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In this paper, the essential sponsorship basics are presented and the communication instrument of sports sponsorship is illustrated. Building on this, both the perspectives of sponsors and sponsees are examined in detail. In addition, the special features of sports event sponsorships are highlighted. Finally, current developments in sports sponsorship in the context of the FIFA Soccer World Cup 2022 in Qatar and the UEFA European Soccer Championship 2024 in Germany are compared and discussed.
Purpose
As a response to the increased frequency of disruptive events and intense competition, organizational agility has become a key concept in organizational research. Fostering organizational agility requires leveraging knowledge that exists both outside (exploration) and inside (exploitation) the organization. This research tests the so-called ambidexterity hypothesis, which claims that a balance between exploration and exploitation leads to increased organizational outcomes, including the development of organizational agility. Complementing previously established measurement models on ambidexterity, this research proposes an alternative measurement model to analyze how ambidexterity can enhance organizational agility and, indirectly, performance, taking into consideration the moderating effect of environmental competitiveness.
Design/methodology/approach
A review of existing measurement models for ambidexterity shows that tension, a crucial aspect of ambidexterity, is often neglected. The authors, therefore, develop a new measurement model of ambidexterity to incorporate ambidexterity-induced tension. Using this measurement model, they examine the effect of ambidexterity on the development of entrepreneurial and adaptive agility as well as performance.
Findings
Ambidexterity positively influences both entrepreneurial and adaptive agility, indicating that a balance between exploration and exploitation has superior organizational effects. This finding confirms the ambidexterity hypothesis with respect to organizational agility. Furthermore, both entrepreneurial and adaptive agility drive organizational performance. These two indirect effects via agility fully mediate the impact of ambidexterity on organizational performance. Finally, environmental competitiveness positively moderates the relationship between ambidexterity and adaptive agility.
Originality/value
The findings extend research on ambidexterity by showing its positive effects on organizational agility. Furthermore, the study proposes an alternative operationalization to capture the ambidexterity construct that may lay the groundwork for further applications of the ambidexterity concept.
In the context of Industry 4.0, intralogistics faces an increasingly complex and dynamic environment driven by a high level of product customisation and complex manufacturing processes. One approach to deal with these changing conditions is the decentralised and intelligent connectivity of intralogistics systems. However, wireless connectivity presents a major challenge in the industry due to strict requirements such as safety and real-time data transmission. In this context, the fifth generation of mobile communications (5G) is a promising technology to meet the requirements of safety-critical applications. Particularly, since 5G offers the possibility of establishing private 5G networks, also referred to as standalone non-public networks. Through their isolation from public networks, private 5G networks provide exclusive coverage for private organisations offering them high intrinsic network control and data security. However, 5G is still under development and is being gradually introduced in a continuous release process. This process lacks transparency regarding the performance of 5G in individual releases, complicating the successful adoption of 5G as an industrial communication. Additionally, the evaluation of 5G against the specified target performance is insufficient due to the impact of the environment and external interfering factors on 5G in the industrial environment. Therefore, this paper aims to develop a technical decision-support framework that takes a holistic approach to evaluate the practicality of 5G for intralogistics use cases by considering two fundamental stages. The first of these analyses technical parameters and characteristics of the use case to evaluate the theoretical feasibility of 5G. The second stage investigates the application's environment, which substantially impacts the practicality of 5G, for instance, the influence of surrounding materials. Finally, a case study validates the proposed framework by means of an autonomous mobile robot. As a result, the validation proves the proposed framework's applicability and shows the practicality of the autonomous mobile robot, when integrating it into a private 5G network testbed.
Project managers still face management problems in interorganizational Research and Development (R&D) projects due to their limited authority. Addressing a project culture which is conducive to cooperation and innovation in interorganizational R&D project management demands commitment of individual project members and thus balances this limited authority. However, the relational collaboration level at which project culture manifests itself is not addressed by current project management approaches, or it is addressed only at a late stage. Consequently, project culture develops within a predefined framework of project organization and organized contents and thus is not actively targeted. Therefore, a focus shift towards project culture becomes necessary. This can be done by a project-culture-aware management. The method CLIPS actively supports interorganizational project members in this kind of management. It should be integrable in the common project management approaches, that with its application all collaboration levels are addressed in interorganizational R&D project management. The goal of this paper is to demonstrate the integrability of the method CLIPS and show how it can be integrated in common project management approaches. This enriches interorganizational R&D project management by a project culture focus.
