Innovative and noninnovative small firms: types and characteristics

Article Abstract:

The different management characteristics of innovative and noninnovative firms are examined. Cluster analysis of 50 manufacturing firms in Texas yielded two innovative groups and three noninnovative groups. The Innovative firms were either grouped as young aggressive companies called 'Young Turks', or established, competent firms called 'Blue Chips'. The noninnovative firms consisted of 'Striving Stoics' headed by executives who were in control longer than the average, 'Silver Spoons' who were living on past successes, or 'Kismets' who showed lower effort and competence levels. Results indicate that a positive relationship exists between innovation and scanning. Additionally, heterogeneity and environmental dynamism can have a positive effect on innovation, and proactiveness is encouraged by a large supply of resources.

Management, Small business, Entrepreneurship, Comparative management

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On the minimum of a nonconvex inventory function

Article Abstract:

A non-convex, bivariate minimization problem arising in a heuristic inventory model is examined. Even though the model used for the problem does not fulfill the standard second order conditions, the existence and uniqueness of the solution can be determined. The means of the first-order conditions and the shape of the lead time demand distribution can be used to identify the global minimum for this model.

Stochastic processes, Approximation theory, Approximation

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