Search results

Selecting and scheduling optimal project portfolio simultaneously is a complex decision-making problem faced by organizations to realize the strategy. However, dynamic synergy relationships among projects complicate this problem. This study aims at constructing a project portfolio selection and scheduling (PPSS) model while quantifying the dynamic synergetic effects to provide decision support for managing PPSS problems.

This study develops a mathematical model for PPSS with the objective of maximal project portfolio benefits (PPBs). To make the results align with the strategy, comprehensive PPBs are divided into financial and non-financial aspects based on the balanced scorecard. Then, synergy benefits evolve dynamically in the time horizon, and system dynamics is employed to quantify them. Lastly, a case example is conducted to verify the applicability of the proposed model.

The proposed model is an applicable model for PPSS while incorporating dynamic synergy. It can help project managers obtain the results that which project should be selected and when it should start while achieving optimal PPBs.

This study complements prior PPSS research in two aspects. First, financial and non-financial PPBs are designed as new criteria for PPSS, making the results follow the strategy. Second, this study illuminates the dynamic characteristic of synergy and quantifies the synergetic effect. The proposed model provides insights into managing a PPSS effectively.

Research on strategic alliances is concerned with two issues: continuation and reconfiguration. Building on prior research that examines the two issues separately, the paper studies them simultaneously. This paper aims to investigate how strategic alliances may exert the synergetic effect between dynamics and stability as well as to discuss the dynamic evolution process and influence factors of strategic alliances.

This paper describes the construction of a two-party evolutionary game model of alliance and partners. The model is used to analyze the evolution process of synergetic mechanism to determine when to terminate and when to continue with a partnership. Further, numerical simulation is used to quantify the results and to gain insight into the effects of various factors on the dynamic evolution of the synergetic mechanism.

This paper reveals several synergetic states of dynamics and stability in the alliances. The results show that synergy states are positively affected by the collaborative innovation benefits, alliance management capability, the intensity of intellectual property protection, liquidated damages and reputation losses, and negatively affected by the absorptive capacity of partners.

The study helps the alliance to achieve long-term development as well as to balance the paradoxical relationship. The results suggest that managers of strategic alliances should focus on building strong and long-term relationships in order to achieve high performance innovations. Managers should also pay close attention to their partners’ behaviors in previous alliances.

This paper provides new insights into the paradoxical relationship in alliance by revealing the evolution of synergetic mechanism between dynamics and stability. The results remind alliances to understand the relationship between dynamics and stability and to notice the influence factors of synergistic effects when they are making decisions.

M&A success and synergies are regularly discussed in the practical literature, but synergies are typically treated as a static concept (how do you get them?) with little discussion of financial bet acquirers create in paying an up-front premium. We describe the importance of investor reactions, the nature of the challenge, and discuss synergies as a process with five rules of the road covering M&A strategy, diligence, culture, leakage, and validation and reporting. Potential acquirers must be better prepared before they commit these major capital investments, involving multiple stakeholders throughout the process of creating the value they are promising with M&A.

We report the important results of our 24-year study on acquirer performance, the persistence of investor reactions, and the role of the acquisition premium to support our position that synergies must be trackable and defendable before and after deal announcement. From our collective author experience of advising on many hundreds of synergy programs over the years, we distilled our experience based on the common lack of understanding of what is required by executives, and when, and what we have seen greatly improve the odds of success in achieving sufficient M&A synergies.

Major findings include: 1. Initial market reactions are good predictors of the future, most deals persist, positive or negative, and there is a big spread of returns between winners and losers with losers paying the highest premiums; 2. Premiums additions to target’s growth value and may require larger performance increases than acquirers expect; 3. Synergies are a dynamic process involving multiple stakeholders from becoming a prepared acquirer in M&A strategy, building an early synergy roadmap during diligence, understanding that culture and change issues launch at announcement and preparation must begin long before, anticipating leakage, and validating and reporting post-close.

Our study is original covering three waves of mergers over 24 years; we formalize the synergy challenge created by paying a premium with respect to the already existing growth expectations for the target; we make clear that ultimately validating synergies begins with M&A strategy and diligence through to the workings of an Integration Management Office, anticipating synergy leakage, and preparing employees for change.