The influence of trust on the adherence to investment recommendations in the context of robo-advisors is under-researched. This relationship needs to be better understood because robo-advice lacks a critical element of trust: human interaction. Theory suggests that ability, integrity, and benevolence are key factors in building trust in human advisors. Using an experimental study design, our research examines the relationship between a robo-advisor's trust attributes and the acceptance of its investment advice. The results show that trust in a robo-advisor increases the propensity to follow its recommendations. While ability and integrity are significant, benevolence is not. The study contributes to the research on technology acceptance, trust, and the adoption of technology-based recommendations by improving the understanding of the relationship between trust and the acceptance of automated investment recommendations.
In the last few years, business firms have substantially invested into the artificial intelligence (AI) technology. However, according to several studies, a significant percentage of AI projects fail or do not deliver business value. Due to the specific characteristics of AI projects, the existing body of knowledge about success and failure of information systems (IS) projects in general may not be transferrable to the context of AI. Therefore, the objective of our research has been to identify factors that can lead to AI project failure. Based on interviews with AI experts, this article identifies and discusses 12 factors that can lead to project failure. The factors can be further classified into five categories: unrealistic expectations, use case related issues, organizational constraints, lack of key resources, and, technological issues. This research contributes to knowledge by providing new empirical data and synthesizing the results with related findings from prior studies. Our results have important managerial implications for firms that aim to adopt AI by helping the organizations to anticipate and actively manage risks in order to increase the chances of project success.
This study examines the underexplored areas of customer success management, focusing on the impact of leadership and companywide collaboration, and the role of customer success in overall firm performance. A qualitative research approach was utilized, which involved reviewing relevant literature and conducting an interview with the Vice President of Customer Success Management in B2B at a case company. Findings revealed that both leadership and pervasive collaboration greatly enhance the customer journey experience. Given that 75% of Annual Recurring Revenue is derived from existing customers, the substantial role of customer success in propelling business growth is affirmed. The study also demonstrated the importance of proactive customer engagement, assimilating customer feedback into products and services, and nurturing personal relationships with customers for fostering innovation. It further stressed the need for service provision and decision-making at various levels, as well as the implementation of a range of communication channels, to ensure customer success.
This study examines the phenomenon of Virtual Influencer (VI) marketing and its impact on customer purchase behavior. The aim is to understand the scope and impact of VI marketing. The study compares VI marketing to traditional Human Influencer (HI) marketing and identifies the unique benefits and challenges associated with VIs. A survey was conducted to gain insight into consumer attitudes and behaviors toward VIs. Key findings reveal varying levels of trust and acceptance of VIs among consumers. While some participants expressed openness to buying products promoted by VIs, others had reservations about their authenticity. The study also explores the potential role of VIs in the metaverse, highlighting business opportunities and challenges in this evolving digital landscape. Overall, this research sheds light on the growing influence of VIs and the need for further research in the field of marketing.
Purpose – This paper explores, which employer attractiveness attributes Generation Z (Gen Z) talents prioritize. Comparing the findings for female and male participants, this study examines whether gender-specific work value orientations prevail among Gen Z talents and impact their expectations toward employers.
Design/methodology/approach – A survey was conducted among 308 students of business, economics and management in Germany. Data were collected using the employer attractiveness scale of Berthon and colleagues (2005) complemented by an additional dimension focusing on work–life balance.
Findings – Findings indicate that Gen Z talents primarily expect a fun work environment, a positive team atmosphere and supportive relations with colleagues and superiors. Application aspects and work–life balance enabling services are expected the least. Expectations of four of the six attributes measured differ significantly among women and men, indicating that traditional gender assumptions continue to be reflected in the work value orientations of Gen Z talents.
Research limitations/implications – The sample was limited to business, economics and management students in Germany. Additional research should include a wider variety of respondents of different disciplines and countries.
Practical implications – Practical implications refer to emphasizing the social value of employment in the employee value proposition and customizing employer branding activities by gender.
Originality/value – This study contributes to the literature by empirically determining which employer attractiveness attributes Gen Z talents expect and whether and how these expectations vary by gender.
