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Driven by digital transformation, manufacturing systems are heading towards autonomy. The implementation of autonomous elements in manufacturing systems is still a big challenge. Especially small and medium sized enterprises (SME) often lack experience to assess the degree of Autonomous Production. Therefore, a description model for the assessment of stages for Autonomous Production has been identified as a core element to support such a transformation process. In contrast to existing models, the developed SME-tailored model comprises different levels within a manufacturing system, from single manufacturing cells to the factory level. Furthermore, the model has been validated in several case studies.
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.
In recent years, machine learning algorithms have made a huge development in performance and applicability in industry and especially maintenance. Their application enables predictive maintenance and thus offers efficiency increases. However, a successful implementation of such solutions still requires high effort in data preparation to obtain the right information, interdisciplinarity in teams as well as a good communication to employees. Here, small and medium sized enterprises (SME) often lack in experience, competence and capacity. This paper presents a systematic and practice-oriented method for an implementation of machine learning solutions for predictive maintenance in SME, which has already been validated.
Customer orientation should be the core engine of every organisation while IT can be considered as the enabler to generate competitive advantages along customer processes in marketing, sales and service. Research shows that customer relationship management (CRM) enables organisations to perform better and experience indicates that organisations that focus on customer orientation are more successful. With marketplace organisations such as Amazon, Alibaba or Conrad shaping the future of customer centricity and information technology, German B2B organisations need to shift their value contribution from product-centric to customer-centric. While these organisations are currently attempting to implement CRM software and putting their customers more into focus, the question remains how organisations are approaching the implementation of CRM and whether these attempts are paying off in terms of business performance.
Das Value-Engineering in der Kundenkommunikation ist eine strukturierte Methode, Kommunikationsprozesse zwischen Unternehmen zu verbessern. Das Konzept greift bewährte Elemente der technischen Wertanalyse und der Gemeinkosten-Wertanalyse auf und überträgt sie auf die Kundenkommunikation. Der Ansatz bietet eine systematische Vorgehensweise, Kommunikationsprozesse zwischen Anbieter und Kunde zu durchleuchten und neu zu gestalten. Value-Engineering in der Kundenkommunikation schafft somit Wettbewerbsvorteile durch eine Optimierung der Kommunikation.
The article studies a novel approach of inflation modeling in economics. We utilize a stochastic differential equation (SDE) of the form dXt=aXtdt+bXtdBtH, where dBtH is a fractional Brownian motion in order to model inflationary dynamics. Standard economic models do not capture the stochastic nature of inflation in the Eurozone. Thus, we develop a new stochastic approach and take into consideration fractional Brownian motions as well as Lévy processes. The benefits of those stochastic processes are the modeling of interdependence and jumps, which is equally confirmed by empirical inflation data. The article defines and introduces the rules for stochastic and fractional processes and elucidates the stochastic simulation output.
Resilienz und Stabilität? Weichenstellungen im Banken- und Finanzsystem in der Corona-Pandemie
(2020)
Seit der globalen Finanzkrise 2008/2009 hat es keine vergleichbare Herausforderung wie die Corona-Krise für das Finanz- und Bankensystem mehr gegeben.
Schwache Profitabilität, ungelöste Regulierungs-herausforderungen und steigende Konkurrenz im Digitalbereich stellen die Banken vor weitere Heraus-forderungen.
Die Stabilität des Finanzsystems und der Zugang zu den Finanzmärkten war während der Pandemie nicht gefährdet. Durch gemeinsame Bemühungen und bes-sere Bankenkapitalisierung ist das Finanzsystem heute widerstandsfähiger als zu Zeiten der Finanzkrise.
Sofern die Zuschüsse und Kredite im „Next Genera-tion EU“-Fund zielgerichtet für Strukturreformen und Zukunftsinvestitionen eingesetzt werden, dürfte dies einen Vertrauens- und Wachstumsimpuls darstellen.
Weitere Verbesserungen der Finanzstabilität, wie erhöhte Eigenkapitalunterlegungen, Regulierung von Schattenbanken oder Reformen im Bereich der Finanzaufsicht, sind jedoch von Nöten.
Since the global financial crisis of 2008/2009, there has been no challenge to the financial and banking system comparable to that during the Corona crisis.
Weak profitability, unresolved regulatory challenges and increasing competition in the digital sector pose further challenges for banks.
The stability of the financial system and access to financial markets was not at risk during the pandemic. Through joint efforts and better bank capitalisation, the financial system is now more resilient than during the financial crisis.
