Showing papers in "Management Decision in 2021"

Collaboration as an enabler for circular economy: a case study of a developing country

Abstract: Purpose The purpose of this paper is twofold: first, to advance the knowledge of Circular Business Models (BMs) over linear models by focusing on new dynamics which are unique to developing countries and have mostly been overlooked by contemporary literature; and second, to bring to the fore aspects of human-sphere which are currently under-researched in the circular economy (CE) domain. Therefore, the research explores how collaboration can facilitate the transition of a developing country’s economy through the creation of value from circular BMs and human-sphere. Design/methodology/approach To fulfill the research objectives, the authors apply natural resource-based view (NRBV) theory to an in-depth case study. The authors draw the data from semi-structured interviews and observations in North African manufacturing companies. Findings It was found that multi-stakeholder collaboration is pertinent in implementing CE, especially in developing countries. Collaboration between companies, focusing on CE BMs, with other companies/SMEs could lead to technology transfer and organizational learning necessary for resource efficiency (RE) and clean technology (CT) – the basis for CE. The authors propose a model for collaboration as an enabler for CE. Research limitations/implications The analysis found multi-stakeholder collaboration to be an important antecedent to CE implementation in a developing country context. Furthermore, the authors found multinational companies who implement CE BMs generate a beneficial symbiotic relationship with local businesses. These benefits mainly revolve around technology transfer and organizational learning which is necessary for RE and CT – the basis for CE. Therefore, to advance knowledge and practice in this area, the authors propose a model for collaboration as an enabler for CE. Practical implications The authors argue for the importance of collaboration in advancing CE practices which can yield tangible benefits for developing economies. Originality/value This paper helps address the lack of theory driven research in CE. The paper is a pioneer in this research field as it proposes a theoretical framework for collaboration in CE drawing on from NRBV.

Diving into emerging economies bottleneck: Industry 4.0 and implications for circular economy

Abstract: Purpose In this paper, the authors aim to explore the relationship between the concepts of Industry 4.0 and circular economy (CE) as a contribution to the management decision on emerging countries. By analyzing the trends of scientific production to ascertain the interface of both constructs, the purpose of this paper is to identify limitations for Industry 4.0 and CE implementation in Brazil, as well to present an original framework and strategic pathways to overcome limitations for emerging countries. Design/methodology/approach Supported in the Brazilian case, the authors draw a framework using the structuralism approach to indicate pathways for the strategic positioning of emerging economies that consider their limitation and potential for competitive advantage. By understanding country-related limitations such as social and economic contingencies, the authors conceive a structure of implications for Brazil’s capacity to develop CE in the digital era. Findings Results show that Brazil has a reasonable, institutional and stable environment, as well as strong regulatory policies for solid waste that can stimulate CE in the country. However, it requires more communication between actors, especially public and private institutions, performing long-range relationships. Also, the country requires consolidation of industrial policies and investments in the remanufacturing process in the supply chain. Likewise, despite Brazil’s ability to take advantage of CE’s benefits, the country presents a huge lack of qualification to fulfill the competences that the digitization process demands. Economically, Brazil has been fighting against an economic crisis since 2014 that has limited general investments, especially in the industrial sector. Industry presents low performance and decreasing GDP participation, which leads to constant overseas production transfer as a consequence of the workforce’s high costs. Research limitations/implications The authors can affirm that Brazil is far behind developed countries in searching for the capacity to provide CE through technological industrial change. The main problems are related to the lack of articulation of public and private spheres to promote new digital business models. Therefore, the structured framework enables managers and public agents to provide solutions and to properly address supply chain bottlenecks in emerging economies. Originality/value Exploring the relationship between the concepts of Industry 4.0 and CE through the specific lens of the structuralist method, this work can contribute to the management decision on emerging countries, looking into four important perspectives: political, economic, social and technological.

A multi-criteria decision-making framework for agriculture supply chain risk management under a circular economy context

Abstract: The implementation of circular economy strategies is one of the central objectives of several governments seeking a transition toward a sustainable development. Circular economy in agriculture deals with the production of agricultural commodities making an efficient use of resources and avoiding unnecessary waste and carbon emission generation. Disruptions in the production and supply of critical agricultural products can have serious negative repercussions for firms and consumers of the food supply chain. In recent decades, disruptions generated by natural disasters such as hurricanes, thunderstorms and floods have greatly impacted social communities and industrial sectors. Supply chain risks approaches are seen to contribute key elements to address the impacts of natural disaster toward the implementation of circular economy in agriculture, helping to prevent collapses in the production and supply of food. The purpose of this paper is to study and identify flood risk drivers and their effects on the sustainability of an agriculture supply chain in connection with a circular economy strategy. By using an extended Step-wise Weight Assessment Ratio Analysis method combined with a multi-criteria decision analysis, the most essential flood drivers with a degree of importance are reported here. Then, the authors propose an Evaluation of Data based on average ASsessment method, to rank different agricultural projects that pretend to mitigate the flood risks and its impacts on crop areas. The application of this research lies within the framework of a real agricultural project founded by the European Commission Scientific Section, called RUC-APS.,The authors use management science-based tools to address circular economy in agriculture. The authors propose a multi-criteria-based methodology to assess the risks of flooding in crops areas. To validate the proposed methodology, a case example from Spain is discussed to rank different agricultural projects that pretend to mitigate the flood risks and its impacts on crop areas.,The proposed multi-criteria methodology confirmed a successful application to rank different agricultural projects that pretend to mitigate the flood risks and its impacts on crop areas. Organizations and firms in the agricultural business can use the methodology to identify risks drivers and to detect the best projects to mitigate the highest impacts of flooding risks in crops areas.,The authors use supply chain risks approaches to address the impacts of natural disaster on the implementation of circular economy in agriculture. The authors propose a robust multi-criteria-based methodology to assess the risks of flooding in crops areas and we used to determine the best mitigating projects to face flooding risks on crop areas.