Purpose
Digital transformation of organizations has major implications for required skills and competencies of the workforce, both as a prerequisite for implementation, and, as a consequence of the transformation. The purpose of this study is to analyze required skills and competencies for digital transformation using the context of robotic process automation (RPA) as an example.
Design/methodology/approach
This study is based on an explorative, thematic coding analysis of 119 job advertisements related to RPA. The data was collected from major online job platforms, qualitatively coded and subsequently analyzed quantitatively.
Findings
The research highlights the general importance of specific skills and competencies for digital transformation and shows a gap between available skills and required skills. Moreover, it is concluded that reskilling the existing workforce might be difficult. Many emerging positions can be found in the consulting sector, which raises questions about the permanent vs temporary nature of the requirements, as well as the difficulty of acquiring the required knowledge.
Originality/value
This paper contributes to knowledge by providing new empirical findings and a novel perspective to the ongoing discussion of digital skills, employment effects and reskilling demands of the existing workforce owing to recent technological developments and automation in the overall context of digital transformation.
Artificial intelligence (AI) is one of the most promising technologies of the post-pandemic era. Cloud computing technology can simplify the process of developing AI applications by offering a variety of services, including ready-to-use tools to train machine learning (ML) algorithms. However, comparing the vast amount of services offered by different providers and selecting a suitable cloud service can be a major challenge for many firms. Also in academia, suitable criteria to evaluate this type of service remain largely unclear. Therefore, the overall aim of this work has been to develop a framework to evaluate cloud-based ML services. We use Design Science Research as our methodology and conduct a hermeneutic literature review, a vendor analysis, as well as, expert interviews. Based on our research, we present a novel framework for the evaluation of cloud-based ML services consisting of six categories and 22 criteria that are operationalized with the help of various metrics. We believe that our results will help organizations by providing specific guidance on how to compare and select service providers from the vast amount of potential suppliers.
Turning students into Industry 4.0 entrepreneurs: design and evaluation of a tailored study program
(2022)
Startups in the field of Industry 4.0 could be a huge driver of innovation for many industry sectors such as manufacturing. However, there is a lack of education programs to ensure a sufficient number of well-trained founders and thus a supply of such startups. Therefore, this study presents the design, implementation, and evaluation of a university course tailored to the characteristics of Industry 4.0 entrepreneurship. Educational design-based research was applied with a focus on content and teaching concept. The study program was first implemented in 2021 at a German university of applied sciences with 25 students, of which 22 participated in the evaluation. The evaluation of the study program was conducted with a pretest–posttest-design targeting three areas: (1) knowledge about the application domain, (2) entrepreneurial intention and (3) psychological characteristics. The entrepreneurial intention was measured based on the theory of planned behavior. For measuring psychological characteristics, personality traits associated with entrepreneurship were used. Considering the study context and the limited external validity of the study, the following can be identified in particular: The results show that a university course can improve participants' knowledge of this particular area. In addition, perceived behavioral control of starting an Industry 4.0 startup was enhanced. However, the results showed no significant effects on psychological characteristics.
Will chatbots play a significant role for B2B marketingin the future? Chatbots in B2B businesses
(2022)
Digitalization has gained a foothold in our everyday lives. However, it remains to be seen what digital tools B2B companies can benefit from. During the last few years, chatbots have been on the rise and have played a more significant role in B2B marketing. Thus, this research follows a literature review to examine the current state of B2B chatbots. With this, the study will discover the buyer’s preferences for chatbots compared to sales agents and the role of chatbots in different stages of the B2B sales funnel.
This article aims to give an overview of what German business needs in current times. By illustrating the Made in Germany label as a perceived image in sales, specific attributes are being evaluated to explain better the challenges German businesses are currently facing: Digitization, Education, Environment, and Quality & China.
The purpose of this paper sought to develop a collaborative framework that provides wine bottling facilities, wine cellars and their direct supply chain partner guidelines to facilitate a collaborative partnership – aiming to aid responsive decision making and improve reliability. The framework was developed using a triangulation approach, consisting of an in-depth literature review, 14 semi-structured interviews with industry experts and a theoretical case study. The developed framework was presented to wine bottling facilities and their supply chain stakeholders. Indication are that the proposed wine industry collaborative framework should enhance supply chain collaboration and will contribute towards the guidance and facilitation in developing collaboration platforms to align supply chain operations, while improving bottling responsiveness and meeting demand requirements.
