Journal of Business Strategy最新文献

{"title":"Barbarians inside the gates: how private equity firms create value","authors":"P. M. Krysta, Janina Jauch-Degenkolb, D. Kanbach","doi":"10.1108/jbs-04-2022-0064","DOIUrl":"https://doi.org/10.1108/jbs-04-2022-0064","url":null,"abstract":"Purpose\u0000Facing increased asset prices and growing competition, private equity firms needed to innovate their established business model and shift from focusing on financial engineering to creating operating value. Yet, the authors understand little about how private equity firms increase the value of companies in their portfolios. This paper aims to shed light on organizational strategies, activities and governance principles that private equity firms use to create value.\u0000\u0000\u0000Design/methodology/approach\u0000This investigation combines several qualitative research approaches. Using in-depth interviews with executives in 35 private equity firms, the authors define industry-specific design principles for value creation using a Gioia methodology. They then use the Eisenhardt methodology to make in-depth case comparisons among sample firms.\u0000\u0000\u0000Findings\u0000Private equity firms employ one of four strategies – labeled “Infiltrator,” “Consultant,” “Organizer” or “Investor” – to create value in portfolio companies, each with a different organizational structure, level of cooperation between investor and portfolio firm and specific configuration of design elements.\u0000\u0000\u0000Originality/value\u0000To the best of the authors’ knowledge, this study is the first to focus on private equity value creation strategies from an organizational perspective. To their knowledge, no other publication has tapped this deeply into the interface between the private equity firm and the portfolio company to define the exact approach taken by the firm. This study contributes to the emerging discussion around the nonfinancial inputs to value creation. In addition, this qualitative research design is underrepresented in private equity research.","PeriodicalId":55881,"journal":{"name":"Journal of Business Strategy","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-11-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47938323","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":"Coming out ahead while losing a partner: the Thoroughbred industry stays on course","authors":"Darcy K. Fudge Kamal, Cristina Nistor, Charu Sinha","doi":"10.1108/jbs-04-2022-0069","DOIUrl":"https://doi.org/10.1108/jbs-04-2022-0069","url":null,"abstract":"\u0000Purpose\u0000In many industries, firms collaborate as business partners, which helps them achieve superior outcomes and ensure survival in a crisis. Business relationships help companies access limited resources, share information and build trust within the community. This paper aims to highlight the strategies that firms can use to adapt to the loss of a business partner.\u0000\u0000\u0000Design/methodology/approach\u0000This study considers qualitative examples from what happens when a business partner disappears in the Thoroughbred horse industry. The authors draw attention to several types of partner loss due to firm bankruptcy, owner death and strategic restructuring.\u0000\u0000\u0000Findings\u0000This paper proposes a framework of strategies for surviving the loss of business partners. Specifically, surviving partners may respond by strategic distancing, relationship self-repair or reconfiguration through asset purchases or mimicry by minimizing exit risks.\u0000\u0000\u0000Practical implications\u0000The proposed framework can be used by strategists and managers to determine a course of action when faced with the loss of a business partner. Managers can quickly respond to a partner’s exit with the appropriate action to distance their business or stabilize alternate relationships.\u0000\u0000\u0000Originality/value\u0000The novel framework, informed by examples from the Thoroughbred horse industry, conceptualizes an important theoretical and practical problem. This paper proposes strategies for how businesses react and adapt to survive after losing a business partner.\u0000","PeriodicalId":55881,"journal":{"name":"Journal of Business Strategy","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-10-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48529640","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":"Crisis response: design thinking can smooth disruptions","authors":"Ashten R. Duncan, Kevin Lehnert, Hollie Blagg","doi":"10.1108/jbs-04-2022-0063","DOIUrl":"https://doi.org/10.1108/jbs-04-2022-0063","url":null,"abstract":"\u0000Purpose\u0000Small business capabilities and customer interactions are particularly susceptible to market disruptions. Small businesses must pivot quickly to build or grow their capabilities and manage diverse strategies to deal with crises. This ability to quickly adapt and formulate strategies is necessary to help small businesses maintain sales and continue to engage with their clients, especially in light of disruption and crises. This work uses design thinking strategies to provide insight into how businesses can navigate such disruptions.