Lean Startup: a comprehensive historical review

Abstract: The primary goal of a startup is to find a viable business model that can generate value for its customers while being effectively captured by the startup itself. This business model, however, is not easily defined, being a consequence of the application of tools involving trials, data analyses and testing. The Lean Startup (LS) methodology proposes a process for agile and iterative validation of business models. Given the popularity and importance of such methodology in professional circles, the purpose of this paper is to conduct a historical literature review of existing academic and professional literature, correlating LS concepts and activities to previous theory and alternative business model validation methods.,A historically oriented systematic literature review employing snowball sampling was conducted in order to identify academic and professional literature and references for iterative validation of business models. A total of 12 scholarly journals and professional magazines dealing with strategy, innovation, entrepreneurship, startups and management were used as data sources. The extensive literature review resulted in 963 exploratory readings and 118 papers fully analyzed.,The results position the LS as a practical-oriented and up-to-date implementation of strategies based on the Learning School of strategy making and the effectuation approach to entrepreneurship; the authors also identify a number of methods and tools that can complement the LS principles.,This paper identified and synthesized the scientific, academic and professional foundations that precede, support and complement the main concepts, processes and methods advocated by the LS methodology.

Exploring entrepreneurial characteristics, motivations and behaviours in equity crowdfunding: some evidence from Italy

Abstract: This study explores entrepreneurial decision-making in the equity crowdfunding (ECF) context, and it aims to shed some light on the relationship among three aspects: entrepreneurial characteristics (i.e. entrepreneurial alertness and entrepreneurial self-efficacy), entrepreneurial motivations (i.e. promotion, improvement of networking and acquisition of product and market knowledge) and entrepreneurial behaviours (i.e. campaign characteristics in terms of communication and offerings).,The hypotheses testing and analysis were conducted using the partial least squares approach to structural equation modelling, and data were collected from the overall population of Italian ECF platforms.,Our results highlight that entrepreneurial characteristics may be central in ECF because of their significant impact on some motivation entrepreneurs have to adopt ECF, which in turn have an impact on meaningful campaign characteristics that can influence ECF performance.,The current literature is mainly focused on investors' decisions, while a neglected perspective until now has been that of entrepreneurs. This study is among the first to focus on entrepreneurs in the ECF context, and, to the best of our knowledge, it is the first study to investigate the entrepreneurial decision-making process. The added value of this research lies in the analysis of the entrepreneurial aspects underlying entrepreneurial decisions to use ECF.

Cognitive biases and decision-making strategies in times of change: a systematic literature review

Abstract: In a work environment marked by unprecedented complexity, volatility and ambiguity, managers must accomplish their objectives while navigating many challenges. This paper aims to investigate potential interrelations among environmental transformations, cognitive biases and strategic decisions. In particular, the purpose of the study is to crystallize the state of art on the impact of cognitive biases on strategic decisions, in the context of environmental transformations.,The authors have conducted a systematic literature review to identify existing relevant work on this topic and to detect potential avenues for future research.,The findings highlight how decision-making is influenced and enabled by internal (e.g. perception) and external factors (e.g. digitalization). Specifically, the strategic role of cognitive biases appears to be crucial when investigating the related impact on strategic decisions in times of environmental transformation.,Implications are drawn for scholars and practitioners interested in evaluating the role of specific decision-making determinants for the formation and implementation of strategic decisions. In this sense, we stress that decision-makers need to manage their cognitive biases and select the right information out of a wide data set in order to adapt to environmental transformations.,By systematizing the literature review, potential interrelations among environmental transformations, cognitive biases and strategic decisions are identified. Furthermore, the primary phases that drive the decision-making process are proposed (analysis, decision, onboarding and control).

The role of environmental management control systems for ecological sustainability and sustainable performance

Abstract: The purpose of this study determines how environmental management control system (MCS) packages influence ecological sustainability and sustainable performance through the mediating role of environmental strategies. Furthermore, this applies organizational capabilities as moderating variables between environmental strategies, ecological sustainability and sustainable performance in a sample of 373 construction firms.,The authors apply quantitative questionnaire data from construction firm representatives (from project, sales and construction managers and contract managers, executive directors and engineers) to structural equation modeling and SmartPLS for our analysis.,The results demonstrate that recourse to environmental MCS packages significantly influence ecological sustainability, sustainable performance and environmental strategies. Additionally, environmental strategies and organizational capabilities significantly influence ecological sustainability and sustainable performance. Moreover, environmental strategies mediate between environmental MCS packages, ecological sustainability and sustainable performance. Organizational capabilities significantly moderate the relationship between ecological sustainability and sustainable performance.,This research highlights the issue of how the management of construction organizations deploy environmental MCS packages, organizational capabilities and business strategies to measure ecological sustainability and improve their sustainable performance. This study fills a gap in the literature and facilitates the management of construction organizations in strengthening their internal resources in terms of environmental MCS packages, environmental strategies and organizational capabilities able to help improve their ecological sustainability and sustainable performance.,There are few studies building theoretical frameworks for incorporating environmental MCS packages, organizational capabilities, environmental strategies, ecological sustainability and sustainable performance into a single study. Although the influence of various types of intangible resources on ecological sustainability and sustainable performance receive considerable examination in the literature, there is a dearth of attention paid to understanding the role of environmental MCS packages, environmental strategies and organizational capabilities in determining the ecological sustainability and sustainable performance of construction organizations.