Provided that grants and loans in the “next generation EU” fund are well targeted for structural reforms and investments in the future, this should boost confi-dence and growth.
However, further improvements in financial stability, such as increased capital requirements, regulation of shadow banks or reforms in financial supervision, are needed.
Our paper investigates the response of acquiring firms’ stock returns around the announcement date in cross-border mergers and acquisitions (M&A) between listed Chinese acquirers and German targets. We apply an event study methodology to examine the shareholder value effect based on a sample of M&A deals over the most recent period of 2012-2018. We apply a market model event study based on the argumentation of Brown and Warner (1985) and use short-term observation periods according to Andrade, Mitchell, and Stafford (2001) as well as Hackbarth and Morellec (2008). The results indicate that the announcement of M&A involving German targets results in a positive cumulative abnormal return of on average 2.18% for Chinese acquirers’ shareholders in a five-day symmetric event window. Furthermore, we found slight indications of possible information leakage prior to the formal announcement. Although it shows that the size of acquiring firms is not necessarily correlated with the positive abnormal returns in the short run, this study suggests that Chinese acquirers’ shareholders gain higher abnormal returns when the German targets are non-listed companies.
This paper studies the impact of financial liquidity on the macro-economy. We extend a classic macroeconomic modeland compute numerical simulations. The model confirms that persistently low inflation can occur despite a high degreeof financial liquidity due to a reallocation of cash, normal and risk-free bonds. In that regard, our model uncovers anexplanation of a flat Phillips curve. Overall, our approach contributes to a rather disregarded matter in macroeconomictheory.
This article studies the current debate on Coronabonds and the idea of European public debt in the aftermath of the Corona pandemic. According to the EU-Treaty economic and fiscal policy remains in the sovereignty of Member States. Therefore, joint European debt instruments are risky and trigger moral hazard and free-riding in the Eurozone. We exhibit that a mixture of the principle of liability and control impairs the present fiscal architecture and destabilizes the Eurozone. We recommend that Member States ought to utilize either the existing fiscal architecture available or establish a political union with full sovereignty in Europe. This policy conclusion is supported by the PSPP-judgement of the Federal Constitutional Court of Germany on 5 May 2020. This ruling initiated a lively debate about the future of the Eurozone and Europe in general.
Companies are becoming aware of the potential risks arising from sustainability aspects in supply chains. These risks can affect ecological, economic or social aspects. One important element in managing those risks is improved transparency in supply chains by means of digital transformation. Innovative technologies like blockchain technology can be used to enforce transparency. In this paper, we present a smart contract-based Supply Chain Control Solution to reduce risks. Technological capabilities of the solution will be compared to a similar technology approach and evaluated regarding their benefits and challenges within the framework of supply chain models. As a result, the proposed solution is suitable for the dynamic administration of complex supply chains.
Globalisation, shorter product life cycles, and increasing product varieties have led to complex supply chains. At the same time, there is a growing interest of customers and governments in having a greater transparency of brands, manufacturers, and producers throughout the supply chain. Due to the complex structure of collaborative manufacturing networks, the increase of supply chain transparency is a challenge for manufacturing companies. The blockchain technology offers an innovative solution to increase the transparency, security, authenticity, and auditability of products. However, there are still uncertainties when applying the blockchain technology to manufacturing scenarios and thus enable all stakeholders to trace back each component of an assembled product. This paper proposes a framework design to increase the transparency and auditability of products in collaborative manufacturing networks by adopting the blockchain technology. In this context, each component of a product is marked with a unique identification number generated by blockchain-based smart contracts. In this way, a transparent auditability of assembled products and their components can be achieved for all stakeholders, including the custome.
Wie kann die Digitalisierung in der Bauzulieferbranche erfolgreich gemeistert werden? Die Fülle und Komplexität der Fragen dazu lassen sich auf zwei zentrale Kernfragen reduzieren: Was sind die richtigen Inhalte und wesentlichen Werttreiber der Digitalisierung? Und wie muss zukünftig mit der steigenden Informationsflut, der rasant wachsenden Komplexität und der abnehmenden Planbarkeit umgegangen werden?
In diesem Beitrag wird ein Framework vorgestellt, das Bauzulieferern hilft, ihr digitales Zielbild mit seinen Werttreibern systematisch aus dem Kundennutzen abzuleiten. Das Framework berücksichtigt die Besonderheiten der Bauzulieferindustrie, kann aber mit leichten Anpassungen auch auf andere Branchen angewendet werden. Aufbauend auf dem Zielbild können Unternehmen definieren, welche technischen, personellen und organisatorischen Veränderungen für dessen Umsetzung erforderlich sind. Um flexibel mit den dynamischen Veränderungen in ihrem Ökosystem und kulturellen Herausforderungen umgehen zu können, werden zudem fünf Einflussgrößen identifiziert, die Unternehmen bei der Entwicklung der dafür benötigten Evolutionskompetenz berücksichtigen müssen.
