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J. Open Innov. Technol. Mark. Complex., Volume 7, Issue 1 (March 2021) – 104 articles

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Identification of Technology Diffusion by Citation and Main Paths Analysis: The Possibility of Measuring Open Innovation
J. Open Innov. Technol. Mark. Complex. 2021, 7(1), 104; https://0-doi-org.brum.beds.ac.uk/10.3390/joitmc7010104 - 20 Mar 2021
Cited by 1 | Viewed by 700
Abstract
This study collected literature on augmented reality (AR) from academic and patent databases to plot the historic development trajectory of AR and forecast its future research and development trends. A total of 3193 and 13,629 papers were collected from academic and patent databases, [...] Read more.
This study collected literature on augmented reality (AR) from academic and patent databases to plot the historic development trajectory of AR and forecast its future research and development trends. A total of 3193 and 13,629 papers were collected from academic and patent databases, respectively. First, a network was established using references from the academic literature; main path analysis was conducted on this reference network to plot the overall development trajectory. Subsequent cluster and word cloud analyses revealed the following five major groups of AR research topics: AR surgical navigation applications, AR education applications, AR applications in manufacturing, AR applications in architecture, and AR applications in visual tracking. Subsequently, the relationships between the overall development trajectory and the five AR research topics were compared. Next, the title and abstract of AR-related academic and patent papers were subjected to text mining to identify keywords with a high frequency of occurrence. The results can provide a reference for industry, government, and academia when planning future development strategies for the AR field. This research adopted an integrated analysis procedure to plot the trajectory of AR technology development and applications successfully and effectively, predict future patent research and development directions and produce technological forecasts. Full article
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The Innovation of Government Bonds in the Growth of an Emergent Capital Market
J. Open Innov. Technol. Mark. Complex. 2021, 7(1), 103; https://0-doi-org.brum.beds.ac.uk/10.3390/joitmc7010103 - 20 Mar 2021
Viewed by 614
Abstract
The growth of an emerging capital market is necessary and requires all available resources and inputs from various sources to realize this objective. Several debates on government bonds’ contribution to Nigeria’s capital market developmental growth have ensued but have not triggered comprehensive studies [...] Read more.
The growth of an emerging capital market is necessary and requires all available resources and inputs from various sources to realize this objective. Several debates on government bonds’ contribution to Nigeria’s capital market developmental growth have ensued but have not triggered comprehensive studies in this area. The present research work seeks to close the breach by probing the impact of government bonds on developing the capital market in Nigeria from 2003–2019. We employ total market capitalization as the response variable to proxy the capital market, while various government bonds serve as the independent variables. The inflation rate moderates the predictor components. The research uses multiple regression technique to assess the explanatory variables’ impact on the total market capitalization. At the same time, diagnostic tests help guarantee the normality of the regression model’s data distribution and appropriateness. The findings reveal that the Federal Government of Nigeria’s (FGN) bond is statistically significant and positive in influencing Nigeria’s capital market growth. The other predictor variables are not found significant in this study. The study suggests that the Government should improve on the government bonds’ coupon, while still upholding the none default norm in paying interest and refunding principal to investors when due. Full article
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Cryptocurrency Open Innovation Payment System: Comparative Analysis of Existing Cryptocurrencies
J. Open Innov. Technol. Mark. Complex. 2021, 7(1), 102; https://0-doi-org.brum.beds.ac.uk/10.3390/joitmc7010102 - 19 Mar 2021
Viewed by 843
Abstract
This study was conducted to evaluate the implementation of an open innovation cryptocurrency financial system using a statistical approach. The data array reflects the actual speed of the cryptocurrency system, expressed in transactions per second (TPS), taken as the average annual speed. The [...] Read more.
This study was conducted to evaluate the implementation of an open innovation cryptocurrency financial system using a statistical approach. The data array reflects the actual speed of the cryptocurrency system, expressed in transactions per second (TPS), taken as the average annual speed. The article offers a comprehensive approach for choosing the optimal cryptocurrency financial system. The final analysis shows that the reasons for the adoption of the cryptocurrency financial system are practicality and convenience, as well as efficient transaction time, faster payment, and simplicity of the payment process. The impact of social factors, expected efforts, and conditions of assistance on the attitude to the cryptocurrency financial system were evaluated. In addition, social factors that have a significant impact on the implementation of the cryptocurrency financial system were identified. Full article
(This article belongs to the Special Issue Financial Open Innovations for Sustainable Economic Growth)
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Adaptive Life Cycle Costing (LCC) Modeling and Applying to Italy Ceramic Tile Manufacturing Sector: Its Implication of Open Innovation
J. Open Innov. Technol. Mark. Complex. 2021, 7(1), 101; https://0-doi-org.brum.beds.ac.uk/10.3390/joitmc7010101 - 19 Mar 2021
Cited by 1 | Viewed by 749
Abstract
Converging business, sustainability, and technology is a challenge that manufacturing firms face to create value and be competitive. Energy- and raw material-intensive manufacturing industries are particularly aware of environmental issues and circular economy practices due to the large amounts of resources they use. [...] Read more.
