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1 – 10 of over 3000Nancy Bocken and Jan Konietzko
To meet their ambitious targets for a circular economy, multinationals need to speed up their innovation efforts. This requires experimentation capability. But it is not clear…
Abstract
Purpose
To meet their ambitious targets for a circular economy, multinationals need to speed up their innovation efforts. This requires experimentation capability. But it is not clear what this capability entails, and how companies can build it. The purpose of this paper is to give companies guidance on how they might develop experimentation capability for the circular economy.
Design/methodology/approach
We conduct in-depth interviews with innovators in frontrunner multinationals, H&M, IKEA and Philips. We use the Gioia method to analyse our data.
Findings
This article identifies novel institutional, strategic, and operational actions that build experimentation capability for a circular economy.
Practical implications
The identified actions help innovation managers experiment and speed up their innovation efforts for a circular economy.
Social implications
To reverse environmental degradation, multinationals need to transform their dominant linear take-make-waste business models. This research provides actions that help them organize this transformation.
Originality/value
This article is based on extensive research with leading multinationals and reveals novel insights on how to innovate for a circular economy.
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Iwan Iwut Tritoasmoro, Udisubakti Ciptomulyono, Wawan Dhewanto and Tatang Akhmad Taufik
This paper aims to investigate the effect of business incubation metrics based on an adaptation of the lean start-up (LS) framework on start-up survival after incubation. This…
Abstract
Purpose
This paper aims to investigate the effect of business incubation metrics based on an adaptation of the lean start-up (LS) framework on start-up survival after incubation. This study also analyzes the obstacles in implementing the LS framework as incubation metrics.
Design/methodology/approach
This study uses mixed methods. Quantitative research using multiple linear regression was applied to the data of 30 start-ups incubated at Bandung Techno Park for the 2014–2017 period and survival tracking data after the incubation. A qualitative approach to complete the explanatory work was conducted through in-depth interviews with 12 respondents, including start-up graduates from the incubation program, program managers and mentors.
Findings
This study confirms that several LS incubation metrics significantly affect start-up sustainability after incubation. In addition, this study also explains several problems in applying the LS discipline that needs attention to increase incubation success.
Research limitations/implications
Research was conducted only at one technology business incubator (TBI) model that focuses on digital start-ups in the emerging ecosystem. Research results can be biased in different situations and ecosystems.
Practical implications
The explanation of the relationship of LS-based incubation metrics to the survival of start-ups, as well as the challenges of their implementation, can be a reference for TBI management to consider and prioritize intervention strategies, thereby improving TBI’s business processes and increasing the success rate of incubated start-ups.
Social implications
The creation of university start-ups and spin-offs has become a key performance indicator mandatory for technology universities in Indonesia. The existence of TBI institutions in universities as channels of technology commercialization is essential. The incubator’s success in creating a new technology-based company will have a significant social impact on the surrounding environment.
Originality/value
Although the LS method is popular in start-up communities and among practitioners, it is rarely used in the incubation process at universities. These results can be considered for university TBIs to explore LS as an incubation management tool to increase the success rate of incubated start-ups.
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Ruslan Prijadi, Adhi Setyo Santoso, Tengku Ezni Balqiah, Hongjoo Jung, Putri Mega Desiana and Permata Wulandari
This research investigates the nature of regulatory-focused effectuation (as the basis of entrepreneurial behavior) in absorptive capacity development for open innovation…
Abstract
Purpose
This research investigates the nature of regulatory-focused effectuation (as the basis of entrepreneurial behavior) in absorptive capacity development for open innovation implementation, the role of crowds or communities management practices in the effectuation-based open innovation process, and open innovation performance as the output of the open innovation process in digital multi-sided platform (MSP) startups context.
Design/methodology/approach
In order to verify the hypothesis, the researcher conducts a quantitative study that is based on a self-administered questionnaire and employs the PLS-SEM approach. The sample comprises of 70 Indonesian digital MSP businesses that have been operational for at least three years and have used open innovation approaches with their audiences, communities or complementors.
Findings
The research findings imply that there is a connection between promotion-focused effectuation and the open innovation process. This connection is particularly strong when it comes to the incorporation of absorptive capacity and crowds or communities management practices. On the other hand, prevention-focused effectuation shows insignificant effect toward open innovation process in digital MSP startups context.
