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This international research project, based on the work of a consortium of five European countries led by the University of Salford in the area of Enterprise Cultural Heritage (ECH), (the term describing an organisation's history and its creations that have the potential to uniquely innovate and differentiate their products and services), demonstrates the following impact:
The University of Surrey has developed a set of tools that is enabling us to develop innovative web-based information systems with much lower resources than has formerly been possible.
These tools and techniques are being exploited by a University of Surrey spinout, Rulemotion.
The underlying platform has now been used to develop eight distinct business systems. A key feature of our approach is that it enables the business domain to be modelled in structured natural language (using the Object Management Group (OMG) supported standard SBVR [for Semantics of Business Vocabularies and Rules]). The server side functionality is then generated from the business model. Rulemotion is the first organisation to offer such extensive support of SBVR. This is a key fusion of the Business Analysis (Business Rules) and Information Technology domains — the gulf between these two communities has been an area of tension for the past 30 years.
Organisations in the social housing sector have a model of how to use information to monitor the outcomes of their activities. Drawing on research which places information in its organisational context, the mechanism of Knowledge Transfer Partnerships has been used to enable Nottingham City Homes to pioneer the evaluation of its activities focusing on a major investment programme called Decent Homes. Cited in Parliamentary debates, not only has the impact shifted the strategic direction of the organisation's activities, but also it has been adopted as a model of best practice for the sector.
Research led by Stephen Taylor has resulted in the development of forecasting methods for financial market prices and [text removed for publication] analytical tool at the Macro-Financial Analysis Division of the Bank of England. These methods have been cited in papers by employees of the European Central Bank, the Central Banks of Brazil, Norway and Mexico and the Italian Securities and Exchange Commission. The ability to manage risk by making more accurate predictions about financial market prices has been particularly important since the onset of the economic and financial crisis in 2008. Taylor has developed forecasting methods to make the best use of information recorded about recent asset and derivative prices, providing more precise expectations about future stock index levels, exchange rates and interest rates. Taylor's 2005 text on `Asset Price Dynamics, Volatility and Prediction' has also had significant and far-reaching impact on students learning about Finance and Economics worldwide.
Between 2010 and 2012, Professor Luciano Floridi transferred knowledge about epistemological issues in the philosophy of information to Sogeti, an international information technology consultancy; and, via Sogeti, to technology and business leaders in Europe and beyond, influencing their planning for and adaptation to technological change. In the realm of public policy, Floridi developed guidelines and protocols surrounding ethical problems concerning digital and online information. He chaired a European Commission group whose `manifesto' forms part of the EU's Digital Futures initiative; influenced thinking around IP and international trade agreements; and contributed to a UNESCO action plan on ensuring equitable access to information.
Since its inception in 2005, Bangor Business School's Centre for Business Research (CBR) has developed a research agenda focusing on the North West Wales (NWW) EU convergence region, which is dominated by Small-to-Medium sized Enterprises (SMEs) with a distinctively bilingual (Welsh/English) flavour operating in a rural setting. This research has had a significant impact on both local and regional economies by changing the strategies for innovation and growth of individual SME's. The achieved impact came in the form of tangible growth (5% in one instance), successful bidding & grant acquisition (£400K in one case), improved marketing and customer-management, and enhanced knowledge transfer partnerships, which are reflected in greater employment opportunities as evidenced from the supportive statements of the main users of this research
An enhanced appreciation of entrepreneurship, innovation and new enterprise growth has become crucial to economic policy around the globe. Led by Professor Gordon Murray OBE, research at the University of Exeter continues to play a significant role in broadening understanding of this increasingly important area. Murray's research and expertise have assisted in shaping policy in several countries, including the UK, and have underpinned the formation of an influential international academic policymaker forum. The effective delivery of Murray's research to the world of business and industry has strengthened the vital links with academia, and through consistent engagement with a wider audience in high-profile media appearances, Murray's research continues to influence economic policy.