Most companies struggle to meet the dual goals of sustaining competitive advantage and ensuring high resilience during crises. Those that do, research tells, adapt their operational practices along the crisis cycle, combining an effective cost approach at the start of a crisis, while quickly relaunching their investment to grow ahead of competition, just when they learn that the crisis is peaking, and not too late, when the crisis is over. This cycle alignment is possibly the crucial, but not the only, factor for success. We update early research to show that companies succeeding in this dual objective also take a proactive strategy approach of capturing the complementarities between both performance and resilience during a period of high turbulence. This complementarity relies on exploiting dynamic capabilities common to both resilience and performance, and on leveraging the resilience process as a foundation for strategic renewal going forward.

The research relies on case studies, complemented by an original survey sample, collected just after the peak of the covid-19 pandemic, of 4,000 multinational firms spread across 18 industries termed NACE2, a statistical classification of economic activities in the European Community. This study included 10 countries outside the European Community. The sample collects information on five core enterprise capabilities (agility, innovativeness, active ecosystem play and digital/sustainability maturity, flexible work practices) and uses a variety of quantitative techniques to assess that existence and size of synergies captured by firms.

Companies meeting the dual goal of resilience and performance are more than doubling their rate of profit growth relatively to peers, after the peak of the crisis, by leveraging of synergies between performance and resilience.

The topic is essential for management, given the elevated turbulence. This research confirms that resilience and performance are synergistic and helps make companies using each crisis boost performance forward.

This paper delves into cross-border E-business, unraveling its intricate dynamics and forecasting its future trajectory.

This paper projects the prospective market size of cross-border E-business in China for the year 2023 using the GM (1,1) gray forecasting model. Furthermore, to enhance the analysis, the paper attempts to simulate and forecast the size of China’s cross-border E-business sector using the GM (1,3) gray model. This extended model considers not only the historical trends of cross-border E-business but also the growth patterns of GDP and the digital economy.

The forecast indicates a market size of 18,760 to 18,934 billion RMB in 2023, aligning with the consistent growth observed in previous years. This suggests a sustained positive trajectory for cross-border E-business.

Cross-border e-commerce critically shapes China’s global integration and traditional industry development. The research in this paper provides insights beyond statistical trends, contributing to a nuanced understanding of the pivotal role played by cross-border e-commerce in shaping China’s economic future.

In this chapter, the authors explain the value of the KLC approach to building cultural capacity in knowledge-driven organizations. This chapter also explains the importance of coherent multilevel interactions to expose and experience a company culture. The authors reinforce that culture is learned simultaneously, consciously and unconsciously, through all company’s related experiences. The effects of leadership, hierarchy, and maturity on cultural capacity are discussed at the individual, team, and organizational levels. Finally, the chapter provides a step-by-step methodology and sample questions for taking stock of an organization’s cultural capacity.

This paper employs bibliometric analysis to explore transformative trends and emerging research patterns in the intersection of digital technology and tourism. The goal is to provide insights into the evolving landscape, identify key themes, influential authors and prominent journals, contributing to a nuanced understanding of this dynamic field.

This study rigorously employs bibliometric analysis from 2002 to 2023, using Scopus and Web of Science databases, yielding 2,040 Scopus and 1,389 Web of Science documents. After meticulous data selection, 575 articles were refined. Utilising VOSviewer and Biblioshiny, the analyses focus on publication trends, citations, authorship, collaborations and thematic clusters, addressing four research questions.

This bibliometric analysis reveals a significant growth in annual scientific production on digital technology and tourism, peaking at 100 articles in 2023. Key contributors include LAW R., CHUNG N. and KOO C. China leads in research output, and influential journals include “Current Issues in Tourism” and “Information Technology and Tourism.” Noteworthy trends emphasise the centrality of “smart tourism” and the interconnectedness of technology, hospitality and management in shaping future research directions.

Stakeholders should focus on integrating emerging technologies in tourism, emphasising areas with high research activity. Professionals must stay updated on evolving trends, adopt innovative digital solutions and collaborate to navigate the dynamic landscape.

This study pioneers the first bibliometric analysis on digital technology in the tourism industry, providing a unique and comprehensive exploration of the scholarly landscape from 1998 to 2023, shedding light on key contributors, influential journals and emerging trends.

