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Business process management and IT supported processes are an actual topic. The procedure of finding a business process system that implements your processes the best way is not easy and takes a lot of time. In this article you will find a recommendation for an open source system. Four selected open source workflow management systems are tested and analyzed. Mean criteria for the evaluation are listed in a criteria catalogue and rated by experts by their importance. Finally, the systems are evaluated by the criteria and the best evaluated system can be recommended.
Will chatbots play a significant role for B2B marketingin the future? Chatbots in B2B businesses
(2022)
Digitalization has gained a foothold in our everyday lives. However, it remains to be seen what digital tools B2B companies can benefit from. During the last few years, chatbots have been on the rise and have played a more significant role in B2B marketing. Thus, this research follows a literature review to examine the current state of B2B chatbots. With this, the study will discover the buyer’s preferences for chatbots compared to sales agents and the role of chatbots in different stages of the B2B sales funnel.
Whither the german council of economic experts? The past and future of public economic advice
(2014)
The article discusses the development and impact of the German Council of Economic Experts (GCEE). Firstly, the author studies the historical origins and the institutional setup of the GCEE. In the second step, an analyse of the impact of the annual reports of the German Council is given, along with the international comparison with other advisory boards. Finally, the paper discusses the current economic challenges and the need of modernization of the GCEE in special and political advisory boards in general.
This paper develops a new governance scheme for a stable and lasting European Monetary Union (EMU). I demonstrate that existing economic governance is based on flawed incentives especially due to insufficient macroeconomic coordination, failures of institutional enforcement and animal spirit in financial markets. All this caused the European sovereign debt crisis in 2010. Consequently, the EMU crisis is not a conundrum at all rather a failure of national and supranational governance. To tackle this problem, I propose a return to flexible but compulsory rules driven by market forces. The new governance principles shall promote the compliance and effective enforcement of rules.
The implementation of human resource (HR) policies often proves troublesome due to the appearance, and stubborn persistence, of gaps in the process. Human resource management (HRM) scholars problematise these gaps and advocate tight implementation to reduce gaps and to ensure the desired impact of policies on organisational performance. Drawing on organisational institutionalism, we contend that gaps in implementing HR policies can actually be productive, as they secure organisational legitimacy, and thus enable organisations to operate viably within several institutional environments. We suggest that different approaches to implementation are needed, some of them premised on accepting sustained implementation gaps. We introduce minimum and moderate implementation approaches, rooted in the notion of decoupling, to complement approaches aimed at tight implementation. Our aim is to support the further development of research based on a richer interpretation of HRM implementation challenges and choices they present for HR managers.
This study examines the underexplored areas of customer success management, focusing on the impact of leadership and companywide collaboration, and the role of customer success in overall firm performance. A qualitative research approach was utilized, which involved reviewing relevant literature and conducting an interview with the Vice President of Customer Success Management in B2B at a case company. Findings revealed that both leadership and pervasive collaboration greatly enhance the customer journey experience. Given that 75% of Annual Recurring Revenue is derived from existing customers, the substantial role of customer success in propelling business growth is affirmed. The study also demonstrated the importance of proactive customer engagement, assimilating customer feedback into products and services, and nurturing personal relationships with customers for fostering innovation. It further stressed the need for service provision and decision-making at various levels, as well as the implementation of a range of communication channels, to ensure customer success.
Small Island Developing States (SIDS) face tension between economic growth and environmental impact. Tourism fuels growth, but the resulting solid waste and other pollutants threaten the SIDS’ natural beauty, quality of life for residents, attractiveness to tourists, and economic success. We assess the tension between tourism-driven economic growth and environmental degradation from a limits-to-growth perspective, developing a generic system dynamics model of the problem using 38 years of data from the Maldives to estimate parameters and Monte-Carlo methods to assess the sensitivity of results to uncertainty. We contrast development paths for the next three decades under three sets of policies focusing on promoting growth, managing tourism demand–supply balance, and improving waste management. Findings are counterintuitive; policies focused on better waste management alone are self defeating, because they increase tourism, growth and waste generation, undermining attractiveness and growth later. Policies that limit tourism demand improve economic and environmental health.
