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The Internet of Things (IoT), as one of the new digital technologies, has created wide applications in various industries, and one of the most influential industries of this technology is the transportation industry. By integrating the IoT with the transportation industry, there will be dramatic changes in the industry, and it will provide many entrepreneurial opportunities for entrepreneurs to develop new businesses. Opportunity identification is at the heart of the entrepreneurial process, and entrepreneurs identify innovative goods or services to enter a new market by identifying, evaluating, and exploiting opportunities. Despite the desire of transportation managers to invest in the IoT and the increase in research in this area, limited research has focused on IoT-based entrepreneurial opportunities in the transportation industry. Therefore, the present study aims to identify IoT-based entrepreneurial opportunities in the transportation industry and examine their importance.

To achieve the research objective, the authors applied a mixed approach. First, adapting the lens of the industry value chain theory, a comprehensive literature review, besides a qualitative approach including semi-structured interviews with experts and thematic analysis, was conducted to identify the entrepreneurial opportunities. The identified opportunities were confirmed in the second stage using a quantitative survey method, including the Student t-test and factor analysis. Finally, the identified opportunities were weighted and ranked using the best worst method (BWM).

Entrepreneurial opportunities are classified into five main categories, including “smart vehicles”, “business partners/smart transportation supply side”, “supporting services”, “infrastructures”, and “smart transport management and control”. The infrastructures group of opportunities ranked the highest amongst the identified groups.

This study adds to the digital entrepreneurship opportunity recognition literature by addressing opportunities in a smart industry propelled by digital technologies, including developing new products or new applications of the available technologies. Additionally, inspired by the industry value chain theory, this article develops a framework including various digital entrepreneurial opportunity networks which are necessary to add value to any industry and, thus, could be applied by entrepreneurs to recognize opportunities for new intermediaries to enter other digital-based industries. Finally, the present study identifies the IoT-based entrepreneurial opportunities in the smart transportation industry and prioritizes them, providing practical insights regarding the creation of entrepreneurial ecosystems in the field of smart transportation for entrepreneurs and policymakers.

After completion of the case study, the students will learn about the blue ocean strategies that are adopted by entrepreneurs when they are entering into a new business territory and be able to perform an industry analysis and understand the competitive advantage that a firm possesses in a new market using Porter’s five forces framework.

This case study is about Sushant, an entrepreneur, who started his entrepreneurial venture in water sports tourism along the coastlines of India. His core business was into offering kayaking and camping activities. However, he planned to scale up his business by expanding its geographical reach. To fulfill this, he was also planning to manufacture his own kayaks, which would increase economies of scale in the long run. This case study investigates the dilemma of whether he should first increase his service offerings before expanding geographically or focus on geographical expansion and then increase service offerings.

This case is designed to be taught at the post-graduate level (Master of Business Administration) for an entrepreneurship course.

Teaching notes are available for educators only.

CSS3: Entrepreneurship.

This study aims to examine the blockchain landscape in supply chain management by drawing insights from academic and industry literature. It identifies the key drivers, categorizes the products involved and highlights the business values achieved by early adopters of blockchain technology within the supply chain domain. Additionally, it explores fingerprinting techniques to establish a robust connection between physical products and the blockchain ledger.

The authors combined the interpretive sensemaking systematic literature review to offer insights into how organizations interpreted their business challenges and adopted blockchain technology in their specific supply chain context; content analysis (using Leximancer automated text mining software) for concept mapping visualization, facilitating the identification of key themes, trends and relationships, and qualitative thematic analysis (NVivo) for data organization, coding and enhancing the depth and efficiency of analysis.

The findings highlight the transformative potential of blockchain technology and offer valuable insights into its implementation in optimizing supply chain operations. Furthermore, it emphasizes the importance of product provenance information to consumers, with blockchain technology offering certainty and increasing customer loyalty toward brands that prioritize transparency.

This research has several limitations that should be acknowledged. First, there is a possibility that some relevant investigations may have been missed or omitted, which could impact the findings. In addition, the limited availability of literature on blockchain adoption in supply chains may restrict the scope of the conclusions. The evolving nature of blockchain adoption in supply chains also poses a limitation. As the technology is in its infancy, the authors expect that a rapidly emerging body of literature will provide more extensive evidence-based general conclusions in the future. Another limitation is the lack of information contrasting academic and industry research, which could have provided more balanced insights into the technology’s advancement. The authors attributed this limitation to the narrow collaborations between academia and industry in the field of blockchain for supply chain management.