An empirical study on management accountants’ roles and role perceptions: a German perspective
(2022)
The ongoing discussion on roles of management accountants (MAs) leads often to perceive the business partner (BP) role as the role of choice. Yet, many scholars and practitioners seem to assume that this role is clear to managers and MAs, that it makes sense for them and that all managers and MAs agree on it and implement it. Inconsistencies between actual roles, perceived, and expected roles might cause identity and role conflicts. However, we lack evidence of whether managers and MAs perceive, expect and act in the BP role and if tensions and conflicts might exist. This paper is based on a quantitative empirical study of a large German high-tech firm in 2019 whose top management decided to implement the BP role. We found several areas of tension in this role discussion and contribute to the literature on MAs’ roles with a more nuanced view of the interaction between managers and MAs regarding MAs’ roles. The study shows that there are mainly differences in business managers’ expectations of MAs to the role of the BP, which the MAs do not know exactly how to fulfill.
Affordable Luxury Sports Cars in Germany : Investigating the Determinants of Customer Experience
(2022)
The article discusses the factors affecting the customer experience when buying affordable luxury sports cars in Germany by identifying differences between first-time and experienced buyers. It emphasizes the need for the creation of two different customer journeys based on different customer experience clusters, a touchpoint analysis from the customer perspective identified differences in purchase stages, and staff behaviour and brand trust for customer satisfaction and brand identification.
Neuromarketing is already relatively advanced when it comes to researching the principle effect of marketing in the brain. What is often still missing, however, is the transfer of these findings into practice. The reason for this is that research has so far primarily pursued the question of „why?“. For practice, however, the question of „how?“ is much more relevant. This article attempts to answer the latter question, i.e. to bridge the gap between research and practice in the field of retail marketing. Is there a buy button in the consumer´s brain? And if so, how can it be activated? Neuromarketing is a young discipline at the interface of cognitive science, neuroscience and market research. Due to technological progress, neuromarketing can provide important insights for retail, especially insights to explain consumer behaviour. By looking into the customer’s brain, retail companies can address their customers in a more targeted manner and thus gain an advantage over competitors. Especially the influence of emotions and the unconscious play a major role in the purchase decision of consumers. Using the limbic map, customers can be clustered into types based on the characteristics of their emotional systems, for which specific marketing measures can be derived. Best-practice examples from the retail sector show that a targeted approach to specific shopping types in retail can lead to success.
Hybrid project management is an approach that combines traditional and agile project management techniques. The goal is to benefit from the strengths of each approach, and, at the same time avoid the weaknesses. However, due to the variety of hybrid methodologies that have been presented in the meantime, it is not easy to understand the differences or similarities of the methodologies, as well as, the advantages or disadvantages of the hybrid approach in general. Additionally, there is only fragmented knowledge about prerequisites and success factors for successfully implementing hybrid project management in organizations. Hence, the aim of this study is to provide a structured overview of the current state of research regarding the topic. To address this aim, we have conducted a systematic literature review focusing on a set of specific research questions. As a result, four different hybrid methodologies are discussed, as well as, the definition, benefits, challenges, suitability and prerequisites of hybrid project management. Our study contributes to knowledge by synthesizing and structuring prior work in this growing area of research, which serves as a basis for purposeful and targeted research in the future.
This article explores the determinants of people’s growth prospects in survey data as well as the impact of the European recovery fund to future growth. The focus is on the aftermath of the Corona pandemic, which is a natural limit to the sample size. We use Eurobarometer survey data and macroeconomic variables, such as GDP, unemployment, public deficit, inflation, bond yields, and fiscal spending data. We estimate a variety of panel regression models and develop a new simulation-regression methodology due to limitation of the sample size. We find the major determinant of people’s growth prospect is domestic GDP per capita, while European fiscal aid does not significantly matter. In addition, we exhibit with the simulation-regression method novel scientific insights, significant outcomes, and a policy conclusion alike.
Purpose: Interpretive research in management accounting and control provides rich insights from empirically based studies, but it has been criticised for lacking generalisability and potential subjectivity. On the latter, triangulation is useful, and this paper aims to offer some insights on a triangulation technique thus far not commonly reported in management accounting/control research.