Wasted paradise – imagining the Maldives without the garbage island of Thilafushi : Version 1.2
(2016)
To address the high level of waste production in the Maldives, the local government decided to transform the coral island of Thilafushi into an immense waste dumb in 1992. Meanwhile, each day, 330 tons of waste is ferried to Thilafushi. The policy had the positive consequence of relieving the garbage burden in Malé, the main island, and surrounding tourist atolls. However, it can also lead to serious environmental and economic damage in the long range. First, the garbage is in visual range of one of the most prominent tourist destinations. Second, if the wind blows a certain way, unfiltered fumes from burning waste travels to tourist atolls. Third, water quality can erode as hazardous waste from batteries and other toxic waste is floating in the ocean. Over time, these effects can accumulate to significantly hamper the number of tourists that travel to the Maldives – one of the state’s main sources of financial income. In our paper, we lay out the situation in more detail and translate it into a simulation model. We test different policies to propose the Maldives government how to better solve the waste problem.
This study investigates how integrated reporting (IR) creates value for investors. It examines how providers of financial capital benefit from an improved firm information environment provided by IR. Specifically, this study investigates the effect of voluntary IR disclosure on analyst earnings forecast accuracy as well as on firm value. To do so, we use an international sample of 167 listed companies that voluntarily publish an integrated report. Our analysis shows no significant effect of a voluntary IR publication on analyst earnings forecast accuracy and no significant effect on firm value. We thus do not find evidence for the fulfillment of IR's promises regarding improved information environment and value creation of voluntary adopters. We conclude that such companies might already have a relatively high level of transparency leading to an absent additional effect of IR disclosure. Positive effects of IR appear to be more relevant in environments where IR is mandatory.
This study examines the phenomenon of Virtual Influencer (VI) marketing and its impact on customer purchase behavior. The aim is to understand the scope and impact of VI marketing. The study compares VI marketing to traditional Human Influencer (HI) marketing and identifies the unique benefits and challenges associated with VIs. A survey was conducted to gain insight into consumer attitudes and behaviors toward VIs. Key findings reveal varying levels of trust and acceptance of VIs among consumers. While some participants expressed openness to buying products promoted by VIs, others had reservations about their authenticity. The study also explores the potential role of VIs in the metaverse, highlighting business opportunities and challenges in this evolving digital landscape. Overall, this research sheds light on the growing influence of VIs and the need for further research in the field of marketing.
Venture capital and the innovative power of a state : econometric study including Google data
(2015)
This article focuses on venture capital investments and the innovative power of a state defined by its public infrastructure. The economic implications are evaluated by estimating several panel regression models. The novelty is twofold: on the one hand the research approach and on the other hand the new data set. The data ranges from 1995 to 2014 and consists of 10 European countries plus the US and Canada. For the first time we include Google search data on Venture Capital. The results show a significant increase in Venture Capital is mainly determined by economic conditions such as real GDP growth. The impact of the innovative power of a state is not significant. We find that Google data is positively related and significant in respect to Venture Capital investments too. Consequently, we confirm that private business investments cannot be created by government policy alone rather via solid macroeconomic conditions.
Values Management System
(2022)
The ValuesManagementSystem (VWS) is a management standard to “provide a sustainable safeguard of a firm and its development, in all dimensions (legal, economic, ecological, social)” (VWSZfW, p. 4). It includes a framework for values-driven governance through self-commitment and self-binding mechanisms. Values promote a sense of identity and give organizations guidance in decision-making. This is especially important in decision-making processes where topics are not clearly ruled by laws and regulations.
VMSZfW must be embedded in the specific business strategy, structure, and culture of an organization. The following four steps describe the implementation of the ValuesManagementSystemZfW: (i) Codify core values of an organization, for instance, with a “mission, vision and values statement” or Code of Ethics, (ii) implement guidelines such as Code of Conduct and specific policies and procedures, (iii) systematize these by establishing management systems such as Compliance and CSR management systems, and (iv) finally organize and establish structures to ensure the strategic direction and operational implementation and review of these processes. The top management shows that values management is taken seriously by their self-commitment to the core values of the company.
This article investigates the fundamental value of digital platforms, such as Facebook and Google. Despite the transformative nature of digital technologies, it is challenging to value digital services, given that the usage is free of charge. Applying the methodology of discrete choice experiments, we estimated the value of digital free goods. For the first time in the literature, we obtained data for the willingness-to-pay and willingness-to-accept, together with socio-economic variables. The customer´s valuation of free digital services is on average, for Google, 121 € per week and Facebook, 28 €.
