Search results for: competitiveness of innovation

Authors: Khalid Yousuf Ahmed

Abstract:

At the beginning of growth period, East Asian countries achieved impressive economic growth for the decades. They transformed from agricultural economy toward industrialization and contributed to dynamic structural transformation. The achievements were driven by government-led development policies that implemented effective innovation policy to boost technological capability of local firms. Recently, most Sub-Saharan African have been showing sustainable growth. Exceptionally, Ethiopia has been recording double-digit growth for a decade. Hence, Ethiopia has claimed to follow the footstep of East Asia development model. The study is going to examine whether Ethiopia can replicate innovation and economic growth model of East Asia by using Japan, Taiwan, South Korea and China as a case to illustrate their model of growth. This research will be based on empirical data gathering and extended theory of national innovation system and economic growth theory. Moreover, the methodology is based on Knowledge Assessment Methodology (KAM) and also employing cross-countries regression analysis. The results explained that there is a significant relationship between innovation indicators and economic growth in East Asian countries while the relationship is non-existing for Ethiopia except implementing similar policies and achieving similar growth trend. Therefore, Ethiopia needs to introduce inclusive policies that give priority to improving human capital and invest on the knowledge-based economy to replicate East Asian Model.

Keywords: economic growth, FDI, endogenous growth theory, East Asia model

Procedia PDF Downloads 275

Authors: Stephen Oduro

Abstract:

With a quantitative research design, this study seeks to analyze how, an intangible resource, Organisational Unlearning shapes the relationship between Entrepreneurial Orientation (EO) and Innovation Outcomes among social entrepreneurship organizations in Ghana. The Resource-Based View (RBV) of the firm and EO-Performance Contingency framework was adopted as the underpinning theories of the study. Entrepreneurial Orientation dimensions, namely Innovativeness, Autonomy, Risk-Taking, Proactiveness, and Competitive aggressiveness were examined to determine its significant, direct influence on the Innovation Outcomes of the social enterprises in Ghana. Organizational Unlearning dimensions, specifically examination of lens fitting, the consolidation of emergent understandings, and framework for changing individual habits were explored to determine whether they strengthen or weaken the direct nexus between Entrepreneurial Orientation dimensions and Innovation Outcomes. A self-administered questionnaire was administered to 556 targeted social enterprises across Africa through online questionnaire platform and the data generated and proposed hypotheses were analyzed and tested using Structural Equation Model-Partial Least Square (SEM-PLS 3) statistical tool. The findings revealed that EO dimensions, specifically proactiveness, autonomy, innovativeness, and risk-taking are positively related to IO, but we found no significant support for competitive aggressiveness. The findings, moreover, divulged that the positive, direct relationship between EO and IO is highly strengthened by OU. It is concluded that OU fully moderates the direct link between EO and IO. The present study contributes to the our understanding of the interrelationship among Entrepreneurial Orientation, Organizational Unlearning, and Innovation Outcomes in the social entrepreneurship context.

Keywords: entrepreneurial orientation, innovation outcomes, organizational unlearning, RBV, SEM-PLS, social enterprise, Africa

Procedia PDF Downloads 140

Authors: Yi Wang, Greg Hearn, Terry Flew

Abstract:

In order to understand how cultural innovation occurs, this paper explores the interaction in Shenzhen of China between universities, creative industries, and government in creative economic using the Triple Helix framework. During the past two decades, Triple Helix has been recognized as a new theory of innovation to inform and guide policy-making in national and regional development. Universities and governments around the world, especially in developing countries, have taken actions to strengthen connections with creative industries to develop regional economies. To date research based on the Triple Helix model has focused primarily on Science and Technology collaborations, largely ignoring other fields. Hence, there is an opportunity for work to be done in seeking to better understand how the Triple Helix framework might apply in the field of creative industries and what knowledge might be gleaned from such an undertaking. Since the late 1990s, the concept of ‘creative industries’ has been introduced as policy and academic discourse. The development of creative industries policy by city agencies has improved city wealth creation and economic capital. It claims to generate a ‘new economy’ of enterprise dynamics and activities for urban renewal through the arts and digital media, via knowledge transfer in knowledge-based economies. Creative industries also involve commercial inputs to the creative economy, to dynamically reshape the city into an innovative culture. In particular, this paper will concentrate on creative spaces (incubators, digital tech parks, maker spaces, art hubs) where academic, industry and government interact. China has sought to enhance the brand of their manufacturing industry in cultural policy. It aims to transfer the image of ‘Made in China’ to ‘Created in China’ as well as to give Chinese brands more international competitiveness in a global economy. Shenzhen is a notable example in China as an international knowledge-based city following this path. In 2009, the Shenzhen Municipal Government proposed the city slogan ‘Build a Leading Cultural City”’ to show the ambition of government’s strong will to develop Shenzhen’s cultural capacity and creativity. The vision of Shenzhen is to become a cultural innovation center, a regional cultural center and an international cultural city. However, there has been a lack of attention to the triple helix interactions in the creative industries in China. In particular, there is limited knowledge about how interactions in creative spaces co-location within triple helix networks significantly influence city based innovation. That is, the roles of participating institutions need to be better understood. Thus, this paper discusses the interplay between university, creative industries and government in Shenzhen. Secondary analysis and documentary analysis will be used as methods in an effort to practically ground and illustrate this theoretical framework. Furthermore, this paper explores how are creative spaces being used to implement Triple Helix in creative industries. In particular, the new combination of resources generated from the synthesized consolidation and interactions through the institutions. This study will thus provide an innovative lens to understand the components, relationships and functions that exist within creative spaces by applying Triple Helix framework to the creative industries.

Keywords: cultural policy, creative industries, creative city, triple Helix

Procedia PDF Downloads 206

Authors: Shui Lien Chen, Chen-Yin Kuo

Abstract:

U-computing use has brings many new services of commerce, which could provide a new experience for customer. Location Based Services (LBS) is one of U-computing service. With increase of the smartphone and mobile internet users, there are many small and medium-sized enterprises (SMEs) take LBS in marketing strategy in Taiwan. For example, they would provide Facebook check-in to get a benefit (e.g. discount, free dessert and coupon) to attract customers purchasing. Therefore, this study is to understand which factors would affect SMEs adoption of u-computing and the performances after adopt U-computing. This study collected 187 useful data that were analyzed by SmartPLS 2.0 software. The results of this study are as follows. First, entrepreneurial orientation and market orientation positively affects innovation. Second, business resources and innovation positively affect u-computing use. Finally, U-computing positively affects both business value and customer value.

Keywords: entrepreneurial orientation, market orientation, innovation, business resources, u-computing use, LBS

Procedia PDF Downloads 592

Authors: Ju Shan Lin

Abstract:

The challenges for traditional industries in Taiwan the past few years are the changes of overall domestic and foreign industry structure, the entrepreneurs not only need to keep on improving their profession skills but also continuously research and develop new products. It is also necessary for the all traditional industries to keep updating the business strategy, let the enterprises continue to progress, and won't be easily replaced by the other industries. The traditional industry in Taiwan attach great importance to the field of enterprises upgrading and innovation in recent years, by the enterprise innovation and transformation can enhance the overall business situation also enable them to obtain more additional profits than in the past. Except the original industry structure's need to transform and upgrade, the brand's business and marketing strategy are also essential. This study will take a certain plastic company as case analysis, for the brand promotion of traditional industries, brand values and business innovation model for further exploration. It will also be mentioned that the other traditional industries cases which were already achieved success on the enterprise's upgrading and innovation, at the same time, the difficulties which they faced with and the way they overcome will be explored as well. This study will use the case study method combined with expert interviews to discuss and analyze this certain plastic company's current business situation, the existing products and the possible trends in the future. Looking forward to providing an innovative business model that will enable this plastic company to upgrade its corporate image and the brand could transform successfully.

Keywords: brand marketing strategy, enterprise upgrade, industrial transformation, traditional industry

Procedia PDF Downloads 239

Authors: Rasim M. Alguliyev, Alovsat G. Aliyev, Roza O. Shahverdiyeva

Abstract:

The paper investigated the role and position of high techno-parks, which is one of the priorities of Azerbaijan. The main objectives, functions and features of the establishment of high-techno parks, as well as organization of the activity of the structural elements, which are the parking complex and their interactions were analyzed. The development, organization and management of high techno-parks were studied. The key features and functions of innovative structures’ management were explained. The need for a comprehensive management system for the development of high-techno parks was emphasized and the major problems were analyzed. In addition, the methods were proposed for the development of information systems supporting decision making in systematic and sustainable management of the parks.

