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In demand-driven markets, customer value, sometimes called perceived use value or consumer surplus, is defined by the customer rather than the firm. The value a firm can appropriate, its profits, is driven by the customer’s willingness to pay for the value they receive, adjusted by costs. This paper introduces a conceptual framework that helps understand value creation and appropriation in demand-driven markets and shows how to influence them through strategic decision-making.

This paper uses an axiomatic approach combined with an extended analytical formulation of the jobs-to-be-done framework to contextualise demand-driven markets. It mathematically derives implications for managerial decision-making concerning selecting customer segments, optimising customer value creation and maximising firm value appropriation in a competitive environment.

Rooting strategic decision-making in the jobs-to-be-done framework allows distinguishing between what customers want to achieve (goal), what product attributes need to be satisfied (opportunity space/constraints) and what value creation criteria related to features are important (utility function). This paper shows that starting from a job-to-be-done, the problem of identifying which customer segments to serve, what product to offer and what price to charge, can be formulated as an optimisation problem that simultaneously (rather than sequentially) solves for the three decision variables, customer segments, product features and price, by maximising the value that a firm can appropriate, subject to maximising customer value creation and constrained by the competitive environment.

Applying the derived results to simultaneously deciding which customer segments to target, what product features to offer and what price to charge, given a set of competing products, allows managers to increase their chances of winning the competitive game.

This paper shows that starting from a job-to-be-done and simultaneously focusing on customers, product features, price and competitors enhances firm profitability. Strategic decision-making is formulated as an optimisation problem based on an axiomatic approach contextualising demand-driven markets.

This study aims to investigate how companies’ understanding of the business network influences the creation of value in business-to-business relationships. The authors do this by analysing dimensions in actors’ “network pictures” and illustrating how value perception and network understanding influence actors’ mutual effort to create value. Approaching relationship value from the point of actors’ cognitive understanding of their business network has so far been largely overlooked in relationship value research.

This study applies a qualitative case study methodology whereby dyadic data from a well-established business-to-business relationship is collected from 18 company representatives through personal interviews and group interviews supplemented by participant observations and company data.

The findings contribute with new insight into how companies’ understanding of their surrounding network influence (facilitates or limits) relationship value creation. The authors find that companies continuously reflect on changes in their networks and the related changes in partners’ value perceptions. Through value articulations, companies seek to explicitly express their value perception. Value reflections and value articulations create a dynamic process formed not only by the individual actor but also through their relationship and engagement in their network environment. This requires companies to develop their networking capabilities.

This paper presents findings, insights and contributions limited to a case study of a particular business relationship within an industrial setting. Although the findings and contributions are valid and in line with the criteria for rigorous qualitative research, the authors advocate and call for additional studies that investigate relationships value creation and address the interplay between actors’ network understanding and their actions and behaviour. One way to approach this would be to test the four propositions derived and presented as part of the present study.

The findings imply that management needs to be aware not only of the value created and delivered to a specific partner but also of how the partner’s understanding of the wider network will influence the value delivering and capturing process.

This study contributes to the growing literature on relationship value creation by outlining a dynamic process where relationship partners reflect upon and articulate value. Such activities are influenced by the partners’ network understanding and form the basis of the mutual relationship value creation effort. The findings also contribute to the network pictures literature by emphasizing insights into the formation of value perceptions through actors’ understanding of their surrounding networks.

This paper aims to present the impact of several likely trajectories of development for global industries, namely, re-shoring, regionalization, diversification and replication, recently identified by the United Nations Conference on Trade and Development, on the evolution of the corporate parenting styles (CPSs) of multinational corporations (MNCs).

This viewpoint presents a novel view of CPSs as a set of relationships between the corporate centers of MNCs and their subsidiaries, including domestic ones, identifies the most likely connections between anticipated trajectories of development in global industries and the evolution of CPSs of MNCs and outlines directions for further research.

The anticipated trajectories of the development of global industries may result in changes in prevailing CPSs and lead to the proliferation of previously less common parenting styles. Although many of the anticipated changes in CPSs may be pursued by corporate headquarters (CHQs), a combination of powerful subsidiaries putting bottom-up pressure on CHQs and powerful owners capable of imposing requirements on top management teams and generating top-down pressure may affect the CPSs used by corporations.