Converging business, sustainability, and technology is a challenge that manufacturing firms face to create value and be competitive. Energy- and raw material-intensive manufacturing industries are particularly aware of environmental issues and circular economy practices due to the large amounts of resources they use. However, manufacturing companies must also be mindful of economic sustainability in order to make their business profitable. For this, appropriate economic evaluation tools are needed, one of which is life cycle costing (LCC). LCC, when applied to the manufacturing context, is often considered as a simple extension of the life cycle assessment (LCA). This is the main limitation of LCC, as it only contributes to determining the economic value of environmental damage. This research aims to overcome this limitation, analyzing the Italian ceramic tile manufacturing sector as a case study in order to conceptually develop, through the abductive methodology, a calculation framework that extends the potential of LCC by including circularity parameters. Subsequently, the conceptual framework is empirically validated using sectoral industrial costs by configuring two scenarios (with and without circularity practices) and building a benchmark for individual firms in this industry. Finally, the research includes some considerations on the positive implications and potential of life cycle costing in an open innovation context. Full article
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The Effect of Corporate Philanthropy on Consumer Behavior: Open Innovation in the Operating Mechanism
J. Open Innov. Technol. Mark. Complex. 2021, 7(1), 100; https://0-doi-org.brum.beds.ac.uk/10.3390/joitmc7010100 - 17 Mar 2021
Viewed by 637
Abstract
The aim of this study was to highlight the effect of corporate philanthropy (CP) on consumer patronage behavior. For this purpose, reciprocity was taken as the key mechanism which determines consumers’ willingness to participate in and buy goods or services of a company [...] Read more.
The aim of this study was to highlight the effect of corporate philanthropy (CP) on consumer patronage behavior. For this purpose, reciprocity was taken as the key mechanism which determines consumers’ willingness to participate in and buy goods or services of a company performing philanthropic activities. The moderating effect of trust and vicarious licensing was also studied. Considering the importance of CP to society and its residents, it is essential to recognize its effect on consumer patronage behavior. To accomplish this objective, data were collected from 340 respondents via a questionnaire. The results of this research revealed that reciprocity shows a statistically significantly positive association with both participation intention (R = 0.729, R2 = 0.531, p = 0.000, b = 0.740) and purchasing intention (R = 0.71, R2 = 0.534, p = 0.000, b = 0.878). Similarly, trust strengthens the relationship of reciprocity with both participation intention (b = 0.250) and purchasing intention (b = 0.310). However, vicarious licensing weakens the relationship of reciprocity with both participation intention (b = −0.175) and purchasing intention (b = −0.187). The mediation effect of participation intention was also examined in this study. The results of this research will contribute to the benefit of society, since philanthropy plays a vital role in society’s progress. The greater response of consumers towards companies performing philanthropic activities justifies the importance of CP. Full article
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Multidexterity—A New Metaphor for Open Innovation
J. Open Innov. Technol. Mark. Complex. 2021, 7(1), 99; https://0-doi-org.brum.beds.ac.uk/10.3390/joitmc7010099 - 16 Mar 2021
Cited by 4 | Viewed by 986
Abstract
Open innovation will have an important role to play in recovering from the aftermath of the coronavirus and it has already made a crucial contribution. The prism of COVID-19 (“COVID” hereafter) has made more vivid both the complexity and unpredictability of managing innovation. [...] Read more.
Open innovation will have an important role to play in recovering from the aftermath of the coronavirus and it has already made a crucial contribution. The prism of COVID-19 (“COVID” hereafter) has made more vivid both the complexity and unpredictability of managing innovation. This article considers why today’s open, intrinsically unpredictable business environments require updated theories for managing innovation. Concept formation lies at the heart of all social science progress and in this paper, we propose a new concept to accurately reflect the turbulence and complexity of managing open innovation in a post-COVID world. We argue that the innovator’s dilemma—a still influential argument that suggests exploiting current resources necessarily reduces the likelihood of successful exploration for new resources—is an increasingly problematic theoretic anchor. Furthermore, the prescription based on this line of thinking that organizational leaders should foster ambidextrous capabilities is increasingly suspect as leadership is more broadly shared and organizational processes become less easily dichotomized and controllable. We argue that the operating context for organizations is now so complex and ambiguous that it is time to revisit and revise the widely accepted concept of “ambidexterity” and we describe the updated and expanded construct as Multidexterity. “Multidexterity” is the organizational ability to simultaneously carry out multiple search and selection activities based on diverse strategic logics and levels of knowledge to generate a portfolio of innovative outcomes. We describe a number of case studies of extreme and unique collaboration to underpin our revised concept. Our paper reveals the advantages of the updated view, outlining the fresh insights it can generate. We conclude by setting out an agenda for future research and suggesting that joint empirical research by academics and practitioners is needed to further develop this approach to innovation. Full article
(This article belongs to the Special Issue Ambidextrous Open Innovation: Technology, Market and Complexity)
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Tax Regulation on Blockchain and Cryptocurrency: The Implications for Open Innovation
J. Open Innov. Technol. Mark. Complex. 2021, 7(1), 98; https://0-doi-org.brum.beds.ac.uk/10.3390/joitmc7010098 - 16 Mar 2021
Cited by 1 | Viewed by 1027
Abstract
Blockchain is a technology that will change the relationships between the different actors in society, individuals, companies and administration, in aspects as important as taxation, by implementing concepts such as Self-sovereign identity (SSI) and Smart Contracts; which support, for example, virtual currencies, that [...] Read more.
Blockchain is a technology that will change the relationships between the different actors in society, individuals, companies and administration, in aspects as important as taxation, by implementing concepts such as Self-sovereign identity (SSI) and Smart Contracts; which support, for example, virtual currencies, that are not controlled by any state, financial institution or centralized company. Hence, the growing interest of researchers, investors, traders, marketers, enterprises, and administrations to know the scope of this new technology and its tax implications. The main objective of this work is to clarify the status of these studies, explore issues, methods, findings, and trends as well as to define their meaning within the current research scenario. To achieve these objectives, bibliometric analysis was carried out, retrieving 349 research papers, and analyzing 343 papers published between 2015–2019 based on the results of the Web of Science (WoS). Full article
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Continuance Intention of E-Learning: The Condition and Its Connection with Open Innovation
J. Open Innov. Technol. Mark. Complex. 2021, 7(1), 97; https://0-doi-org.brum.beds.ac.uk/10.3390/joitmc7010097 - 16 Mar 2021
Cited by 2 | Viewed by 720
Abstract
Recently having increased every year, in 2017, e-learning’s worldwide average growth rate was 7.9% with a worldwide market of USD 52.5 billion. Holding all nations’ eighth highest e-learning growth rate, Indonesia had a market of USD 12.2 billion, with a growth rate of [...] Read more.