\u0000\u0000\u0000Design/methodology/approach\u0000This research investigates how design thinking can help small businesses address crises. The focus is on leveraging design thinking strategies such as empathizing, defining, ideating, prototyping and testing (EDIPT), divergence/convergence and customer journey mapping design thinking tools.\u0000\u0000\u0000Findings\u0000The authors provide propositions and strategies to help firms adapt their strategies to the demands of clients during crises.\u0000\u0000\u0000Originality/value\u0000This piece provides an accessible introduction to three design thinking strategies (general EDIPT model, convergence/divergence and consumer journey mapping). The authors present this in the context of disruption, especially the recent pandemic, specifically focusing on small businesses.\u0000","PeriodicalId":55881,"journal":{"name":"Journal of Business Strategy","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-10-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43310498","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":"Experimentation capability for a circular economy: a practical guide","authors":"N. Bocken, Jan Konietzko","doi":"10.1108/jbs-02-2022-0039","DOIUrl":"https://doi.org/10.1108/jbs-02-2022-0039","url":null,"abstract":"\u0000Purpose\u0000To meet their ambitious targets for a circular economy, multinationals need to speed up their innovation efforts. This requires experimentation capability. But it is not clear what this capability entails, and how companies can build it. The purpose of this paper is to give companies guidance on how they might develop experimentation capability for the circular economy.\u0000\u0000\u0000Design/methodology/approach\u0000We conduct in-depth interviews with innovators in frontrunner multinationals, H&M, IKEA and Philips. We use the Gioia method to analyse our data.\u0000\u0000\u0000Findings\u0000This article identifies novel institutional, strategic, and operational actions that build experimentation capability for a circular economy.\u0000\u0000\u0000Practical implications\u0000The identified actions help innovation managers experiment and speed up their innovation efforts for a circular economy.\u0000\u0000\u0000Social implications\u0000To reverse environmental degradation, multinationals need to transform their dominant linear take-make-waste business models. This research provides actions that help them organize this transformation.\u0000\u0000\u0000Originality/value\u0000This article is based on extensive research with leading multinationals and reveals novel insights on how to innovate for a circular economy.\u0000","PeriodicalId":55881,"journal":{"name":"Journal of Business Strategy","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-10-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42757799","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":"Customer obsession – the springboard for a value creation strategy","authors":"Art T Weinstein","doi":"10.1108/jbs-06-2022-0112","DOIUrl":"https://doi.org/10.1108/jbs-06-2022-0112","url":null,"abstract":"\u0000Purpose\u0000Customer-obsessed organizations put customers first, create exceptional value and enhance business performance. This paper aims to offer a framework for implementing the customer obsession construct.\u0000\u0000\u0000Design/methodology/approach\u0000Using relevant customer value literature, syndicated research and a qualitative analysis, customer obsession insights are offered.\u0000\u0000\u0000Findings\u0000Customer-obsessed companies know their customers’ needs and engage with them to offer the best solutions. Four customer-centric stages are evaluated, and applications of customer obsession in the Now Economy are discussed.\u0000\u0000\u0000Research limitations/implications\u0000This analysis of customer obsession is largely conceptual and presents a case study in one metropolitan statistical area. Although the findings are insightful, it may not be representative of the US or global health-care market.\u0000\u0000\u0000Practical implications\u0000Strategic implications relate to a bias for action, types of business obsessions, values alignment and benchmarking. This paper features an in-depth case study on Baptist Health South Florida which assesses customer obsession using a customer value framework.\u0000\u0000\u0000Originality/value\u0000Customer obsession is a strategic mindset built upon strong leadership, a sound business culture and superior value. While critical to business success, there has been limited scholarly work in this area. This paper fills that gap by providing a managerial approach for understanding this key business priority.