The authors connect possible trajectories of development for global industries with the evolution of CPSs of MNCs.

This study aimed to examine the similarities and differences between the ability to analyze the environment and exploit new knowledge (absorptive capacity) and the skills to generate value from innovation (appropriation). These fields have similar origins and are sometimes confused by practitioners and academics.

A review was conducted based on a full-text analysis of 681 and 431 papers on appropriation and absorptive capacity, respectively, from Scopus, Science Direct and Lens, using methodologies such as text mining, backward citation analysis, modularity clustering and latent Dirichlet allocation analysis.

In business disciplines, the fields are considered different; however, in other disciplines, it was found that some authors defined them quite similarly. The citation analysis results showed that appropriation was more relevant to absorptive capacity, or vice versa. From the dimension perspective, it was found that although appropriation was considered a relevant element for absorptive capacity, the last models did not include it. Finally, it was found that studies on both topics identified the importance of appropriation and absorptive capacity for innovation performance, knowledge management and technology transfer.

This is one of the first studies to examine in-depth the relationship between appropriation and absorptive capacity, bridging a gap in both fields.

This paper engages with the important work of Raškovic (2023). The authors agree with Raškovic’s (2023) argument that international business (IB) policy is well positioned to inform and address many of society’s wicked problems, including modern slavery. Beyond supporting this position, the purpose of this paper is to highlight IB’s internal and ongoing debate regarding multinational ownership and control, and how this unresolved theoretical issue can hinder the contribution of IB policy in addressing wicked problems.

By leveraging prior literature, this paper synthesises opposing views on the extent of control that multinational enterprises (MNEs) exert across global value chains (GVCs). The authors then demonstrate why these conflicting perspectives should be resolved to fully realise the task that Raškovic (2023) has laid out for IB policy.

This study argues that IB is steeped in a tradition where ownership has been a proxy for meaningful control. Rising GVCs have complicated this relationship, and while IB recognises this, the field remains short of explicating a set of robust conditions that can detect control in the absence of ownership. Given that responsibility is often based on an assumption of who has control, this ongoing and unresolved debate limits IB’s utility in advancing appropriate policy interventions to tame wicked problems.

This paper makes a contribution by bringing together diverse perspectives on the ongoing debate regarding MNE control in GVC. It demonstrates how this seemingly abstract debate can have significant implications for IB’s role in addressing society’s grand challenges. The authors further suggest that embracing interdisciplinarity and novel analytical tools can assist in demystifying the opaqueness of GVCs and resolving the control “fuzziness” that confuses responsibility boundaries across the GVC.

Social initiatives must disclose their results to access support. However, there is no theoretical consensus about how to do it. It is still necessary to understand the value creation in social initiatives because they may or not have economic goals. However, these goals serve to make the social ones feasible. This study aims to cut this Gordian knot by providing measures aligned to the value theory but developed by the social lens. It offers a non-economic-focused approach to dealing with assessment complexity and with multiple stakeholders’ needs for information.

A consolidation research path is suggested by three composed measures built upon tested and reliable scales. These value measures are discussed through narratives from Portuguese investors and social entrepreneurs in a mixed-methods design. Content analysis and online survey provided data for descriptive statistics, exploratory factor analysis and Cronbach's alpha test.

The analyses supported the value measures. Thus, they allow an effective way to assess and report the social value created. It also highlighted a potential use in preventive and corrective approaches helpful for several organizations that pursue social goals.

The measures were tested based on social entrepreneurs' opinions. Future studies can include beneficiaries' opinions, allowing comparisons that can help to set more realistic goals and better investment criteria.

The relationship between investors and initiatives can improve, boosting their impact on society. The measures can highlight prioritization choices that influence the way value is created. Hence, they serve as a sensemaking from a holistic standpoint.

