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J. Open Innov. Technol. Mark. Complex., Volume 7, Issue 3 (September 2021) – 42 articles

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14 pages, 2259 KiB  
Article
Digital Transformation and Strategy in the Banking Sector: Evaluating the Acceptance Rate of E-Services
by Fotis Kitsios, Ioannis Giatsidis and Maria Kamariotou
J. Open Innov. Technol. Mark. Complex. 2021, 7(3), 204; https://doi.org/10.3390/joitmc7030204 - 21 Sep 2021
Cited by 65 | Viewed by 21752
Abstract
Digital transformation in the banking sector is a continuous process that affects both the external and internal environment by redesigning internal processes and existing methods. There are many reasons that digital transformation takes place, such as servicing remote areas without physical branches, differentiation [...] Read more.
Digital transformation in the banking sector is a continuous process that affects both the external and internal environment by redesigning internal processes and existing methods. There are many reasons that digital transformation takes place, such as servicing remote areas without physical branches, differentiation from competitors or reduction of operating costs. In any case, there are a lot of doubts about the acceptance of digital technologies. Thus, this article examines the acceptance rate of digital transformation in the banking sector in Greece. One hundred and sixty-one employees at Greek banks completed the survey. A Multivariate Regression Analysis was implemented to analyze the items of the Technology Acceptance Model. The findings of this paper indicate the perception of bank employees with regard to new technologies. This paper provides a practical contribution for executives of Greek banking organizations to schedule targeted educational programs to facilitate the transition to the new digital era for their employees. Executives are curious if employees are ready to accept and implement digitalization in their daily job routine. Therefore, the Technology Acceptance Model can provide answers to executives in facing these challenges. Full article
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16 pages, 462 KiB  
Article
How Do Alliance Portfolio Factors Affect a Precision Medicine Firm’s Innovation Performance?
by Yucheong Chon and Kwangsoo Shin
J. Open Innov. Technol. Mark. Complex. 2021, 7(3), 203; https://doi.org/10.3390/joitmc7030203 - 13 Sep 2021
Cited by 2 | Viewed by 1821
Abstract
Precision medicine is an approach to disease treatment and prevention that seeks to maximize effectiveness by taking into account individual variability in genes, environment, and lifestyle. The medical paradigm has been changed with the emergence of precision medicine and many companies with business [...] Read more.
Precision medicine is an approach to disease treatment and prevention that seeks to maximize effectiveness by taking into account individual variability in genes, environment, and lifestyle. The medical paradigm has been changed with the emergence of precision medicine and many companies with business related to precision medicine should cooperate with other companies. The purpose of this study is to analyze the alliance portfolio factors that affect firms’ innovation performance. This study examined whether the diversity factors of the alliance portfolio and alliance management capability influenced its innovation performance. Additionally, we investigated the moderate effects of participation of research organizations in the alliance portfolio. As a result, there was an inverted U-shaped relationship between the industry diversity of the portfolio and innovation performance; therefore, the participation of research organizations in the alliance portfolio showed a positive effect. Additionally, the value governance diversity changed to have a positive effect by interacting with research organizations. This study provides information on the alliance portfolio factors that affect the innovation performance of precision medicine companies. Full article
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20 pages, 359 KiB  
Article
Influence of the Residents’ Perception of Overtourism on the Selection of Innovative Anti-Overtourism Solutions
by Michał Żemła and Adam R. Szromek
J. Open Innov. Technol. Mark. Complex. 2021, 7(3), 202; https://doi.org/10.3390/joitmc7030202 - 10 Sep 2021
Cited by 6 | Viewed by 2886
Abstract
With a constantly and rapidly increasing number of publications, modern expertise on overtourism is becoming increasingly complete. However, a subject that has not been sufficiently presented in the literature thus far is the issue of identifying groups of inhabitants of various destinations that [...] Read more.
With a constantly and rapidly increasing number of publications, modern expertise on overtourism is becoming increasingly complete. However, a subject that has not been sufficiently presented in the literature thus far is the issue of identifying groups of inhabitants of various destinations that are most severely affected by overtourism and the perception of innovative remedial solutions. In numerous previous publications that analyzed the impact of overtourism on the inhabitants of destinations, the inhabitants were most often treated as a homogeneous group. Therefore, the main goal of this article is to describe the phenomenon of overtourism from the perspective of residents of two Polish tourist destinations and propose innovative solutions to the problem of tourist overcrowding, dedicated to areas with different specificities. Empirical research was conducted among the inhabitants of popular destinations in Poland—Kraków and Białka Tatrzańska—where overtourism has been noted in the scientific literature in recent years. The results allow us to outline significant differences in how the impact of overtourism is perceived by the inhabitants of a large city and a peripheral tourist resort. Additionally, the research demonstrated that respondents who live in the central part of a tourist destination much more clearly perceive their exposure to the effects of overtourism than the inhabitants of other parts, and that this phenomenon is more evident in cities than in resorts. According to the diagnosis of the situation, it was proposed to implement open innovations in the nature of preventive solutions. Full article
19 pages, 1948 KiB  
Article
The Staged Competition Innovation Theory
by Christopher A. Jensen
J. Open Innov. Technol. Mark. Complex. 2021, 7(3), 201; https://doi.org/10.3390/joitmc7030201 - 10 Sep 2021
Cited by 7 | Viewed by 3012
Abstract
Innovation is critical to technological progress and has many theories to explain its processes. Organised competition has been shown empirically to provide an alternative pathway for innovation within an industry, increasing innovation rates and radicalness. This research introduces and develops the new staged [...] Read more.