Design/methodology/approach: Drawing on a study of the roles of management accountants in performance management systems, this paper offers some insights from empirical experiences on the use of concept maps as a tool to assist triangulation and improve understanding of complex empirical phenomena.
Findings: The concept maps as utilised revealed additional insights which were not recounted by interviewees during the normal interview time. This is a potentially important finding for consideration of future researchers.
Practical implications: In this paper, how concept maps were used is detailed, and it is hoped that future researchers will find their use beneficial in interview settings.
Originality/value: Thus far, concept maps seem under-utilised in management accounting and control research. This paper gives some initial insights on how they may be used in case study settings.
This study determines the correlation between industry-specific success patterns of Germany’s engineering industry and the business models applied within. In order to identify this correlation, the following objectives are addressed within the framework of this paper: (1) identification and description of business models used by Germany’s engineering industry; (2) analysis of industry-specific success patterns of Germany’s engineering industry by the usage of Key-Performance-Indicators (KPIs); and (3) determination of correlation between the KPIs and Germany’s engineering industry’s business models’ effectiveness. These objectives are mainly achieved by literature research and expert surveys. The findings highlight the KPIs (overall 41) that are relevant for the respective business models. This enables a better understanding of the interrelationships of the business model, in order to derive relevant conclusions. The paper contributes to the literature as it advances this field of research in Germany, and it is one of the first studies to examine the relationship between business models and industry-specific success patterns with relevant KPIs.
This paper studies the power of online search intensity metrics, measured by Google, for examining and forecasting exchange rates. We use panel data consisting of quarterly time series from 2004 to 2018 and ten international countries with the highest currency trading volume. Newly, we include various Google search intensity metrics to our panel data. We find that online search improves the overall econometric models and fits. First, four out of ten search variables are robustly significant at one percent and enhance the macroeconomic exchange rate models. Second, country regressions corroborate the panel results, yet the predictive power of search intensity with regard to exchange rates vary by country. Third, we find higher prediction performance for our exchange rate models with search intensity, particularly in regard to the direction of the exchange rate. Overall, our approach reveals a value-added of search intensity in exchange rate models.
Public enterprises find themselves in increasingly competitive markets, a situation that makes having an entrepreneurial orientation (EO) an urgent need, given that EO is an indispensable driver of performance. Research describes politicians delaying the strategic change of public enterprises when serving as board members, but empirical evidence of the impact of board behavior on EO in public enterprises is lacking. We draw on stakeholder-agency theory (SAT) and resource dependence theory (RDT) and use structural equation modeling (SEM) to investigate survey data collected from 110 German energy suppliers that are majority government owned. Results indicate that board strategy control and board networking do not seem to predict EO on first sight. Closer analysis reveals a board networking–EO relationship depending on ownership structure. Remarkably, we find that it is not the usually suspected local municipal owner who hinders EO in our sample organizations but minority shareholders engaging in board networking activities. The results shed light on the intersection of governance and entrepreneurship with special reference to the fine-grained conceptualization of RDT.
This paper intends to give an insight on how to develop a customer loyalty-focused gamification concept, that will trigger intrinsic motivation and hence strengthen customer loyalty, using the mobility industry as an example. The authors conducted explorative expert interviews to create a cross-industry process chart that guides the generic development of a customer loyalty-focused gamification concept.
Purpose: Despite growing interest in the intersection of supply chain management (SCM) and management accounting (MA) in the academic debate, there is a lack of understanding regarding both the content and the delimitation of this topic. As of today, no common conceptualization of supply chain management accounting (SCMA) exists. The purpose of this study is to provide an overview of the research foci of SCMA in the scholarly debate of the past two decades. Additionally, it analyzes whether and to what extent the academic discourse of MA in SCs has already found its way into both SCM and MA higher education, respectively.
Design/methodology/approach: A content analysis is conducted including 114 higher education textbooks written in English or in German language.
Findings: The study finds that SC-specific concepts of MA are seldom covered in current textbooks of both disciplines. The authors conclude that although there is an extensive body of scholarly research about SCMA concepts, there is a significant discrepancy with what is taught in higher education textbooks.
Practical implications: There is a large discrepancy between the extensive knowledge available in scholarly research and what we teach in both disciplines. This implies that graduates of both disciplines lack important knowledge and skills in controlling and accounting for SCs. To bring about the necessary change, MA and SCM in higher education must be more integrative.