Corporate social responsibility, employee engagement, well-being and the task performance of frontline employees

Abstract: This research examines the role of corporate social responsibility (CSR) in the workplace and its impact on frontline employees’ work-related outcomes. Based on the CSR and human resource management literature, this research formulates and tests a model of perceived management support for CSR, perceived customer support for CSR, work engagement, organization engagement, well-being and task performance, with an emphasis on the moderating role of the importance of CSR to employees.,The survey data were collected from 409 frontline employees of service enterprises, such as hotels, restaurants, travel agencies, airlines, in May and June 2015. The collected data were analyzed with SPSS and AMOS for frequency, reliability, correlation, confirmatory factor analyses and structural equation modeling.,The empirical results indicate that perceived management support for CSR significantly influences work engagement and organization engagement. Perceived customer support for CSR significantly affects work engagement, which increases organization engagement and enhances task performance. Organization engagement has a significant impact on perceived well-being, which, in turn, enhances task performance. Finally, the importance of CSR to employees significantly moderates the path from perceived management support for CSR to organization engagement.,This study formulates a conceptual model focusing on CSR to investigate drivers of well-being and the two aspects of employee engagement in a workplace. This study also considers employees’ perceptions of the importance of CSR as a moderator in the model.

Strategic entrepreneurship: Personal values and characteristics influencing SMEs' decision-making and outcomes. The Gemar Balloons case

Abstract: The purpose of this paper is to explore the characteristics and personal values of a successful entrepreneur in order to understand the quality of such characteristics. Thus, this paper aims to investigate how these characteristics and personal values impact strategic decision-making and outcomes driving the success and growth of small and medium-sized enterprises (SMEs).,The research question is answered through a single case study approach based on the case of the charismatic and flourishing entrepreneur and owner of Gemar Balloons, a balloon-manufacturing company established in the centre of Italy a century ago.,The paper shows how the success of SMEs in a dynamic environment is influenced by the central resource, “the entrepreneur”, whose entrepreneurial mindset, culture and leadership are essential and partially replicable. They allow strategic management to seek opportunities and develop innovation, achieving competitive advantages and creating wealth.,This paper contributes to an understanding of how values and specific personal characteristics establish an entrepreneurial mindset, culture and leadership, and whether and how these factors are exportable and repeatable. In this way, it allows a better understanding of how possible it is to establish an entrepreneurial mindset and culture by working on a younger generation's values and characteristics. Moreover, it explains why and how entrepreneurial SME leaders are best able to make decisions and manage resources strategically to create competitive advantages.,The paper is new because it shows the distinctive values and characteristics influencing the emerging strategic decision-making model and corporate outcomes.

Strategic alliances, exploration and exploitation and their impact on innovation and new product development: the effect of knowledge sharing

Abstract: This study delves in the controversy about the nature and the sign of the effect of strategic alliances and exploration and exploitation capabilities on innovation and new product development. The paper analyses the effects of knowledge sharing and strategic alliances relationships at the firm level. Specifically, we study the influence of strategic alliances relationships in new product development and the mediating role of exploration and exploitation as dynamic capabilities.,This investigation proposes a theoretical model tested using structural equation modeling (SEM). The multigroup analysis was performed to understand the moderating role of. A questionnaire survey was developed to explore the relations between strategic alliances and innovation and new product development variables. For this study, 387 valid questionnaires were collected from a sample of Portugal SME' firms. A 90-item questionnaire was submitted to employees managers of a large number of Portuguese SMEs, which consists to study the relationships among all the variables.,The results show that exists a positive direct influence of strategic alliances on innovation and new product development, and mediating impact the exploration and exploitation by the moderating role of knowledge sharing.,This study has some methodological limitations affecting its potential contributions. A cross-sectional study that captures one image in time and its ability to identify strict causality between variables is limited. Furthermore, the results are based on log collected from a key respondent, rather than broader actual data. The results are restricted to one country, Portugal. Future research should initially target different countries. Such research could then test the generalizability of the results.,To fill this managerial relevance gap, we propose a process model in which the main antecedents of alliance stability will be examined. We argue that an alliance's evolutionary dynamics depend on these factors and variables that the partners must assess and manage over its developmental stages. In this sense, managers have significant scope to influence the ultimate success of strategic alliances. This study highlights the need to actively manage the cooperation – competition (coopetition) tension with the alliance partner and to apply the knowledge acquired from the partner to create new knowledge to enhance innovative performance,This paper contributes to fill the gap between strategic alliances and new product development mediated by exploration and exploitation in the dynamic capabilities view.