Recently having increased every year, in 2017, e-learning’s worldwide average growth rate was 7.9% with a worldwide market of USD 52.5 billion. Holding all nations’ eighth highest e-learning growth rate, Indonesia had a market of USD 12.2 billion, with a growth rate of 25% in 2017. Obviously, Indonesia has great potential to develop a greater, even more prospective e-learning business. In fact, the Republic of Indonesia’s Minister of Education and Culture plans to make e-learning permanent by changing traditional into hybrid learning, including at the primary school level. Consequently, this study recommended strategies for increasing “continuance intention” for e-learning in primary schools. A conceptual model was developed based on the Expectation-Confirmation Model of Information System Continuance and the Information System Success Model. The study’s model development involved 195 teacher-respondents and used the partial least squares structural equation modeling for data analysis. Four of 11 hypotheses were rejected because they did not meet the requirements, but based on other results, 10 strategic recommendations were submitted to and assessed by several experts who used the integrated method of Importance-Performance Analysis and Kano to select four strategies selected as improvement priorities and three as keep-up-the-good-work priorities. Full article
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Emotional Impact of Dishes versus Wines on Restaurant Diners: From Haute Cuisine Open Innovation
J. Open Innov. Technol. Mark. Complex. 2021, 7(1), 96; https://0-doi-org.brum.beds.ac.uk/10.3390/joitmc7010096 - 16 Mar 2021
Cited by 1 | Viewed by 957
Abstract
Haute cuisine is emblematic in the world of tourism and is of fundamental importance in the economic and social life in most countries worldwide. Haute cuisine gastronomic experiences play with the senses, involving the diner, thus generating a unique experience for the customer. [...] Read more.
Haute cuisine is emblematic in the world of tourism and is of fundamental importance in the economic and social life in most countries worldwide. Haute cuisine gastronomic experiences play with the senses, involving the diner, thus generating a unique experience for the customer. This empirical study aims to analyze the influence on the consumer of the characteristic stimuli of a high-level gastronomic experience in a restaurant with two Michelin stars. Using neuromarketing biometrics, combined with a qualitative research technique, the objective of this research was to determine the emotional impact of the presentation and tasting of dishes compared to wines and to draw conclusions about each variable in the general experience. The results indicate that the dishes have a greater influence on the level of interest than the wines, and both have a different emotional impact at different moments of the experience due to its duration. Full article
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Compassion and Workplace Incivility: Implications for Open Innovation
J. Open Innov. Technol. Mark. Complex. 2021, 7(1), 95; https://0-doi-org.brum.beds.ac.uk/10.3390/joitmc7010095 - 15 Mar 2021
Cited by 1 | Viewed by 821
Abstract
The purpose of this study was to examine mechanisms of how compassion experienced by employees affects workplace incivility. Specifically, this study aimed to explore the double mediation effect of positive emotion and leadership on the relationship between compassion and workplace incivility. Empirical results [...] Read more.
The purpose of this study was to examine mechanisms of how compassion experienced by employees affects workplace incivility. Specifically, this study aimed to explore the double mediation effect of positive emotion and leadership on the relationship between compassion and workplace incivility. Empirical results using survey data from 304 employees in South Korea confirm that employees who experience compassion at work are less likely to engage in workplace incivility. More importantly, positive emotions and positive leadership sequentially mediate the negative relationship between compassion and workplace incivility. The theoretical and practical implications are of this are also discussed. Full article
Article
Business Dynamism and Innovation Capacity, an Entrepreneurship Worldwide Perspective
J. Open Innov. Technol. Mark. Complex. 2021, 7(1), 94; https://0-doi-org.brum.beds.ac.uk/10.3390/joitmc7010094 - 15 Mar 2021
Cited by 2 | Viewed by 796
Abstract
This research aims to identify which factors best explain business dynamics and innovation capacity in the continents of Africa, Asia, Europe, Latin America and the Caribbean, and North America. To achieve this, data from the Global Entrepreneurship Monitor and the Global Competitiveness Report [...] Read more.
This research aims to identify which factors best explain business dynamics and innovation capacity in the continents of Africa, Asia, Europe, Latin America and the Caribbean, and North America. To achieve this, data from the Global Entrepreneurship Monitor and the Global Competitiveness Report is used. The linear regression method is utilized with the stepwise procedure for data analysis. It is possible to ascertain that, with a view to increasing innovation capacity in the African continent, business leaders and managers should be acquainted with innovation studies to better understand technological advances. In relation to Asia, the detected models of business dynamism and capacity for innovation are positive. On the European continent, the results show that RIS3 has a positive impact on the capacity for innovation. In Latin America and the Caribbean, it seems that business dynamism and the capacity for innovation are negative and regional development policies should be more flexible. In North America, it appears that business dynamism and the capacity for innovation are negative. The research contributes with measures that can be applied by organizations and policymakers to these five continents to improve the performance of business dynamism and the capacity for innovation in their territories. The resulting data give originality to the research as well as important contributions, not only to the theory, but also to the entities (organizations and governments) acting in the field who can implement new policies, such as tax incentives to companies for the first purchase of high-tech equipment, products, or products with intellectual property rights developed by national companies and provide support policies directed to companies that purchase high-tech domestic equipment. Full article
Article
Information System for Monitoring and Managing the Quality of Educational Programs
J. Open Innov. Technol. Mark. Complex. 2021, 7(1), 93; https://0-doi-org.brum.beds.ac.uk/10.3390/joitmc7010093 - 11 Mar 2021
Viewed by 526
Abstract
The article explores the issues of the objective approach to managing the educational process allowing to effectively update and monitor it. The study is aimed at organizing the processes of control and management of the quality of educational programs with reduced time costs. [...] Read more.
