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Since 2000, Indian special economic zones were established with the intention to attract foreign direct investment. We present a first empirical assessment with new data from 1980 to 2010 and evaluate the outcome after 10 years. In general, our empirical results confirm that special economic zones attract FDI statistical significantly. Another finding of the study is that open economies with stable inflation attract more FDI than small and closed economies.
India’s growth: perspectives for Indo-European business “Skilled labour in India: bridging the gap”
(2011)
The following paper is based on a survey conducted for ESB Business School and will show how German companies perceive India’s labour market. Besides existing geographical and sectoral gaps we will reveal gaps in the required qualification profile. Thinking merely of hard qualification factors like education levels, skills etc., though, would be short-sighted. Often cited intercultural qualifications also play an important role.
What can be done? What should be done to bridge these gaps? These will be the leading questions of this chapter. We will discuss some solutions – not forgetting that the problems German companies face are complex and knowing there is no ideal way. However, we will see that some of the most urgent problems can be solved or reduced by Indo-European or Indo-German co operation models in the field of vocational training and institutions of higher education.
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.
Global acting rating agencies were held responsible for the latest financial market crisis. False estimations in rating, non-transparent methods, processes and systems as well as a lack of qualification of rating analysts have been points of criticism. The level of the tightened regulation of the agencies in the USA and in Europe is pointed out in this article. All relevant institutions and norms as well as the international and national standards from the German point of view are presented and exhaustively analyzed. In doing so it is illustrated, that in this olio-political market one can definitely speak about protection with regard to the admission and accreditation of the agencies.
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 article focuses on potential economic implications of a free trade agreement (FTA) between the European Union (EU) and the Indian Federation. The economic implications are evaluated by estimating an Extended gravity model for all existing FTAs with the Indian Federation. Moreover, we control for the trade contribution of EU member countries in our econometric model during the period from 1990 until 2008. The results show a significant increase in trade, if there is a free trade agreement between India and another country. Interestingly, we find that India has the largest positive impact from FTAs with more advanced economies. Thus, we reaffirm the potential benefits of trade relationships between the EU and India.
This paper provides a quantitative approach to measuring the effectiveness of ambush marketing by using Google data. To our knowledge, it is one of the first studies that develop an empirical approach that directly measures the attention effect of ambush marketing in sports. The new data consists of 14 ambushers (treatment group) and 26 official sponsors (control group) and covers the time period of 2004 to 2012. These firms conducted marketing activities during the past football World Cups and European Championships. The innovation in our paper is the measurement method of attention by means of Google. The results are as follows: First ambush marketing increases product attention significantly. Second the product awareness of ambushers is greater or the same to that of official sponsors. Finally, we demonstrate that ambush marketing has positive impacts on the company's performance. Overall, we conclude that Google provide new insights for the analysis of ambush marketing.
Strategy to adjust people’s performance capabilities to new requirements and grantee employability in the world of work. Good examples for this are the current changes in the logistics environment. Regularly, new services and processes close to production were taken into the portfolio of logistics enterprises, so the daily Tasks are changing continuously for the skilled works.
LOPEC aims in developing and offering special-tailored training for Lean Logistics and required basic skills for skilled workers on shopfloor level. Needed know-how for today’s challenges in logistics will be transferred. Another aspect of LOPEC is the development and use of a personal excellence self-assessment that allows a Person to assess and thus improve his/her own level of maturity in employability skills. Thus, LOPEC is aiming at People ehancement as entry ticket to lifelong continuous learning by increasing the maturity level of personal logistic excellence. A common European view for “Logistics personal excellence” for skilled workers will ensure that the final product is an open product, using international, pan European validated standards. As results LOPEC will provide training modules for post-secondary education in the area of Lean Logistics, required basics skills and offers transparency of personal excellence with a personal self-assessment Software solution, regarding the personal maturity Level of hard and soft skills at any time. It can be used as an innovative tool for monitoring personal lifelong learning routes as well as within companies as a strategic tool within Human Resource Development.
This paper studies the impact of governmental transparency on the political business cycle. The literature on electoral cycles finds evidence that cycles depend on the stage of the economy. However, we show a reliance of the cycle on transparency. We use data for G7 countries and compare it with less developed OECD countries. Our theory states that transparency reduces the political cycles due to peer pressure and by voting outs. We confirm the theory with an econometric assessment of 34 countries from 1970 to 2012. We discover smaller cycles in countries with a higher transparency, especially in G7-countries.