The mediating role of blockchain technology in improvement of knowledge sharing for supply chain management

Abstract: Purpose: Sharing knowledge with business partners is a challenging issue as firms need to share their valuable know-how assets with individuals or other companies out of their organizational boundaries. As supply chain management (SCM) deals with various stakeholders, firms face difficulties with privacy and ownership when they share their know-how with suppliers or business partners. This study introduces blockchain technology as a mediator in improving knowledge sharing (KS) practices in supply chains. Design/methodology/approach: The data have been collected from surveys with 116 experts working in blockchain start-ups and organizations, and the authors used structural equation modeling for its analysis. Findings: The results show that two features of blockchain technology, namely transparency and security, have the highest impacts on mediating knowledge sharing impacts on supply chain performance. The authors’ findings also highlight that among the performance metrics of SCM, speed is highly improved when blockchain technology is used for knowledge sharing. Their study provides guidance for managers on how to improve SCM performance through KS, which is empowered by a blockchain system. Originality/value: The authors’ findings help organizations to improve supply chain actions, improve innovation, enhance competitive advantage and increase the speed of relationships in the supply chain. The research also contributes literature by analyzing the key factors showing how knowledge sharing structure may be improved by blockchain technology which would be helpful for both academics and practitioners.

Rethinking risk management in entrepreneurial SMEs: towards the integration with the decision-making process

Abstract: The main purpose of this study is twofold: first, to analyze how risk is considered and managed by entrepreneurial SMEs, where the original founder is still the entrepreneur running the business, and second to understand if risk management is integrated with decision making.,This research is based on a multiple case study. Three entrepreneurial SMEs based in the North-West of Italy were selected to obtain a heterogeneous sample. They operate in the manufacturing sector and they have different size and corporate ownership.,The risk management process cannot be always formalized but an unconscious risk analysis is always carried out. Risk is intertwined with decision and entrepreneurial orientation. Nowadays, rethinking risk management means enhancing and improving the decision-making process and integrating the phases of the two processes by introducing an alternative new model (RM-DM) that stands for “risk management-decision making”.,Conclusions can be generalized at a theoretical level even though this multiple case study represents a contingent analysis.,This research enhances the understanding of the potential benefits for entrepreneurial SME owners of a risk mind-set while making decisions. RM-DM model is an alternative tool to manage risks properly in SMEs, especially when a formalized process is not implemented, as it improves the way decisions are made and introduces a more reasoned approach to manage risks.,This empirical study introduces a unique model (RM-DM) that helps to rethink risk management in entrepreneurial SMEs, by integrating it with the decision making and by proposing an alternative tool to manage risks with a more structured approach.

Corporate social responsibility and firm performance: a theory of dual responsibility

Abstract: The authors aim to develop and test a theory of dual responsibility to explain the relationship between corporate social responsibility (CSR) and firm performance. The authors empirically examine whether firms that meet their economic and social responsibilities simultaneously perform better than firms that fail to do so. In doing so, the authors theoretically extend and empirically test Barney's (2018) call to incorporate the stakeholder perspective with resource-based view (RBV). The authors also examine the moderating effects of firm status on this relationship.,The authors use a longitudinal panel sample of 137 S&P 500 firms and data for the years between 2004 and 2013 collected from multiple data sources. The authors use stochastic frontiers analysis to measure firm capabilities in the areas of R&D, operations and marketing. These capability measures are then used along with CSR measures and a measure of firm status to test the hypotheses of this study. The authors also conducted several robustness checks and various supplementary analyses using different econometrics techniques and different operationalizations of the key variables of interests.,The results show that firm CSR is positively related to firm performance and that the effect of CSR on performance is stronger for firms with higher levels of R&D capability and operational capability. The authors also find support for the three-way interaction between CSR, economic responsibility and firm status, suggesting that firms high in both social and economic responsibilities and status will enjoy the highest levels of performance.,The findings of this study are based on large, publicly listed firms in North America. Therefore, their generalizability to other contexts and other types of firms require additional research. The reliance on KLD measures is also a limitation, especially because they have not reported CSR ratings after 2013.,For practicing managers, the main implication of this study is that an optimal balance between market and nonmarket strategies is key for superior performance.,The continued debate regarding the firm's purpose can be understood by focusing equally on the two main responsibilities of firms: nonsocial responsibility and social responsibility toward all stakeholders.,The study answers the call to incorporate stakeholder theory into the RBV of the firm by highlighting the critical role of firm capabilities in the relationship between CSR and performance. The study also highlights the role that firm status plays in the relationship between market and nonmarket strategies and firm performance.

On the cognitive microfoundations of effectual design: the Situated Function–Behavior–Structure framework

Abstract: PurposeThe purpose of this article is to extend effectuation theory at the front end by building cognitive foundations for the effectual design process.Design/methodology/approachWe adopt an integrative conceptual approach drawing on design cognition theory to explain entrepreneurial cognition.FindingsWe find a significant gap in the entrepreneurial cognition literature with respect to effectuation processes. We thus integrate the Situated Function–Behavior–Structure framework from design theory to elaborate on the cognitive processes of effectuation, specifically with regard to the opportunity development process. This framework describes the cognitive subprocesses by which entrepreneurs means and ends are cyclically (re)formulated over time until a viable “opportunity” emerges, and the venture is formalized, or else, the entrepreneur abandons the venture and exits.”Practical implicationsUnravelling this entrepreneurial design process may facilitate more appropriate and effective design work by entrepreneurs, leading to more successful product designs. It also should facilitate the development of better design techniques and instruction.Originality/valueThis research contributes to new cognitive foundations for effectuation theory and entrepreneurial process research. It better explains how means are transformed into valuable goods over time through an iterative reconsideration of means-ends frameworks. This theoretical elaboration will expectedly facilitate additional research into the iterative cognitive processes of design and enable more formulaic design thinking.

