Balancing the Tradeoff between Personal Fulfillment and Competitiveness in Venture Creation

The fascination of venture creation is associated with an entrepreneur’s opportunity of achieving personal fulfillment. In reality, however, many nascent entrepreneurs discover that much of their original vision is sacrificed in the process of creating a startup. In this paper we address the conflict between the entrepreneur’s fulfillment and the startup’s competitiveness from a negotiationanalytic perspective. We show how the nature of this conflict is transformed in the process of business planning, and we demonstrate how a purely marketoriented focus on expansion serves to enhance personal fulfillment. Our analytical approach has practical implications for business development and entrepreneurial education.Venture Creation, Business Development, Negotiation Analysis

Procedural Support for Cooperative Negotiations: Theoretical Design and Practical Implementation

We discuss the theoretical design of algorithms for solving distributional conflicts within groups. We consider an algorithm to be procedural if the implementation of the outcome requires the participation of the players, or if it can even be conducted by the players themselves without computational assistance. We compare two procedures for multilateral problems of fair division; both establish envy-freeness, given the possibility of monetary compensations between players

Perceiving the Value of Business Planning

The value of business planning has been subject to much controversy over the past years. In-deed, there appears to be an escalation in empirical research, with opposing implications and diverging approaches to teaching entrepreneurship. Most empirical studies have taken an ex-post, comparative view of the relationship between planning and performance. In this paper, we introduce an ex-ante perspective by formally characterizing the decision of the nascent entrepreneur whether or not to start a business and whether or not to plan beforehand. We focus on the evaluative function of business planning, define the information value of busi-ness planning, identify its influencing factors, and show how costs of business planning de-termine the quality of planning. We find as the crucial aspect of good evaluative business planning that it helps to identify and to sort out poor business ideas before they reach the mar-ket. We contrast our results with conclusions drawn from empirical studies that have been critical of planning. In a setting in which, by construction, planning has a positive value, we question several popular negative implications by showing how they result from an incom-plete sample of entrepreneurs

Bidding for envy-freeness: A procedural approach to n-player fair-division problems

We develop a procedure for implementing an efficient and envy-free allocation of m objects among n individuals with the possibility of monetary side-payments. The procedure eliminates envy by compensating envious players. It is fully descriptive and says explicitly which compensations should be made, and in what order. Moreover, it is simple enough to be carried out without computer support. We formally characterize the properties of the procedure, show how it establishes envy-freeness with minimal resources, and demonstrate its application to a wide class of fair-division problems.fair-division procedures, envy-freeness

Balancing the Tradeoff between Personal Fulfillment and Competitiveness in Venture Creation

The fascination of venture creation is associated with an entrepreneur\u27s opportunity of achieving personal fulfillment. In reality, however, many nascent entrepreneurs discover that much of their original vision is sacrificed in the process of creating a startup. In this paper we address the conflict between the entrepreneur\u27s fulfillment and the startup\u27s competitiveness from a negotiationanalytic perspective. We show how the nature of this conflict is transformed in the process of business planning, and we demonstrate how a purely marketoriented focus on expansion serves to enhance personal fulfillment. Our analytical approach has practical implications for business development and entrepreneurial education

Fair-Negotiation Procedures

By viewing negotiation problems as problems of fair division, one can apply intuitive procedures to a variety of complex conflicts. This, however, requires the negotiated issues to be interpreted as items to be divided among the parties involved. In this paper, we go in the opposite direction and reformulate fair-division algorithms as practical, cooperative negotiation procedures, in order to apply them to a more general class of multiple-issue negotiations. We study three qualitatively different but related approaches that consist of two simple and intuitive steps. The first step ensures an efficient outcome, and the second step establishes "fairness" through a redistribution of gains. We show that the distribution mechanisms have different procedural implications, when they are used in 'issue-by-issue' negotiations.

Building Business Models around Sustainable Development Goals

By specifying the UN’s sustainable development goals as quantifiable target groups, one can address these targets directly. We develop four generic business model designs based on two fundamental decisions: Should value be created for or with the target group, and should income be generated through market revenues or positive externalities

A matheuristic approach to solve the multi-objective beam angle optimisation problem in intensity modulated radiation therapy

Selecting a suitable set of beam angles is an important but difficult task in intensity modulated radiation therapy (IMRT) for cancer treatment. From a single objective point of view this problem, known as beam angle optimisation (BAO) problem, is solved by finding a beam angle configuration (BAC) that leads to the best dose distribution, according to some objective function. Because there exists a trade-off between the main goals in IMRT (to irradiate the tumour according to some prescription and to avoid surrounding healthy tissue) it makes sense to solve this problem from a multi-objective (MO) point of view. When doing so, a solution of the BAO problem is no longer a single BAC but instead a set of BACs which lead to a set of dose distributions that, depending on both dose prescription and physician preferences, can be selected as the preferred treatment. We solve this MO problem using a two-phase strategy. During the first phase, a deterministic local search algorithm is used to select a set of locally optimal BACs, according to a single objective function. During this search, an optimal dose distribution for each BAC, with respect to the single objective function, is calculated using an exact non-linear programming algorithm. During the second phase a set of non-dominated points is generated for each promising locally optimal BAC and a dominance analysis among them is performed. The output of the procedure is a set of (approximately) efficient BACs that lead to good dose distributions. To demonstrate the viability of the method, the two-phase strategy is applied to a prostate case

Fair negotiation procedures

Raith MG. Fair negotiation procedures. Working Papers. Institute of Mathematical Economics. Vol 300. Bielefeld: Center for Mathematical Economics; 1998