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This study aims to investigate three relevant antecedents of digital transformation (digital orientation, digital intensity and digital maturity) and their influences on the financial success of companies.

Building on the strategic management and digital transformation literature, five hypotheses are developed to find the relationships between these antecedents and financial success.

Digital orientation and digital intensity alone do not contribute to the financial success of companies. Specifically, digital intensity serves as a negative moderator between digital orientation and financial success, meaning that it reduces the performance effects of digital orientation. Digital maturity acts as a mediator between digital orientation and the financial success of companies and between digital intensity and the financial success of companies.

This research contributes to the literature on strategic management and digital transformation by providing a further understanding of three relevant antecedents of digital transformation (digital orientation, digital intensity and digital maturity) and how they should be positioned alongside digital transformation settings to achieve financial success.

The purpose of this paper is to study the impact of lead users (LUs) on innovation success by proposing and validating an integrative model that links LUs, innovation success and knowledge sharing (KS) variables.

The authors research is quantitative in nature and data were collected through a survey conducted among 30 information technology Tunisian companies. The authors preliminary analysis was explored using the “SPSS” software and processed through exploratory factor analysis and regression analysis methods.

Results showed that LUs who possess advanced skills and valuable knowledge can contribute to enhance new successful innovations, and hence, enable companies to gain short and long-term profits. Besides, the authors confirmed that the impact of LUs on innovation success is mediated by the “KS” behavior.

An integrative framework that links LUs, innovation success and a third variable called KS is presented to see beyond the intended importance of this type of user regarding the development of new innovations.

The paper offers new insights to the topic of LUs by emphasizing the role of “KS” variable in strengthening the LUs – innovation success relationship.

This chapter presents the current research status of family constitutions from an economics perspective. It locates the family constitution as part of the family and business governance structure of a family firm and the owner family. The typical structure and content of a family constitution are introduced. The chapter focuses on the status of research about family constitutions and provides a structured map for future research. With regard to extant research, it must be stated that the stock of literature is small. The contributions to literature are categorized in surveys; conceptual contributions; survey data; small sample, qualitative, empirical studies; and big sample, quantitative, empirical studies. The latter group includes three studies with a separate family constitution variable. This small number symbolizes that the family constitution still is an under-researched area. Therefore, family constitution research is far away from being able to answer central questions of advice-seeking owner families like, for example, whether a family constitution affects family performance, firm performance, or both; or whether the development process of a family constitutions disposes of an effect on family or firm performance separately from the hypothesized effect of the family constitution document.

This study aims to explore Accelerators and their practices in sustaining start-ups within their innovative programs for these companies based on the resource-based perspective. Moreover, with an ever-increasing demand for Accelerators amongst start-up companies, this study also demonstrates the importance of Accelerators, as it pertains to new venture creation.

This research uses an exploratory case study approach to examine a comparative view of leading Accelerator companies in the USA and Korea based on resource support.

The results of this study show that there are a number of differences between Accelerators of the two countries in terms of the resources they support for early-stage start-ups. The findings also show some similarities. However, in Korea, the Accelerator landscape is limited, where mentorship, resources and investments are not readily accessible, resulting in low success rates for Korean start-up companies. These limitations have had a negative trickle-down effect when providing entrepreneurs with strong access to resources and investors, which highly affects the success rates of early-stage start-ups.

In terms of the resource-based theory, this study contributes to the growth of early start-ups by emphasizing the role of the accelerator and suggesting the extent and impact that entrepreneurs have access to resources and investors.

With significant growth in start-ups around the world, the necessity for start-up funding and mentorship has increased drastically. Start-up companies need various types of assets, systems, knowledge and information to achieve their goals. In Accelerators, start-ups receive all the aforementioned resources while also improving their entrepreneurial skills. Start-up companies have many options in seeking investors who support both tangible and intangible resources to boost growth. While there is a wealth of information on traditional funding methods, there are few studies that shed light on the role of Accelerators from the resource-based point of view.