By 2019, German-based Kärcher, "the world's leading provider of cleaning technology", hat turned its professional cleaning devices into digital offerings. The data generated by these connected cleaning devices formed a key ingredient in the company's ongoing strategic shift in its B2B business: Kärcher was transforming from a seller of cleaning devices to a provider of consulting services in order to help professional cleaning companies improve their cleaning processes.
The case illustrates how the company learned to generate value from digital offerings. And it demonstrates how a family-owned company transformed its organization in order to be able to more effectively develop and provide digital offerings, while adding roles and developing technology platforms, as well as changing structures and ways of working.
Fehler, Manipulation und Rationalität – wie das Reporting das Verhalten der Entscheider beeinflusst
(2020)
Der Zweck des Management Reporting besteht darin, den Informationsbedarf der Führungskräfte zu befriedigen. Sowohl Ersteller als auch Nutzer von Berichten handeln aber nur begrenzt rational. Berichte wirken deshalb nicht „zielgenau“, sondern lösen vielfältige nicht gewünschte Reaktionen bei den Beteiligten aus. In diesem Beitrag erfahren Sie, wie sich „der Faktor Mensch“ auf die Erstellung und Nutzung von Management Reports auswirkt und wie ein effektives und effizientes Management Reporting unerwünschte Wirkungen minimieren kann.
The approach of self-organized and autonomous controlled systems offers great potential to meet new requirements for the economical production of customized products with small batch sizes based on a distributed, flexible management of dynamics and complexity within the production and intralogistics system. To support the practical application of self-organization for intralogistics systems, a catalogue of criteria for the evaluation of the self-organization of flexible logistics systems has been developed and validated, which enables the classification of logistics systems as well as the identification and evaluation of corresponding potentials that can be achieved by increasing the degree of self-organization.
The planning and control of intralogistics systems in line with versatile production systems of smart factories requires new approaches and methods to cope with changing requirements within future factories. The planning of intralogistics can no longer follow a static, sequential approach as in the past since the planning assumptions are going to change in a high frequency. Reasons for these constant changes are amongst others external turbulences like rapidly changing market conditions, decreasing batch sizes down to customer-specific products with a batch size of one and on the other hand internal turbulences (like production and logistic resource breakdowns) affecting the production system. This paper gives an insight into research approaches and results how capabilities of intelligent logistical objects (intelligent bins, autonomous transport systems etc.) can be used to achieve a self-organized, cost and performance optimized intralogistics system with autonomously controlled process execution within versatile production environments. A first consistent method has been developed which has been validated and implemented within a scenario at the pilot factory Werk150 at the ESB Business School (Reutlingen University). Based on the incoming production orders, the method of the Extended Profitability Appraisal (EPA) covering the work system value to define the most effective work system for order fulfilment is applied. To derive the appropriate intralogistics processes, an autonomous control method involving principles of decentralized and target-oriented decision-making (e.g. intelligent bins are interacting with autonomously controlled transport systems to fulfil material orders of assembly workstations) has been developed and applied to achieve a target-optimized process execution. The results of the first stage research using predefined material sources and sinks described in this paper is going to set the basis for the further development of a self-organized and autonomously controlled method for intralogistics systems considering dynamic source and sink relations. By allowing dynamic shifts of production orders in the sense of dynamic source and sink relations the cost and performance aims of the intralogistics system can be directly aligned with the aims of the entire versatile production system in the sense of self-organized and autonomously controlled systems.
Die pharmazeutische Verpackungsindustrie ist durch umfangreiche Regularien geprägt und daher in der Innovationsdynamik etwas eingeschränkt. In einem sechsmonatigen Projekt zur Entwicklung von Zukunftsszenarien für die Pharmaverpackung wurde aufgezeigt, dass zwar neue Technologien, wie E-Labels oder Kindersicherungen, die Marktreife erreicht haben oder in Kürze erreichen werden, neue Anforderungen in absehbarer Zukunft aber weiteren Entwicklungsbedarf erfordern. Die pharmazeutische Verpackungsindustrie muss sich zusammen mit ihren Kunden und Technologielieferanten enger und intensiver austauschen, um die nächste Verpackungsgeneration, Smart Packaging 2.0, auf den Weg zu bringen.