The article explores the issues of the objective approach to managing the educational process allowing to effectively update and monitor it. The study is aimed at organizing the processes of control and management of the quality of educational programs with reduced time costs. The authors have researched the processes of methodological support of the educational process and the corresponding documents of an educational organization. An information system for monitoring and managing the quality of educational programs has been developed. The authors have developed models of the problem area, allowing one to determine the bottlenecks in organizing education quality control. The results of the study are meant for the internal audit of educational services and carrying out the procedures of public control, accreditation, or licensing of an educational organization. They allow for the quantitative evaluation of the educational program content and unambiguous interpretation of the obtained result. For this, the authors have developed an objective system for assessing the quality of educational programs. The assessment includes a set of objective indicators with a certain significance: for example, compliance with certain standards, the use of relevant peer-reviewed literature, agreed forms of education, a point-rating system, etc. All criteria are divided into blocks, each of which has a corresponding conformity assessment system. The developed assessment scale unifies the quality monitoring procedure, reduces subjective evaluations, and ensures less time-consuming monitoring of the quality of an educational program at the different stages of its life cycle. Full article
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Design Trend Forecasting by Combining Conceptual Analysis and Semantic Projections: New Tools for Open Innovation
J. Open Innov. Technol. Mark. Complex. 2021, 7(1), 92; https://0-doi-org.brum.beds.ac.uk/10.3390/joitmc7010092 - 10 Mar 2021
Viewed by 587
Abstract
In this paper, we describe a new trend analysis and forecasting method (Deflexor), which is intended to help inform decisions in almost any field of human social activity, including, for example, business, art and design. As a result of the combination of conceptual [...] Read more.
In this paper, we describe a new trend analysis and forecasting method (Deflexor), which is intended to help inform decisions in almost any field of human social activity, including, for example, business, art and design. As a result of the combination of conceptual analysis, fuzzy mathematics and some new reinforcing learning methods, we propose an automatic procedure based on Big Data that provides an assessment of the evolution of design trends. The resulting tool can be used to study general trends in any field—depending on the data sets used—while allowing the evaluation of the future acceptance of a particular design product, becoming in this way, a new instrument for Open Innovation. The mathematical characterization of what is a semantic projection, together with the use of the theory of Lipschitz functions in metric spaces, provides a broad-spectrum predictive tool. Although the results depend on the data sets used, the periods of updating and the sources of general information, our model allows for the creation of specific tools for trend analysis in particular fields that are adaptable to different environments. Full article
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Word of Mouth, Digital Media, and Open Innovation at the Agricultural SMEs
J. Open Innov. Technol. Mark. Complex. 2021, 7(1), 91; https://0-doi-org.brum.beds.ac.uk/10.3390/joitmc7010091 - 09 Mar 2021
Cited by 2 | Viewed by 956
Abstract
Small and medium enterprises (SMEs) must continue to combine technology and market adaptation or open innovation to sustain their business. One of these ways is to promote their products and services extensively. This study investigated the best media to promote SMEs in the [...] Read more.
Small and medium enterprises (SMEs) must continue to combine technology and market adaptation or open innovation to sustain their business. One of these ways is to promote their products and services extensively. This study investigated the best media to promote SMEs in the local agricultural markets of Hungary. This study uses an approach of asking consumers where they receive information about SMEs and their determinants. Research questionnaires were distributed to 156 consumers who purchased agricultural products on the Budapest Central Market Hall. The data were analyzed using a binary logistic model. The studies showed that consumers obtain market information through word-of-mouth and digital media. Older consumers tend to receive information through word-of-mouth, while consumers who rarely interact with others or who are educated or foreign choose digital media. Therefore, SMEs in Hungary’s local agricultural markets have yet to focus on developing promotional activities through these two media. For the future, recommendations are given to SMEs in Hungary to maintain the quality of products and services and to develop two-way communication in digital media (e-WOM). Full article
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Red Queen Effect in German Bank Industry: Implication of Banking Digitalization for Open Innovation Dynamics
J. Open Innov. Technol. Mark. Complex. 2021, 7(1), 90; https://0-doi-org.brum.beds.ac.uk/10.3390/joitmc7010090 - 09 Mar 2021
Viewed by 552
Abstract
This study analyzed the firm’s actual case in an environment where the financial industry’s paradigm changes due to technological development. It focused on Deutsche Bank’s competitive action at the heart of the digitalizing European banking industry. This study presents the competitive dynamics among [...] Read more.
This study analyzed the firm’s actual case in an environment where the financial industry’s paradigm changes due to technological development. It focused on Deutsche Bank’s competitive action at the heart of the digitalizing European banking industry. This study presents the competitive dynamics among firms and the effects of such dynamics on firm performance. Based on the competitive dynamics between Deutsche Bank and other banks competing in the European banking industry, the Red Queen theory was applied. This study has shown that Deutsche Bank’s innovative actions in the digitalizing European banking industry are necessary and are a factor that can lead to successful firm performance in a hyper-competitive environment. Firms need to develop a capability to quickly capture the opportunities to innovate and take advantage of them to stay ahead of their competitors. Full article
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Environmental Management, Green Innovation, and Social–Open Innovation
J. Open Innov. Technol. Mark. Complex. 2021, 7(1), 89; https://0-doi-org.brum.beds.ac.uk/10.3390/joitmc7010089 - 09 Mar 2021
Viewed by 758
Abstract
The present study aims to determine the impact of green innovation (GI) on the overall performance of an organization while keeping the variable of environmental management (EM) as a moderator. We used a dataset consisting of four data years, from 2014 to 2017, [...] Read more.
