International Journal of Business Innovation and Research (128 papers in press)
- Factors Influencing the Organizational Adoption of Human Resource
Information Systems: A Conceptual Model
by Rand Aldmour, Steve Love, Al-Debei
Abstract: This paper aims at developing a comprehensive conceptual model that explains and predicts the adoption of Human Resource Information Systems (HRIS) by organizations. This is deemed significant given that our review of the studies tackling the adoption of HRIS at the firm level suggests that results are to some extent inconsistent. Moreover, studies identifying environmental factors (i.e. internal and external), especially those determining organizations adoption of HRIS at the firm level are limited; and consequently our understanding of why some organizations adopt HRIS applications and others is incomplete. In developing our conceptual model, we first conducted content analysis over previous studies to identify the main constructs affecting the adoption of HRIS at the organizational level. Accordingly, a questionnaire was developed using validated items borrowed from previous research and was then distributed to general and human resources managers. Data was collected from 236 companies, listed in Amman Stock Exchange Market database, in Jordan. To test the validity of the identified constructs and to explore the sub-factors included within these constructs, a principal component factor analysis was conducted and eight main constructs were identified. Five constructs including sixteen sub-constructs were accommodated within the internal environmental dimension, whilst only three main constructs including four sub-constructs were accommodated within the external environmental dimension.
Keywords: Human Resource Information Systems, HRIS, Adoption, Conceptual Model, Factors
Analysis, Information Systems.
- Toward a Novel Business Model for Marketing Networked Companies
by Saeed Azizian, Behrouz Zarei, Majid Shishehgar, Setareh Sadeghi
Abstract: Designing smart business models to be used as a solid step in starting a business has become an important issue in todays world of e-commerce. Marketing networked companies also as a new and web-based business are in dire need of designing such a model for their success. The aim of this study was to identify the components of this model. To understand the system and gather the in dire need of information to define the various elements of the business model, we have used the methodology of soft systems. In this method, we will provide a picture of the status quo as well as a general definition of the optimal system, based on which we will define the blocks of the business model. Our reference model for designing business model of marketing networked companies is "ontology" business model.
Keywords: Business Model; Marketing Networked Companies.
- Exploring the dimensions of Image Management using Interpretive Structural Modelling and MICMAC Analysis.
by Kuiljeit Uppaal, Manju Singh
Abstract: The buzz word today is Image Management! It has had people intrigued and curious, and yet unaware of its concept as well as what it envelopes. In the academic world it is a relatively untouched area as a complete concept, which thereby urges the need for study and makes it highly pertinent for research. The concept of image management spans an entirety of elements that comprise it, as also offers a way out for growth and enhancement for us human beings, our need for acceptance, growth and recognition, as well as aspirations in the dynamism of the contemporary world, at a personal as well as professional level. The research paper throws light on the brief history and evolution of image management, and an understanding of the concept of image management. It also highlights the core elements of image management which have been arrived at, based on systematic literature review as well as Interpretive Structural Modelling (ISM) approach and MICMAC Analysis; coupled with the interrelationship between the varied elements of the concept of image management.
Keywords: Image Management, Concept,*Interpretive Structural Modelling, Interrelationship, MICMAC Analysis
- Sustainable Leadership and Consequences at Thailands Kasikornbank.
by Sooksan Kantabutra, Thachapong Thepha-Apiraks
Abstract: This paper adopts Averys 19 sustainable leadership practices derived from Rhineland enterprises as a framework to examine the sustainable business practices of Thailands second largest financial services providers. Adopting a case study approach, multi-data collection methods included non-participant observations made during visits to the enterprise, and reference to internal and published documentation and information. In-depth interview sessions were held with 26 top management team members and employees, including CEO, president and division heads. Other stakeholders include former consultants, minority and majority shareholders, and customers. Six core sets of practices consistent with the 19 sustainable leadership practices were identified: a focus on long-term perspective, people priority, innovation, social responsibility, uncertainty and change and ethical behavior. These core themes sharply contrast with the prevailing Anglo/US business model of short-term maximization of profitability. Enterprises in Thailand or other less developed countries which wish to sustain their organizational success can adopt Averys 19 Sustainable Leadership Grid elements to examine their leadership practices and adjust them to become more sustainable.
Keywords: Leadership; sustainable leadership; Rhineland principles; Anglo/US leadership; social vision.
- Development of recruitment scale and their validation using Structural Equation Modelling : An empirical study on management school faculty
by Mandira Basak
Abstract: The aim of the paper is to develop and validate a measurement scale for recruitment of management faculty. Semi-structured interviews of academicians were conducted to identify parameters to be used further in designing the questionnaire to be administered to faculty of business school. Exploratory Factor Analysis technique has been adopted in order to develop the factors and generate the scale, and later, Confirmatory Factor Analysis to assess its reliability and validity. A 13 point scale, which will be utilised in assessing the factors influencing faculty recruitment in business schools and their inter dependence with each other is developed and validated.
Keywords: Faculty recruitment, scale development, Management education, Structural equation modelling
- Cluster Management and Research Commercialization
by Jarunee Wonglimpiyarat, Achara Chandrachai
Abstract: The purpose of this study is to examine the process of research and development (R&D) commercialization of the food industrial cluster, one of the most important competitive clusters of Thailand. The study was carried out by reviewing all the food projects in Thailand and selecting the ones with high commercial potential to write solid business plans for raising VC investments. The public forum was organized to seek experts advice on the management of food cluster innovation. The results have shown that there are 13 projects with high commercial potential. The cluster-based analysis empirically contributes to the management of food innovation commercialization.
Keywords: cluster management, R&D commercialization, innovation management, entrepreneurship, technology transfer
- Developing customer-oriented service bundles: the case of Finnish public healthcare
by Henna Järvi, Mika Immonen, Mikko Pynnönen
Abstract: Governments worldwide are addressing the challenge of ageing. The elderly will have a more worthwhile and independent life when they can live at home for as long as possible; a situation which would also decrease the costs of public healthcare. Therefore, service offerings should be modified on the basis of changing needs, and governments should offer genuine solutions that make it possible for the elderly to live at home. What must be understood is that the elderly require a variety of different services, which go beyond healthcare. In this quantitative and explanatory study, we formulated customer-oriented service bundles that would satisfy the needs of public healthcare customers, and therefore provide them with value.
Keywords: Value creation, value co-creation, service-bundling, customer orientation, market segmentation, social network analysis
- A Cointegration Analysis of Price Diffusion amid ADRs and Dually Listed Indian Stocks
by Visalakshmi S, Lakshmi P, Kavitha Shanmugam, Kesava Prasad K
Abstract: The aim of this study is to provide empirical support to global investors who are intending participation in stock markets using American Depositary Receipts (ADRs) as the investment vehicle. This study explores the degree of integration between ADRs and dually listed Indian Stocks using daily data for the period from Jan 2001 to May 2012.Further, the dynamics of price diffusion between the ADRs of Indian stocks pertaining to telecommunication sector cross listed in the US markets is examined by applying econometric tools like Co integration test, Vector Error Correction Model and Granger causality test. The findings reveal that both long-run co-integration relationships and short-run causality relationships exist between domestic stock price series and ADR prices. Further, we find evidence of strong error correction of ADR open and close to domestic stock open and close prices, and weak error correction of domestic market open index returns to foreign market open index returns. This implicates that ADRs appear to overreact to the US market index but underreact to changes in underlying share prices.
Keywords: Cross listing; Short run relationship: Long run relationship; VECM; ADR; NYSE; NIFTY
- ROLE OF INNOVATION INTERMEDIARIES IN OPEN INNOVATION PRACTICES: DIFFERENCES BETWEEN MICRO-SMALL AND MEDIUM-LARGE FIRMS
by Pierluigi Rippa, Ivana Quinto, Valentina Lazzarotti, Luisa Pellegrini
Abstract: Opening the innovation process represents a new opportunity for small, medium and large firms to increase the internal innovative capacity and to raise their overall innovation performances. Although large firms still realized the higher amount of innovation, few studies have paid attention to open innovation in SMEs and how the use of OI practices in SMEs differ from large enterprises. Starting from the findings in Spithoven et al. (2013) that SMEs can foster the introduction of new offerings through collaboration with several innovation partners and that collaboration with partners increases the likelihood that SMEs launch new products and services, we investigate through a web-based survey realized in Italy how organizational factors, strategic factors and environmental factors impact on the ability of a firm to adopt an OI approach, if size matters, and whether innovation intermediaries play a critical role in the opening process.
Keywords: Open Innovation, Innovation Intermediaries, SMEs, Large Firms, Survey, Italy.
- Why i-mode mobile platform failed to succeed outside Japan: An analysis from a business model perspective
by Mutaz Al-Debei, Enas Al-Lozi, Omar Al-Hujran, Anas Aloudat
Abstract: Mobile data platforms were firstly introduced to the world by the Japanese telecommunication company, NTT DoCoMo, through its i-mode service which was developed on the basis of modest technology. I-mode mobile platform offers a portfolio of bundled and well-balanced services. In Japan, i-mode is huge and the number of its current users is substantial. After few years from its roll-out in Japan, NTT DoCoMo launched the service in many other countries in different parts of the world. Unlike the service success in Japan, i-mode seems unsuccessful in the chosen international markets. Hence, this paper aims at examining why i-mode service is very successful in Japan and not in the overseas markets where the service has been launched. To this end, this paper utilizes the business model concept as an analytical lens. The outcome of this study suggests that the success or failure of mobile platforms can hardly be attributed to a single reason. Based on our analysis, the success of mobile platforms is heavily driven by the design of the service business model, and the fit between the Business Model (BM) of the mobile platform and its context.
Keywords: i-mode, Mobile Data Services, Business Model, Value Network
- Determining the effect of Organizational Culture on Knowledge Management for SMEs in Malaysia
by C. A. Malarvizhi, Mah Chee Tiang, Abdullah Al Mamun, Nursalihah bt Ahmad Raston
Abstract: The primary objective of this study is to examine the association between organizational culture and knowledge sharing for SMEs in Malaysia. This study used a cross-sectional design and a self-administered questionnaire to collect quantitative data from 150 owner-managers of SMEs broadly located in Selangor, Perak, Sabah, and Sarawak. Findings of this study showed that organizational structure, knowledge workers, leadership, and process change play a significant positive role in the development of knowledge management among the SMEs in Malaysia. SMEs, therefore, focus on promoting a favorable environment to build up knowledge workers, as well as practice democratic leadership, design appropriate reward system, and improve their ability to adapt to the changes in order to survive in todays competitive business environment.
Keywords: Organizational Culture, Knowledge Management, SME, Malaysia
- A STUDY ON OCCUPATIONAL STRESS AND JOB SATISFACTION
by Sumathi Annamalai, Kamalanabhan T.J
Abstract: The purpose of this study was to test the association among occupational stress, coping strategies, mental health, physical health and job satisfaction. A paper-and-pencil survey battery comprising of five scales was completed by 360 participants. Results indicate that there is negative association between occupational stress and health (both mental and physical), also occupational stress with job satisfaction. Furthermore, there is an impact of coping strategies on the health and the attitudinal outcome (job satisfaction) of the participants. Findings convey that there exist significant differences among the dimensions of job satisfaction, relationship dynamics is reported to be the principal dissatisfying factor. Organizations continuously demand the best performance from its employees and for this very reason, their stress levels have to be managed. Coping strategies have to be devised to manage the occupational stress so that the employees are physically and mentally fit to perform their job. In addition, employees must be aware of their stress prone areas and the coping strategies suitable for them.
Keywords: Occupational stress, consequences of occupational stress, job satisfaction, ITES industry.
- Information Technology adoption on 3 G Mobile Phones in India: The Empirical Analyses with SPSS 20, SmartPLS2.0M3 and LISREL8.80 - PART 1
by Manivannan Senthil Velmurugan, Masa Sakthi Velmurugan
Abstract: Mobile phones have grown to be the most widely used portable device in the world. The use of mobile phones has increased rapidly among the people of India. However, the inclination of people towards adoption of information technology for the usage of 3G mobile phones is relatively low in India. This study investigates consumers awareness and perceived ease of use, as well as their influences in adoption of information technology for 3G mobile phones. This study uses a primary data analysis through SPSS 20 for descriptive analysis, SmartPLS2.0M3 for co-variance-based structural equation modeling, and LISREL8.80 for confirmatory factory analysis. The results showed that the two hypotheses are valid. Implications, limitations, and suggestions for future research have been drawn on the basis of the research findings. This included a proposition as a way forward in addressing consumers adoption of information technology towards the usage of 3G mobile phones in India.
Keywords: 3G mobile phone, information technology, usage, consumer, awareness, perceived
ease of use.
- The Impact of Green Supply Chain Management Practices on Firm Competitiveness
by Tan Cheng Ling, Suhaiza Zailani, Tan Sieow Chin, Mohd Rizaimy Shaharudin
Abstract: In view of the influence of Green Supply Chain Management (GSCM) practices on firm competitiveness, particularly among manufacturing firms, we examined a model linking green production, green purchasing, investment recovery and firm competitiveness. This paper contributes to the emerging body of literature on green supply chains and firm competitiveness in developing countries by examining our research model in the context of Malaysia. Specifically, using a sample of 144 Malaysian manufacturing companies, we propose and find support for the notion that there is a relationship between green supply chain practices and firm competitiveness. Analysis using the partial least squares package reveals that both green production and green purchasing have a direct effect on firm competitiveness. However, investment recovery has no relationship with firm competitiveness. A discussion and suggestions for future research are included.
Keywords: Firm competitiveness, green production, green purchasing, partial least squares, manufacturing, Malaysia
- Technology Selection Based on Main Parameters of Value and Fuzzy Logic
by Len Malinin
Abstract: Corporations often need to select a prospective technology from several available alternatives and make a business decision, investing in the prospective candidate and continuing monitoring others. The consequences of a wrong choice can be disastrous, as the recent selection by Navistar of a wrong technology for reduction of the amount of nitrogen oxides and soot from diesel engines has shown (Muller, 2012). One of the instruments in the technology forecasting area is the technical evolutionary theory, based on the trends of engineering systems evolution, introduced in TRIZ (Ladewig, 2007). One trend is often presented graph-ically as an S-curve, or growth curve, showing how the main characteristic(s) of the system (Main Parameters of Value, MPV) change over time. The approach discussed in this paper is based on positioning a given sys-tem on its S-curve, using one of the MPVs as its axis. The positioning in most cases requires operating with fuzzy categories. However, this aspect is often overlooked, which can lead to non-optimal investment deci-sions. The application of Fuzzy Logic (FL) to positioning a technology on the S-curve is illustrated in the following case study, where the technologies for making small diameter holes in superalloy components were analyzed.
Keywords: Investment decision, Decision rules, Main Parameters of Value, Fuzzy Logic
- A profit-sharing scheme to provide financial support for incubatees considering the technology transfer process
by Raden Bagus Seno Wulung, Katsuhiko Takahashi, Katsumi Morikawa
Abstract: Technology incubators provide support for incubatees through technology transfer mechanisms and act as intermediaries for financial support. We consider the situation in which an incubator manager and investors attempt to reach an agreement regarding profit sharing to provide financial support. The incubator manager wants to maximize the profit of the incubatees and the income of the incubator, while the investors prefer to maximize their investment revenue. Both types of decision makers consider the technology level and technology assimilation rate of the incubatees, which are certain for the incubator manager and uncertain for the investors. We analyse the benefit of using a profit scheme agreement under negotiation and without negotiation. Furthermore, we examine the impact of technology level and technology assimilation rate in the decision making process and suggest several factors relevant in the technology transfer process to be considered by the incubator manager when setting up a technology incubator.