Originality/value: To the best of the authors knowledge, this study is first of its kind comprising a large textbook sample in both English and German languages. It is the first substantiated assessment of the current state of integration between SCM and MA in higher education.
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.
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.
On the design of an urban data and modeling platform and its application to urban district analyses
(2020)
An integrated urban platform is the essential software infrastructure for smart, sustainable and resilitent city planning, operation and maintenance. Today such platforms are mostly designed to handle and analyze large and heterogeneous urban data sets from very different domains. Modeling and optimization functionalities are usually not part of the software concepts. However, such functionalities are considered crucial by the authors to develop transformation scenarios and to optimized smart city operation. An urban platform needs to handle multiple scales in the time and spatial domain, ranging from long term population and land use change to hourly or sub-hourly matching of renewable energy supply and urban energy demand.
How companies use digital technologies to enhance customer offerings - summary of survey findings
(2019)
Digital technologies are transforming how companies do business. Social, mobile, analytics, cloud, and the Internet of Things - which together we refer to as SMACIT - along with artificial intelligence, blockchain, and an ongoing procession of new technologies create new capabilities : specifically, ubiquitous data, unlimited connectivity, and massive, affordable processing power.
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.
In daily life, people tend to use mental shortcuts to simplify and speed up their decision-making processes. A halo effect exists if the impression created by a dominant attribute influences how other attributes of an object or subject are judged. It involves a cognitive bias that leads to distorted assessments. However, the halo effect has barely been researched in a sports-related context, although it can substantially contribute to understanding how sport fans think and behave. The objective of this paper is to answer the question that is of interest for both theory and practice of sports marketing: Is there a halo effect in sports? Does the sporting success or failure of a professional soccer team radiate or even outshine other sports related and non-sports aspects and influence or distort how the club is perceived by its fans? Fans of six soccer clubs selected from the first German soccer league Bundesliga were interviewed. This paper presents the results of an empirical study based on a data set consisting of a total of 4,180 cases. The results of the analyses substantiate the distortion of the fans’ perception with regard to a very diverse range of aspects that is triggered by the sporting success or failure of their favorite club.
Private equity (PE) firms are investment firms that acquire equity shares in companies. The goal of PE firms is to exit the investment after few years with a substantial increase in value. PE firms often claim to outperform the market, i.e. to create alpha.
The overall aim of this paper is to unravel the mystery of value creation in the PE industry. First, the author presents a conceptual framework for value creation in the PE industry based on a multiple valuation model that breaks down value creation into different elements. Second, the paper evaluates whether PE firms really create value by analysing and combining results from prior empirical studies based on the conceptual framework.
The results show that existing empirical evidence is mixed but that there is indeed a tendency toward a positive evidence that PE firms create economic value in average. However, there are methodological difficulties in measuring the value creation and studies are often subject to bias. Finally, it is pointed out that the question whether PE firms really create value has to be viewed from different perspectives such as the perspective of the PE firm, the investors and the portfolio companies.
Successful digital offerings are created at the intersection of what technologies can deliver and what customers want and will pay for. That point of intersection, however, has proved to be elusive. To find it, companies must experiment repeatedly, cocreate with customers, and assemble cross-functional development teams - and the insights gleaned along the way must be shared internally.
In this article, we discuss how several of the nearly 200 companies we've studied have built and exercised these capabilities. We also take a close look at how one company, Schneider Electric, is using them to acquire and share customer insights.
This paper generalizes the theory of policy uncertainty with the new literature on rational inattention. First, the model demonstrates that inattention is dependent on the signal variance and the policy parameter. Second, I discover a novel trade-off showing that a policy instrument mitigates attention. Third, the policy instrument is non-linear and reciprocal to both the size and variance of the signal. The unifying theory creates new implications to economic theory and public policy alike.
Theory predicts that market‐timing activities bias Jensen's alpha (JA). However, empirical studies have failed to find consistent evidence of this bias. We tackle this puzzle in a nested model analysis and show that the bias contains an exogenous market component that is unrelated to market‐timing skill. In a comprehensive empirical analysis of US mutual funds, we find that the timing‐induced bias in JA is mainly driven by this market component, which is uncorrelated with measured timing activities. Measures of total performance that allow for timing activities are virtually identical to JA, even if timing activities are present in the evaluated fund. Hence, we conclude that JA is a sufficient measure of total performance.