Does underconfidence matter in short-term and long-term investment decisions? Evidence from an emerging market

Abstract: The purpose of this article is to clarify the mechanism by which underconfidence heuristic-driven bias influences the short-term and long-term investment decisions of individual investors, actively trading on the Pakistan Stock Exchange.,Investors' underconfidence has been measured using a questionnaire, comprising numerous items, including indicators of short-term and long-term investment decision. In order to establish the influence of underconfidence on the investment decisions in both the short and long run, a 5-point Likert scale questionnaire has been used to collect data from the sample of 203 investors. The collected data were analyzed using SPSS and AMOS graphics software. Hypotheses were tested using structural equation modeling technique.,This article provides further empirical insights into the relationship between heuristic-driven biases and investment decision-making in the short and long run. The results suggest that underconfidence bias has a markedly negative influence on the short-term and long-term decisions made by investors in developing markets. It means that heuristic-driven biases can impair the quality of both short-term and long-term investment decisions.,This article encourages investors to avoid relying on cognitive heuristics, namely, underconfidence or their feelings when making short-term and long-term investment strategies. It provides awareness and understanding of heuristic-driven biases in investment management, which could be very useful for finance practitioners' such as investor who plays at the stock exchange, a portfolio manager, a financial strategist/advisor in an investment firm, a financial planner, an investment banker, a trader/broker at the stock exchange or a financial analyst. But most importantly, the term also includes all those persons who manage corporate entities and are responsible for making its financial management strategies. They can improve the quality of their decision-making by recognizing their behavioral biases and errors of judgment, to which we are all prone, resulting in more appropriate investment strategies.,The current study is the first to focus on links between underconfidence bias and short-term and long-term investment decision-making. This article enhanced the understanding of the role that heuristic-driven bias plays in the investment management and more importantly, it went some way toward enhancing understanding of behavioral aspects and their influence on the investment decision-making in an emerging market. It also adds to the literature in the area of behavioral finance specifically the role of heuristics in investment strategies; this field is in its initial stage, even in developed countries, while, in developing countries, little work has been done.

Entrepreneurial decisions in tourism and hospitality during crisis

Abstract: The article examines the entrepreneurial decision-making in the Greek tourism and hospitality sector, during a period of an economic crisis. The nationwide study includes the responses of 503 entrepreneurs engaged in the Greek travel, tourism and hospitality industry. The research employs fuzzy-set Qualitative Comparative Analysis (fsQCA), and examines trust, enterprising negotiation power, tourism decision-making considerations, and crisis effects. It also includes the categorical data of operational mode and company type. The analysis has generated three different pathways for entrepreneurial decision-making during crisis in the Greek tourism and hospitality sector. Those pathways are: (i) crisis conditions (ii) enterprising operations and focus, and (iii) enterprising capabilities. Due to the limited employment of fsQCA in the tourism sector, its full potential is still to be explored. The study provides three different pathways that Greek tourism entrepreneurs select for their decision-making, according to the characteristics of their firms and their market orientation. CUST_SOCIAL_IMPLICATIONS_(LIMIT_100_WORDS) :No data available. Theoretically the study contributes by enhancing understanding of entrepreneurial decision-making during periods of crisis. In the methodological domain the research employs fsQCA, which has only recently started to be used in tourism and hospitality, and generally the service sector.

Visual disclosure through integrated reporting

Abstract: PurposeThis study, based on stakeholder theory, aims to analyse the factors that can affect the level of visual disclosure in the context of integrated reporting (IR), which represents the last frontier of corporate disclosure.Design/methodology/approachThis study develops an innovative measure to measure the level of visual disclosure of integrated reports that takes into account the use and degree of integration of images and graphs. Furthermore, to test the hypotheses, this study uses a regression model on a sample of 134 international companies that published an integrated report in 2018.FindingsThe results show that firm size, firm profitability and industry environmental sensitivity positively affect the level of visual disclosure of the integrated reports.Originality/valueTo our knowledge, this is the first study that examines visual disclosure in the IR context. It also extends the field of application of the stakeholder theory, still little used to explain visual disclosure strategies, and increases knowledge on the determinants of IR.

The role of heuristic-driven biases in entrepreneurial strategic decision-making: evidence from an emerging economy

Abstract: This article aims to clarify the mechanism by which heuristic-driven biases influence the entrepreneurial strategic decision-making in an emerging economy.,Entrepreneurs' heuristic-driven biases have been measured using a questionnaire, comprising numerous items, including indicators of entrepreneurial strategic decision-making. To examine the relationship between heuristic-driven biases and entrepreneurial strategic decision-making process, a 5-point Likert scale questionnaire has been used to collect data from the sample of 169 entrepreneurs who operate in small- and medium-sized enterprises (SMEs). The collected data were analyzed using SPSS and Amos graphics software. Hypotheses were tested using structural equation modeling (SEM) technique.,The article provides empirical insights into the relationship between heuristic-driven biases and entrepreneurial strategic decision-making. The results suggest that heuristic-driven biases (anchoring and adjustment, representativeness, availability and overconfidence) have a markedly negative influence on the strategic decisions made by entrepreneurs in emerging markets. It means that heuristic-driven biases can impair the quality of the entrepreneurial strategic decision-making process.,The article encourages entrepreneurs to avoid relying on cognitive heuristics or their feelings when making strategic decisions. It provides awareness and understanding of heuristic-driven biases in entrepreneurial strategic decisions, which could be very useful for business actors such as entrepreneurs, managers and entire organizations. Understanding regarding the role of heuristic-driven biases in entrepreneurial strategic decisions may help entrepreneurs to improve the quality of their decision-making. They can improve the quality of their decision-making by recognizing their behavioral biases and errors of judgment, to which we are all prone, resulting in a more appropriate selection of entrepreneurial opportunities.,The current study is the first to focus on links between heuristic-driven bias and the entrepreneurial strategic decision-making in Pakistan—an emerging economy. This article enhanced the understanding of the role that heuristic-driven bias plays in the entrepreneurial strategic decisions and more importantly, it went some way toward enhancing understanding of behavioral aspects and their influence on entrepreneurial strategic decision-making in an emerging market. It also adds to the literature in the area of entrepreneurial management specifically the role of heuristics in entrepreneurial strategic decision-making; this field is in its initial stage, even in developed countries, while, in developing countries, little work has been done.