The article discusses how drama can support language learning at the university level and how drama can also support learners in acquiring professional competences. In the first part, the article will briefly outline forms of drama in language teaching. It will discuss its benefits, such as putting language in context, making learning holistic and memorable, improving learners’ social and personal competences. The second part describes aspects of drama beneficial for language learning in a professional context and gives a concrete teaching example: theatre projects with a focus on business English.
This paper examines the relationship of asset Price determination via Google data. To capture this relation, I create a model and estimate several time series’ regressions. I use weekly data from 2004 to 2010 from 30 international banks. To my knowledge this is the first study which differentiates between Google’s search volume and Google’s search clicks. I show that asset prices are positively related to the rate of change in Google’s search volume, trading volume and the level of Google search clicks. Secondly, I demonstrate that the absolute level of Google’s search volume and Google’s search clicks
behave differently regarding the asset price dynamics. Google’s search volume, which measures long-run searches, is negatively related while Google’s search clicks have a positive relationship to asset prices. Hence, Google’s data offer new insights on both measuring attention and pricing financial assets.
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.
Applied mathematical theory for monetary-fiscal interaction in a supranational monetary union
(2014)
I utilize a differentiable dynamical system á la Lotka-Voletrra and explain monetary and fiscal interaction in a supranational monetary union. The paper demonstrates an applied mathematical approach that provides useful insights about the interaction mechanisms in theoretical economics in general and a monetary union in particular. I find that a common central bank is necessary but not sufficient to tackle the new interaction problems in a supranational monetary union, such as the free-riding behaviour of fiscal policies. Moreover, I show that upranational institutions, rules or laws are essential to mitigate violations of decentralized fiscal policies.
As businesses grow and diversify, they almost inevitably make their range of offerings more complex. Complexity brings costs - but smart use of today’s digital technologies can help companies finesse the trade-offs between complexity´s costs and benefits. Imagine a retailer that has 10 million products and hundreds of variations for each product yet keeps it simple for customers to make a choice. Impossible? Not today. Amazon.com Inc. creates value from its product complexity with simple customer-facing processes, such as search, ratings, reviews and suggestions. Now imagine a diversified high-tech company with locally differentiated products in 60 categories in more than 100 different countries. A mess of internal processes and systems? Not necessarily. Royal Philips creates value by providing locally relevant products to different markets, while keeping the vast majority of its processes standardized on digitized platforms. Until now, managing business complexity has usually involved a trade-off. This trade-off forced companies to compromise between creating value from complexity and benefiting from the efficiencies of simplicity. As businesses entered new geographies, developed new products, opened new channels and added more granular customer segments, they made their offerings more complex with the intention of adding value. But, as an almost inevitable consequence, companies also made it more difficult for customers to interact with the company and more unwieldy for employees to get things done. However, with today´s increased digitization, companies can finesse this trade-off; they can increase valueadding complexity in their product offerings while keeping processes for customers and employees simple. Our research suggests that companies operating in this "complexity sweet spot" outperform their competitors on profitability. In this article, we explain how companies achieve this breakthrough in the digital world.
Ambush marketing in sports
(2014)
A sports event organizer sells exclusive marketing rights for his event to official sponsors, who, in return, acquire exclusive options to utilize the event for their own advertising purposes. Ambush marketing is the practice by companies of using their own marketing, particularly marketing communications activities, to create an impression of an association with the event to the event audience, although the companies in question have no legal or only underprivileged or non-exclusive marketing rights for this event sponsored by third parties. So, the objective of ambush marketing is to benefit from the success of sports sponsorship without having the duties of an official sponsor.
It is fine line between creative marketing communication and infringing on sponsorship rights. From the perspective of the event organizers and sports sponsors ambush marketing represents an understandable threat, while from the perspective of the ambushers it offers the opportunity to reach the target audience in an attractive environment and at affordable cost. The paper defines and structures the phenomenon of ambush marketing and analyses the impacts of ambush marketing in sports. The results of an empirical study on the effects of ambush marketing in the frame of the FIFA Soccer World cup are presented and discussed.
This article briefly describes reasons for dramatising poetry in the language classroom and then gives practical descriptions of how poetry can be taken ‘from page to stage’. It focusses on the aspects content, form and context of poems and how they can be dramatised. A special focus is on working with Shakespearean sonnets but the ideas can be transferred to other types of poetry as well.