Keywords: Technology incubator;technology transfer;financial support;profit sharing
- Crowdsourcing for handicraft: the proposed platform for bridging idea from the customer for the product development in handicraft business in Thailand.
by Aracha Krasae-in, Pongpun Anuntavoranich, Nagul Cooharojananone
Abstract: To study how to aid handicraft sector, especially in the product development area, implementing idea from the customer to the producer of the handicraft product was created by applying the crowdsourcing concept through the online platform on the website www.craftworkshop.org The site generates ideas of new product for the handicraft producer and later became new handicraft products which able to sell in the marketplace. Although there has been only two success cases so far, but the study shows some potential of an alternative method for the new product development to help the producer for the initial idea to develop the handicraft product that could match the need of customer.
Keywords: handicraft, crowdsourcing, cocreation, product development, product design, user innovation
- Strategic Breakthroughs as Flagpoles of Innovation Process
by Mukund Dixit, Sunil Sharma, Amit Karna
Abstract: This paper empirically investigates the innovation process, from ideation to market leadership. The focus is on the nature of innovation process, action-outcome linkage, and learning from the environment. Our conceptualization of the innovation process being a series of strategic breakthroughs is built on the experiences of Samsung Electronics in creating two world-class products: microwave ovens and semiconductors. Our findings demonstrate that the process of innovation progresses through the occurrence of four types of strategic breakthroughs: Entry, Platform, Springboard, and Leadership. Based on our analysis, we infer that the process of innovation is more predictable and controllable in its early stages, but turns random in the later stages. Our explanation for such behavior adds to the current understanding of innovation process. We also describe the role played by the external (environmental) and internal (organizational) factors in facilitating the emergence of strategic breakthroughs.
Keywords: Strategic Breakthroughs, Innovation journey, Environmental Support, Organizational Support
- The Impact of Market-Based Assets on Innovativeness and Business Performance
by Sami Kajalo, Arto Rajala, Matti Tuominen
Abstract: This study examines the influence of market-based assets on innovativeness and business performance. The concept of market-based assets builds on the resource-based view (RBV) of the firm. Despite several recent studies, empirical evidence of the dependencies between market-based assets and innovativeness remains scarce. Based on existing literature, this paper identifies three distinct market-based assets: customer-based assets, channel-based assets and partner-based assets. In particular, the study investigates the effects of these assets on both product innovativeness and business process innovativeness, and on business performance in terms of effectiveness and efficiency. The data are from 5,627 firms from 13 countries analysed using structural equation modelling. The results show that the three market-based assets affect product innovativeness more strongly than business process innovativeness. The results show that market-based assets and innovativeness are key drivers of business performance.
Keywords: resource-based view (RBV), market-based assets, customer-based assets, channel-based assets, partner-based assets, innovativeness, business performance, structural equation modelling
- NPD Process in Active Pharmaceutical Ingredients Industry: A Case Study in Iran
by Fatemeh Shahmehr, Seyed Mohammad Sadegh Khaksar, Narges Safari, Noor Mohammad Yaghoubi
Abstract: Due to recent sanctions against Iran, the Iranian Active Pharmaceutical Ingredients (APIs) industry has become increasingly scrutinized. However, innovation and New Product Development (NPD) are challenges for Iranian APIs; especially as in the domestic market they face substantial competition from Asian and American competitors. This paper investigates the existing NPD situation in the APIs industry in Iran. To do so, the researchers have explored the extent to which the APIs industry follows an innovation strategy or imitation strategy by discovering factories influencing the NPD process. This paper also includes a case-study on the APIs industry in TAPIC (Taamin Active Pharmaceutical Ingredient Company) holding. A wide variety of data collection methods were used, ranging from semi-structured questionnaire and interviews, literature reviews, archival record analysis and participant observation. The findings show that possessing skilled and professional teams is the most important activity for designing a successful NPD process in APIs. In contrast, high cost of importing new technologies tends to be the main restriction that endangers a successful NPD process in APIs in Iran.
Keywords: New Product Development; Imitation Strategy; Innovation Strategy; API industry
- An Analysis of CEO Visions in Thailand
by Molraudee Saratun, Pornkasem Kantamara
Abstract: The purpose of this paper is to examine whether Thai organisational leaders develop a vision for their organisation and people. It also explores the nature of these visions to see if corporate sustainability is mentioned in the content of these visions, since this issue has been receiving more attention these days. The sample of the study comprises of 298 CEOs, or other senior representatives as assigned by the CEOs, and business owners who were asked to respond to a questionnaire containing questions regarding organisational visions. All respondents are members of the Thai Chamber of Commerce, which assisted with this study. The findings indicate that the themes of the visions obtained still focus on business-related topics. However, the content related to sustainability seems to emerge. The rationale for these findings and recommendation for further study are also discussed.
Keywords: Sustainability; Sufficiency Economy; Vision contents; Vision attributes
- Customer engagement in the Indian retail banking sector: an exploratory study
by Neena Sondhi, Baldev Sharma, Supriya Kalla
Abstract: Customer engagement as a construct may have its origin from other disciplines, but in todays cluttered and highly competitive marketplace it holds special significance in marketing. There have been varying thoughts on how the construct be defined. While some viewed it as a precursor to consumer trust and commitment, others saw it as a multidimensional construct that demonstrated a natural and sequential progression of different phases of the same phenomenon. Recognizing the significance of the construct for an emerging market place like India, the authors have examined the available thought on the subject and developed a 20 item instrument to measure and operationalize the construct for the Indian retail banking sector. An exploratory factor analysis conducted on a sample of 125 urban retail banking customers revealed robust and decisive results. Customer engagement emerged as a single construct comprising of trust, commitment, loyalty and advocacy. The second factor that emerged was co-creation. Length of association with the bank was an important factor that determined the level of engagement and co-creation. Though limited in scope, the paper presents a strong case for comprehending customer engagement as an all-inclusive phenomenon instead of viewing it in terms of its individual constituent parts.rn
Keywords: customer engagement, retail banking, Indian consumers, exploratory factor analysis,
- Application of AHP in Reverse Logistics Service Provider Selection: A Case Study
by Vipul Jain, Sharfuddin Ahmed Khan
Abstract: In the recent time, reverse logistics has become essential for organizations because of unavoidable product returns, government regulation, environmental concerns and sustainability. Reverse logistic is one way to reduce costs, increase revenue and remain competitive in market. In many organizations, by-products and waste materials have potential to become valuable inputs. Not many organizations have satisfactory reverse logistics system for recovering their rejected parts for reuse or recycle. This is because of lack of systematic investigation and importance. In this connection, this paper formulates the Reverse Logistics service provider selection as a multi criteria decision making problem and develops a methodology to select the best two reverse logistics service provider for an injection molding parts manufacturer company using Analytical Hierarchy Process (AHP). A real life case study demonstrates the application of the proposed method and sensitivity analysis is carried out to confirm the robustness of the proposed methodology.
Keywords: Reverse Logistics, Analytical Hierarchy Process, Sensitivity Analysis, Injection Molded Parts, Automotive Parts Manufacturer
- Determining Factors Influencing Radical and Incremental Innovation With a Case Study in the Petrochemical Industry
by Arash Shahin, Azar Barati, Azam Khalili
Abstract: The purpose of this research is to prioritize factors influencing radical and incremental innovation. The research sample included 50 managers of Bandar Imam Mahshahr Petrochemical Company. To analyze the data, stage regression has been used. Findings indicate that variables like communication, new technological knowledge, repetition and exercise have the greatest impact on performing activities and accessing national and regional systems to promote radical and incremental innovation.
Keywords: Radical innovation, Incremental innovation, Influencing factors, Petrochemical industry
- ADOPTING ANALYTIC HIERARCHY PROCESS TO PRIORITIZE BANKS BASED ON CRM EFFECTIVENESS THE CUSTOMERS PERSPECTIVE
by C Padmavathy, V J Sivakumar
Abstract: Over the past few years, Indian private sector banks has placed stringent competition to public sector banks as the private sector banks pioneered in adopting newer technologies, broad product mix and, flexible offerings in products/services. To win the battle of competition, Indian banks today are focusing towards practicing customer relationship management effectiveness (CRME) to develop and maintain long-term customer relationships. This paper is an attempt to identify the most effective CRM bank with respect to varied CRM practices among the select banks. Sample of 42 retail bank customers were studied using Analytic Hierarchy Process (AHP) for this purpose. The study findings set aside significant implications to each bank corresponding to each CRM practice (dimension).
Keywords: Customer relationships, CRM, CRM Effectiveness, AHP, India, public sector banks, private sector banks
- Knowledge Driven Lean in Health Care: A Necessity
by Jaideep Motwani, Natalie Petersen-Menefee, William Mothersell
Abstract: Quality and efficiency within health care are not being realized to the degree that they should be; waste in particular is rampant throughout organizations, and indeed in the entire sector. Should the American health care system adopt lean processes will lean production philosophies translate effectively into this service sector? Also, are electronic health records a safe and valuable addition to the lean arsenal of tools meant to reduce waste in an effort to improve quality and create maximum value? This paper asserts that the lean production system can be applied within a service industry like health care and that implementing this type of knowledge-driven process will hopefully facilitate a revitalization of the United States health care sector and propels it above its dismal 37th place in the world.
Keywords: knowledge-driven, electronic records, health care, lean, United States
- Open Innovation between Energy Companies in Developed and Developing Countries: Resource-based and Knowledge-based Perspectives
by Rhian Indradewa, Jann Tjakraatmadja, Wawan Dhewanto
Abstract: This paper presents proposals for improving and accelerating research and development processes through open innovation based on contractual project-based alliances between energy companies in developed and developing countries. The present study adopted an inductive approach, employing archival studies and a literature review to develop a model for research and development (R&D) contractual project-based alliances to be investigated in future research. This model was an attempt to collaborate between the phases of alliance strategy activities and the phases of R&D activities applied in contractual project-based activities. The present study distinguished three phases of open innovation: the pre-project phase of partner selection, the project phase of innovation, and the post-project phase of commercialisation. This model incorporated a knowledge management perspective focusing on intangible factors and a resource-based view focusing on tangible factors.
Keywords: Open innovation, contractual project, energy sector, knowledge management and resource-based approaches.
- Evaluating the non- financial performance of state-owned, semi-private and private universities using FAHP technique
by Mohammad Taghi Amini, Elham Keshavarz, Arezu Keshavarz, Seyedmohammad Bagheri
Abstract: Since universitiesُ nonfinancial performance reflects their degree of competitiveness, the evaluation of universitiesُ non-financial performance is very important due to highly competitive environment in this sector .The aim of this study is to use FAHP technique to evaluate the performances of universities in Iran. In this study, state-owned university, semi-private university and private university are prioritized according to some services marketing mixed elements including personnel, physical evidences, service quality, electronic channel, physical situation and process. The main aim of utilizing this approach was to maximize the nonfinancial performance at these universities. The model of this study was tested on a sample of 12 experts in universities in Iran. Universities under study in this research include: 1- Damghan, Semnan and Shahroud Universities as representatives of state-owned University, 2- 5 branches of Payame Noor University as representatives of semi- private University and 3- 5 centers of Azad University as the representatives of private University. The main instruments used for gathering the data in this study were university records and questionnaires .The results indicate that in Iran, private university has the first priority regarding the non-financial performance level with an obvious weight variance comparing to semi private and state-owned universities.
Keywords: Fuzzy Analytic Hierarchy Process, performance evaluation.
- Strategies of Remodeling China Towards an Innovation-Driven Economy
by Jarunee Wonglimpiyarat
Abstract: This paper is concerned with Chinas strategies in remodeling itself towards an innovation-driven economy. In particular, the study is focused on exploring the policies and innovation strategies to support high-tech SMEs in China. The study has shown that the Chinese government has introduced many policy initiatives (government intervention policies) after the country joined the World Trade Organization (WTO). However, the country still needs policies to improve interactions among institutions within the innovation system. The analyses provide policy insights that can be applied to strengthen Thailands innovation system. The lessons learnt from the study can also be applied to other emerging economies to use as policy guidelines in improving the efficiency of the national innovation system.
Keywords: China, innovation economy, high-tech SMEs, innovation system, World Trade Organization (WTO)
- Economic Innovation Challenges: Lessons Learnt from the Major Financial Crises in Asia
by Jarunee Wonglimpiyarat, Rachanee Tripipatkul
Abstract: This paper discusses the lessons learnt from the two major financial crises with regard to their impacts on the economy of Thailand. In particular, the study compares the two major financial crises which have far-reaching impacts on the global financial system - the Tom Yam Kung crisis (the Asian financial crisis in 1997) and the Hamburger crisis (the US financial crisis in 2008). The discussions on their impacts on the Thai Economy are based on the Schumpeterian model of economic development. The results have shown that Thailand has brought the lessons from the Tom Yam Kung crisis to effectively protect its financial system in the midst of the global financial downturn caused by the Hamburger crisis. The case of Thailand represents a paradigmatic case with valuable insights and experiences that can be applied to other economies.
Keywords: Schumpeterian analysis, Tom Yam Kung crisis, Hamburger crisis, Basel III, Bank of Thailand
- KNOWLEDGE AND INNOVATION (K&I) MEASUREMENT IN MINING AND LIFE SCIENCES SECTOR. STUDY IN CHILE, ARGENTINA, PER
by Mónica de Arteche, Sandra Welsh, Marina Santucci, Alejandro Flores, Eduardo Carrillo Zambrano
Abstract: This study includes the application and validation of a Balanced Scorecard for measuring Innovation and Knowledge. It also includes the development of a simulator with key drivers for every sector that show the causal relationship between these indicators and the improvement of innovation levels.
The research questions were: How does the organization benefit from applying a Balanced Scorecard of Knowledge and Innovation (K&I) to measure the tangible and intangible aspects in achieving these strategies? How can organizations grow and create value through the measurement of knowledge and innovation generated?
The methodology was qualitative, quantitative, and explanatory, using both a sample of 24 emblematic cases and country studies. The results show that Chile is the leader in the Mining sector; Argentina is more developed in the Life Sciences sector; Colombia performs better in human resources and Peru is professionalizing the mining enterprises.
Keywords: Innovation, Knowledge, Intangible Assets Measurement, Balanced Scorecard, Mining business, Life Science business, Biotechnology, Simulator
- Impact of business environment on balancing innovation process in Indian SMEs
by Vinay Singh, Avni Agrawal
Abstract: Present research proposes a theoretical framework of assessing extents of innovation capability and balancing interplay of exploration and exploitation processes of SMEs. The innovation capabilities of SMEs are measured on the extent of harnessing exploration and exploitation whereas the balancing of interplay between exploration and exploitation activities explained by sequential and simultaneous approach in heterogeneous and hostile business environment. Theoretical frameworks are proposed in the form of hypotheses and verified through primary data collect from 213 respondents of 77 manufacturing SMEs in structured questionnaire. The result indicates that SMEs of Innovator class are more prone to sense environmental heterogeneity than the other SMEs. In heterogeneous business environment, they coordinate exploration and exploitation through ambidextrous approach. The SMEs perceiving less hostility as compared environmental heterogeneity follow sequential approach to balance their innovation. The finding is very useful to strategic decision makers/managers/owners of such SMEs to re-define and re-design the extent of balancing firms' innovation. Study also suggests aligning the production setup and innovation capabilities accordingly to balance all technological inputs collected from external environment/customers, and new product/outputs to the market.
Keywords: Small and Medium Scale Enterprises (SMEs), Innovation in SMEs, Business Environment and Innovation, Balancing Innovation, Exploration and exploitation, sequential and simultaneous approach, heterogeneous and hostile environment
- The Impact of Organisational Justice on Ethical Behaviour
by Naimatullah Shah, Sadia Anwer, Zahir Irani
Abstract: Within the workplace, justice is influenced by the interpersonal relationships between colleagues and/or management among other things. The main reason for this research is to examine the correlation between organisational justice and the ethical behaviour of employees. Based on the literature, the conceptual model developed in this paper integrates distributive, procedural, interpersonal and informational justice in relation to ethical behaviour. By applying an adapted survey questionnaire, data were collected from teaching staff at public sector higher education institutions. Multiple regression analysis was applied to 360 samples and this showed that distributive and procedural justice have a more positive and significant impact than informational and interpersonal justice on the ethical behaviour of employees. This is an empirical study which may contribute to the literature on ethical behaviour, organisational development and employee development.
