Investments/Costs The costs of the introduction of e-business practices for a single small organisation
therefore uncertainty about the viability of the initial investment and the rising cost of maintenance services may reduce their willingness to undertake the necessary investments.
Small organisations are reluctant to invest in ICT rather than concentrating the investments in their core business. 2. THE DIGITAL SYSTEMS EVOLUTION
use and promotion of standards sharing common solutions implementation of digital business ecosystems Investment/Costs Actions:
support for venture capital, investment forum Stafford Beer, Platform for Change,, John Wiley & Sons Ltd, 1995 23 Stafford Beer, Fanfare for Effective Freedom, Cybernetic Praxis in Government, The 3 rd Richard Goodman Memorial Lecture
in addition to their traditional function of regulation and control, investment and provision of public venture capital, which is a traditional task for the Industry sphere (e g.
a form of long-term public-private partnerships that combine private sector investment and/or national and European public funding (five JTIS in 2011)( http://cordis. europa. eu/fp7/jtis/).
/11 For example, increasing network value with higher number of participants, reduction of research projects overlapping through network centralisation, complementary investments for information dissemination that may lead to economic
and then leverage location-specific knowledge assets to induce new investment and create new value. 17 o Creation of new university resources to support the development of new industries or raise the existing ones to a higher level.
External investments as key inputs for regional development come in response to improved infrastructure, fiscal incentives and programmes provided by federal
considering the fact that innovation often equals with heavy investments by a firm, returns to
In other words, the decision by the entrepreneur to engage in innovation is rather a long-term investment to assure the continuing success and future survival of the firm
The problem of the reputation race is that the investments do not always lead to better education and research,
and to policy-makers to consider where in the higher education system investment should be directed for the system to fulfil its social functions optimally.
Students might also be interested in the long-term impact of taking the program as they may see higher education as an investment
Students'opinions may derive from investment or from consumption motives but it is an axiom of economic theories as well as of civil society that persons know their own interest (and experience) best.
1. 5) See above institutional ranking 8 Investment in laboratories for Engineering FBR Investment in laboratories (average over last five years, in millions in national currencies) per student High
Although it implied a major investment of time by the project team, this procedure proved to be very efficient
Whilst public investment might be needed to stimulate economic growth, the political will to tear down the remaining barriers to the European Single Market would also have a positive and significant effect on growth.
However, for all European economies, investments in knowledge-generating assets will translate into important drivers for future productivity growth those drivers being a common focus on education, information and communication technologies,
while making it harder to earn a return on investment. More generally, there is a need for more and better coordination among the various policies and Directorates-General in the European commission,
Thus, Big data call for a radical change to business models and human resources in terms of information orientation and a unique valorization of a company information asset for investments and support for strategic decisions.
Investments: The IT and the business executives must share decisions on the budget for the management and innovation of information assets.
and articulate a vision coherent with market opportunities, effectively engaging customers, employees and other relevant stakeholders Leadership Management Organization Investments in human resources with a mix of new analytical skills and business
''In 2011, GE announced $1 billion investment to build software and expertise on Big data analytics, launching a global software center in San ramon, California.
Big data require top management commitment and investments, in particular, on human resources to be focused on data scientist capabilities.
confirming the importance of a clear and shared Big data strategy together with investments and focus on human resources for capabilities,
Require investment in infrastructure to ensure the effectiveness of the solution 3. 3 Digital Management Solutions 59 degree of freedom in the choice of the device and operating systems;
Furthermore, the solution reduced operating costs by approximately 15%without affecting productivity with an estimated 18 months payback period of the investment 31.
the investment in this solution has covered also a set of training activities by the staff. Indeed, the operators have to be able to scan the barcode using the optical drive of the tablet supplied,
while maximizing IT investments 1. Now, with the concept of Consumerization, the pattern of using technologies and V. Morabito,
and investment parameters 14.5. To stay up-to date with changing and new technologies: by staying aware of technology trends,
but it requires investment in the infrastructure that supports it. The key concerns with this strategy include:
The business value and the Return on Investment (ROI) of a consumerization of IT solution should be investigated,
and allow tracking of benefits and investments. As for technology considerations, common infrastructure-related issues that enterprises are concerned with include:
As a result, many investments in the field of IS or IT have deployed and being implemented cross organizations that are located in different countries and world regions.
such as telephone numbers, email and web addresses, etc. and savvy investments on digital media in the outer context of organizations;
The interest in IT governance is need related to the for compliance and greater accountability of IT investments and use,
IT governance is about the good supervision of IT resources on behalf of the stakeholders who expect a return from their investment.
and benefits in terms of strategic value and return on investments that the above perceived drawbacks may prevent a company to obtain.
