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THE Fourth European Work Study Congress, held in Paris during the third week of May, was a well‐organized affair. A tribute is due to M. Loubert and his colleagues for the way in…
Abstract
THE Fourth European Work Study Congress, held in Paris during the third week of May, was a well‐organized affair. A tribute is due to M. Loubert and his colleagues for the way in which they devised such well‐lubricated machinery for the convenience of their guests and for the imaginative touch of holding the official dinner aboard a bateau‐mouche as it sailed for two hours up and down the Seine.
Przemyslaw S. Stilger, Jan Siderius and Erik M. Van Raaij
Choosing the best bid is a central step in any tendering process. If the award criterion is the economically most advantageous tender (EMAT), this involves scoring bids on price…
Abstract
Choosing the best bid is a central step in any tendering process. If the award criterion is the economically most advantageous tender (EMAT), this involves scoring bids on price and quality and ranking them. Scores are calculated using a bid evaluation formula that takes as inputs price and quality, and their respective weights. The choice of formula critically affects which bid wins. We study 38 such formulas and discuss several of their aspects, such as how much the outcome of a tender depends on which formula is being used, relative versus absolute scoring, ranking paradox, iso-utility curves, protection against a winner with an extremely high price, and how a formula reflects the weights of price and quality. Based on these analyses, we summarize the (dis)advantages and risks of certain formulas and provide associated warnings when applying certain formulas in practice.
Those of us who must write user manuals, training manuals, and any sort of documentation, from procedures to memos, know that the complexity of our written words can cause…
Abstract
Those of us who must write user manuals, training manuals, and any sort of documentation, from procedures to memos, know that the complexity of our written words can cause consternation with other staff members. What seemed clear to us remains obscure to them, regardless that we have just written down every step clearly. One of the most oft heard complaints is that the ‘readability’ is lacking. Of course, we complain just as loudly when reading documentation for computer programs others have written. We all get our fair share of complaints. Readability is one of those nefarious reading concepts that can bring more trouble than elucidation. How easy is a passage to read, anyway? And who says? Somehow, youngsters who can't seem to read a complete sentence in a basal reader can devour page after page of Hot Rod Magazine with little trouble at all.
The purpose of this paper is to examine how and why outsiders, rather than incumbents, are able to take advantage of technological discontinuities.
Abstract
Purpose
The purpose of this paper is to examine how and why outsiders, rather than incumbents, are able to take advantage of technological discontinuities.
Design/methodology/approach
The paper employs a case study of a single innovation that transformed the technology of Formula 1 motor racing.
Findings
The findings show how social capital made up of “weak ties” in the form of informal personal networks, enabled an outsider to successfully make the leap to a new technological regime.
Practical implications
The findings show that where new product development involves a shift to new technologies, social capital can have an important part to play.
Originality/value
It is widely accepted that radical innovations are often competence destroying, making it difficult for incumbents to make the transition to a new technology. The paper's findings show how the social capital of outsiders can place them at a particular advantage in utilizing new technologies.
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Demonstrates the application of spreadsheets in simulating queuingsystems with arrivals from a finite population. The problem is referredto as the machine repair problem where the…
Abstract
Demonstrates the application of spreadsheets in simulating queuing systems with arrivals from a finite population. The problem is referred to as the machine repair problem where the members of the queue are machines that are breaking down and the servers are the technicians repairing the broken machines. The total number of machines are finite and pre‐specified. The technique for the development of the simulation is illustrated with six machines. Describes the approach for developing a generalized simulation model with any number of machines.
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Gerard Stone and Lee D. Parker
This paper aims to examine and critique the accounting literature's dominant readability formula, the Flesch formula. Furthermore, the paper sets out to propose refinement and…
Abstract
Purpose
This paper aims to examine and critique the accounting literature's dominant readability formula, the Flesch formula. Furthermore, the paper sets out to propose refinement and augmentation to the formula with a view to expanding its applicability and relevance to researchers' attempts at better understanding and critiquing the effectiveness of accounting communications. This aim extends to setting a more robust foundation for informing policymakers' and practitioners' interest in implementing more effective communications with their target stakeholders.
Design/methodology/approach
The paper offers an historically informed methodological critique of the current articulation and application of the Flesch formula, both generally and in accounting research. This critique forms the basis for developing proposed revisions and supplementary measures to augment Flesch's coverage. These are presented with sample empirics.
Findings
Illustrative examples suggest that it is feasible and desirable to apply a revised formula that reduces Flesch's misplaced emphasis on word length by respecifying its sentence length variable, a probable cause of low readability. A reader attribute score further enhances the formula by integrating the considerable impact of readers' attributes on readability and accounting communication effectiveness. Supplementary measures, comprising non‐narrative communications dimensions, are introduced as a foundation for further research.
Originality/value
The paper provides not only critique but also refinement and augmentation of the much used Flesch readability formula for accounting communications research. It offers a first stage approach to encompassing potentially important communication elements such as readers' attributes, tables, graphs and headings, to date critiqued as potentially important but left unattended by accounting researchers. This offers the prospect of extending Flesch's application to contemporary accounting communications issues and questions.
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Currently many jobs for undergraduate finance majors require that the student demonstrate advanced Excel modeling skills. The purpose of this paper is to illustrate and explain…
Abstract
Purpose
Currently many jobs for undergraduate finance majors require that the student demonstrate advanced Excel modeling skills. The purpose of this paper is to illustrate and explain the Excel Best Practices which should enhance their financial modeling efficiency.
Design/methodology/approach
The focus is a way to teach the Excel Best Practices when teaching financial modeling with Excel 2007. It uses a chronological modeling procedure that is consistent with current learning theory and the way students should use these Excel Best Practices. A capital budgeting replacement problem is used to illustrate many of the Excel Best Practices.
Findings
It was found that using a chronological modeling procedure is consistent with current learning theory.
Originality/value
Using the procedures mentioned in this paper should result in efficient financial modeling. Efficient models are created in less time, have fewer errors, if any, and are designed for ease of use.
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The systematic determination and verification of formulas is considered in this paper. The approach is independent of theoretical considerations in a particular discipline, and…
Abstract
The systematic determination and verification of formulas is considered in this paper. The approach is independent of theoretical considerations in a particular discipline, and the techniques are amenable to man—machine interaction.
The purpose of this paper is to show that more than ever than ever, businesses need to understand the nature of different concepts of knowledge and methods for producing them.
Abstract
Purpose
The purpose of this paper is to show that more than ever than ever, businesses need to understand the nature of different concepts of knowledge and methods for producing them.
Design/methodology/approach
Utilizing the philosophy of inquiry, the extreme importance and relevance of applied epistemology (theories of knowledge/inquiry) for business is demonstrated. It introduces and briefly explains five archetypal inquiry systems from Western philosophy. Each system defines “truth” and “knowledge” in completely different ways.
Findings
The paper shows the strengths and the limitations of each system for “knowledge”, and especially for doing business in the systems age.
Originality/value
The philosophy of inquiry has been greatly underutilized, even ignored, in schools of business. This paper attempts to correct this.
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