1.0 Introduction
SmartStaff Scheduler is an employee scheduling software for businesses of all sizes. Our intuitive and easy-to-use platform helps you optimize your staffing needs without sacrificing time or productivity. With our unique features, organizations can create custom schedules tailored to their business’s specific needs, such as group scheduling and resource management, while providing real-time updates on shift modifications, holiday availability, and more. SmartStaff Scheduler also integrates with payroll systems so employees can get paid accurately faster than ever before. Additionally, we offer predictive analytics tools that help decision-makers improve workforce performance based on individual preferences for shifts and hours worked per week, allowing them to manage resources efficiently and cost-effectively, ensuring they remain successful in the long run.
1.1 Job scopes
As an in-house innovator for SmartStaff Scheduler, my role and responsibilities are to develop innovative and efficient solutions that will improve current processes within the software (Higon, 2016, p 816). This involves brainstorming new ideas, designing prototypes of potential features, working with engineers to create a functional version, and iterating on user feedback until the feature is ready for launch. As well as developing new tools or technologies to serve our customers better. I am also responsible for staying abreast of trends in our industry, such as emerging technology or data analysis techniques so that we can continue to remain competitive in today’s market by identifying what other companies might be doing differently from us – this allows us to stay one step ahead (Chen et al., 2018, p 89). Additionally, I provide thought leadership around how these same technologies could work together holistically across multiple departments while keeping cost-effectiveness at top priority – allowing me to help drive strategic decisions about where resources allocated should go when it comes time for budget planning cycles each year. Ultimately, it’s up to me to ensure productivity within our teams remains high no matter what initiatives have been proposed or adopted recently and ultimately ensure customer satisfaction through successful product releases.
1.2 The New Innovative Product
SmartStaff Scheduler’s newest innovative product is our real-time employee scheduling and conflict resolution tool. This cutting-edge software solution allows for quick and easy scheduling of shifts, resources, vacation time, sick days, or any other relevant information needed to effectively plan out staff needs for upcoming business activities. Our unique feature sets us apart from competitors in the market by providing an instantaneous view into available shift vacancies while also allowing managers to identify potential overlaps between existing assignments, thereby ensuring no conflicts arise before they become a problem.
Additionally, this automated system can generate automatic notifications if modifications need to be made throughout the day—ensuring everyone involved remains up to date on all changes within minutes instead of hours like manual processes require. As well as incorporating predictive analytics into our platform, which will help decision-makers visualize resource utilization performance data based on individual preferences when assigning tasks or duties, making it easier than ever before for employers to make informed decisions about their workforce. With SmartStaff Scheduler’s new employee scheduling and conflict resolution tools, your organization can now ensure efficient operations without sacrificing quality – just what you need in today’s competitive landscape.
1.2.1 Purpose and Design
The purpose of SmartStaff Scheduler’s new employee scheduling and conflict resolution tool is to provide quick, easy, and efficient staffing solutions for businesses of all sizes. Our intuitive design allows for accurate scheduling while also finding potential problems before they become a reality (Batistic et al., 2016, p 579). Predictive analytics are included to provide decision-makers with data-driven insights about resource utilization performance based on individual preferences when assigning tasks or duties across multiple departments – making it easier than ever before for employers to make informed decisions about their workforce. We have designed our software so that it is user-friendly yet highly functional – providing automated notifications if modifications need to be made throughout the day–ensuring everyone involved remains up to date on all changes within minutes instead of hours like manual processes require (Guan & Frenkel, 2018, np). Additionally, we incorporate customizable features such as group scheduling as well as reporting capabilities which allow users to create custom schedules tailored specifically suited towards company policy or particular events, thereby maximizing productivity at minimal cost.
1.2.2 Potential Market and Competitors
SmartStaff Scheduler is a unique product in the industry of employee scheduling and conflict resolution tools. It has the potential to be used by businesses of all sizes, ranging from small start-ups to corporate giants (Scoonthodu & Shetty, 2021, p 257). Our competitors include BambooHR When I Work, and Deputy – three leading providers in this market that provide similar solutions but lack some features available on our platform, such as predictive analytics or an automated notification system for shift modifications made during the day. This allows us to stand out amongst these other products as we are able to focus more time spend on improving customer satisfaction while still delivering stellar results (Badre, 2021, np). We believe with our innovative solution coupled with high-quality customer service offered, SmartStaff Scheduler will become the go-to choice when it comes to finding software for managing resources efficiently at a minimal cost.
