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This paper aims to identify potential barriers to Industry 4.0 adoption for manufacturers and examine the changes that must be made to production processes to implement Industry 4.0 successfully. It aims to develop technology by assisting with the successful implementation of Industry 4.0 in the manufacturing process by using smart system techniques.

Multiple case studies are used in this paper by using the smart system and Matlab, and semi-structured interviews are used to collect qualitative data.

Standardization, management support, skills, and costs have been cited as challenges for most businesses. Most businesses struggle with data interoperability. Complexity, information security, scalability, and network externalities provide challenges for some businesses. Environmental concerns are less likely to affect businesses with higher degrees of maturity. Additionally, it enables the Technical Director’s expertise to participate in the measurement using ambiguous input and output using language phrases. The outcomes of the numerous tests conducted on the approaches are extensively studied in the provided method.

In this research, a multiple-case study aims to carry out a thorough investigation of the issue in its actual setting.

The transition to a circular economy (CE) is a known concern in the context of the textile industry, in which business actors attempt to facilitate circular activities such as textile recycling. However, a lack of established business relationships and networks creates uncertainty for textile circulation. In such business environments, managerial decisions regarding CE may depend not only on normative behaviour but also on heuristics that guide their choices. Since business relationships for textile circularity require interactions between business actors, this study explores how managerial heuristics are shaped in the CE transition within the textile industry and their impact on actors’ interactions within business relationships and networks.

Empirically, this qualitative study is based on interviews with managers representing companies and organisations engaged in business relationships and networks aimed at a CE transition in the textile industry, as well as on publicly available secondary data.

The findings indicate that managerial decisions promoting circularity can be influenced by, besides normative information assessment, factors predominant in (1) the business and regulatory environment, (2) managers’ experience and knowledge obtained during interactions within business networks and (3) the internal strategic approaches of business organisations. This study identifies adaptation, experience, interaction and strategy heuristics that may be utilised by managers in making decisions in the context of uncertainty, such as the industrial transition to a CE.

This study expands the knowledge of heuristics applied to managerial decision making in interacting business firms and institutional organisations aiming to facilitate textile recycling and proposes a heuristics toolbox. The study provides an insight into business actors’ interactions, as well as various factors inside and outside the organisations shaping the managerial decisions. By doing this, the study adds to the literature, highlighting the importance of contextualisation and the interrelation between the individual and business environment levels in business-to-business management.

Examining synergies between Lean, Industry 4.0, and Industry 5.0 principles, the aim is to showcase how Lean's focus on people enhances Industry 5.0 implementations, leading to the development of the Lean 5.0 paradigm. In addition, insights from artisanal industries, like the fashion one, are specifically collected.

First, a literature review was conducted to define a comprehensive framework to understand how Lean fits into the Human-Centric (HC) paradigm of Industry 5.0. Second, a case study was employed to give empirical insights and identify practical initiatives that brands can pursue, involving two best-in-class leather goods brands located in Italy.

A conceptual framework to pave the way for new paradigm Lean 5.0 was defined and validated through a case study. To path the way for a case study in the fashion industry, the Lean HC paradigm is detailed into domains and related categories to group practices. The empirical insights demonstrate that Lean HC actions can be effectively supported by Industry 4.0 technologies in traditional sectors like the fashion industry, shifting towards Industry 5.0.

The proposed framework and related practices can be used by companies to facilitate their transition towards Industry 5.0, leveraging on Lean Manufacturing.

The innovative contribution of the present work mainly refers to the proposed conceptual framework, encompassing Lean, HC and Industry 4.0 and introducing Lean 5.0 paradigm. The case study enriches the empirical contributions in the fashion industry.

The current paper aims to discuss the implementation of Green Lean Six Sigma (GLSS) in the food industry to improve sustainable practices. The focus is more specifically on dairy processors to ascertain the current state of the literature and aid future research direction.

Utilising a systematic literature review (SLR), the paper addresses various terms and different written forms in the literature. The study characterises the current deployment of GLSS in the food industry and explains the reported benefits of this approach.

GLSS, a concept that has yet to be fully explored in the food industry, as in other sectors, holds significant potential to enhance the food industry’s sustainability practices. The dairy sector, a subsector of the food industry known for its high greenhouse gas emissions, is a prime candidate for the application of GLSS. In instances where it has been applied, GLSS has demonstrated its effectiveness in improving sustainability, reducing waste, lowering greenhouse gas emissions and minimising water usage. However, the specific tools used and the model for GLSS implementation are areas that require further study, as they have the potential to revolutionise food industry operations and reduce their environmental impacts.

