Journal of Open Innovation: Technology, Market, and Complexity最新文献

{"title":"Failure mode effect analysis use and limitations in medical device risk management","authors":"Niamh Nolan,&nbsp;Olivia McDermott","doi":"10.1016/j.joitmc.2024.100439","DOIUrl":"10.1016/j.joitmc.2024.100439","url":null,"abstract":"<div><div>This study aims to investigate the application of risk analysis techniques in the medical device industry and the techniques most utilised to address compliance with ISO 14971:2019 with a view to assessing the challenges of risk management. Failure Mode Effect Analysis (FMEA) and its limitations as a tool are also investigated, as well as the risk management competencies that may contribute to effective risk management implementation. Qualitative interviews were conducted with risk management experts to gain insights into current risk management practices and challenges. The study found that FMEA is the most utilised risk analysis tool by the medical device industry but does not meet all risk analysis requirements per ISO14971:2019. FMEA focuses on device functionality and risk of failure and does not account for safety risks during normal device usage. It is the first focussed study on FMEA limitations in the medical device risk assessment process, and the study can be utilised to inform regulatory policy and industry best practices. Benchmarking the pros and cons of FMEA as a tool can strengthen Risk management thinking and deployment. This study is also novel in relation to the analysis of risk analysis requirements per ISO 14971, as well as looking at risk management competency gaps in Medtech in terms of risk analysis.</div></div>","PeriodicalId":16678,"journal":{"name":"Journal of Open Innovation: Technology, Market, and Complexity","volume":"11 1","pages":"Article 100439"},"PeriodicalIF":0.0,"publicationDate":"2024-11-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143138101","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Enhancing operation effectiveness by maximizing daily EBITDA as a turnaround strategy execution system to enhance operation performance and profitability","authors":"Rudy Setyopurnomo ,&nbsp;Sudarso K. Wiryono,&nbsp;Yuliani Dwi Lestari,&nbsp;Subiakto Sukarno","doi":"10.1016/j.joitmc.2024.100431","DOIUrl":"10.1016/j.joitmc.2024.100431","url":null,"abstract":"<div><div>Many companies struggle with strategy implementation due to the complex nature of execution. Some strategy execution systems depend on numerous indicators, making it challenging for managers to oversee effectively. Additionally, during times of financial difficulty, companies require a straightforward turnaround strategy execution system featuring clearly defined Key Performance Indicators (KPIs). This system should empower employees at all levels, fostering a shared sense of alignment and unity as the organization pursues common goals. The researchers aim to provide a simplified system for implementing turnaround strategies that ensures the company's profitability. To achieve this, they recommend utilizing daily Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) as the primary KPI, as it is entirely under operational control. Moreover, EBITDA can be integrated into business processes and remains solely within the purview of operations leaders and employees, thereby cultivating a sense of ownership and accountability. Once the company reaches a certain level of profitability, it can then incorporate additional KPIs. The researchers developed hypotheses based on deductive reasoning following a comprehensive literature review. They analyzed qualitative data from interviews and quantitative data from surveys. After implementing their program in a ferry company, they observed an approximate 33 % increase in revenue, a staggering 300 % surge in EBITDA, and an expansion of the EBITDA margin by over 250 %. The researchers validated their hypotheses through multiple case studies across ferry, shipbuilding, and aircraft manufacturing companies. This research contributes to the development of a straightforward turnaround strategy execution system by translating strategic programs and EBITDA targets into actionable plans for business processes daily. This approach assists leaders and employees in enhancing company culture and systems to achieve improved performance and profitability. The researchers focus on executing turnaround strategies effectively within company operations.</div></div>","PeriodicalId":16678,"journal":{"name":"Journal of Open Innovation: Technology, Market, and Complexity","volume":"11 1","pages":"Article 100431"},"PeriodicalIF":0.0,"publicationDate":"2024-11-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142747748","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Deep neural network model enhanced with data preparation for the directional predictability of multi-stock returns","authors":"Samak Boonpan,&nbsp;Weerachai Sarakorn","doi":"10.1016/j.joitmc.2024.100438","DOIUrl":"10.1016/j.joitmc.2024.100438","url":null,"abstract":"<div><div>This study presents novel deep neural networks (DNNs) that integrate a thorough data preparation process, including dollar bar sampling, trend scanning labeling, and piecewise aggregate approximation (PAA), to extract features for predicting the directional returns of leading technology stocks on the US stock exchange, such as Apple, Google, Microsoft, and Intel. Our DNN approach seeks to enhance the quality of input data for the models, thereby improving their predictive accuracy. The empirical analysis, conducted with high-frequency data from 2012 to 2022, reveals that DNN models—particularly the one employing dollar bars and trend scanning labeling (DB-TSC)—exhibit vital accuracy and generalizability in forecasting stock return directions. Our research emphasizes the importance of data preparation and fine-tuning model parameters for reliable predictions. This study presents valuable insights into applying deep neural networks (DNNs) for financial forecasting. It is an effective tool for investors and financial analysts aiming to navigate the complexities of the stock market.