PESTEL, Porter Five Forces SWOT, STP Analysis
Porter’s Five Forces:
Threat of New Entrants – Low due to the need for specialized knowledge and experience in developing employee scheduling software.
Bargaining Power of Suppliers – Low since there is a large pool of providers offering similar services, which drives down prices.
Bargaining Power Buyers – Medium, as customers can choose from among several competitors who offer products with comparable features and capabilities, making them an attractive choice for buyers.
Threats Substitutes – Medium, as many companies may find other ways, such as manual processes, to manage their resource utilization needs, but they have limited scalability when compared to automated solutions.
Rivalry Among Existing Competitors- High; this market has intense competition between existing players like BambooHR, When I Work, and Deputy, all vying for a larger share of the customer base.
SWOT Analysis:
Strengths – Predictive analytics tools that allow decision-makers to improve workforce performance based on individual preferences and automated notifications if modifications are needed.
Weaknesses– Limited understanding of our platform within the industry, leading to brand awareness issues and limited resources and expertise when it comes to marketing our services.
Opportunities – Increasing demand for software solutions that can help manage resource utilization more efficiently.
Threats – Increasing competition from existing competitors providing similar products with comparable features and potential for new entrants in the market disrupting prices or introducing innovative solutions which may make us obsolete.
STP:
Segmentation: Businesses of all sizes need efficient employee scheduling and conflict resolution tools.
Targeting: Organizations looking for cost-effective automated processes without sacrificing productivity and those seeking real-time updates on shift modifications, and holiday availability. Positioning – SmartStaff Scheduler is an intuitive yet powerful customer-centric platform that provides cutting-edge technology backed with high-quality service ensuring maximum organizational success.
Competitors such as BambooHR, When I Work, and Deputy offer similar solutions but lack some features available on our platform, such as predictive analytics or an automated notification system for shift modifications – setting us apart from these products.
1.2.3 Potential Revenue, Costs, and Capital Investment
Product sales revenue for SmartStaff Scheduler will be determined by the price strategy, market demand, and sales predictions. Assume an average price of $50 per user license, and you expect to sell 10,000 licenses in the first year based on market research and desired market size. As a result, the potential revenue from product sales in the first year is $500,000.
Costs of Development: The costs of building SmartStaff Scheduler, including software development, testing, and quality assurance, can vary greatly based on the product’s complexity and features. Let’s say the development costs roughly $200,000.
Marketing Expenses: To raise awareness and promote SmartStaff Scheduler, we may want to set aside money for marketing initiatives such as advertising, internet campaigns, content production, and events. Assuming a $50,000 marketing budget for the first year. Moreover, operational expenses include personnel, infrastructure, hosting services, customer support, and maintenance. The first year’s operational costs are roughly $100,000.
Funds from Personal savings, angel investors, and venture money are all possible sources of funding. We will provide $100,000 of your own money to the project. For the loans, if we need more money, we might think about getting a business loan. The amount will be determined by our personal financial demands as well as the terms of the loan arrangement. The loan we may obtain can be for $200,000.00.
2.0 New Innovative Product Conceptual Development
The first step in developing SmartStaff Scheduler’s new innovative product is to fully understand and identify the needs that our customers have when it comes to employee scheduling and conflict resolution. This includes conducting market research, gathering insights from user feedback as well as analyzing industry trends. Once this data has been collected, we can then begin conceptualizing potential features within our software or additional tools and technologies that could serve them better than ever before (Floren et al., 2018, p 411). During this phase, basic designs will be created for what these solutions may look like, along with a list of requirements needed for their integration into a platform – such as hardware specs. After which, development begins by utilizing engineers who help turn wireframes into working models while also ensuring compliance with various laws surrounding customer data protection. QA testing would follow next to ensure product functioning correctly once released onto the market (Krasyuk et al., 2019, p 1). Finally, launch process starts reminding customers about updates made so they are aware of any changes pertinent use case. Lastly, post-launch analysis was conducted to gather performance metrics to determine how successful the release was upon completion of all steps taken.