Innovation is critical to technological progress and has many theories to explain its processes. Organised competition has been shown empirically to provide an alternative pathway for innovation within an industry, increasing innovation rates and radicalness. This research introduces and develops the new staged competition innovation theory which builds on the well-understood diffusion of innovation theory and the Technology–Organisation–Environment framework to explain how decision-making and technological, organisational, and environmental characteristics of industry-based competition can drive innovation activity. The new theory comprises three principles that demonstrate how a well-designed staged competition provides: (1) a unique innovation mechanism away from parent industry constraints, (2) a unique agile environment that can increase innovation development, and (3) a return pathway for adoption back to the parent industry. Principle 2 addresses the specific competition environment criteria required to drive innovation, beginning with a co-dependency between organiser and teams in providing team confidence and a mutually beneficial outcome for both parties. Relative advantage drives teams to innovate by generating competitive pressure, while a variable solution space due to competition specific rules and competition brief clarity direct innovation efforts. Finally, competition repetition provides ongoing innovation transfer between teams within the competition and to the parent industry. Full article
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17 pages, 841 KiB  
Article
Efficiency of Public R&D Management Agency and Its Improvement toward Open Innovation
by Byung-Yong Hwang, Sung-Hun Park and Dae-Cheol Kim
J. Open Innov. Technol. Mark. Complex. 2021, 7(3), 200; https://doi.org/10.3390/joitmc7030200 - 9 Sep 2021
Cited by 1 | Viewed by 1911
Abstract
R&D management agencies have been taking on key roles in the national R&D ecosystem. The purpose of this study is to suggest ways to improve the role of R&D management agencies for R&D planning and evaluation. It analyzed the regulatory system and relative [...] Read more.
R&D management agencies have been taking on key roles in the national R&D ecosystem. The purpose of this study is to suggest ways to improve the role of R&D management agencies for R&D planning and evaluation. It analyzed the regulatory system and relative efficiency of the current use of planning and evaluation cost. Data-collection sources included documents, surveys, and interviews with staff members in agencies responsible for national R&D management. By using DEA models, relative efficiency was measured. Based on the analysis results, we present suggestions for improvement in three areas: (a) establishment of institutional basis; (b) improvement of budget process; (c) improvement measures depending on the causes of inefficiency. Finally, future directions and the limits of this study are discussed. Full article
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17 pages, 492 KiB  
Article
Intellectual Capital Change Management in the Construction Industry—The Case of an Inter-Organisational Collaboration
by José Vale, Nádia Barbosa, Rui Bertuzi, Ana Maria Bandeira and Vera Teixeira Vale
J. Open Innov. Technol. Mark. Complex. 2021, 7(3), 199; https://doi.org/10.3390/joitmc7030199 - 9 Sep 2021
Cited by 3 | Viewed by 1988
Abstract
Nowadays, due to the complexity of the relationships with external entities, along with the importance that traditional media and the innovative social media have in creating competitive advantages, it is necessary for companies to collaborate in order to create Intellectual Capital (IC). Although [...] Read more.
Nowadays, due to the complexity of the relationships with external entities, along with the importance that traditional media and the innovative social media have in creating competitive advantages, it is necessary for companies to collaborate in order to create Intellectual Capital (IC). Although collaboration is crucial to create IC, there is a paucity in literature regarding the effects that a specific type of collaboration may have on the IC of an organisation, specifically a franchising with a mediatic actor. Moreover, literature addressing IC creation and destruction over time is scarce, especially when applied to the construction industry. This paper’s goal is twofold: understanding the longitudinal changes of a construction SME’s Intellectual Capital, regarding its creation and destruction; analysing the impact that a specific inter-organisational collaboration franchising—with a mediatic actor may have on such IC. A single in-depth case study was conducted, allowing to conclude that the actions of an organisation can develop both Intellectual Assets and Intellectual Liabilities. It was also concluded that inter-organisational collaboration, through a franchise with an actor with experience in communication, can generate, in the long term, positive and innovative effects regarding the different IC components, namely the Relational one. More specifically, the paper allowed to ascertain that an organisation’s IC changes over time in a dynamic fashion, i.e., Intellectual Liabilities which emerged before an innovative collaboration can be transformed into Intellectual Assets and create competitive advantages. This paper contributes to stress the importance of managing IC, not only when it is created, but namely in when it can be destroyed, in a context of inter-organisational collaborations applied to a construction SME. Full article
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18 pages, 864 KiB  
Article
Technological Innovation, the Kyoto Protocol, and Open Innovation
by Yoomi Kim
J. Open Innov. Technol. Mark. Complex. 2021, 7(3), 198; https://doi.org/10.3390/joitmc7030198 - 8 Sep 2021
Cited by 3 | Viewed by 2344
Abstract
This study investigates the role of technological innovation in increasing the effectiveness of the Kyoto Protocol in terms of greenhouse gas (GHG) mitigation. Panel data showing the number of patents for climate change mitigation technology as a measure of innovation are obtained from [...] Read more.
This study investigates the role of technological innovation in increasing the effectiveness of the Kyoto Protocol in terms of greenhouse gas (GHG) mitigation. Panel data showing the number of patents for climate change mitigation technology as a measure of innovation are obtained from 54 countries for the period 1990–2015 to verify whether technological innovation is effective in reducing GHG emissions and whether it has a significant synergetic relationship with the Kyoto Protocol. The historical trends in the number of patents for climate change mitigation technology reveal a relationship between the Kyoto Protocol and technological innovation and show differences between specific types of mitigation technology. Based on these innovation data, this study conducts two-stage least squares analysis that considers the time-lag effect. The empirical results confirm that mitigation innovations for buildings and the production or processing of goods have a strong positive association with GHG emission reduction. The findings also support the long-term synergetic effect between innovation and participation in the Kyoto Protocol in terms of GHG mitigation. This study contributes to international climate change governance by providing empirical evidence for technological innovation’s role in strengthening the effectiveness of international regimes and implications for promoting open innovation. Full article
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24 pages, 1355 KiB  
Article
Challenges and Opportunities for Technology Transfer Networks in the Context of Open Innovation: Russian Experience
by Nadezhda Shmeleva, Leyla Gamidullaeva, Tatyana Tolstykh and Denis Lazarenko
J. Open Innov. Technol. Mark. Complex. 2021, 7(3), 197; https://doi.org/10.3390/joitmc7030197 - 3 Sep 2021
Cited by 19 | Viewed by 5212
Abstract
Nowadays, the relevance of technology transfer center network has been greatly increased due to interdisciplinary modern innovations, and cross-sectoral collaboration in project implementation. This paper highlights theoretical and conceptual foundations of technology transfer, and the role of innovation and knowledge. The main purpose [...] Read more.
