Refine
Year of publication
- 2017 (19) (remove)
Document Type
- Journal article (19) (remove)
Language
- English (19) (remove)
Is part of the Bibliography
- yes (19)
Institute
- ESB Business School (19) (remove)
Publisher
Background. The application of lean management is standard in many companies all over the world. It is used to continuously optimise existing production processes and to reduce the complexity of administrative processes. Unfortunately, in higher education, the awareness of lean management as a highly effective methodology is quite low.
Research aims. The research aim is to show how the lean strategy can be applied in university environments. Finally, this paper addresses the question why it is so difficult to implement lean in a university environment and how an institution of higher education can move forward towards becoming a lean university.
Methodology. Based on a literature review, five key lean principles are presented and examples of their implementation are discussed using short case studies from our own institution. We also compare our findings with those in the literature.
Key findings. Lean offers the chance to improve the management of higher education institutions. This requires a commitment on the part of the university top management aiming at convincing all stakeholders that a culture of lean helps the institution to be able to adapt to the rapidly changing environment of higher education.
Royal Philip's goal was to use innovation to improve the lives of three billion people a year by 2025. To reach that goal, the company was shifting from selling medical products in a transactional manner to providing integrated healthcare solutions based on digital health technology ("HealthTech").
This shift required a dual transformation. On one hand, the company needed to transform how healthcare was conducted. Healthcare professionals would have to change the way they worked and reimbursement schemes needed to change to incentivize payers, providers, and patients in vastly different ways. On the other hand, Philips needed to redesign how it worked internally. The company componentized its business, introduced digital platforms, and co-created solutions with the various stakeholders of the healthcare industry.
In other words: Royal Philips was transforming itself in order to reinvent healthcare in the digital age.
How to separate the wheat from the chaff: improved variable selection for new customer acquisition
(2017)
Steady customer losses create pressure for firms to acquire new accounts, a task that is both costly and risky. Lacking knowledge about their prospects, firms often use a large array of predictors obtained from list vendors, which in turn rapidly creates massive high-dimensional data problems. Selecting the appropriate variables and their functional relationships with acquisition probabilities is therefore a substantial challenge. This study proposes a Bayesian variable selection approach to optimally select targets for new customer acquisition. Data from an insurance company reveal that this approach outperforms nonselection methods and selection methods based on expert judgment as well as benchmarks based on principal component analysis and bootstrap aggregation of classification trees. Notably, the optimal results show that the Bayesian approach selects panel-based metrics as predictors, detects several nonlinear relationships, selects very large numbers of addresses, and generates profits. In a series of post hoc analyses, the authors consider prospects’ response behaviors and cross selling potential and systematically vary the number of predictors and the estimated profit per response. The results reveal that more predictors and higher response rates do not necessarily lead to higher profits.
AUDI AG has historically focused on producing and selling premium vehicles but has begun to experiment with providing mobility services, built around car sharing. Its response to the so-called sharing economy addressed strategic and transformational challenges. Strategically, the company pursued additional sources of revenue from targeted, premium mobility services, rather than the less segmented services provided by competitors such as BMW and Zipcar. AUDI AG also transformed its organizational structure, processes and architecture to balance autonomy for innovation and integration for competitiveness.
The European Economic and Monetary Union (EMU) has been in turmoil for more than six years. The present governance rules do not seem to solve the problems neither permanently nor effectively. There is no vision about the future of Europe in the 21st century. This article describes a realignment of the economic governance, which does not necessarily lead to a transfer or political union. However, it solves the current and future challenges. In fact, the redesign of present rules is the most likely as well as legally and economically option today. The key ideais the detachment from the compulsive idea of an ever closer union. However, this vision requires boldness towards greater flexibility together with an exit clause or a state insolvency procedure for incompliant member states.
This paper studies whether a monetary union can be managed solely by a rule based approach. The Five Presidents’ Report of the European Union rejects this idea. It suggests a centralisation of powers. We analyse the philosophy of policy rules from the vantage point of the German economic school of thought. There is evidence that a monetary union consisting of sovereign states is well organised by rules, together with the principle of subsidiarity. The root cause of the euro crisis is rather the weak enforcement of rules, compounded by structural problems. Therefore, we suggest a genuine rule-based paradigm for a stable future of the Economic and Monetary Union.
The purpose of this paper is to study the impact of transparency on the political budget cycle (PBC) over time and across countries. So far, the literature on electoral cycles finds evidence that cycles depend on the stage of an economy. However, the author shows – for the first time – a reliance of the budget cycle on transparency. The author uses a new data set consisting of 99 developing and 34 Organization for Economic Cooperation and Development countries. First, the author develops a model and demonstrates that transparency mitigates the political cycles. Second, the author confirms the proposition through the econometric assessment. The author uses time series data from 1970 to 2014 and discovers smaller cycles in countries with higher transparency, especially G8 countries.
In retail environments, consumers commonly evaluate products while standing on some type of flooring and concurrently being exposed to music; however, no study has examined the interaction of these two atmospheric cues. To bridge this gap, this research examines whether retailers can benefit from creating multisensory atmospheric congruent rather than incongruent retail environments of flooring and music. The results of an experiment in a real retail store reveal positive effects of multisensory congruent retail environments (e.g., soft music combined with soft flooring) on product evaluations. This study provides a new process explanation with consumers’ purchase-related self-confidence mediating these effects. Specifically, consumers in congruent rather than incongruent retail environments experience more purchase-related self confidence, which in turn leads to more favorable product evaluations. Furthermore, this study shows that consumers with a low rather than a high preference for haptic information are influenced more by multisensory atmospheric congruence when evaluating a product haptically.
Decreasing batch sizes in production in line with Industrie 4.0 will lead to tremendous changes of the control of logistic processes in future production systems. Intelligent bins are crucial enablers to establish decentrally controlled material flow systems in value chain networks as well as at the intralogistics level. These intelligent bins have to be integrated into an overall decentralized monitoring and control approach and have to interact with humans and other entities just like other cyber-physical systems (CPS) within the cyber-physical production system (CPPS). To realize a decentralized material supply following the overall aim of a decentralized control of all production and logistics processes, an intelligent bin system is currently developed at the ESB Logistics Learning Factory. This intelligent bin system will be integrated into the self developed, cloud-based and event-oriented SES system (so-called “Self Execution System”) which goes beyond the common functionalities and capabilities of traditional manufacturing execution systems (MES).
To ensure a holistic integration of the intelligent bin for different material types into the SES framework, the required hard- and software components for the decentrally controlled bin system will be split into a common and an adaptable component. The common component represents the localization and network layer which is common for every bin, whereas the flexible component will be customizable to different requirements, like to the specific characteristics of the parts.
Close and safe interaction of humans and robots in joint production environments is technically feasible, however should not be implemented as an end in itself but to deliver improvement in any of a production system’s target dimensions. Firstly, this paper shows that an essential challenge for system integrators during the design of HRC applications is to identify a suitable distribution of available tasks between a robotic and a human resource. Secondly, it proposes an approach to determine task allocation by considering the actual capabilities of both human and robot in order to improve work quality. It matches those capabilities with given requirements of a certain task in order to identify the maximum congruence as the basis for the allocation decision. The approach is based on a study and subsequent generic description of human and robotic capabilities as well as a heuristic procedure that facilities the decision making process.