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The authors offer a new metric for assessing a company's potential for growth that CEO's and leadership teams can actively manage.

The Imagination Premium metric reflects the value of a company's equity, beyond what can be readily explained by its ability to throw off cash.

For a CEO, TIP provides support for an argument that investments in future growth are well warranted.

A negative TIP signals that investors will not even pay for the capitalized value of current cash flow and this usually leads to activist investors, hostile acquisition threats and C-suite turnover.

The article shows executives how to drive the premium investors will pay for corporate growth initiatives. One of the first things strategists can do to manage their company's TIP is a portfolio analysis that looks at how uncertain each current investment is, and whether the whole portfolio is one growth investors will reward with an increased TIP.

The article introduces the authors’ “ Imagination Premium™” metric which assesses the confidence of the investing community in a business’ growth strategy.

The article explains how the Imagination Premium is calculated and applies it to several cases--Amazon, Tesla and Buffalo Wild Wings.

Amazon’s implied value of growth was nearly four times its value from operations, a result completely consistent with its “profits are optional” motto. Amazon is a prototypical example of a company that is built to thrive in the ‘transient advantage economy.

Sky-high expectations for growth can be dashed by external events over which businesses have little control as Tesla found out. Unless a business can show, as Amazon has historically done, that it can turn expectations into gold-spun reality, lofty investor expectations can become a liability.

By applying the Imagination Premium concept to successful and problematic cases the authors illustrate the risks and advantages of a bold growth-before-profits strategy.

The purpose of this article is to provide an interview with innovation guru Rita Gunther McGrath. In this interview, McGrath offers her own perspective on the new competitive landscape, which she refers to as the “transient advantage economy,” and she sets out to help strategists more fully understand its implications and better navigate its major challenges.

In a world where strategy development itself needs to become more and more a process of innovation and discovery, few are better qualified to offer deep insight and practical help. McGrath is a Professor at Columbia Business School and a globally renowned expert on strategy in uncertain environments.

The “transient‐advantage economy,” that promises to leave few if any businesses unaffected, calls for an entirely new strategy playbook.

Deeply ingrained structures and systems designed to extract maximum value from a competitive advantage become a liability when the environment requires instead the capacity to surf through waves of short‐lived opportunities.

From the way we handle innovation, to resource allocation, to change, to the leadership mind‐set and even the management of individual careers, the transient advantage economy calls for a radical rethinking of how we create strategies and manage organizations.

The reality of organizing new growth ventures is that every place to locate them in the organization has pros and cons.

Using a set of seven archetypes, executives can figure out which location solution fits the initiative and the parent company best.

Organizations pursuing ventures have a choice of how much separation/distance to insert between ongoing operations and the new business.

The “right” place to locate a venture also depends on such factors as the situation of the parent organization, the level of innovation maturity the parent organization has and the form and functions of the venture.

One of the most critical decisions that executives need to make as they contemplate getting started with setting up an innovation/growth function within their organizations is where, organizationally, it belongs. Seven alternatives are analyzed.

Accompanying the casino liberalization in Macau has been the massive increase in the importation of migrant workers to drive the labour-intensive, service-oriented economic growth there. Nevertheless, the employment of migrant workers has become an intensely contentious issue. The traditional pluralist approach to migration policy has highlighted a mismatch between restrictive policy pronouncements and actual expansive outcomes. This mismatch has resonated strongly in Macau, where the number of migrant workers skyrocketed in the last decade in spite of repeated guarantees from the government of the adoption of a protectionist labour policy. The pluralist approach has attributed the mismatch to strong constituencies supporting more immigration. The purpose of this paper is to dispute this and maintain that the Macau Government is a capitalist state committed to increasing labour importation to facilitate wealth accumulation.

The paper uses a qualitative approach based on extensive research of news and media reports, facilitated by a close observation of political developments.

The Macau Government started, in 2005, to talk about reforming its labour importation programme by adding a migrant worker levy, a ratio mechanism and a six-month waiting period. This paper investigates how the capitalist state navigated the reform process by promising changes and building consent with the working classes. The author maintains that “a game of protection” has been constructed and played to secure the consent of the local working classes for the migrant worker programme.

Very little literature is available that has studied the changes made to the migrant worker system in Macau. This paper will help to close this gap.

Public attitudes are considered influential in the successful reintegration of offenders into society after release, however research into attitudes towards offenders with intellectual disability (ID) has received little attention. The purpose of this study is firstly to see if people hold differing attitudes towards the reintegration of offenders with ID compared to those without ID and secondly, to investigate whether this difference in attitude is because of differing implicit theories of intelligence (TOI). The effects of familiarity with ID were also measured.

In total, 200 participants read crime vignettes depicting crimes committed by offenders with and without ID and completed Dweck’s “TOI” scale.

Participants were found to have greater entity views of intelligence towards ID yet displayed more positive attitudes towards their reintegration than offenders without ID. The influence of demographics was mixed. It would appear attitudes towards offenders with ID are not as negative as initially thought.

Implications of these findings are discussed in terms of desistance and community integration.

While some care must be taken when interpreting the results, this study demonstrates positive results regarding the reintegration of offenders with ID. Attitudes may be changing for the better towards those with disabilities, which is positive in terms of the government and National Health Service (NHS) objectives to reintegrate people with ID successfully back into the community. Although limited in number, it is noted that community forensic mental health teams have been effective in managing offender risk and providing good quality care (Dinani,et al.,2010; Benton and Roy, 2008). They can provide more person-centred and specialist treatments options and have links with other community services, probation and the police (Royal College of Psychiatrists, 2014).

Community care is thought to lead to more timely treatments with more accessible support teams and services that those with ID would struggle to access in prison (Bradley, 2009). It can also lead to greater well-being and support as individuals are in a less restrictive environment and are closer to their social networks, acting as a protective factor against further reoffending (Benton & Roy, 2008; Bradley, 2009). Furthermore, it has been indicated significant financial savings would be achieved for the criminal justice system by reducing inpatient care and increasing community services and sentences, in addition to reducing the demand on prison spaces (Bradley, 2009; Benton & Roy, 2008).

To date, very few studies have used TOI to examine attitudes towards offenders, with none examining attitudes towards offenders with ID.