Nowadays, the relevance of technology transfer center network has been greatly increased due to interdisciplinary modern innovations, and cross-sectoral collaboration in project implementation. This paper highlights theoretical and conceptual foundations of technology transfer, and the role of innovation and knowledge. The main purpose of the paper is to analyze the experience of creating technology transfer networks in Russia, and to develop prospective national technology transfer model based on the concept of innovation ecosystem and open innovation. Being a knowledge integrator, a university plays a vital role in technology transfer. The presented study makes contribution to the academic literature by providing a synthesis on related concepts of open innovation, network, and ecosystem approaches to technology transfer. The results of this analysis provide information on prospective models for creating a network of technology transfer in Russia. That will help academics, policymakers, government, and business owners with a more depth understanding of the practical mechanisms that support innovation strategy. Full article
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14 pages, 791 KiB  
Article
The Crowdfunding Model, Collective Intelligence, and Open Innovation
by Sangjae Pyo, Hyoung-Ryul Ma, Sumi Na and Dong-Hoon Oh
J. Open Innov. Technol. Mark. Complex. 2021, 7(3), 196; https://doi.org/10.3390/joitmc7030196 - 2 Sep 2021
Viewed by 2705
Abstract
In recent years, crowdfunding has attracted the attention of tech startups. It has become a good alternative way to readily raise funds, especially during the early startup stages. However, in the case of mass intelligence, it is quite difficult to ensure the accuracy [...] Read more.
In recent years, crowdfunding has attracted the attention of tech startups. It has become a good alternative way to readily raise funds, especially during the early startup stages. However, in the case of mass intelligence, it is quite difficult to ensure the accuracy and reliability of knowledge. Individual investors who are not experts in science and technology often face difficulties investing in technology companies. In this regard, a new type of collective intelligence formed by accredited professionals needs to be attempted. This paper explores an alternative crowdfunding model for enhancing access to technology investments by the general population through an investor acceptance model. We developed an investor acceptance model to examine how the crowdfunding model involving scientists and engineers is adopted by individual investors using survey data from the general population. The results revealed that individual investors have a positive attitude towards investing through the crowdfunding model when they perceive that the information provided by a group of scientific experts is useful. We found that the perceived usefulness of the information from scientists and engineers is affected by the perceived quality of the information and perceived credibility of the scientists and engineers. We also suggest a basic concept for the crowdfunding model utilizing the collective intelligence of scientists and engineers for tech startups. The results could suggest a policy direction for promoting innovation. Full article
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21 pages, 1856 KiB  
Article
Business Innovations in the New Mobility Market during the COVID-19 with the Possibility of Open Business Model Innovation
by Katarzyna Turoń and Andrzej Kubik
J. Open Innov. Technol. Mark. Complex. 2021, 7(3), 195; https://doi.org/10.3390/joitmc7030195 - 1 Sep 2021
Cited by 19 | Viewed by 4614
Abstract
The current difficult situation in the world caused by the spread of the COVID-19 virus has led to the development of problems in many branches of the economy. However, it has significantly affected transport, which on the one hand, is the bloodstream of [...] Read more.
The current difficult situation in the world caused by the spread of the COVID-19 virus has led to the development of problems in many branches of the economy. However, it has significantly affected transport, which on the one hand, is the bloodstream of the economy and, on the other hand, creates a threat for virus infection. Thus, in various countries, different mobility-related restrictions during pandemic policies around the world have been introduced. What is more, plans for initiatives after lockdown have also started to appear. Moreover, not have only cities introduced appropriate management policies, but companies have also started providing logistics services, especially those offering new mobility solutions. We found a literature and research gap indicating the recording or combination of the different types of business practices and innovations used worldwide in new mobility companies in the case of a pandemic situation. Therefore, this article is dedicated to the business innovations that appear in the new mobility industry during the COVID-19 pandemic in connection to post-pandemic transportation plans in Asia, Europe, and America. In this work, we conducted two-level research based on the desk research and expert research methodologies. From the business point of view, the results show that car-sharing systems (most organizational practices) and ride-sharing services (most safety practices) have most adapted their business models to pandemic changes. In turn, bike-sharing services have implemented the fewest business practices and innovations. From the urban transport systems point of view, the results show that European authorities have proposed the most plans and practice projects for new mobility after the pandemic compared to Asia and America. The obtained results indicate, however, that business practices do not coincide with the authorities’ plans for transport after the pandemic. Moreover, the results show a lack of complementarity between the developed practices and a reluctance to create open innovations in the new mobility industry. The article supports the management of new mobility systems in times of pandemic and in post-COVID reality. Full article
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15 pages, 1707 KiB  
Article
Digital Trading Applications and Bank Performance: Evidence from Russia
by Anton Lisin, Kristina Shvandar, Artur Meynkhard, Mafura Uandykova, Serhat Yuksel, Konstantin Kalmikov, Oleg Litvishko and Xenia Tabachkova
J. Open Innov. Technol. Mark. Complex. 2021, 7(3), 194; https://doi.org/10.3390/joitmc7030194 - 1 Sep 2021
Cited by 2 | Viewed by 2489
Abstract
Digital trading apps are evidence of developing open innovations in the financial sector. The investment industry (including banks and brokers) can greatly benefit from the utilization of digital trading applications and corresponding tools, such as smart contracts. The goal of this research paper [...] Read more.
Digital trading apps are evidence of developing open innovations in the financial sector. The investment industry (including banks and brokers) can greatly benefit from the utilization of digital trading applications and corresponding tools, such as smart contracts. The goal of this research paper is to examine the possibility that brokers’ existing mobile apps outperform banks without mobile apps in the Russian financial sector. The efficiency of brokers is compared to banks in Russia. The results of these institutions’ activities are related to the number of profitable banks, which declines as a sign of high efficiency. The paper uses methods of t-test, linear and polynomial regression analysis between assets (dependent variable) and the profit to assets (independent variable) in Russia. The article finds the different directions of the utilization of the discussed technology, and they all share the consequential growth after the technology’s introduction. The paper also discusses the various areas of digital trading apps implementation and the future contributions for the Russian banking system and economy. Full article
(This article belongs to the Special Issue Financial Open Innovations for Sustainable Economic Growth)
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14 pages, 1012 KiB  
Article
Knowledge Networks and the Role of Family Firms: The Case of an Italian Regional Cluster
by Stefano Ghinoi, Riccardo De Vita, Bodo Steiner and Alessandro Sinatra
J. Open Innov. Technol. Mark. Complex. 2021, 7(3), 193; https://doi.org/10.3390/joitmc7030193 - 1 Sep 2021
Viewed by 1662
Abstract
Studies on open innovation (OI) have highlighted the importance of inter-organizational knowledge networks. However, little is known about OI networks established by family firms, and their roles in such knowledge networks. By focusing on one of the most important Italian footwear clusters, this [...] Read more.