Product engineering and subsequent phases of product lifecycles are predominantly managed in isolation. Companies therefore do not fully exploit potentials through using data from smart factories and product usage. The novel intelligent and integrated Product Lifecycle Management (i²PLM) describes an approach that uses these data for product engineering. This paper describes the i²PLM, shows the cause-and-effect relationships in this context and presents in detail the validation of the approach. The i²PLM is applied and validated on a smart product in an industrial research environment. Here, the subsequent generation of a smart lunchbox is developed based on production and sensor data. The results of the validation give indications for further improvements of the i²PLM. This paper describes how to integrate the i²PLM into a learning factory.
Process quality has reached a high level on mass production, utilizing well known methods like the DoE. The drawback of the unterlying statistical methods is the need for tests under real production conditions, which cause high costs due to the lost output. Research over the last decade let to methods for correcting a process by using in-situ data to correct the process parameters, but still a lot of pre-production is necessary to get this working. This paper presents a new approach in improving the product quality in process chains by using context data - which in part are gathered by using Industry 4.0 devices - to reduce the necessary pre-production.
Managerial accountants spend a large part of their working time on more operational activities in cost accounting, reporting, and operational planning and budgeting. In all these areas, there has been increasing discussion in recent years, both in theory and practice, about using more digital technologies. For reporting, this means not only an intensified discussion of technologies such as RPA and AI but also more intensive changes to existing reporting systems. In particular, management information systems (MIS), which are maintained by managerial accountants and used by managers for corporate management, should be mentioned here. Based on an empirical survey in a large German company, this article discusses the requirements and assessments of users when switching from a regular MIS to a cloud-based system.
Unraveling the double-edged sword : effects of cultural diversity on creativity and innovativeness
(2014)
Cultural diversity is considered a “double-edged sword” (Kravitz, 2005) as research on its effects on teams’ performance regularly delivers inconsistent and contradictory results. This paper makes an attempt to unravel the double-edged sword by discerning different forms of cultural diversity: separation and variety (Harrison & Klein, 2007). Based on a review of the literature, a conceptual model is developed hypothesizing that cultural variety yields positive, while cultural separation yields negative effects on team creativity and innovativeness. In addition the effects of national diversity are contrasted to proof whether national diversity can serve as a proxy for cultural diversity as is often practiced. The model is tested on a sample of 113 student teams of Entrepreneurship modules at 4 European universities. Cultural diversity is measured directly on the basis of individual team members’ cultural value orientations by means of the CPQ4 (Maznevski, DiStefano, Gomez, Noorderhaven & Wu, 2002). Data is analyzed using the PLS structural equation modeling technique. The results confirm the hypothesized impacts of cultural variety and separation on creativity but do not deliver evidence for impacts on innovativeness. Same is true for national diversity. Interestingly, national diversity does not show any relation to neither form of cultural diversity.
Forecasting demand is challenging. Various products exhibit different demand patterns. While demand may be constant and regular for one product, it may be sporadic for another, as well as when demand occurs, it may fluctuate significantly. Forecasting errors are costly and result in obsolete inventory or unsatisfied demand. Methods from statistics, machine learning, and deep learning have been used to predict such demand patterns. Nevertheless, it is not clear for what demand pattern, which algorithm would achieve the best forecast. Therefore, even today a large number of models are used to forecast on a test period. The model with the best result on the test period is used for the actual forecast. This approach is computationally and time intensive and, in most cases, uneconomical. In our paper we show the possibility to use a machine learning classification algorithm, which predicts the best possible model based on the characteristics of a time series. The approach was developed and evaluated on a dataset from a B2B-technical-retailer. The machine learning classification algorithm achieves a mean ROC-AUC of 89%, which emphasizes the skill of the model.
The United Nations (UN) Global Compact is a call to companies to align their strategies and operations with ten universal principles in the areas of human rights, labor, environment, and anti-corruption, and to take actions that advance societal goals (UN Global Compact 2017, p. 3). The UN Global Compacts’ vision is “to mobilize a global movement of sustainable companies and stakeholder to create the world we want” (UN Global Compact 2021a). It is a global network with local presence all around the world.