration of VR/artificial intelligence in foreign language teaching and learning.

This paper fulfills an identified need to study how VR tools provide an engaging, fun and immersive language learning environment, to enhance autonomous learning and learning engagement.

The delivery of assistance to SMEs, provided by enterprise councils at the local level, can vary between those bodies which are innovative and those which are pedestrian in their approach. Although it is generally accepted that most small firms in the UK sell to local markets, SMEs based within the Aberdeen area of Scotland play an important role in exporting and employment. The potential for birth and growth of firms exists in a number of targeted key sectors which aid the economic development of the Aberdeen area. However, assistance is required to bring people together in order to encourage networking, and this paper seeks to explore the process of facilitating an enterprise culture by examining the collaboration and partnership roles played by a LEC and a university in initiatives which foster enterprise. The relationship of the researchers and practitioners is similar to the model outlined by Oakey and Mukhtar where research and practice are used to inform each other, over time, to identify policy needs. The initiatives examined in this paper are the Entrepreneurs’ Club where established entrepreneurs mix with others at the new venture stage, and the Chrysalis Elite programme which links graduates with existing owner managers, creating a work‐based project involving groups of students. These links extend to the wider business community and organisations, including local entrepreneurs (who provide prizes and guidance), 3i and the Local Investors Network Company (LINC), who offer advice and opportunities. The main outcomes for policy in this paper are that collaboration between a LEC and a university can be very effective in assisting individuals or groups to meet the challenge of building entrepreneurial networks and that effective support can be provided for students to gain experience from the business community.

This study examined the contribution of adult social work in integrated teams in the UK.

The study design was realist, evaluation research using a mixed methods approach. Data collection methods included interviews and focus groups. Types of social work activities were extracted from older adults' case records and used to calculate costs of care. The presence or absence of indicators of care quality was recorded using the same sample of case records. Data were collected from three primary care teams in which social work was integrated. They were compared with data from three social-work-only teams in the same districts. Narrative data was analysed thematically. Inferential and descriptive statistics were used to compare costs and care quality.

When social work was embedded or attached to a primary care team, costs of care delivery were lower than in their social-work-only team and more indicators of good quality care outcomes were recorded. Results suggest that embedding social work in integrated primary care teams contributes to cost-effective, quality care for older people if certain conditions for integration are met.

This is the first study to triangulate three data sources to quantify the social work contribution to integrated primary health care teams for older adults.

Quintiles Transnational Holdings Inc., the largest global provider of biopharmaceutical development and commercial outsourcing services, grew its revenue at a CAGR of 7.3% and EBITDA at 13.9% between 2008 and 2012.

The case is set in December 2012–April 2013, when the majority of the firm was owned by founder Dennis Gillings and four private equity firms (Bain Capital, TPG Capital, 3i Capital and Temasek Life Sciences) after it was taken private in a management-led buyout in 2003 and a subsequent buyout in 2008. Five years after the second buyout, the private equity firm owners were looking to monetize their positions and considered different strategic alternatives: M&A sale to strategic or financial buyers, IPO, or capital restructuring through special dividends.

Students will step into the role of an associate at the lead investment bank working with Quintiles. They must consider the case information and determine an IPO strategy, process, potential conflicts, and valuation.

After reading and analyzing the case, students will be able to:

• Apply valuation techniques (discounted cash flow (DCF) and publicly traded comparables) in pricing an IPO

• Analyze the roles of different parties involved in the transaction

• Discuss the process of a company filing for an IPO

• Evaluate different strategic alternatives available to a private equity—backed company

• Address conflict of interest in management—led buyouts

Apply valuation techniques (discounted cash flow (DCF) and publicly traded comparables) in pricing an IPO

Analyze the roles of different parties involved in the transaction

Discuss the process of a company filing for an IPO

Evaluate different strategic alternatives available to a private equity—backed company

Address conflict of interest in management—led buyouts

The Cheltenham‐based Pennant International Group has acquired a new and purpose‐built 18,000 square feet factory on the Staverton Technology Park with £400,000 backing from the venture capital group 3i (Investors in Industry).