Studies on open innovation (OI) have highlighted the importance of inter-organizational knowledge networks. However, little is known about OI networks established by family firms, and their roles in such knowledge networks. By focusing on one of the most important Italian footwear clusters, this paper applies Social Network Analysis to investigate the role of family firms in exchanging knowledge according to their intra-cluster position and extra-cluster openness. Our results provide novel evidence on the role of family firms in OI networks, as they suggest that family firms mainly operate as gatekeepers in the technological and managerial networks, while they act as external stars in the market and managerial networks. Full article
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18 pages, 1150 KiB  
Article
An Analysis of the Competitive Actions of Boeing and Airbus in the Aerospace Industry Based on the Competitive Dynamics Model
by Ayoung Woo, Bokyung Park, Hyekyung Sung, Hyunjin Yong, Jiyeon Chae and Seungho Choi
J. Open Innov. Technol. Mark. Complex. 2021, 7(3), 192; https://doi.org/10.3390/joitmc7030192 - 31 Aug 2021
Cited by 7 | Viewed by 41251
Abstract
Focusing on competitive dynamics, this study examines the strategic issues Boeing has faced in seeking to maintain its leading position in the airline industry. Boeing’s status as a first mover in the aerospace industry has made it a world-leading company; however, the external [...] Read more.
Focusing on competitive dynamics, this study examines the strategic issues Boeing has faced in seeking to maintain its leading position in the airline industry. Boeing’s status as a first mover in the aerospace industry has made it a world-leading company; however, the external environment and various pressures have allowed Airbus to emerge as a strong competitor. By conducting a descriptive case analysis, this paper identifies the competitive issues between these two giants, analyzing continuous action and reaction processes throughout the whole history of the airline industry. Finally, by examining Boeing’s main strengths, business diversification options, and risk-taking culture, this paper suggests ways Boeing can retake its place as the industry leader. Full article
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23 pages, 1708 KiB  
Article
From Catching Up to Convergence of the Latecomer Firms: Comparing Behavior and Innovation Systems of Firms in Korea and the US
by Buru Im and Keun Lee
J. Open Innov. Technol. Mark. Complex. 2021, 7(3), 191; https://doi.org/10.3390/joitmc7030191 - 30 Aug 2021
Cited by 4 | Viewed by 1891
Abstract
This paper addresses the issue of catching and convergence at the level of firms, and investigates whether Korean firms tend to converge toward mature firms represented by the US firms in terms of their behavior and performance as well as firm-level innovations systems. [...] Read more.
This paper addresses the issue of catching and convergence at the level of firms, and investigates whether Korean firms tend to converge toward mature firms represented by the US firms in terms of their behavior and performance as well as firm-level innovations systems. It conducts regression analyses of several behavior and performance variables, using the data of the Korean and US firms during the 1990s, the 2000s, and 2010s. It finds some evidence of convergence, such that Korean firms become more profitability- rather than growth-oriented, borrowing and investing less, and thus being less indebted. However, they have not changed much in terms of their behavior toward firm values and dividend tendencies. Further analyses, using the patent-derived, innovation system variables, also confirm some aspects of convergence, compared with the early results, for which self-citations become significant and positive for firm values; furthermore, the variable of cycle time of technology is no longer significant for profitability, which is consistent with the results from the US firms. Meanwhile, changes in corporate governance associated with the rise of foreign shareholder are also shown to have resulted in higher profitability but insignificant change in firm values. An emerging conclusion is an ongoing but partially completed process of convergence. Full article
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16 pages, 298 KiB  
Article
Why Localization Is Necessary as a Business Strategy in Emerging Markets: The Case Comparison of Hyundai and Volkswagen
by Jungyoun Lee, Jungyeon Kim, Jiwoo Kim and Seungho Choi
J. Open Innov. Technol. Mark. Complex. 2021, 7(3), 190; https://doi.org/10.3390/joitmc7030190 - 18 Aug 2021
Cited by 1 | Viewed by 11789
Abstract
Localization, the process of establishing the most adequate system in the target market according to the given environment to produce the most viable product in the market, can help multinational enterprises (MNE) to better understand the market, and take the most appropriate actions [...] Read more.
Localization, the process of establishing the most adequate system in the target market according to the given environment to produce the most viable product in the market, can help multinational enterprises (MNE) to better understand the market, and take the most appropriate actions needed. Business strategies in emerging markets must account for the environment’s distinctive characteristics because emerging markets are characterized by underdeveloped institutions, also known as institutional voids. What would be the best strategy to respond to these voids? The primary focus of this article is to investigate how multinational businesses deal with the institutional voids of emerging markets such as the Indian automobile market, and how the different strategies affect the players’ performances. By comparing Hyundai Motors Company and Volkswagen Auto Group’s different strategical approaches, this research demonstrates that better creation of a local value chain and ecosystem leads to better performance in emerging markets. Survival within emerging markets requires thorough market analysis in an institutional context, and rapid response to environmental shifts resulting from institutional voids. Localization can help in both aspects. Full article
38 pages, 9003 KiB  
Review
Blockchain for Securing AI Applications and Open Innovations
by Rucha Shinde, Shruti Patil, Ketan Kotecha and Kirti Ruikar
J. Open Innov. Technol. Mark. Complex. 2021, 7(3), 189; https://doi.org/10.3390/joitmc7030189 - 14 Aug 2021
Cited by 26 | Viewed by 5960
Abstract
Nowadays, open innovations such as intelligent automation and digitalization are being adopted by every industry with the help of powerful technology such as Artificial Intelligence (AI). This evolution drives systematic running processes, involves less overhead of managerial activities and increased production rate. However, [...] Read more.