Benchmarking of this research by the food industry sector and by academics can aid understanding of the practical application of GLSS tools and aid implementation of these practices to evolve the dairy processing sector in the next decade as sustainability champions in the sector.

This study extensively analyses GLSS in the food industry, with a particular focus on dairy processors.

This study offers practical insights into how generative artificial intelligence (AI) can enhance responsible manufacturing within the context of Industry 5.0. It explores how manufacturers can strategically maximize the potential benefits of generative AI through a synergistic approach.

The study developed a strategic roadmap by employing a mixed qualitative-quantitative research method involving case studies, interviews and interpretive structural modeling (ISM). This roadmap visualizes and elucidates the mechanisms through which generative AI can contribute to advancing the sustainability goals of Industry 5.0.

Generative AI has demonstrated the capability to promote various sustainability objectives within Industry 5.0 through ten distinct functions. These multifaceted functions address multiple facets of manufacturing, ranging from providing data-driven production insights to enhancing the resilience of manufacturing operations.

While each identified generative AI function independently contributes to responsible manufacturing under Industry 5.0, leveraging them individually is a viable strategy. However, they synergistically enhance each other when systematically employed in a specific order. Manufacturers are advised to strategically leverage these functions, drawing on their complementarities to maximize their benefits.

This study pioneers by providing early practical insights into how generative AI enhances the sustainability performance of manufacturers within the Industry 5.0 framework. The proposed strategic roadmap suggests prioritization orders, guiding manufacturers in decision-making processes regarding where and for what purpose to integrate generative AI.

Project management is an essential skill in the hospitality organization that is only becoming more important (Tereso et al., 2019). Bridging the gap between academia and industry is achievable by experiential learning or providing students with curriculum that gives them hands-on access to real-world industry research projects that attempt to solve real-world industry issues (Steed and Schwer, 2003). The purpose of this paper is to understand the scope of project management curriculum in universities’ hospitality programs, to understand the scope of project management skill requirements in hospitality firms and to narrow the disconnect between project management in academia and in hospitality firms.

The study used a mixed method approach. On the side of academia, a quantitative collection method was used to gage which universities offered a project management course, how many universities offer these courses and how many project management courses each university had. On the side of industry, a survey was administered to industry professionals in senior management positions. It was a quantitative survey designed to gage the importance of having project management as part of university curriculum. The aim was to show what was expected to be a disconnect between the two sides – academia and industry. A total of 57 responses were collected. Out of them 49 were usable. The Human Subjects consisted solely of two populations: individuals who worked in the hospitality industry. This accounted for 12 of the responses; individuals who worked in academia – more specifically in higher education at schools that offer Hospitality Management curriculum. This accounted for 37 of the responses. The subjects were identified and recruited through the professional networking site LinkedIn (for subjects that were industry professionals) and through both LinkedIn and American Hotel Lodging and Educational Institute databases for the subjects in academia. There were no direct potential benefits to the subject. The potential societal benefits of the study were the advancement of knowledge within the disciplines of both Hospitality Management and Project Management. The authors used the University of Memphis’ Qualtrics system and changed settings to anonymize responses so IP addresses would not be collected. The Qualtrics’ default is to collect IP addresses and GPS coordinates of those who responded. By setting the survey to anonymized responses the investigators were not able to collect this identifiable information. This information was included in the confidentiality, methods/procedures and in any other necessary sections/documents noting that the investigators would set Qualtrics to anonymize responses.