Practitioners recognize the potential of blockchain in addressing industry-specific challenges, such as ensuring transparency and data provenance. Understanding the benefits achieved by early adopters can serve as a starting point for companies considering blockchain adoption. Blockchain technology can verify product origin, enable truthful certifications and comply with established standards, reinforcing trust among stakeholders and customers. Thus, implementing blockchain solutions can enhance brand reputation and consumer confidence by ensuring product authenticity and quality. Based on the results, companies can align their strategies and initiatives with their needs and expectations.

In essence, the integration of blockchain technology within supply chain provenance initiatives not only influences economic aspects but also brings substantial social impacts by reinforcing consumer trust, encouraging sustainable and ethical practices, combating product counterfeiting, empowering stakeholders and contributing to a more responsible, transparent and progressive socioeconomic environment.

This study consolidates current knowledge on blockchain’s capacity and identifies the specific drivers and business values associated with early blockchain adoption in supply chain provenance. Furthermore, it underscores the critical role of product fingerprinting techniques in supporting blockchain for supply chain provenance, facilitating more robust and efficient supply chain operations.

As of now, the digitization of corporate finance presents a paradigm shift in business strategy, innovation, financing and managerial capability around the globe. However, the prevailing finance scholarly works hardly document the impact of the digitalization of corporate finance on firm performance with global evidence and analysis. Hence, the contemporary debate on whether firm performance is genuinely stimulated because of the digitalization of corporate finance or not has been a pressing issue in the relevant literature. Therefore, the purpose of this study is to identify a data-driven, concise response to an unaddressed finance issue if the performance of high-digitalized firms (HDFs) outperforms that of their counterpart peers for wealth maximization.

The first stage test models examine the firm performance of relatively high-digitalized firms as opposed to low-digitalized firms based on the system GMM. The second stage test of the probabilistic (logit) model infers that the probability of being HDFs explores because of better performance. Then, the authors execute robust checks based on the different quantile regressions and Z-score-based system GMM. In addition, the authors recheck and present the test results of the fixed effect and random effect to capture time-invariant individual heterogeneity. Finally, the supplementary test findings of firms’ credit strength by using Altman five- and four-factor Z-score models are presented.

By using cross-country panel analysis as 15 years’ test bed for HDFs and low digitalized firms (LDFs), the test results indicate that the overall firm performance of a digitalized firm is significantly better than that of a non-digitalized firm. The global evidence documents that HDFs are exposed to higher values and are financially more persistent as compared to their counterparts. The finding is remarkably concomitant across several possible subsample analysis, such as country–industry–size–period analysis.

This study can be remarkably effective in encouraging managers, policymakers and investors to acknowledge the need for adopting the required digitalization. Overall, this original study addresses a core research gap in the corporate finance literature and remarkably provides further direction to rethink the assumptions of firm digitalization on additive value and thereby identify optimal decisions for wealth maximization. The findings also imply that investors require an additional risk premium if they invest in relatively LDFs, which have relatively lower market value and weaker firm performance.

From an investors point of view, the academic novelty contributes to an innovative and unsettled issue on the impact of digitization of corporate finance on firm performance because there is a new question of high or low digitization of corporate finance in the global market. Hence, this academic novelty contributes to sharing global evidence of the digitalization of corporate finance and its effect on firm performances. In addition, an intensive critical review analysis is conducted based on the most recent and relevant scholarly works published in the top-tier journals of finance and business stream to fix the hypothesis. Overall, this study addresses a core research gap in the corporate finance literature; notably provides further direction to rethink firm digitalization; and thereby identifies optimal decisions for shareholders’ wealth maximization.

The purpose of this paper is to determine if there is a link between corporate shareholder value creation and economic growth. The first objective of this paper is to determine which specific shareholder value measurement best explains shareholder value creation for a particular industry. The next objective of the study is to establish, for each of nine different categories of firms examined, a set of value drivers that are unique and significant in expressing shareholder value for that particular category of firms. Lastly, the relationship between shareholder value creation and economic growth is tested.

To quantify and measure value creation, the paper investigates the various value creation measurements that are being applied. The next step is to ascertain whether various industries have different value creation measures that best explain value creation for the respective industries. Then, the value drivers of these specific value creation measures can be determined and their relationship with economic growth tested.