Consequently, the outcome of such situation can result in expensive IT systems that do not provide the required results and adequate return on investment.
For this reason, the search for Business/IT Alignment attempts usually concentrated on improving the business value that is a result of the IT investments.
if rights and responsibilities are distributed well among the appropriate Table 8. 5 Key minimum baseline of seven IT governance practices Best practice#Best practice description 1. IT steering committee (IT investment evaluation/prioritisation at executive/senior management
Therefore it can be considered that the e-commerce transformation presents gigantic, significant and risky investments in IT.
and to pursue this end they faced huge advertising investments. However these companies lacked a business model that could convert the number of users who visited their sites in cash flows and profits.
These costs originate from past investments and influence the decisions of both consumers and producers and include several components:
These factors have led to a significant reduction in the profitability of investments in innovation, and since the innovation process involves higher costs and risks,
the creation of value in the form of innovation is based on the transformation of inputs (investments in research and development) into outputs (new products and opportunities),
The investments necessary for research laboratories and the protection of intellectual property correspond to barriers to entry for potential entrants
such as, for example, technology investments, licenses, joint venture agreements and participation in research consortiums. Even the commercialization of innovation and its placing on the market may not be limited to distribution channels inside the company,
and investments on the merchant side may contribute to a rapid growth in adoption. 10.2.1 Developer Instabank is a Russian startup,
In 2012, Instabank received a $4 million investment from a fund by a coalition of large banks investing in financial services projects.
The management team is composed of data scientists, mathematicians, security experts and industry specialist, supported by the investments of some of the founders and CEOS of Google, Paypal, Verisign and Sun microsystems.
what seems a generic profile of a mature business with commensurate margins and the need for re-investment into the next round of innovation.
but require less upfront capital investment. Example sectors are Education and Financial services. As in previous instances, we are very much aware of the necessary constraints this introduces, along two dimensions:
Heavy investment in human capital, particularly the early team Upfront investment in technology Raise money from venture capital funds, angels, friends and family and where possible reinvest earnings as sources
hiring and the foundation for sustainable expansion and capital investment. Frontier Traditional Services Top Quartile sales/assets All Eoy contestants Top Quartile sales/assets All Eoy contestants Top Quartile sales
friends and family funding and on retained earnings to fund short-term investment. Working capital management is a core focus for future investment.
Expectation for private equity/VC to drive capital for future expansion Focus on domestic markets in current operations Similar to Young companies,
with some appetite for expansion into developed though not emerging global markets Current investment focus on technology,
followed by human capital A preference for human capital investment and geographic expansion over R&d for future growth Focus on institutional processes and balancing the growing institutionalization of the firm with the original entrepreneurial culture.
Consequently, their 24 The Bold Ones investment, geographic scope and capital strategies are of particular interest.
Emphasis on human capital in current investment Strong focus on retained earnings to finance investment; bank lending now becomes more important than in earlier phases of the life cycle Ongoing focus on domestic footprint including expansion plans Investment plans are based broader:
human capital and geographic expansion particularly important Once companies have established market presence and built a stable operating platform, investment in human resources (hiring,
training and retention) is seen as critical to sustaining competitive advantage. At the same time, a focus on conservative capital strategies also is observed in successful firms especially in their more mature stages.
Roa for Frontier companies keeps rising (from levels that were depressed initially through the high upfront investment into products
Broad-based current investment plans, across human capital in particular, fixed investment and technology Geographic expansion into both emerging and developed markets,
and a more global footprint overall Investment in productive capacity, M&a and R&d Use of retained earnings and bank/debt financing to fund expansion Strong and prudent use of working capital
innovative investment development opportunities services brands global success sales 36 The Bold Ones Conclusions for entrepreneurs how to run with the best If,
investment, global allude to some of the less tangible enablers that policy makers might want to put in place.
where he most recently was Managing director and Global Head of Strategy, Commercial/Investment Banking and Wealth Management.
he also held positions in Principal Investments and Finance as well as Chief of staff to the Chairman. He joined Barclays Capital in 2002 from Mckinsey & Company.
Hiscock-Croft was a Senior Economist at the investment bank Macquarie. She holds a Master's degree in Financial Econometrics from the University of New south wales
Kevin spent ten years with Mckinsey & Company as part of its North american Wholesale and Investment Banking practice as well as its Corporate Finance and Strategy group in Switzerland.
The study examined the survey responses on factors including investment; access to capital; talent management and expansion strategy.