2.1 Secondary Data
Secondary data can be used to illustrate industry trends and imperatives when it comes to new product development. For example, according to a survey conducted by Software Advice in 2016, 50% of businesses reported that their biggest challenge with employee scheduling was “conflicting availability” (Software Advice Report). This trend indicates an imperative for SmartStaff Scheduler’s new innovative product, the real-time scheduling and conflict resolution tool, which has been designed specifically to tackle this issue head-on. In another survey from the same year, 69 per cent of respondents also indicated that they wanted software solutions which could help them better manage resources while still maintaining cost-effectiveness (Software Advice Report). Again, these highlights need our predictive analytics tools to provide decision-makers insights into resource utilization performance based on individual preferences when assigning tasks or duties across multiple departments, all while keeping budget considerations at top priority (Manzini & Lazzarotti, 2016, p 579).
Lastly, recent reports show rapid growth within the market of automated workforce management solutions due to increasing demand for digital transformation initiatives being implemented by many small medium size companies around the world. Our platform provides the necessary functionality crucial success of these initiatives, thus positioning ourselves well to capitalize on potential short and long-term gains. Ultimately secondary data helps us get a clear picture of larger market needs providing invaluable guidance in developing products that fit the customer base’s desires ensuring successful launches every time.
2.2 New Product Development (NPD)
The new product development process includes initiation, planning, and design phases. During the initiation phase, team members collaborate to determine what products should be developed and how they will meet customer needs by conducting market research and gathering insights from user feedback (Thome et al., 2016, p 2195). The second stage involves building a plan for launching the proposed product, which may include budgeting and cost-estimating milestones and timelines and identifying potential roadblocks or areas of improvement that need to be addressed along the way. Initial wireframes have been created after this decision about designing a new offering. The next step is engineering. Here engineers begin turning designs into functioning models, ensuring compliance with internal standards and safety laws surrounding customer data protection, followed closely by timely QA testing that can guarantee bug-free launches (Gao & Bernard, 2018, p 1545). Before the launch, promotional activities such as advertising campaigns and social media postings help raise awareness about updates which are industrial suite steps that must take to create a successful NPD cycle. Given all the above, mentioned goes without saying the importance of preparation beforehand importance must be overstated for correct execution. These processes ensure marketplace success objectives meet the allocated time frame, ultimately leads higher ROI investments and capital expended, making an ideal situation for both customer provider sides.
2.2.1 Innovation Theories
Product innovation theory refers to a process-oriented approach for developing and managing products through the stages of initiation, planning and design. This can be applied to SmartStaff Scheduler’s new product development cycle by integrating it with our existing team structure in order to ensure successful launches every time (Khan et al., 2021, p 4081). During the initiation phase, key stakeholders will collaborate to determine what types of features should include or exclude the final offering based on market research as well as feedback gathered from customers about desired needs. When done properly, this ensures the target audience is met while also minimizing the amount of resources allocated, thus increasing ROI investing. Once the plan has been established, engineers begin working on turning wireframes into actual functioning models, meeting both internal standards and safeties.
Furthermore, timely QA testing conducted catches any bugs prior to launch itself. Doing so not only spares us with potential embarrassment but also makes sure customers are absolutely satisfied upon receiving their updates. After which promotional activities such as advertising campaigns and social media postings help spread the word to those who might otherwise missed information (Reinhardt et al., 2018, p 268). Finally, post-release analysis is carried out to measure success achieved by return investments made throughout the entire NPD cycle Product Innovation Theory allows companies to manage products more effectively and develop them quickly and efficiently, satisfying ever-changing marketplace needs, thus keeping one step ahead of competition in long run.
2.2.2 New product development process
The new product development process involves steps that help ensure successful launches. The first step is idea generation, where team members collaborate to identify potential concepts for the proposed product by conducting market research, gathering insights from user feedback, and analyzing industry trends (Johnson et al., 2017, p 640). Once ideas have been generated, they are screened using criteria such as customer need or cost-benefit analysis to narrow down which ones should move forward into more extensive testing. This leads into the concept testing stage, where prototypes will be developed around said concept, focusing on improving features while incorporating design elements unique enough to set themselves apart from the competition.