Family firms (FF) reveal a considerable heterogeneity in their innovation behavior. Due to the successful long-term preservation of their innovation capacity via special resources and routines, multi-generational FF are of special interest in terms of learning from good practices. Against this background, the purpose of this paper is to ascertain principles for successful innovation behavior in long-term successful FF and to contribute to bridging the theory-practice gap.

Results are generated by analyzing innovation and innovation processes in five cases of long-term successful FF. On the basis of these good practice cases, the “rules of the game” of innovating are re-constructed using fine and system analyses based on narrative interviews with the FF CEOs.

Intense reflection on the innovation characteristics of the five good practice cases along with a critical examination of the literature on innovation in FF were used to derive practical suggestions for FF in the form of 11 principles for FF taking a proactive interest in innovation.

The 11 generated principles of successfully innovative FF were validated by FF CEOs who confirmed the practical relevance of these principles as valuable guidelines for successful innovation. Owners and managers may reflect on these principles against the background of the innovation behavior of their firms and adapt them to their contextual conditions.

These principles serve as tangible suggestions for developing adequate innovation management strategies for individual FF. Furthermore, two FF CEOs were invited to comment on the viability of principles based on their comprehensive practical experience.

This paper studies the impact of certain characteristics of companies to training programs in the Industry 4.0 (I4.0) context. Partial objective is to rank the main human barriers companies have to overcome so that they can digitalize.

To accomplish the objectives, a closed-ended questionnaire was sent to Slovak and Italian companies and analyzed using statistical nonparametric tests. The partial objective was achieved using the so-called Henry-Garrett’s ranking method.

Results show the significance impact of companies’ characteristics such as foreign participation and company dimension on training practices whereas economic situation (financial health) seems not to influence it.

The study may lack generalizability as only 102 answers were collected. Perhaps, the outcome would be different with another sample from other countries. Moreover, using closed-ended questions, certain features may not have been covered.

Companies should always guarantee training for the resulted benefits. It is fundamental for organizations to find a time gap, resources and professionals who can teach these programs. Even when companies are incurring financial problems they should do so since human capital development can increase their competitiveness. The most critical barriers should be carefully addressed by companies. Training can help to overcome I4.0 barriers related to Human Resources (HR) and contribute to its growth.

This paper gives insights of the impact of certain characteristics of companies to the training programs. Because past research has limited their analysis on the identification of barrier, its novelty lies in the attempt to rank the most significant barriers among those detected by other authors in previous research.

This study aims to discuss what prompted this organization to embark on the journey of transformational change, challenges faced strategies adopted to overcome challenges, leadership role and outcomes.

The descriptive approach is used to comprehend the transformational change process in this gigantic public sector undertaking (PSU). To have an idea of the effectiveness of the change process, the pre- and post-change performance of the company was taken into account through collection and analysis of physical and financial parameters. However, focus of this paper is concentrated on the transformation process and its chronological sequence only. Human resource productivity trend and organization development interventions adopted over the years were also observed along with conducting a sentiment analysis of the employees who lived through this entire change process in the organization.

The case study describes how this Indian PSU went through the process of transformational change management and leaves the reader to assess the degree and extent of success of the approach and strategy of the company in this regard. There may be many what-if situations and contingencies in this case for readers to explore for suggestions and solutions and finding new possibilities.

Change management is not a new exercise for the Indian corporate sector. What makes this case unique is the pro-active action initiated by a traditional high-performing and well-protected PSU to anticipate the future challenges and initiate action to overcome these. Change agents must “rewire” the plane while it is flying if the organization hopes to survive and perhaps prosper in the future. This case study is a first-hand account of the change process happening in a gigantic Indian PSU with Maharatna status.

The purpose of this paper is to explore how sustainability reporting is shaped by the global influences and particular national context where businesses operate.

The paper uses both content analysis of published sustainability information and semi-structured interviews with corporate managers to explore how sustainability reporting is used to address unique social and environmental challenges in a developing country – Sri Lanka. The use of integrative social contracts theory in investigating sustainability reporting offers novel insights into understanding the drivers for sustainability reporting practices in this particular country.

