Linking Innovative Potential to SME Performance: An Assessment of Enterprises in Industrial South Wales

The attraction of inward investment from the UK and from overseas was the main focus of regional development policy in Wales for much of the 1970s and 1980s. Whilst Wales has been particularly successful in attracting foreign enterprise, the contribution of new investors to improving longer term regional economic prospects has been questioned at several levels. With concerns over inward investor stability, embeddedness, and contribution to local value added, increasing weight has been given to the encouragement, and development of innovative indigenous SMEs in the Welsh economy. General and sectoral initiatives to encourage SME development and innovation in Wales have also taken place against a background of historically low levels of new firm formation in the region, together with the presence of factors expected to hinder SME growth including low levels of capital availability. Ultimately, it is hoped that a strongly performing indigenously controlled and innovative SME sector will go some way to improving regional growth prospects, and hence play a role in reducing the GDP per capita gap between Wales and the UK. During the 1990s a series of research and consultancy studies in Wales have been undertaken seeking to audit SME activities, define needs and identify market failures in provision of information and services. These have formed the basis of revised policy and then for new resource directions emanating at the European, regional and local levels. Encouraging innovative activity has been at the forefront of the network of initiatives currently underway in Wales. New initiatives have often been instituted without a clear appreciation of the nature of innovation, and how innovative activities link to innovative outputs and then feed through to improved business performance. This paper examines the link between innovative activity, outcomes and the performance of SMEs in Wales. A range of European, UK and locally developed initiatives in Wales seek to encourage innovative activity in indigenous SMEs. However, it is the contention of this paper that these initiatives have often been instituted without a clear appreciation of how, if, and which innovative activities feed through to improved business performance. The paper offers a general method of assessing the innovative potential (the configuration of management practices, capabilities, internal and external linkages facilitating the generation of appropriation of ideas) of manufacturing SMEs. This then leads on to an examination of how far innovative potential is connected to operational and general business performance. The paper describes how the model was developed and used to assess the innovative potential of a sample of manufacturing SMEs in Industrial South Wales, and how far the innovative potential can be linked to improved operational and business performance. The introduction to the paper reviews current literature on innovation in SMEs, and demonstrates how far recent studies have succeeded in measuring, and then linking innovative inputs of SMEs to innovative outputs and firm performance. The second section builds upon the review to develop a working model of an innovative SME. Innovation is considered not only in terms of new product or process development but more generally as practice. The model reveals the innovative firm as one that identifies, interprets, and applies knowledge effectively, and as appropriate throughout the organisation. The model described represents a synthesis of previous research. Key factors in the model include strategy and the techniques and practices deployed to facilitate the development and appropriation of ideas for innovation. Broadly this focuses on SME commitment to innovation, and management practices supporting this commitment. The third section describes how the model was operationalised into an auditing tool, and then used to assess the innovative potential of a sample of manufacturing SMEs in Industrial South Wales. The fourth section summarises the results from the initial research programme, and in particular, considers whether the unique operating structures usually associated with SMEs hinder or facilitate the adoption of new structures for organisational learning. Moreover the section examines whether the existence of certain configurations of practices coincide with improved business performance and operational efficiencies. The conclusions consider these results in the context of the directions being adopted by current regional SME policy initiatives in Industrial South Wales.

Past, present and future of information and knowledge sharing in the construction industry: Towards semantic service-based e-construction

The paper reviews product data technology initiatives in the construction sector and provides a synthesis of related ICT industry needs. A comparison between (a) the data centric characteristics of Product Data Technology (PDT) and (b) ontology with a focus on semantics, is given, highlighting the pros and cons of each approach. The paper advocates the migration from data-centric application integration to ontology-based business process support, and proposes inter-enterprise collaboration architectures and frameworks based on semantic services, underpinned by ontology-based knowledge structures. The paper discusses the main reasons behind the low industry take up of product data technology, and proposes a preliminary roadmap for the wide industry diffusion of the proposed approach. In this respect, the paper stresses the value of adopting alliance-based modes of operation

Artificial intelligence and UK national security: Policy considerations

RUSI was commissioned by GCHQ to conduct an independent research study into the use of artificial intelligence (AI) for national security purposes. The aim of this project is to establish an independent evidence base to inform future policy development regarding national security uses of AI. The findings are based on in-depth consultation with stakeholders from across the UK national security community, law enforcement agencies, private sector companies, academic and legal experts, and civil society representatives. This was complemented by a targeted review of existing literature on the topic of AI and national security. The research has found that AI offers numerous opportunities for the UK national security community to improve efficiency and effectiveness of existing processes. AI methods can rapidly derive insights from large, disparate datasets and identify connections that would otherwise go unnoticed by human operators. However, in the context of national security and the powers given to UK intelligence agencies, use of AI could give rise to additional privacy and human rights considerations which would need to be assessed within the existing legal and regulatory framework. For this reason, enhanced policy and guidance is needed to ensure the privacy and human rights implications of national security uses of AI are reviewed on an ongoing basis as new analysis methods are applied to data