Ultimately, this allows us to gain helpful insight into how customers interact with our products, providing invaluable data regarding decision-making (Bashir et al., 2017, p 176). After the phase is complete, planning begins, which involves budgeting and breaking the timeline determined. Business Analysis then takes place, allowing teams to evaluate the feasibility project based on resources available current external landscape Product development follows closely behind, where engineers work to implement design machines while QA testers guarantee bug-free releases. Test marketing becomes an essential puzzle piece, allowing real-world scenarios to be recreated to measure performance (Venesz et al., 2022, p 24).
Moreover, strategy-driven promotional activities keep customers informed of any updates made within an industrial suite. Finally, commercialization signals the beginning and end stages of the NPD cycle, whereby we begin to monitor and evaluate results and compare them against expectations derived during inception to prepare necessary changes for future endeavours. All above mentioned require considerable preparation and hard work to ensure the process goes smoothly. Always strive for high ROI rewards investments capital expended market.
2.3 Critical success factors for an effective NPD
Regarding the new product development of SmartStaff Scheduler, several critical success factors need to be considered for a successful launch. Firstly, technological viability is critical – meaning the concept and ideas from our team must be created considering current external landscapes (competitors’ products and services) and internal specifications regarding customer data protection (Floren et al., 2018, p 411). This helps validate the idea behind the product making sure we spend resources developing something viable market. Secondly, creating successful, marketable solutions raises more awareness about said offerings – thus helping us build a more extensive base of customers over time without significantly increasing expenses. We do this by investing in advertising campaigns and social media postings to help get the word out. Thirdly commercial viability requires us to ensure that cost-benefit analysis works in favour of remaining competitive prices whilst still providing high-quality service (Dwivedi et al., 2021, p 34).
Lastly, technical documentation needs to be kept up date all times so customers are aware of any modifications made within the industrial suite quickly. Making sure these four essential criteria are fulfilled during the NPD cycle will guarantee effective launches while allowing the company to receive rewards, investments, and capital expended target audience becoming a reality (Salgado et al., 2017, p 140). The steps mentioned above closely lead to success when talking about new innovative offerings such as SmartStaff Scheduler.
3.0 Product Commercialization Process
The commercialization process of a new product is essential in ensuring success, and the same applies to SmartStaff Scheduler’s innovative real-time scheduling and conflict resolution tool. The first step in this process involves conducting market research – gathering insights from user feedback and analyzing industry trends to understand how our competitors are doing things differently from us or which features may need improvement (Budi & Aldianto, 2020, p 47). Once these needs have been identified, prototypes will be created with a focus on improving features while also incorporating design elements unique enough to set itself apart from the competition – again allowing us to gain helpful insight into how customers interact with our products providing invaluable data when comes time decision making. After the prototype has been finalized, it then undergoes the Test Marketing stage, where multiple scenarios recreated test performance levels metrics are measure.
Finally, Commercialization signals the beginning and end stages whole cycle here; promotional activities such as advertising campaigns and social media postings remind customers of updates the industrial suite conducted to get the word out effectively. At the same time, Technical Documentation must be updated and inform you of any changes made within the platform (Norman et al., 2017, p 197). Developing Internal Guidelines helps employees throughout the organization comply with the established requirements and standards. All the steps mentioned above help guarantee successful launches whilst keeping costs minimal. From the perspective provider standpoint, correct execution of these processes leads to higher ROI investments and capital expended.
In contrast, customer-side satisfaction rates remain high, just as both parties ourselves want to see results. Checking the status of each different phase can quickly be done through dashboards, allowing instant updates on progress. That way, the teams involved stay on top of product developments minute while ensuring the launch process goes according to plan.
3.1 Commercialization and Management
The market adoption theory is essential for commercializing the new product SmartStaff Scheduler’s innovative real-time scheduling and conflict resolution tool. The first step in this process involves conducting customer research to understand our target audience’s needs – gathering insights from user feedback and analyzing industry trends which helps us create a segmentation strategy explicitly tailored towards them (Dobrenkov et al., 2017, np) . Once these segments have been identified, prototypes will be made with a focus on improving features while incorporating design elements unique enough to set itself apart from the competition – again allowing us to gain helpful insight into how customers interact with our products providing invaluable data when decision making comes time. After the prototype has been finalized, test marketing begins where multiple scenarios recreated measure performance levels metrics. From there, Promotion and Advertising campaigns were launched to help raise awareness of new offerings. Technical Documentation must keep updated at all times to ensure customers are aware of modifications made within the platform (Malec et al., 2020, p 228).