The present study aims to determine the impact of green innovation (GI) on the overall performance of an organization while keeping the variable of environmental management (EM) as a moderator. We used a dataset consisting of four data years, from 2014 to 2017, of A-share companies listed on the Shanghai Stock Exchange (SSE). The concept of green innovation refers to the use of advancements in technology that enable savings in energy, along with the recycling of waste material. When advanced technology is utilized in the production process, the products are referred to as green products and the whole process of adopting such technologies and product design is referred to as “Corporate Environmental Management”. Such innovations improve the overall financial performance of companies as it enables them to improve their social image by reducing their carbon footprint and ensures their long-term sustainability. The main issue is the limited focus and attention given to the topic, from the perspective of companies. This research focuses on the impact of green innovation and the importance of environmental management for the sustainability of companies. Our findings suggest that the relationship between green innovation and the performance of the company is positive and verifies the existence of moderating effects of environmental management on the relationship between green innovation and firm performance. Implications are given to academia and practitioners. Full article
(This article belongs to the Special Issue Financial Open Innovations for Sustainable Economic Growth)
Article
FinTech in the Small Food Business and Its Relation with Open Innovation
J. Open Innov. Technol. Mark. Complex. 2021, 7(1), 88; https://0-doi-org.brum.beds.ac.uk/10.3390/joitmc7010088 - 08 Mar 2021
Cited by 1 | Viewed by 1203
Abstract
Small food businesses have difficulty accessing banks for financing. The growth of the sharing economy through financial technology (FinTech) makes it possible for small enterprises to receive access for credit. However, not all small business owners want to receive financing from FinTech companies. [...] Read more.
Small food businesses have difficulty accessing banks for financing. The growth of the sharing economy through financial technology (FinTech) makes it possible for small enterprises to receive access for credit. However, not all small business owners want to receive financing from FinTech companies. This study aims to analyze factors affecting FinTech adoption in small enterprises and its impact on business sustainability. The modified UTAUT 2 model was applied in this study. There were 184 small food business owners participating as respondents. To analyze the causal relationship between variables, Structural Equation Modeling (SEM) was implemented. The results of the research found that knowledge, safety perceptions, performance expectations, social influence, facilitation conditions and price values affect FinTech adoption by small food business owners. Moreover, FinTech adoption influences small food business sustainability. Several important recommendations for researchers, the FinTech industry and policy makers are formulated. Full article
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Women in Top Management: Performance of Firms and Open Innovation
J. Open Innov. Technol. Mark. Complex. 2021, 7(1), 87; https://0-doi-org.brum.beds.ac.uk/10.3390/joitmc7010087 - 07 Mar 2021
Cited by 1 | Viewed by 647
Abstract
The lack of women’s presence in firms’ top management positions reflects gender equity problems, especially in South Asia, including Pakistan, and contours a firm’s financial behavior. Based on the underpinning of the conceptual framework developed by a combination of fourteen femininity theories, the [...] Read more.
The lack of women’s presence in firms’ top management positions reflects gender equity problems, especially in South Asia, including Pakistan, and contours a firm’s financial behavior. Based on the underpinning of the conceptual framework developed by a combination of fourteen femininity theories, the current study investigates women’s induction in top management and its impact on a firm’s financial behavior. We collected data from annual reports of 60 non-financial firms listed at the Pakistan Stock Exchange (PSX) for 2013–2019. The study uses the return of assets (ROA), firm’s stability (FSTB), and risk-taking behavior (RTB) as dependent variables. Meanwhile, board gender diversity (BGD), female CEO (FCEO), female director-general (FDG), and female in audit committee (FIAC) are taken as independent variables. A multiple regression diagnostics approach is applied to analyze the data. The study reveals the positive impact of BGD on ROA and FSTB. However, this effect is adverse to RTB. The FIAC shows a positive (negative) impact on ROA (RTB). It also finds a negative impact of FCEO and FDG on ROA and FSTB. Full article
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Evolution of the Business Model: Arriving at Open Business Model Dynamics
J. Open Innov. Technol. Mark. Complex. 2021, 7(1), 86; https://0-doi-org.brum.beds.ac.uk/10.3390/joitmc7010086 - 05 Mar 2021
Cited by 1 | Viewed by 870
Abstract
The business is an abstraction of the way in which value is created and delivered. The concrete representation is the business model, expressed by a group of artifacts built with different languages. It serves to describe, explain, analyze, design, and evaluate the business. [...] Read more.
The business is an abstraction of the way in which value is created and delivered. The concrete representation is the business model, expressed by a group of artifacts built with different languages. It serves to describe, explain, analyze, design, and evaluate the business. The set of concepts, construction rules, artifacts, and languages required to express it, are defined by a Meta-Business Model (MBM). Multiple authors have proposed different MBMs, each one with a specific motivation and objective. Some of these MBMs are widely recognized and have been applied in contexts like innovation and entrepreneurship. Due to new challenges, such as sustainability, being faced by businesses and given new ways of producing and delivering value, like the sharing economy, Novel Complex Businesses (NCBs) are emerging. NCBs are businesses characterized by circular structures made out of numerous inter-related components, and by creating value out of the product/service schema. While existing MBMs fulfill certain purposes, they do not have the expressiveness required to describe NCBs precisely enough to describe and analyze them. This paper introduces an MBM with the concepts, construction rules, and graphical notation needed to represent NCBs. We also illustrate an NCB and present the results of the validation for our MBM. Full article
(This article belongs to the Special Issue Business Model Innovation)
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The Response of Islamic Financial Service to the COVID-19 Pandemic: The Open Social Innovation of the Financial System
J. Open Innov. Technol. Mark. Complex. 2021, 7(1), 85; https://0-doi-org.brum.beds.ac.uk/10.3390/joitmc7010085 - 04 Mar 2021
Cited by 2 | Viewed by 1415
Abstract
Novel Coronavirus, also known as COVID-19, is a health emergency that is having an ever-growing impact on the global economy. COVID-19 has caused economic disruption at an unprecedented speed and scale. The economic costs it will bring to society can only be measured [...] Read more.