Enterprise application reuse: Semantic discovery of business grid services

Web services have emerged as a prominent paradigm for the development of distributed software systems as they provide the potential for software to be modularized in a way that functionality can be described, discovered and deployed in a platform independent manner over a network (e.g., intranets, extranets and the Internet). This paper examines an extension of this paradigm to encompass ‘Grid Services’, which enables software capabilities to be recast with an operational focus and support a heterogeneous mix of business software and data, termed a Business Grid - "the grid of semantic services". The current industrial representation of services is predominantly syntactic however, lacking the fundamental semantic underpinnings required to fulfill the goals of any semantically-oriented Grid. Consequently, the use of semantic technology in support of business software heterogeneity is investigated as a likely tool to support a diverse and distributed software inventory and user. Service discovery architecture is therefore developed that is (a) distributed in form, (2) supports distributed service knowledge and (3) automatically extends service knowledge (as greater descriptive precision is inferred from the operating application system). This discovery engine is used to execute several real-word scenarios in order to develop and test a framework for engineering such grid service knowledge. The examples presented comprise software components taken from a group of Investment Banking systems. Resulting from the research is a framework for engineering servic

Machine translation and Welsh: analysing free statistical machine translation for the professional translation of an under-researched language pair

This article reports on a key-logging study carried out to test the benefits of post-editing Machine Translation (MT) for the professional translator within a hypothetico-deductive framework, contrasting the outcomes of a number of variables which are inextricably linked to the professional translation process. Given the current trend of allowing the professional translator to connect to Google Translate services within the main Translation Memory (TM) systems via an API, a between-groups design is utilized in which cognitive, technical and temporal effort are gauged between translation and post-editing the statistical MT engine Google Translate. The language pair investigated is English and Welsh. Results show no statistical difference between post-editing and translation in terms of processing time. Using a novel measure of cognitive effort focused on pauses, the cognitive effort exerted by post-editors and translators was also found to be statistically different. Results also show however that a complex relationship exists between post-editing, translation and technical effort, in that aspects of text production processes were seen to be eased by post-editing. Finally, a bilingual review by two different translators found little difference in quality between the translated and post-edited texts, and that both sets of texts were acceptable according to accuracy and fidelity

Performance Improvements through Implementation of Lean Practices: A Study of the U.K. Red Meat Industry

'Lean' is an established industrial paradigm with proven track record in various sectors of the industry (Womack & Jones, 1996). World-class Companies such as Toyota (second biggest global car manufacturer), Porsche (most profitable global OEM), Boeing (largest global aerospace business) and Tesco (third largest global retailer) have adopted Lean at the corporate level. This paper reports on the introduction of 'Lean Thinking' to a new sector - the 'Red Meat Industry' (Food Chain Centre, 2004). This contribution highlights the benefits of lean production techniques in different stages of the red meat value chain and reports 2- 3% potential cost savings at each stage of the chain.Lean process, red meat industry, Takt-time, work standardization, Livestock Production/Industries,

Magnetoencephalography as a tool in psychiatric research: current status and perspective

The application of neuroimaging to provide mechanistic insights into circuit dysfunctions in major psychiatric conditions and the development of biomarkers are core challenges in current psychiatric research. In this review, we propose that recent technological and analytic advances in Magnetoencephalography (MEG), a technique which allows the measurement of neuronal events directly and non-invasively with millisecond resolution, provides novel opportunities to address these fundamental questions. Because of its potential in delineating normal and abnormal brain dynamics, we propose that MEG provides a crucial tool to advance our understanding of pathophysiological mechanisms of major neuropsychiatric conditions, such as Schizophrenia, Autism Spectrum Disorders, and the dementias. In our paper, we summarize the mechanisms underlying the generation of MEG signals and the tools available to reconstruct generators and underlying networks using advanced source-reconstruction techniques. We then survey recent studies that have utilized MEG to examine aberrant rhythmic activity in neuropsychiatric disorders. This is followed by links with preclinical research, which have highlighted possible neurobiological mechanisms, such as disturbances in excitation/inhibition parameters, which could account for measured changes in neural oscillations. In the final section of the paper, challenges as well as novel methodological developments are discussed which could pave the way for a widespread application of MEG in translational research with the aim of developing biomarkers for early detection and diagnosis