H1 was supported. The findings showed that most colleges and universities did not require project management classes for degree completion. Preliminary research showed that of 68 of the top hospitality programs in the world that were researched, only 7.5 percent required taking project management centric courses in order to graduate (College Choice, 2019; The Best Schools, 2019; Top Universities, 2018). In total, 43.2 percent of respondents answered “yes” when asked if their school offers courses in project management based on this definition of project management: “A project is temporary in that it has a defined beginning and end in time, and therefore the defined scope and resources. And a project is unique in that it is not a routine operation, but a specific set of operations designed to accomplish a singular goal. A project team often includes people who do not usually work together – sometimes from different organizations and across multiple geographies. Project management, then, is the application of knowledge, skills, tools, and techniques to project activities to meet the project requirement” (Project Management Institute) (See Table A1). Of 43.2 percent that answered yes, 64.3 percent said that the courses were required for graduation (See Table AII). Meaning, only 27.8 percent of schools surveyed offered and required completing project management courses for graduation. It should be noted that this number may be lower as bias may have played a factor. It is evident that hospitality programs understand the importance of project management because 85.7 percent of the colleges and universities surveyed are teaching project management concepts in courses that are not project management centric, like Meeting and Event Planning (See Table AIII). H2 was supported. Only 9.1 percent of respondents believed that project management skills are not at all important to line level employees. Most, 54.6 percent, believed that project management skills are important to some extent for line level employees. In total, 9.1 percent believed that project management skills are not at all important for supervisory level employees; 27.3 percent believed they are needed to some extent and 36.4 percent believed they are needed to a moderate extent. As for management level employees, it was found that 63.6 percent believed project management skills were needed to a great extent. For director level employees, 63.6 percent believed project management skills are necessary. Finally, 72.7 percent of respondents believed project management skills are necessary for both VP level employees and executive leadership (See Table AIV). It should be noted that one person did not believe themselves qualified to answer questions regarding project management within their organization. More than half of respondents said that project management skills are used to a great extent within their organization. H3 was not supported. Both hospitality schools and hospitality companies agreed that project management skills have some level of importance in academia and in industry – most believed the skills were very important at both junctions (See Tables AV and AVI). However, in the preliminary research the authors found that 55 percent of the top 111 hospitality companies had project management positions, meaning that there was a potential need for project management courses in colleges and universities (Ranker, 2019). As stated earlier, only 7.5 percent of the top 68 colleges and universities required project management courses to be completed upon graduation. So, the discrepancy lies within the vastly different percentages between project management positions within companies and project management courses within schools.

The data provided strong evidence that supported the idea that project management is not required in hospitality programs upon completion. This opens new avenues to research the reasons behind schools not offering project management courses or making it a requirement for degree completion. On the other hand, project management skills are considered to be needed by hospitality managers. This provides valuable information for future studies that look to close the gap between academia and industry. The results indicated that project management is important for hospitality companies and schools, but the lack of project management education in colleges and universities is evident. The results of this study provided good news to students that aim to work in hospitality companies, since they can improve their project management skills and encourage their programs to stay updated with the industry needs so that they can succeed in their professional lives. Though this was an exploratory study of the project management discipline within the hospitality industry – with a limited sample size – the data clearly justified that there is room for additional data collection and research in this area of study.

The results show that there is a disconnect between project management curriculum in schools and project management skill demand in the hospitality industry. The research should encourage schools to invest appropriate resources into required project management curriculum. The hospitality industry is vast in the types of businesses that fall under it. Project management is one skill set that can be useful across most of the different businesses in the hospitality industry. From a practical standpoint, providing students with a solid background in the project management discipline provides them an advantage in the highly competitive hospitality industry. It accomplishes this by providing the students with in-demand knowledge and competencies that are both universally accepted and highly regarded by hospitality management companies as a skill set that is widely used in the industry.

There were limitations to this study. Some pieces may be improved in future research. The Qualtrics survey could have been reduced in number and order of questions for a better interaction and results. The use of the Qualtrics database might be helpful to reach a bigger population. Potential steps could be taken to reduce bias that may play a factor in the responses. For example, some respondents may have claimed that their schools offer project management curriculum when in fact they do not, or they do not know to what extent.

Project management is an essential skill in the hospitality organization that is only becoming more important (Tereso et al., 2019). Bridging the gap between academia and industry is achievable through experiential learning or providing students with curriculum that gives them hands-on access to real-world industry research projects that attempt to solve real-world industry issues (Steed and Schwer, 2003). Most graduate level curriculum at universities was found to hone skills like written and oral communications, problem solving and decision making, organization, time management and cost control (Steed and Schwer, 2003). It has been suggested that universities add project management curriculum and experiential learning to their programs for a more streamlined transition from academia to industry (Steed and Schwer, 2003). Existing research on this subject is a bit dated, so the objectives were: to understand the scope of project management curriculum in universities’ hospitality programs; to understand the scope of project management skill requirements in hospitality firms; to narrow the disconnect between project management in academia and in hospitality firms.

The proliferation of industry platforms has disrupted several industries. Firms adopting a platform business model have experienced a substantial expansion in size and scale, positioning themselves as the foremost valuable entities in market capitalization. Over the past two decades, there has been a substantial expansion in the body of literature dedicated to platforms, and different streams of research have emerged. Despite considerable efforts and the significant progress made in recent years toward a comprehensive understanding of industry platforms, there is still room for further harnessing the field’s diversity. As a result, the aim of this article is to examine the field’s structure, identify research concerns and provide suggestions for future research, thereby enhancing the overall understanding of industry platforms.