\u0000","PeriodicalId":55881,"journal":{"name":"Journal of Business Strategy","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-10-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42122267","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 practical guide for practitioners seeking to create value with big data","authors":"Pierre Dal Zotto","doi":"10.1108/jbs-02-2022-0027","DOIUrl":"https://doi.org/10.1108/jbs-02-2022-0027","url":null,"abstract":"\u0000Purpose\u0000Practitioners, despite competing in a difficult environment, struggle to understand or implement researchers’ findings that may support the development of sustainable competitive advantage. Following design science research using a gamification framework, the purpose of this study is to develop Game of Streams, a boundary object fostering practitioners’ capabilities to generate IT-dependent strategic initiatives. The Game of Streams method is available following a creative commons license and has two benefits for practitioners. First, it allows practitioners to ideate IT-dependent strategic initiatives with big data fitting their context. Second, it supports the understanding of a taxonomy originating in academic research about big data, precisely Digital Data Streams.\u0000\u0000\u0000Design/methodology/approach\u0000Through design science research methodology, the author investigates the research/practice gap. This study created with and for firms Game of Streams, a boundary object using gamification. The author tested this boundary object with different organizations from small- and medium-sized enterprises to multinationals and proved its effectiveness in generating IT-dependent strategic initiatives.\u0000\u0000\u0000Findings\u0000Game of Streams is enhancing practitioners’ use of research conclusions from academic literature. This study demonstrates that academic literature can impact practice better than before using boundary objects and gamification.\u0000\u0000\u0000Originality/value\u0000The gamification of research to bridge the research/practice gap is an emerging subject in the literature. This study offers an approach that allows practitioners to actively participate while manipulating research concepts in their context to generate IT-dependent strategic initiatives.\u0000","PeriodicalId":55881,"journal":{"name":"Journal of Business Strategy","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48216335","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":"Keeping a lower profile: how firms can reduce their digital carbon footprints","authors":"Thomas Jackson, Ian R. Hodgkinson","doi":"10.1108/jbs-03-2022-0048","DOIUrl":"https://doi.org/10.1108/jbs-03-2022-0048","url":null,"abstract":"\u0000Purpose\u0000In the pursuit of net-zero, the decarbonization activities of organizations are a critical feature of any sustainability strategy. However, government policy and recent technological innovations do not address the digital carbon footprint of organizations. The paper aims to present the concept of single-use dark data and how knowledge reuse by organizations is a means to digital decarbonization.\u0000\u0000\u0000Design/methodology/approach\u0000Businesses in all sectors must contribute to reducing digital carbon emissions globally, and to the best of the authors’ knowledge, this paper is the first to examine “how” from a knowledge (re)use perspective. Drawing on insights from the knowledge creation process, the paper presents a set of pathways to greater knowledge reuse for the reduction of organizations’ digital carbon footprint.\u0000\u0000\u0000Findings\u0000Businesses continually collect, process and store knowledge but generally fail to reuse these knowledge assets – referred to as dark data. Consequently, this dark data has a huge impact on energy use and global emissions. This model is the first to show explicit pathways that businesses can follow to sustainable knowledge practices.\u0000\u0000\u0000Practical implications\u0000If businesses are to be proactive in their collective pursuit of net-zero, then it becomes paramount that reducing the digital carbon footprint becomes a key sustainability target. The paper presents how this might be accomplished, offering practical and actionable guidance to businesses for digital decarbonization.\u0000\u0000\u0000Originality/value\u0000Two critical questions are facing businesses: how can decarbonization be achieved? And can it be achieved at a low-cost? Awareness of the damaging impact digitalization may be having on the environment is in its infancy, yet knowledge reuse is a proactive and cost-effective route to reduce carbon emissions, which is explored in the paper.\u0000","PeriodicalId":55881,"journal":{"name":"Journal of Business Strategy","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-09-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43783791","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 the supply chain breaks: strategies for the chip shortage","authors":"Jennifer Chandler","doi":"10.1108/jbs-02-2022-0029","DOIUrl":"https://doi.org/10.1108/jbs-02-2022-0029","url":null,"abstract":"\u0000Purpose\u0000The purpose of this paper is to propose a political economy framework for strategic supply chain decisions by identifying lessons from the global chip shortage.