</div></div>","PeriodicalId":16678,"journal":{"name":"Journal of Open Innovation: Technology, Market, and Complexity","volume":"11 1","pages":"Article 100438"},"PeriodicalIF":0.0,"publicationDate":"2024-11-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143138525","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Understanding BRICSIZATION through an economic geopolitical model","authors":"Iman Bastanifar ,&nbsp;Kashif Hasan Khan ,&nbsp;Halil Koch","doi":"10.1016/j.joitmc.2024.100440","DOIUrl":"10.1016/j.joitmc.2024.100440","url":null,"abstract":"<div><div>This paper investigates a key objective of BRICS: the establishment of an alternative international currency as part of a broader de-dollarization strategy. This effort has gained urgency, primarily due to Russia’s need to bypass Western sanctions and China’s advancement of the Belt and Road Initiative (BRI). By applying the Morris Method, the study introduces the BRICSIZATION index—a quantitative panel index measuring the level of independence from the dollar among BRICS members from 2003 to 2022. In the analysis, inflation rates and the Geopolitical Risk Index (GPR) of BRICS founding members are used as independent variables within a Panel Random Effect OLS and GLS model. The findings reveal that the average BRICSIZATION index is over 72 % out of 100 %, indicating a significant degree of progress toward de-dollarization. Within the BRICS framework, the currencies of Brazil, China, and South Africa are strong candidates for a new currency basket, achieving an average index of 93 %. Meanwhile, the currencies of India and Russia, with an average index of 37 %, are identified as weaker contributors to the basket. The study also highlights that economic instability—whether from inflation or heightened geopolitical tensions (as indicated by a rising GPR)—tends to reduce the BRICSIZATION index. This suggests that macroeconomic policies like inflation targeting, along with strengthened international relations among countries aiming for reduced dollar dependence, are essential to achieving de-dollarization. This analysis underscores the potential and challenges of creating a new currency bloc independent of the dollar, reflecting both the strategic interests and vulnerabilities within BRICS.</div></div>","PeriodicalId":16678,"journal":{"name":"Journal of Open Innovation: Technology, Market, and Complexity","volume":"11 1","pages":"Article 100440"},"PeriodicalIF":0.0,"publicationDate":"2024-11-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142756865","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Unlocking creativity in tech: How resonant leadership fuels creative performance through knowledge sharing in Indian IT firms","authors":"Jeevan John Varghese,&nbsp;M.K. Rao","doi":"10.1016/j.joitmc.2024.100432","DOIUrl":"10.1016/j.joitmc.2024.100432","url":null,"abstract":"<div><div>This paper presents a model examining how resonant leadership (RL) influences creative performance (CP) in the rapidly evolving Indian IT sector. It specifically investigates how tacit knowledge sharing (TKS)—the informal, experience-based knowledge sharing and explicit knowledge sharing (EKS) mediate this relationship, alongside the role of knowledge reciprocity (KR) in linking RL with both types of knowledge sharing. A cross-sectional study was conducted involving 387 middle-level managers from various Indian IT firms using an online questionnaire, with data analyzed via the Partial Least Squares (PLS) method. The findings reveal significant positive influences of RL on TKS, EKS, KR, and CP. Additionally, TKS was found to partially mediate the relationship between RL and CP, while KR partially mediated the relationship between RL and both forms of knowledge sharing. These results provide actionable insights for executives and practitioners, emphasizing the implementation of resonant leadership and reciprocal knowledge sharing strategies to enhance creativity and performance in the Indian IT sector. This study contributes to existing literature by delineating the impacts of RL on KR, TKS, EKS, and CP, and explores multiple mediating relationships among these variables within the framework of social exchange theory.