International Journal of Transitions and Innovation Systems (12 papers in press)
Influencing Factors on the Entrants Motivation and Ability in the Context of the Disruption Process: A Cross-Country Study in the Western European PWLAN Market
by Stefan Huesig, Katalin Timar, Claudia Doblinger
Abstract: This paper explores how regulation affects the motivation and ability of entrant firms to create successful new sub-markets that are shaped by a potential disruptive innovation. We focus on the telecommunication industry, particularly on the hotspot sub-market, to study these effects in the context of a network industry. In this setting, the impact of a potentially disruptive innovation might be different because of the institutional embeddedness of incumbent and entrant firms. We examine this phenomenon by analyzing the entrants strategies and success of market entry into the hotspot sub-market in 17 Western European countries. The results indicate that the sub-market success of entrants in regulated markets depends both on the regulation and the resistance of incumbents to regulation in a specific country.
Keywords: Regulation; Network Industry; Disruptive; Sustaining Innovation; Telecommunications.
From Big Data to Smart Data: Algorithm for Cross-Evaluation (ACE) as a Novel Method for Large-Scale Survey Analysis
by Darko Kantoci, Emir Dzanic, Marcel Bogers
Abstract: Current research is increasingly relying on large data analysis to provide insights into trends and patterns across a variety of organizational and business contexts. Existing methods for large-scale data analysis do not fully capture some of the key challenges with data in large data sets, such as non-response rates or missing data. One method that does address these challenges is the SunCore Algorithm for Cross-Evaluation (ACE). ACE provides a view of the whole data set in a multidimensional mathematical space by performing consistency and cluster analysis to fill in the gaps, thereby illumining trends and patterns previously invisible within such data sets. This approach to data analysis meaningfully complements classical statistical approaches. We argue that the value of the ACE algorithm lies in turning big data into smart data by predicting gaps in large data sets. We illustrate the use of ACE in connection to a survey on employees perception of the innovative ability within their company by looking at consistency and cluster analysis.
Keywords: statistical modelling; statistical algorithm; survey analysis; consistency analysis; cluster analysis; data trends; data patterns; data correlation; non-ignorable missing data; non-response missing data; cross evaluation; big data; smart data; innovation survey; food processing company.
The Blockchain and the sidechain innovations for the electronic commerce beyond the Bitcoin's framework
by Olivier HUEBER
Abstract: After a description of the blockchain that underpins the Bitcoins, this paper provides a new mechanism to reinforce the credibility of online transactions blockchain technology based. It then becomes possible to explore the future of the blockchain technology in other online electronic markets of goods and services. We assert that the blockchain technology, still linked with the bitcoins, could become in a near future the keystone of many electronic markets and could considerably increase online transactions. A cryptocurrency regime based on sidechain is modeled and a public blockchain controlled by a Central is proposed.
Keywords: Blockchain; Sidechain; Bitcoin; Crypto-currency; memory; payment system; online market; electronic money; monetary regime.
Technology Readiness Levels enhancing R&D Management and Technology Transfer Capabilities: Insights from a Public Utility in Northwest USA.
by Joao Lavoie, Tugrul Daim
Abstract: It is important for organizations to set their strategies so they can envision long-term goals and plan to achieve them, and there are solidly established methods and studies about the subject. To manage technology development efforts is equally important, especially to decide which technologies should be invested in and when those technologies are ready to be used. The technology readiness levels (TRL), developed by NASA, appear as a method to inform managers about the readiness of technologies under development, thus helping organizations in their decision-making processes regarding technology and product development. The objective of this study is to understand the history and main characteristics of TRLs and how the method can benefit R&D management and technology transfer. Interviews were conducted with technology managers in an electric utility in the Northwest USA, and results show that competitive advantage can be achieved through the use of TRLs.
Keywords: technology readiness levels; technology readiness assessment; technology management; technology transfer; R&D management; competitive advantage; energy technology management.