Research limitations/implications
The research findings imply that with limited resources and experiences, young entrepreneurs can still implement open innovation strategy for their digital MSP platform through effectuation principles that leverage the external resources from digital platform ecosystem members.
Practical implications
In digital MSP startups context that perform promotion-based effectuation principles, innovation performance can be achieved by analyzing new insight, transforming the existing activities with the new insight, creating new offering afterward, as well as strengthening crowds or communities management practices through co-creation activities with platform ecosystem members that may lead into new business model.
Originality/value
The originality of this work is to make a contribution to the literature on strategic entrepreneurship by describing the phenomena of the paradox of resource-based theory; adopting open innovation strategy under constrained initial resources and capabilities scenario.
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Muhammad Usman, Wim Vanhaverbeke and Nadine Roijakkers
This study explores how open innovation (OI) can be instrumental for entrepreneurs in sensing and seizing entrepreneurial opportunities in small and medium enterprises (SMEs)…
Abstract
Purpose
This study explores how open innovation (OI) can be instrumental for entrepreneurs in sensing and seizing entrepreneurial opportunities in small and medium enterprises (SMEs). This study also illustrates how OI can help SMEs overcome the liability of smallness.
Design/methodology/approach
This is exploratory research using an inductive, multiple-case study approach. This study capitalizes on five in-depth case studies of European SMEs to explore a phenomenon using replication logic and provide a robust basis for theory building.
Findings
This study presents a holistic view of the OI process in SMEs and illustrates the crucial role of entrepreneurs. The study provides a better understanding of how OI can help entrepreneurs sense and seize entrepreneurial opportunities by envisioning venture ideas and implementing business model innovation through the management of innovation partners.
Originality/value
The study emphasizes two critical roles of entrepreneurs in implementing OI in SMEs. First, the entrepreneur can be the instigator of strategic change, and second, he/she can orchestrate the innovation network. The findings emphasize that OI helps avoid knowledge corridors at the venture idea stage, leading to a (re)structuring of the business model and the emergence of a network of innovation partners, which should be managed hands-on. This study discusses in detail the two crucial roles of entrepreneurs.
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Matthias Pepin, Maripier Tremblay, Luc K. Audebrand and Sonia Chassé
Business model (BM) canvases have been used in educational institutions and business incubators for over a decade to assist students and start-up entrepreneurs in developing their…
Abstract
Purpose
Business model (BM) canvases have been used in educational institutions and business incubators for over a decade to assist students and start-up entrepreneurs in developing their business projects. Given the urgency of tackling sustainability challenges, several tools have emerged to stimulate sustainable business modeling (SBM). However, these tools are often too complex for nonexperts in business modeling or sustainability, and thus insufficiently user-friendly for educational contexts. This study aims to address this pedagogical gap by describing the design process of the responsible business model canvas (RBMC).
Design/methodology/approach
The authors relied on a design science research methodology involving the active participation of end users, entrepreneurship educators, business coaches and external partners. The authors proposed four criteria and ten subcriteria to analyze existing SBM canvases based on their user-friendliness and to design the initial prototype of the RBMC. The RBMC was subsequently tested in various settings, including classroom assignments and business incubation programs, with over 1,000 university students. The tool was refined and assessed throughout the development process, incorporating feedback from focus groups with start-up entrepreneurs.
Findings
Through the development process, the authors created a user-friendly tool to help novice student and start-up entrepreneurs integrate sustainability into their BMs: the RBMC. The canvas consists of 14 building blocks grouped into four areas: consistency (mission, vision, values), desirability (value propositions, customer segments, users and beneficiaries, customer relationships and channels), feasibility (key activities, key resources, key partners and stakeholders and governance) and viability (cost structure, revenues streams, negative impacts and positive impacts).
Research limitations/implications
The research methods and user-friendliness criteria in this study can be applied in other contexts to design tools to support sustainable entrepreneurship education. While the RBMC is currently being used in several educational institutions throughout the world, its impacts in different pedagogical and cultural settings require further validation.
Practical implications
The RBMC is a user-friendly tool to introduce students and start-up entrepreneurs to SBM. It helps raise users’ awareness about sustainability concerns, challenging them to consider issues they might have otherwise overlooked. Some participants even shifted their outlook and were motivated to develop a long-term vision integrating compensatory, mitigative or corrective actions into their BMs.
