Strategy & Microeconomic Policy eJournal最新文献

{"title":"Application and Performance Impact of Stage–Gate Systems – the Role Services in the Firm's Business Focus","authors":"C. Schultz, Dietfried Globocnik, Alexander Kock, S. Salomo","doi":"10.1111/radm.12341","DOIUrl":"https://doi.org/10.1111/radm.12341","url":null,"abstract":"Although service innovation is important, knowledge of new product and service development, including the positive effect of stage‐and‐gate‐type systems, has been derived almost exclusively from studies in the manufacturing sector. In the present paper, we address two important questions: How do differences in the firm’s business focus, which describes whether a firm puts more emphasis on products or services in its business activities, influence the usage of such formal innovation processes? Is stage‐and‐gate‐type systems’ impact on innovation program performance contingent on the firm’s business focus? Unlike previous studies, we not only differentiate service and manufacturing by industry classification codes but also apply a continuous measure to take into account the blurring of boundaries between the manufacturing and service businesses. Based on a comprehensive discussion of service‐specific characteristics and their implications for innovation management and using a cross‐industry, multi‐informant sample of innovation programs from 272 firms with 1,985 informants, we find empirical support for firms with a stronger focus on the service business being less likely to use stage‐and‐gate‐type systems. Furthermore, the use of stage‐and‐gate‐type systems fosters innovation program performance, and this effect becomes stronger as the business focus shifts toward services. This result implies that service‐based firms can benefit from stage‐and‐gate‐type systems to a greater extent than product‐based firms. Our research also demonstrates the gap between the desired level of innovation process formalization and its current usage in practice, especially for firms with a dominating service business.","PeriodicalId":239750,"journal":{"name":"Strategy & Microeconomic Policy eJournal","volume":"202 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-09-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133551056","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Strategic Automation and Decision-Making Authority","authors":"M. Dogan, A. Jacquillat, Pinar Yildirim","doi":"10.2139/ssrn.3226222","DOIUrl":"https://doi.org/10.2139/ssrn.3226222","url":null,"abstract":"In this paper, we investigate how automation alters decision-making responsibilities of mid- and upper-level managers within organizations. We develop a theoretical model of a firm with three organizational layers and two divisions. The firm is managed by an executive (principal); divisions are led by mid-level managers; and production tasks are performed by workers, or alternatively, are automated. There are two frictions between the firm’s middle and upper management. First, there is information asymmetry: a manager holds information that is specific to his division and critical for the firm’s decision-making, but the principal does not have access to this information. Second, the objectives of the principal and the manager are only partially aligned: while the principal cares about maximizing the total firm profit, the manager cares about his division more than the other division. \u0000 \u0000In this environment, through an extensive-form game with embedded cheap talk, we show that the princi- pal automates tasks strategically to manage intra-firm frictions and protect divisions from negative produc- tivity shocks. With higher levels of automation, the principal becomes more likely to retain decision-making rights by choosing a “top-down” structure as opposed to a structure where she “delegates” decision-making authority to a manager. Therefore, automation increases centralization of decision-making power at the upper level of organizations. As a consequence, as firms automate tasks, mid-level managers become more focused on day-to-day operations and less involved in strategic decision-making on behalf of the firm.","PeriodicalId":239750,"journal":{"name":"Strategy & Microeconomic Policy eJournal","volume":"20 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-09-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121365386","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Comparative Analysis of Financial Production Sharing Contract (PSC) Cost Recovery With PSC Gross Split: Case Study in One of the Contractor SKK Migas","authors":"Budhi Refa Anjani, I. Baihaqi","doi":"10.20474/jabs-4.2.2","DOIUrl":"https://doi.org/10.20474/jabs-4.2.2","url":null,"abstract":"This research explores two schemes of oil and gas Production Sharing Contract (PSC). First, Cost Recovery (old scheme) that the investor earned a production cost refund. While the second scheme is Gross Split (new scheme), which is the production sharing system without cost of recovery. The Gross Split scheme was implemented by the Minister of Energy and Mineral Resources, Ignatius Jonan in early 2017 in response to the concerns of People's Representative Council (DPR) Commission VII that the Cost Recovery scheme was no longer profitable for the government. Thus, there should be a new one which is better, beneficial, yet attractive to investors to entrust Indonesian oil and gas business. The study was conducted at PT XYZ, the first PSC Company which implemented Gross Split scheme after its contract period under the Cost Recovery scheme ended in January 2017. The study focuses on two cases of offshore oil and gas development projects, X and Y, by using economic capital budgeting indicators, such as NPV, IRR, and Payback Period. In addition, oil and gas fiscal calculations are done equally with Net Contractor Take and Government Take, then analyzed the sensitivity of the variable that affects its economic project. The results showed that Gross Split scheme projects have better NPV and IRR values than the Cost Recovery scheme. As for Payback Period, both schemes had the same value. This means that the economic value of Gross Split scheme project is better. However, it turns out that the Government Take value is much smaller. While from the sensitivity analysis, the amount of production and