Mangels durchgängiger Datenstandards für Planungssysteme der Digitalen Fabrik müssen systemspezifische Datenaustauschlösungen implementiert werden. Zur Unterstützung der Planung ist ein durchgängiger Fabrikplanungsprozess mit integrierter Routenplanung sowohl prozess- als auch systemtechnisch erforderlich. Dafür werden beispielhaft ein Fabrik- und ein Routenplanungssystem auf ihre Kompatibilität untersucht, erforderliche Anforderungen abgeleitet und eine Datenaustausch-möglichkeit für den Anwender aufgezeigt.
To remain relevant and mitigate disruption, traditional companies have to engage in multiple fast-paced experiments in digital offerings—revenue-generating solutions to what customers want and are willing to pay for, inspired by what is possible with digital technologies. After launching several digital offering initiatives, reinsurance giant Munich Re noticed that many experienced similar challenges. This case describes how Munich Re addressed these common challenges by building a foundation to help its digital offerings succeed. The foundation provided prioritized and staged funding; dedicated, hands-on expertise; and a digital platform of shared services. By 2020, this foundation was helping to support over seventy initiatives, including several that were in the market generating new sources of revenue for the company by enabling its clients—insurance companies—to better service their own customers.
Learning factories can complement each other by training different competencies in the field of digitalisation and Industry 4.0. They depict diverse sections of the product development process and focus on various technologies. Within the framework of the International Association of Learning Factories (IALF), the operating organisations of learning factories exchange information on research, training and education. One of the aims is to develop joint projects. The article presents different concepts of cooperation between learning factories while focusing on the improvement of the development of learners competencies e.g. with a broader range of topics. A concept of a joint course between the learning factories in Bochum, Reutlingen and Darmstadt is explained in detail. The three learning factories will be examined with regard to their similarities and differences. The joint course focuses on the target group of students and the topic of digitalisation in the development and production of products. The course and its contents are explained in detail. The new learning approach is evaluated on the basis of feedback from the participants. Finally, challenges resulting from the cooperation between learning factories at different locations and with different operating models will be discussed.
Rapidly changing market conditions and global competition are leading to an increasing complexity of logistics systems and require innovative approaches with respect to the organisation and control of these systems. In scientific research, concepts of autonomously controlled logistics systems show a promising approach to meet the increasing requirements for flexible and efficient order processing. In this context, this work aims to introduce a system that is able to adjust order processing dynamically, and optimise intralogistics transportation regarding various generic intralogistics target criteria. The logistics system under consideration consists of various means of transport for autonomous decision-making and fulfilment of transport orders with defined source-sink relationships. The context of this work is set by introducing the Learning Factory Werk 150 with its existing hardware and software infrastructure and its defined target figures to measure the performance of the system. Specifically, the important target figures cost and performance are considered for the transportation system. The core idea of the system’s logic is to solve the problem of order allocation to specific means of transport by linking a Genetic Algorithm with a Multi-Agent System. The implementation of the developed system is described in an application scenario at the learning factory.
This article adopts a qualitative comparative causal mapping approach to extend knowledge of the interrelated barriers to public entrepreneurship and the outcomes of such entrepreneurship. The results highlight marked differences between the sales segment and the distribution grid segment of German public enterprises that should prompt a refined perspective on public entrepreneurship. Notably, besides intra-organizational barriers and those interfering from the external environment, results also show that a public enterprise’s supervisory board can hinder its progress. This study thus contributes to recent discussion on governance and entrepreneurship by revealing a feature that could distinguish public from private enterprises.
Das Internet der Dinge verändert die Customer-Experience nachhaltig, beispielsweise indem neue Dienste die Konsumenten kognitiv entlasten. Das Management sollte die neuen Interaktionsmöglichkeiten mit den Konsumenten nutzen und leistungsfähige Benutzerschnittstellen entwickeln sowie analytisches Know-how und Partnerschaften aufbauen.
Planning of available resources considering ergonomics under deterministic highly variable demand
(2020)
In this paper, a method for hybrid short- to long-term planning of available resources for operations is presented, which is based on a known or deterministically forecasted but highly variable demand. The method considers quantitative measures such as the performance and the availability of resources, ergonomically relevant KPI and ultimately process costs in order to serve as a pragmatic planning tool for operations managers in SMEs. Specifically, the method enables exploiting the ergonomic advantages of available flexible automation technology (e.g. AGVs or picking robots), while assuring that these do not represent a capacity bottleneck. After presenting the method along with the necessary assumptions, mainly concerning the availability of data for the calculations, we report a case study that quantifies the impact of throughput variability on the selection of different process alternatives, where different teams of resources are used.