Customer relationship management (CRM) is one of the most frequently adopted management tools and has received much attention in the literature. From a company-wide perspective, CRM is viewed as a complex process requiring interventions in different company areas. Previous research has already highlighted the pitfalls and failures related to a partial and incomplete view of CRM. This study advances research on CRM by investigating the impact of the relative implementation time according to which interventions are implemented in different areas (customer management, CRM technology, organizational alignment, and CRM strategy) on CRM performance. The results of the empirical study reveal that compared to other critical CRM activities, a later implementation of organizational alignment activities has a negative impact on performance. Further, our results show that CRM implementations do not equally address the areas of customer acquisition, growth, and loyalty, since this clearly depends on company objectives and also on geographical differences.
A new class of information system architecture, decision-oriented service systems, is spreading more and more. Decision-oriented service systems provide services that support decisions in business processes and products based on the capabilities of cloud-computing environments. To pave the way for the creation of design methods of business processes and products based on decision-oriented service systems, this article introduces a capability-oriented approach. Starting from technological capabilities, more abstract operational and dynamic capabilities are created. The framework created is based on an integrated conceptualization of decision-oriented service systems that allows capturing synergetic effects. By creating the framework, the gap between the technological capabilities of technologies and the strategic goals of enterprises shall be narrowed.
PI Chile, a subsidiary of the Principal Financial Group, adopted a new digital vision in 2017 and initiated a transformation of the company with the goal of using digital offerings to help many more customers reach their financial goals. To do this, PI Chile had to wrap its legacy applications in APIs, build a reusable digital platform for the new offerings, and learn what kinds of tools and information customers would and could use. In addition, PI Chile was experimenting with entirely new ways of working for those staff who were developing the new offerings. The company's new accountability framework sought to empower teams to make key decisions quickly. In a short time, PI Chile was well on its way to becoming designed for digital.
Successful digital business strategies rely less on strategic analysis and big bets than on experiments and learning. Consider, for example, that Airbnb grew out of the belief that people would pay to sleep on air mattress on a stranger's floor. Similarly, Instagram started as an app for checking in and hanging out with friends (and sharing pictures) that proved complicated to use. Twitter's founders had first tried a podcasting platform, Odeo, which Apple made obsolete with iTunes. AUDI AG had to kill of its "share a car with five friends" app before rolling out more successful mobility services in a number of countries. The digital successes did not grow out of a comprehensive upfront analysis. Digital strategy emerges from an idea - often, not a particularly good idea.
In recent years the share economy has gained widespread success across different industries. Since small firms and new ventures obtain fewer resources, an increased focus on service allows them to differentiate and compete with cost pressure in traditionally manufacturing based industries. There still is a lack of understanding how these firms manage to successfully shift towards service-oriented business models. This paper adopts a dynamic capabilities approach to examine the particular microfoundations that underlie sensing, seizing and reconfiguring dynamic capabilities of early-stage service firms within a traditional retail market. The context of this study is the fashion industry. It is an ideal setting since it is characterized by severe competition, short life cycles, strong cost pressure and high volatility. There are few but increasing examples of entrepreneurial initiatives that try to compete by providing offers to resell, rent or swap clothes. Qualitative data of five early stage fashion ventures is analyzed. Findings reveal that the ability to develop and maintain long-term relationships is essential. It has also been found crucial to acquire knowledge from external network partners, delegate tasks and share information. Furthermore, skills for interacting with customers and adopting consumer feedback are critical. This study provides empirical evidence of dynamic capabilities of early-stage firms and contributes to knowledge on the factors that facilitate servitization in traditionally manufacturing based industries. For practitioners, the presented microfoundations provide a framework of critical tasks that allow them to develop and maintain a service oriented business model.
Relocation of production to countries with low labour costs has induced increased labour market flexibility, which has been praised as a silver bullet for economic growth and low unemployment. Within a unionised oligopoly framework, in which a multinational firm has the option to relocate its production to a foreign country, we analyse the welfare implications of both centralised and flexible wage-setting regimes. For very low foreign wages, wage flexibility leads to higher welfare than a rigid centralised regime. In contrast, for ‘intermediate’ wage levels in the foreign country, an industry-wide uniform wage leads to higher social welfare than flexible wages.