Moreover, developing Internal Guidelines ensures compliance standards are maintained throughout the organization. Lastly, correct execution of these processes results in higher ROI investments and capital expended, ensuring successful launches, just what both parties’ providers want to see the result. When successfully implemented, proper management strategies are crucial to running the whole process smoothly. That way, teams involved stay top developments minute, ensuring they marketed adequately and reach out to their desired audiences on time, ultimately leading to increased customer satisfaction rates, achievable through adoption theory.
3.2 Furthered Development in the Future
The new product SmartStaff Scheduler’s innovative real-time scheduling and conflict resolution tool can be further developed in the future. Firstly, continued research into customers should be conducted to understand what features may need improvement or which ones they would find most beneficial when using our platform. This helps us create a segmentation strategy tailored to them, ensuring maximum success when launching new offerings (Qamar & Samad, 2022, p 251). Secondly, continual prototyping and testing is essential for validating ideas before releasing them onto the market, as this allows proper debugging operations to occur so that no problems arise once released. Thirdly promotional activities such as advertising campaigns and social media postings help spread the word effectively. At the same time, technical documentation must keep updated to ensure customers are aware of modifications made within the industrial suite. At the same time, developing Internal Guidelines makes sure compliance standards are maintained throughout the organization.
Finally, correct execution of these processes results in higher ROI investments and capital expended, ensuring successful launches, just what both parties’ providers want to see the result. When successfully implemented, proper management strategies are crucial to running the whole process smoothly (Becker & Smidt, 2016, p 149). That way, teams involved stay on top of developments minute, ensuring products marketed properly reach their desired audiences promptly. Ultimately, with knowledge gained from market analysis and dedicated effort exerted during the post-launch phase, further development becomes a reality to improve user satisfaction rates to even greater levels than ever before.
4.0 Personal Learning and Reflection
I gained useful insights and reflections during the theoretical study experience of the new product development process, from idea generation to commercialization, that relate directly to SmartStaff Scheduler’s novel real-time scheduling and dispute resolution application. One crucial takeaway is the significance of conducting thorough market research and understanding client wants. The cornerstone of any successful product is idea development, and it is critical to discover the pain areas and issues that customers encounter. In the case of SmartStaff Scheduler, market research and user feedback revealed a clear need for efficient employee scheduling and conflict resolution tools. This experience has underlined the importance of ongoing customer contact and remaining current on industry changes to ensure that the solution fits their changing demands.
The concept testing phase is also crucial. This process entails developing prototypes and refining the product’s features in response to user feedback. The prototypes for SmartStaff Scheduler were created to address conflicting availability and give predictive insights for resource use. We may acquire significant insights into how customers engage with the product through concept testing and make informed judgments regarding essential modifications and enhancements. This lesson emphasizes the iterative nature of product development as well as the significance of incorporating user feedback throughout the process.
Another essential factor to evaluate is the product’s commercial feasibility. As we move closer to commercialization, conducting a cost-benefit analysis becomes increasingly important. It is critical to ensure that the product’s features fit with market demands while keeping the price competitive. This experience has underscored the importance of balancing cost-effectiveness with high-quality service delivery. The purpose of SmartStaff Scheduler has been to maximize productivity at the lowest possible cost by providing configurable scheduling, automated notifications, and connectivity with payroll systems.
Overall, the theoretical study experience has produced useful insights and learnings that immediately relate to SmartStaff Scheduler’s new solution, from concept inception to commercialization. Each stage of the process adds to the product’s success, from recognizing customer demands and performing market research to refining prototypes based on user feedback and assuring commercial feasibility. Furthermore, the focus on effective marketing and communication methods emphasizes the significance of raising awareness and engaging with the target audience. Applying these lessons to SmartStaff Scheduler will help to build and launch a solution that matches customer needs, offers value, and achieves market success.
5.0 References
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