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The 21st century: an era where emojis and hashtags find their way into every sentence, where taking selfies, live tweeting and mining bitcoin are the norm, and where Insta-culture dictates what we say and do. This is the era into which the digital native was born. With so many changes in every aspect of our lives, how is it that one of the most influential aspects, our education, has remained unchanged? Our education system not only fails to appeal to today’s students, but more importantly, it fails to equip them with the skills required in the 21st Century. It is thus of no surprise that industries feel graduates entering the workplace lack skills in critical thinking, problem solving and self-directed learning. AI, machine learning and big data: Tools and mechanisms we so eagerly incorporate to create smart factories yet are hesitant to use elsewhere. Gamification and games have shown great results in education and training; with most research suggesting a stronger focus on personalization and adaptation. When combined with analytics and machine learning, the potential of games is yet to be realized. A real-time adaptive game would not only always present an appropriate degree of challenge for the individual but would allow for a shift in focus from the recitation of facts, to the application of information filtered to solve the particular problem at hand. South Africa, a country faced with a severe skills gap, could benefit greatly from games. If used correctly, they may just offer a desperately needed contribution toward equipping both current and future employees with the skills needed to survive in the 21st century. This paper explores the feasibility of using such games for enhanced knowledge dissemination and the upskilling of the workforce.
Academic research is vital for innovation and industrial growth. However, a potential burden of processing ever more knowledge could be affecting research output and researchers’ careers. We look at a dataset of researchers who have published in journals in the field of economics during a period of 45 years. For a subset of these researchers, we amass data from journals listed in the EconLit database, supplemented with years of birth from public sources. Our results show an increase in the age of researchers at their first publication, in the number of articles referenced in debut articles, and in the number of co-authors. Simultaneously, we observe a decline in the probability of researchers changing research fields. Our findings extend earlier findings on patents and hint at a burden of knowledge pervading different areas of human progress. Moreover, our results indicate that researchers develop strategies of specialisation to deal with this challenge.
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.
Towards a sustainable future, looking beyond the system boundaries of a single manufacturing company is necessary to promote meaningful collaborations in terms of circular economy principles. In this context digital data processing technologies to connect the potential collaborators are seen as enablers to make use of proven collaborative circular business models (CCBMs). Since most of such data processing technologies rely on features to describe the entities involved, it is essential to provide guidance for identifying and selecting the relevant and most appropriate ones. Defining critical success factors (CSFs) is considered a suitable instrument to describe the decisive factors. A systematic literature review (SLR), followed by a qualitative synthesis is investigating two scientific fields of work, namely (1) the general relevant features of CCBMs and, (2) methodologies for determining CSFs. This results in the development of a conceptual framework which provides guidance for digital applications that perform further digital processing based on the relevant CSFs relating to the specific CCBM.
Intralogistics operations in automotive OEMs increasingly confront problems of overcomplexity caused by a customer-centred production that requires customisation and, thus, high product variability, short-notice changes in orders and the handling of an overwhelming number of parts. To alleviate the pressure on intralogistics without sacrificing performance objectives, the speed and flexibility of logistical operations have to be increased. One approach to this is to utilise three-dimensional space through drone technology. This doctoral thesis aims at establishing a framework for implementing aerial drones in automotive OEM logistic operations.
As of yet, there is no research on implementing drones in automotive OEM logistic operations. To contribute to filling this gap, this thesis develops a framework for Drone Implementation in Automotive Logistics Operations (DIALOOP) that allows for a close interaction between the strategic and the operative level and can lead automotive companies through a decision and selection process regarding drone technology.
A preliminary version of the framework was developed on a theoretical basis and was then revised using qualitative-empirical data from semi-structured interviews with two groups of experts, i.e. drone experts and automotive experts. The drone expert interviews contributed a current overview of drone capabilities. The automotive experts interview were used to identify intralogistics operations in which drones can be implemented along with the performance measures that can be improved by drone usage.
Furthermore, all interviews explored developments and changes with a foreseeable influence on drone implementation.
The revised framework was then validated using participant validation interviews with automotive experts.
The finalised framework defines a step-by-step process leading from strategic decisions and considerations over the identification of logistics processes suitable for drone implementation and the relevant performance measures to the choice of appropriate drone types based on a drone classification specifically developed in this thesis for an automotive context.
The financial crisis of 2007-2010 was probably one of the greatest, most lustrous black-swan events that people of our generation(s) will experience – and at its heart, it was a dynamic phenomenon. It is stated in the vision of the System Dynamics Society that we aspire to transform society by influencing decision-making. Yet, it seems as if system dynamics did not play any significant role in this crisis: we did not examine the markets, we did not provide insights to banks, and we did not warn governments or the people. In our presentation we describe the dynamics involved in a housing bubble, and describe what made the last one different. With the insights gained from this exercise we conclude that, from a system dynamics perspective, the dimension of the financial crisis of 2007-2009 was eminently foreseeable, which will lead us to pose the following question: where were we as a field while this crisis was unfolding, why were we not active players? We present a range of potential answers to this question, hoping to provoke some reflection… and maybe some (re)action.
This paper studies whether a monetary union needs a fical union in particular in the Eurozone. On 1 January 1999, despite controversial debates, the rule-based Economic and Monetary Union (EMU) started without a fiscal union. I show that there is weak economic convergence in the EMU since 18 years. In addition, I argue that a fiscal union does not solve the past disintegration failures.
I demonstrate that the major flaws are domestic policy failures and not institutional failures in the euro area. Consequently, establishing a monetary union without having a political union is a risky strategy. Indeed, the rule-based architecture of Maastricht is not guilty for the crisis alone. The root causes are the political flaws aligned with the rather weak enforcement of the rules. I propose a genuine redesign of the rule-based paradigm without a fiscal union. Yet a monetary union without a fiscal union works effectively if the rule enforcement is more automatic and independent of domestic and European policy-making.
This article is a review of the book "Brain computation as hierarchical abstraction" by Dana H. Ballard published by MIT press in 2015. The book series computational neuroscience familiarizes the reader with the computational aspects of brain functions based on neuroscientific evidence. It provides an excellent introduction of the functioning, i.e. the structure, the network and the routines of the brain in our daily life. The final chapters even discuss behavioral elements such as decision-making, emotions and consciousness. These topics are of high relevance in other sciences such as economics and philosophy. Overall, Ballard’s book stimulates a scientifically well-founded debate and, more importantly, reveals the need of an interdisciplinary dialogue towards social sciences.
This paper is a brief review on the book ‘Capital in the Twenty-First Century’ by the French scholar Thomas Piketty. The book has started a new debate about inequality and capital taxation in Europe. It provides interesting empirical facts and develops a theory of the functioning of capitalist economies. However, I personally think the book is less convincing than recognized in the public debate. The demonstrated theory of economic growth in the book is elusive and lacks a psychological and behavioral underpinning. In fact, I do think that the increasing inequality and economic divergence are caused by capitalism but the psychological and behavioral aspects of humans are of similar or greater significance. Therefore, Piketty’s argument does not stimulate an open and scientifically founded debate in all aspects.