Organizational rewards and knowledge hiding: task attributes as contingencies

Abstract: Although scholars have provided sufficient empirical evidence on the effectiveness of organizational rewards in managing knowledge sharing, little attention has been paid to the relationship between organizational rewards and knowledge hiding. Drawing on self-determination theory (SDT), this study aims to investigate the effects of financial and nonfinancial rewards on employees' knowledge-hiding behavior as well as the moderating role of task attributes.,This paper examines the hypotheses by conducting a time-lagged survey from a sample of 186 knowledge workers in Chinese high-tech firms.,The findings of this study reveal that financial rewards are positively associated with knowledge hiding, whereas nonfinancial rewards have a negative effect on knowledge. Moreover, task interdependence significantly moderates the effects of organizational rewards on employees' knowledge-hiding behavior. In addition, the interaction between nonfinancial rewards and task complexity is negatively related to knowledge hiding.,This study is one of the first to investigate the effects of financial rewards and nonfinancial rewards on employees' knowledge-hiding behavior, as well as the moderating roles of task interdependence and task complexity.

A measure of innovation performance: the Innovation Patent Index

Abstract: The measure of companies' Innovation Performance is fundamental for enhancing the value and decision-making processes of firms. The purpose of this paper is to present a new measure of Innovation Performance, called Innovation Patent Index (IPI), which makes it possible to quantitatively summarize different aspects of firms' innovation.,In order to define the IPI, a secondary source, i.e. patent data, has been used. The five dimensions of IPI, i.e. efficiency, time, diversification, quality and internationalization have been defined both analyzing the literature and applying three different machine learning algorithms (regularized least squares, deep neural networks and decision trees), considering patent forward citations as a proxy of the innovation performance.,Results show that the IPI index is a very useful tool, simple to use and very promptly. In fact, it is possible to get important results without making time consuming analysis with primary sources. It is a tool that can be used by managers, businessmen, policymakers, organizations, patent experts and financiers to evaluate and plan future activities, to enhance the innovation capability, to find financing and to support and improve innovation.,Patent data are not widely used in all the sectors. Moreover, the pure number of forward citations is not the only forward looking indicator suggested by the literature.,The demand for a useable Innovation Performance tool, as well as the lack of tools able to grasp different aspects of the innovation, highlight the need to develop new instruments. In fact, although previous studies provide several measures of Innovation Performance, these are often difficult for managers to use, do not appreciate different aspects of the innovation and are not forward looking.

Entrepreneurial passion, orientation and behavior: the moderating role of linear and nonlinear thinking styles

Abstract: The purpose of this paper is to unpack the underlying mechanisms of entrepreneurs' passion, orientation and behavior by investigating the role of rational and nonrational cognitive elements. Building on dual process theory and sociointuitionism, a conceptual model is proposed in order to explore the relationship between entrepreneurial passion, entrepreneurial orientation (EO) and strategic entrepreneurship behavior (SEB). Specifically, entrepreneurs' linear thinking styles (System 2) and nonlinear thinking styles (System 1) are hypothesized as being significant moderators of such a relationship.,Covariance-based structural equation modeling (CB-SEM) is used to empirically validate the proposed conceptual model and test the moderating hypotheses on a sample of 300 entrepreneurs actively involved in European small and medium enterprises (SMEs).,Entrepreneurial passion is shown to be a significant antecedent of EO, which, in turn, strongly influences SEB. Moreover, entrepreneurs' linear thinking style positively moderates the EO-SEB relationship, but not the link between passion and EO. Instead, a nonlinear thinking style positively moderates the relationship between passion and EO, but not the links between EO and SEB.,Entrepreneurs should trust their nonlinear thinking style – related to affective/emotive and intuitive information processing systems – to foster the effect of their entrepreneurial passion on EO. Furthermore, entrepreneurs should rely on a linear thinking style, namely the rational and deliberative cognitive processes, to enhance the impact of their EO on SEB.,Dual process theory and sociointuitionism are integrated to simultaneously investigate the effect of nonrational and rational cognitive mechanisms on entrepreneurs' orientation and behavior. Moreover, the proposed model is empirically tested on a sample of entrepreneurs working in SMEs located in Europe, which have received little attention from entrepreneurship scholars in comparison to their US counterparts. The authors’ findings suggest important implications for entrepreneurs, policymakers and entrepreneurial universities educators.