Keywords: organisational justice, distributive justice, procedural justice, interpersonal justice, informational justice, ethical behaviour.
- HOW DO INFORMATION TECHNOLOGY COMPANIES USE INNOVATION TO COMPETE? EVIDENCE FROM THE UNITED STATES AND SOUTH KOREA
by Cheolki Kim, James Ondracek, Mehmet Ali Koseoglu, Mehmet Barca
Abstract: This paper focuses on innovation strategies of IT companies of US and South Korea. Empirical study verifies the effective way to use exploration and exploitation for a long-term period by collecting and analyzing of IT companies from NASDAQ and KOPSI. In the US, for a long-term surviving, IT companies need more exploratory innovation and sequential approach to two innovation activities frequently for a long-term period. In South Korea, IT companies need sequential approach, but to reduce frequency of the switching two innovation activities is also needed. Specially, in both countries results, not to lean toward R&D intensity is needed.
Keywords: Innovation, Competitive, USA, South Korea, information technology companies.
- Relationship between Knowledge Management Enablers (KME), Organizational Learning (OL), and Organizational Innovation (OI): An Empirical Investigation
by Ali Rezaei
Abstract: The purpose of the present paper is to analyze the impact of knowledge management enablers (KMEs) and organizational learning (OL) on organizational innovation (OI). This study emphasizes on the role of the organization learning (OL) as a mediator between the KMEs and the OI. The population of the present study is formed by all large and small scale manufacturing companies, in the national level, including the electric utility, pipe facet industries, food industries, and clothing industries. Questionnaires have been distributed among the mid-level managers and supervisors where only 323 of them have been received back. The current paper implements a structure equation modeling (SEM) method to test the researchs framework and hypotheses. The results of this implementation show that KMEs have a basic and significant role on the OI through the OL.
Keywords: Knowledge Management Enablers; Organizational Learning; Organizational Innovation; Structure Equation Modeling.
- Innovative Marketing in SMEs: An empirical study
by Hamideh Zekerian, Seyed Ehsan Mokhtari, Mohammad Ali Jabbari Sabegh, Mohammad Hosseinpour Jomadi
Abstract: As innovation in marketing plays a fundamental role in the success of SEMs in the current competitive market, it is crucial to understand the effects of various marketing activities on innovative marketing. This study investigates the impact of important variables on innovative marketing of SEMs. It was conducted on the employees of SEMs in Malaysia in which 300 survey questionnaires were distributed among them. The results of data analysis indicate that corporate and strategy fit, integrated marketing, modification, and customer focus significantly contribute to innovative marketing in SMEs. In other words, SMEs can improve their marketing innovation by appropriate adoption of corporate and strategy fit, proper integrated marketing activities, modification of marketing processes, and analysis of customers preferences and taste.
Keywords: Innovation, Innovative Marketing, Small to medium-sized enterprises, SMEs
- WASTE MANAGEMENT OF HEALTH SERVICES: A STUDY ON THE SITUATION IN THE BRAZILIAN HOSPITAL SECTOR
by Leonardo Moura, Ronaldo da Silva
Abstract: In spite of the arising benefits of voluntary certificate, the adoption of environmental management systems is associated with external and internal barrier and hospitals usually have a reactive behavior towards the environmental regulations. The study aims to analyze the contribution of environmental regulations for the healthcare waste management procedure (HCWMP) through a bibliometric survey of theses and dissertations available in the Brazilian digital library of theses and dissertations in the period of 2007-2012. As a result, were obtained 14 dissertations and 3 theses with a predominance of single case studies of qualitative and quantitative research.
Regarding the main flaws in HCWMP, can be highlighted the fact that authors reported the lack of employees
Keywords: health establishments; waste management of health services; environmental regulations.
- Investigating the Links between Market Orientation, Marketing Capabilities and Performance in the Context of Retailing: A Structural Equation Model Approach
by Arto Lindblom, Sami Kajalo
Abstract: The present study investigates the links between market orientation (MO), store-level marketing capabilities and performance. In particular, we are interested in to analyse the relationship between MO and store-level marketing capabilities, and the impact of these store-level marketing capabilities on performance. The store-level marketing capabilities studied here are (i) assortment management capability and (ii) customer-service management capability. For the purpose of the study, we develop a conceptual model and related hypotheses. The hypotheses are tested using structural equation modeling (SEM) with a sample of 202 small Finnish retail entrepreneurs in the field of specialty goods retailing. Our findings offer the several substantive contributions. As a first contribution, the findings of the present study indicate that the relationship between retailer MO and store-level marketing capabilities is both positive and significant. As a second contribution, the study shows that both assortment management capability and customer-service management capability have a positive impact on customer performance. As a third contribution, the findings of our study indicate that store-level marketing capabilities do not have a direct impact on financial performance.
Keywords: market orientation; marketing capabilities; retailing; retail entrepreneurs
- Support Tools to Assist Scientific Writing: Assessment of Key Features to Construct a System for Production Engineering
by Ralf Landim Reith, José Dutra de Oliveira Neto, Anderson de Andrade Santos
Abstract: Scientific articles are the most frequently used channels for the dissemination of research results by thousands of researchers around the world. However, writing scientific papers is not an easy task, even for an experienced writer. There are several tools designed to assist in this important step, yet many knowledge areas require customized tools. This work presents the assessment of some of these tools in order to identify the type of support offered and the needs reported by the users, and then propose the key features desired in a tool suited for Production Engineering. The results are shown in a comparative table that lists the tools that were studied with the identified features, which enabled determining the main aspects for building a tool that can help researchers write papers related to Production Engineering.
Keywords: Scientific Writing Support Tools, Scientific Articles, Production Engineering
- Organizational players role in CSR: A study of qualifying performance determinants of non-governmental and public sector organizations
by Andree Lopez-Fernandez, Rajagopal x
Abstract: Corporate social responsibility (CSR) is a concept with many definitions, as such, ongoing debates on what it entails and how it should be implemented have been offered by practitioners and scholars. Further, organizations core businesses have served for questioning when it comes to declaring a firm socially responsible. Therefore, is it appropriate for organizations to be considered socially responsible merely because their core business is to service society? This paper contributes to the understanding of the fine line between declared socially responsible organizations and the engagement in corporate social responsibility by analysing four organizations, two from the public sector and two non-governmental organizations operating in Mexico.
Keywords: Corporate social responsibility; non-governmental organizations; public sector organizations; Mexico
- Macroeconomic Causes of Variance in House and Property Prices
by Larry Allen
Abstract: This paper is a frankly empirical piece with the purpose of explaining the variance of housing prices as a function of macroeconomic fundamentals. The analysis is based upon data from six advanced countries, Australia, France, Germany, Japan, United Kingdom, and the United States. The sample range stretches from 2001 thru 2012. A panel regression procedure is applied to the data set. The findings suggest that housing price variance can be interpreted as a function of important macroeconomic variable. These macroeconomic variables include monetary growth, first differences in the current account as a percent of GDP, first differences in the imbalance between investment and savings, and the public debt as a percent of GDP. The rate of growth of housing prices also plays a role in individual countries.
Keywords: House Prices; Macroeconomic Fundamentals; Current Account; Housing markets; Monetary Policy; Bubbles; Capital Flows
- Customer Satisfaction of Online Apparel Businesses in Malaysia: Point-Purchase and Post-Purchase Comparison
by Noorshella Binti Che Nawi, Abdullah Al- Mamun
Abstract: Increasingly, customer satisfaction has been viewed as being critical to the success of online businesses, with the growing understanding that customer satisfaction is the key to sustain the marketplace especially for online apparel businesses in Malaysia. This study intends to identify how factors influence Malaysian customers online shopping satisfaction from the perspective of total online shopping experience, and its applications in the Malaysian e-retailing industry. This study develops a model for measuring customer satisfaction at different purchase phases: Phase 1: exploratory study, Phase 2: at point-of-purchase and Phase 3: post-purchase. Complete data was collected from 268 respondents at the point-purchase phase and 154 respondents at the post-purchase phase. Findings of this study indicates that the mediating role of overall satisfaction on relationships between e-service quality and attitude towards the website are significant. Findings also noted a siginificant difference in overall satisfaction of items between point-of-purchase and post-purchase for all respondents. This study, therefore, suggests that the Malaysian e-retailing industry should create incentive programs to capture new customers or to retain existing ones. They should also consider the post-purchase phase by providing customers with better service on delivery and post-sales customer service.
Keywords: E-commerce; Customer Satisfaction; Behavioral Intention; Attitude.
- CEO Compensation and Operational Risk
by Khalid Al Amri
Abstract: This study examines the impact of operational risk on CEO Compensation in the property-liability insurance industry. We find that property-liability CEOs are not penalised for operational risk in terms of cash based compensation, while they are penalised in terms of their option based compensation. Our findings also suggest that CEOs are largely insulated from firm level operational losses in terms of their total compensation. These findings have implications for implementing optimal risk-based contracting decisions for CEO compensation contracts.
Keywords: CEO Compensation, Operational Risk
- Strategies of innovation applied to luxury market firms:
The case of Montblancs fountain pens
by Marcos Ferasso, Thierry Salem, Ivan Antonio Pinheiro
Abstract: The present research aims to present and discuss the use of strategies of innovation on a firm of luxury market, through a longitudinal case study of Montblancs fountain pens. The data analysis reveals that Montblanc in its first fifty years concentrated on producing fountain pens like their competitors. From the 1960's, suffering the breakthrough caused by the appearance of the ballpoint pen, Montblanc decided to change their market position in a different way if compared with their competitors, by moving to the luxury market. Montblanc positioned their products as luxury goods or jewels, introducing luxury appeals to them as well as new production process to guarantee greater quality and an increasing care to sustainable innovations for their fountain pens. Strategies of innovation found in this case were classify as sustainable innovations reached due to the coherent, systemic and aligned integration of several types of innovations in order to obtain competitive differentiation in long-term.
Keywords: Innovation; strategy; Montblanc; fountain pen industry.
- The Relationship between Organizational Climate and Organizational Innovativeness: Testing the Moderating Effect of Individual Values of Power and Achievement
by Secil Tastan, Seyed Mehdi Mousavi Davoudi
Abstract: This study aimed to investigate the effect of organizational climate on organizational innovativeness and to test the moderating role of managers individual values of power and achievement. Data were collected from a sample of 312 managerial level employees that represented the innovative companies from different sectors operated in Turkey. Confirmatory Factor Analysis (CFA) was used to evaluate the construction of the questionnaire. The relationship among organizational climate; organizational innovativeness and individual values were tested applying the Structural Equation Modelling (SEM) technique. The results indicated that individual values had positive influence on organizational innovativeness, but the effect of organizational climate was not significant on organizational innovativeness. Further, the results demonstrated that individual values of power and achievement had positive effect on organizational innovativeness and significantly moderated the relationship between perceived organizational climate and organizational innovativeness. Due to the interpretation of the findings, the concluding remarks were specified, the theoretical and practical implications of the research findings were discussed, and potential future suggestions and limitations were provided.
Keywords: Organizational innovativeness, Organizational climate, Individual values, Power and achievement, Structural Equation Modelling
- The Relationships between Social Capital andOrganizational Entrepreneurship at Small and Medium Enterprises of Zanjan Province
by Reza Kiani Mavi, Zahra Amin Afshar
Abstract: The Purpose of this paper is performing an empirical investigation on the impact of social capital (relational, structural and cognitive) on organizational entrepreneurship and the impact of organizational entrepreneurship on existence of opportunity, discovery of opportunity, decision to exploit opportunity, entrepreneurial strategy, resource acquisition and organizing process. The statistical population of this study is SMEs in Zanjan province. 78 questionnaires with multiple choice questions were distributed among sample individuals. The research is based on structural equitation model and partial least square method and Smart-PLS software were used for analyzing the data in order to evaluate the relationship between variables and their impact on each other. Empirical results confirm that social capital has positive impact on organizational entrepreneurship. Among social capital dimensions, structural and relational capitals have positive impact on organizational entrepreneurship, but there is no positive relationship between cognitive dimension and organizational entrepreneurship. Clearly, organizational entrepreneurship process become stronger with the presenceof social capital.The results of this study lead SMEs managers to better understanding of these relations and improve their performance.
Keywords: Social capital, Organizational entrepreneurship, Entrepreneurial process, structural equations model (SEM)..
- A STUDY OF THE EFFECT OF CORPORATE DIVERSIFICATION STRATEGY ON TECHNOLOGICAL INNOVATION AND STRENGTH IN TECHNOLOGY-ORIENTED MULTINATIONAL CORPORATIONS ACROSS COUNTRIES
by Jooh Lee, Niranjan Pati
Abstract: This study attempts to empirically explore the strategic impact of corporate diversification on technological innovation and strength measured by investments in Research and Development (R & D), and number of patents in high-tech industries across several industrialized countries. The major findings of this study demonstrate that corporate diversification strategies in markets and products are significantly related to various indices of technological innovations and economic performance in technology oriented multinational corporations across different countries and industry sectors. One of the significant findings of this study is that diversification strategies can influence a firms technological capabilities by enhancing the intensity of R&D investments and increasing the number of patents. This study is intends to provide academicians as well as practitioners with more insightful explanation of strategic determinants of technological innovations and strengths in leading Technology-oriented Multinational Corporations (TMCs).
Keywords: Technology innovation and strength; R&D investments; Corporate diversification; Patents; Technology-oriented multinational corporations.
- Developing a Brand Equity Model for Tourism Destination
by Mohamad Ghafari, Bahram Ranjbarian, Seed Fathi
Abstract: This paper aims to explore the specific dimensions of destination brand equity and their casual relationships to develop a model for tourism destination brand equity. For this purpose, two studies were conducted. A preliminary study was to identify the dimensions of tourism destination brand equity and the main study was conducted to test the proposed model among the tourists who visited Isfahan. The preliminary study identified eight dimensions for destination brand equity including destination brand awareness, perceived uniqueness, perceived quality, perceived brand value, destination brand image, reputation, destination brand satisfaction, and brand loyalty. The results indicated that with regard to the destination brand (1) brand awareness influences its perceived image significantly; (2) perceived uniqueness influences destination brand image significantly; (3) perceived value influences destination brand loyalty and satisfaction significantly; (4) perceived quality influences perceived value, satisfaction, and destination brand loyalty significantly; ( 5) destination brand image influences destination brand loyalty and destination brand value significantly; (6) destination brand reputation influences destination brand image and loyalty significantly; (7) and finally destination brand satisfaction influences destination brand loyalty significantly.
Keywords: Destination Brand Equity, Brand Loyalty, Brand Satisfaction, Brand Uniqueness
- Performance Measure of Online System Acceptance & Customer Satisfaction Through Airlines Websites In Malaysia
by Dhanapal Durai Dominic Panneer Selvam, Humaira Khan
Abstract: Online system and websites are the new emerging channels by the companies to attract the customers around the globe. The online system provides the valuable information about the companys product and services. Customers can acquire all information from the companys website. This paper aims to measure the customer satisfaction with airline websites along with customer acceptance of online system. This means to be a new research area for the information system acceptance researcher. Data was collected from 130 respondents who use airline website for making their travel related decision. A survey approach was used to gather data by administering the questionnaire to the target customers. Statistical tests including correlation, regression and exploratory factor analysis are applied to test on data resulted in support of all hypothesis. The results indicates that all independent variables has strong significant impact on customer satisfaction with online system acceptance and with customer satisfaction.