Projektmanagement
(2020)
Projektmanagement ist ein Werkzeug um singuläre Aufgaben interdisziplinär und unternehmensübergreifend strukturiert zu bearbeiten, die einmalig und extrem bedeutsam für das Unternehmen sind sowie nicht einfach in der bestehenden Linienorganisation bearbeitet werden können. Unter Projektmanagement versteht man ein Konzept für die Leitung eines komplexen Vorhabens und die Institution, die dieses Vorhaben leitet.
Personalmanagement
(2020)
Auch wenn der Wert in keiner Bilanz auftaucht: das Humankapital entscheidet über den Unternehmenserfolg. Während Kapital im Überfluss vorhanden ist, ist das Personal zunehmend der Engpassfaktor. Wurde bis in die 1980er-Jahre der Mensch als Produktionsfaktor und die Personalabteilung als seine Verwaltungsinstanz gesehen, so ist die Personalarbeit heute ein integratives Element des Managementprozesses und die Personalabteilung aktiver Teil des Managementteams (Scholz 2014c). Damit verbunden ist der begriffliche Wandel von Personalwirtschaft bzw. Personalverwaltung hin zum Personalmanagement bzw. Human Ressource Management (HRM). Die Begriffe signalisieren eine stärker strategisch ausgerichtete Auseinandersetzung mit allen Fragen, die den Einsatz von Personal und die Verknüpfung der Personal- mit der Unternehmensstrategie zum Gegenstand haben.
Wichtige Aufgaben der Personalarbeit sind Personalplanung, Personalbeschaffung, Personalentwicklung, Personaleinsatz, Personalkostenmanagement, Personalführung. Diese werden in der Regel von unterschiedlichen Stellen wahrgenommen – neben der Personalabteilung spielen dabei auch die direkte Führungskraft sowie die Unternehmensleitung eine wichtige Rolle.
Die Blockchain-Technologie stellt einen vielversprechenden Ansatz für Transparenz und Resilienz in Lieferketten dar. In diesem Beitrag wird untersucht, welche Blockchain-Lösungen derzeit für die Supply-Chain zur Verfügung stehen, und die bislang umgesetzten Projekte in diesem Bereich analysiert. Die meisten der realisierten Projekte beziehen sich auf einfache Produkte und Supply-Chain-Strukturen. Der Grund ist, dass bislang Lösungen zur ganzheitlichen Abbildung von komplexen Produkten in dynamischen Supply-Chain-Strukturen gefehlt haben. Doch jetzt stehen erste vielversprechende Ansätze zur Verfügung.
In modernen Arbeitswelten werden zunehmend arbeitsplatzbezogene digitale Technologien eingesetzt. Wenngleich dies zahlreiche Chancen bietet, kann es auch negative Folgen für die Gesundheit von Mitarbeitenden haben. Diese Herausforderungen werden durch die aktuelle Corona-Krise für viele Unternehmen noch verschärft. Stress, der direkt oder indirekt durch den Einsatz von Technologien entsteht, wird als «Technostress» bezeichnet. Wichtige Hebel zu dessen Vermeidung umfassen die Gestaltung von Technologien sowie die Berücksichtigung verschiedener individueller und situativer Faktoren im Rahmen technologischer Veränderungsprozesse.
Durch die Digitalisierung der Arbeitswelt und die New Work-Bewegung verändert sich die Art und Weise, wie wir zu-ammenarbeiten. Entsprechend wird derzeit viel über Führung gesprochen – möglicherweise zu viel. Die zentrale These des Beitrags ist, dass wir besser verstehen können, wie Führungskräften und Mitarbeitende zukunftsorientiert zusam-menarbeiten, wenn wir weniger direkt über Führung reden, sondern zunächst von der Situation aus denken, in der sich Akteure koordinieren. Führung wird dann nicht isoliert, sondern zusammen mit verschiedenen Koordinationsformen betrachtet (wie Autonomie, Selbstorganisation, Management und eben Führung). Das kann in der Praxis helfen, den Wandel der Zusammenarbeit – inklusive der neuen Art von Führung – reflektierter und zielorientierter zu gestalten.