Success in human resource management (HRM) depends on the question of whether applied practices of HRM meet specific contingency factors and are appropriately configured. Using this argument, the present article examines HRM in professional service firms (PSFs) in pursuit of three objectives. First, we introduce a conceptual framework that illustrates how the constitutive characteristics of PSFs, as contingency factors, influence HRM practices and research. Second, based on this framework, we summarize key findings of research on HRM in PSFs and open up potential avenues for further research. Third, we reflect on the argument that HRM in PSFs can contribute to an understanding of HRM practices in other organizational settings, leading to the question of the mutual transferability of HRM practices. Aside from these three primary objectives, we also introduce the contents of the special issue.
By integrating its previously separate insurance, banking and investment products around customer life events (e.g., buying a car, getting married or buying a house), USAA is able to deliver a superior customer experience. To achieve the integration, USAA had to re-architect its business by redesigning structures, roles, incentives, processes and IT systems. The USAA case provides four principles for architecting a business to provide superior customer experience, which will become increasingly important in the digital economy.
This paper provides new evidence on the formation and anchoring of inflation expectations. I conduct a game experiment and analyze the adjustment as well as the impact of credible targets on expectations. In addition, I evaluate the idiosyncratic determinants on the formation of expectations. The analysis reveals six results: First, I find evidence that long-term inflation expectations are firmly anchored to a credible target. Second, a temporary deviation due to unexpected monetary policy might trigger a decline in credibility, and third a de-anchoring of expectations due to uncertainty. Fourth, I find that people change their expectations little if a credible target exists. Fifth, expectations exhibit a large degree of time-variance only in environments without a target. Sixth, the dynamic adjustment to an ‘incomplete’ equilibrium, which is theoretically unstable, is nevertheless rapid and persistent in case of credible targets. All in all, I demonstrate a unique game setup with contributions to both experimental and monetary economics.
A major lesson of the recent financial crisis is that money market freezes have major macroeconomic implications. This paper develops a tractable model in which we analyze the microeconomic and macroeconomic implications of a systemic banking crisis. In particular, we consider how the systemic crisis affects the optimal allocation of funding for businesses. We show that a central bank should reduce the interest rate to manage a systemic shock and hence smooth the macroeconomic consequences. Moreover, the analysis offers insight on the rational of bank behavior and the role of markets in a systemic crisis. We find that the failure to adopt the optimal policy can lead to economic fragility.
Creating an image transfer through event marketing : principles, requirements and consequences
(2015)
Event marketing is primarily implemented to emotionalize the target group. So, the most important objective of marketing events is to improve the image of a brand or a company. In this paper an image transfer model for event marketing is introduced. As a basis, the principles of event marketing are presented. After that, the state of the art in attitude and image research is discussed. Based on current research, an image transfer model for event marketing is developed and the conditions required for an image transfer to take place from an event to a brand or a company are explained. Depending on which conditions are met, there are different consequences with regard to the image transfer from the event to the brand or company that are structured and characterized in detail.
Few unfocused factories outperform competitors, but Focus is elusive because the environment is constantly evolving and this requires changes to a factory’s key tasks. So how can focus be achieved and sustained? We present insights derived from an historical analysis of the German Hewlett-Packard server plant which went through a series of Focus changes over the years. Using this example, we provide clues for the right timing of Focus changes and discuss critical structural and infrastructural changes required during the Focus transitions, as well as cross-functional coordination and leadership challenges. Our assertion is that production operations constitute a system that can adapt to disruptive Change by using the levers of manufacturing policies to stay focused on a limited but absolutely essential task which creates a strategic advantage.
Marketing channels are among the most important elements of any value chain. This is because the bulk of a nation´s manufacturing output flows through them. The intermediaries (e.g., distributors, wholesalers, retailers) constituting marketing channels perform specific distribution functions,such as transportation, storage, sales, financing, and relationship building, better than most manufacturers. Over his distinguished career, Louis P. Bucklin investigated many questions about the structuring and functioning of marketing channels using conceptual, empirical, and microeconomics model-based methodologies. Today, the academic marketing literature contains hundreds of articles that have employed these three broad classes of methodologies to investigate issues of channel intermediaries´ interorganizational relationships, for example, power-dependence, relational outcomes, conflict and negotiations, and manufacturing firms´ channel strategy, for example, channel structure, selection, coordination and control. So far, however, there has been no review of how the three different methodologies have contributed to advancing knowledge across this set of channels research domains.
