Dematerializálódás az értékteremtésben (Demate value creation)

Napjainkra az értékteremtés tényezőiben hangsúlyeltolódás ment végbe a korábban túlnyomó részben tárgyalt tárgyiasult elemekről a tudásalapú, kézzel megfoghatatlan, immateriális elemek felé. Az értékteremtés forrását alkotó erőforrások dematerializálódása, azaz az immateriális erőforrások szerepének növekedése már az 1990-es évek második felétől ismertté vált a nemzetközi szakirodalomban, azonban az érték és az értékteremtési folyamat immateriális elemeiről csak a XXI. században kezdődött vita. A szerző vizsgálatának középpontjában az értékteremtés koncepciója és az ebben fellelhető immateriális elemek állnak, kihangsúlyozva a dematerializálódást. _____ Nowadays we can realize a shift in the focus of value creation from the formerly well discussed tangible factors to the knowledge-intensive, immaterial, intangible factors. The dematerialization of resources, which is the phenomena of growing importance of intangible resources, is known from the second half of 1990’s in the literature, but the discussion from the intangible elements of value creation began only in the beginning of the 21st century. The concept of value creation and its intangible elements are in the focus of the paper as the emphasis of dematerialization.

What is the value of value-at-risk after all?: A conditional approach using quantile regressions

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Finance from the NOVA – School of Business and Economics

Determination of the critical activities of a public-private intermediary organization with the help of value chain analysis

Tämän diplomityön tavoitteena oli selvittää arvoketjuanalyysin avulla toiminnot, joilla voittoatavoittelemattoman, julkisen osakeyhtiön toimintaa voitaisiin kuvata. Tarkoituksena oli selvittää mainitut toiminnot yleisesti ja luoda malli kohdeyrityksen arvoketjusta ja sen toiminnoista. Tutkielma jakautuu teoreettiseen ja empiiriseen osaan. Ensimmäinen pohjautuu aikaisempaan tutkimukseen ja kirjallisuuteen sidosryhmistä, arvon muodostumisesta ja arvoketjuanalyysistä. Jälkimmäinen on laadullista tapaustutkimusta. Empiriassa mallinnettiin Lappeenranta Innovation Oy:nsisäisiä toimintoja ja sidosryhmien odotuksia. Empiirinen tutkimus perustui kohdeyrityksen omistajille ja henkilöstölle tehtyihin haastatteluihin sekä yrityksen toiminnan päivittäiseen seurantaan. Johtopäätöksenätodettiin, että julkisen, voittoa tavoittelemattoman yrityksen toiminnot on mahdollista kuvata arvoketjuanalyysin avulla. Alan ja yrityksen asettamat erityispiirteet toivat haasteita määrittelylle, mutta silti arvoketju antoi selkeän tavan kohdeyrityksen toimintojen mallintamiselle.

Value Sales Approach in Digital Printing

Digitaalinen tulostus osana informaatiologistiikan toimialaa elää murroskautta kovankilpailun ja palveluiden kehittymisen myötä. Moderni teknologia mahdollistaa uudenlaisia älykkäitä palveluita, jotka antavat lisäarvoa niin yritysasiakkaille kuin kuluttajillekin. Siten myös myyntiprosesseja kehitetään tukemaan arvon luontia. Tutkimuksen teoreettisessa osuudessa sovellettiin arvon luomiseen ja myymiseen liittyviä keskeisiä teorioita, sekä organisaation ostokäyttäytymisen ja suhdemarkkinoinnin asioita. Empiirinen tutkimus toteutettiin asiakas- ja asiantuntijahaastatteluiden sekä kansainvälisten koulutuspäivien avulla. Työn tavoitteena oli luoda teoreettisen ja empiirisen tutkimuksen tulosten pohjalta ohjeistus digitaalisen tulostuksen palveluiden arvomyyntiin. Lisäksi työssä käsiteltiin myyntiprosessiin liittyviä kysymyksiä alan ominaispiirteet huomioon ottaen.

The Value System of Consumer Board Packaging

Olemassa olevien teollisuuden rakenteiden ja arvoketjujen muutos on usein onnistuneiden liiketoimintainnovaatioiden takana. Yritysten tulisikin olla tietoisia rakenteista, jotka määrittelevät arvon jakaantumista niiden arvoketjuissa. Tämän työn tavoitteena oli tutkia ja arvioida kartongin pakkausketjujen rakenteita kartongintuottajalta aina kauppiaalle asti. Työn kuluessa yritysketjujen arviointia varten oli kehitettävä uudenlainen analysointityökalu. Työssä käsitellyt kartonkipakkausketjut olivat nestekartonkipakkaaminen, elintarvikepakkaaminen, lääkepakkaaminen sekä graafisten kartonkien ketju. Jokaista edellä mainituista ketjuista arvioitiin käyttämällä kehitettyä analysointityökalua. Työn merkittävin tulos on kehitetty työkalu, jolla pakkausketjuja sekä myös muita yritysketjuja on mahdollista analysoida. Kehitettyä työkalua käyttämällä oli mahdollista tehdä johtopäätöksiä vertikaalin integraation mahdollisuudesta sekä pakkausketjujen suotuisuudesta uusille bisnesmalleille. Sekä analysointityökalua että saatuja johtopäätöksiä voidaan käyttää hyväksi, kun kartongintuottaja suunnittelee tulevaisuuden toimenpiteitä.

