Institutional logics, blended and suspended

This paper examines how a new institution, a code of conduct, arises and develops over time. It shows how the process of debate airs competing logics, questions and fails to question assumptions taken for granted, and yet achieves a large degree of legitimacy without having resolved certain core issues. The UK code of corporate governance has been emulated around the world as a model of good practice. By examining in detail one aspect of the debate – the issue over unitary or two-tier boards – the paper shows how the contest of logics leads not just to new, blended or hybrid logics, but also to suspended logics. The process of consultation brings together actors from differing organizational fields and institutional orders, offering an opportunity to create a new field in a different order, with specific lessons for the practice of corporate governance and general lessons for institution-building

A framework of justification criteria for advanced manufacturing technology implementation in small and medium enterprises

Today in order to stay in businesses and prosper, Small and Medium Enterprises (SMEs) are seeking higher electiveness and competitiveness across the entire cycle of marketing, product design, manufacture, test and sales. SMEs play an increasingly important role in all aspects of competitiveness: both products and production techniques, but also management methods, the organization of the firm and human resources training. One of the ways by which SMEs can achieve a competitive advantage in manufacturing is through the implementation of Advanced Manufacturing Technology (AMT). An increasing number of them have chosen and are choosing various levels of AMT as the solution. Realizing the importance of SMEs, an attempt has been made in this paper to review the application of AMT in SMEs. Also, a framework has been offered for the implementation of AMT in SMEs. Finally, a summary of findings and conclusions are presented

Detecting a Currency's Dominance or Dependence using Foreign Exchange Network Trees

In a system containing a large number of interacting stochastic processes, there will typically be many non-zero correlation coefficients. This makes it difficult to either visualize the system's inter-dependencies, or identify its dominant elements. Such a situation arises in Foreign Exchange (FX) which is the world's biggest market. Here we develop a network analysis of these correlations using Minimum Spanning Trees (MSTs). We show that not only do the MSTs provide a meaningful representation of the global FX dynamics, but they also enable one to determine momentarily dominant and dependent currencies. We find that information about a country's geographical ties emerges from the raw exchange-rate data. Most importantly from a trading perspective, we discuss how to infer which currencies are `in play' during a particular period of time

An investigation into the effects of computer integrated manufacturing systems in the productivity of SMEs in Pakistan

The current dynamic and turbulent manufacturing environment has forced companies that compete globally to change their traditional methods of conducting business [Producer to consumer]. Recent developments in manufacturing and business operations have lead to the adoption of Computer Integrated Manufacturing (CIM) technologies that are based on systems and processes that support global competitiveness, especially for Small and Medium Enterprises (SMEs). Organizations and SMEs in particular need to re-evaluate every aspect of their manufacturing strategy and quickly move towards a CIM based environment where manufacturing technologies, business strategies and processes are integrated together. This paper highlights the development of a CIM adoption model that has resulted from empirical work generated from SMEs in Pakistan. The model consists of the parameters such as Top Management Support, System Integration, Marketing, and over all performance

A methodology for the selection of new technologies in the aviation industry

The purpose of this report is to present a technology selection methodology to quantify both tangible and intangible benefits of certain technology alternatives within a fuzzy environment. Specifically, it describes an application of the theory of fuzzy sets to hierarchical structural analysis and economic evaluations for utilisation in the industry. The report proposes a complete methodology to accurately select new technologies. A computer based prototype model has been developed to handle the more complex fuzzy calculations. Decision-makers are only required to express their opinions on comparative importance of various factors in linguistic terms rather than exact numerical values. These linguistic variable scales, such as ‘very high’, ‘high’, ‘medium’, ‘low’ and ‘very low’, are then converted into fuzzy numbers, since it becomes more meaningful to quantify a subjective measurement into a range rather than in an exact value. By aggregating the hierarchy, the preferential weight of each alternative technology is found, which is called fuzzy appropriate index. The fuzzy appropriate indices of different technologies are then ranked and preferential ranking orders of technologies are found. From the economic evaluation perspective, a fuzzy cash flow analysis is employed. This deals quantitatively with imprecision or uncertainties, as the cash flows are modelled as triangular fuzzy numbers which represent ‘the most likely possible value’, ‘the most pessimistic value’ and ‘the most optimistic value’. By using this methodology, the ambiguities involved in the assessment data can be effectively represented and processed to assure a more convincing and effective decision- making process when selecting new technologies in which to invest. The prototype model was validated with a case study within the aviation industry that ensured it was properly configured to meet the

An assembly oriented design framework for product structure engineering and assembly sequence planning

The paper describes a novel framework for an assembly-oriented design (AOD) approach as a new functional product lifecycle management (PLM) strategy, by considering product design and assembly sequence planning phases concurrently. Integration issues of product life cycle into the product development process have received much attention over the last two decades, especially at the detailed design stage. The main objective of the research is to define assembly sequence into preliminary design stages by introducing and applying assembly process knowledge in order to provide an assembly context knowledge to support life-oriented product development process, particularly for product structuring. The proposed framework highlights a novel algorithm based on a mathematical model integrating boundary conditions related to DFA rules, engineering decisions for assembly sequence and the product structure definition. This framework has been implemented in a new system called PEGASUS considered as an AOD module for a PLM system. A case study of applying the framework to a catalytic-converter and diesel particulate filter sub-system, belonging to an exhaust system from an industrial automotive supplier, is introduced to illustrate the efficiency of the proposed AOD methodology

A Critique on Turkish Real Estate Market

We discuss issues of real estate price bubble, the extent of wealth effects, affordability, financial deepening and credit market risks. Our simulations indicate that given current wealth levels, cost of credit and maturity, average homes are not affordable by average consumers. The market requires further reduction in the cost of credit and extension of maturity to manage a significant demand shift in the real estate market. We present evidence that Turkey’s credit markets are shallow to result in a banking crisis emerging from real estate credits. Finally, we document evidence in favor of the presence of wealth effects on consumption.

Perception and Cognition Are Largely Independent, but Still Affect Each Other in Systematic Ways: Arguments from Evolution and the Consciousness-Attention Dissociation

The main thesis of this paper is that two prevailing theories about cognitive penetration are too extreme, namely, the view that cognitive penetration is pervasive and the view that there is a sharp and fundamental distinction between cognition and perception, which precludes any type of cognitive penetration. These opposite views have clear merits and empirical support. To eliminate this puzzling situation, we present an alternative theoretical approach that incorporates the merits of these views into a broader and more nuanced explanatory framework. A key argument we present in favor of this framework concerns the evolution of intentionality and perceptual capacities. An implication of this argument is that cases of cognitive penetration must have evolved more recently and that this is compatible with the cognitive impenetrability of early perceptual stages of processing information. A theoretical approach that explains why this should be the case is the consciousness and attention dissociation framework. The paper discusses why concepts, particularly issues concerning concept acquisition, play an important role in the interaction between perception and cognition