The results of this study indicate that each industry does have a specific shareholder value creation measurement that best explains shareholder value creation for that industry; for example, for five of the nine categories (industries) that were analyzed, market value added was found to be the best shareholder value creation measurement, but for capital-intensive firms and manufacturing firms, the Qratio is the best measure, while for the food and beverage industry, the market to book ratio was found to be a better measure of shareholder value creation than other measures tested. It was further found that an increase in corporate shareholder value creation is to the detriment of economic growth.

The contribution of the present study is its determination of a unique shareholder value creation measurement for particular industries. In addition, a specific set of variables per industry that create shareholder value is identified. Lastly, the important link between shareholder value creation and economic growth is exposed.

Football exists and evolves in a dynamic ecosystem, displaying a massive and multidimensional influence on most contemporary societies, and football has grown into a significant industry with a plethora of stakeholders. This research is the first to comprehensively identify the key industry stakeholders and their distinct value, from the individual club perspective, and to conceptualise and test their interrelationship toward the development of a corresponding framework of club benefits.

The study applied a multilevel approach to collect and verify qualitative data. It initially developed a preliminary conceptual framework, which was first validated by an expert panel and was subsequently extensively tested in the Cyprus-specific context, which offered fertile ground for such a study. The empirical stage rested on 41 semi-structured, face-to-face interviews with very high-ranking individuals from the top nine football clubs, as well as with key industry stakeholders.

Though the examined industry is partly in line with international norms, it is also highly affected by unique characteristics that alter the various stakeholders' role, producing (even negative) value of varied typologies that is directly linked with the industry's financial, sporting, cultural and social conditions.

The research ultimately presents scholars, practitioners and policymakers with a systemic and comprehensive understanding of the individual club stakeholder value offerings, delivers a tested framework as a tool for social and business management and prescribes future avenues for research, governance and practice.

Extant studies on the subject are either partial or focus on individual stakeholders and evidently lack requisite scientific comprehensiveness. The current research bridges this significant gap in knowledge by exhaustively identifying the key industry stakeholders, explicating their relative social, economic or other value in the individual club perspective and developing a value-based stakeholder framework.

In this paper, we evaluated the impact of the US “Chip Act” on the participation of the Chinese electronics industry in the global value chain based on the dynamic CGE model. This is a meaningful attempt to use the GTAP-VA model to analyze the electronics industry in China.

We employ a Dynamic GTAP-VA Model to quantitatively evaluate the economic repercussions of the “Chip Act” on the Chinese electronic industries' GVC participation from 2023 to 2040.

The findings depict a discernible contraction in China’s electronic sector by 2040, marked by a −2.95% change in output, a −3.50% alteration in exports and a 0.45% increment in imports. Concurrently, the U.S., EU and certain Asian economies exhibit expansions within the electronic sector, indicating a GVC realignment. The “Chip Act” implementation precipitates a significant divergence in GVC participation across different countries and industries, notably impacting the electronics sector.

Through a meticulous temporal analysis, this manuscript unveils the nuanced economic shifts within the GVC, substantially bridging the empirical void in existing literature. This narrative accentuates the profound implications of policy regulations on global trade dynamics, contributing to the discourse on international economic policy and industry evolution.

We evaluated the impact of the US “Chip Act” on the participation of the Chinese electronics industry in the global value chain based on the dynamic CGE model. This is a meaningful attempt to use the GTAP-VA model to analyze the electronics industry in China.

The interaction between policy regulations and global value chain (GVC) dynamics is pivotal in understanding the contemporary global trade framework, especially within technology-driven sectors. The US “Chips Act” represents a significant regulatory milestone with potential ramifications on the Chinese electronic industries' engagement in the GVC.

The significance of this paper is that it quantifies for the first time the impact of the US Chip Act on the GVC participation index of East Asian countries in the context of US-China decoupling. With careful consideration of strategic aspects, this paper substantially fills the empirical gap in the existing literature by presenting subtle economic changes within GVCs, highlighting the profound implications of policy regulation on global trade dynamics.

The construction industry sector is developing rapidly, especially with the increasing pace of the Fourth Industrial Revolution in this sector. Construction projects can benefit from greater integration and collaboration between their technologies and processes to reap the advantages and keep pace with the recent significant technological and managerial techniques developments. Therefore, this study aims to delve into and investigate building information modeling (BIM) and Lean Construction (L.C.) with a concentration on the potential BIM–lean interactions synergy and integration in the Jordanian construction industry.