Investing in entrepreneurship education is one of the highest return investments Europe can make Whether or not they go on to found businesses or social enterprises,
Matthias Ummenhofer, Head, Venture capital, European Investment Fund Figure 13: New Venture Funds Raised in Europe by Investors,
This is illustrated by the fact that the visible share of business angel investments only amounts to approximately 10%of the overall market estimate of €5. 1 billion for 2012.38 However,
the primary focus was on the missing middle of financing larger-thantypical angel investments (up to around €500,
Part of it is linked to higher levels of risk aversion following the financial crisis as investors struggle with an increased regulatory burden. 39 This drop in private investment has seen the role of government agencies in venture capital raised from institutional investors increase from pre-crisis
and expansion stage Private Focusing on private actors The European Business Angel Week will increase visibility of angel investments;
Chief executive officer, Illycaffè Publicprivate Rethinking the role of public entities as co-investors joining private investments Co-investment funds provide 1) the opportunity to invest in larger companies
and 2) increased potential to diversify investment amounts. Take the EBAN/EIF collaboration between business angels and the EIF, for example.
In Portugal, business angels invested €2 million on average prior to the launch of a co-investment initiative;
afterwards, the average investment became €11 million. In the United kingdom, the Scottish Co-Investment Fund (SCF) is a £72 million equity investment fund.
In venture capital, for example, the fund invests £0. 5-2. 0 million in deals of £2-10 million.
provision of pre-seed investment, usually taking a minority share in the start-up; start-ups profit from both events and mentoring.
In SMES, an investment of €1 by Finland's funding agency Tekes produces €21 of turnover annually;
if collaboration fails, loss of investment/independence Ideas/concepts, possibilities to test ideas quickly and outside complex structures, access to technology, rapid prototyping Commercialized innovation in an accelerated process IP
Miles Kirby, Managing director of Qualcomm Ventures, responsible for investments in Western and Eastern europe To systematically foster collaboration between large companies and entrepreneurs we have to start with specific topics e g. 3d printing around
whether that means procurement (corporates buy products and services from startups), strategic investments and eventually acquisition. 56 Finding the right entry point
It is important that we bring something more to the table than investment and scalability potential for the innovations being developed by them.
but the projects would still require substantial investments from other sources. Under Horizon 2020, about €140 million is expected to be allocated until 2020 for Cluster facilitated projects for new industrial value chains
Including a fund of funds of €120 million for business angel co-investment, venture capital and expansion capital (of this,
In addition, the Baltic Innovation Funds (for Estonia, Lithuania and Latvia) has a volume of €200 million for later stage and bigger investments
The Vigo accelerator programme for innovative, high-growth companies has attracted a great deal of direct foreign investment in Finnish start-ups.
For instance, the flagship enterprise Supercell received a €1 billion investment from Japanese investors. This proves that the quality of deal flow has improved.
including loans, guarantees and venture investments, to help tackle the issue. Furthermore, the Danish regions are exploring the opportunity to include successful serial entrepreneurs and professionals from large, existing companies in networks for entrepreneurs with particular potential.
The new Tax Investment Law will introduce radical policy measures, such as 0%corporate tax rate for start-ups in the first three years of operation and a 6%bonus on technology innovation activities.
and we must act decisively in nurturing the best investment environment possible. Against this background, the government recently launched its Industrial Development Strategy for Growth
In 2013, it supported over £650 million of total lending and investment. Current and future challenges of high priority on the policy agenda:
and find new models of co-investment by complementary resources in order to improve capital supply. European states have shown massive engagement to support entrepreneurship.
Co-investment models, both those enabling the state Fostering Innovation-driven Entrepreneurship in Europe 47 to join hands with private actors to top up investments
Investments in pan-European fund structures support the above-mentioned development towards a European single market for risk finance.
Formal long-term employment contracts between individuals and corporations would become investment relationships in which individuals dedicate capacity and skills in a corporate ecosystem.
, European Investment Fund, Luxembourg Fostering Innovation-driven Entrepreneurship in Europe 61 Jeroen Van der veer, Executive Member of the Governing board, European Institute of Innovation and Technology, Hungary;
Yet while some cities are successful in attracting investment and talent, and ensuring prosperity and good public services for their citizens,
direct investment, simple and transparent domestic business regulation, a safety net that protects the most vulnerable these are the primary lessons for good public policy.
foreign direct investment, tourism and attracting foreign talent, and advance these globally as far as possible (as in Singapore;
closing them will require massive investments to avoid barriers to productivity and growth. Urban density is preferable to urban sprawl This includes building tall in city centres,
one of cities connected across land borders, seas and oceans through the exchange of goods and services, foreign direct investment, migrant and short-term workers,
and investment that could add $30 trillion annually to the world economy. By 2025, these cities will be home to 235 million upper-middle-class households with an annual income of more than $20,
GVCS unite exports, imports, foreign direct investment, critical technology and intellectual property in a seamless whole.