Keywords: Online System, Airline website; Customer Acceptance, CustomerrnSatisfaction, Technology Acceptance Model, Online System Acceptance
- Innovativeness and Uniqueness as Motivations for Online Shopping Tendency and the Mediating Role of Information Acquisition
by Adityan H, Harikrishnan K, Joseph Jeya Anand S, Saju B
Abstract: Rapid developments in information technology have substantially changed the landscape of consumer shopping behavior. Consumers‟ buying opportunities have expanded through an increased accessibility to products and services online with ease and convenience. Call for future research to understand the motives for online purchase behavior emerges from literature review. Psychological traits information acquisition (IA), consumer innovativeness (CIN), consumers‟ need for uniqueness creative choice for counterconformity - dimension (CNFU-CCC) and online shopping tendency (OST) have been hypothesized to empirically test this consumer behaviorally insightful model, first of this structure, for this research. Structural Equation Modeling (SEM) results indicated that the hypothesized model was consistent with data and the psychological antecedents CIN & CNFU-CCC and consequence OST constructs are having positive relationship with IA. Mediating role of IA has been established. Findings of this study will enable the marketers to evolve strategies to enhance online shopping tendency thereby resulting in heightened online shopping.
Keywords: information acquisition, online shopping tendency, consumer innovativeness, consumers'need for uniqueness, mediation
- PRODUCT DEVELOPMENT: THE SUPPLY CHAIN MANAGEMENT PERSPECTIVE
by Ana Letícia Toloni de Matos, Sílvio Roberto Ignácio Pires, Mauro Vivaldini
Abstract: Currently, many companies consider product development to be a strategic activity. As product life cycles shorten and new products are released with increasing frequency, supply chain characteristics must adapt more frequently to ensure the effective and efficient delivery of new products. This article aims to identify and report the main elements considered in the product development process that connect to supply chain management. To achieve this goal, a literature review was conducted that shows that in the last two decades, both concepts have had, separately, great development in terms of process definitions, practices, and reference models. However, only recently can it be noted as an emerging trend in academia to treating them jointly. On the other hand, the review indicates that in companies much can be explored looking at the issues separately and even more when the topics are discussed jointly.
Keywords: SCM; supply chain management; product development; coordination; product life cycle; time to market; new products; strategy; time; cost; quality.
- Discussion paper on the key motivational factors impacting innovative climate
by Rawan AbuKhait, Rekha Pillai
Abstract: Innovation is an imperative component for the long-term survival of organizations and a successful tool to gain a competitive advantage over other firms. Innovation is a significant contributor for organizational success as innovation provides satisfactory returns to the company and increases value for its customers. Looking at the innovative climate which considers the procedures and reward system as a contributing factor, the importance of looking at job satisfaction variables and organizational work environment is considered significant. The current paper focuses on three motivation theories which are Equity theory, Herzbergs Motivation-Hygiene theory and Goal-setting theory as the fundamental base supporting several innovation factors. The main aim of this paper is to present a holistic view of the major motivational factors contributing to innovation climate that emerged significant after a systematic literature review. A detailed analysis of prior studies reveals that innovative climate is an outcome of various factors such as pay, learning environment, career development, job content, supportive environment and work hours.
Keywords: Innovation; Motivation; Innovative climate
- Role of Innovation in Social Value Creation at Bottom of the Pyramid
by Amanpreet Singh, Lalit Mohan Kathuria
Abstract: Many multi-national corporations (MNCs) are turning to emerging markets (EMs), due to stagnation and slow growth in the developed markets. In EMs, there is an untapped market called bottom of the pyramid, which is the largest and the fastest growing segment in the entire world. There is a big scope for MNCs to achieve success in EMs by focusing on innovation at BOP. The main objective of this paper is to identify and understand innovation dimensions that lead to social value creation in a BOP market. To achieve the above mentioned objective, the case studies from published literature were selected. We also draw on emerging research on BOP from the innovation and social entrepreneurship fields as well as from social value creation. The literature on marketing to the bottom of the pyramid was extensively reviewed and dimensions of innovation and social value creation at BOP were identified. Authors established relationships between these identified dimensions of innovation and social value creation in the form of research propositions. Finally, a model depicting relationships between above mentioned variables has been proposed. At the end, we have discussed some important implications for both theory and practice.
Keywords: bottom of the pyramid; innovations; social value creation
- THE ANTECEDENTS ON RURAL DISTRIBUTION PROBLEM AND RURAL RETAILERS PREFERENCE TOWARDS PEPSICO INDIA HOLDINGS PRIVATE LIMITED IN TAMILNADU, INDIA
by Mohamed Jasim
Abstract: The Indian retail industry is one of the most vibrant industries in the country. It is currently ranked at 20th position among the top 30 developing countries identified by management consulting firm AT Kearney in its 2014 Global Retail Development Index (GRDI). India remains an appealing, long-term retail destination for several reasons starting with its demography half of Indias population is less than 30 years of age and roughly one-third of the population lives in cities. The disposable income of Indians is increasing - allowing them to spend more and try new products, brands, and categories. With the growth in the retail industry, the corresponding demand for real estate is also being created. Further, with the online medium of retail gaining more and more acceptance, there is a tremendous growth opportunity for retail companies, both domestic and international. We have studied various factors for retailer preference towards PepsiCo products and problems faced in the distribution channel in the rural market in Tamilnadu, India. In this research study, we examine the retailer preference towards PepsiCo products and problems faced in the distribution channel in rural areas, retailer preference for PepsiCo products in rural areas; Researcher collected the list of rural retailers in Tamilnadu and from the local distributor database list and from the PepsiCo Ltd distributor list. Only rural retailers that had operation for at least three years were included in the study. The data was collected through in-depth personal interviews with the rural retailers. These strategies are leads to capturing retailer preference towards PepsiCo products and problems faced in the distribution channel.
Keywords: Rural Market, Retailer Preference and Rural Distribution Problem
- DIFFERENT BUSINESS MODEL TYPES AND CHANGING NETWORK STRUCTURES IN THE MUSIC INDUSTRY
by Dina Dellyana, Togar Mangihut Simatupang, Wawan Dhewanto
Abstract: The music industry is developing and starting to catch up after its downturn in previous years. The number of actors is growing and coming up with different new business models to creatively enter the new market and beat competitors. Unique offerings require new partnerships, which can change the network structure in the business model. Therefore, many companies revise their business models as they deal with various actors with specific terms in constant change. Previous research often only captures a single actor's business model and tends not to focus on providing the changing network structures in regards to the different types of business models emerging in the industry. The research reported here was carried out to identify the current network of actors, the available types of business models and the changing relationship structures in the music industry. The results show changing network structures in response to the emerging business model types in the Indonesian music industry. Further research is proposed to gain a better understanding of the implementation and evaluation of the business model types and the changing network structures.
Keywords: business model, business model types, network of actors, music industry, creative industry
- Rough Sets: Technical computer intelligence applied to financial market
by Paulo Henrique Kaupa, Renato Jose Sassi
Abstract: The Rough Sets was proposed as a mathematical model for knowledge representation and treatment of uncertainty, and it has been used subsequently in the development of techniques for classification in machine learning. The objective of this work was to apply Rough Sets in the selection of stocks for investment in the S
Keywords: stock exchange; rough sets theory; selection of stock portfolios; ibovespa, computer intelligence.
- Information technology adoption on 3G mobile phones in India: the empirical analyses with SPSS 20, SmartPLS2.0M3 and LISREL8.80 - PART 2
by Manivannan Senthil velmurugan, Masa Sakthi velmurugan
Abstract: The first part of this study used two indicators such as awareness, perceived ease of use, which influenced consumers adoption on information technology in 3G mobile phones in India. This second part of this study investigated consumers perceived risk, satisfaction and their influence of information technology adoption on 3G mobile phones. This study also uses a primary data analysis through SPSS 20 for descriptive analysis, SmartPLS2.0M3 for co-variance-based structural equation modeling, and LISREL8.80 for confirmatory factory analysis. The results showed that the two hypotheses are valid. The study has drawn implications, limitations, and directions for future research.
Keywords: 3G mobile phone, information technology, usage, consumer, perceived risk, and satisfaction.
- Biotechnology Firms - Improvement in Innovation Speed
by Hadi Farid, Fatemeh Hakimian, Mohd Nazari Ismail, Pradeep Nair
Abstract: According to the competitive and rapidly changing world of biotechnology, innovation speed is considered to be one of the fundamental organizational issues facing managers. Defining and implementing the appropriate strategy depends on several factors, which may differ from one industry to another. This study was designed to investigate the selected antecedents of innovation speed specifically for agro-biotechnological products in Malaysia. Self-developed questionnaires were distributed among the managers and 142 questionnaires were selected to be used for the purpose of data analysis. Data management and analysis were performed using Structural Equation Modeling-Partial Least Squares. The statistical results showed the significant relationship between Managerial Skill, Market-related Knowledge and Experience, and Innovation Speed. The findings of this research did not support the relationship between Extension and Innovation Speed. This study has also provided a practical guideline for Malaysian agro-biotechnological managers who aim to increase the innovation speed of a new agro-biotechnological product.
Keywords: Biotechnology firms; Extension; Innovation speed; Management
- Economic Order Quantity under Permissible Delay in Payments for New Products in Dynamic Pricing-Advertising Condition
by Udayan Chanda, Alok Kumar
Abstract: Economic ordering policies for a retailer are often strategies subject to the nature of demand, and the kind of benefits received from the suppliers. Globalization and continuum innovations of new products/technologies put enormous pressure on retailers to attract new customers and look after the current ones concurrently. Thus, a realistic Economic Order Quantity (EOQ) model should link the present business requirements, which can enable the retailer to achieve its business objectives. Based on hazard rate demand, an integrated EOQ model is discussed in the paper for permissible delay in payments, under the assumption that supplier may offer credit periods to the retailer. The demand rate is assumed to be governed by the hazard rate function under dynamic pricing and advertising. The proposed framework is demonstrated with a numerical example and a comprehensive sensitivity analysis is also performed to validate effectiveness of the model.
Keywords: EOQ, Hazard Rate, Dynamic price, Dynamic advertising expenditure, Permissible delay in payments
- Green supply chain initiatives in brand building-an Indian perspective
by Sangeeta Trott
Abstract: Green initiatives has become the most potent tool in the hands of the companies .The objective of the paper is to get an overview of green supply chain practices in various companies in India .Another objective is to understand the contribution of green supply chain in brand building in India. The study is conducted across 20 different companies in India from various sectors via, (automobile, FMCG, chemical and textile) drawn on the basis of random sampling method. This paper makes use of both primary and secondary data. Primary data is collected through survey method via telephonic interview and mailed questionnaire and secondary data is collected from published sources.The results of the study indicate that green supply chain initiatives can prove to be the most potent tool for brand building. The paper provides practical explanation on the Indian front that implementation of green supply chain initiatives can help to build the brand.
Keywords: green supply chain initiatives, brand building, Indian scenario, greener country, greener planet,Brand equity,motivating factors,government regulations,enabling industry,potent tool
- Employees perception as internal customers about online services: A case study of banking sector in Nigeria
by Habib Ullah Khan, Madhavi Lalitha, Joseph Funsho Omonaiye
Abstract: The objective of the study is to identify the perception of bank employees regarding the practicality and effectiveness of online banking services in Nigerian perspective. Employees of three reputed banks are considered for this study and the demographic profile of study subjects is evaluated in this study. The study is conducted by collecting the primary data from the respondents using questionnaire as a tool. Pertinent statistical techniques are employed to analyze the data gathered and interpret the pros and cons of e-banking from employees perspective. Various demographic variables like age, gender, marital status, educational qualifications and designation are examined to gain a better understanding of the employee and their perception on these parameters of online banking. The results of chi-square test for independence are tested at 5% level of significance. The results revealed that there is a profuse need for qualified, skilled and experienced professionals in the banking sector of Nigeria. Also, it is observed that though there are some impediments regarding the facilities and infrastructure in the country, employees nurture a fair opinion about the plausible advantages of e-banking. This research provides a foundation to identify the weakest link in the service supply and delivery chain rendered to the customers using online banking.
Keywords: online-banking;employees’ perception; banking sector; case study
- Costumer Behavior Model of Brown Sugar Commodity
by Wa Kuasa Baka, Usman Rianse, Dasmin Sidu, WEKA WIDAYATI, EDI CAHYONO, WEKA GUSMIARTY ABDULLAH, ILMA SARIMUSTAQIYMA RIANSE, ZULFIKAR LA ZULFIKAR, ABDI LA ABDI, LA RIANDA BAKA
Abstract: There is a gap between consumption and production of sugar in many countries and especially in Indonesia. Brown sugar business is important to be developed as a healthy alternative sweetener.
Business development is supposed to be based on consumer behavior. We found some behavior of brown sugar customer in purchasing, such as ensuring density, taste, neatness of packaging and later on the price of brown sugar to be bought. There are several factors that influence customer behavior in purchasing of brown sugar. Fourth independent variables on 5%(age of respondent, income, texture, and dummy for purchasing reason), and third independent variables on 25%(service of seller, market cleaning, and dummy for vocation). The implication of this research is to obtain information about the factors that must be considered in formulating a marketing strategy based on customer behavior. It is very useful to the existence of the brown sugar business, and to increase the brown sugar business scale to meet the needs of national and international markets for alternative sources of healthy sweetener
Keywords: customer behavior model, brown sugar, purchasing quantity, purchasing reason, customer characteristics, attributes of brown sugar
- BUSINESS MODEL INNOVATION AND ORGANIZATIONAL MINDFULNESS AS DETERMINANTS OF CORPORATE SUSTAINABILITY: AN EMPIRICAL STUDY
by Nitin Vihari, MK Rao
Abstract: The aim of this paper is to study the influence of the determinants such as Business Model Innovation (BMI) and Organizational Mindfulness (OM) on the Corporate Sustainability (CS) and Organizational Effectiveness (OE) in the context of select pharmaceutical firms in India. The study opted for a descriptive research design using a survey instrument to collect the responses from the respondents via simple random sampling technique. The survey which was adopted and designed on five point likert scale was disseminated both via web based and manual channels. In total of 322 respondents to whom the questionnaire was distributed to, 218 completely filled responses were finally taken up for the study with a response rate of 67.7%. The measures for all the latent constructs which were used to build the proposed model in the present study were carefully adopted from the literature. Multivariate Multiple Regression Analysis from the family of General Liner Model is used to observe the explained variability of both the dependent variables by the independent variables individually. Key finding of the study underlines that an organization which is highly sensitive of perception and depicts the flexibility in its behaviour by responding to diverse changing stimuli and those organizations who innovate by leveraging the internal resources would contribute to the enhancement of CS and OE. This study has implications for both practitioners and academicians.
Keywords: Business Model Innovation, Mindfulness, Corporate Sustainability
- The impact of social media adoption on competitive advantage in the small and medium enterprises
by Anas Al Bakri
Abstract: Internet-based social media delivers huge benefits to SMEs. There is, however, little research into whether SMEs in Gulf Cooperation Council states use it to gain competitive advantage. This study investigated the relationships between Internetbased social media and competitive advantage in SMEs in the Travel, Restaurants and Hotels sector in the area, using structural equation modelling and confirmatory factor analysis. It drew on a sample of 2,000 SME owners and directors across six countries. The results showed no significant relationships between social media use and competitive advantage. Only 10% of the SMEs were using social media. Of these, 72% used Facebook, 27% Twitter and 1% YouTube. All said social media had improved customer service and relationships, and 80% said it had improved products and service. Uncertainty in how to apply social media, measure the return on investment and persuade employees to embrace social media were the main challenges.
Keywords: Social media, Competitive advantage, Facebook, YouTube, Twitter, Customer relationships, Expanding product, Service offerings, Market share
- Learning Management Through Mobile Apps -A New Buzzword
by Niti Mittal, Monica Chaudhary, Shirin Alavi
Keywords: mobile learning; social networking and education; mobile apps; mobile app score
- Key Dimensions of Personal Innovativeness
by Keith Walley, Sophie Goodall, Andrea Humphries, Jim Huntington, David White, Tony Asson
Abstract: The purpose of the paper is to provide insight into the concept of Personal Innovativeness through an application of the Ettlie and OKeefe (1982) Innovativeness Scale. A mixed-mode approach to data collection involving online and postal surveying was used to obtain responses from 404 practicing UK managers. Although the work has a number of limitations relating to the Personal Innovativeness scale employed and difficulties associated with comparative analysis of the results, the findings are statistically significant and appear to have face value. The most important finding from this study is the identification of five key dimensions of Personal Innovativeness which suggests that the concept is fragmenting and becoming more complex. The paper concludes by considering the implications of the findings in terms of recruitment of managers, their education and training, the design of reward packages, and the allocation of resources.