The purpose of this paper is to provide a systematic review of literature on corporate engagement with start-ups (CEWS) by identifying the modes, contexts, antecedents, barriers and outcomes. As an emerging field, CEWS presently has no such review available which will help in building consensus within the field and shape future research directions.

The study followed a two-phased systematic review of literature. Three research databases (i.e. Web of Science, ScienceDirect and SCOPUS) were accessed to gather and conduct the review. Of the total 379 papers retrieved, 63 total relevant papers were studied and analysed. The exhaustive review of literature helped to uncover the contexts, perspectives, antecedents, outcomes and barriers reported across the different modes of CEWS.

The study highlighted the five prominent modes of CEWS favoured by large corporations and start-ups. It found that the large corporations and start-ups associate with one another on the basis of complementarities of activities, resources and motives to pursue their strategic orientations. The engagements also face barriers on the ground, such as incompatibility of goals, power imbalances, cultural differences and weak engagement plans. Most important contexts seen were the high-technology industries in the developed economies like the USA and Europe. It also found that ecosystem creation, accessing innovation and corporate strategy have been preferred as the most productive modes of CEWS in the literature.

This review provides practitioners with a detailed list of the modes and drivers of CEWS. Subsequently, the barriers that need to be managed to successfully execute a specific mode of engagement. This shall enable the practitioners in developing and adopting the best practices while engaging with the start-ups to better facilitate the outcomes of CEWS.

To the best of the authors’ knowledge, there is no systematic literature review available in the domain of CEWS – thus, this study makes an important methodological contribution to the field. By consolidating the fragmented yet growing knowledge on CEWS, the study presents a detailed understanding of what drives and obstructs the engagement between large corporations and start-ups.

The aim of this study is to examine the relationships among hotel employees’ creative self-efficacy, co-creation and new service development moderated by collective efficacy in the context of social exchange theory (SET).

Data were collected by using questionnaire from the frontline employees working in hotels in Pakistan. A total of 220 employees participated in the survey. Structural equation modeling has been used.

Results show that employees’ creative self-efficacy enhances co-creation and helps in new services development. Moreover, collective efficacy moderates the relationship between individual employees’ creative self-efficacy and co-creation.

Hotel managers should focus on building employees' self-efficacy beliefs to enhance their motivation and performance in new service development. Moreover, they should establish platforms for co-creation with customers, involving them in idea generation, feedback and testing, to ensure new services meet customer needs and increase their adoption.

Earlier literature has examined the co-creation and new service development from various perspectives, largely ignoring the social exchange theory. This is the pioneering study that examines these relationships through the lens of social exchange theory. Moreover, most of the literature has analyzed the co-creation separately, i.e. either employees’ co-creation or customers’ co-creation. To understand the phenomenon of co-creation in depth it is believed that co-creation should be analyzed from both these aspects. Therefore, this study examined this phenomenon by including employees’ as well as customers’ co-creation for better understanding. Moreover, the group influence is examined in explaining the new service development through collective efficacy. Therefore, this study is unique in explaining the co-creation and new service development from various angles.

The consideration of the substitution phenomenon in the project portfolio selection problem can improve the robustness of project portfolio selection and help enterprises better achieve their strategic objectives. However, the existence of inter-project risk propagation will have a negative impact on project substitution. This paper proposes a new framework for project portfolio selection and constructs a risk propagation model based on strategic objectives to study the impact of risk propagation on substitution in the project portfolio.

The authors first construct a risk propagation model based on strategic objectives to describe the risk propagation between projects. Then the project substitution phenomenon based on risk propagation is put forward, and the calculation method of substitution loss is given. Finally, a robust project portfolio selection framework based on strategic objectives considering risk propagation is constructed.

The analysis of a case study demonstrates that (1) With the increase of risk intensity, the strategic loss of the same project portfolio increases linearly, and under the same risk intensity, the more projects in the portfolio, the stronger the robustness. (2) Considering risk propagation, the effect of project substitution is significantly weakened, and the strategic loss rate of the project portfolio is significantly increased compared with that of a direct attack.

This study is the first to take the project substitution into account in the project portfolio selection process. Moreover, the authors describe inter-project risk propagation and analyze the impact of risk propagation on the project substitution phenomenon. Finally, the authors extend the evaluation index of robustness. This paper puts forward a new way to solve the problem of project portfolio selection.