Novel Coronavirus, also known as COVID-19, is a health emergency that is having an ever-growing impact on the global economy. COVID-19 has caused economic disruption at an unprecedented speed and scale. The economic costs it will bring to society can only be measured in times to come. Millions of people across the globe have already become unemployed, and similarly, millions of businesses have either shut down or are on the verge of collapse. It is a great challenge for policymakers to minimize the economic impact of COVID-19 and put the economy on a growth trajectory once again. Unfortunately, there is so far no country in the world that can be viewed as a role model for its economic response to the COVID-19 pandemic. The present study proposes Islamic finance as a potential tool to help affected economies safely pass through the economic crisis resulting from the pandemic. This study identifies a four-stage COVID-19 model and proposes ten innovative Islamic financial services for each stage of the pandemic. In addition, it analyzes how these services can be effectively utilized at different stages to overcome the economic damage caused by the pandemic. Full article
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Pereira Problem Solving: Business Research Methodology to Explore Open Innovation
J. Open Innov. Technol. Mark. Complex. 2021, 7(1), 84; https://0-doi-org.brum.beds.ac.uk/10.3390/joitmc7010084 - 04 Mar 2021
Cited by 3 | Viewed by 836
Abstract
Problem solving skills are increasingly important to be able to tackle the complex problems encountered in the business world. Nowadays is increasingly important to achieve sustainable development, focusing not only on economic profit but also on creating social value. It is widely agreed [...] Read more.
Problem solving skills are increasingly important to be able to tackle the complex problems encountered in the business world. Nowadays is increasingly important to achieve sustainable development, focusing not only on economic profit but also on creating social value. It is widely agreed that the principles of scientific management can lead to more effective solutions for complex problems. Problems have to be looked at objectively, with methodology and intellectual integrity and modesty. Several techniques have been developed to help analyze the causes of the problem or formulate solutions. Although these business research techniques are important tools, they are presented as isolated measures. Pereira Problem Solving methodology presented provides guide to address business and management problems. It is an integrative and easy-to-use instrument that helps organizations adopt scientific management practices and will enhance the efficiency of the solutions encountered. Full article
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Article
Executives’ Knowledge Management and Emotional Intelligence Role: Dynamizing Factor towards Open Innovation
J. Open Innov. Technol. Mark. Complex. 2021, 7(1), 83; https://0-doi-org.brum.beds.ac.uk/10.3390/joitmc7010083 - 03 Mar 2021
Viewed by 676
Abstract
The main aim of this empirical research was to classify the profiles of executives of Spanish companies. We classified the executives’ profiles based on two key factors of innovation: knowledge management and emotional intelligence. The sample comprised study 241 executives of Spanish companies, [...] Read more.
The main aim of this empirical research was to classify the profiles of executives of Spanish companies. We classified the executives’ profiles based on two key factors of innovation: knowledge management and emotional intelligence. The sample comprised study 241 executives of Spanish companies, a principal component analysis, a two-stage cluster analysis, and an ANOVA analysis conducted by taking innovation as a dependent variable. The theory of resources and capacities was the theoretical framework. We conclude that the differentiation of executives’ profiles is essential to avoid the loss of innovative potential and a consequent loss of competitive advantage in the Spanish business sector. This research contributes to identify a taxonomy of executives’ profiles—agile, laggard, soloist and cooperator. These groups present some different levels of knowledge management and emotional intelligence and differences in their ability to innovate. Full article
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Article
The Influence of Research and Innovation Strategies for Smart Specialization (RIS3) on University-Industry Collaboration
J. Open Innov. Technol. Mark. Complex. 2021, 7(1), 82; https://0-doi-org.brum.beds.ac.uk/10.3390/joitmc7010082 - 03 Mar 2021
Viewed by 418
Abstract
This study aims to understand better research and innovation strategies for smart specialization (RIS3) and assess how they influence university-industry (U-I) collaboration empirically. Primary data were collected from a focus group consisting of representatives of universities and government entities from Portugal and Spain. [...] Read more.
This study aims to understand better research and innovation strategies for smart specialization (RIS3) and assess how they influence university-industry (U-I) collaboration empirically. Primary data were collected from a focus group consisting of representatives of universities and government entities from Portugal and Spain. Secondary European Union (EU) data on the application of smart specialization measures and the innovation in these two countries were also included. The results reveal difficulties in implementing RIS3, resulting in decreased investment in research and innovation in all production sectors. Evidence also pointed to the negative impact of smart specialization measures on U-I collaboration and, consequently, on the respective knowledge transfer. Full article
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Article
Business Model Dynamics from Interaction with Open Innovation
J. Open Innov. Technol. Mark. Complex. 2021, 7(1), 81; https://0-doi-org.brum.beds.ac.uk/10.3390/joitmc7010081 - 03 Mar 2021
Cited by 1 | Viewed by 899
Abstract
In today’s competitive environment, firms face strong challenges. We live in a volatile, uncertain, complex and ambiguous (VUCA) environment where open innovation is a strategic choice and, on top of that, the COVID-19 pandemic has emphasized most of these disrupting forces. Incumbent companies [...] Read more.