Usually financial crises go along with bubbles in asset prices, such as the housing bubble in the US in 2007. This paper attempts to build a mathematical model of financial bubbles from an econophysics, and thus a new perspective. I find that agents identify bubbles only with a time delay. Furthermore, I demonstrate that the detection of bubbles is different on either the individual or collective point of view. Second, I utilize the findings for a new definition of asset bubbles in finance. Finally, I extend the model to the study of asset price dynamics with news. In conclusion, the model provides unique insights into the properties and developments of financial bubbles.
The paper designs a quantum model of decision-making (QMDM) that utilizes neuroscientific evidence. The new model provides both normative and positive implications to economics. First, it enhances the study of decision-making which is an extension of the expected utility theory (EUT) in mathematical economics. Second, we demonstrate how the quantum model mitigates drawbacks of the expected utility theory of today.
This paper analyzes governance mechanisms for different group sizes. The European sovereign debt crisis has demonstrated the need of efficient governance for different group sizes. I find that self-governance only works for sufficiently homogenous and small neighbourhoods. Second, as long as the union expands, the effect of credible self-governance decreases. Third, spill-over effects amplify the size effect. Fourth, I show that sufficiently large monetary unions, are better off with costly but external governance or a free market mechanism. Finally, intermediate-size unions are most difficult to govern efficiently.
This paper develops a linear and tractable model of financial bubbles. I demonstrate the application of the linear model and study the root causes of financial bubbles. Moreover, I derive leading properties of bubbles. This model enables investors and regulators to react to market dynamics in a timely manner. In conclusion, the linear model is helpful for the empirical verification and detection of financial bubbles.
This paper examines the determinants of Google search in the banking area. The weekly Google data from 2004 to 2013 used for this study consists of the 30 largest banks, the Federal Reserve, and the European Central Bank. To my knowledge, this is the first study on the determinants of Google data. Firstly the paper shows that Google searches are correlated with several performance variables and market data, such as asset prices and trading volume. Secondly it demonstrates that banks´ internal performance data has a major influence whereas market data is rather insignificant. Moreover it is shown that Google search for central banks is largely determined by the level of interest rates as well as the inflation and output gap. This is evidence that central bank attention is primarily driven by the policy targets. Accordingly Google data can be applied to analyze the timely impact of monetary policy.
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.
We investigate public debt sustainability in Europe and leading industrialised countries. The recent debate about the debt ceiling in the US and the sovereign debt crisis in Europe demonstrate the urgency of the topic. We measure debt sustainability of public finance with a standard and alternative methodology and compare both results. We use panel data of 205 OECD countries from 1970 to 2014. The paper finds unsustainable public debt levels for almost all countries in the past decades. Furthermore, given the low economic growth and demographic challenge ahead, debt levels may upsurge even more. There is a huge looming ‘debt meltdown’ on the horizon if countries do not change public policy soon.
In the last decade, numerous learning factories for education, training, and research have been built up in industry and academia. In recent years learning factory initiatives were elevated from a local to a European and then to a worldwide level. In 2014 the CIRP Collaborative Working Group (CWG) on Learning Factories enables a lively exchange on the topic "Learning Factories for future oriented research and education in manufacturing". In this paper results of discussions inside the CWG are presented. First, what is meant by the term Learning Factory is outlined. Second, based on the definition a description model (morphology) for learning factories is presented. The morphology covers the most relevant characteristics and features of learning factories in seven dimensions. Third, following the morphology the actual variance of learning factory manifestations is shown in six learning factory application scenarios from industrial training over education to research. Finally, future prospects of the learning factory concept are presented.
Shorter product life cycles and emerging technologies in the field of industrial equipment are changing the prerequisites and circumstances under which the design of assembly and logistics systems take place. Planners have to adapt the production in accordance with the underlying product at a higher pace, oversee a more complex system and - most importantly - find the ideal solution for functional as well as social interaction between humans and machines in a cyber-physical system. Such collaborative work systems consider the individual capabilities and potentials of humans and machines to combine them in a manner that assists the operator during his daily work routine towards more productive, less burdening work. To be able to design work systems which act on that maxim, specific competences such as the ability of integrated process and product planning as well as systems and interface competence are required. The ESB Logistics Learning Factory trains students as well as professionals to gain such qualification by providing a close-to-reality learning environment based on a didactical concept which covers all relevant methods for ergonomic work system design and a state-of-the-art infrastructure composed of a manual assembly system, service robots, visual assistance systems, sensor-based work load monitoring and logistical resources. Group-based, activity oriented scenarios enable the participants to put the learnings into practice within their professional environments. By this, learning factories have an indirect impact on the transfer of proven best practices to the industry and thereby on the diffusion of the idea of human-centric working environment.