Nowadays, open innovations such as intelligent automation and digitalization are being adopted by every industry with the help of powerful technology such as Artificial Intelligence (AI). This evolution drives systematic running processes, involves less overhead of managerial activities and increased production rate. However, it also gave birth to different kinds of attacks and security issues at the data storage level and process level. The real-life implementation of such AI-enabled intelligent systems is currently plagued by the lack of security and trust levels in system predictions. Blockchain is a prevailing technology that can help to alleviate the security risks of AI applications. These two technologies are complementing each other as Blockchain can mitigate vulnerabilities in AI, and AI can improve the performance of Blockchain. Many studies are currently being conducted on the applicability of Blockchains for securing intelligent applications in various crucial domains such as healthcare, finance, energy, government, and defense. However, this domain lacks a systematic study that can offer an overarching view of research activities currently going on in applying Blockchains for securing AI-based systems and improving their robustness. This paper presents a bibliometric and literature analysis of how Blockchain provides a security blanket to AI-based systems. Two well-known research databases (Scopus and Web of Science) have been examined for this analytical study and review. The research uncovered that idea proposals in conferences and some articles published in journals make a major contribution. However, there is still a lot of research work to be done to implement real and stable Blockchain-based AI systems. Full article
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18 pages, 763 KiB  
Article
User Innovativeness and Fintech Adoption in Indonesia
by Budi Setiawan, Deni Pandu Nugraha, Atika Irawan, Robert Jeyakumar Nathan and Zeman Zoltan
J. Open Innov. Technol. Mark. Complex. 2021, 7(3), 188; https://doi.org/10.3390/joitmc7030188 - 12 Aug 2021
Cited by 56 | Viewed by 8845
Abstract
The integration of the financial industry and financial technology (Fintech) plays a pivotal role in increasing financial services reach and inclusion for the large unbanked population in Indonesia. Fintech adoption optimization expands the financial access to formal financial institutions, especially to vulnerable groups [...] Read more.
The integration of the financial industry and financial technology (Fintech) plays a pivotal role in increasing financial services reach and inclusion for the large unbanked population in Indonesia. Fintech adoption optimization expands the financial access to formal financial institutions, especially to vulnerable groups such as the unbanked population who predominantly reside in rural areas far from formal financial institutions. Fintech is viewed as a game changer to bring finance to the unreached communities via information technology and digital financial landscape. In this causal research, data collection was done via online questionnaires to 485 Fintech users between December 2020 and April 2021. Data analysis and path modelling was performed using smartPLS 3.0 software. Result shows user innovativeness as a significant predictor, directly and indirectly affecting the adoption of Fintech in Indonesia, while user attitude found the most important factor towards Fintech adoption. Financial literacy is the least important variable to predict Fintech adoption, contrary to popular belief. This indicates that Fintech usage requires less financial literacy and is potential to reach unbanked population and those with low financial literacy. To make Fintech more inclusive, the government needs to accelerate improving Information and Communications Technology (ICT) infrastructure such as widening mobile broadband penetration and soft infrastructure by encouraging Fintech startup, allowing regulatory sandbox for startups, and driving financial institutions to innovate through Fintech to bring financial services to unbanked population. Full article
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14 pages, 740 KiB  
Article
Standardization as a Catalyst for Open and Responsible Innovation
by Arta Pīlēna, Iveta Mežinska and Inga Lapiņa
J. Open Innov. Technol. Mark. Complex. 2021, 7(3), 187; https://doi.org/10.3390/joitmc7030187 - 12 Aug 2021
Cited by 8 | Viewed by 2906
Abstract
Standardization, based on scientific and technological development, provides solutions for optimal level of order in a wide range of industrial, societal and environmental fields. Analogically to the process of open innovation, the development of standards brings together the knowledge and experience of different [...] Read more.
Standardization, based on scientific and technological development, provides solutions for optimal level of order in a wide range of industrial, societal and environmental fields. Analogically to the process of open innovation, the development of standards brings together the knowledge and experience of different stakeholders, resulting in solutions that are relevant and accessible to the general public. Similarly, the concept of responsible innovation requires a variety of stakeholders to be involved in innovation development to ensure that their present and future needs are met. Although the link between standardization and innovation is a widely explored issue, the interaction of standardization with the increasingly relevant concepts—open innovation and responsible innovation—remains a research gap, therefore the aim of the study is to identify the common characteristics of standardization and open and responsible innovation, as well as to analyze the interaction between these concepts. The research is based on a literature review on the concepts of standardization, standards development and open, responsible innovation, as well as a field analysis on the ongoing activities in standardization in relation to innovation. The similarities and interaction between standards development and the creation of open, responsible innovation is analyzed and as a result a model that combines the characteristics of standardization, open and responsible innovation and their interrelation is provided. The findings of the study demonstrate that both the standardization process itself and its outcomes can be compared to the processes of open and responsible innovation and can also be characterized as a contributor for creating the environment for the achievement of sustainable development and fostering open and responsible innovation. Full article
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26 pages, 738 KiB  
Article
Decentralized Open Platform for Vaccination—A German Example: COVID-19-Vacc
by Mirjana Radonjic-Simic, Christian Mahrt, Sven Niemand, Andreas Speck and Melanie Windrich
J. Open Innov. Technol. Mark. Complex. 2021, 7(3), 186; https://doi.org/10.3390/joitmc7030186 - 11 Aug 2021
Cited by 2 | Viewed by 4132
Abstract
The COVID-19 pandemic has massively impacted the health of many people worldwide and poses significant challenges for our social, economic, and political life. Global vaccination should help the world overcome the pandemic and return to a “normal” life. In Germany, the Federal Ministry [...] Read more.
The COVID-19 pandemic has massively impacted the health of many people worldwide and poses significant challenges for our social, economic, and political life. Global vaccination should help the world overcome the pandemic and return to a “normal” life. In Germany, the Federal Ministry of Health presented its “National Vaccination Strategy COVID-19”, which describes the primary actors, elements, and activities required for the immunization of the German population. However, the implementation is challenging due to the federal organization of the German state in sixteen federal states. While essential processes such as vaccination rate monitoring and surveillance are planned centrally, the sixteen federal states are responsible for implementing the vaccination strategy in a decentralized manner. Furthermore, the European General Data Protection Regulation (EU-GDPR) imposes strict rules for processing and exchanging personal data. However, Germany is only a case in point. Governmental decisions always need to be implemented by regional and/or local actors, the number of which varies greatly depending on the country. This work addresses these challenges by proposing the COVID-19-Vacc Platform—an open and decentralized digital platform focused on vaccinations as a matter of example. The proposed platform model connects various actors and enables them to involve, conduct, and track the vaccination process while meeting all necessary data protection and security requirements defined by EU-GDPR. Using the DMS Reference Model as the theoretical framework, the blueprint of the COVID-19-Vacc Platform is developed, outlining the platform’s ecosystem structure, its interactions process model, and the service stack, defining how the proposed platform works on the operational level. Our COVID-19-Vacc Platform may help facilitate a fast and EU-GDPR compliant implementation of COVID-19 vaccination strategies. Beyond that, the proposed open and decentralized platform model might facilitate international interconnectivity and therefore the management of emerging global pandemics or other global health-related crisis. Full article
(This article belongs to the Special Issue Global Challenges of Digital Transformation of Markets (GDTM-2020))
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20 pages, 1775 KiB  
Article
The Role of Consumer and Customer Journeys in Customer Experience Driven and Open Innovation
by Gundars Kokins, Anita Straujuma and Inga Lapiņa
J. Open Innov. Technol. Mark. Complex. 2021, 7(3), 185; https://doi.org/10.3390/joitmc7030185 - 6 Aug 2021
Cited by 3 | Viewed by 7256
Abstract
Customer and Consumer Journeys, touchpoints and Consumer Goals have been widely discussed among Customer Experience theorists and practitioners, establishing that a hierarchical relationship between those exist. Customer Experience driven innovation evaluates opportunities mainly within touchpoints in Customer Journeys. However, there is still a [...] Read more.