In today’s competitive environment, firms face strong challenges. We live in a volatile, uncertain, complex and ambiguous (VUCA) environment where open innovation is a strategic choice and, on top of that, the COVID-19 pandemic has emphasized most of these disrupting forces. Incumbent companies must act strategically by adapting their business model to minimize the risk and to capture the new value that emerges. This article intends to contribute to the development of the nascent stream of research that seeks to understand the evolution of Business Models through time—known as Business Model Dynamics (BMD)—and explores how to better align this evolution to the implementation settings of strategy. This exploratory study is built upon a meta-synthesis approach to identify, analyze, and clarify how academics have dealt with the three terms used in the Business Model Dynamics research strand: Business Model Innovation, Business Model Adaptation, and Business Model Evolution. The results of the meta-synthesis show that a disambiguation of concepts is necessary as, from an organizational learning point of view, it is required to provide a better connection between strategic value appropriation and changes on Business Models. This article contributes to the researcher and practitioner’s literature on Business Model Dynamics offering a clear and rigorous definition of each term from a strategic point of view, thus preventing the conceptual incoherence and their reiterated wrong use as synonyms. Full article
(This article belongs to the Special Issue Business Model Innovation)
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Article
Applying Blockchain in the Modern Supply Chain Management: Its Implication on Open Innovation
J. Open Innov. Technol. Mark. Complex. 2021, 7(1), 80; https://0-doi-org.brum.beds.ac.uk/10.3390/joitmc7010080 - 02 Mar 2021
Cited by 1 | Viewed by 4451
Abstract
Over the past decade, the blockchain technology has been actively embraced by an increasing number of companies. Blockchain has proven its effectiveness not only in the financial sector, but also in logistics and supply chain management, and has received extensive coverage in the [...] Read more.
Over the past decade, the blockchain technology has been actively embraced by an increasing number of companies. Blockchain has proven its effectiveness not only in the financial sector, but also in logistics and supply chain management, and has received extensive coverage in the scientific literature. At the same time, the implementation of blockchain in logistics and supply chain management (SCM) is technically difficult and requires significant financial costs. In this regard, its distribution in countries across the world is uneven. In this study, we compare the implementation of blockchain in countries with developed (Germany) and emerging (Russia) economies. Thus, our study provides new findings and information on the similarities and differences in blockchain implementation strategies in countries with developed and emerging economies. This comparative analysis reveals country peculiarities and different approaches regarding the application of blockchain technologies. The research methodology is based on the case study method. Three economic sectors are selected for the cross-country comparative analysis: the energy, food, and pharmaceutical industries. The analysis is focused on the use of blockchain along all three parts of the supply chain: upstream, production and downstream. Using theory building through case studies, our research results reveal many similarities in blockchain implementation in Germany and Russia. They show that blockchain is actively used in all three analyzed sectors by companies in both countries. Moreover, the technology proves its effectiveness in both upstream and downstream parts of the supply chain. In both Germany and Russia, blockchain is mainly used by large businesses due to its high costs. However, there are some differences regarding the implementation process of the technology in both countries. Firstly, the state support is required for some Russian blockchain projects. Secondly, none of the Russian companies has the necessary "full range" of blockchain competencies, so all Russian projects are carried out in collaboration with other parties, primarily IT partners. Thirdly, most of the Russian blockchain projects are still local in nature and relate to the use of technology in the relationship between the specific supplier and corresponding consumers. Full article
(This article belongs to the Special Issue Global Challenges of Digital Transformation of Markets (GDTM-2020))
Article
Mathematical Modeling for Financial Analysis of an Enterprise: Motivating of Not Open Innovation
J. Open Innov. Technol. Mark. Complex. 2021, 7(1), 79; https://0-doi-org.brum.beds.ac.uk/10.3390/joitmc7010079 - 01 Mar 2021
Cited by 2 | Viewed by 710
Abstract
The article develops economic and mathematical models as a tool for conducting factor financial analysis of the prospects for the development of an industrial enterprise. The functioning of the developed economic and mathematical models is based on the DuPont model, which allows analyzing [...] Read more.
The article develops economic and mathematical models as a tool for conducting factor financial analysis of the prospects for the development of an industrial enterprise. The functioning of the developed economic and mathematical models is based on the DuPont model, which allows analyzing the dynamics of the company’s profitability in the course of two-factor and three-factor financial analysis. The proposed model tools are based on the convergence of deterministic financial analysis methods embedded in the DuPont model and simulation methods that allow analysis under the influence of random factors. The constructed economic and mathematical models for forecasting profitability use the company’s retrospective data on its financial condition: the amount of profit, revenue, assets, and equity. The constructed simulation models are implemented in the OMEGA software product and included in the computer technology for predicting the profitability of an industrial enterprise. The architecture of the proposed tools is presented, and the results of simulation experiments performed on models are demonstrated. Full article
(This article belongs to the Special Issue Financial Open Innovations for Sustainable Economic Growth)
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Article
Telepresence and Interactivity in Mobile Learning System: Its Relation with Open Innovation
J. Open Innov. Technol. Mark. Complex. 2021, 7(1), 78; https://doi.org/10.3390/joitmc7010078 - 01 Mar 2021
Viewed by 879
Abstract
Mobile learning applications enable people to spend fragmented time to improve their knowledge and competitiveness. Enterprises aim to design innovative applications and create a new learning mode for the public, and the open innovation strategies may help companies achieve their goals. In the [...] Read more.
