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Strategic alliances have become important strategic options for firms to achieve competitive advantage. Yet, there are many examples of alliance failures. Scholars have studied this phenomenon and identified many reasons for alliance failure, including lack of trust between the partnering firms. Paradoxically, the concept of trust is still not fully understood, specifically how and under what conditions trust comes to break down within the broader process of alliance building. We synthesize a process model that describes the “alliance capability”, including trust, openness, partner contributions, and relational rents. We then translate this framework into a formal simulation model and analyze it thoroughly. In analyzing trust dynamics we identify and explore a tipping boundary, separating a regime of alliance failures and successes. We apply our core findings to openness strategies – decisions about how much knowledge to share with partners. Our analyses reveal that strategies informed by a static mental model of trust, contributions, and openness, under undervalue openness. Further, too little openness risks early failure due to the being trapped in a vicious cycle of trust depletion.
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.
The conventional view of the value-creation chain suggests offering high-value propositions at the product level (in terms of benefits provided by elements of the product) to attain high-value perceptions at the customer level, which should ultimately result in high-value appropriation at the firm level (i.e. relationship, volume, pricing and financial success). This study challenges this view and provides a differentiated understanding of the value creation chain. With a multi-industry sample of 339 companies and a sample of 626 customers to validate managerial assessments, the authors apply a configurational approach to identify whether and to what extent offering high-value propositions at the product level is necessary or sufficient for achieving superior value perceptions at the customer level and high-value appropriation at the firm level. Taking into account the company-internal and company-external environment of the value-creation chain, the study identifies seven value creation chain constellations.
The success of an autonomous robotic system is influenced by several interdependent factors not easily identifiable. This paper is set to lay the foundation of a new integrated approach in order to deeply examine all the parameters and understand their contribution to success. After introducing the problem, two cutting edge autonomous systems for the process of unloading of containers will be presented. Then the STIC analysis, a recently developed method for modelling and interpreting all the parameters, will be introduced. The preliminary results of applying such a methodology to a first study case, based on one of the two systems available to the authors, will be shortly presented. Future research is in the end recommended in order to prove that this methodology is the only way to efficiently and effectively mitigate the risk that stops potential users from investing in autonomous systems in the logistics sector.
THE PROBLEM: Companies create problems for customers and employees when product innovation goes unmanaged. Eventually, excessive operational complexity hurts the bottom line.
THREE SOLUTIONS: Focus on product integration, not product proliferation. Make sure your product developers work closely with customerfacing and operational employees. And settle on a high-level purpose that can guide decision making.
The management of football brands : brand identity management illustrated by Borussia Dortmund
(2017)
Despite a growing awareness of the importance of the management of trademarks at the club level, there is a significant delay regarding the professional management of the brand within the Bundesliga clubs. So far, the principles of brand identity management were rarely applied, and most clubs have given up, despite a high economic potential, the ability to create competitive advances in economic terms, but also in sports terms. In this chapter, we will study the success factors of the management of brand identity of professional football clubs from the actual case of Borussia Dortmund.
The Football World Cup 2014
(2017)
International sporting events such as the Football World Cup constitute the ideal platform for companies to implement their target-group-specific marketing communications. Therefore, sporting event organisers sell exclusive marketing rights for their events to official sponsors. In return, these sponsors acquire exclusive opportunities to utilise the event for their own marketing purposes.
Ambush marketing is the method used by companies that do not actually hold marketing rights to an event, but still use marketing activities in diverse ways to establish a connection to it. The philosophy of ambush marketing consists of achieving conventional marketing objectives using unconventional methods. However, it creates the risk of fines or punishment, since companies that use these strategies even though they do not have sponsorship rights are violating legal requirements.
This case study introduces and analyses the marketing communications tools of sports sponsorship and ambush marketing.
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.
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.
In the lights of an increasing digitalization of companies, the sales process might experience changes in the usage and the influence of digital tools. In order to examine the status quo of German companies in this regard, a study was conducted between 235 participants. The results of this study will be outlined in the article at hand.
IT platforms as the foundation of digitized processes and products are vital in a digital economy. However, many companies’ platforms are liabilities, not strategic assets because of their complexity. Consequently, companies initiate IT complexity reduction programs. But these technology-centric programs at best provide temporary relief. Soon after, companies’ platforms become just as complex as before. Based on four case studies, we identify three non-technical drivers of platform complexity: (1) Lacking awareness of consequences business decisions have on platform complexity, (2) Lacking motivation to avoid platform complexity, (3) Lacking authority to protect platforms from complexity. We propose measures to address these drivers that can help achieve more sustainable impact on platform complexity: (1) Removing information asymmetries between those creating complexity and those dealing with complexity, (2) Redefining incentives to include long-term effects on platform complexity, (3) Redressing power imbalances between those who create complexity and those who have to manage it.
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.
In this paper we claim that a competitive analysis with new players entering a market requires a specific and systems-based analysis. System dynamics provides such an approach. We infer from our study that established premium automobile manufacturers could have identified a possible threat by a newcomer like Tesla earlier with using system dynamics. In particular, we postulate that a feedback view supports decision makers to better understand the significance of competitive information and perceive information faster and more reliably.
This paper models the political budget cycle with stochastic differential equations. The paper highlights the development of future volatility of the budget cycle. In fact, I confirm the proposition of a less volatile budget cycle in future. Moreover, I show that this trend is even amplified due to higher transparency. These findings are new evidence in the literature on electoral cycles. I calibrate a rigorous stochastic model on public deficit-to-GDP data for several countries from 1970 to 2012.
In an exploratory study about online communication of large and medium-sized B2B companies from the German state of Baden-Württemberg, their message content communicated via websites, and their websites' appeal for international prospects has been analyzed. It revealed many basic content items absent, making the site less attractive for further exploration, and difficult or international prospects to enter into a dialog, become leads, and possible customers. The subsequent survey elicited organizational backgrounds, available resources, and objectives for online communication. It could trace deficiencies back to a lack of understanding of the importance of digital communication for lead generation, and the customer journey in general, absence of a communication strategy, lack of urgency, and lack of resources to implement desired changes and additions to communication content.
Learning factories present a promising environment for education, training and research, especially in manufacturing related areas which are a main driver for wealth creation in any nation. While numerous learning factories have been built in industry and academia in the last decades, a comprehensive scientific overview of the topic is still missing. This paper intends to close this gap establishing the state of the art of learning factories. The motivations, historic background, and the didactic foundations of learning factories are outlined. Definitions of the term learning factory and the corresponding morphological model are provided. An overview of existing learning factory approaches in industry and academia is provided, showing the broad range of different applications and varying contents. The state of the art of learning factories curricula design and their use to enhance learning and research as well as potentials and limitations are presented. Conclusions and an outlook on further research priorities are offered.
Digitisation forms a part of Industrie 4.0 and is both threatening, but also providing an opportunity to transform business as we know it; and can make entire business models redundant. Although companies might realise the need to digitise, many are unsure of how to start this digital transformation. This paper addresses the problems and challenges faced in digitisation, and develops a model for initialising digital transformation in enterprises. The model is based on a continuous improvement cycle, and also includes triggers for innovative and digital thinking within the enterprise. The model was successfully validated in the German service sector.
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.