FINANCIAL INTERMEDIATION, ENTREPRENEURSHIP AND ECONOMIC GROWTH

This paper presents a simple general equilibrium model of financial intermediation, entrepreneurship and economic growth. In this model, the role of financial intermediation is to pool savings and to lend the pooled funds to an entrepreneur, who in turn invests the funds in a new production technology. The adoption of the new production technology improves individual real income. Thus financial intermediation promotes economic growth through affecting individuals’ saving behaviour and enabling the adoption of a new production technology.financial intermediation, entrepreneurship, economic growth

Immigrants and Billion Dollar Startups

Immigrants play a key role in creating new, fast-growing companies, as evidenced by the prevalence of foreignborn founders and key personnel in the nation's leading privately-held companies. Immigrants have started more than half (44 of 87) of America's startup companies valued at $1 billion dollars or more and are key members of management or product development teams in over 70 percent (62 of 87) of these companies. The research finds that among the billion dollar startup companies, immigrant founders have created an average of approximately 760 jobs per company in the United States. The collective value of the 44 immigrant-founded companies is$168 billion, which is close to half the value of the stock markets of Russia or Mexico.The research involved conducting interviews and gathering information on the 87 U.S. startup companies valued at over $1 billion (as of January 1, 2016) that have yet to become publicly traded on the U.S. stock market and are tracked by The Wall Street Journal and Dow Jones VentureSource. The companies, all privately-held and with the potential to become publicly traded on the stock market, are today each valued at$1 billion or more and have received venture capital (equity) financing

The (In)Difference engine: explaining the disappearance of diversity in the design of the personal computer

At the time of writing there is a clear perception of all office computers as being more or less identical. Discussion with users entails repetitive rhetoric as they describe a landscape of boring beige boxes. The office PC is indeed a ‘clone’ - an identical, characterless copy of a bland original. Through the exploration of an archive of computer manufacturer’s catalogues, this article shows how previous, innovative forms of the computer informed by cultural references as diverse as science fiction, accepted gender roles and the discourse of status as displayed through objects, have been systematically replaced by the adoption of a ‘universal’ design informed only by the nondescript, self-referential world of office equipment. The acceptance of this lack of innovation in the design of such a truly global, mass-produced, multi-purpose technological artefact has had an enormous effect on the conception, perception and consumption of the computer, and possibly of information technology itself. The very anonymity of the PC has created an attitude of indifference at odds with its potential.</p

Clustering in ICT: From Route 128 to Silicon Valley, from DEC to Google, from Hardware to Content

One of the pioneers in academic entrepreneurship and high-tech clustering is MIT and the Route 128/Boston region. Silicon Valley centered around Stanford University was originally a fast follower and only later emerged as a scientific and industrial hotspot. Several technology and innovation waves, have shaped Silicon Valley over all the years. The initial regional success of Silicon Valley started with electro-technical instruments and defense applications in the 1940s and 1950s (represented by companies as Litton Engineering and Hewlett & Packard). In the 1960s and 1970s, the region became a national and international leader in the design and production of integrated circuit and computer chips, and as such became identified as Silicon Valley (e.g. Fairchild Semiconductor, and Intel). In the 1970s and 1980s, Silicon Valley capitalised further on the development, manufacturing and sales of the personal computer and workstations (e.g. Apple, Silicon Graphics and SUN), followed by the proliferation of telecommunications and Internet technologies in the 1990s (e.g. Cisco, 3Com) and Internet-based applications and info-mediation services (e.g. Yahoo, Google) in the late 1990s and early 2000s. When the external and/or internal conditions of its key industries change, Silicon Valley seemed to have an innate capability to restructure itself by a rapid and frequent reshuffling of people, competencies, resources and firms. To characterise the demise of one firm leading, directly or indirectly, to the formation of another and the reconfiguration of business models and product offerings by the larger companies in emerging industries, Bahrami & Evans (2000) introduced the term `flexible recycling.’ This dynamic process of learning by doing, failing and recombining (i.e. allowing new firms to rise from the ashes of failed enterprises) is one of the key factors underlying the dominance of Silicon Valley in the new economy.ICT;Clusters;Networks;Academic entrepreneurship;MIT;Silicon Valley;Stanford University;Flexible recycling;Route 128

Automation in Hydrographic Survey – The Hydraut Solution

General aspects are treated, to aid in the decision making process for the introduction of automation in hydrography. Partial automation of only one or several of the tasks of data logging, computing, plotting, survey preparation and navigation may be preferable. Design of an optimal system requires close cooperation by experts in automation and hydrography. Flexibility is of extreme importance so that a basic — and relatively cheap — system can be gradually extended to grow with an organisation’s need for more sophistication. The article concludes with the example of a configuration of the Hydraut system, designed by Applied Dynamics Europe and in use by the Dutch Hydrographic Service

The curious case of the refrigerator-TV: similarity and hybridization

This paper examines the role of similarity in the hybridization of concepts, focusing on hybrid products as an applied test case. Hybrid concepts found in natural language, such as singer songwriter, typically combine similar concepts, whereas dissimilar concepts rarely form hybrids. The hybridization of dissimilar concepts in products such as jogging shoe mp3 player, and refrigerator TV thus poses a challenge for understanding the process of conceptual combination. It is proposed that models of conceptual combination can throw light on the judged future success and desirability of hybrid products in general. The composite prototype model proposes two stages of conceptual combination. In the first stage, the concepts are aggregated into an additive hybrid, simply by forming the union of the two sets of attributes. In the second stage, any conflicting attributes are identified and resolved, often with the introduction of emergent attributes, resulting in an integrative hybrid. Across four studies that varied the similarity and type of hybrid products, similar and integrative hybrids were valued more than dissimilar and additive hybrids. Critically, though, dissimilar hybrids were also highly valued if they were integrative. Results supported the two stages proposed by the composite prototype model, and implications for other models of hybrid formation are discussed

Identifying system-wide contact center cost reduction opportunities through lean, customer-focused IT metrics

Thesis (M.B.A.)--Massachusetts Institute of Technology, Sloan School of Management; and, (S.M.)--Massachusetts Institute of Technology, Dept. of Civil and Environmental Engineering; in conjunction with the Leaders for Manufacturing Program at MIT, 2009.Includes bibliographical references (p. 71-72).Dell's long-term success depends on its customers' future buying patterns. These patterns are largely determined by customers' satisfaction with the after-sales service they receive. Previously, Dell has been able to deliver high customer satisfaction but has done so at a high expense, further reducing the low margins on their consumer product line. Dell's Global Consumer Services and Support organization (GCSS) is constantly innovating to lower its operating costs while maintaining customer satisfaction. Their task is difficult to achieve in part because of the broad scope of problems that Dell's customer service agents (CSAs) tackle and the grey areas of support boundaries. In order to identify and correct the root-causes of these contact-center costs, Dell needs the ability to measure the specific cost of supporting individual customers. Yet, no such customer-centric data framework exists at Dell, or indeed in the contact center industry. However, it is possible to create just such a customer focused data framework by applying an automated value stream mapping (VSM) analysis to a large sample of contact-center activity data from Dell's data warehouse. The resulting data set is a collection of digital value stream maps representing the end-to-end customer service experience of each contact-center customer. After performing the proposed data transformations, these customer-focused metrics (CustFM) are shown to yield significant insights into previously unidentifiable cost reduction opportunities available across Dell's global contact-center network.by Avijit Sen.S.M.M.B.A

Using intellectual property strategy to assess and develop product architecture

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