Formal and informal mechanisms for knowledge protection and sharing

The most important knowledge in firms is mostly tacit and embedded in individuals within the organization. This background knowledge that firms possess is used for creation of new knowledge and innovations. As firms today greatly concentrate on their core competencies, they need external knowledge from various collaboration partners. Thus, collaborative relationship governance, as well as control (use of appropriability mechanisms) over background (the input from each firm in innovative activities) and foreground knowledge (the output of collaboration activities) is needed in order to successfully create and capture value from innovative activities without losing core knowledge and competitiveness. Even though research has concentrated on knowledge protection and knowledge sharing, studies that combine both of these views and examine the effects of sharing and protection on value creation and capture have been rather limited. Studies have mainly focused on the protection of the output of innovation while forgetting the protection of the input of innovation. On the other hand, as the research concentrating on the output of innovation tends to favor formal mechanisms, informal mechanisms have remained more unknown to researchers as well as managers. This research aims to combine the perspectives of knowledge sharing and knowledge protection and their relationship with value creation and value capture. The sharing and protection are viewed from two points of view: the use of appropriability mechanisms, as well as governance of the collaborative relationship. The study consists of two parts. The first part introduces the research topic and discusses the overall results. The second part comprises six complementary research publications. Both qualitative and quantitative research methods are used in the study. In terms of results, the findings enhance understanding of the combined use of formal and informal mechanisms for knowledge protection and sharing. Informal mechanisms appear to be emphasized in the protection of background knowledge, and thus are prerequisites for innovation, whereas formal mechanisms are relied on more for protecting the results of innovative activities. However, the simultaneous use of the formal and informal mechanisms that are relevant to the particular industry and innovation context is recommendedthroughout the collaborative innovation process. Further, the study adds to the current knowledge on HRM as an appropriability mechanism: on the firm level its uses include assessing and hedging against employee-related risks such as knowledge leaking and knowledge leaving. A further contribution is to the research on HRM protection and its interrelations with other appropriability mechanisms, its constituents, and its potential use in the area of knowledge protection.

Ecosystem architecture design: endogenous and exogenous structural properties

The aim of this dissertation is to bridge and synthesize the different streams of literature addressing ecosystem architecture through a multiple‐lens perspective. In addition, the structural properties of and processes to design and manage the architecture will be examined. With this approach, the oft‐neglected actor‐structure duality is addressed and both the position and structure, and action and process are under scrutiny. Further, the developed framework and empirical evidence offer valuable insights on how firms collectively create value and individually appropriate value. The dissertation is divided into two parts. The first part comprises a literature review, as well as the conclusions of the whole study, and the second part includes six research publications. The dissertation is based on three different reasoning logics: abduction, induction and deduction; related qualitative and quantitative methodologies are utilized in the empirical examination of the phenomenon in the information and communication technology industry. The results suggest firstly that there are endogenous and exogenous structural properties of the ecosystem architecture. Out of these, the former ones can be more easily influenced by a particular actor whereas the latter ones are taken more or less for granted. Secondly, the exogenous ecosystem design properties influence the value creation potential of the ecosystem whereas the endogenous ecosystem design properties influence the value appropriation potential of a particular actor in the ecosystem. Thirdly, the study suggests that there is a relationship between endogenous and exogenous structural properties in that the endogenous properties can be leveraged to create and reconfigure the exogenous properties whereas the exogenous properties prose opportunities and restrictions on the use of endogenous properties. In addition, the study suggests that there are different emergent and engineered processes to design and manage ecosystem architecture and to influence both the endogenous and exogenous structural properties of ecosystem architecture. This study makes three main contributions. First, on the conceptual level, it brings coherence and direction to the fast growing body of literature on novel inter‐organizational arrangements, such as ecosystems. It does this by bridging and synthetizing three different streams of literature, namely the boundary, design and orchestration conception. Secondly, it sets out a framework that enhances our understanding of the structural properties of ecosystem architecture; of the processes to design and manage ecosystem architecture; and of their influence on the value creation potential of the ecosystem and the value capture potential of a particular firm. Thirdly, it offers empirical evidence of the structural properties and processes.