Customer and Consumer Journeys, touchpoints and Consumer Goals have been widely discussed among Customer Experience theorists and practitioners, establishing that a hierarchical relationship between those exist. Customer Experience driven innovation evaluates opportunities mainly within touchpoints in Customer Journeys. However, there is still a gap in understanding how exactly those elements are interlinked and impact each other. This research article aims to create this understanding by answering three research questions: “To what extent, and how do Customer Journeys impact Consumer Journeys and vice versa?” and “Are touchpoints (including other actors) a sub-set of Consumer or Customer Journeys?” and “Where in the hierarchy should Customer Experience driven innovation opportunities be identified?”. Phenomenological interviews with participants of the Cambridge Venture Camp 2021, organized as part of the ERASMUS+ programme of the European Union within Strategic Partnerships for Higher Education were chosen for the research methodology. Grounded theory and open coding were used to interpret the collected data. In this article, we demonstrate how Consumer Journeys impact Customer Journeys, and that Customer Journeys do not impact other journeys directly, but rather by adjusting the higher-order goals of the Consumer through the response to the stimuli in the touchpoints. A theoretical model is proposed that highlights the interconnectivity of the different experience elements, and how to interpret Customer Experience driven innovation within the hierarchy. Full article
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16 pages, 321 KiB  
Article
Integration of Baltic Small and Medium-Sized Ports in Regional Innovation Strategies on Smart Specialisation (RIS3)
by Christopher Meyer
J. Open Innov. Technol. Mark. Complex. 2021, 7(3), 184; https://doi.org/10.3390/joitmc7030184 - 5 Aug 2021
Cited by 4 | Viewed by 1962
Abstract
Small and medium-sized ports in the Baltic Sea Region find themselves in a dilemma to participate in the governance of innovation policies such as Smart Specialisation. The Smart Specialisation policy introduced by the European Commission supports regional economic and innovation development focusing on [...] Read more.
Small and medium-sized ports in the Baltic Sea Region find themselves in a dilemma to participate in the governance of innovation policies such as Smart Specialisation. The Smart Specialisation policy introduced by the European Commission supports regional economic and innovation development focusing on regional strength through selection of defined priorities, offering smaller ports an opportunity to overcome their dilemma. Currently, all European regions are monitoring and evaluating their performances alongside with the Smart Specialisation policy to make adjustments for the upcoming funding period. The Blue Growth concept entitles a large contribution to reach the emphasised goals and thus, ports can be an important actor and key driver for a sustainable and green future development. Hence, this paper analyses the current significance of smaller ports in Baltic Sea NUTS-2 regions reflected in the individual RIS3 maritime and/or logistic priorities as well as Blue Growth sub-sectors from the funding period 2014–2020 to contribute to the future design of RIS3. Yielded results will illustrate whether regional governances are aware of the potential small ports bring up to their economies with consideration to Smart Specialisation, Green Deal and Blue Growth Strategies and how RIS3 might effects small port performances. Full article
18 pages, 5775 KiB  
Article
Combining Parcel Lockers with Staffed Collection and Delivery Points: An Optimization Case Study Using Real Parcel Delivery Data (London, UK)
by Maren Schnieder, Chris Hinde and Andrew West
J. Open Innov. Technol. Mark. Complex. 2021, 7(3), 183; https://doi.org/10.3390/joitmc7030183 - 4 Aug 2021
Cited by 8 | Viewed by 3830
Abstract
Delivering parcels to collection and delivery points (CDPs) is often seen as a better option compared with home delivery. However, if the demand is inhomogeneous, either the parcel locker utilization or the service level (i.e., the number of parcels that can be delivered) [...] Read more.
Delivering parcels to collection and delivery points (CDPs) is often seen as a better option compared with home delivery. However, if the demand is inhomogeneous, either the parcel locker utilization or the service level (i.e., the number of parcels that can be delivered) is low. Either situation would reduce the financial viability. This paper compares two options to increase the utilization, namely: (i) modular lockers (i.e., numbers of lockers adjusted periodically depending on demand) and (ii) combining parcel lockers with staffed CDPs. The latter has the advantage of a low investment cost of staffed CDPs and a low cost per parcel of parcel lockers. Secondly, the paper calculates the optimal number of lockers at a staffed CDP, assuming that all parcels are placed in the staffed CDP if the parcel locker is full. This method was applied to data collected by a parcel delivery company in London. The advantage of using real world data over one year is that it includes seasonal and daily changes in the parcel demand. The decision support method accounts for parcels not being picked up by customers on the delivery day, returned deliveries, and the net present value (NPV) of the investment. This paper shows that having enough lockers for 100% of all parcels compared with 80% doubles the number of required parcel lockers because of the inhomogeneity of the demand. In addition, combining fixed lockers with staffed CDPs offers greater financial benefits compared with modular lockers in this case study. Full article
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28 pages, 5394 KiB  
Article
Inclusively Recognizing Faculty Innovation and Entrepreneurship Impact within Promotion and Tenure Considerations
by Jana Bouwma-Gearhart, Cindy Lenhart, Rich Carter, Karl Mundorff, Holly Cho and Jessica Knoch
J. Open Innov. Technol. Mark. Complex. 2021, 7(3), 182; https://doi.org/10.3390/joitmc7030182 - 4 Aug 2021
Cited by 7 | Viewed by 4241
Abstract
Academic research has led to a plethora of innovations and entrepreneurial resources (I&E), allowing for enhancements to the greater good. Institutions of higher education have recognized the value of faculty (and student) I&E in mission statements and strategic plans, including developing students’ skills, [...] Read more.