Prior research has produced conflicting results on the relationship between firm-level patenting activity and financial performance. To identify a factor that impacts the results, this study tests whether the level of customer-base concentration (defined as focusing on a small number of major customer sales transactions) changes the relationship between firm-level patenting activity and financial performance (return on assets: ROA).

Using a longitudinal secondary dataset from Japanese manufacturers from 1991 to 2016, this study investigates the interaction effect between firm-level patenting activity and customer-base concentration. With additional analysis using multiple profitability measures, this study provides robust evidence that customer-base concentration is an important factor in changing the relationship between firm-level patenting activity and financial performance.

The analysis results show that there is a positive relationship between firm-level patenting activity and ROA. In addition, this relationship is positively moderated by the customer-base concentration. This means that suppliers can improve the performance of the patenting activity by concentrating on their customer base.

By identifying a moderating factor between patenting activity and financial performance, this study advances the interpretation of conflicting results in patent research. Moreover, this study reveals a situation where customer-base concentration, which has a direct negative impact on financial performance, leads to better financial performance. This also indicates that firm-level patenting activities may compensate for the negative aspects of customer-base concentration.

This study aims to investigate how and to what extent structural network properties affect dyadic negotiation behavior in tourism destination ecosystems. Specifically, this study addresses negotiation behavior in terms of problem-solving and contending, because these two key strategies reflect the integrative and distributive aspects of dyadic interactions.

This study relies on network data and dyadic survey data from nine mountain tourism destinations in Southeastern Norway. The structural network properties the authors research are triadic closure – the extent to which a dyad has common ties to other actors – and structural equivalence – the similarities in networking patterns that capture firms’ competition for similar resources. In addition, the authors also study a possible effect of relationship duration on negotiation behavior.

Triadic closure and relationship duration have positive effects on problem-solving, and structural equivalence tends to decrease problem-solving, although the effect is inconsistent; none of these three independent variables was found to affect contending negotiation behavior.

This study shows that a dyad’s structural network embeddedness has implications for negotiation behavior. Further research is encouraged to develop this theoretical perspective.

This study is a pioneering investigation of how structural network properties affect dyadic negotiation behavior in ongoing coproducing relationships in real-world destination ecosystems.

The study is positioned at the crossroads of transformative social marketing and social innovation literature through the lens of participatory design (PD). This exploratory study aims to explore how social enterprises in India engage economically marginalized people in transformative social marketing and innovation for sustainable development through PD.

The study includes a case study with a matched pairs analysis approach. The data analysis reports three themes depicting the role of PD in different stages of the social innovation process (codiscovery, codesign and scaling-up), the challenges faced in the process and the outcomes of the PD process.

The authors propose that social enterprises can act as sustainable development catalysts for more inclusive sustainable development through their proactive and creative uses of PD. Still, PD also has limitations for addressing the challenges stemming from marginalized contexts, which requires effective social marketing strategies to overcome.

The study contributes to the emerging dialogue on PD with marginalized users and widens the scope of studies on transformative social marketing and innovation. The findings also provide practical insights for PD practitioners on how designers can learn from diverse PD practices in the context of economically marginalized people.

The research aims to explore the relationships between the digital capabilities of micro, small and medium enterprises (MSMEs), their participation in global value chains and their adoption of innovative business models. Additionally, the study investigates how the prior experiences of entrepreneurial failure may influence or moderate these relationships.

To address these research objectives, the study draws upon data obtained from the Flash Eurobarometer 486 survey, a comprehensive dataset that explores the challenges faced by 13,197 European MSMEs as they navigate the complexities of growth, the integration of sustainable business models and the incorporation of digital technologies. To test the proposed hypotheses, the research employs multivariate logistic regression analysis.

Digital capabilities are found to be positively associated with business model innovation, while integration into global value chains is linked to a higher likelihood of implementing new business models. Interestingly, entrepreneurial failure did not significantly influence the relationship between digital capabilities and the adoption of new business models. In contrast, entrepreneurial failure significantly moderated the impact of global value chain inclusion on business model innovation, particularly in MSMEs with a history of failure.

This article provides practical guidance to entrepreneurs and companies interested in enhancing their digital strategies and engagement in global value chains, considering the entrepreneurs' business histories.