Customer value assessment in business markets

Understanding how firms create, communicate, and deliver value to customers is a key factor when firms seek to differentiate in increasingly competitive and commoditized business markets. As product and price have become less important differentiators in many industries, suppliers are increasingly seeking ways to differentiate themselves based on delivered customer value. Therefore, to gain a holistic understanding on what their offerings are worth to the customer, suppliers need to conduct customer value assessment, which quantifies the impact of a supplier´s offering to customers’ costs and returns. However, from a managerial perspective, customer value assessment is the single most critical challenge for firms in business markets. Consequently, developing holistic frameworks for customer value assessment is seen as one of the most important research priorities for marketing research. The purpose of this study is to explore the process of customer value assessment in business markets. Business markets represent a context where an increasing number of industrial firms are transitioning from basic product offerings towards service-based and solution-oriented hybrid offerings, which emphasize value co-creation and realization in the long term, thus making it difficult to quantify their monetary value. This study employs exploratory and qualitative research design by applying inductive and discovery-oriented grounded theory and multiple case research methods. The empirical data comprise interviews with 61 managers from 12 industrial firms, including seven best practice firms in customer value assessment. The findings of this study show that customer value assessment is essentially a crossfunctional process, which involves several organizational functions. The process begins well before and continues long after the actual delivery, often until the end of a supplier´s offering’s life-cycle. Furthermore, the findings shed light on alternative strategies that firms in business markets can adopt to implement the customer value assessment process. Overall, the findings contribute to customer value research, the sales and organizational management literature, the service marketing and solutions business literature, and suggest several managerial implications on how firms in business markets can adopt a holistic approach to assess value created for customers.

Organising the business processes of a product servitised supply chain:a value perspective

This paper develops a structured method from the perspective of value to organise and optimise the business processes of a product servitised supply chain (PSSC). This method integrates the modelling tool of e3value with the associated value measurement, evaluation and analysis techniques. It enables visualisation, modelling and optimisation of the business processes of a PSSC. At the same time, the value co-creation and potential contribution to an organisation’s profitability can also be enhanced. The findings not only facilitate organisations that are attempting to adopt servitisation by helping avert any paradox, but also help a servitised organisation to identify the key business processes and clarify their influences to supply chain operations.

Public-Private Partnership Design for Inclusive Cocoa Global Value Chains in Ghana

Within 10 years, there could be a severe global shortage in the supply of cocoa, according to industry practitioners and other experts. Due to global population growth and the emergence of a growing global middle class, by 2025 the cocoa crop would need to increase by nearly 50 per cent to keep up with projected demand. A potential shortage of supply is a direct threat to the business model of lead firms – including cocoa grinders and processors, chocolate confectioners, and retail distributors. But these international firms – the ones that will suffer the most if there is a shortage of cocoa supply – are helping create the market failure that is stifling sustainability. Functioning as a two-tiered consolidated oligopoly with a combined market share of approximately 89%, these firms enjoy the largest portion of value capture in the cocoa-chocolate global value chain (GVC). The smallholder cocoa producers, conversely, are trapped in low value-add segments of the GVC. In fact, most smallholder farmers survive on less than $1.00 per day per capita, on average in many cocoa exporting countries. In Ghana - the second largest producer of cocoa in the world - the government has accomplished little to help these smallholders upgrade and make cocoa an attractive sector for the next generation to inherit. The result – both in Ghana and around the world – is a lack of sustainability of the supply of cocoa. Demand is already beginning to outstrip supply. As a result of these underlying circumstances, the United States Agency for International Development (USAID) has posed the following policy question: "Under what conditions could USAID, as a development agency, support and enhance potential public-private partnerships in order to improve the bargaining power (and financial wherewithal) of smallholder organizations and farmers in the context of the global value chain for cocoa in Ghana?"

Creating value, not wasting resources: sustainable innovation strategies

It is well-accepted in academic and public debate that society has overused natural resources. Business managers in consequence face a normative framework where products need to become more ‘sustainable’. The paper characterises the mechanisms and logic that make ‘[environmentally] sustainable innovation strategies’. Those mechanisms highlight multiple value creation and sustaining value beyond the original new product lifecycle. They yield as much utility as possible from the embedded natural resources. And they avoid creating waste. ‘Multiple value creation’ asks managers to revaluate the attrite product or to make customers change their use patterns. The paper then demonstrates how to extend the ‘old’ logic of innovation with a phase of revaluation: a phase promoting further use of the product and/or material. Our concept is empirically illustrated by two industry case examples. Namely, the copier industry and the emerging automotive lithium-ion batteries industry. We provide a patent analysis in order to demonstrate the assessment of extended life cycles, for the case of ‘recovery of raw materials from disposed products’.