Open Innovation in Financial Institutions: Individual and Organizational Considerations
by Dimitrios Salampasis, Anne Laure Mention
Abstract: This qualitative empirical paper, aims at shedding light to the under-developed human side of open innovation by bringing insights from the financial industry. There is a need to gain more knowledge, insights and a better understanding regarding the role individual and organizational factors play-together with technology and capital-in the process of adopting and implementing open innovation practices in financial institutions. On these grounds, this paper contributes to the existing literature by unveiling the peculiarities of the dynamic interconnection between the individual and the organizational spheres. This multifaceted interconnection captures a) the profile of an open innovation leader and b) the organizational ingredients, practices and mechanisms contributing to the creation of an open innovation corporate environment. Primary data has been collected from 30 in-depth semi-structured interviews conducted with C-level Executives of major financial institutions in Europe, Americas and Asia-Pacific and approximately 100 job opening and descriptions have been reviewed. This paper accentuates the emergent need for sharpening the understanding that for open innovation to be meaningful and successful, in the financial industry, the human element must be put back on the agenda and strategic intent of the industry, per se, especially in the face of unprecedented global and market challenges. The adoption and implementation of open innovation practices, in the financial industry, requires individual, organizational and cultural readiness. To that respect, the development of dedicated internal open innovation capabilities and the establishment of dedicated open innovation teams become crucial. Capturing the individual multifaceted profile of an open innovation leader requires the contribution and nurturing through the organizational climate and culture, along, with solid talent acquisition/retention, learning and development mechanisms and adequate education, training and motivation. This paper shares novel academic and managerial implications on the dynamic co-dependence of the individual and organizational spheres towards embracing open innovation within humanly-embedded financial institutions.
Keywords: Open Innovation; Financial Industry; Qualitative; Human Side; Individual; Organizational; Interviews; Leadership Traits; Capabilities.
Special Issue on: Family Entrepreneurship in Transition and Emerging Economies
The importance of intellectual capital in the selection of global marketing strategies: Evidence from family businesses in Macedonia
by Gadaf Rexhepi, Abdylmenaf Bexheti, Sadudin Ibraimi, Selma Kurtishi-Kastrati
Abstract: The role of intellectual capital is becoming very important mainly because of the influence in formulation and implementation of strategies in global markets. This research examines the link between intellectual capital and global marketing strategies. This research emphasizes the link that intellectual capital has in creating competitive advantage through selection of global marketing strategies. This will help companies on using intellectual capital in selecting global marketing strategies in the internationalization process. Research results showed that there is relationship between intellectual capital and formulation and selection of strategies.
Keywords: global marketing; global marketing strategies; intellectual capital; strategy formulation; family businesses; Macedonia.
The Impact of Human Resources Management on the Effectiveness of Family Businesses
by Selajdin Abduli
Abstract: Human resources management functions, practices and procedures nowadays are very important and their role is continuously increasing if we consider an economy which relies ever more on knowledge. In this way, necessarily arises the need for careful management in the allocation and use of this labour force, not only in fulfilling the vacancy, but it is even more important to achieve and ensure increased efficiency of its use in the production process of goods and services that guarantee the growth of welfare or the level of living standard of society members. The survival of every family business is dependent on the effective management of human resources. The evaluation and performance management of employees has an impact on the increase of the effectiveness of the family business. The effective management of a family business needs to focus on reforms of the educational system and professional development of its workers. The literature review on this topic in this article is supported by the empirical analysis, in which 150 businesses in the Republic of Macedonia are surveyed.
Keywords: Human resource management; effectiveness; family businesses; performance; Macedonia.
