32 research outputs found

    Mixing and mix proportioning of fibre reinforced concrete

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    SIGLEAvailable from British Library Document Supply Centre-DSC:DX200558 / BLDSC - British Library Document Supply CentreGBUnited Kingdo

    Performance configurations over time: implications for growth- and profit-oriented strategies

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    Strategic entrepreneurship can be described as simultaneous opportunity seeking and advantage seeking. Younger firms are generally more flexible and therefore enjoy 'discovery advantages', whereas established firms tend to be resource rich and more experienced and consequently enjoy 'exploitation advantages'. The resulting evolution of the two important performance dimensions 'growth' and 'profitability' by firm age is not well understood. In this paper we integrate several theoretical arguments concerning profit-growth relationships to develop a dynamic model of firm development which suggests different development pathways for young firms. This leads to several unidirectional, competing hypotheses that we examine by studying the profitability-growth configurations of approximately 3,500 small firms and how these configurations evolve over time. We find that for both young and old firms, a focus on achieving above-average profitability and then striving for growth is a more likely path towards achieving sustained above-average performance than is first pursuing strong growth in the hope of building profitability later. In line with our hypothesis we find that younger firms are over-represented as 'Stars' (high on both growth and profitability) and under-represented as 'Poor' (low on both growth and profitability). However, young firms in the 'Star' category are also less likely than their older counterparts to maintain that position. Furthermore, our results indicate that young firms are over-represented not only among 'Stars', but also among growth-orientated firms regardless of the level of profitability. The findings strongly caution against the blind pursuit of growth for young firms, in favor of a thoughtful analysis of how both growth and profitability might be developed by firms. The results also question whether simultaneous high performance in terms of growth and profitability among young firms usually reflects a successful entrepreneurial strategy. The results can also be interpreted as luck on the part of a sub-group of young firms who indiscriminately pursue growth opportunities with varying profit prospects, and in many cases the high growth-profit performance will be short lived

    How should toxic secondary metabolites be distributed between the leaves of a fast-growing plant to minimize the impact of herbivory?

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    1. This paper considers the possibility that the key determinant of leaf age feeding preferences in foliovores is not the concentration of either nutrients or secondary metabolites, but is the ratio of the two. 2. In some fast-growing plants, nitrogen is most heavily defended by defensive toxins in the young leaves. This empowers the use of a simple model of leaf-age preference, based on the conflict between maximizing nutrient intake and minimizing toxicosis. 3. Young leaves are particularly valuable, not only because they lock up nitrogen, but also because their assimilative value is high. We calculate the loss of value due to herbivory and find that, if the herbivore is moderately intolerant of toxicity and feeds selectively on its predicted optimal leaf age, the costs of damage are greatly reduced. However, efficient toxin distribution protects the plant only if it grows rapidly, so that the well protected young foliage retains a high value. 4. The trends are reconcilable with observed leaf-age preferences of both polyphagous and oligophagous species. There is, as yet, little empirical evidence to substantiate the model, but it may be useful for future studies to focus on the toxin:nutrient ratio as a potentially important determinant of feeding preferences
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