price is very sensitive to both economic projects as well as the widespread on the Gross Split scheme. It can be concluded that the PSC Gross Split scheme will benefit the Contractor if it is accomplished with good planning of WP&B (Work Program & Budgeting), accurate calculation of oil and gas reserve, timely development of oil and gas facilities, along with the efficient use of production costs. For the government, although the income is smaller, on the other hand, it is no longer burdened with cost recovery of production which has been disrupting state's finance in the development of exploration and domestic oil and gas production.","PeriodicalId":239750,"journal":{"name":"Strategy & Microeconomic Policy eJournal","volume":"15 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-04-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126594931","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Digitalization and Regional Competitiveness (Presentation Slides)","authors":"Bence Zuti","doi":"10.2139/ssrn.3164113","DOIUrl":"https://doi.org/10.2139/ssrn.3164113","url":null,"abstract":"","PeriodicalId":239750,"journal":{"name":"Strategy & Microeconomic Policy eJournal","volume":"92 1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-04-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126124671","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Effectuation Under Risk and Uncertainty: A Simulation Model","authors":"C. Welter, Sungho Kim","doi":"10.5465/AMBPP.2017.10755ABSTRACT","DOIUrl":"https://doi.org/10.5465/AMBPP.2017.10755ABSTRACT","url":null,"abstract":"Effectuation was first proposed as an expert entrepreneur’s decision-making framework under uncertainty, but the condition of uncertainty has been questioned. Using an agent-based simulation model, this paper investigates the effectiveness of effectuation relative to causation in uncertain and risky contexts. The simulation overcomes some of the shortcomings of think aloud protocols typically used in effectuation research. The results suggest that effectuation outperforms causation in both risky and uncertain contexts up until the entrepreneur’s predictive ability nears omniscience. The implication is that effectuation should not be restricted to uncertain environments, but is an effective framework whenever predicting the future is challenging.","PeriodicalId":239750,"journal":{"name":"Strategy & Microeconomic Policy eJournal","volume":"455 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-11-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122068313","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Models with Graphical Representation for Innovation Management: A Literature Review","authors":"R. B. Bagno, M. Salerno, Débora Oliveira da Silva","doi":"10.1111/radm.12254","DOIUrl":"https://doi.org/10.1111/radm.12254","url":null,"abstract":"In the last decades, the management of innovation has achieved increasing importance in both academic and business environments. For the companies, an effective engagement in innovation efforts involves the adoption of management models to guide the definition of organizational processes to conduct innovation opportunities throughout the organization. In this context, graphical representations can strongly communicate the central propositions of each model, accelerating the diffusion and influence of such models in both academic and business environments. Based on an academic database search, and snowball procedure, models were selected considering the unique characteristics of their graphical representation. This article contributes to the knowledge in the field by proposing a typology of innovation management models, highlighting model's biases, gaps, strengths and weaknesses, and by identifying important tensions among models that spillover to the innovation management field in both research and practice. This article discusses conflicts regarding the limits of the innovation process (events that start and end the process and complementary approaches), the limits of focusing on processes, the differentiation of research and development and new product development activities. In the end, the article addresses emerging approaches related to radical innovation, design thinking and startups, and stresses contributions for research and practice.","PeriodicalId":239750,"journal":{"name":"Strategy & Microeconomic Policy eJournal","volume":"26 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116902017","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"When Do Structural Holes in Employees' Networks Improve Their Radical Creativity? A Moderated Mediation Model","authors":"Chaoying Tang, Guiyang Zhang, Stefanie E. Naumann","doi":"10.1111/radm.12286","DOIUrl":"https://doi.org/10.1111/radm.12286","url":null,"abstract":"Previous research has found a relationship between structural holes of knowledge networks, tie strength of knowledge networks, and creativity. Our study extends these findings by proposing that characteristics of R&D employees' team knowledge networks influence their acquired diversified knowledge from the team, which is critical to creativity. Our results based on 558 members of 92 R&D teams demonstrated that, in order to benefit from their broker position in acquiring diversified knowledge, R&D employees should maintain their tie strength toward the team members with whom they are connected.","PeriodicalId":239750,"journal":{"name":"Strategy & Microeconomic Policy eJournal","volume":"26 Suppl 1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126066140","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"A Resolution to the Multiple IRR Problem: A New Method (Modified Capital Amortization Schedule (MCAS) Method) That Eliminates Multiple IRR and Leads to a Real and Unique IRR","authors":"C. Kannapiran","doi":"10.2139/ssrn.3000729","DOIUrl":"https://doi.org/10.2139/ssrn.3000729","url":null,"abstract":"The problem of multiple IRR remained unresolved for almost a century. This problem is associated only with some of the non-normal net cash flow (NNCF) that wrongly includes reinvestment income as income or benefit stream. The reinvestment income, which is not a benefit from the investment or project under analysis, causes the multiple IRR problem. This is often misinterpreted as problem of IRR but its