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Since Zuckerberg's announcement to change Facebook's name to Meta Platforms Inc. on October 28, 2021, the concept of the metaverse has gained unprecedented popularity in the business world. Tech giants, SMEs and start-ups across various sectors are making substantial investments in metaverse-related technologies. Despite this, scholarly research in entrepreneurship and strategic management regarding the metaverse remains limited. This paper, grounded in value creation theory, aims to analyze how value is generated in the metaverse era.

This paper conducts a thematic analysis of 895 press releases published by LexisNexis between October 28, 2021, and October 28, 2022. The analysis identifies the primary emerging themes related to value creation in the metaverse age.

The thematic analysis reveals four significant emerging themes concerning value creation in the metaverse age: (1) factors enabling value creation, (2) digital resources contributing to value creation, (3) motives driving value creation and (4) practices of value creation.

This paper represents the inaugural attempt to analyze the metaverse through a value creation lens. Given the substantial investments and growing academic interest in the metaverse, understanding value creation in this context is a pressing concern. Additionally, this study provides valuable insights and suggests critical questions for future research on the metaverse.

This paper aims to set out the case for integrated reporting (IR) and its potential to lead to change in the public sector by examining it in practice and analyzing the challenges associated with its implementation.

The paper investigates the role of IR in the public sector through the development of a theoretical framework applied to a case study focused on the University of Udine in Italy.

IR can be considered more as an incremental than a groundbreaking transformation of existing arrangements and approaches. The analysis revealed that the vagueness, complexity and intrinsic discrepancy between the IR concept and its operationalization brought the University of Udine to challenge and debate the IR approach and ultimately, to reconceptualize and implement its own version that better fitted its strategic aims, its intended audience and its status as a public entity.

The application of the findings to other contexts should be further investigated, while the analytical framework should be applied to different settings and could be enriched to add knowledge and sharpen the paradigms of integrated thinking and value co-creation. Moreover, the interviews focused on people directly involved in the preparation of the integrated report, excluding other stakeholders. Further research could explore their perceptions of IR and focus on their understanding of the IR as well as the value co-creation process.

The findings provide decision makers with insights about how IR can be promoted to enhance its impact on value co-creation. The key processes to be considered for a public organization are integrated thinking and value co-creation, while the key aspects to be investigated in an integrated report for the public sector are materiality and stakeholder engagement. Yet, the IR framework is missing indications on how to account for stakeholders' inputs, outputs and outcomes in a value co-creation process, which is fundamental in a public service logic.

The results shed further light on two fundamental phenomena in the public sector, namely, integrated thinking and value co-creation. The paper also answers the call for more empirical research on IR's rhetoric and practice and on its concrete role in the value creation process.

The aim of this paper is to review and synthesise the recent advancements in the business model literature and explore how firms approach business model innovation.

A systematic review of business model innovation literature was carried out by analysing 219 papers published between 2010 and 2016.

Evidence reviewed suggests that rather than taking either an evolutionary process of continuous revision, adaptation and fine-tuning of the existing business model or a revolutionary process of replacing the existing business model, firms can explore alternative business models through experimentation, open and disruptive innovations. It was also found that changing business models encompasses modifying a single element, altering multiple elements simultaneously and/or changing the interactions between elements in four areas of innovation: value proposition, operational value, human capital and financial value.

Although this review highlights the different avenues to business model innovation, the mechanisms by which firms can change their business models and the external factors associated with such change remain unexplored.

The business model innovation framework can be used by practitioners as a “navigation map” to determine where and how to change their existing business models.

Because conflicting approaches exist in the literature on how firms change their business models, the review synthesises these approaches and provides a clear guidance as to the ways through which business model innovation can be undertaken.

Worldwide, natural hazards are affecting urban cultural heritage and World Heritage Sites, exacerbating other environmental and human-induced threats deriving from deterioration, uncontrolled urbanization and unsustainable tourism. This paper aims to develop a disaster risk analysis in Italian historic centers because they are complex large-scale systems that are cultural and economic resources for the country, as well as fragile areas.

A heritage-oriented qualitative methodology for risk assessment is proposed based upon the formalization of risk as a function of hazard, vulnerability and exposure, taking into account the values of cultural heritage assets.

This work provides a contribution to the body of knowledge in the Italian context of disaster risk mitigation on World Heritage Sites, opening for further research on the monitoring and maintenance of the tangible heritage assets. The application to the site of San Gimignano proves the effectiveness of the methodology for proposing preventive measures and actions that ensure the preservation of cultural values and a safer built environment.

The application of a value-based simplified approach to risk analysis is a novelty for historic centers that are listed as World Heritage Sites.

The purpose of this paper is to investigate how focal firms in supply networks manage weak and strong ties for exploration and exploitation innovation in mature industries. In doing so, the paper extends the understanding of how focal firms manage open innovation (OI).

The empirical base is a multiple case study conducted on three companies operating in mature industries in Europe.

