Applying the balanced scorecard for better performance of intellectual capital

Purpose - One of the responses to criticisms of traditional forms of accounting reports for knowledge-based firms has been the development of the balanced scorecard (BSC), a strategic performance measurement framework and methodology based on a family of performance measures. This paper aims to examine the issue of measuring performance in relation to a major Australian company, The Fosters Brewing Group, where a newly appointed CEO reversed a decline in performance by adopting, among other initiatives, the balanced scorecard approach to management. Design/methodology/approach - The paper takes the form of a case study,applying the theoretical framework of the BSC to a declining business in order to achieve a turnaround. Findings - The paper discusses how a newly appointed CEO of The Fosters Brewing Group reversed a decline in performance by adopting, among other initiatives, the balanced scorecard approach to management. Research limitations/implications - The BSC is a practical framework to deal with the intangible nature of knowledge, while ensuring that such investments in knowledge and management align with and contribute to their strategic direction. Practical implications - The paper provides an example of a company using the BSC to deal with the imperative of making investments in knowledge and management skills. Originality/value - There is a growing body of literature on the limitations of traditional accounting statements that measure tangible, physical assets to capture the current and future value of knowledge. This paper illustrates a framework using the BSC to manage and measure the intangible nature of knowledge

Wave-piercing catamaran transom stern ventilation process

The new class of highly fuel-efficient medium-speed catamarans operate at speeds where the transom is partially or fully ventilated, hence it is important to understand the characteristics of the wake for resistance prediction. Unsteady Reynolds-Averaged Navier Stokes simulations were used to simulate the flow around a 98 m catamaran, at both model and full scale, and compared to model test results for a 1:22 scale model. A non-shedding squashed horseshoe vortex was found to build up in the stagnant zone past the vessel, with the transom running dry at transom draft Froude numbers of 2.5 in model test experiments and at transom draft Froude numbers of 2.4 in numerical simulations. For full-scale Reynolds numbers, ventilation occurred at transom draft Froude numbers of 2.2. Finally, unsteady Reynolds-Averaged Navier Stokes simulations are capable of accurately predicting the recirculating flow in the wake of the vessel and the state of transom ventilation

Fluorescence spectroscopy and its applications: A Review

Fluorescence spectroscopy is a rapid, sensitive method for characterizing molecular environments and events samples. Fluorimetry is chosen for its extraordinary sensitivity, high specificity, simplicity and low cost as compared to other analytical techniques. It is widely accepted and powerful technique that is used for a variety of environmental, industrial, medical diagnostics, DNA sequencing, forensics, genetic analysis and biotechnology applications. It is a valuable analytical tool for both quantitative and qualitative analysis. This article presents a brief overview of the theory of fluorescence spectroscopy, together with examples of applications of this technique in organic and inorganic chemistry, medical diagnosis, medical science etc