In digital transformierten Arbeitswelten organisieren die Mitarbeitenden ihre Arbeitszeit, ihren Arbeitsort und die Art und Weise, wie sie Aufgaben erledigen, in größerem Umfang selbst. Unternehmen, die im Zuge des Transformationsprozesses den Grad der Selbstorganisation erhöhen möchten, stehen vor einer komplexen Herausforderung. Selbstorganisation betrifft zahlreiche Elemente der Organisation wie Arbeitsaufgaben und Rollen, Führung, Regeln und Kompetenzen. Auf Basis eines empirisch entwickelten Bezugsrahmens, dem Digitalisierungsatlas, können die verschiedenen Elemente integrativ betrachtet und die Wechselwirkungen zwischen den Dimensionen in den Blick genommen werden. Wird Selbstorganisation ausgehend von der Autonomie der Beschäftigten, Arbeitsaufgaben und die eigene Rolle in der Organisation selbst zu beeinflussen, in den Blick genommen, sind insbesondere die Wechselwirkungen zwischen den organisationalen Dimensionen sowie Führung relevant. Die Spannungen zwischen diesen Dimensionen werden näher fokussiert. Insgesamt zeigt der Beitrag auf, dass Selbstorganisation nicht als ein unabhängiges Phänomen verstanden werden kann, sondern stets in Wechselwirkung mit anderen Dimensionen steht.
In an increasingly competitive environment, suppliers are now seen as an important source of innovation. Long term partnerships enable companies to access the knowledge of suppliers to optimize their business. "Procurement 4.0" is one of the concepts that come to the fore when talking about digitalization of business processes. The major aim of this research is to discuss a conceptual model of "Procurement 4.0" and its potential to rethink the management of supplier relationships, which will be one of the main future tasks of procurement. The paper is based on a factual-analytical research approach that serves to continuously specify and supplement the elements of the frame of reference: Two challenging concepts, "Procurement 4.0" and Supplier Relationship Management, are merged to contribute to the fact that purchasing is indispensable as an "interface" within a global supply chain to reap the benefits of digitization. The factors that prove to be obstacles to digital supplier relationship management along the digital supplier journey - e.g. lack of guidelines, approaches or tools and a lack of understanding of the importance of long-term relationships - are reflected within the identified technologies of digital transformation. A comprehensive analysis of the given situation within digital supplier relationship management in Germany is provided. The most important digital supplier touchpoints are discussed in order to develop a traditional supplier relationship towards a digital relationship management. Thus, this paper succeeds in illustrating how the innovative concept of a supplier journey can be implemented in practice to counteract the future, entrepreneurial challenges.
Monday is unique for its reputation as a “bad” day—one that is characterized by pessimism and reluctance as noted by Rystrom and Benson (Financ Anal J 45(5):75–78, 1989). But the extent to which this applies to stock markets is still in dispute. While early evidence points to a Monday effect leading to negative returns, recent studies tend to suggest its disappearance or reversal.As a replication study, this paper searches for new evidence of this effect in the German stock market.We use data on the German blue-chip index DAX between 2000 and 2017 to test for the presence of a Monday effect by applying regression and controlling with GARCH analysis. The observation period provides a detailed insight into different market phases in one of the most liquid and information efficient international stock markets. Our results contribute no evidence to the persistent existence of a Monday effect on the German stock market. Our analysis is robust against the background of different market sentiments before, during and after the financial crisis.
The variety and interdependencies of enterprise systems that digitize large organizations’ processes have grown significantly, resulting in complex enterprise systems landscapes. Avoiding such complexity requires addressing the IT-business engagement gap between (inadvertent) producers of complexity in the business and those in IT who have to manage it. We identify mechanisms for tackling three components of this gap: 1) bridging the awareness gap through information sharing, 2) narrowing the incentive gap through shared goals, and 3) closing the authority gap by evening out power differentials through empowerment.
Immer deutlicher zeigt sich, dass die Modeindustrie nicht nur vor enormen Herausforderungen steht, sondern dass hiermit auch enorme Umbrüche einhergehen. Vor diesem Hintergrund interessiert uns nicht nur die Frage, was diese Herausforderungen sind, sondern auch, wie sie die Modeindustrie verändern. Unter dem Titel New fashion business wollen wir in diesem Band verstehen, welche Veränderungen bedeutsam sind und wie Unternehmen bereits darauf reagieren bzw. wie sie reagieren könnten.
Unternehmen, die restriktiv keinerlei Adaptionen innerhalb der Strukturen vornehmen, können angesichts der verschärften Wettbewerbssituation im tagtäglichen Business nicht bestehen. Warum Agilität ein geeignetes Tool für die Umsetzung einer innovativen Anpassung beschreibt und in zukunftsorientierten Unternehmen als Katalysator agiert, soll in diesem Artikel näher erläutert werden.
