Religious adherence and county economic growth in the US

We estimate a Barro-type conditional convergence model using religious adherence data from the American Religious Data Archive to analyze independent effects of church adherence rates on economic growth in the United States at the county-level. Per capita income growth is modeled as a function of initial per capita income, initial human capital stock, and a set of control and related variables including religious adherence, religious diversity, and regional indicator variables. We also investigate the independent effects of three main denominations, namely Catholics, Evangelical Christians, and Mainline Christians, on county economic growth. Our results indicate that the religious adherence in general is significantly greater than zero and not beneficial for US county income growth. We find mixed results for effects of various denominations.     

Supporting innovation and venture development in established companies

Accumulated research findings call into question the ability of established corporations to develop and manage new ventures successfully. This article argues that the problem comes in large part from failing to differentiate between the requirements of administrative management—geared to managing existing activities and holding things in place to ensure continuation of already-developed activities—and the requirements of entrepreneurial management—designed to create change by developing something new. The two kinds of management are in tension and may interfere with each other, but every established organization needs both in order to get both innovation and efficiency.Innovations and new ventures have four particular characteristics that account for their special management requirements: uncertainty, knowledge-intensivity, competition with alternative courses of action, and boundary-crossing. Thus entrepreneurial management to support creation of the new puts a stress on such features as visionary leadership, “patient money,” planning flexibility, team continuity/stability, and interfunctional cooperation. But the usual requirements of administrative management in established corporations contradict these principles. Thus some companies try to set their new ventures apart from the old to avoid conflicts in management requirements. However, this this only partially solves the problem.All companies need both to manage ongoing activities and to create new ones—with the proportions of each depending on the nature of the business. They need to strike a balance between administrative and entrepreneurial management. The problem of venture development in established corporations occurs when administrative management comes to dominate and innovation is not valued sufficiently. The command system of administrative management needs to be replaced by a mutual adjustment system.High innovation companies build mutual adjustment into their design. They allow flexibility to move into an entrepreneurial mode. They are characterized by broader jobs: structures built around small business units or functionally complete project teams; cultures stressing the ability of people to contribute more over time; and easy access to the key “power tools” of information, support, and resources.A more entrepreneurial corporation minimizes hard-and-fast rules and procedures governed by a rigidly defined command structure and emphasizes instead flexibility and broadly-skilled sets of employees in flexible units that can be grouped or regrouped as changing circumstances require.Large corporations must institute deliberate programs to encourage innovation and entrepreneurship, including removing the roadblocks of unnecessary administrative requirements; encouraging integration across departments and functions: changing budgeting and accounting procedures and providing internal venture capital and special project funds; discretionary time; and new business performance measures.     

Plastic wastes and the market penetration of auto shredders

In recent years the increased interest in the recycling of plastic wastes has lead to the development of numerous technological approaches to utilizing plastic wastes of varying qualities and types. A major problem with these technologies, however, is the unacceptable contamination levels in the available wastes. This paper examines one area from which relatively uncontaminated plastic wastes can be obtained—shredder residue from automotive shredder operations. In addition to reviewing the historical adoption of shredders, this paper uses econometric approaches to investigate the extent to which the shredder technology has penetrated the market for scrap steel. These approaches suggest that the movement toward shredders and away from the more conventional baler operations that have historically been used to process retired autos is slowing.     

Research and development policy in the USA: Implications for satellite communications

Research and development in fields as diverse as microelectronics and space vehicles have profoundly affected the technologies of information transmission, as well as the way in which government regulates the communications and information service industries. This article focuses on R&D policy in the USA, drawing from 1984 OTA reports. The article focuses briefly on industry and universities and at greater length on government actions and policies, indicating possible implications for communication satellites.     

Media allocation model using nonlinear benefit curves

An integral part of planning advertising campaigns involves the selection of those media vehicles that maximize the effectiveness of the advertising effort. This article describes a media allocation model designed to provide the media planner, responsible for a particular advertising campaign, with relevant information for use in selecting the most appropriate media vehicles and in determining the number of insertions in each vehicle. It is based on the derivation of nonlinear benefit curves for candidate media vehicles that can be derived from commercially available response data and from subjective estimates gathered from media planning experts. When tested in an actual advertising campaign, the results serve to provide relevant information that can make the media allocation decision a more objective one.     

Setting multinational industrial marketing strategies

Nations of the world are striking out, from various starting points, along a variety of new development paths, reflecting a widespread repudiation of the conventional economic model of development based on a common, predetermined roadway to progress. Marketers who are bound by tradition may perceive the alternative development approaches as threats to standardized marketing strategies. Innovative marketers will view them as important keys to expanded market opportunities throughout the world.     

The effective use of marketing research consultants

Relatively little has been written about effectively managing the buyer-seller relationship for marketing research services. To provide insights into effectively managing this relationship, a survey of both buyers and sellers of marketing research services was conducted. Major findings were that proper problem definition, a familiarity with research methods by the research buyer, and continuous communication between buyer and seller were critical determinants of a successful consultant relationship. For best results the market research buyer-seller relationship should be treated as a mutually beneficial one, not one of conflict or acrimony.     

Criteria used by venture capitalists to evaluate new venture proposals

A questionnaire was administered to one hundred venture capitalists to determine the most important criteria that they use to decide on funding new ventures. Perhaps the most important finding from the study is direct confirmation of the frequently iterated position taken by the venture capital community that above all it is the quality of the entrepreneur that ultimately determines the funding decision. Five of the top ten most important criteria had to do with the entrepreneur's experience or personality. There is no question that irrespective of the horse (product), horse race (market), or odds (financial criteria), it is the jockey (entrepreneur) who fundamentally determines whether the venture capitalist will place a bet at all.The question is if this is the case, then why is so much emphasis placed on the business plan? In a business plan there is generally little to indicate the characteristics of the entrepreneur—it is generally devoted to a detailed discussion of the product/service, the market, and the competition. To us, the implications are obvious—such content is necessary, but not sufficient. The business plan should also show as clearly as possible that the “jockey is fit to ride” —namely, indicate by whatever feasible and credible means possible that the entrepreneur has staying power, has a track record, can react to risk well, and has familiarity with the target market. Failing this, he or she needs to be able to pull together a team that has such characteristics and show that he or she is capable of leading that team.Factor analysis of the results indicate that venture capitalists appear to assess ventures systematically in terms of six categories of risk to be managed. These are: risk of losing the entire investment: risk of being unable to bail out if necessary; risk of failure to implement the venture idea; competitive risk; risk of management failure; and risk of leadership failure.Finally, three clusters of venture capitalists were identified: those who carefully assess the competitive and implementation risks: those who seek easy bail out; and those who deliberately keep as many options open as possible.     

Regulatory issues in regional satellite communications: Towards a USA - Mexico bilateral agreement

This article examines the issues raised by the drawing up of a bilateral agreement for satellite communications between the USA and Mexico. Mexico has been mainly leasing capacity from INTELSAT and is developing its own Morelos satellite system. Both the USA and Mexico are keen to develop transborder satellite telecommunications services, but before coming to an agreement both parties must arrive at a clear definition of the main concepts that will constitute the agreement. Key concepts being analysed are: services classification, the reciprocity principle, economic harm to INTELSAT, and technical harm to INTELSAT.