neither a problem with IRR nor NPV. It is a problem associated with some NNCF data and the failure to update the discounted cash flow (DCF) or capital amortization schedule (CAS) methods to handle such problem. \u0000Using NNCF data, analyses are conducted with special emphasis on topics such as: a. A modified CAS (MCAS) method that eliminates multiple IRR associated with NNCF data; b. Multiple IRR problem and the Descartes rule of sign and Norstrom’s criteria; c. A NNCF data with a unique IRR under DCF/CAS methods vs IRR by MCAS method; d. Resolving the problem of multiple IRR by MCAS Method Versus MIRR; and e. A critical review of the GIRR and AIRR Methods to Estimate NNCF. \u0000The salient findings of the present analysis are: a. The MCAS method, presented in this paper, identifies and eliminates the reinvestment income associated with NNCF investments (with positive opening balance in one or more years in the CAS) from the benefit stream; b. This new method overcomes the multiple IRR problem and leads to a unique and real IRR; The effectiveness of MCAS to handle the NNCF data is illustrated with numerical analysis; c. The assumption of reinvestment at IRR or at hurdle rate in NPV are false assertions in the cases of normal NCF and some of the NNCFs. However, such reinvestment is evident only with NNCFs with positive opening balance in one or more years under the CAS. d. The reinvestment income under the benefit stream causes multiple IRRs and multiple NPVs too. As NPV is a static point estimate (at hurdle rate) the multiple NPVs are not exposed. Without eliminating the reinvestment income, none of the criterions viz. NPV, IRR or MIRR, is useful as a decision criterion. Neither NPV or MIRR is a preferred criterion, under such circumstances, as recommended in some published works. e. The MCAS method is appropriate for both normal NCF and NNCF as illustrated in this paper. CAS or DCF method is appropriate only for normal NCF investments. f. Even when there is no multiple IRRs with some NNCFs under DCF/CAS method, the MCAS method estimated IRR or NPV, without reinvestment income, are different from that of the DCF/CAS estimated IRR and NPV. For a consistent estimate of IRR and NPV, the MCAS method is most appropriate both for NCF and NNCF investments. g. The generalized IRR (GIRR) and the Average IRR (AIRR) are also not appropriate estimates for NNCF and they are not NCF consistent as discussed in this paper. The problem of multiple IRR associated with the popular cases of NCF investments used in GIRR and AIRR, are also resolved now. \u0000In conclusion, the MCAS","PeriodicalId":239750,"journal":{"name":"Strategy & Microeconomic Policy eJournal","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-07-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124303019","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"University Business Models in Disequilibrium – Engaging Industry and End Users within University Technology Transfer Processes","authors":"M. McAdam, Kristel Miller, R. McAdam","doi":"10.1111/radm.12265","DOIUrl":"https://doi.org/10.1111/radm.12265","url":null,"abstract":"This article explores how greater engagement with industry and end users has influenced the University Technology Transfer Business Model. In order to achieve this, they adopted a qualitative methodology which draws upon case study evidence of two case universities located in a particular region. The findings, represented in a conceptual framework depict a hybrid University Technology Transfer Business Model which is in a state of permanent disequilibrium as a result of path dependency and organisational culture. This permanent disequilibrium was found to cause challenges in relation to scarce resource allocation and also impacted upon the willingness and ability of academics to engage with industry and end users throughout the technology transfer process. This article contributes to an emerging stream of research on hybrid business models by identifying the challenges of permanent disequilibrium where multiple and conflicting stakeholder goals compete for legitimacy and scarce resources. From a policy and practitioner viewpoint, this research draws attention to the complexities of university, government, industry and end user (Quadruple Helix stakeholders) engagement and the implications of such on university strategy where conflicting dominant logics can cause challenges with alignment of organisational processes and mechanisms.","PeriodicalId":239750,"journal":{"name":"Strategy & Microeconomic Policy eJournal","volume":"205 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115910059","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Strategies for Knowledge Use in R&D and Their Implications for Innovative Performance","authors":"T. Peeters, Xavier C. Martin","doi":"10.1111/radm.12144","DOIUrl":"https://doi.org/10.1111/radm.12144","url":null,"abstract":"We argue that research on R&D strategy and on the use of external knowledge in R&D in particular should differentiate between distinct uses of external knowledge. We distinguish between uses of external knowledge for replication (using knowledge as is) vs. for compounding (building on acquired knowledge by combining it together with internally developed knowledge). We theorize about the respective innovative performance implications of these two strategies and compare them with a self-reliant strategy of internal R&D. We also elaborate contingencies for each strategy, pertaining to firm capabilities and cooperation. We test our predictions using a large sample survey of Dutch innovators in multiple industries. Our findings indicate that compounding firms perform better than replicating firms when the share of sales that consists of innovations that are new to the market is assessed, but they do not outperform firms with an internal R&D strategy. Furthermore, these differences disappear when the share of sales consisting of less novel innovations is studied. This research demonstrates the importance of distinguishing between R&D strategies that replicate vs. compound external knowledge.","PeriodicalId":239750,"journal":{"name":"Strategy & Microeconomic Policy eJournal","volume":"108 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116137889","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}