Mobile learning applications enable people to spend fragmented time to improve their knowledge and competitiveness. Enterprises aim to design innovative applications and create a new learning mode for the public, and the open innovation strategies may help companies achieve their goals. In the current study, the English learning application “LAIX” was investigated, and an online survey was used to obtain data from 289 university students in Guangzhou. This study combines the technology acceptance model (TAM) with flow theory (FT), investigating the psychological experience factors and the system characteristics that influence users’ behavior intentions. The exploration of perceptual variables will promote the establishment of an open innovation model of mobile learning applications. The aim of the study was to establish a theoretical framework to more deeply explore users’ intentions in mobile learning applications. Structural equation modeling (SEM) was used to help measure the relationship between variables and determine the model fit. This research reveals that telepresence is the most important variable that impacts user intentions to use mobile learning applications. In addition, the mediating effect of the flow experience was tested. Telepresence and interactivity indirectly influence behavioral intention through the variable “flow”. Users appear to be more concerned with the flow experience, which shows the highest correlation with intention to use the application. This study may assist companies to innovate system characteristics and improve customers’ user experience, for instance, by integrating virtual reality (VR) technology into the mobile learning system to improve their open innovation level and market popularity. Full article
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Article
Non-Classical Approach to Identifying Groups of Countries Based on Open Innovation Indicators
J. Open Innov. Technol. Mark. Complex. 2021, 7(1), 77; https://0-doi-org.brum.beds.ac.uk/10.3390/joitmc7010077 - 27 Feb 2021
Cited by 2 | Viewed by 613
Abstract
This article aims to highlight various methods and approaches to grouping countries, according to the behavior of their open innovation indicators. GDP, inflation and unemployment are the most important indicators of the economic and social policies of states, allowing them to be evaluated [...] Read more.
This article aims to highlight various methods and approaches to grouping countries, according to the behavior of their open innovation indicators. GDP, inflation and unemployment are the most important indicators of the economic and social policies of states, allowing them to be evaluated and models built. To find the relationships between open innovation indicators the paper uses marginal analysis and feature reduction, as well as machine learning methods (shift to the mean, agglomerative clustering and random forest methods). The results showed that, after isolating all groups, the importance of the signs was established and the patterns of behavior of indicators for each group were compared and open innovation dynamics was analyzed. The conclusions showed that it is obvious that increasing the number of variables in the model and using more extensive indicators can greatly increase the accuracy, in contrast to the generally accepted simple classifications. This approach makes it possible to more accurately find the connections between sectors of the economy or between state economies in general. An accompanying result of the study was the clarification of the equality of open innovation indicators for the analysis of their interrelationships between countries. Full article
(This article belongs to the Special Issue Financial Open Innovations for Sustainable Economic Growth)
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Article
Factors Affecting Customer Satisfaction and Loyalty in Online Food Delivery Service during the COVID-19 Pandemic: Its Relation with Open Innovation
J. Open Innov. Technol. Mark. Complex. 2021, 7(1), 76; https://0-doi-org.brum.beds.ac.uk/10.3390/joitmc7010076 - 26 Feb 2021
Cited by 8 | Viewed by 7065
Abstract
Online food delivery service (OFDS) has been widely utilized during the new normal of the COVID-19 pandemic, especially in a developing country such as Indonesia. The purpose of this study was to determine factors influencing customer satisfaction and loyalty in OFDS during the [...] Read more.
Online food delivery service (OFDS) has been widely utilized during the new normal of the COVID-19 pandemic, especially in a developing country such as Indonesia. The purpose of this study was to determine factors influencing customer satisfaction and loyalty in OFDS during the new normal of the COVID-19 pandemic in Indonesia by utilizing the extended theory of planned behavior (TPB) approach. A total of 253 respondents voluntarily participated and answered 65 questions. Structural equation modeling (SEM) indicated that hedonic motivation (HM) was found to have the highest effect on customer satisfaction, followed by price (P), information quality (IQ), and promotion (PRO). Interestingly, this study found out that usability factors, such as navigational design (ND) and perceived ease of use (PEOU) were not significant to customer satisfaction and loyalty in OFDS during the new normal of COVID-19. This study can be the theoretical foundation that could be very beneficial for OFDS investors, IT engineers, and even academicians. Finally, this study can be applied and extended to determine factors influencing customer satisfaction and loyalty in OFDS during the new normal of COVID-19 in other countries. Full article
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Article
Strategy and Human Resources Management in Non-Profit Organizations: Its Interaction with Open Innovation
J. Open Innov. Technol. Mark. Complex. 2021, 7(1), 75; https://0-doi-org.brum.beds.ac.uk/10.3390/joitmc7010075 - 25 Feb 2021
Cited by 3 | Viewed by 1049
Abstract
The socioeconomic changes that many countries have been experiencing in recent decades, caused by structural factors or by specific circumstances, where the pandemic crisis of COVID-19 is only the most recent example, have posed challenges to organizations, which present themselves more and more [...] Read more.
The socioeconomic changes that many countries have been experiencing in recent decades, caused by structural factors or by specific circumstances, where the pandemic crisis of COVID-19 is only the most recent example, have posed challenges to organizations, which present themselves more and more and in various forms as threatened by the possibility of fulfilling their mission. Public and private sectors increasingly present themselves as insufficient to respond effectively to day-to-day requests. This context of instability and the resulting impacts for non-profit organizations pose serious problems to the way in which governance is exercised and served as a motivation for carrying out a study that aimed to understand the influence of strategy and human resources on the governance of these organizations. A review of the literature on the variables under study made it possible to identify the sub-dimensions associated with each one of them and the respective indicators. Thus, for a quantitative study, it was possible to apply a questionnaire to 242 Holy Houses of Mercy in Portugal to understand the direct and indirect influences of strategic management and human resources management on the governance of these institutions. The results obtained show the existence of a positive relationship between the variables under analysis, confirming that not only do these variables influence, by themselves and directly, the governance of the institutions studied, but also the strategy influences human resources policies, which in turn have implications for the way the Holy Houses of Mercy deal with aspects associated with governance. It is concluded that, in general, for these organizations to be more effective in efforts to improve their governance processes, they must focus on strategic management and human resources management instruments. Full article
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