</div></div>","PeriodicalId":16678,"journal":{"name":"Journal of Open Innovation: Technology, Market, and Complexity","volume":"10 4","pages":"Article 100432"},"PeriodicalIF":0.0,"publicationDate":"2024-11-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142721419","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Tailoring success: How individualised learning and increased awareness can combat dropout in skill development programs","authors":"Kala V. Krishnan ,&nbsp;Murale Venugopalan ,&nbsp;Padma Rao Sahib","doi":"10.1016/j.joitmc.2024.100430","DOIUrl":"10.1016/j.joitmc.2024.100430","url":null,"abstract":"<div><div>The study aims to identify the factors associated with dropping out from government-supported skill certification programs, as perceived by the dropouts, their trainers, and their family members. This research contributes to the general topic of analysing the antecedents of dropouts from educational programs. To pursue our objective, a qualitative study involving a total of 17 in-depth interviews with trainees who discontinued participation in the skill certification program, their family members, and trainers was conducted. The study related educational dropout to a number of factors at the micro, meso, macro, and exosystem levels. Though there was general agreement among the trainees, trainers, and their family members regarding issues related to attendance and scheduling and government policy, opinions varied regarding the influence of other factors. The study discovered that by addressing the lack of awareness and providing courses that are more customized to individual needs and abilities, skill certification programs can reduce dropout. This research contributes to open social innovation by integrating diverse perspectives to develop actionable solutions for skill certification programs and promotes community-centered, accessible educational frameworks for sustainable social impact.</div></div>","PeriodicalId":16678,"journal":{"name":"Journal of Open Innovation: Technology, Market, and Complexity","volume":"10 4","pages":"Article 100430"},"PeriodicalIF":0.0,"publicationDate":"2024-11-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142698062","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Stabilizing the national banking system through digital financial inclusion, creative innovations, and green finance in low-financially developed economies","authors":"Giang Thi Huong Vuong ,&nbsp;Walid Barky ,&nbsp;Manh Huu Nguyen","doi":"10.1016/j.joitmc.2024.100434","DOIUrl":"10.1016/j.joitmc.2024.100434","url":null,"abstract":"<div><div>This paper investigates the effect of digital financial inclusion, creative innovations, and green finance on the stability of the national banking system in twenty-nine low-financially developed economies spanning the period 2011–2021. We demonstrate that digital financial inclusion promotion reduces banking system stability in low-financially developed economies. Additionally, creative innovations mitigate the adverse impact of digital financial inclusion on banking stability in low-financially developed economies. These findings are consistent using diverse econometric techniques. In highly developed economies, digital financial inclusion enhances national banking stability. Furthermore, green finance amplifies the positive relationship between digital financial inclusion and banking stability in high-financially developed economies. Our work sheds light on the crucial roles of digital financial inclusion, creative innovations, and green finance in the stability of national banking systems in low-financially developed economies and provides interesting comparison findings. Furthermore, this study offers recommendations for related governments and policymakers in low-financially developed economies to prioritize creative innovation to promote digital financial inclusion and stabilize the national banking system. For high-financially developed economies, encouraging green finance implementation is crucial and contributes to the banking system's stability.</div></div>","PeriodicalId":16678,"journal":{"name":"Journal of Open Innovation: Technology, Market, and Complexity","volume":"11 1","pages":"Article 100434"},"PeriodicalIF":0.0,"publicationDate":"2024-11-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142747929","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The influence of knowledge management, green transformational leadership, green organizational culture on green innovation and sustainable performance: The case of Vietnam","authors":"Hien Thi Ngoc Huynh ,&nbsp;Ngan Thi Thanh Nguyen ,&nbsp;Nhi Ngoc Y Vo","doi":"10.1016/j.joitmc.2024.100436","DOIUrl":"10.1016/j.joitmc.2024.100436","url":null,"abstract":"<div><div>The study investigates the impact of knowledge management, green organizational culture, green transformational leadership on green innovation and sustainable performance of organization in Vietnam, which is under-researched. Data were collected from managerial positions using purposive sampling techniques, encompassing a total of 200 organizations, and analyzed through Partial Least Square-Structural Equation Modeling (PLS-SEM). The results confirm that knowledge management, green transformational leadership and green organizational culture are significant drivers of green innovation. Additionally, both green transformational leadership and green innovation positively influence sustainable performance. The study extends the Resource Based View theory by identifying factors that enhance green innovation and sustainable performance in organization. This study offers valuable insights and implications for policymakers, leaders and academics on integrating knowledge management, green organizational culture, green transformational leadership, and green innovation to achieve sustainable performance in developing countries like Vietnam.