This study takes exploratory nature, followed by the deductive research approach, and is designed to be a mono-quantitative research methodology. Moreover, the sampling technique is non-probability convenience sampling, and the research strategy is implemented through a questionnaire used and analyzed by using Statistical Package for Social Science to conduct descriptive and inferential statistical analysis and verify the reliability and validity through proper tests.

The BIM–lean interactions synergy and integration findings revealed that eliminating waste (time, cost, resources), promoting continuous improvement (Kaizen) and standardizing as lean construction principles are the most significant and agreeable toward achieving BIM–lean interactions synergy. On the other hand, “High 3D Visualization Modelling” was the most significant BIM function, followed by “Rapid and Auto-Generation of Documents and Multiple Design Alternatives” and “Maintenance of Information and Design Model Integrity.” Moreover, based on the relative importance index (RII) values, “Lack of Technical Expertise in BIM-LEAN” is the most significant challenge with a 0.89 value of RII, followed by “Lack of Government Direction and Standard Guidelines” with a 0.88 value of RII and “Financial considerations” with a 0.83 value of RII.

This study will help provide a new detailed overview that investigates the effects and expected benefits of integrating BIM processes and technological functionalities with lean construction principles within a synergetic environment. Moreover, the study will increase the awareness of using new technologies and management approaches in the architectural, engineering and construction industry, seeking to achieve integration between these technologies to reach ideal results in terms of the outputs of construction operations.

Industry 4.0 defines the application of digital technologies on business infrastructure and processes. With the increasing need to take into account the social and environmental impact of technologies, the concept of Society 5.0 has been proposed to restore the centrality of humans in the proper utilization of technology for the exploitation of innovation opportunities. Despite the identification of humans, resilience and sustainability as the key dimensions of Society 5.0, the definition of the key factors that can enable Innovation in the light of 5.0 principles has not been yet assessed.

An SLR, followed by a content analysis of results and a clustering of the main topics, is performed to (1) identify the key domains and dimensions of the Industry 5.0 paradigm; (2) understand their impact on Innovation 5.0; (3) discuss and reflect on the resulting implications for research, managerial practices and the policy-making process.

The findings allow the elaboration of a multileveled framework to redefine Innovation through the 5.0 paradigm by advancing the need to integrate ICT and technology (Industry 5.0) with the human-centric, social and knowledge-based dimensions (Society 5.0).

The study detects guidelines for managers, entrepreneurs and policy-makers in the adoption of effective strategies to promote human resources and knowledge management for the attainment of multiple innovation outcomes (from technological to data-driven and societal innovation).

This research paper aims to analyze the scientific and grey literature on Quality 4.0 and zero-defect manufacturing (ZDM) frameworks to develop an integrated quality 4.0 framework (IQ4.0F) for quality improvement (QI) based on Six Sigma and machine learning (ML) techniques towards ZDM. The IQ4.0F aims to contribute to the advancement of defect prediction approaches in diverse manufacturing processes. Furthermore, the work enables a comprehensive analysis of process variables influencing product quality with emphasis on the use of supervised and unsupervised ML techniques in Six Sigma’s DMAIC (Define, Measure, Analyze, Improve and Control) cycle stage of “Analyze.”

The research methodology employed a systematic literature review (SLR) based on PRISMA guidelines to develop the integrated framework, followed by a real industrial case study set in the automotive industry to fulfill the objectives of verifying and validating the proposed IQ4.0F with primary data.

This research work demonstrates the value of a “stepwise framework” to facilitate a shift from conventional quality management systems (QMSs) to QMSs 4.0. It uses the IDEF0 modeling methodology and Six Sigma’s DMAIC cycle to structure the steps to be followed to adopt the Quality 4.0 paradigm for QI. It also proves the worth of integrating Six Sigma and ML techniques into the “Analyze” stage of the DMAIC cycle for improving defect prediction in manufacturing processes and supporting problem-solving activities for quality managers.

This research paper introduces a first-of-its-kind Quality 4.0 framework – the IQ4.0F. Each step of the IQ4.0F was verified and validated in an original industrial case study set in the automotive industry. It is the first Quality 4.0 framework, according to the SLR conducted, to utilize the principal component analysis technique as a substitute for “Screening Design” in the Design of Experiments phase and K-means clustering technique for multivariable analysis, identifying process parameters that significantly impact product quality. The proposed IQ4.0F not only empowers decision-makers with the knowledge to launch a Quality 4.0 initiative but also provides quality managers with a systematic problem-solving methodology for quality improvement.