Family firms in the Arab world: Culture influences on Socioemotional Wealth.
by Damiano Petrolo, Massimiliano Pellegrini, Younis Abukhalaf
Abstract: The Arab world is an area of growing economic significance, resulting in dynamic developing and transaction economies. In such a scenario, family firms are predominant and the backbone of the system. Due to the overlapping of the business and family logics, family firms differ from the traditional businesses, especially in terms of goal-setting and strategies. The aim of this paper is to contextualise the Socioemotional Wealth (SEW) perspective in the light of specific influences that the cultural embeddedness of the Arab culture asserts. For this purpose, 15 semi-structured interviews with Jordanian family businesses have been carried out. Through a coding analysis, four main cultural elements in the behavioural dynamics of Arab family businesses emerged: i) favouritism and nepotism; ii) patriarchal approach; iii) public persona; and iv) self-serving bias. We related all these cultural influences to the dimension of SEW to obtain a stratified framework which may help in understating family firms beyond traditional economic contexts.
Keywords: Family Business; Socioemotional wealth; Arab culture; Contextualisation study.
CONFLICTS IN FAMILY BUSINESSES: NATURE AND EFFECTS
by Avni Arifi
Abstract: The purpose of this paper is to analyze the nature and impact of conflicts in the functioning of family businesses in Macedonia. We use a case based study, where family businesses that operate in different markets in the country are surveyed. The survey was conducted through a structured questionnaire where a representative of family business was asked about issues regarding the nature of conflict, frequency of conflict, its effect, etc. It is concluded that conflicts are inevitable part of almost all family business that were surveyed, 88% claimed that they have experienced a different form of conflict in the last twelve months and that the main negative effects were on the performance of family business. The paper gives some important information about the conflict and its impact on family business. It also has practical implication on family business owners and researchers in Macedonia.
Keywords: Family businesses; conflicts; functioning; effects.
Management and development differences of family businesses between two different generations
by Veton Jahmurataj
Abstract: Family businesses encounter the same success factors as all other companies, as such they need to develop a managing system and seek their position in the market in order to ensure a sustainable development. Family businesses face different challenges and, finding a mechanism to manage differences and conflicts have always been a challenge for these businesses. In this regard, many of these differences are caused by conflicts and misunderstandings between different generations and understanding the differences between generations may help family businesses creating a sustainable, long-term and competitive business. Family businesses are primarily managed by the owner and the family is involved in business. Hence, when the founder of the business retires, the property is transferred to the successors. Nothing affects a family business more than changing the founding owner and transferring power to his descendants. The transfer may create a loss of vision and purpose, as the successors may have opposing views on how the business should be run or how it should be developed. This paper presents quantitative data to address management and development differences of family businesses between two different generations (in the context of family business being run by the founder and when family business is led by the successor) and comparing the development of these businesses between two periods of time.
Keywords: Family business; generational differences; business development; management periods.
The impact of quality programs on family businesses performance
by Valbona Ramuka, Gadaf Rexhepi
Abstract: The role of quality programs is one of the most important aspects that family businesses should take into consideration. This requires from companies to define its quality programs, and find out which are theyre most important element relating quality in order to improve it. The point of this study is to analyze the effect of the implementation of quality programs on family businesses. This is done by analyzing the productivity and the financial performance by analyzing the impact that implementation of quality program has. The research in conducted in 46 family businesses in the Republic of Macedonia who use different quality programs. From the empirical result we can conclude that the implementation of quality programs had a very high impact on the increase on the productivity and in the increase of the financial performance of family businesses.
Keywords: quality; quality programs; productivity; performance; family business.
EMPLOYEE ENGAGEMENT: A COMPARATIVE STUDY OF FAMILY AND NON-FAMILY BUSINESSES
by Emil Knezovic, Ramo Palalic, Azra Bico, Arnela Dilovic
Abstract: The purpose of this study is to analyse the antecedents of employee engagement in family and non-family businesses by using the model developed by Saks (2006). Further, the study examines whether there is a difference in employee engagement between employees in family and non-family firms. A quantitative study is applied through cross-sectional survey method by using online questionnaire for data collection. The final sample consists of 126 participants out of which 68 were employees in family businesses and 58 in non-family businesses. The results gave little support for both hypotheses. The partial support was found in the model of antecedents of employee engagement while no support was found for the difference in employee engagement when it comes to comparison between employees in family and non-family businesses.
Keywords: Employee engagement; family business; non-family business.