Academic research has led to a plethora of innovations and entrepreneurial resources (I&E), allowing for enhancements to the greater good. Institutions of higher education have recognized the value of faculty (and student) I&E in mission statements and strategic plans, including developing students’ skills, thinking, and employability. Yet commensurate promotion and tenure processes and policies are not a certainty. We describe (1) mapping the unknown terrain of factors relevant to the evaluation of tenure-line faculty members’ I&E in United States promotion considerations, and related training for students via a survey of 99 diverse institutions, and (2) recommendations that inform an alliance of 67+ US institutions pursuing best practices for recognizing faculty I&E impact through reward structures. Full article
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13 pages, 443 KiB  
Article
Debt versus Equity—Open Innovation to Reduce Asymmetric Information
by Arief Yulianto, Rini Setyo Witiastuti and Widiyanto
J. Open Innov. Technol. Mark. Complex. 2021, 7(3), 181; https://doi.org/10.3390/joitmc7030181 - 2 Aug 2021
Cited by 7 | Viewed by 2675
Abstract
The research aims to examine the difference between absence and presence life cycle stage in technology information digitalization (TID) as a form of open innovation in reducing information asymmetry. Furthermore, companies with asymmetric information prefer debt over equity. The study collects 3.343 pooled [...] Read more.
The research aims to examine the difference between absence and presence life cycle stage in technology information digitalization (TID) as a form of open innovation in reducing information asymmetry. Furthermore, companies with asymmetric information prefer debt over equity. The study collects 3.343 pooled data observation units of companies listed in the Indonesian capital market period 2008 to 2019. We use OLS regression analysis to determine the difference between the absence and presence lifecycle stage in determining capital structure relations and exploiting growth opportunities. The study found information disclosure obligation of the capital market regulator has not been fully disclosed through TID. As a result, companies choose to pass in growth opportunities with debt or equity in the absence life cycle stage. Presence lifecycle stage, in the introduction stage, the company misses growth opportunities. Growth and mature stage, debt has a positive effect on the utilization of growth opportunities. The company prefers the issuance of debt with lower information sensitivity than equity. Presence culture, such as majority ownership, generates incentives for open innovation from capital market regulators, which still contain information asymmetry. Full article
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12 pages, 315 KiB  
Article
Open Innovation through Customer Satisfaction: A Logit Model to Explain Customer Recommendations in the Hotel Sector
by Mónica Méndez Díaz and Clara Martín Duque
J. Open Innov. Technol. Mark. Complex. 2021, 7(3), 180; https://doi.org/10.3390/joitmc7030180 - 1 Aug 2021
Cited by 15 | Viewed by 3811
Abstract
Open innovation allows the hotel industry to create platforms and channels for collaboration with its customers, which results in a better understanding of their tastes and demands. In the current environment, which is full of uncertainty, many companies have seen their profits decrease, [...] Read more.
Open innovation allows the hotel industry to create platforms and channels for collaboration with its customers, which results in a better understanding of their tastes and demands. In the current environment, which is full of uncertainty, many companies have seen their profits decrease, and even the permanence of their businesses endangered due to the COVID-19 pandemic. In such an environment, it is even more necessary to take into account the customer’s opinion about the service received, since once the customer makes use of the hotel’s services, he/she will recommend the hotel to third parties if he/she is satisfied with it. Through customer satisfaction and subsequent recommendations, the hotel thus obtains new clients and retains old ones. This feedback from the client allows for understanding their priorities in order to jointly design a tailor-made service. It is for this reason that this research has been carried out to analyze the service attributes evaluated by customers. In order to achieve the proposed objectives, a survey instrument was used, as well as a longitudinal study procedure applying logistic regression over a period of one year. The descriptive results and the logistic regression show the level of customer satisfaction with the service and the importance given to each of the selected attributes. In this way, the research shows in which areas innovation strategies should be sought. Although the research offers a model composed of five attributes to measure satisfaction through recommendation with a probability of more than fifty percent, it is necessary to take into account the limitations of the current environment due to COVID-19 or the possibility of extending the multidimensionality of the model. It is necessary to continue to work through open innovation platforms to keep contact with the customer and to update the examined attributes in order to obtain customer satisfaction and feedback. Full article
13 pages, 1501 KiB  
Article
Pre-Entrepreneurs’ Perception of the Technology Regime and Their Entrepreneurial Intentions in Korean Service Sectors
by Ilyong Ji and Jinkyung Goo
J. Open Innov. Technol. Mark. Complex. 2021, 7(3), 179; https://doi.org/10.3390/joitmc7030179 - 1 Aug 2021
Cited by 4 | Viewed by 2065
Abstract
Startups and established firms in service sectors mostly fall into the supplier dominated or information intensive categories of Pavitt’s taxonomy. Entrepreneurs in these categories are not isolated from the technological environment because they can also be innovative (at least) by adopting technologies from [...] Read more.
Startups and established firms in service sectors mostly fall into the supplier dominated or information intensive categories of Pavitt’s taxonomy. Entrepreneurs in these categories are not isolated from the technological environment because they can also be innovative (at least) by adopting technologies from outside. However, it has hardly been studied whether the entrepreneurial intention of pre-entrepreneurs in service sectors can be influenced by how they perceive technological environment. In this paper, using the theory of the planned behavior and technology regime, we examined the role of pre-entrepreneurs’ perception of the technology regime (opportunity, accessibility, and cumulativeness) on the formation of entrepreneurial intention in Korean service sectors. The results show that pre-entrepreneurs’ perception of the technology regime influences entrepreneurial intention via personal attitude and perceived behavioral control. Opportunity influenced personal attitude and subjective norm; accessibility influenced personal attitude, subjective norm, and perceived behavioral control; and cumulativeness influenced personal attitude and perceived behavioral control. Personal attitude and perceived behavioral control influenced entrepreneurial intention. Full article
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17 pages, 2005 KiB  
Article
A Roadmap to Critical Redesign Choices That Increase the Robustness of Business Process Redesign Initiatives
by George Tsakalidis and Kostas Vergidis
J. Open Innov. Technol. Mark. Complex. 2021, 7(3), 178; https://doi.org/10.3390/joitmc7030178 - 22 Jul 2021
Cited by 5 | Viewed by 3083
Abstract
The elaborate analysis of a business process (BP) typically informs its potential for business process redesign (BPR), but the latter is usually conducted in a non-systematic way. The purpose of this paper is the introduction of the Business Process Redesign Capacity Assessment (BP-RCA) [...] Read more.