Royal Philip's goal was to use innovation to improve the lives of three billion people a year by 2025. To reach that goal, the company was shifting from selling medical products in a transactional manner to providing integrated healthcare solutions based on digital health technology ("HealthTech").
This shift required a dual transformation. On one hand, the company needed to transform how healthcare was conducted. Healthcare professionals would have to change the way they worked and reimbursement schemes needed to change to incentivize payers, providers, and patients in vastly different ways. On the other hand, Philips needed to redesign how it worked internally. The company componentized its business, introduced digital platforms, and co-created solutions with the various stakeholders of the healthcare industry.
In other words: Royal Philips was transforming itself in order to reinvent healthcare in the digital age.
Historically, research and development (R&D) in the pharmaceutical sector has predominantly been an in-house activity. To enable investments for game changing late-stage assets and to enable better and less costly go/no-go decisions, most companies have employed a fail early paradigm through the implementation of clinical proof-of-concept organizations. To fuel their pipelines, some pioneers started to complement their internal R&D efforts through collaborations as early as the 1990s. In recent years, multiple extrinsic and intrinsic factors induced an opening for external sources of innovation and resulted in new models for open innovation, such as open sourcing, crowdsourcing, public–private partnerships, innovations centres, and the virtualization of R&D. Three factors seem to determine the breadth and depth regarding how companies approach external innovation: (1) the company’s legacy, (2) the company’s willingness and ability to take risks and (3) the company’s need to control IP and competitors. In addition, these factors often constitute the major hurdles to effectively leveraging external opportunities and assets. Conscious and differential choices of the R&D and business models for different companies and different divisions in the same company seem to best allow a company to fully exploit the potential of both internal and external innovations.
To deliver on a digital value proposition, companies must fundamentally re-architect. In other words, they must redesign their processes, systems, roles, data, and habits to allow them to iteratively create, enhance, an replace digital offerings. This briefing examines how Royal Philips is transforming its value proposition - and its entire company - to seize the opportunities presented by digital technologies.
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.
The fashion industry is well documented for causing significant environmental impact. Product-service systems (PSS) present a promising way to solve this challenge. PSS shift the focus toward complementary service offers, which decouples customer satisfaction from material consumption and entails dematerialization. However, PSS are not ecoefficient by nature but need to be accompanied by corporate environmental management (CEM) practices. The objective of this article is to examine the potential of PSS to contribute to the environmental sustainability of today's fashion industry by investigating if fashion firms with a positive attitude toward PSS implementation also pursue goals related to the ecological environment. For this purpose, analysis of variance (ANOVA) is conducted to analyze data of 102 fashion firms. Results reveal that the diffusion of PSS in today's fashion industry is low and few firms consider implementing PSS. Results, furthermore, demonstrate that PSS implementation is positively related to CEM. This indicates that existing structures of CEM favor PSS implementation and unlock the eco-efficient potential of implemented PSS in the fashion industry.
This article highlights three major outcomes from global employability surveys about the topic of gender diversity. Students and graduates of two master programs at ESB Business School of Reutlingen University in Germany were asked about their study programs, their expected and their realized career paths, and their individual well-being. This article highlights selected gender differences that were discovered in the analysis and underlines results on specific gender issues. The three major outcomes are: firstly, men and women work in different industries, functions, and leadership positions; secondly, there is a potential for unfulfilled expectations of young managers regarding their achievement of certain positions and the realization of their private goals; thirdly, by looking at the graduates’ career paths in combination with their well-being, a low level of satisfaction with work-life balance and high levels of stress could be identified. The results give valuable insights into the conceptual world of students at the beginning of their career and as future managers. Looking at gender differences and gender issues leads to interesting findings which can be used for further research and discussions at ESB Business School. By contrasting the outcomes of the alumni survey with outcomes of the student survey, significant differences between the awareness of students and the reality of the graduates concerning gender diversity issues were discovered. The disclosed gap between students’ expectations and the real-life situations of the alumni indicates further areas for discussion. One major question is how students can cope with these challenges and issues of gender diversity management in future management positions as (female) managers while taking corporate social responsibility into consideration.