</div></div>","PeriodicalId":16678,"journal":{"name":"Journal of Open Innovation: Technology, Market, and Complexity","volume":"10 4","pages":"Article 100436"},"PeriodicalIF":0.0,"publicationDate":"2024-11-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142698065","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Enhancing waste management in batang regency: Integrating circular economy principles with life cycle assessment and material flow analysis","authors":"Syafrudin ,&nbsp;Mochamad Arief Budihardjo ,&nbsp;Indah Fajarini Sri Wahyuningrum ,&nbsp;Amin Chegenizadeh ,&nbsp;Annisa Sila Puspita ,&nbsp;Syahrul Al Qadar","doi":"10.1016/j.joitmc.2024.100437","DOIUrl":"10.1016/j.joitmc.2024.100437","url":null,"abstract":"<div><div>Batang Regency encountered persistent waste management challenges, requiring effective mitigation strategies. This study evaluated residential waste management utilizing life cycle assessment (LCA) and material flow analysis (MFA) to propose sustainable plans. Three scenarios were compared: the current conditions (Scenario 1) had the highest environmental impact. In contrast, Scenarios 2 and 3, which included sorting and recycling processes, demonstrated improved energy and product recovery, making them more sustainable. The results indicated that Scenario 1 had a global warming potential (GWP) of up to 1.65E+04 CO₂ eq/t MSW, Scenario 2 had up to 2.88E+03 CO₂ eq/t MSW, and Scenario 3 had up to 3.08E+03 03 CO₂ eq/t MSW. Scenario 2 exhibited a lower GWP than Scenario 1, while Scenario 3, although higher in GWP, was recommended for excluding landfills. These findings highlighted the potential for waste sorting improvements and adjustments to classified waste treatment with environmental regulations, supporting sustainability in Batang Regency's waste management.</div></div>","PeriodicalId":16678,"journal":{"name":"Journal of Open Innovation: Technology, Market, and Complexity","volume":"10 4","pages":"Article 100437"},"PeriodicalIF":0.0,"publicationDate":"2024-11-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142698064","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Environmentally sustainable color fading approaches of denim fabric using alternative garments dry process: An insight into chromatic parameters and physical properties","authors":"Md. Tareque Rahaman,&nbsp;Abdullah Al Rakib Shikder,&nbsp;Md. Abdullah Al Mamun","doi":"10.1016/j.joitmc.2024.100435","DOIUrl":"10.1016/j.joitmc.2024.100435","url":null,"abstract":"<div><div>Denim has been elevated to the status of \"classic\" in the modern fashion cycle by numerous advancements and development efforts over the past few decades. Consumers today are interested in clothing comfort, environmental sustainability, and aesthetic appeals in addition to newborn designs and novel looks. Previous research works had only focused on evaluating the physical properties of denim samples after applying existing hazardous dry processes (whiskering, sandblasting, and PP {Potassium permanganate} spray), but those don’t portray scientific assessment regarding environmental impact assessment, chromatic values and vintage effects of denim. This research work explores sustainable alternative dry garment processes using sodium hydroxide and heat treatment with a view to achieving highly fashionable worn-out effects on sulfur-dyed denim, focusing on color fading. Process variables such as different sodium hydroxide concentrations (5 g/L, 10 g/L, 15 g/L, and 20 g/L) and heat treatment by stenter machine operating temperatures (140°C, 160°C, 180°C, and 200 °C) are used to conducting the research. Addressing a research gap, it evaluates Environmental Impact Measurement scores using EIM Software and chromatic parameters using Datacolor Spectrophotometer. Other examining factors such as color fastness (CF), and physical characteristics such as tensile and tear strength, shrinkage%, air permeability, and contact angle are evaluated. The alternative methods of dry process using are environmentally sustainable with scores of 7 and 1 (EIM software’s scoring system implies 0–33 for low impact, 34–66 for medium impact, and &gt;66 for high impact) respectively. Evaluations indicate decreasing patterns in color strength and chromaticity with higher sodium hydroxide concentration like 20 g/L and heat treatment, leading to a light black or grayish hue at 200°C. Conversely, lower concentrations (5 g/L, 10 g/L) and temperatures (140°C and 160°C) show increased a* (red-green), b* (yellow-blue) values, and r% (reflectance %). Fabrics treated with lower sodium hydroxide concentrations and temperatures exhibit weaker resistance to color change and staining. The study provides a comprehensive assessment using metrics like EIM score, color strength, chromaticity, hue angle, CIELAB color space, reflectance%, and color fastness tests, including rubbing, washing, and light fastness.</div></div>","PeriodicalId":16678,"journal":{"name":"Journal of Open Innovation: Technology, Market, and Complexity","volume":"10 4","pages":"Article 100435"},"PeriodicalIF":0.0,"publicationDate":"2024-11-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142698058","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}