having non-discriminatory policies for trade and foreign direct investment; protecting private property rights, including intellectual property;
it determines the rate of return on investments, which fundamentally drives economic growth. In other words, a more competitive economy is likely to grow faster over time,
Foreign economic policies that position a city in the global economy through international trade, finance, foreign direct investment (FDI), foreign workers and tourism, all as part of clusters of economic activity linked to global value chains 3
roads and airports. 4. Soft connectivity Soft connectivity is the social capital that makes investments in hard infrastructure and new technology (e g. broadband access) more productive,
Smart Targeting of Foreign Direct Investment and the Gig Chattanooga, Tennessee offers a strong example of how a city can leverage a customized innovation and probusiness strategy to rebound from economic decline.
Yet in recent years, the city attracted $4 billion in new foreign investment, revitalized its downtown,
Chattanooga's innovation strategy couples investment in cutting-edge technology, workforce skills and forging next-generation public-private partnerships.
and are making large investments into the area (last year, Donald Danforth Plant Science Center and Monsanto announced investments of nearly $500 million to their existing facilities).
and smart tax incentives aimed at attracting investment Boeing would be eligible for a $16. 8 million incentive from the state of Missouri).
and even competed with each other for attracting talent and investment. Despite world-class universities and research labs
Different regions are cooperating instead of competing for investment and talent. Creating one connected regional labour market linked to a multimodal transportation network should give a boost to the region's ability to attract investors.
and has won recently awards as an attractive investment destination, as well as for imaginative urban planning. With 2. 4 million people, Medellin contributes 11%of Colombia's GDP
Benefiting from massive economic transfers from western Germany and investments in new roads, railroads and an upgraded airport,
Wroclaw also successfully attracted EU funds for investment and the development of the private sector,
Investments in transport infrastructure undertaken ahead of the UEFA European Football Championship 2012 helped address one of the city's main challenges.
Foreign Investment Attraction and Success14 Manisa is a city in western Turkey about one hour from the scenic coastal city of Izmir.
Manisa's investment climate is a highly competitive one. In 2005, it was named the best European city for foreign investment
taking the crown among 200 European cities. Some of the characteristics that contributed to Manisa's success were its industrial infrastructure (especially energy infrastructure), its relative close proximity to the port of Izmir and its rapid development of a world-class and high-quality business services environment.
Scheduled investments include a major new hospital and a vast Epcot Center for the Islamic world
investment and labour force but is also a regional hub for a diverse set of industries.
As Morocco's primary highway, railway, sea and air hub, Casablanca has been propelled in part by the investment in hard connectivity,
Casablanca has attracted offshoring investments that have created over 30 000 new jobs through the establishment of the 53-hectare Casanearshore, a home to firms specializing in software development, infrastructure management, back-office banking,
Ahmadabad's model of development, entrepreneurial spirit, proactive policies, rising centres of education and specialized industrial parks have made it a preferred location for investment.
According to the Industrial Entrepreneurial Memorandum (IEM), Ahmedabad attracted an investment of $3. 8 billion in industries ranging from petrochemicals and engineering to drugs and pharmaceuticals from 1988 to 2007.
and investments from global giants like Peugeot and Ford, compared to other Indian cities like Aurangabad, Chennai,
Gurgaon and Pune that have had lower levels of investment and where doing business is not as easy.
Major investments have been made to expand the technological infrastructure. HITEC City, a major technology township that provides integrated infrastructural facilities of office space
improving the investment environment, attracting foreign investment and producing advanced technologies. In the next phase, Zhuhai focused on high-tech industries with intensive technologies and high added value.
Today, in its third phase, Zhuhai seeks to make additional progress on environmental sustainability and to become a model city of scientific development.
Zhuhai implemented reform of its commercial registration system and enterprise investment management system. Low unemployment:
Carefully Targeted Investment Attraction Penang, the Pearl of the Orient, is located in the northwest of peninsular Malaysia
positioning itself strategically by targeted use of its investment-attraction strategy while pursuing diversification. Cebu, Philippines:
fuelling higher tax revenues and wise investment infrastructure, and resulting in more investment and improved human services, has yet to be established.