Keywords: Personal innovativeness; innovativeness scales; innovativeness
- How Do Value Creation Capabilities Enhance New Product Creativity?
by Jae Hyeon Pae, Hyun Jung Lee
Abstract: Value creation capabilities have attracted significant attention from researchers and practitioners over the past decade. However, there is little consensus on what value creation capabilities are and/or how they can be achieved and enhanced. This study proposes a conceptual framework for value creation capabilities and explains their subsequent relationships with new product creativity. Firms achieving new product creativity may enjoy better market performance. The survey results from 207 Chinese firms reveal that firm resources enhance value creation capabilities. This results show that value creation capabilities have a positive influence on new product creativity. This study contributes to the marketing strategy literature by exploring the relationships among firms resources, value creation capabilities, and creativity in the new product development(NPD) setting.
Keywords: Value Creation Capability, Resources, Creativity, New Product Development
- The dynamics of financial working capital management strategies
by Anna-Maria Talonpoika, Timo Kärri, Miia Pirttilä
Abstract: The strategy matrix for financial working capital management (FOCAL matrix) is created in this paper to present the dynamics of financial working capital management strategies. The FOCAL matrix can be used as a general tool in the academia, and companies can use the matrix as a management tool to improve their financial working capital management strategies and benchmark competitors strategies. The matrix is tested on three case companies which have a declining trend in profitability. Annual report information and press releases from the years 1999-2013 are used in the testing. The results indicate that the studied case companies have different emphases on financial working capital management. The strategies evolve according to the financial situation of the company, and companies do not always follow the strategies presented in previous literature.
Keywords: financial working capital; working capital management; management strategies; financial flexibility; flexible asset management; financial crisis; strategy matrix; design science; case study
- Drivers of consumer attitudes towards online shopping in the Indian market: Analysis through an extended TAM model
by Pável Reyes-Mercado, M Karthik, Ram Kumar Mishra, Rajagopal
Abstract: The diffusion of the Internet has changed the advertising, sales, and delivery channels in the retailing industry. Currently, e-commerce industry in India is investing high amounts of money to increase its sale capabilities to perform wider range of transactions. The main feature of online retailing is the convenience of shopping at any time and receiving the purchased items instead of approaching a physical store. There is a need to analyse consumers attitudes towards shopping products online in order to gain competitive advantage in the India context which was an 11 per cent of Internet penetration. This research proposes a conceptual framework to explore trust, social influence, and digital literacy in forming consumers intentions to shop online by extending the Technology Adoption Model (TAM). On the basis of 123 collected observations and the analytical technique of partial least squares, this study finds that trust has strong influence on formation of consumer attitudes and perceived usefulness is a core belief that also influences further attitudes and intentions to shop online. Implications for managers and researchers are discussed.
Keywords: Online retailing; India; Technology adoption; Consumer behaviour; Behavioural intentions; Attitudes; Digital literacy; TAM model
- Identifying the antecedents to ERP adoption
by Parag Uma Kosalge, Elizabeth Ritz
Abstract: As small businesses grow in size, they eventually consider transitioning from their existing information system to an ERP (Enterprise Resources Planning). This paper attempts to find the antecedent motivators for such a transition especially as it can be painful, expensive, and involve considerable business risk. This paper examines the business software involved along with an analysis of three case studies involving in ERP transition. The research concludes with a framework that can be used by small or medium businesses to evaluate if they should transition to an ERP system or just more to a more advanced version of the system they have been using. rnThis research offers valuable guidelines to business executives as any ERP considerations are of strategic importance to any organization. The research also provides new directions for academicians as there are few studies on the true motivators that drive ERP adoption.rn
Keywords: ERP, Enterprise systems, Motivators, Drivers, Adoption, QuickBooks, SAP, SME
- Evaluation and survey of knowledge management tools using Fuzzy AHP and fuzzy TOPSIS techniques
by Arezu Keshavarz, Mohammad Sarlak, Elham Keshavarz
Abstract: Knowledge management (KM) has recently played a critical role in management and economics. Experts have tried to develop and promote KM ideology in order to maintain competitive advantage and improve the organizational use of IT (Lin et al, 2007). This paper presents an application of the fuzzy analytic hierarchy process (FAHP) used to select the most appropriate tool to support knowledge management .The model of this study is tested on a sample of 12 experts in Automobile companies in Iran. In this study, knowledge management tools (Knowledger, share point portal server, eRoom) are prioritized according to the knowledge management tools variables with criteria (cost, functionality, and vendor) and cost, functionality, vendor sub-criteria using fuzzy AHP and fuzzy TOPSIS methods. The results indicate that within Iran Automobile industry, Knowledger is more important than eRoom and share point portal server for automobile manufacture industry.
Keywords: Knowledge management, knowledge management tools, fuzzy AHP and fuzzy TOPSIS methods
- Innovation Activities in Services: Regional Findings from the Czech Republic
by Katerina Jirinova, Karel Kolis
Abstract: Innovation is the driving force of the competitiveness. At the same time, services are a significant contributor to GDP in all developed economies. Therefore, it is interesting to map out innovative activities in this area. Our interest focuses on a specific area ‒ open innovation, problems and trends in innovation. The paper and further research describe comprehensive view on the innovation activities of small and medium-sized companies in the Czech Republic. There are two views included ‒ the company size view and the type of customer view. The research was divided into two parts ‒ quantitative and qualitative research. The results of quantitative research provide the analysis of a questionnaire survey among 1,701 service companies. The main findings describe where companies find their ideas for innovation, who is involved in the innovation process and testing. Qualitative research complements these findings by in-depth interviews with experts on the topic of innovation problems and trends.
Keywords: innovation, services, service innovation, open innovation, Czech Republic, problems, data, innovation activities, regional findings, B2B, B2C, micro companies, SMEs
- STUDY AND ANALYSIS OF SEA PORT OPERATIONS AND PRODUCTIVITY IMPROVEMENT BY OPTIMIZED BERTH UTILIZATION
by Saleeshya P.G, Dheeraj Krishna.C.J, Manu Krishna.U
Abstract: In the present scenario, competition is increasing between the major ports and also among the emerging private sector new generation ports in various locations in India. Individual ports have to develop and efficiently operate their cargo handling capacities to meet the requirements of the exporters who look forward to international benchmarks. The utilization of infrastructural facilities of each port should be ensured at maximum productivity to ensure price competitiveness. Higher productivity helps a port in servicing larger number of ships and increases its revenue. Higher handling facilitates reduction of cost for the port and price for its customers. Poor machine productivity, poor human productivity, inappropriate procedure, lack of coordination and poor planning can hinder utilization of even a well maintained berth. The managerial efficiency of the port management is reflected in the berth utilization. So our paper was aimed at increasing the productivity of the port by optimized berth utilization. Hence a thorough analysis and study of the various operations at the port was done. The problems in the existing system were identified. Crew and transport scheduling models has been developed to help arrive at an optimum scheduling sequence which proved beneficial in reducing the turn round time of the vessel. In the end, to look at how much of an impact the suggested improvements have on the system, cost comparisons were done and the system has been remodelled after incorporating the proposed changes. The results proved successful and the turn round time was reduced to a major extent, hence satisfying the demand.rn
Keywords: Key words –Turn Round Time, Pre-Berth detention Time, Output per ship Berth day, Regressionrn
- IMPACTS OF EXTERNAL KNOWLEDGE AND INTERACTION ON INNOVATION CAPABILITY AMONG INDONESIAN SMES
by Nurul Indarti
Abstract: This study focuses on the impact of external knowledge and the interaction on the innovation capability. Findings from a survey among 198 Indonesian SMEs show that depth of knowledge that is absorbed by a focal firm has a significant impact on the innovation capability. Alike, the interaction affects significantly on the innovation capability. The model explains about 25% of the innovation capability. Additionally, the effect of depth of knowledge and the interaction on firms innovation capabilities is stronger for older firms than for younger ones. The impact of depth of knowledge on firms innovation capabilities is stronger for smaller firms than for larger ones. The study confirms that the level of innovation capability among software firms is significantly higher than that among furniture firms. The findings can be used as a basis for setting up appropriate initiatives and policies to promote the SMEs, especially in the context of emerging economies.
Keywords: knowledge; interaction; innovation capability; small- and medium-sized enterprise; Indonesia
- The Impact of Self-Concept on Brand Loyalty and Image with Regarding the Mediating Role of Theory of Consumers Need for Uniqueness
by Sepedeh Najafi, Mohsen Alvandi
Abstract: The main purpose of this study is evaluating the impact of self-concept on brand image and loyalty, with regarding the mediating role of the theory of consumers need for uniqueness three dimensions (avoidance of similarity, unpopular choice counter-conformity and creative choice counter-conformity) in luxury branding. For this research, 87 questionnaires were gathered from luxury buyers. The collected data were analyzed by partial least square (PLS) Method. The results indicate that there are positive relationship among Independent self-concept (avoidance of similarity, creative choice counter-coformity and unpopular choice counter-conformity. also the positive impact of avoidance of similarity on brand loyalty and creative choice counter-coformity on brand image and brand loyalty confirmed. The results of this study help luxury business managers to understand buyer intention in luxe goods, for developing their markets better that before.
Keywords: brand loyalty, brand image, self-concept, status seeking, Luxury market.
- FRAMEWORK FOR SUPPORTING BUSINESS PROCESS RE-ENGINEERING BASED BUSINESS MODELS
by Sanjay Mohapatra, Anupam Choudhury, Ganesh K
Abstract: This research attempts to link up three streams of management thoughts; the industry focus, Organizational focus and Process Focus to arrive at a unified view for Business Process Re-engineering (BPR) readiness. Secondary survey methodology was adopted to analyze industry and firms operating in several industries. Using existing literature, the different available models for industry, Organization and Process focus were studied and factors that impact decisions for re-engineering were determined. However, risks involved in re-engineering are high and all the processes need not be re-engineered. To address these issues (risks and prioritization of processes), this research has developed a BPR readiness framework which, when adopted, will reduce the uncertainties in re-engineering, improve performance of the firm while retaining its competitive advantage. The readiness framework has been tested which have shown promising business results. It can be applied to other firms as well to determine the trigger points for carrying out process re-engineering.
Keywords: Business model, re-engineering, BPR, readiness framework
- Enablers of Eco-Innovation to Enhance the Competitiveness of Indian Manufacturing Sector: An Integrated ISM-Fuzzy MICMAC Approach
by Devendra Kumar Dewangan, Rajat Agrawal, Vinay Sharma
Abstract: Nowadays, the global competitive scenario plays a critical role in the success of the Indian manufacturing sector. The present study argues the role of dynamic eco-innovation practices in order to achieve sustainability in providing the competitiveness of the Indian manufacturing sector. The outcomes of the present study attempt to express core categories of eco-innovation practices in the Indian manufacturing industry. The study identifies 11 Eco-Innovation Enablers (EIEs) in the Indian manufacturing sector. Manufacturing acknowledges a technical target in the form of both product and process, eco-innovation has a pivotal role to attain sustainable development in ecology, economy and social club. In the present study, four types of eco-innovation drivers have been obtained from literature, namely regulatory push, technology push, market pull, and firm strategies. The study involves 100 steel manufacturing companies across India. Interpretive Structural Modeling (ISM) has been used to analyse the relationships among these enablers as well as fuzzy. MICMAC (Matriced Impacts Croise
Keywords: Eco-Innovation Enablers (EIEs), Sustainability development, Manufacturing competitiveness, Interpretive Structural Modeling (ISM), fuzzy MICMAC Analysis.rn
- The Influence of Strategic Orientation on New Product Development: Mediating Role Innovation, Knowledge Management and Organizational Capabilities: An Empirical Investigation
by Hamid Akbariyeh, Amin Seddigh
Abstract: The purpose of this study is to investigate the effect of strategic orientation on new product development focusing on mediating role of manufacturing innovation, knowledge management and organizational capabilities using path analysis. For this purpose, 138 ceramic tile experts participated in the study. They responded to strategic orientation, manufacturing innovation, knowledge management, organizational capabilities and new product development inventories. Path analysis showed that strategic orientation had a positive significant effect on knowledge management, organizational capabilities and manufacturing innovation. Knowledge management had a positive significant effect on organizational capabilities, new product development and manufacturing innovation. Organizational capabilities and manufacturing innovation had a positive significant effect on new product development. Strategic orientation had a positive significant effect on new product development through knowledge management, organizational capabilities and manufacturing innovation. Overall, findings emphasized the role of strategic orientation, manufacturing innovation, knowledge management and organizational capabilities on new product development.
Keywords: strategic orientation, manufacturing innovation, knowledge management, organizational capabilities, new product development
- ASSESSING PRODUCT CONCEPT OF A CHOCOLATE FORMULATED WITH VEGETAL EXTRACTS
by Wlisses Fontoura, Leonardo Arrieche, Gisele Chaves
Abstract: The food industry, especially chocolate and cocoa products, undergoes intense competition and evolution, which demands the development of new food products. However, the success of a new product depends on accurate identification of customer needs to achieve market acceptance. Therefore, this study aims to assess the product concept of a chocolate formulated with vegetal extracts, macadamia nuts in this case, which is lactose free and contains no animal ingredients. The city of S
Keywords: PRODUCT DEVELOPMENT; CONCEPT TESTING; CHOCOLATE; MACADAMIA.
- Linking Retailers Ethical Leadership to Frontline Employee Outcomes: A Structural Equation Model Approach
by Arto Lindblom, Sami Kajalo, Lasse Mitronen
Abstract: This study aims to explore how frontline employee perceptions of the retailers ethical leadership influence their work-related thoughts and behaviours. To achieve this we develop hypotheses about the influence of the retailers ethical leadership on frontline employee job satisfaction, self-efficacy, organizational identification, and turnover intentions. Using structural equation modelling we test our hypotheses with a sample of 208 frontline employees from the Finnish retail industry. Our research results suggest that retailers ethical leadership relates positively to frontline employee job satisfaction, self-efficacy and organizational identification. This study also shows that frontline employee job satisfaction has a strong negative impact on their turnover intentions. In addition, the results indicate that there is a relatively strong negative impact directly from ethical leadership on turnover intentions. Theoretical and practical implications as well as future research opportunities are also discussed.
Keywords: ethical leadership; retailing; frontline employee; structural equation model.
- Role of Development Officers in the Marketing of Public Sector Health Insurance Policies in India
by Senthil Kumar S.A., Bharatendra K. Rai, Angappa Gunasekaran, Laura Forker
Abstract: Health insurance is the fastest growing portfolio in Indian insurance. Due to its rapid growth, health insurance is treated now as a separate category by the Insurance Regulatory and Development Authority of India (IRDAI). However in India, only 18 percent of people are covered under any health insurance policy. Hence there is great opportunity for further growth of the health insurance market in India. Marketing health insurance policies involves unique practices compared to marketing any other product, because health insurance policies are service products and intangible by nature. This study uses primary data collected from 300 development officers as well as secondary data and analyses them with the help of Discriminant Function Analysis (DFA) to identify the key personal and organizational characteristics that influence the performance of the development officers in the marketing of public sector health insurance policies in India.
Keywords: Health Insurance; Development Officer; Public Sector General Insurance; Discriminant Function Analysis (DFA); Insurance Regulatory and Development Authority of India (IRDAI).