In academia and industry learning factories are established as close-to-reality learning environments for education and training in the manufacturing domain. Although the approach and concept of existing learning factories is often similar, orientation and design of individual facilities are diverse. So far, there is no structured framework to describe learning factory approaches. In the paper a multidimensional description model is presented in form of a morphology which can be used as a starting point for the structuring and classification of existing learning factory application scenarios as well as a support for the development and improvement of learning factory approaches.
This paper establishes a unique linkage between economic and sociological theories. I study the root causes of the euro crisis from both perspectives. I find that resolving the euro crisis requires economic and sociological insights, particularly in respect to the design of European institutions, rules, and regulations. I develop a new paradigm in attempt to tackle the euro crisis. This paper demonstrates the importance of an interdisciplinary dialogue and how this may safeguard the future of the Economic and Monetary Union.
Throughout the past decade the rapid proliferation and widespread adoption of social media for marketing purposes can be observed across all technological and digital touch points. This paper focuses on the implementation of social media marketing during mega sports events. We examine impacts by analyzing Adidas’ and Nike’s social media campaigns in the frame of the FIFA World Cup 2014 in Brazil. What impact did the social media activities of Nike and Adidas have on their Twitter and Facebook presence? Which additional value did the social media activities contribute to their respective targets of the entire marketing campaign? In order to answer these questions an empirical study was conducted. Several hypotheses were formulated and tested.
Mastering of complex systems and interfaces, idea and innovation management as well as virtually integrated product and process planning are essential competences to be developed and fostered to cope with the changing role of the workforce in a future industry 4.0 work system. Learning factories, like the Logistics Learning Factory at Reutlingen University, which are equipped with state-of-the-art infrastructure, offer a high potential to decidedly address these competences.
IOS 2.0 : new aspects on inter-organizational integration through enterprise 2.0 technologies
(2015)
This special theme of „Electronic Markets“ focuses on research concerned with the use of social technologies and "2.0" principles in the interaction between organization (i.e., with "inter-organizational systems (IOS) 2.0"). This theme falls within the larger space of Enterprise 2.0 research, but focuses in particular on inter-organizational use (between enterprises), not intra-organizational use (in a single enterprise). While there is great interest in practice regarding the use of 2.0 technologies to support intra-organizational communication, collaboration and interaction, information systems (IS) research has largely been oblivious to this important use of social technologies.
Energy efficiency is an important issue, especially following the introduction of new energy services legislation in Germany. One thing that is often overlooked is the biggest cost driver in the processing industry: material expenditures. To make full use of any potential cost savings and raise competitiveness, companies have to look very carefully at all material flows. This raises the important question of how to organize resource efficiency projects strategically and in terms of operational implementation. The Steinbeis Transfer Center for Energy and Environmental Process Technology, Eco-Management is demonstrating the different options open to manufacturing companies when it comes to resource efficiency – showing that it really is worth subjecting the issue to closer scrutiny.
In this paper, we investigate how conventions enable organisational actors to cope with paradoxical tensions in performance appraisal systems. Building on a case study of a performance appraisal system reform in a public sector organisation, we analyse how this organisation enabled superiors to take into account both accountability and professional logic. When new appraisal rules required superiors to rank their employees according to their qualifications but also to show collegiate solidarity, superiors negotiated an organisation-wide understanding of the rules that enabled them to address both logics simultaneously. The study underlines the importance of collective understandings for individual responses to paradoxical tensions and reveals how performance appraisal systems can be operated according to different logics.
Previous studies have reported changes in organizational identities as a result of external or internal triggers. In contrast, we highlight how the paradoxical nature of an organizational identity can influence stability and change that identity. Using the example of Wikipedia, the free online encyclopedia, we show how a "stable state of instability" of the organization´s collective identity is constantly being reproduced. We contribute to the literature on organizational identity by first analyzing a case in which identity change is not triggered by a disruptive event. Second, we show how the paradoxical nature of identity triggers attempts to reconcile contradictions of the paradox, culminating in permanent state of gradual changes of organizational identity. Finally, we exemplify how, as a form of partial organization where volunteers take part in the identity formation process, Wikipedia copes with the tensions that ensue from its collective identity.