The findings reveal that managers’ perceptions about usefulness of sustainability reporting, local contextual challenges and global norms influence the extent to which companies engage in sustainability reporting and the nature of sustainability information reported. In particular, Sri Lankan company managers strive to undertake sustainability projects that are beneficial not only to their companies but also to the development of the country. However, while company managers in Sri Lanka are keen to undertake sustainability reporting, they face different tensions/expectations between global expectations and local contextual factors when undertaking sustainability projects and reporting. This is also showcased in what is ultimately reported in company annual reports, where some aspects of sustainability, e.g. social, tend to focus more on addressing local concerns whereas other disclosures are on issues that may be relevant across many contexts.

Important insights for government and other regulatory authorities can be drawn from the findings of this study. By capitalising on the strong sense of moral duty felt by company managers, policymakers can involve the business sector more to mitigate the social and environmental issues prevalent in Sri Lanka. The findings can also be used by other developing countries to enable pathways to engage with the corporate sector to contribute to national development agendas through their sustainability initiatives and projects.

While the usual understanding of developing country’s company managers is that they try to follow global trends, in Sri Lanka, this research shows how managers are trying to align their responsibilities at a national level with global principles regarding sustainability reporting. Therefore, this paper highlights how both hypernorms and microsocial rules can interact to define how company managers undertake sustainability reporting in a developing country.

Managers must make numerous strategic decisions in order to initiate and implement a business model innovation (BMI). This paper examines how managers perceive the management team interacts when making BMI decisions. The paper also investigates how group biases and board members’ risk willingness affect this process.

Empirical data were collected through 26 in-depth interviews with German managing directors from 13 companies in four industries (mobility, manufacturing, healthcare and energy) to explore three research questions: (1) What group effects are prevalent in BMI group decision-making? (2) What are the key characteristics of BMI group decisions? And (3) what are the potential relationships between BMI group decision-making and managers' risk willingness? A thematic analysis based on Gioia's guidelines was conducted to identify themes in the comprehensive dataset.

First, the results show four typical group biases in BMI group decisions: Groupthink, social influence, hidden profile and group polarization. Findings show that the hidden profile paradigm and groupthink theory are essential in the context of BMI decisions. Second, we developed a BMI decision matrix, including the following key characteristics of BMI group decision-making managerial cohesion, conflict readiness and information- and emotion-based decision behavior. Third, in contrast to previous literature, we found that individual risk aversion can improve the quality of BMI decisions.

This paper provides managers with an opportunity to become aware of group biases that may impede their strategic BMI decisions. Specifically, it points out that managers should consider the key cognitive constraints due to their interactions when making BMI decisions. This work also highlights the importance of risk-averse decision-makers on boards.

This qualitative study contributes to the literature on decision-making by revealing key cognitive group biases in strategic decision-making. This study also enriches the behavioral science research stream of the BMI literature by attributing a critical influence on the quality of BMI decisions to managers' group interactions. In addition, this article provides new perspectives on managers' risk aversion in strategic decision-making.

Food supply chains are facing significant changes and challenges coming from the need to adopt inclusive business practices and foster sustainable development. The current research aims to provide insights related to the inclusiveness of sustainable business practices of a dairy production co-operative where the smallholders are engaging with a traditional business mind-set. The purpose of the research is to deliver insights about the linkages between accounting and business practices in the adoption of an inclusive business model.

This research is based on the qualitative case study of a medium-sized production cooperative company operating in the dairy industry supply chain.

This study answers the call for research on accounting and control systems in the food sector, by exploring how management and control system is practised within contemporary supply chains. The research aims to analyse the contextual insights of managerial and organizational practices that facilitate inter-organizational relationships and coordination among actors that engage along the supply chain.

The main limitation relates to the conditions of the time available and the limited number of interviews. Even if key actors were interviewed, a larger sample would have been more beneficial to the research. However, the lack of proper results for accounting tools and software access caused some loss to the research.

This paper emphasizes the effects of the “inclusiveness” of the sustainable business models between suppliers and leading companies by enhancing the sustainable business development within the supply chain, as part of a wider business model in the food sector from an inter-organizational perspective.