- Online Document Editing and Collaboration Web Services: factors influencing adoption
by Parag Uma Kosalge
Abstract: Today Online Document Editing and Collaboration (ODEC) web services, such as Google Drive and Zoho, are commonly used to achieve workplace collaboration. They provide unique business advantages at the tactical as well as strategic levels, including harnessing group collaboration, collective intelligence, and improved business processes. The adoption rate has also quickly increased in the last few years. As web services are believed to be a bottom-up phenomenon, this paper empirically examines the perceptions of the new generation. An exploratory factor analysis reveals four factors that drive adoption of document-level collaboration web services: Business improvement, day-to-day collaboration, business innovation, and personal use. Business benefits such as collaboration, cost reduction, and collective intelligence find strong recognition. This research is important for academicians as there are few studies that examine what motivates the modern workforce to adopt Online Document Editing and Collaboration. A better understanding of the end user perceptions can help organizations shape their initiatives in this regard and improve successful adoption. Technology providers can focus their attention on improving performance on aspects that are important for the business users.
Keywords: Internet, Web, Online Document Editing and Collaboration, Web 2.0, benefits, user perceptions, technology adoption, drivers, collective intelligence, collaboration, knowledge management.
- Evolved Factors affecting the Cloud Computing adoption by the MSMEs in INDIA.
by Sanjay Mohapatra, Swayambhu Dutta
Abstract: Cloud Computing has become one of the most coveted SMAC (Social-Mobile-Analytics-Cloud) variables as per the recent trends analysis by most of the consulting firms. In the view of this trend several literature were reviewed to find out the different factors which affect the Cloud Computing Adoption by the MSMEs in India. References were drawn not only on Indian context but from countries with similar demographic and economic profiles. After an elaborate review many such variables were identified. An initial market survey in the Indian context gave insights to club several such variables into Clubbed Variables representing the same theme. There were 16 such clubbed variables. After that a Primary research survey was done among the professionals across 33 organizations and institutions to find out their perception regarding the variables. Then cluster analysis was done on the collected data points to get similar clusters. The dissimilar clusters were removed and similar ones were clubbed and a Factor Analysis was done on the clubbed cluster. This resulted in the formation of Evolved Factors affecting the Adoption of Cloud Computing by the MSMEs in India.
Keywords: Cloud Computing; MSMEs (Micro, Small, Medium Enterprises); India Evolved Factors; Adoption; Data Analysis.
- PERCEPTIONS AND ATTITUDES TOWARDS THE SILENT SALESMAN
by Suraj Kushe Shekhar, P T Raveendran
Abstract: Packaging which is often called as the silent salesman is an important component of marketing. Today the importance of packaging has risen to such an extent that product packaging is rightly called as the fifth P of marketing mix. This paper identifies consumers perception and attitude towards various packaging cues on a high impulse, low involvement confectionary product, namely chocolates across a wide range of consumers. Data interpretations using SEM approach indicated that when consumers associations with Packaging and Beneficial Dimensions were high, the tendencies to buy chocolates were also high. It was also observed that Packaging and Nutritional Mislead had direct negative effect in buying influence of chocolates.Further it was also concluded that Packaging and Attitude towards New Designs also had direct negative effect in buying influence of chocolates. The results were significant in all the above mentioned situations.
- Factors Influencing the Adoption and Implementation of HRIS Applications: Are they Similar
by Rand Aldmour, Ra'ed Masa'deh
Abstract: This paper aims to investigate the influence of firms' internal and external environmental factors upon their adoption of HRIS behavior and the level of implementing HRIS (Human Resources Information Systems) applications. The conceptual framework used includes the key factors thought to influence firms adoption of HRIS behaviour and the extent of implementing HRIS applications was developed. Data were collected through structured-directed interviews with 236 respondents. The survey units were the shareholding companies in Jordan, and the key single respondents approach was employed. The data were analysed with a variety of statistical tests and techniques: (1) Factor analysis (principle components analysis) (2) Multiple regression analysis (3) Discriminant function analysis (4) Correlation analysis (6) Chi-square test. The findings of the study support that the influential environmental factors of the adoption of HRIS behaviour (i.e., the variation between adopters and non-adopters) are differ from the influential factors of the level of implementing of HRIS applications in terms of their importance and strengths. On other words, the factors determining firms adoption behaviour are found to be somewhat different from the factors determining its level of implementation of HRIS applications. In comparison to each environmental dimension acting alone, the integration approach of the two internal and external dimensions gives better explanation not only of the prediction of the level of implementing of HRIS applications, but also of the prediction of adoption behaviour. Therefore, a better understanding of adoption of HRIS behaviour and the level of implementing of HRIS applications requires that firms environmental factors be viewed as whole (i.e., the interaction of the internal and external dimension) rather than being isolated fragments (i.e., only a single dimension).
Keywords: HRIS Application, Adoption, Implementation, External Factors, Internal Factorsrn
- Voyaging of Agile Manufacturing: From Iacocca Institute to Pump Industry
by Thilak V.M.M., S.R. Devadasan, D.T. Sunil, M. Vinod, R. Murugesh
Abstract: Today, the companies which are capable of producing products with new innovative features with the aim of quickly responding to the needs of the customers are able to thrive in the competitive markets. From the later part of twentieth century, researchers recognized this kind of development and began to address this kind of capabilities under the term agile manufacturing (AM). The literature survey reported in this paper was carried out to carefully trace the information, research and knowledge about AM. At one stage, the focus was turned towards reviewing the researches carried out to implement AM principles in the pump industry. This review indicated that few researchers have started to apply Computer Aided Design (CAD) and Rapid Prototyping Technology to achieve agility in the case of producing the components of pumps. However, no researcher has examined the application of AM principles on the assembled pumps. In the context of drawing this derivation, in this paper, the avenues for enhancing agility of designing and manufacturing pumps with the aid of CAD have been pointed out. While concluding this paper, it is claimed that applying AM principles in the designing and manufacturing of pumps will enhance wealth generation in the pump industry.
Keywords: Agile Manufacturing; Literature Review; Pump Industry; Computer aided design
- An Empirical Analysis of Eco-Design of Electronic Products on Operational Performance: Does Environmental Performance Play Role As a Mediator?
by Yudi Fernando, Nijo Chein Rou Uu
Abstract: Eco-design has been used to support the upstream and downstream production processes in green supply chain management (GSCM). It is included in the product design and processes effectively starting from resources extraction, to remanufacturing, use and reuse, recycling, and, finally, to dispose products in economic end-of-life. The constructs of this study were developed based on literature and verified using two cases of leading global manufacturing firms. A theoretical model was tested using a survey in Malaysia, and the results fulfil literature gaps on the effects of eco-design to environmental performance (EP) and operational performance (OP). The mediating effects of EP were indicated to have improved the positive link from eco-design to OP. This study provides new research opportunities for developing theoretical justification in building eco-efficient based GSCM. Finally, the paper suggests that the operation managers should apply parsimony principles of eco-design measurements to foresee the imminent organization outcome. Future researchers should therefore find a way to enlighten industry counterparts with a guidance to enhance further robust statistical modelling and constructs development.
Keywords: Innovation; eco-efficient supply chain; green supply chain; eco-efficient; eco-design; operational performance; Malaysia
- Ambidextrous organisation and knowledge exploration and exploitation: the mediating role of internal networking
by Lara Agostini, Anna Nosella
Abstract: The importance of resolving the tension between exploration and exploitation has placed ambidexterity at the forefront of academic research. Within this context, this papers goal is to examine whether facilitating knowledge exchange through internal networking mediates the relationship between ambidextrous organisation represented as a second-order construct reflected by contextual and structural approaches and the ability to pursue high levels of knowledge exploration and exploitation in innovation processes. Based on survey-based research carried out in Austria and Italy, this studys findings suggest that ambidextrous organisation produces good results in terms of both knowledge exploration and exploitation through the partial mediation of internal networking.
Keywords: ambidexterity; innovation; internal networking; exploration; exploitation; structural equation model
- Using TOC to Develop U-Tourism and to Formulate Its Marketing Strategy
by Tzong-Ru (Jiun-Shen) Lee, Shiou-Yu Chen, Ing- Ching Chen, Resmi A.T., Ganesh K, Anbuudayasankar S.P.
Abstract: rnThe progress of information and telecommunication technology (ICT) has accelerated the arrival of an Ubiquitous Society, where information can be received and exchanged anytime and anywhere. The transformation of commerce comes from brick and mortar stores to electronic commerce and to mobile cmmerce, now we call U-commerce (Ubiquitous commerce). U-commerce implies ubiquity, universality, uniqueness and unison, and brings lots of new challenges to marketers. Meanwhile, ICTs also provide new opportunities to tourism industry, and its food & beverage sector. Therefore, this study uses Theory of constraint (hereafter TOC) to identify the existing challenges of tourism industry in Taiwan and provide the possible solutions of utilizing ICTs properly. Then construct the U-Tourism and formulate its corresponding marketing strategies. Hence, the results of this study could be divided into three major parts: 1. identifying tourists demand and corresponding ICTs by questionnaires, 2. through TOC to map Taiwans tourism challenges with possible solutions, 3. formulating new marketing strategies for U-Tourism with U-Space as the infrastructure
Keywords: Ubiquitous；Information and Communication Technology (ICT);Theory of Constraint；U-Space Marketing Strategy
- Modeling Customers Intention to Use of E-Banking in Saudi Arabia: An Empirical Study
by Mohamed Youssef, Eyad Youssef, Yaprak Anadol, Abdullah AlZahrani
Abstract: This study examines how customers perceive and adopt Internet Banking (IB) in Saudi Arabia. Developments of this study were based on Technology Acceptance Model (TAM) which is used with an added construct of Web Security to determine the level of adoption to use IB. Attitude, Perceived Usefulness, Perceived Ease of Use, Perceived Web Security and Intention to use are the main constructs of the study. Intention to use IB is used as the dependent variable and the determinant of the adoption. The questionnaire of the original study was utilized with some modifications to fit the Saudi environment. The analysis in this paper is based on a sample of 252 responses, collected from individuals living in the eastern province of KSA. A series of regression analyses was used to test the six main hypotheses of this study. This study contributes to the existing body of the literature in that it confirms the findings of original study by Cheng et al. (2006). It also confirms the strength of the Technology Acceptance Model in determining the level of acceptance to IB services in a developing economy.
Keywords: E-Banking, Innovations, Internet-based e-banking, AMT
- Perceived Risks of Individual Investors in the Capital Market: The Antecedences and Consequences
by Amir Reza Konjkav Monfared, Saeed Fathi, Bahram Ranjbarian
Abstract: One of the most important factors involved in decisions made by consumers is the concept of perceived risk. Perceived risk is generally of such an importance that it might alter the purchasing process of the products. Indeed, perceived risk is one of the main determinants in understanding consumer behavior. Among the points revealed by the review of literature, the two subjects relevant to our study are the manifold outcomes and consequences of the perceived risk and also the fact that the consumers behavior might be under the influence of multiple factors. Perceived risks are important in investment decision-making. This is why the present study aims to investigate the antecedents and consequences of the perceived risks in the capital market. Accordingly a conceptual model was developed and tested among the individual investors who invested in Tehran Stock Exchange through brokerage firms. The model was developed and tested in two steps. The first step involved the identification of those factors which are effective in forming the perceived risks among individuals. They consist of self-efficacy, trust, perceived quality, risk propensity, and investor knowledge. In the second step, the consequences of perceived risks (both psychological and behavioral factors) were recognized. The findings revealed that self-efficacy, trust, perceived quality, risk propensity, and investor knowledge are the main predictors of perceived risks in Tehran Stock Exchange. Another part of our findings showed that these factors affect the perceived risks of individual investors significantly. In addition, our findings indicated that the perceived risks have a negative effect on the investment intention. Finally our findings revealed that perceived risks of individual investors have an indirect effect on the investment intention through information search and attitude. Given the fact that financing and developing the investment is a major goal of the investment institutions, the results of this study can provide such institutions with beneficial assistance in achieving this goal.
Keywords: Perceived Risks; Trust; Self-efficacy; Risk Propensity; Investment Intention
- Maximizing Product Innovation in Chinese State-Owned Enterprises
by Xiaomin Zhao, Ping Lan
Abstract: Chinese SOEs have been experiencing dramatic changes over the last three decades. Although there is an active debate on the advantages and disadvantages of Chinese SOEs, few studies pay attention to the quantitative relationship between Chinese SOEs new product development and the ownership structure of the industries. Does the change of weight of SOEs in an industry affect the overall innovation output of the industry? By examining new product development data in all 39 industries in China from 2006 to 2010, this research measures the influence of the SOEs on the industrial innovation at different ownership scenarios. Through comparative analysis between different industrial groups and regression, this study reveals that in the industries which has 15-30% of SOEs, the overall innovation demonstrates the best results, which are reflected in more new products, larger monetary value of innovation, and a higher efficiency of new products development.
Keywords: new product innovation; Chinese SOEs; Chinese industrial enterprises; enterprise symbiosis; structure optimization
- How to measure collaboration in an open innovation context
by Emilia Lamberti, Mauro Caputo, Francesca Michelino, Antonello Cammarano
Abstract: The paper suggests a multidimensional measurement system assessing collaboration in an open innovation context by the use of 1) costs and revenues deriving from joint development processes and 2) joint patents as the outcome of such activities. Three metrics are introduced to evaluate the weight of collaborations on both the total business of companies and their patent portfolio: collaboration costs share, collaboration revenues share and joint patents share.
A sample of 114 worldwide top R&D spending bio-pharmaceutical firms is analysed and eight clusters are defined, from closed sole-patenting to coupled joint-patenting.
The work proposes a novel way to assess collaboration processes, identifying their impact on the business model of companies. Furthermore, it integrates metrics for collaboration process and outputs within a comprehensive measurement system. Drawing on objective and available data from both consolidated annual reports and PATSTAT, the framework allows managers to evaluate the collaborative position of their firms, monitoring its evolution and benchmarking with competitors.
Keywords: R&D collaboration; Open innovation; Joint patents; Innovation metrics; Bio-pharmaceutical industry.
- Mutual Benefits for Buying and Supplying Firms: The Role of Technology Routinization
by Jae Hyeon Pae
Abstract: Companies often introduce new business technologies into their corporate environment with the aim of improving their competitive advantages. To this end, this study sets out to identify the factors that play a tangible role in facilitating the routinization of procured business technologies. In this context, we not only examine the roles of technology and organizational culture in routinization, but also assess the impact of industrial market interactions between the technology-supplying firm and the buying firm on the level of routinization. More importantly, we focus on the impact of routinization in creating mutual benefits for the technology buying and the supplying firms. Using business-to-business market data, we empirically validate that the buying firms corporate culture, perceived technology attributes, environmental turbulence, and the supplying firms service orientation are critical in increasing the routinization level of business technologies, which in turn helps to create/sustain mutual advantages for both parties.
Keywords: technology routinization, corporate culture, environmental turbulence, benefits for buying firms, benefits for supplying firms
- Store Format Choice Behaviour for Organised and Unorganised stores of NCR in India-A Discriminant Analysis
by Moonis Shakeel, Shashank Mehra
Abstract: Indian retail sector was highly fragmented and unorganised till last decade. Many Indian retailers entered in the Indian market and opening the stores across the country in last one decade and later international retailers also entered the bandwagon. As competition is intensified in Indian F&G grocery retailing and retailers are in transformation stage and need to be researched. This research study is based on primary data through at-home survey method using structured and non-disguised questionnaire from National Capital Region (NCR)-Delhi. The study using descriptive as well as empirical research applying random sampling on 1000 questionnaires across national capital region of Delhi out of which 890 usable questionnaires were found to be further analysed. The study classified in two phases in the first phase researchers identified various items for grocery store patronage; and secondly, discriminating dimensions on which the customers select a store format for grocery store choice.
Keywords: Store format choice, organised and unorganised retail in India, kirana shops, store attributes, discriminant analysis.