We conducted a thorough examination of 458 articles on the topic using bibliometric methods and systematic review techniques.

Through co-citation analysis, we identified five distinct clusters rooted in various bodies of literature: two-sided markets, industry platforms, digital platforms, innovation platforms and two-sided networks. Furthermore, the examination of these five clusters has revealed three key areas that demand further consideration: (1) terminologies, (2) classifications and (3) perspectives.

While previous reviews have provided valuable insights into the topic of industry platforms, none have explored the structure of the field so far. Consequently, as a first step toward advancing the field, we uncover the structure of the literature, identifying three major areas of concern. By addressing these concerns, our goal is to converge different clusters, thereby harnessing the diversity in the field and enhancing the overall understanding of industry platforms.

The ranking of universities and other research-intensive institutions in global ranking systems is based on numerous indicators, including number of articles with external collaboration, number of articles with international collaboration, number of articles with industry collaboration as well as co-patents with industry. The purpose of this paper is to examine university–industry research collaboration in Ghana, with the aim of exploring the relationship between the research output collaborations in the top four universities in Ghana and industry across different geographical scales.

This study’s data was obtained from the SciVal database, which drawn its data from the Scopus bibliographic and citation database. The bibliographic and citation data were extracted using a search of the publications affiliated to the University of Ghana, for the period 2011–2020.

Key findings demonstrate a constant rise in the number of research publications by the selected universities over time. Research collaboration intensity in the selected universities in terms of co-authored publications was higher as compared to single-authored publications. University–industry research co-authorships were, however, lower when compared to university–university research co-authorships. The university–industry research co-authorships occurred mostly with Europe, Asia-Pacific and North American-based institutions as opposed to African-based institutions. In Ghana, four industry-based institutions were engaged in intensive research with the selected universities.

This study demonstrates that, for each selected university, it is possible to measure the performance of individual universities in both intra-regional and international collaboration. Such results may be useful in informing policy as well as merit-based public funding of universities in Ghana.

Management and risk techniques within industries have been studied from various disciplines in nondefense-affiliated industries. Given the assumption that these techniques, strategies and mitigations used in one industry apply to other similar industries, this paper examines the defense industry for risk assessment. We characterize interactions for onward application to risk identification in the defense industry.

This research employs a systems theory approach to the characterization of industry interactions, using three dimensions including environment, boundaries and relationships. It develops a framework for identifying relationship types within system-of-systems (SoS) environments by analyzing the features of interactions that occur in such environments.

The study’s findings show that different systems environments within the defense industry SoS exhibit different interaction characteristics and hence display different relationship patterns, which can indicate potential vulnerabilities.

By employing interaction as a means for evaluating potential risks, this research emphasizes the role played by relationship factors in reducing perceived risks and simultaneously increasing trust.

This paper intends to develop an initial snapshot of the relationship status of the Swedish defense industry in light of the global consolidation in this industry, which is a relevant contextual contribution.

Surprisingly little is known of the various methods of security analysis used by financial analysts with industry-specific knowledge. Financial analysts’ industry knowledge is a favored and appreciated attribute by fund managers and institutional investors. Understanding analysts’ use of industry-specific valuation models, which are the main value drivers within different industries, will enhance our understanding of important aspects of value creation in these industries. This paper contributes to the broader understanding of how financial analysts in various industries approach valuation, offering insights that can be beneficial to a wide range of stakeholders in the financial market.

This paper systematically reviews existing research to consolidate the current understanding of analysts’ use of valuation models and factors. It aims to demystify what can often be seen as a “black box”, shedding light on the valuation tools employed by financial analysts across diverse industries.

The use of industry-specific valuation models and factors by analysts is a subject of considerable interest to both academics and investors. The predominant model in several industries is P/E, with some exceptions. Notably, EV/EBITDA is favored in the telecom, energy and materials sectors, while the capital goods industry primarily relies on P/CF. In the REITs sector, P/AFFO is the most commonly employed model. In specific sectors like pharmaceuticals, energy and telecom, DCF is utilized. However, theoretical models like RIM and AEG find limited use among analysts.

This is the first paper systematically reviewing the research on analyst’s use of industry-specific stock valuation methods. It serves as a foundation for future research in this field and is likely to be of interest to academics, analysts, fund managers and investors.