Taking a leaf out of the experiences of its Asian neighbours, perhaps Cebu needs to come up with a proper master plan to manage its growth sustainably
To reduce the initial investment required for companies and to minimize risks, a special centre is available in the Dubai Internet City, for example,
and explore opportunities without major upfront investments. Many free zone cities exist throughout the UAE, but Dubai has the largest number,
and organizing investments into development projects, and managing them with a corporate mindset. Established in 2004 to consolidate Dubai's major infrastructure and investment projects,
and owned by the government, Dubai Holding was structured in 2009 under four vertical divisions: property, business parks, hospitality and investments.
Special institutions such as the Dubai World trade center and the Dubai Chamber of commerce were established. The city became a global meeting place
and sending shockwaves of concern across the international investment community. Dubai is The Competitiveness of Cities 31 recovering from that situation,
Foreign multinational enterprises (MNES) have nearly $600 billion of investment stock in Singapore, while Singaporean MNES have about $370 billion of investment stock abroad.
But Singapore was poor only two generations ago. Its GDP per capita was just over $500 at independence in 1965.
the Government Investment Corporation), and other government funds (notably the Central Provident Fund, which pools Singaporeans'mandatory savings into healthcare, pensions, housing and other accounts).
This encourages high levels of savings and investment. Personal and corporate income taxes are low, and the tax code is simple, with few exemptions.
Singapore is fully open to foreign investment and has no restrictions on capital flows. And, it is now highly open in service sectors.
2nd in the World Economic Forum's Global Competitiveness Index, 2nd in the Globalization Index (in terms of attractiveness for foreign trade and investment), 5th in the World bank's Logistics Performance Index
Increased levels of direct investment in the city, and a campaign to rebuild and redevelop Detroit,
The city's bankruptcy plan of adjustment also is considering a $148 million investment to replace its antiquated administrative infrastructure,
as well as internal political and economic competition for investment within the region. Consolidation and coordination of tax authorities,
Detroit's competitiveness in the industrial age was based in part on its location and investment in infrastructure for low-cost industrial transportation.
attracting foreign investment and complementary companies to enhance the cluster development initiatives; promoting expansion abroad and setting new instruments to support companies in penetrating new markets;
due to the lack of public and private investment during the period of dictatorship The Competitiveness of Cities 39 Euskadi-Europe‘93, initiated before the creation of the internal market (1987-1993);
inequality and emergency social isolation 2010 Infrastructure (1996-2001) Program, reinforcing the previous budget initiatives and advancing development options Sustainable investments over 30 years Innovation
The economic liberalization era of the 1990s steered companies towards a vision of internationalization and global investment.
A lack of investment in public transportation systems has created a complex, vicious circle that favours the few. According to the ITDP (Mexico), only 5%of the 2012 federal funds for Nuevo León were used for public transportation solutions,
This represents 11%of the national private investment in real estate for that year. Nuevo León is a border state with the United states (Texas). It is an ideal location for business serving the strong USMEXICAN trade relationship,
a) Pre-reform investments (1973-1976: Before the reform and open-policy changes, the State Council Leading Group for Port Construction determined the construction of Ningbo's new port in July 1973. b) Take off period (1978-1992:
The second is the role of foreign investment; foreign capital brings not only capital, but also the technology, management and the market.
with the economic reforms of 1991 exposing it not only to trade and investment flows, but also to the unforgiving glare of global media.
This requires massive investments, especially in emergingmarket cities. Promote urban density, including building tall in city centres,
i e. stable and prudent macroeconomic policies, efficient and simple taxation, a flexible labour market, openness to trade and foreign direct investment, simple and transparent domestic business regulation.
Develop own foreign economic policies on trade, foreign direct investment, tourism and attracting global talent, and go global as far as possible.
be it, for example, at the national macroeconomic (monetary, fiscal and financial) or foreign economic (external trade, foreign direct investment and migration) level.
Stable and prudent macroeconomic policies, efficient and simple taxation, a flexible labour market, openness to trade and foreign direct investment, simple and transparent domestic business regulation, a safety
keeping corporate taxes low, attracting foreign direct investment and upgrading infrastructure. This has enabled the cities to escape postindustrial decline
Being as open as possible to and integrating with the world--through trade, finance, foreign direct investment,
External openness has been critical to Singapore's success in every phase of its post-independence development from attracting MNC-investment for cheap-labour assembly operations to higher-value electronics production
which is subject to the UAE's relatively low federal restrictions on imports and inward investment.
The sample of case studies contains several other cities that have excelled in attracting foreign direct investment (e g.
Busan has made a huge investment in its port and port logistics, and is now a transhipment hub and magnet for global shipping companies.
In Chattanooga, a visionary energy company decided to make incremental investments to provide abundant bandwidth and fast internet connection to households.
Curitiba and Medellin provided hard-infrastructure investments for inclusive transport systems that, in turn, supplied readier access to job locations for low-income communities.
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