- Marketing conception in SMEs; A paradigm shift, why SMEs fail to adopt marketing in Hefei, China.
by Kashif Ullah Khan, Song Wei, Atlas Fouzia, Muhammad Hamayun, Ahmad Nawaz Zaheer, Bilal Ahmed, Farhan Khan
Abstract: China, at present, is a rapidly growing economy. Just like other developed countries in the world, SMEs play a vital role and contribute substantially to the economic growth of China. Marketing also plays the same role in SMEs growth, but as marketing conception in SMEs has been a continuous issue among academicians and practitioners. This research is an endeavor to investigate the marketing conception held by the owners (entrepreneurs) of Small and Medium Enterprises (SMEs) in Hefei, China, as compared to the marketing conception developed in academic literature while using three different marketing paradigms (i.e. the transaction, relationship and induction marketing approaches). The second objective of this research is to know why entrepreneurs fail to adopt marketing approach in their firms (SMEs). In order to achieve our objectives, we collected data randomly from SMEs in different sectors and our results show that there is no significant difference, except with some, regarding the perception of marketing concepts. Also we found, the main reason of failure was high costs and the entrepreneurs priority to focus on the quality of the products.
Keywords: Small and Medium Enterprises (SMEs); Marketing paradigms; entrepreneurs’ conception of marketing.
- Business Innovation in Credit and Collection: A Case Study in a Brazilian Water Supplying Company
by Rosangela Vanalle, Wagner Lucato, Ivone Sato
Abstract: The major objective of this study is to propose a novel and viable procedure for the recovery of overdue debts especially designed for low-income population in order to allow them to regain access to good quality drinking water supply. To verify the suitability of the proposed procedure to real-world situations, two case studies were conducted in communities in which the customers financial situation precludes the maintenance of timely payments. As a result, it was possible to conclude that the reduction in the debt stock and default rates in those communities were significant after applying the new procedure. Hence, this study suggests that using a different way to deal with low-income customers is essential to obtain the best results in terms of financial recovery and also to make once again water affordable for them.
Keywords: Overdue debts; Water supply; Water affordability.
- The Mediating Role of Process and Product Innovation in the Relationship between Environmental Management Accounting and Firms Financial Performance
by Sayedeh Parastoo Saeidi, Mohd Shahwahid Haji Othman
Abstract: This study aims to investigate the mediating role of product and process innovation in the relationship between Environmental Management Accounting (EMA) and firms financial performance in Iranian companies. The paper adopted the Structural Equation Modeling (SEM) approach to test the hypotheses. The findings are based on 118 Iranian manufacturing and consumer product firms in 2014. The findings reveal that the link between environmental management accounting and financial performance is a partial mediated relationship. Positive effect of environmental management accounting on financial performance is due to the positive effect environmental management accounting has on both product and process innovation on one hand, and positive affect that innovation has on financial performance on the other. These findings suggest a role for environmental management accounting in indirectly promoting firm performance through enhancing innovation.
Keywords: Environmental management accounting; product innovation; process innovation; firm performance; Iran
- Brazilian SMEs Innovation Strategies: Agro-industry, Construction and Retail industries
by Gustavo Dambiski Gomes de Carvalho, Eduardo Damião da Silva, Hélio Gomes de Carvalho, Marcia Beatriz Cavalcante, June Alisson Westarb Cruz
Abstract: The Brazilian Micro and Small Business Support Service (SEBRAE) developed the Local Innovation Agents Program (LIA) mainly to convey the culture of innovation to small and medium-sized enterprises (SMEs). By means of correlational hierarchical cluster analysis of 412 companies Innovation Radar, this research aims to identify the main innovation strategies of small and medium-sized enterprises (SMEs) in the Agro-industry, Construction, and Retail industries. Among the main results, it is noteworthy that in all industries the Platform dimension, which comprises common components for different products, is one of the most developed dimensions among the main innovation strategies. This result reinforces the incremental nature of innovation among SMEs. Moreover, the innovation strategies adopted by SMEs have involved dimensions other than just product development, such as organisational, brand, clients, distribution channels, and supply chain, among others.
Keywords: innovation; strategy; innovation strategies; strategic innovation; innovation radar; business innovation; small and medium-sized enterprises; SMEs; agro-industry; construction; retail; SEBRAE; Brazil; cluster analysis.
- Influence of psycho-demographic variables of customers on their expectations and satisfaction towards retail store image attributes
by Anuradha Arthanari
Abstract: With the increasing level of awareness and the changing lifestyle pattern, the consumer prefers to purchase from a place where his/her concurrence and preferences are more valued. The physical environments of retail stores and the attributes of the stores (lighting, air-conditioning, washrooms, store layout, aisle placement etc.,) create a tangible representation or image of the store to meet the expectations of more sophisticated and demanding customers. The present study focusses on the way in which the lifestyle parameters of activities and interests of the people influence their level of expectation and satisfaction towards the store attributes and their shopping experiences in the major organized food and grocery retail outlets in Coimbatore city and ultimately influences their store loyalty status. A unique model was proposed and Stratified convenience sampling procedure was adapted to select 320 customers who visit eight major organized food and grocery retail outlets in the city to carry out the research. Questionnaire was constructed and the data collected was analyzed using the ANOVA and the Structural Equation Modeling. The findings of the study reveal that the lifestyle parameters of activities and interests play a vital role in the shopping decisions of the customers in the organized food and grocery retail outlets. The results of the SEM show that the expectations of the customers are majorly determined by the two major lifestyle psychographics parameters (activities and interests) of the customers. It also reveals the fact that about 35.3% of the change in the level of satisfaction of the customers towards their organized retail outlet is explained by the expectations of these customers towards the attributes of that organized retail outlet.
Keywords: activities, interests, lifestyle psychographics,demographics,store attributes,store image, expectation, satisfaction, store loyalty
- How can crowds be used in developing complex industrial products?
An analysis of factors impacting the usefulness of crowdsourcing outcomes
by Sanna Ketonen-Oksi
Abstract: Understanding how to plan and execute crowdsourcing challenges of complex industrial products is crucial for receiving useful information and knowledge from crowds. This qualitative single-case study was, thus, initiated to analyse the factors impacting the usefulness of crowdsourcing outcomes. The data were collected by means of semi-structured in-depth interviews with representatives of a crowdsourcing company and a crowdsourcing platform provider. From these data, a number of factors impacting the usefulness of information and knowledge acquired from crowdsourcing were identified, and their significances were evaluated, thereby increasing our understanding of value creation from crowdsourcing activities. The need for novel skills and competences was highlighted. Though more validation is needed to generalise these preliminary results, this study generates a new qualitative understanding of the use of crowdsourcing in the development of complex (new) product development.
Keywords: open innovation, crowdsourcing, complex products, product development, innovation process
- Performance Evaluation of University Rankings: Literature Review and guidelines for future research
by Sandra Valmorbida, Sandra Ensslin
Abstract: The evaluations of the quality of universities through rankings emerge as an alternative to guide decision making. Thus, this research aims to analyze the characteristics of international scientific publications that address the literature fragment of evaluating the performance of university rankings, in order to generate knowledge to identify gaps and then point out possibilities for future contributions in this area of expertise. For such purpose, this qualitative study selected the ProKnow-C tool for selection of literature and reflection of the established characteristics. From the formation of the bibliographic portfolio which consists of 27 articles, the following results were identified Scientometrics was the most receptive to this topic; 64 authors; and the metaphysical epistemological basis as the one that most informed the evaluation of the rankings; the development of generic rankings; the use of indicators with easily accessible data; focus on the use past data; comparing institutions size and distinct characteristics.
Keywords: university rankings; performance evaluation; literature review; Pro Know-C; epistemology.
- A Mediation Analysis on the Potential Determinants of Brand Extension Success
by Nithya Murugan, Jayanth Jacob
Abstract: Prior research on brand extension has proved that an extensions success predominantly depends on the perceived quality of the parent brand, extensions congruence to its original brand, advertising effort and distribution support. Albeit many studies have been conducted on the potential determinants of brand extension success, in most of those studies, only the direct relationship between brand extension success and its potential determinants have been tested, ignoring the fact that some success factors may represent extension success on other relationships. In this study the proposed model considers the plausible indirect relationships between the success factors, offering various managerial implications that helps in reducing the fear of launching dissimilar extensions and expanding the boundary of extension products. To test this possibility, a survey about ten national FMCG brands and their real extensions was conducted with a sample of 425 adult consumers. Findings from causal path analyses indicated that advertising effort helps in gaining retailers acceptance of the product in addition to improving the fit perceptions leading to positive evaluation of extension product. Distribution support has both direct and indirect effect on brand extension success through perceived fit. Hence, perceived fit partially mediates the relationship between distribution support and consumer evaluation of extension. The positive parent brand attitude affects the retailers distributions support for the extension and in turn the extension success. This study shows that judgments on fit perceptions are dynamic; even moderate and in-congruent extensions can benefit from repetitive and consistent advertising and intense distribution, indicating that extensions can stretch beyond the original boundaries suggested.
Keywords: Brand extension, perceived fit, adverting effort, distribution support, India
- Towards the Open Innovation Strategy: A Longitudinal Study of Service Firms in an Emerging Market
by Erlinda Yunus
Abstract: This study examines the innovation practises of service firms in one of the most promising emerging markets: Indonesia. The study highlights innovation strategies that Indonesian service firms employ, particularly, contrasting closed versus open innovation strategies, investigating the influence of innovation strategies on firm innovativeness and examining the impact of firm innovativeness on firm performance. The results reveal a significant shift towards open innovation, indicated by the increasing reliance on the external sources of innovation and the extent of external collaboration over the years. A higher degree of collaboration is shown by the degree of vertical collaboration (that is, collaboration with suppliers or customers) and knowledge-intensive collaboration (collaboration with universities or government). Open innovation strategy is found to have a positive effect on firm innovativeness; firm innovativeness further exerts a positive impact on firm performance, while firm size also influences the relationships.
Keywords: open innovation, innovation performance, service firms, longitudinal study, emerging market
- The innovation dynamics in SMEs: proposal of a method
by Luís Filippe Serpe, Diogo Jose Horst, Pedro Paulo de Andrade Junior, Dalcio Roberto dos Reis
Abstract: Innovation management is an issue of central importance to modern firm management, literature and praxis, creating great discussion concerning managerial topics, definitions, problems and possible solutions. The scope and boundaries of innovation activities have also become a matter of greater debate, thus creating further problems in determining which activities are present in a company and what method, criteria or structure should be used to develop improvements for each activity. The objective of this study is to propose a method to evaluate a set of innovation activities, helping to guide small companies towards the implementation of innovation within their core managerial structure. The method intertwines the innovation dimensions (REIS, 2008), with the four phases of the diagnosis process, as described by Reis (2008). The assessment process was developed through a scoring system, which concentrates the innovation activities in levels, based on a model by Andrade Jr. (2013). This should help to ease the assessment of innovation problems and deficiencies in companies, by expanding its development perspective through an integrated innovation-driven and market oriented model.
Keywords: multicriteria decision analysis; innovation management; knowledge management; SMEs; decision support methods.
- Multi-dimensional nature of innovation at Amazon
by Jesse Arnett, Brion Goldfinch, Ravi Chinta
Abstract: The paper presents the evolutionary transformation process of Amazon as a company case study that is based on the analysis of documentary data and interviews with industry consultants responsible for advising strategic growth plans of large and fast growth firms in technology-intensive industries. Our analysis reveals many distinct and diverse patterns of innovation at Amazon that come under customer-driven innovation (based on unmet needs revealed from customer research), technological innovation (leading to radical process redesigns), business model innovations (stemming from bold new vision about the future) and open innovation (co-innovation partnerships with other firms). While our examples from Amazon provide the empirical basis for the paper, we believe that the patterns of innovation revealed by these specific examples underline broad patterns of innovation models that other firms can emulate. We conclude the paper with implications for future research and practitioners.
Keywords: Amazon; B2C innovation; continuous innovation; firm transformation; open innovation
- Performance outcomes of interaction, balance, and alignment between exploration and exploitation in the technological innovation domain
by David Cembrero, Josune Saenz
Abstract: A key point in previous research on ambidexterity is the operationalization of the ambidexterity concept. Usually, multiplicative interaction (i.e. showing high scores in exploration and exploitation) and balance are the two facets considered. We argue that a third facet should be added: alignment, which refers to the extent to which exploration and exploitation are certainly interrelated and complement each other. The results of the research show that, unlike previous research, what truly matters for firm performance is to focus on radical innovation and to develop incremental innovations that truly complement the former (alignment). On the contrary, interaction and balance between both types of innovation do not show a significant influence on company performance. Specific measures to operationalize the alignment construct are provided.
Keywords: Ambidexterity; Alignment; Exploration; Exploitation; Firm performance; Technological innovation.
- CO-EXISTENCE OF SOCIAL MEDIA AND WORK PRODUCTIVITY?
by Jehangir Bharucha
Abstract: Abstract:This paper throws more light on the ongoing debate whether social media at work reduces or increases productivity. Purposive sampling was conducted with 118 employees chosen from different parts of Mumbai city. It is clear that employees are absolutely in favour of access to social media at the workplace. In fact a modern employer today should use this to his advantage and try to ensure that social media access guarantees better productivity. It is also preferable that organisations have a social media usage policy in consultation with the employees and to which employees agree.
Keywords: social media, workplace, productivity, hinders, balance.
- Network structure and open innovation: the role of trust in product development
by Aluisius Hery Pratono
Abstract: The challenge of implementation of open innovation to new product development does not only spring from margin of managerial action but also from network structure. However, there is a complex relationship between network structure and product development that allows firm to achieve performance. Along with survey on SMEs in Indonesia context, this study demonstrates empirically that firms with extended expansion of network structures will not achieve per performance, unless they can build trust and product development capability upon the networks. The result confirms that combination between social capital theory and dynamic capability enhances the explanation on firm performance.
Keywords: open innovation; network structure; trust; product development; firm performance
- Predicting Online Buying Behaviour A Comparative Study Using Three Classifying Methods
by Sanjeev Prashar, Sai Vijay Tata, Chandan Parsad
Abstract: Online retailing with its increasing foothold has made India one of the most anticipated destinations for both local and multinational retailers. The success of these online retailers will depend on their ability to attract more and more consumers to shop online. Therefore, it is pertinent to comprehend and understand consumers attitude and behaviour towards online shopping, besides predicting online buying potential. This empirical study investigates the accuracy of prediction of different classifiers used in determining online buying. We empirically compared the forecasting ability of neural network (NN), linear discriminant analysis (LDA) and k-nearest neighbour (kNN) in the context of consumers willingness to shop online. Statistical evidence has been provided that neural network significantly outperforms the other two models in terms of the predicting power. This study shall contribute to online retailers in reducing their vulnerability with respect to market demand and improve their preparedness to handle the market response.
Keywords: Online buying; Predicting buying behaviour; Neural network; e-Commerce; k-nearest neighbour; Linear discriminant analysis.
- What drives SME explorative-exploitative alliance formation: An integrated perspective
by Ch. V. V. S. N. V. Prasad, Rohit Prabhudesai
Abstract: Domain separation approach toward ambidexterity has received increased research attention in recent years. While SMEs can especially use the approach for obtaining competitive benefits, what drives them to form alliances across the different domains of the approach is not yet clear. The aim of this paper is to determine the drivers of SME exploration-exploitation alliance domains. The study combines the parallel perspectives on motives-antecedents of SME alliances and the domains of exploration-exploitation to provide an integrated theoretical model. Specifically, the paper aims to determine the likely conditions which cause SMEs to opt for exploration or exploitation in each of the domains. Findings indicate that a combination of motives and antecedents at all three levels- firm-level, partner-level, and environmental-level, affect the three domains of SME exploration-exploitation alliances, namely functional, structural and attribute.