Authentic leadership and meaningfulness at work: Role of employees' CSR perceptions and evaluations

Abstract: This study aims to examine whether, how, and when authentic leadership shapes followers' perceptions of meaningfulness at work. Using authentic leadership theory, we posit that authentic leadership leads to more favorable perceptions of Corporate Social Responsibility (CSR), which, in turn, results in enhanced experiences of meaningfulness at work. In addition to studying authentic leadership as a driver of CSR perceptions, and hence meaningfulness, we also examine if followers' attributions of self-centered motives to organizational engagement in CSR moderates the above relationship.,In all, 368 employees from Indian IT industry participated in the survey. Data were analyzed using Process (Hayes 2013) in SPSS.,Results supported the hypothesized moderated mediation model by revealing that attribution of self-centered motives undermines the positive impact of authentic leadership on CSR perceptions, and, subsequently, meaningfulness.,By presenting CSR as a source of meaningfulness at work, this study establishes CSR as an important tool for fostering employee well-being. The internal corporate communication should emphasize how CSR activities of the organization represent core organizational values and organization’s genuine concern for the society.,The study adds to the leadership literature and integrates it with a divergent discipline of CSR by signifying the role of authentic leadership in the CSR process. By presenting a refined analysis of CSR in a developing country, this research expands the understanding of the expression of CSR in markets outside the developed core.

Strategic visualization: the (real) usefulness of cognitive mapping in smart city conceptualization

Abstract: PurposeThe concept of smart city has recently become more topical in academic and policy discussions. This idea is considered a complex, non-consensual subject since its definition has not yet been agreed upon by most authors in the relevant fields. The need to identify and measure smart city indicators has also given rise to many different evaluation procedures. However, the available frameworks have yet to overcome challenges in structuring and measuring all the evaluation parameters of the cities in question. Thus, methods still need to be developed and applied that can structure criteria used to assess smart city success.Design/methodology/approachThis study sought to show cognitive mapping's tangible usefulness as an expedient tool for strategic analysis, using smart cities as a complex object of study. To this end, various cognitive maps were constructed and compared using the Strategic Options Development and Analysis (SODA) approach.FindingsCognitive mapping's advantages and limitations in the strategic visualization research context are analyzed and discussed.Originality/valueThe authors know of no prior work reporting comparative analysis of this methodological approach in the same research context.

An integrated framework for service quality, choice overload, customer involvement and satisfaction: Evidence from India’s non-life insurance sector

Abstract: Consumer behavior, in the context of general insurance, is worth exploring to formulate growth strategies for insurance sector in India in light of the proposed structural changes. Indian consumers attract global players due to untapped potential and favorable policy measures initiated for higher foreign direct investments. The purpose of this paper is to understand the prevailing level of service quality as perceived by insurance customers in India in the presence of certain contextual antecedents and moderators.,Perceptions about constructs like customer risk dispositions, awareness, past experiences, customer involvement, choice overload, service quality and satisfaction of 256 customers were collected using a questionnaire survey. A variance-based structural equation modeling helped to identify significant linkages among the constructs.,In order to assess service quality levels, a 15-item scale having the infrastructure, employees, agents and product dimensions was found valid and reliable. Choice overload and customer involvement were found to moderate the influence of antecedents and service quality, respectively. The influence of choice overload on quality perceptions is insignificant. The study concludes that the existing risk beliefs are insufficient, and experiences have less predictive contribution to quality perceptions.,Theoretically, this study examined the process of satisfaction development from service quality perceptions. This study offers insights for developing theories to portray future consumer behavior where more dependence of self-service technologies is expected to dominate service delivery mechanisms in insurance. The study informs that general insurance customers in India prefer more diversified products, more customer-centric employees/agents and better technical quality.,The findings of this study contribute to the understanding of the prevailing insurance consumer behavior in the general insurance sector of India and help insurance service providers in streamlining their strategies for better insurance penetration and reduced lapse rate.,This study helps in understanding the emerging trends in general insurance buying behavior in India.

Diversity and future of work: inequality abound or opportunities for all?

Abstract: The purpose of this paper is to examine new directions for diversity scholarship in the context of future of work or advanced technological shifts that are impacting organizations and society. It proposes that both new opportunities and challenges are likely to emerge for individuals and offers considerations around ethics, inequalities and global dimensions as relevant conversations within this domain.,The paper provides an overview of new technological advances in the domains of artificial intelligence, automation and the gig economy. It then layers considerations related to diversity within this context, focusing on issues of relevance to mainstream, critical and transnational traditions within diversity scholarship.,It is likely that technological shifts will impact several domains of diversity scholarship including how we define “diversity,” and the value and appropriateness of using advanced technologies to replace certain jobs that are predominantly held by underrepresented groups. Furthermore, the paper outlines ways in which bias, ethical considerations and emergent digital inequalities will become important conversations within diversity research in the context of future of work.,This paper brings together diversity scholarship and future of work conversations in assessing the ways such research and trends will intersect and provides insights about future directions that diversity-focused research should take to address and understand the consequences of rapid technological advances for inclusion.