\u0000\u0000\u0000Design/methodology/approach\u0000Global supply chains have been viewed as holistic political economies because each supply chain is more important than the individual buyer–supplier relationships that comprise it.\u0000\u0000\u0000Findings\u0000Each supply chain is a combination of many different vendor–supplier relationships that seem independent but are actually dependent on one another.\u0000\u0000\u0000Originality/value\u0000With significant geopolitical shifts, it has become necessary holistically consider the cultural, sociopolitical and economic conditions that surround supply chains. This points attention to managing the entire supply chain, rather than the immediate buyer–supplier relationship at hand.\u0000","PeriodicalId":55881,"journal":{"name":"Journal of Business Strategy","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-09-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48215116","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":"The serpent under it: cognitive bias in ethics and compliance training","authors":"P. Hirsch","doi":"10.1108/jbs-08-2022-0145","DOIUrl":"https://doi.org/10.1108/jbs-08-2022-0145","url":null,"abstract":"\u0000Purpose\u0000This study aims to demonstrate the importance of behavioral science in the design of ethics and compliance training.\u0000\u0000\u0000Design/methodology/approach\u0000A review of current practices in ethics and compliance training and a demonstration of the areas in which the use of behavioral science and an understanding of cognitive bias can improve these universal corporate training modules.\u0000\u0000\u0000Findings\u0000There are numerous areas in which the application of behavioral science could improve ethics and compliance training.\u0000\u0000\u0000Originality/value\u0000To the best of the author’s knowledge, this is the first comprehensive review of the potential application of behavioral science to ethics and compliance training.\u0000","PeriodicalId":55881,"journal":{"name":"Journal of Business Strategy","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-09-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45850823","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":"Learning in a hybrid world: new methods for a new workplace","authors":"Michele Rigolizzo","doi":"10.1108/jbs-06-2022-0107","DOIUrl":"https://doi.org/10.1108/jbs-06-2022-0107","url":null,"abstract":"\u0000Purpose\u0000Organizations face a paradox. Because of the disruptions of COVID-19, learning and development was largely put on hold. However, this disruption also changed the value proposition for employees: they expect learning and development to be prioritized. The purpose of this paper is to resolve this paradox by providing a strategic framework that increases the capacity for workplace learning within the constraints of a hybrid world.\u0000\u0000\u0000Design/methodology/approach\u0000Although the COVID-19 disrupted shifted when and where employees learn, it did not change how learning occurs. Therefore, this paper draws from research on workplace learning, cognitive science and neuroscience to develop a conceptual framework of workplace learning and provide practical guidance on how leaders can support it in a hybrid world.\u0000\u0000\u0000Findings\u0000This paper presents a new framework for workplace learning. First, this paper identifies seven key workplace learning behaviors. This paper addresses why a focus on behavior over outcomes is strategically advantageous for hybrid learning. Second, this paper details the opportunities, resources and leadership behaviors that enable each behavior.\u0000\u0000\u0000Research limitations/implications\u0000This paper provides scholars with a new approach to learning and opens avenues for research on the antecedents of workplace learning behaviors, as well as understanding how the behaviors interact over time.\u0000\u0000\u0000Practical implications\u0000This paper helps executives make strategic decisions about hybrid learning based on the science of learning. This paper also provides key tactics for how to encourage and enable employees to learn in remote or hybrid environments.\u0000\u0000\u0000Originality/value\u0000Although there is an abundance of research on individual, team and organizational learning, there is little guidance on what strategies leaders can use to enable learning in the moment, when it is needed most. This paper reorients learning strategy away from learning outcomes to focus on the behaviors that are required to achieve those outcomes. In doing so, this paper provides a model for learning how to learn in a hybrid world.\u0000","PeriodicalId":55881,"journal":{"name":"Journal of Business Strategy","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-08-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42493786","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}