Business model evolution and firm performance of entrepreneurial companies

This research explores the business model (BM) evolution process of entrepreneurial companies and investigates the relationship between BM evolution and firm performance. Recently, it has been increasingly recognised that the innovative design (and re-design) of BMs is crucial to the performance of entrepreneurial firms, as BM can be associated with superior value creation and competitive advantage. However, there has been limited theoretical and empirical evidence in relation to the micro-mechanisms behind the BM evolution process and the entrepreneurial outcomes of BM evolution. This research seeks to fill this gap by opening up the ‘black box’ of the BM evolution process, exploring the micro-patterns that facilitate the continuous shaping, changing, and renewing of BMs and examining how BM evolutions create and capture value in a dynamic manner. Drawing together the BM and strategic entrepreneurship literature, this research seeks to understand: (1) how and why companies introduce BM innovations and imitations; (2) how BM innovations and imitations interplay as patterns in the BM evolution process; and (3) how BM evolution patterns affect firm performances. This research adopts a longitudinal multiple case study design that focuses on the emerging phenomenon of BM evolution. Twelve entrepreneurial firms in the Chinese Online Group Buying (OGB) industry were selected for their continuous and intensive developments of BMs and their varying success rates in this highly competitive market. Two rounds of data collection were carried out between 2013 and 2014, which generates 31 interviews with founders/co-founders and in total 5,034 pages of data. Following a three-stage research framework, the data analysis begins by mapping the BM evolution process of the twelve companies and classifying the changes in the BMs into innovations and imitations. The second stage focuses down to the BM level, which addresses the BM evolution as a dynamic process by exploring how BM innovations and imitations unfold and interplay over time. The final stage focuses on the firm level, providing theoretical explanations as to the effects of BM evolution patterns on firm performance. This research provides new insights into the nature of BM evolution by elaborating on the missing link between BM dynamics and firm performance. The findings identify four patterns of BM evolution that have different effects on a firm’s short- and long-term performance. This research contributes to the BM literature by presenting what the BM evolution process actually looks like. Moreover, it takes a step towards the process theory of the interplay between BM innovations and imitations, which addresses the role of companies’ actions, and more importantly, reactions to the competitors. Insights are also given into how entrepreneurial companies achieve and sustain value creation and capture by successfully combining the BM evolution patterns. Finally, the findings on BM evolution contributes to the strategic entrepreneurship literature by increasing the understanding of how companies compete in a more dynamic and complex environment. It reveals that, the achievement of superior firm performance is more than a simple question of whether to innovate or imitate, but rather an integration of innovation and imitation strategies over time. This study concludes with a discussion of the findings and their implications for theory and practice.

Pillars and Elements to Develop an Open Business Model for Innovation Networks

Part 9: Innovation Networks

Capture fishery in northern Todos os Santos Bay, tropical southwestern Atlantic, Brazil

Information on marine and estuarine capture fishery activity in northern Todos os Santos Bay, northeastern Brazil, based on daily data collected between September 2003 and June 2005 is presented. Small-scale artisanal fishery in this area includes the use of traditional vessels both nonmotorized and motorized for locomotion, being carried out mainly by canoe or on foot, and involves many different kinds of gear, including gillnet, hook and line, seine nets, and traps. A total of 113 taxa were grouped into 77 resources, including 88 fish, 10 crustaceans, and 15 mollusks. Data on nominal catches of fish, crustaceans and mollusks are presented by month and location. A total of 345.2 tonnes of fishery resources were produced (285.4 tonnes of fish, 39.2 tonnes of fresh invertebrates, and 20.6 tonnes of processed invertebrates). Temporal variation in the fish catch was associated with the life cycle of the species or with the hydrographic conditions. The first-sale value of this catch amounted to around US$ 615,000.00, fishes representing 71.3% of it. A table of the average price of each fishery resource is presented. The results produced in this study may be considered a reference for future monitoring programs of fishery resources in the area.

Knowledge Society and Geography: A Theoretical Approach

The transition process between information and knowledge is faster and so the inputs that influence social and political practises. The dissemination of information is now determinant in terms of territorial competitiveness and both public and private sector take large benefits when the data-information- knowledge value chain repeats itself trough space and time. Mankind depends nowadays on the creation and diffusion of good and reliable information. Speed is also important and the greater the speed, the faster the opportunities for global markets. Information must be an input for knowledge and obviously for decision. So, the power of information is unquestionable. This paper focuses on concepts like information, knowledge and other, more geographical and tries to explain how territories change from real to virtual. Knowledge society appears on an evolutional context in which information dissemination is wider and technological potential overwrites traditional notions of Geography. To understand the mutations over the territories, the causes and the consequences emerges the Geography of the Knowledge Society, a new discipline inside Geography with a special concern about modern society and socio-economical developing models.