Findings of this study reveal, analyze and explain a diverse set of OI practices in the supply networks of mature industries in which the focal firms integrate strong and weak supply ties to enhance innovation outcomes. This study provides a fine-grained view of the benefits of the additive and interactive effects of strong and weak ties in OI. More specifically, the analysis reveals an enhancing role of strong supply ties in exploration, which previously was associated solely with weak ties. Moreover, this study sheds light on the dominant and orchestrating roles of focal firms.

The findings provide insights to enhance OI practices beyond the limited role of the weak ties of the supply network and highlight the essential role of the strong supply ties in mature industries.

While previous studies have associated exploration with weak ties, findings of this study reveal that exploration-oriented activities in mature industries also extend to strong ties. In the strong ties of mature industries, this study finds there is not only the exploitation of existing knowledge but also the reconfiguration and innovation of products.

This paper aims to elucidate the relationship between entrepreneurial orientation, reverse innovation and international performance of emerging economy multinational enterprises (EMNEs).

The authors analyze archival data of Chinese limited companies between 2010 and 2016, including 11,230 firm-year observations about 1708 firms. In order to test the study’s mediation hypotheses, the authors apply an ordinary least square (OLS) regression.

The authors find evidence that the entrepreneurial orientation of EMNEs has a positive effect on reverse innovations. Furthermore, the authors find positive effects of reverse innovation on the international performance of EMNEs. This pattern of results suggests that the relationship between entrepreneurial orientation and international performance is partially mediated by reverse innovation.

The study’s findings help managers in EMNEs to promote reverse innovation by building and using their entrepreneurial orientation. It also helps them to set out and gauge the chances of success of their internationalization strategies. The findings also hold relevance for firms in developed economies as well, as they may understand which emerging economy competitors stand to threaten their positions.

The strategic role of reverse innovations – i.e. clean slate, super value and technologically advanced products originating from emerging markets – has generated considerable research attention. It is clear that reverse innovations impact the international performance of EMNEs. Yet how entrepreneurial orientation influences international performance is still underexplored. Thus, the current study clarifies the mechanism by examining and testing the mediating role of reverse innovation among the entrepreneurial orientation–international performance link.

This study aims to understand and compare how the mechanism of innovative processes in the information technology (IT) industry – the most innovative industry worldwide – is shaped in Poland and the USA in terms of tacit knowledge awareness and sharing driven by a culture of knowledge and learning, composed of a learning climate and mistake acceptance.

Study samples were drawn from the IT industry in Poland (n = 350) and the USA (n = 370) and analyzed using the structural equation modeling method.

True learning derives from mistake acceptance. As a result of a risk-taking attitude and critical thinking, the IT industry in the USA is consistently innovation-oriented. Specifically, external innovations are highly correlated with internal innovations. Moreover, a knowledge culture supports a learning culture via a learning climate. A learning climate is an important facilitator for learning from mistakes.

This study revealed that a high level of mistake acceptance stimulates a risk-taking attitude that offers a high level of tacit knowledge awareness as a result of critical thinking, but critical thinking without readiness to take a risk is useless for tacit knowledge capturing.

Management research on serendipity, which is defined as a search that leads to an unintended discovery, has increased considerably over the last three decades. In this article, management research on serendipity (up to the end of 2021) is reviewed and synthesised.

A bibliometric analysis was conducted on 85 peer-reviewed articles extracted from the Scopus database, which was then integrated with a systematic literature review.

The bibliometric analysis revealed that management literature on serendipity is framed around four main thematic areas: conceptual boundaries, conditions favouring serendipity and outcomes, foreign market entry and the relationship between serendipity, networks and assets. A systematic literature review was then conducted on each of the identified clusters.

The present article offers a systematised view of the extant body of research on serendipity in management studies. Based on the findings, the main implications and future research agendas are discussed.

This study aims to examine the potential determinants of entrepreneurial intentions (EIs) among business students. To that end, the study investigates the role of entrepreneurship education (EE) and entrepreneurial passion (EP) (inventing and founding), as well as the mediating role of attitude towards entrepreneurship (ATE) and the moderating role of university support.

A close-ended questionnaire measured on a seven-point Likert scale was used to collect data from business students at nine universities in Punjab, Pakistan. The sample size comprises 377 participants who were selected using a stratified random sampling technique. Partial least square structural equation modeling (PLS-SEM) was then applied to assess the study’s model and the postulated hypothesis.

The findings indicated that (a) every independent variable (IV) directly impacts EI [dependent variable (DV)] except EP for founding (EPF), (b) ATE significantly mediates the relationship between IV and DV (c) perceived university support positively moderates the relationship between ATE and EI.

As an implication to policy, the Government must ensure that students are exposed to business environments and find university support through different paths. Specifically, Pakistan’s Minister of Education and the Higher Education Commission (HEC) may consider designing university programs that lead to more influential EE. The empirical findings may help policymakers develop effective policies for promoting entrepreneurship.