Purpose – The purpose of this paper is to discuss the applicability of current benchmarking proposals for small and medium-sized enterprises (SMEs) and to suggest a condensed process for logistics benchmarking in SMEs.
Design/methodology/approach – The paper starts by outlining why the logistics function is of increasing importance for SMEs. It discusses the benefit of logistics benchmarking and typical SME restrictions in benchmarking. Available approaches to benchmarking are discussed and their weaknesses when applied to SME logistics benchmarking are analyzed. The paper develops a new benchmarking process framework for SME logistics benchmarking and reports findings of a case application in three German SMEs.
The increasing emergence of cyber-physical systems (CPS) and a global crosslinking of these CPS to cyber-physical production systems (CPPS) are leading to fundamental changes of future work and logistic systems requiring innovative methods to plan, control and monitor changeable production systems and new forms of human-machine-collaboration. Particularly logistic systems have to obey the versatility of CPPS and will be transferred to so-called cyber physical logistic systems, since the logistical networks will underlie the requirements of constant changes initiated by changeable production systems. This development is driven and enhanced by increasingly volatile and globalized market and manufacturing environments combined with a high demand for individualized products and services. Also nowadays mainly used centralized control systems are pushed to their limits regarding their abilities to deal with the arising complexity to plan, control and monitor changeable work and logistic systems. Decentralized control systems bear the potential to cope with these challenges by distributing the required operations on various nodes of the resulting decentralized control system.
Learning factories, like the ESB Logistics Learning Factory at ESB Business School (Reutlingen University), provide a wide range of possibilities to develop new methods and innovative technical solutions in a risk-free and close-to-reality factory environment and to transfer knowledge as well as specific competences into the training of students and professionals. To intensify the research and training activities in the field of future work and logistics systems, ESB Business School is transferring its existing production system into a CPPS involving decentralized planning, control and monitoring methods and systems, human-machine-collaboration as well as technical assistance systems for changeable work and logistics systems.
A seamless convergence of the digital and physical factory aiming in personalized Product Emergence Process (PPEP) for smart products within ESB Logistics Learning Factory at Reutlingen University.
A completely new business model with reference to Industrie4.0 and facilitated by 3D experience software in today's networked society in which customers expect immediate responses, delightful experience and simple solutions is one of the mission scenarios in the ESB Logistics Learning Factory at ESB Business School (Reutlingen University).
The business experience platform provides software solutions for every organization in the company respectively in the factory. An interface with dashboards, project management apps, 3D - design and construction apps with high end visualization, manufacturing and simulation apps as well as intelligence and social network apps in a collaborative interactive environment help the user to learn the creation of a value end to end process for a personalized virtual and later real produced product.
Instead of traditional ways of working and a conventional operating factory real workers and robots work semi-intuitive together. Centerpiece in the self-planned interim factory is the smart personalized product, uniquely identifiable and locatable at all times during the production process – a scooter with an individual colored mobile phone – holder for any smart phone produced with a 3D printer in lot size one. Smart products have in the future solutions incorporated internet based services – designed and manufactured - at the costs of mass products. Additionally the scooter is equipped with a retrievable declarative product memory. Monitoring and control is handled by sensor tags and a raspberry positioned on the product. The engineering design and implementation of a changeable production system is guided by a self-execution system that independently find amongst others esplanade workplaces.
The imparted competences to students and professionals are project management method SCRUM, customization of workflows by Industrie4.0 principles, the enhancements of products with new personalized intelligent parts, electrical and electronic selfprogrammed components and the control of access of the product memory information, to plan in a digital engineering environment and set up of the physical factory to produce customer orders. The gained action-orientated experience refers to the chances and requirements for holistic digital and physical systems.
Purpose: The purpose of this paper is to comprehensively characterise the interdisciplinary phenomenon of ambush marketing in sports, structure its manifestations, illustrate the consequences associated with ambush marketing and provide a critical evaluation from an objective perspective.
Design/methodology/approach: Various approaches to the definition of ambush marketing are presented and the objectives pursued with ambush marketing are identified. In this paper a new approach has been developed to structure the strategies and manifestations of ambush marketing.
Findings: It is a fine line between creative marketing and infringing on sponsorship rights. So the interdisciplinary phenomenon ambush marketing is discussed controversially. Ambush marketing is situated at the intersection of two opposing spheres of interest conducting a battle for shares of the marketing potential of a sports event. On one side there is the disparaging view of ambush marketing founded on legal and/or ethical considerations. On the other, the author has the respectful assessment of ambushers characterised by their innovative, creative marketing.