Business model innovation, legitimacy and performance: social enterprises in China

Abstract: Social enterprises pursue growth through business model innovation, and acquiring legitimacy is critical to ensuring such innovation. The purpose of this paper is to examine how business model innovation and legitimacy affect the performance of new social enterprises during different development stages.,This paper uses the hierarchical regression analysis and fuzzy-set qualitative comparative analysis (fsQCA) to examine social enterprise performance and constructs and verifies a moderated mediation effect of business model innovation, based on a survey of 183 new social enterprises in China.,This paper finds that business model innovation has a positive effect on social enterprise performance and an organization's legitimacy, acting as the partial mediator between them. The mediating effect of legitimacy is more positive when social enterprises are in the early growth stage. A more detailed analysis of fsQCA explores the necessary and sufficient conditions for the growth of social enterprise performance across different stages and reveals five configurations that improve the performance of social enterprises.,This study explores the role of business model innovation and legitimacy in social enterprise growth and provides empirical evidence about the causal configuration of high-performing social enterprises.,This research clarifies two antecedents of social enterprise performance and proposes a more inclusive framework that addresses the factor of dynamic development stages. This paper deepens the understanding of social enterprise performance in China.

Competitive advantage of data-driven analytical capabilities: the role of big data visualization and of organizational agility

Abstract: PurposeIn the digital age, the use of data and analytical capabilities to guide business decisions and operations plays a strategic role for organizations to gain competitive advantage (CA). However, the paths by which analytical capabilities convey their effect to CA are not yet fully known and few studies address the role of behavioral and cultural aspects of related of analytical capabilities. The purpose of this paper is to analyze how data-driven culture (DDC) and business analytics (BA) affect CA, considering the mediating effects of big data visualization (BDV) and organizational agility (OA).Design/methodology/approachA survey was conducted with 173 managers who are BDV and BA users in Brazilian organizations of various economic segments. The data were analyzed through structural equation modeling and mediation tests.FindingsThe evidence indicates that DDC and BDV are antecedents of BA. The following complementary mediations were discovered: BDV in the relationship between DDC and BA; BA in the relationship between DDC and CA; and OA in the relationship between BA and CA. It was also discovered that OA explains the transmission of most of the effect of BA to CA.Practical implicationsThis study can help organizations to understand the importance of cultural and behavioral aspects related to the use of the analytical capabilities. Thereby, managers can establish policies and strategies to extract value from data and leverage business agility and competitiveness through use BDV and BA.Originality/valueThis study fills an important research gap by developing an original research model and discussing empirical evidence on how DDC and BA affect CA, considering the mediating effects of BDV and OA.

Sharing achievement and social entrepreneurial intention: The role of perceived social worth and social entrepreneurial self-efficacy

Abstract: PurposeThis study explores the influence of sharing achievement (i.e. sustainability, enjoyment, and economic benefits) obtained by participating in the sharing economy on social entrepreneurial intention (SEI), as well as the role of perceived social worth and social entrepreneurial self-efficacy (SESE).Design/methodology/approachThis study used multiple regression analysis on a sample of 331 MBA students aged between 24 and 48 years.FindingsThe findings indicate that sharing achievement is positively related with SEI, and perceived social worth mediates the relationship between them. Moreover, SESE not only has a moderating effect on the relationship between perceived social worth and SEI but also positively moderates the overall mediation model.Practical implicationsEntrepreneurship educators could focus on improving students' SESE through courses and training. Whereas, policymakers and decision makers should actively promote the sharing economy model and regulate its management. Moreover, existing organizers of the sharing economy should improve participants' sharing achievement.Originality/valueThis study determines the relationship between sharing achievement and SEI and enriches the push/pull theory from the perspective of pull factors in the context of the sharing economy. Moreover, by exploring the mediating effect of perceived social worth and the moderating effect of SESE, the study provides understanding on the influence mechanisms of sharing achievements on SEI.

Pandemic vulnerability knowledge visualisation for strategic decision-making: a COVID-19 index for government response in Australia

Abstract: Purpose: First, the key vulnerability factors from the literature are identified. Second, using the vulnerability factors as indicators, a composite index is developed. Last, from the index values, a set of vulnerability knowledge maps, showing the vulnerability hotspots, are prepared. Design/methodology/approach: This study aims to develop a pandemic vulnerability knowledge visualisation index to support the strategic decision-making efforts of authorities. Findings: Ten indicators are identified as vulnerability factors that could significantly impact the virus spread risks. Verifying the identified hotspots against the recorded infected cases and deaths has evidenced the usefulness of the index. Determining and visualising the high-vulnerability locations and communities could help in informed strategic decision-making and responses of the authorities to the pandemic. Originality/value: The study demonstrates that the developed pandemic vulnerability knowledge visualisation index is particularly appropriate in the context of Australia. Nonetheless, by replicating the methodologic steps of the study, customised versions can be developed for other country contexts. © 2021, Emerald Publishing Limited.

Disruptive innovation, business model and sharing economy: the bike-sharing cases in China

Abstract: The purpose of this study is to connect disruptive innovation and sharing economy by exploring the underlying mechanisms of how a disruptive innovation–based business project creates, delivers and captures value in sharing economy through analyzing the case of bike sharing in China.,An elaborate case study is used to unfold the process as well as the underlying mechanism and relationships among disruptive innovation, business model, bike-sharing business and value creation in sharing economy.,Bike sharing case fits well in disruptive innovation theory. Its low price and great convenience have led to rapid development in China. However, failures to improve their products and services and build an effective business model which can create, deliver and capture value have caused the failure of many bike-sharing companies. Other factors such as strategic decision-making, internal management problems, external conflicts as well as uncivilized consumer behaviors have also inhibited the sustainable development of bike-sharing companies.,The theoretical contributions of this study include the following: to explore how a disruptive innovation–based business creates, delivers and captures value successfully in sharing economy. This study contributes to both research and practice on disruptive innovation and sharing economy.