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Creative destruction “revolutionises the economic structure from within”, Joseph Schumpeter famously said, “incessantly destroying the old one, incessantly creating a new…
Creative destruction “revolutionises the economic structure from within”, Joseph Schumpeter famously said, “incessantly destroying the old one, incessantly creating a new one”. Innovation in business – bringing new goods, new markets, new methods of production, new ways of organising firms – is the “fundamental impulse that sets and keeps the capitalist engine in motion” (Schumpeter, 1975, p. 83). Does the economy have enough flexibility? Are there barriers in the way of entrepreneurship? This paper develops a framework for quantifying creative destruction.
Discusses the practices of the family‐owned Nordstrum company, an American firm which maintains the philosophy of customer service through its sales associates, offering the best service, selection, quality and value. Outlines the company history and structure and details its policy towards employees.
The paper contributes to the debate on a general theory of markets. The purpose of this paper is to develop a market practice model based on social practice theories, and explore new ways of describing market boundaries.
A conceptual analysis of contemporary marketing directions and market theorizations provides a basis for defining markets and market boundaries in terms of social practices and their performances by market actors.
Based on the market performances held in place by institutional practices that define, contextualize and stabilize a market, this paper defines market boundaries by nine specific categories of practices, described here as parameters.
This is a conceptual paper. Future research using empirical evidence derived from situated investigations should endeavor to refine the model and practices that define market boundaries.
The paper provides a new conceptualization of markets and market boundaries from the social practice perspective, and advances contemporary market theorizing that puts services at the center of exchange. The paper offers managerial implications by describing alternative means for analyzing markets and developing corresponding competitive strategies. Furthermore, the conception of market boundaries as nine parameters provides insights beyond the geographic and price boundaries typically used to describe market limits and exchange processes when developing policy.
It is not necessary to trouble you here with the nature or names of the many amino acids which make up the molecule of a protein. Let me mention at random just two among them which, like several more, have been shown to be absolutely essential for the growth of the body and in smaller amount for its maintenance. I will choose cystine, which is an amino‐acid containing sulphur, and tryptophane, which is an indol derivative. Suppose at a particular period of its history the human body in order to grow and function normally demands half a gramme a day of cystine. Now of a protein containing 1 per cent. of that amino acid 50 grammes a day satisfies that particular demand, but of another protein containing less cystine a proportionately greater amount will be required, and it is always possible for a deficiency in cystine to become the factor which limits the flesh‐forming value of a protein. But, again, suppose the body at the same time requires 1 gramme of tryptophane a day. Now the protein of which 50 grammes gave an adequate supply of cystine might contain say 1 per cent. only of tryptophane. The latter amino acid would now become a limiting factor for the value of the protein, and 100 grammes instead of 50 will after all be required. This, however, would supply twice as much cystine as is necessary and probably excess of other amino acids. This excess cannot be used for the growth or maintenance of the tissues, but can only share in the less specific functions of fats and carbohydrates by supplying energy on oxidation. These considerations will perhaps make it clear that the food proteins which can be used with the greatest economy in the body are those which contain all the essential amino acids in such relative proportions as will correspond most nearly with the proportions required by the living tissues of the consumer. These are the proteins of so‐called high biological value; they are the “first‐class proteins” which nowadays, as I have said, receive mention whenever diets are evaluated. That different proteins have different values in this sense has been abundantly proved by controlled experiments on animals and to a less extent by experiments on humans. It will be easily understood that it is animal proteins which in general have the highest value. It was long accepted that a man doing average work required a daily ration of 100 grammes of protein. More recently we have come to believe that this figure is too high. I can testify as a result of experiments in practical classes involving estimations of the daily excretions of nitrogen, that the average consumption of Cambridge undergraduates (those in training doubtless excepted) is not above some 80 grammes. But in this the proportion of first‐class protein is probably higher than the average.
Attempts to establish the extent to which the use of computers in Australia’s Department of Social Security (DSS) has facilitated changes in social security policy and its…
Attempts to establish the extent to which the use of computers in Australia’s Department of Social Security (DSS) has facilitated changes in social security policy and its administration. Bases findings on case studies relating to two new DSS policies, supplemented with documentary evidence. Identifies that computers are used in the DSS for six main purposes ‐ administering, automating, protecting, monitoring and evaluating policy, as well as for modelling future policy options. Identifies that, instead of increasing efficiency in administration, computers have simply increased productivity by enabling administrative practices to be extended into new areas; observes an emerging computer‐dependent culture dominated by quantitative (rather than qualitative) practices. Establishes that the flexibility offered by computer technology has also contributed to the introduction of more complex social security policies. Concludes that computer technology has contributed to the formulation and administration of social security policies.