The elaborate analysis of a business process (BP) typically informs its potential for business process redesign (BPR), but the latter is usually conducted in a non-systematic way. The purpose of this paper is the introduction of the Business Process Redesign Capacity Assessment (BP-RCA) framework that assesses the redesign capability of BP models, prior to their implementation. This study combines key redesign features introduced by domain experts, to a conceptual framework that takes into consideration an inclusive set of BPR components in three consecutive phases, towards facilitating organizations in the practice of redesign decision making. In this paper, an illustrative case study is used to present the initial phase (selection) of the framework. To assess the usability of the BP-RCA, the authors reviewed twelve established redesign initiatives from literature which proved to implicitly follow similar steps to the proposed framework. The findings indicate that the BP-RCA framework provides a systematic exploration of fundamental redesign aspects and can be used as a reliable measurement of the redesign capacity of candidate BP models. The framework also provides practitioners with the necessary methodology for increasing the BPR effectiveness, the robustness of the varying initiatives and the overall innovativeness of businesses. Full article
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18 pages, 711 KiB  
Article
Promoting Information-Resource Sharing within the Enterprise: A Perspective of Blockchain Consensus Perception
by Gang Li and Chih-Cheng Fang
J. Open Innov. Technol. Mark. Complex. 2021, 7(3), 177; https://doi.org/10.3390/joitmc7030177 - 22 Jul 2021
Cited by 2 | Viewed by 2488
Abstract
The prevalence of information technology (IT) and information systems (IS) provides opportunities for enterprises to sustain open innovation. However, information silos that appeared with IS use have made IS inconvenient and thus impeded enterprises’ open innovation. The present study, therefore, aims to resolve [...] Read more.
The prevalence of information technology (IT) and information systems (IS) provides opportunities for enterprises to sustain open innovation. However, information silos that appeared with IS use have made IS inconvenient and thus impeded enterprises’ open innovation. The present study, therefore, aims to resolve this issue by helping understand how to encourage information-resource sharing within the enterprise. We first proposed a new concept—consensus perception—based on the blockchain characteristics and advantages derived from prior studies, and then developed a conceptual model based on the consensus perception and principal–agent theory. Second, we used this conceptual model to investigate whether blockchain technology (BT) can be used to promote information-resource sharing. The results showed that information security concern, perceived rewards, and openness have direct influences on information-resource sharing intention and that trust has indirect effects. The findings provide useful theoretical and practical contributions to sustain enterprises’ open innovation by adopting BT to solve the information-resource sharing issues. Full article
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15 pages, 813 KiB  
Article
Entrepreneurial Leadership and Employees’ Proactive Behaviour: Fortifying Self Determination Theory
by Muhammad Bilal, Shafaq Chaudhry, Hina Amber, Muhammad Shahid, Shoaib Aslam and Khuram Shahzad
J. Open Innov. Technol. Mark. Complex. 2021, 7(3), 176; https://doi.org/10.3390/joitmc7030176 - 16 Jul 2021
Cited by 15 | Viewed by 4867
Abstract
The prevailing pandemic (COVID-19) has increased socioeconomic problems and caused psychological distress due to work uncertainty, specifically in emerging economies. Small and medium enterprises (SMEs) in emerging economies have been severely affected. Particularly, work uncertainty is becoming a hindrance towards proactive work behaviour [...] Read more.
The prevailing pandemic (COVID-19) has increased socioeconomic problems and caused psychological distress due to work uncertainty, specifically in emerging economies. Small and medium enterprises (SMEs) in emerging economies have been severely affected. Particularly, work uncertainty is becoming a hindrance towards proactive work behaviour (PWB) that can be improved by an effective entrepreneurial leadership role and proactive personality attribute. Based on fortifying self-determination theory, this research answered the question to what extent proactive personality moderates the relationship between work uncertainty and PWB and strengthens the relationship between entrepreneurial leadership and PWB. To empirically examine the study’s underlying theoretical framework, respondents were selected from SMEs working in Pakistan from the high-tech industry. Multisource data were accumulated from 420 workers and their leaders utilizing a two-wave, time-lagged research design. Conclusions revealed that entrepreneurial leadership first reduced individuals’ work uncertainty, which in turn, led to enhanced proactive work behaviour of employees. Furthermore, the results revealed that work uncertainty mediates the relationship between entrepreneurial leadership and proactive work behaviour. Moreover, proactive personality moderates the link concerning work uncertainty and proactive work behaviour, such that this association is significant only when proactive personality is low. Additionally, the moderated mediation analysis indicated that less proactive people, compared with their extraordinarily proactive colleagues, trusted entrepreneurial leadership to be more proactive in the workplace. These findings have important implications to induce PWB among employees. Full article
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16 pages, 2021 KiB  
Article
Dynamic Capability and Open-Source Strategy in the Age of Digital Transformation
by Nobuyuki Fukawa, Yanzhi Zhang and Sunil Erevelles
J. Open Innov. Technol. Mark. Complex. 2021, 7(3), 175; https://doi.org/10.3390/joitmc7030175 - 16 Jul 2021
Cited by 15 | Viewed by 3137
Abstract
Today, Industry 4.0 technologies, such as Big Data analytics and mobile technologies, are forcing firms to seek new ways to create and deliver customer value. We argue that the Android project, one of the most successful open-source digital platforms, reflects a new business [...] Read more.
Today, Industry 4.0 technologies, such as Big Data analytics and mobile technologies, are forcing firms to seek new ways to create and deliver customer value. We argue that the Android project, one of the most successful open-source digital platforms, reflects a new business model in the age of digital transformation. In the Android community, application developers create and sell applications for the Android operating system provided by the open-source firm (Google), and share the profit with Google. Such an open-source strategy forces the open-source firm to give up the profits from selling the operating system to customers. A firm generally chooses an open-source strategy to increase its user network size. Using the concept of creative intensity, or the speed of idea generation, we offer a new explanation regarding the benefits of an open-source strategy in the age of digital transformation. We investigate how to enhance creative intensity and profit on the open-source digital platform. Our model suggests that an open-source strategy effectively manages the diminishing value of ideas and, thus, facilitates the dynamic capability of an open-source firm. Full article
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