In diesem Artikel soll die Frage behandelt werden, wie sich die Modebranche in Deutschland in den nächsten zehn Jahren entwickeln könnte und welchen Herausforderungen sie sich stellen muss. Zur Beantwortung dieser Frage wird eine Szenario-Analyse durchgeführt. Dabei werden verschiedene Zukunftsszenarien erstellt, die potentielle Entwicklungen innerhalb der Modebranche aufzeigen. Die Szenarien basieren auf einer vorangestellten Trend- und Unsicherheitsanalyse und lassen unterschiedlichste, teilweise auch zunächst sehr unrealistisch erscheinende Entwicklungen zu und beschreiben einen möglichen Zukunftszustand und den Weg dorthin.
„The fashion industry fundamentally operates in an unsustainable way and cannot carry on business as usual.“
Diese Aussage der Organisation Fashion Revolution entstand nach dem Fabrikeinsturz am 24. April 2013 in Rana Plaza, Bangladesch. Dabei kamen 1.130 Menschen ums Leben und 2.500 weitere trugen Verletzungen davon (Fashion Revolution 2015, S. 4). Das Unglück veranschaulichte – vor allem für Verbraucher – zum ersten Mal die grundlegenden Probleme der Modeindustrie, die schon lange vorherrschten. Es scheint eine Art Eskalation eines immer schneller agierenden Systems zu sein und kann als Indikator für die daraus resultierenden Probleme, wie in diesem Fall unsichere Arbeitsbedingungen oder unfaire Vergütung, verstanden werden.
Der Erfolg des Resales in der Modebranche wird vor allem durch das starke Wachstum verdeutlicht, denn im Vergleich zum Retail wuchs dieser im vergangenen Jahr 24 Mal schneller. Eine aktuell aufstrebende Form des Verkaufs, Resale, bezeichnet den Prozess, den Produkte durchlaufen, wenn diese ein zweites Mal verkauft, das heißt aus zweiter Hand wiederverkauft werden. Retail hingegen beschreibt den traditionellen Verkauf von Produkten über den (stationären) Einzelhandel. Es kehren also immer mehr Produkte, welche bereits im Besitz eines anderen gewesen sind, in den Handel zurück und stehen erneut zum Verkauf bereit. Womit diese Aufwärtsentwicklung in der Modebranche ermittelt werden kann und inwiefern der Resale auf den Retail trifft, wird im Folgenden beschrieben.
Rising consumption due to a growing world population and increasing prosperity, combined with a linear economic system have led to a sharp increase in garbage collection, general pollution of the environment and the threat of resource scarcity. At the same time, the perception of environmental protection becomes more sensitive as the consequences of neglecting sustainable business and eco-efficiency become more visible. The Circular Economy (CE) could reduce waste production and is able to decouple economic growth from resource consumption, but most of the products currently in use are not designed for the reuse-forms of the CE. In addition, the decision-making process of the End of-Usage (EoU) products regarding the following steps has further weaknesses in terms of economic attractiveness for the participants, which leads to low return rates and thus the disposal is often the only alternative.
This paper proposes a model of the decision-making process, which uses machine learning. For this purpose, a Machine Learning (ML) classification is created, by applying the waterfall model. An artificial neural network (ANN) uses information about the model, use phase and the obvious symptoms of the product to predict the condition of individual components. The resulting information can be used in a downstream economic and ecological evaluation to assess the possible next steps. To test this process comprehensive training data is simulated to train the ANN. The decentralized implementation, cost savings and the possibility of an incentive system for the return of an end-of-usage product could lead to increased return rates. Since electronic devices in particular are attractive for the CE, laptops are the reference object of this work. However, the obtained findings are easily applicable to other electronic devices.
Background. We describe and provide an initial evaluation of the Climate Action Simulation, a simulation-based role playing game that enables participants to learn for themselves about the response of the climate-energy system to potential policies and actions. Participants gain an understanding of the scale and urgency of climate action, the impact of different policies and actions, and the dynamics and interactions of different policy choices.
Intervention. The Climate Action Simulation combines an interactive computer model, En-ROADS, with a role play in which participants make decisions about energy and climate policy. They learn about the dynamics of the climate and energy systems as they discover how En-ROADS responds to their own climate-energy decisions.
Methods. We evaluated learning outcomes from the Climate Action Simulation using pre- and post-simulation surveys as well as a focus group.
Results. Analysis of survey results showed that the Climate Action Simulation increases participants’ knowledge about the scale of emissions reductions and policies and actions needed to address climate change. Their personal and emotional engagement with climate change also grew. Focus group participants were overwhelmingly positive about the Climate Action Simulation, saying it left them feeling empowered to make a positive difference in addressing the climate challenge.