Practical implications: The analysis conducted in this paper leads to the conclusion that a general evaluation or condemnation of ambush marketing is not feasible. A four-field matrix emerges from the combination of a legal statutory consideration on one hand and an ethical-moral assessment on the other.
Originality/value: The paper describes and structures ambush marketing in a novel form and discusses illustrating examples from major sporting events. Ambush marketing is evaluated from a neutral perspective by summarising the opportunities and threats of ambush marketing which leads to a nuanced contemplation of ambush marketing.
Systemic Constellation describes an approach that enables practitioners to examine and address typical issues in diversity management from a different, relational perspective. Systemic Constellation utilizes the human ability to recognize the qualities of relationships between two or more people from their spatial alignment to each other (transverbal language) and the capability to illustrate inner pictures by placing humans or objects in a room as representatives (representative perception). Systemic Constellation originated in the field of family therapy and counseling, but through research, guidance work, and teaching activities over the last two decades, it has developed into a generic, structural, constellation logic with multiple methods of application. It has been adapted to a variety of topics and issues, and a number of constellation formats. This article serves as a starting point for the transfer of Systemic Constellation into diversity management. It appears that conventional approaches taught in traditional management classes (such as focusing on tools, setting targets, planning measures, and offering incentives) are of limited use when trying to deal with problematic situations in diversity management. Preliminary trials show that new solutions and insights into deeper underlying dynamics can be gained on personal and institutional levels when applying Systemic Constellation. Participants find the application of the model as very beneficial. Systemic Constellation is grounded in personal experience and particularly in a person’s own experience of the consistency of representative perception. This viewpoint can only be conveyed rudimentarily in a scientific article. Readers should feel encouraged to apply Systemic Constellations themselves and use it in their work, experimentally and professionally. To harness the full potential of Systemic Constellations in diversity management, further research needs to be done.
The paper studies liquidity management in the banking sector at the zero lower bound implemented by central banks. The new era of monetary policy with interest rates at zero and quantitative easing programs raise questions about the effectiveness of central banking policy and their impact on the banking sector. I find that the zero lower bound reduces liquidity reserves of banks and thus creates less credit supply. The T-LTRO program, developed by the European Central Bank, has helped to tackle this problem. However, the recently expanded asset purchase program reveals the opposite effect. Hence, the recent liquidity provisions by central banks have put incentives rather on de-leveraging than bank lending.
This article analyses and compares the performance of regulators in the fields of finance and sport, especially cycling. I hypothesize that the courses of crises or scandals is the best time to study the lessons of regulatory response. First, I take into account the differences in both finance and cycling by looking at the nature of the rules and institutions governing the field. Second, I estimate the attention effect on new regulation in response to crises or scandals. The interest of the paper is in the alignment of incentives to prevent regulatory capture and to ensure accountability and enforceability. The paper concludes that the differences hold important lessons that call for the reform of rules and institutions governing finance and cycling alike.
This paper analyzes different government debt relief programs in the European Monetary Union. I build a model and study different options ranging from debt relief to the European Stability Mechanism (ESM). The analysis reveals the following: First, patient countries repay debt, while impatient countries more likely consume and default. Second, without ESM loans, indebted countries default anyway. Third, if the probability to be an impatient government is high, then the supply of loans is constrained. In general, sustainable and unsustainable governments should be incentivized differently especially in a supranational monetary union. Finally, I develop policy recommendations for the ongoing debate in the Eurozone.
The digital economy has created intense demands for innovations. Companies are responding in part by creating new digital products and services to meet increasing customer expectations.
MIT CISR findings indicate that product variety is NOT directly related to firm performance, and IS related to increased difficulties for costumers and employees.
Recent MIT CISR research found that an obsessive focus on innovation is a characteristic of CIOs of top-performing firms. There are now more ways than ever that a firm can be disrupted by and disruptive with digital innovations. Indeed, a growing number of firms and individuals are using increasingly powerful digital technologies and figuring out ways to develop better products and services, better customer and employee experiences, and new business models. The new digital imperative is to compete with more types of digital innovations - and IT units must refine approaches to producing them. Based on an in-depth caste study, this briefing takes a look at how German car manufacturer AUDI AG has expanded its portfolio of digital innovations.