A chaos related investigation into small manufacturing business financial decision-making dynamics
Hill, Denys Alan (1999) A chaos related investigation into small manufacturing business financial decision-making dynamics. PhD thesis, University of Warwick.
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Official URL: http://webcat.warwick.ac.uk/record=b1369268~S15
Despite the fact that small manufacturing businesses are still the core of
manufacturing in the UK very little is known about their financial dynamics.
This thesis investigates these activities from a chaos and chaos theory related
standpoint. Since chaos treats dynamic situations, and businesses are
intrinsically dynamic, a reasonable expectation is that the one is relevant to the
However as the research progressed, into detailed appraisals, it became evident
that initial, optimistic expectations regarding their relevance were ill-founded.
Therefore a conclusion is reached that chaos and chaos theory, despite a
voluminous literature, have little relevance to financial decision-making in small
manufacturing businesses. The greater part of chaos literature relates to
various branches of mathematics, the physical and life sciences. Economics
occupies third place. Paucity of references to small manufacturing businesses
justifies attempts, such as this, to bridge the gap between them and chaos by
explanatory and, interpretative research.
Chaos is the main artery, one of two main divisions. It is sub-divided into
chaos, the condition, chaos and related theories, and chaology, the techniques.
The other main division comprises first an extended study of small
manufacturing businesses, which have many, sometimes difficult-to-quantify,
financial variables, and secondly hands-on experience as an owner/manager.
Evaluating the two, by comparing and contrasting, was intended to be central to
the thesis. Instead it became apparent that no there is no pre-existing agreement
on key factors. Formulating working definitions ameliorates the problem and
allows the evaluation of chaos, in the context of varied financial success in small
manufacturing businesses, as well as other theories, to proceed. The financial
information needs of their decision-makers, typically owner/managers focus the
Contributions to knowledge are two. First is finding chaos to be only
marginally relevant. Secondly, at the end of the research when considering
chaological techniques, a chain of thought is triggered which leads to a novel,
technology-basesd mall manufacturing business financial information technique.
Small business computerised accounting, and factory loading systems, image
processing, (in which hands-on experience, mentioned in the study was gained),
pattern recognition, shape analysis and artificial intelligence are combined in the
|Item Type:||Thesis or Dissertation (PhD)|
|Subjects:||H Social Sciences > HG Finance|
|Library of Congress Subject Headings (LCSH):||Small business -- Finance -- Great Britain, Manufacturing industries -- Finance -- Great Britain, Chaotic behavior in systems|
|Official Date:||March 1999|
|Institution:||University of Warwick|
|Theses Department:||School of Engineering|
|Supervisor(s)/Advisor:||Whitehouse, D. J. (David J.)|
|Extent:||, 454 leaves|
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