Keywords: Exploration-exploitation; SME alliances; SME alliance formation; resource-based view; ambidexterity; functional exploration-exploitation; structural exploration-exploitation; attribute exploration-exploitation; absorptive capacity; alliance formation; social networks; entrepreneurship
- INFLUENCE OF TRANSFORMATIONAL SERVANT LEADERSHIP STYLES AND JUSTICE PERCEPTIONS ON EMPLOYEE BURNOUT: A MODERATED MEDIATION MODEL
by Divya S, Suganthi L
Abstract: Todays managers need to possess strong leadership skills in order to combat the dynamic organizational demands. This study provides a unique insight into how two popular leadership styles- transformational leadership and servant leadership interact, when faced with employee burnout. A moderated mediation model is formulated with transformational leadership moderating the indirect effect of servant leadership on employee burnout through organizational justice. This model is empirically tested and proved in an information technology firm. The results support the model and provide new avenues for leadership research by providing a unique insight on how different leadership styles can be effective together. The practical implications of this study andrndirections for future research are discussed.
Keywords: Moderated mediation; transformational leadership; servant leadership; organizational justice; burnout.
- HESITATION TO ADOPTION IN THE E-GROCERY RETAILING IN AN EMERGING MARKET
by Bikramjit Rishi, H Pradeep, Manaswini Viswanathan
Abstract: The study aims to identify the various factors influencing adoption of e-grocery in India. The factors which have been analyzed in this study include guidance for shopping, transaction security, sensory perception while shopping and product assortment and availability. The impact of these factors has been studied on perceived risk, perceived communicability, perceived compatibility and perceived complexity. The interactions have been hypothesized to influence customers choice of shopping for groceries online. The sample has been selected from the MBA graduates from a leading business school in India as these MBA graduates have joined the program after the work experience and majority of them are married and they are the prospective innovators which will contribute hugely in the success of e-retailing in India. Questionnaire has been administered to 500 respondents and 440 respondents responded. Multiple regression analysis has been used to analyse the data. A thorough understanding of the factors influencing online grocery purchase adoption could lead to the designing effective marketing mix by online retailers to grow their business.
Keywords: E- Grocery, perceived risk, perceived communicability, perceived compatibility and perceived complexity
- Empirical research on the adoption and diffusion of e-commerce portals
by Sanjay Mohapatra, Kishore Chandra Sahu
Abstract: While many online business are spending much of their money on bringing the visitors to their websites, the rate at which the website visitors get converted to customers and do transactions is very less. This study investigated the various factors that affect the e-Commerce conversion rate. Results of the online survey with 160 online consumers of various e-Commerce websites in India indicate that visitors experience, user interface experience, post purchase experience, streamlined checkout process, advertisement and promotion, and m-commerce are significantly affects the visitors willingness in doing transaction and becoming loyal customers.
Keywords: e-Commerce; streamline check-out process; factors affecting e-Commerce conversion rate; B2B
- Exploring the critical success factors affecting the performance of management institutions
by P.L. Umayal Karpagam, L. Suganthi
Abstract: The role of education, especially business education is responsible for making management capable enough to cope with challenges due to globalisation. In the present market trend, the performance of the business schools (B-schools) captures a very significant role and holds major responsibility for the economy and the growth of a country. In order to support this situation and to assess B-schools, this research was started with the generic vision: to become a leader in management education. It follows a systematic approach in identifying and presenting the key performance indicators of management education in terms of objectives and measures of balanced scorecard and to build a framework using exploratory factor analysis, with a view to improve quality. Of many tools available for performance measurement, balanced scorecard (BSC) has a strict framework of four dimensions and gives importance to non-financial measures, which could assess the performance of institutions better.
Keywords: business schools; B-schools; performance evaluation; balanced scorecard; BSC; framework; exploratory factor analysis; EFA; objectives; management education; critical success factors; CSFs; quality improvement; leadership; key performance indicators; KPIs; non-financial measures.
- Variety seeking behaviour on Asian traditional food accompaniment - pickles
by Jayanthi Thanigan, G. Rajendran
Abstract: The study explores the relationship between the determinants and dependent variable. The moderating effect on the relationship is also examined. The study was carried out on pickles. Questionnaires were administrated through direct contact method to collect data. Multiple linear regression (MLR), ANOVA, independent t-test and general linear model (GLM) techniques were used to analyse both demographic and behaviour variables. The managerial implication and direction for future research has been discussed.
Keywords: variety seeking behaviour; VSB; need for variety; NFV; promotional deals; purchase frequency; perceived risk; hedonic motives; utilitarian motives; perceived brand difference; optimum stimulation level; OSL; cognitive orientation; social character; Asian traditional food; traditional food accompaniment; pickles; demographics; consumer behaviour.
- The viability of benefit segmentation in Tier-II cities of India - identifying benefits sought by Indian customers
by Anushree Tandon, Ashish Gupta, Vibhuti Tripathi
Abstract: The Indian retail industry has been affected by numerous changes, one of which is the evolving behaviour of Indian customers. Customers are no longer shy to express the benefits they seek from retail environments and are driven towards stores which meet their individual needs. The purpose of this paper is to understand the benefits sought by Tier II city customers from retailers. An extensive literature review was conducted to identify variables for the study which were incorporated into a structured questionnaire. The instrument was administered via a store intercept survey among department store shoppers in Indian Tier II cities of Allahabad and Kanpur. The data was analysed with exploratory factor analysis to identify specific benefits desired by the customers from the store. These benefits may be used by retailers for the purpose of segmentation and build a unique, differentiated positioning platform to attract/retain customers.
Keywords: retail industry; benefit segmentation; shopping; department stores; India; Tier II cities; customer benefits; retailing; customer attraction; customer retention.
- The relationship between total quality management practices and organisational performance at Jordanian hospitals
by Rateb J. Sweis, Khalid M.A. Al Ahmad, Ghadeer A. Al-Dweik, Afnan R. Alawneh, Ayman Abu Hammad
Abstract: This study aims at exploring the relationship between applying total quality management programmes (i.e., training, teamwork, top management commitment, continuous improvement, and customer satisfaction), and the organisational performance in Jordanian hospitals. A proposed research model and hypotheses are developed based on a comprehensive literature review. A questionnaire is used to collect data from a sample of managerial employees of major Jordanian hospitals. Regression analysis is performed to examine the relationships. Results reveal positive relationship between the total quality management practices and the organisational performance in Jordanian hospitals. Organisational performance is affected mostly by top management. The study concludes that organisational performance improves under the existence of the explored practices of quality management. The study implies that managers should consider quality improvement strategies as a top priority to enhance and promote the organisational performance and effectiveness.
Keywords: TQM practices; organisational performance; Jordan; healthcare management; total quality management; training; teamwork; top management commitment; continuous improvement; customer satisfaction; quality improvement strategies; organisational effectiveness.
- The music industry business model after internet: effects of innovation
by Silvia Novaes Zilber, Odair Froes De Abreu Jr.
Abstract: The aim of this study was to analyse the impact of the internet in the business model of selected components of the music industry chain. The introduction of the internet is understood to be an innovation that transformed the music industry. The method used was a multiple case study featuring four content creators (artists) and two-content distributors (a major label - Sony - and an indie label). The results showed changes in the product (becoming a digital rather than a physical product) and distribution (online retailers and disintermediation, which enables artists to connect with customers directly) as well as increased revenue for artists and indie distributors, which have benefited by publicising over the internet. The major distributors did not observe this increase in revenue, perhaps as a result of piracy.
Keywords: music industry transformation; internet; innovation; business models; disintermediation; product changes; digitalisation; digital music; online retailing; e-tailing; electronic retailing; music revenue; music artists; indie distributors; major distributors; music piracy.
- Customer relationship management practices in the online community - Wikipedia
by Shirin Alavi
Abstract: Wikipedia is multilingual and the largest open content website which depends on its users to produce information of value. Wikis are often used to create and power collaborative and community websites. The Wikipedia has over 5 million registered users and over 24 million articles out of which 4.1 million in English alone are written by volunteers around the world. Wiki articles can be edited by anyone who has access to them. The issue of who does the work in Wikipedia the few or the masses has been a subject of debate for quite long. This paper aims to analyse the Wikipedia virtual community, which is devoted to the creation of a free encyclopaedia. The key findings indicate that a small proportion of editors account for most of the work done and the value produced. The community dynamics of Wikipedia has been discussed, a conceptual model is proposed and further the CRM strategies have been formulated to attract, retain and engage editors in the Wikipedia Community. The right content developed in the Wikipedia Community would further be a good source for both academia and industry research purposes.
Keywords: customer relationship management; CRM strategies; online communities; virtual communities; web based communities; Wikipedia; survival analysis; regular editors; occasional editors; wikis; community dynamics; conceptual models.
Special Issue on: "Decision-Making Under Uncertainty Models and Approaches"
- Ant colony optimisation for a 2-stage capacitated vehicle routing problem with probabilistic demand increases
by Nihat Engin Toklu, Vassilis Papapanagiotou, Matthias Klumpp, Luca Maria Gambardella, Roberto Montemanni
Abstract: In this paper we address a 2-stage capacitated vehicle routing problem (CVRP) in which the demands are probabilistic and can only increase. In this CVRP variant the routes used by the fleet to satisfy the customers must be minimised. The customers' demands may increase with a probability after the beginning of the tours like the unexpected events that happen in a realistic environment. The existence of these events make sometimes the fleet fail to satisfy all the customers at their first try (1st stage). In this case, additional vehicles will be used to cover the rest of the demand (2nd stage). In this paper, an ant colony system is used to generate solutions and the effect of different objective functions used is shown. Conclusions are drawn on which evaluation method leads to near optimum routes and which to near optimum number of vehicles.
Keywords: metadata; ant colony optimisation; ACO; capacitated vehicle routing problem; CVRP; green bullwhip effect.
- On the usability of real option valuation model types under different types of uncertainty
by Mikael Collan, Tero Haahtela, Kalevi Kyläheiko
Abstract: This paper discusses the usability of real option valuation model types under different types of uncertainty. Three types of uncertainty are presented (parametric, structural and procedural), followed by a presentation of six different real option valuation types that are variably suitable for different uncertainties that in turn characterise real world decision-making situations. A usability-based mapping of real option valuation models with each type of uncertainty is made and discussed. Implications concerning decision-making are direct: wrong model selection may lead to unreliable or wrong results and, consequently, poor and often expensive investment decisions.
Keywords: real option valuation; ROV; decision-making; financial modelling; uncertainty.
- Environmental decision-making under uncertainty using a biologically-inspired simulation-optimisation algorithm for generating alternative perspectives
by Raha Imanirad, Xin-She Yang, Julian Scott Yeomans
Abstract: In solving many environmental policy formulation applications, it is generally preferable to formulate several quantifiably good alternatives that provide multiple, disparate approaches to the problem. This is because environmental decision-making typically involves complex problems that are riddled with incompatible performance objectives and possess competing design requirements which are very difficult - if not impossible - to quantify and capture at the time when supporting decision models must be constructed. By generating a set of maximally different solutions, it is hoped that some of the dissimilar alternatives can provide very different perspectives that may serve to satisfy the unmodelled objectives. This maximally different solution creation approach is referred to as modelling to generate-alternatives (MGA). This paper provides a biologically-inspired metaheuristic simulation-optimisation MGA method that can efficiently create multiple solution alternatives to environmental problems containing significant stochastic uncertainties that satisfy required system performance criteria and yet are maximally different in their decision spaces. The efficacy of this stochastic MGA approach for environmental policy formulation is demonstrated using a municipal solid waste case study. It is shown that this new computationally efficient algorithmic approach can simultaneously produce the desired number of maximally different solution alternatives in a single computational run of the procedure.
Keywords: modelling-to-generate-alternatives; MGA; biologically-inspired metaheuristic algorithms; firefly algorithm.
- AHP and weak consistency in the evaluation of works of art - a case study of a large problem
by Jan Stoklasa, Tomáš Talášek, Jana Talašová
Abstract: The paper describes an evaluation methodology based on Saaty's AHP, that relaxes the classical Saaty's consistency condition and works with the concept of weak consistency. Weak consistency is seen as a minimum requirement on the consistency of experts' preferences. The relationship of weak consistency and the linguistic level of consistency description using the Saaty's scale is discussed in the paper. The benefits of using weak consistency with large problems are presented - for data input, for the flexibility of the mathematical model and to facilitate further adjustments of the evaluation methodology. In the case of pairwise comparison matrices with ordered categories, the fulfilment of weak consistency can be checked during the data input phase. This way the weak consistency of pairwise comparison matrices can be achieved even for large numbers of categories - unlike the full consistency in Saaty's sense. The paper also provides a case study of a practical application of the proposed evaluation methodology - the mathematical model for the evaluation of creative work outcomes of Czech Art Colleges. The case presented here combines evaluation based on objective criteria with peer review and suggests a possible solution to the problem of arts evaluation for funding purposes.
Keywords: analytic hierarchy process; AHP; multiple criteria evaluation; MCDM; consistency; art.
- Can size-, industry-, and leverage-adjustment of valuation ratios benefit the value investor?
by Eero J. Pätäri, Ville Karell, Pasi Luukka
Abstract: This paper introduces a new and innovative methodology for value portfolio selection by adjusting the conventional valuation ratios on the basis of firm size, financial leverage and industry classification and combining them as single selection criteria. The tercile portfolios are composed of a comprehensive sample of Finnish non-financial stocks based on their adjusted valuation. The performance of portfolios is evaluated on the basis of the average return and several risk-adjusted performance metrics throughout the 1996-2013 sample period. The results show that the suggested multidimensional combination criteria can add value to equity portfolio selection. The outperformance of such top-tercile portfolios in contrast to both the comparable bottom portfolios and the stock market portfolio is statistically significant on the basis of all performance metrics employed. The methodology employed offers an interesting alternative for identifying undervalued stocks by capturing both several dimensions of relative value and several peer-group comparisons at the same time.
Keywords: value premium; valuation multiples; value strategies; investment analysis; composite value measures; value anomalies; portfolio performance measurement.
- A review of real options approaches: applying models to value a medical device project
by Kelsey Barton, Yuri Lawryshyn
Abstract: A number of practical real options approaches in literature, some of which have been embraced by industry, lack financial rigor, while many theoretical approaches are not practically implementable. Industry surveys reveal that managers are reluctant to apply some of the more theoretical real options approaches due to their lack of transparency, their complexity, and because of the lack of firm acceptance and top management support. In this paper we compare and contrast five real options approaches designed for managers and apply each to value a medical device product development project. The medical device project is modelled as a compound call option, and the results are contrasted to a traditional NPV calculation. Issues of volatility estimation and the possibility of arbitrage opportunities in the pricing procedures are examined.
Keywords: real options; sequential compound options; managerial information; medical devices; volatility estimation.
- Managing uncertainty in long life cycle investments: unifying investment planning, management, and post-audit with a fuzzy DSS
by Jaana Sandström, Kalevi Kyläheiko, Mikael Collan
Abstract: Capital investments with long life cycles are commonly planned and analysed carefully before the investment decision is taken. However, it is often the case after the investment decision, during the operational management of the investment and throughout the economic life of investments that the monitoring of the overall profitability is more or less random. Post-audits are commonly used, ex-post to find out how the investment profitability actually played out. Planning, operational management, and post-audits are separate processes and there are commonly discontinuities between them that create remarkable inefficiencies both in management and corporate learning for future investments. This article considers unifying the separate processes of planning, management, and post-audit into one dynamic investment profitability management process. Use of information systems as a tool to achieve the task is discussed and an example of a fuzzy number-based dynamic profitability analysis system is used for illustration.
Keywords: operational management; fuzzy numbers; management information systems; capital budgeting.
- Credibilistic risk aversion and prudence
by Irina Georgescu, Jani Kinnunen
Abstract: Risk aversion and prudence are well-studied topics in probabilistic risk theory. This paper uses credibility theory of B. Liu and Y. Liu to approach these closely related concepts. The risk situations are modelled by fuzzy variables and the indicators of risk aversion and prudence are defined in the context of credibilistic expected utility theory. Approximate calculation formulas for these indicators are established and their properties are examined. The paper establishes relationships between credibilistic risk aversion and prudence, as well as, between credibilistic prudence and optimal precautionary saving.
Keywords: credibility theory; risk aversion; prudence; precautionary saving.