This study investigates empirically the development of working capital management and its impact on profitability and shareholder value in Germany. We analyse panel data of 115 firms listed on the German Prime Standard, covering the period from 2011 to 2017. The results provide evidence that efficient working capital management, indicated by a shorter cash conversion cycle, deteriorated over time, but that a shorter cash conversion has a positive impact on profitability and shareholder value. The findings highlight the need that managers should give greater priority to working capital optimization, even in a low-interest environment. The paper contributes to the literature by advancing this research area in Germany, and it is the first study investigating shareholder relationship with working capital management and all its determinants.
The supply of customer-specific products is leading to the increasing technical complexity of machines and plants in the manufacturing process. In order to ensure the availability of the machines and plants, maintenance is considered as an essential key. The application of cyber-physical systems enables the complexity to be mastered by improving the availability of information, implementing predictive maintenance strategies and the provision of all relevant information in real-time. The present research project deals with the development of a cost-effective and retrofittable smart maintenance system for the application of ultraviolet (UV) lamps. UV lamps are used in a variety of applications such as curing of materials and water disinfection, where UV lamps are still used instead of UV LED due to their higher effectiveness. The smart maintenance system enables continuous condition monitoring of the UV lamp through the integration of sensors. The data obtained are compared with data from existing lifetime models of UV lamps to provide information about the remaining useful lifetime of the UV lamp. This ensures needs-based maintenance measures and more efficient use of UV lamps. Furthermore, it is important to have accurate information on the remaining useful lifetime of a UV lamp, as the unplanned breakdown of a UV lamp can have far-reaching consequences. The key element is the functional model of the envisioned cyber-physical system, describing the dependencies between the sensors and actuator, the condition monitoring system as well as the IoT platform. Based on the requirements developed and the functional model, the necessary hardware and software are selected. Finally, the system is developed and retrofitted to a simulated curing process of a 3D printer to validate its functional capability. The developed system leads to improved information availability of the condition of UV lamps, predictive maintenance measures and context-related provision of information.
The use of learning factories for education in maintenance concepts is limited, despite the important role maintenance plays in the effective operation of organizational assets. A training programme in a learning factory environment is presented where a combination of gamification, classroom training and learning factory applications is used to introduce students to the concepts of maintenance plan development, asset failure characteristics and the costs associated with maintenance decision-making. The programme included a practical task to develop a maintenance plan for different advanced manufacturing machines in a learning factory setting. The programme stretched over a four-day period and demonstrated how learning factories can be effectively utilized to teach management related concepts in an interdisciplinary team context, where participants had no, or very limited, previous exposure to these concepts.
Customer foresight is a relatively new research field. We introduce the customer foresight territory by discussing its localization between customer research and foresight research. For this purpose, we look at a variety of methods that help to understand customers and future realities. On this basis we provide an overview of customer foresight methods and outline an ideal-typical research journey.
Airports largely outgrew their sole purpose of simply being travel hubs and by connecting millions of passengers to their destinations each year on an international scale, they have become increasingly interesting for business and related marketing opportunities. In fact, passengers are easily segmented and can be reached effectively throughout specific airport areas, making some areas more suitable for advertising than others. Emotional states, roaming time and the freedom to move vastly, influence how much information passengers are able to absorb from their direct surroundings. Finally our research shows that some areas are more suitable than others. Therefore a careful selection of airport locations for communication will be key to secure the impact and improve the effectiveness of communication measures. With these insights, advertisers can deliberately choose the areas that are most effective for displaying their ads.
Whether diversity enhances or impedes team creativity remains an issue of scholarly debate. Explanations of this ambiguity often lie in how diversity is both operationalized and measured. Eschewing the popular approach of using differences in objective criteria to signal diversity, a deep-level approach that focuses on differences in personal values is taken in this study. Value diversity is measured in the two forms of variety and separation and their associations with team creativity are explored. The investigation is augmented by considering the mediating role of team communication in these associations. The analysis was conducted on a sample of 98 teams, using both subjective and objective measures. The findings reveal that when considering value diversity in terms of variety, there is a positive association between diversity and team creativity. However, when the separation dimension of value diversity is considered, a negative association between diversity and team creativity is identified. Complex pathways pertaining to the role of communication within these relationships are also uncovered. In moving beyond rudimentary categories and measurement of diversity, this study further elucidates the complexity of the diversity–creativity relationship. Conclusions are drawn and implications for further research and managerial practice are derived.