Originality/value
The RBMC is the outcome of a balanced approach that combines both pragmatic (i.e. user-friendliness) and normative (i.e. sustainability) perspectives. It provides users with a systematic approach for integrating and applying sustainability issues in their business projects.
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Diana Teresa Parra-Sánchez and Leonardo Hernán Talero-Sarmiento
This paper aims to explore the research field of digital transformation in small and medium enterprises (SMEs), considering the importance of SMEs in the economic development of…
Abstract
Purpose
This paper aims to explore the research field of digital transformation in small and medium enterprises (SMEs), considering the importance of SMEs in the economic development of countries.
Design/methodology/approach
Considering the contributions of researchers and the challenges of SMEs to transform their business models, in this paper, the authors conducted a scientometric analysis using CiteSpace that included 448 documents indexed in Scopus.
Findings
The authors appreciated the growth in the number of publications that have studied the digital transformation process in SMEs, showing a niche of researchers interested in the flourishing research topic. Likewise, the authors identified the intention of SMEs to adopt digital technologies such as artificial intelligence, big data, cloud computing, data analytics, electronic commerce and the Internet of Things.
Practical implications
This paper is a valuable resource for academics and researchers in information systems, decision-makers in digital transformation in SMEs and governmental organisations concerned with digital technologies adoption in SMEs to achieve digital transformation and increase competitiveness and productivity.
Originality/value
This study used CiteSpace to conduct a scientometric analysis to explore how researchers have focused on frameworks and maturity models for measuring SME readiness, the impact of Industry 4.0 on SMEs, guides for helping managers evaluate their Industry 4.0 positioning, the development and implementation of digital business strategies for SMEs, the presentation of cases of SMEs that have driven digital transformation and future research opportunities.
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Blendi Gerdoçi, Nertila Busho, Daniela Lena and Marco Cucculelli
This paper explores the relationships between firm absorptive capacity, novel business model design (NBMD), product differentiation strategy and performance in a transition…
Abstract
Purpose
This paper explores the relationships between firm absorptive capacity, novel business model design (NBMD), product differentiation strategy and performance in a transition economy.
Design/methodology/approach
The study uses structural equation modeling (SEM) to analyze firm-level data from a unique sample of Albanian manufacturing and service firms.
Findings
The study shows that absorptive capacity enables and shapes the NBMD that, in turn, leads to performance gains. The authors also find that the NBMD capacity mediates the impact of realized absorptive capacity on performance, whereas product differentiation strategy moderates the relationship between new business model and performance.
Research limitations/implications
All variables were measured based on a self-assessed scale leading to potential method bias. Also, based on relevant literature, the study focuses on only one type of business model (BM) design.
Practical implications
Since dynamic capabilities are the foundation of NBMD, firms should invest carefully in developing such capabilities. Thus, the study results provide an integrative framework for understanding the role of absorptive capacity in NBMD adoption and for explaining the relationship between NBMD adoption and performance, an aspect that helps organizations in a dynamic environment.
Originality/value
This study strives to investigate the relationships between absorptive capacity, business model design, product strategies and performance by answering the call of Teece (2018) to “flesh out the details” of such relationships.
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Thien Le, Thanh Ho, Van-Ho Nguyen and Hoanh-Su Le
This study aims to use the voice of the customer (VoC) strategy to collect user-generated content (UGC) compare customer expectations with reality, make the necessary improvements…
Abstract
Purpose
This study aims to use the voice of the customer (VoC) strategy to collect user-generated content (UGC) compare customer expectations with reality, make the necessary improvements for the business and create personalized strategies for each customer to maximize revenue, focus on hospitality industry in Vietnam market.
Design/methodology/approach
This study proposes a synthesis of techniques for a deep understanding of the VoC based on online reviews in the hospitality industry. First, 409,054 comments were collected from websites in the hospitality sector. Second, the data will be organized, stored, cleaned, analyzed and evaluated. Next, research using business intelligence (BI) solutions integrating three models, including net promoter score (NPS), graph model and latent Dirichlet allocation (LDA), based on natural language processing (NLP) technique, experiment on Vietnamese and English data to explore the multidimensional voice of customer’s row. Finally, a dashboard system will be implemented to visualize analysis results and recommendations on marketing strategies to improve product and service quality.
