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This study aims to conceptually propose and empirically validate a path perspective on the servitization process of manufacturing firms. It identifies a customer and an outcome path to servitization, sheds light on the pivotal role of digital technology usage for both value-creating paths and explores their financial and relational performance outcomes.

The authors use a mixed-method approach, combining a qualitative study with a cross-sectional survey in the USA, the UK and Germany.

Manufacturing firms choose between two generic paths to servitization, a customer and an outcome path. Digital technology usage is equally important for both value-creating paths. Progress on the outcome path has a positive effect on firms’ financial performance, whereas the customer path has an indirect effect only, fully mediated by firms’ relational performance. Customer tenure and customer’s open-mindedness are contingency variables in the digital technology usage – servitization path – firm performance framework.

A path perspective is useful to conceptualize the servitization processes in manufacturing industries. Future research should investigate the sequential choice of servitization paths and explore its drivers and performance outcomes.

To create and claim superior value for their customers, managers can choose between two servitization paths, leading to differential performance outcomes. While digital technology usage is key to progress on both paths, it is particularly effective for newly acquired customers on the customer path. Suppliers should target their value-creating service offerings at open-minded customer firms to reap their full performance potential.

Propose and empirically validate a path-perspective on servitization. Understand the pivotal importance of digital technology usage for both servitization paths.

Many manufacturing firms entrust partners to provide services on their behalf. However, it is not clear whether and when firms can capture the potential value advantages of outsourcing business services. The purpose of this paper is to investigate the effects of different types of business service outsourcing on firm value.

The paper uses event study methodology to estimate the impact of business service outsourcing announcements on abnormal returns of publicly traded manufacturing companies in Europe.

External service outsourcing that directly affects the company’s customers leads to more favorable outcomes than internal service outsourcing. This effect is contingent on the strategic outsourcing intention, the service’s reliance on technology, and the choice of the outsourcing partner.

Findings show that firm value depends critically on the service value it delivers to customers. Future research could explore further contingency variables, and investigate the role of service outsourcing networks and relationships.

The insights of this study help managers to decide why, how, and to whom they should outsource their business services, as well as how to justify their outsourcing decisions, and how to communicate them toward the financial markets.

This research sheds light on the value implications of outsourcing decisions. Two types of business service outsourcing are distinguished, namely, internal and external. Furthermore, the study enhances our understanding of a contingency perspective on service outsourcing decisions.

This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

Manufacturing firms transitioning from product to more service-oriented offerings have scope to enhance value creation for their customers by following an appropriate pathway toward servitization. Digital technologies play a critical part in enabling progression along different pathways but the performance impact can be greater when new customers who are open to novel ideas are targeted.

The briefing saves busy executives, strategists and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

In this paper, we study financial foundations of Austrian business cycle theory (ABCT). By doing this, we (1) clarify ambiguous and controversial concepts like roundaboutness and average period of production, (2) we show that the ABCT has strong financial foundations (consistent with its microeconomic foundations), and (3) we offer examples of how to use the flexibility of this approach to apply ABCT to different contexts and scenarios.

This chapter uses Austrian capital theory to illustrate why empirical work can be elusive in typical Austrian themes. It explores the nature of the problem and different alternative solutions to empirical challenges. This chapter also discusses the Austrian literature’s epistemological approach to empirical work to shed light on the controversial relationship between Austrian theory and empirical testing. Finally, this chapter offers examples of how Austrian and mainstream economics can find a common empirical ground.

During the last years of his life, the mathematician Karl Menger worked on a biography of his father, the economist and founder of the Austrian School of Economics, Carl Menger. The younger Menger never finished the work. While working in the Menger collections at Duke University’s David M. Rubenstein Rare Book and Manuscript Library, we discovered draft chapters of the biography, a valuable source of information given that relatively little is known about Carl Menger’s life nearly a hundred years after his death. The unfinished biography covers Carl Menger’s family background and his life through early 1889. In this chapter, the authors discuss the biography and the most valuable new insights it provides into Carl Menger’s life, including Carl Menger’s family, his childhood, his student years, his time working as a journalist and newspaper editor, his early scientific career, and his relationship with Crown Prince Rudolf.

The purpose of this paper is to explore the development of the Greater Manchester Good Employment Charter – a top-down soft regulation initiative that has been framed as a “movement” to promote good employment across the local area.

The research draws on 24 semi-structured interviews with policy officers, trade unions, employers and civil society actors and various professional and employer bodies who have been involved in the charter since its inception. The interview data are complemented by documentary analysis.

The findings underline the importance of institutional factors such as political access points and the mobilising structures of the state in creating a space for progressive employment policies such as charters to emerge. We also find that the framing of the charter as a mechanism to achieve both social justice and improved productivity allows diverse actors to engage, but at the same time this results in a degree of ambiguity over the normative and substantive reference points for “good employment”.

The article contributes to our understanding of the changing nature of top-down political initiatives that seek to change business practices by engaging a wide range of stakeholders as Allies not adversaries. We argue that while charters are a potentially useful demand side intervention, in the absence of significant workplace or grassroots engagement and without coordinated mechanisms of monitoring and enforcement, their effects on low wage labour markets will be limited.

The unexpected and rapid outbreak of the COVID-19 pandemic increased the vulnerability of forcibly displaced (migrant) women, who were a social group already at risk of health inequities and poorer health outcomes. This study aims to examine the health literacy of forcibly displaced (migrant) women during the COVID-19 pandemic in Germany using a multidimensional health literacy model as a framework.

A grounded theory methodology was implemented including interviews with 33 forcibly displaced (migrant) women from July to September 2021. An experienced female researcher interviewed all forcibly displaced (migrant) women, and apart from one telephone interview, all interviews were conducted in person.

Following data analysis, the category, “Use of health information in the context of the COVID-19 pandemic of forcibly displaced (migrant) women”, was identified as a core category. The findings provide valuable insight into the health literacy of forcibly displaced (migrant) women during the COVID-19 pandemic. Societal and environmental determinants, personal determinants and situational determinants were identified as factors impacting health literacy. Furthermore, health literacy was distinguished as competence to make informed decisions in the health domains “health care” and “disease prevention”.

Although previous research often focuses on the deficits of forcibly displaced (migrants), this study highlights the resources forcibly displaced (migrant) women use to deal with health-related difficulties, especially during a crisis such as the COVID-19 pandemic. Importantly, such resources were available even if the study participants did not speak the language of the immigration country.