Findings
Experimental results allow analysts and managers to “listen to the customer’s voice” accurately and effectively, identify relationships between entities, topics of discussion in favor of positive and negative trends.
Originality/value
The novelty in this study is the integration of three models, including NPS, graph model and LDA. These models are combined based on the BI solution and NLP technique. The study also conducted experiments on both Vietnamese and English languages, which ensures more effective practical application.
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Achilleas Vassilopoulos, Lydia Papadaki and Phoebe Koundouri
Storytelling through virtual reality (VR) combines the strengths of cutting-edge technology with traditional informational campaigns. As a tool for climate change mitigation, VR…
Abstract
Purpose
Storytelling through virtual reality (VR) combines the strengths of cutting-edge technology with traditional informational campaigns. As a tool for climate change mitigation, VR has been shown to educate individuals and stimulate both emotional and cognitive responses that promote pro-environmental behavior. This paper aims to investigate whether these benefits extend to the field of green investing through an experiment conducted with a sample of small business entrepreneurs.
Design/methodology/approach
The experimental design involved making choices between bonds varying in maturity dates, annual interest and environmental classification (regular versus green). To identify potential impacts of the immersive experience on investment decisions, these choices were made both before and after exposure to VR videos illustrating the devastating effects of climate change. A multiple price list was employed to elicit subjects' risk preferences, enabling the joint estimation of the treatment effect and the risk and time preference parameters.
Findings
The findings indicate that, when risk and time preference parameters are controlled for, a VR experience can nudge toward green investment choices. This effect is more profound among those who already exhibit a greater propensity to opt for green investments.
Originality/value
Previous research shows that negative emotions, such as guilt, affect pro-environmental intentions, as well as actions, while message vividness through immersive experiences is effective in nudging greener behavior. Since analogous results in the framework of financial investments are not currently available, this paper seeks to test whether VR videos depicting the adverse effects of climate change can generate negative emotions associated with experiencing these effects and make them salient in subsequent investment decisions made by small business entrepreneurs.
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Lina Gozali, Teuku Yuri M. Zagloel, Togar Mangihut Simatupang, Wahyudi Sutopo, Aldy Gunawan, Yun-Chia Liang, Bernardo Nugroho Yahya, Jose Arturo Garza-Reyes, Agustinus Purna Irawan and Yuliani Suseno
This research studies the development of the evolving dynamic system model and explores the important elements or factors and what detailed attributes are the main influences…
Abstract
Purpose
This research studies the development of the evolving dynamic system model and explores the important elements or factors and what detailed attributes are the main influences model in achieving the success of a business, industry and management. It also identifies the real and major differences between static and dynamic business management models and the detailed factors that influence them. Later, this research investigates the benefits/advantages and limitations/disadvantages of some research studies. The studies conducted in this research put more emphasis on the capabilities of system dynamics (SD) in modeling and the ability to measure, analyse and capture problems in business, industry, manufacturing etc.
Design/methodology/approach
The research presented in this work is a qualitative research based on a literature review. Publicly available research publications and reports have been used to create a research foundation, identify the research gaps and develop new analyses from the comparative studies. As the literature review progressed, the scope of the literature search was further narrowed down to the development of SD models. Often, references to certain selected literature have been examined to find other relevant literature. To do so, a supporting tool (that connects related articles) provided by Google Scholar, Scopus, and particular journals has been used.
Findings
The dynamic business and management model is very different from the static business model in complexity, formality, flexibility, capturing, relationships, advantages, innovation model, new goals, updated information, perspective and problem-solving abilities. The initial approach of a static system was applied in the canvas business model, but further developments can be continued with a dynamic system approach.
Research limitations/implications
Based on this study, which shows that businesses are developing more towards digitalisation, wanting the ability to keep up with the era that is moving so fast and the desire to increase profits, an instrument is needed that can help describe the difficulties of the needs and developments of the future world. This instrument, or tool of SD, is also expected to assist in drawing future models and in building a business with complex variables that can be predicted from the beginning.
Practical implications
This study will contribute to the SD study for many business incubator research studies. Many practical in business incubator management to have a benefit how to achieve the business performance management (BPM) in SD review.
Originality/value
The significant differences between static and dynamics to be used for business research and strategic performance management. This comparative study analyses some SD models from many authors worldwide. Their goals behind their strategic business models and encounter for their respective progress.
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