Keywords: innovative development, innovation processes, innovation economy, innovation infrastructure, high technology park, efficient management, management decisions, information insurance

Procedia PDF Downloads 472

Authors: Gabriela Teodorescu, Ioana Daniela Dulama

Abstract:

In an ever-changing society, the education system needs to constantly evolve to meet market demands. During its 30 years of existence, Valahia University of Targoviste (VUT) tried to offer its students a series of teaching-learning schemes that would prepare them for a remarkable career. In VUT, the achievement of performance through innovation can be analyzed by reference to several key indicators (i.e., university climate, university resources, and innovative methods applied to classes), but it is possible to differentiate between activities in the classic format: participate to courses; interactive seminars and tutorials; laboratories, workshops, project-based learning; entrepreneurial activities, through simulated enterprises; mentoring activities. Thus, VUT has implemented over time a series of schemes and projects based on innovation and entrepreneurship, and in this paper, some of them will be briefly presented. All these schemes were implemented by facilitating an effective dialog with students and the opportunity to listen to their views at all levels of the University and in all fields of study, as well as by developing a partnership with students to set out priority areas. VUT demonstrates innovation and entrepreneurial capacity through its new activities for higher education, which will attract more partnerships and projects dedicated to students.

Keywords: Romania, project-based learning, entrepreneurial activities, simulated enterprises

Procedia PDF Downloads 162

Authors: Khin Khin Thant Sin

Abstract:

This study is a case study which investigates successful and ongoing bottom-up innovations for school improvement initiatives in Hungary. Two innovative schools are selected in this study due to their outstanding achievement during the past ten years in Hungary. In one school, data from the personal experiences of a school principal who initiated the bottom-up innovation are included. For the second school, three interviews were carried out with two schoolteachers and one secondary school student. In addition, desk research, including the principal’s published articles, the schoolteachers’ master thesis, the school websites, and other published articles, are analysed to explore the schools’ innovative processes. This study investigates how bottom-up innovation led to major achievements in student learning, teacher professional development, networking and collaboration with other schools, and the establishment of successful partnerships with universities. The highlight of this study is how innovative schools can be the major sources promoting educational innovations as well as improving teacher education, especially in initial teacher education and continuous professional development.

Keywords: school innovation, teacher education, hungary, educational innovation, school improvement

Procedia PDF Downloads 109

Authors: Arnaud Deshais

Abstract:

The supply chain industry has integrated the need for supplier Diversity and Inclusion (D&I), mostly from an ethical and moral argument. In addition, in some countries, it is also a legal requirement for companies reaching a certain size. As a matter of fact, a lot of successful companies have developed a Corporate Social Responsibility Program that encourages diversity and inclusion in the supply chain, such as building strong relationships with minority owned businesses (women, LGBT, veterans, etc.). Outside ethical and legal perspectives, it is also worth researching the economic and financial benefits of pursuing such efforts. Through surveys of purchasing and supply chain managers in their current roles as well as review of some case studies on supplier based D&I programs, it becomes apparent that a financial return on investment is to be expected as well for companies who make a concerted effort to grow their D&I programs. The study explores the levers to increase shareholder value and business efficiencies. Finally, the research highlights the competitive advantage related to a broad minority based supplier network. The benefits manifest themselves in the areas of competitiveness, innovation, and collaboration. The economic reward ends up being at the forefront of those programs while being an opportunity for organizations to become 'a good citizen'.

Keywords: diversity, inclusion, purchasing, supplier

Procedia PDF Downloads 123

Authors: Odirachukwu S. Mwim, Tana Pistorius

Abstract:

Since the early 1990s political and economic pressures have been mounted on policy and law makers to increase patent protection by raising the protection standards. The perception of the relation between patent protection and development, particularly economic development, has evolved significantly in the past few years. Debate on patent protection in the international arena has been significantly influenced by the perception that there is a strong link between patent protection and economic development. The level of patent protection determines the extent of development that can be achieved. Recently there has been a paradigm shift with a lot of emphasis on extending patent protection to method of doing business generally referred to as Business Method Patenting (BMP). The general perception among international organizations and the private sectors also indicates that there is a strong correlation between BMP protection and economic growth. There are two diametrically opposing views as regards the relation between Intellectual Property (IP) protection and development and innovation. One school of thought promotes the view that IP protection improves economic development through stimulation of innovation and creativity. The other school advances the view that IP protection is unnecessary for stimulation of innovation and creativity and is in fact a hindrance to open access to resources and information required for innovative and creative modalities. Therefore, different theories and policies attach different levels of protection to BMP which have specific implications for economic growth. This study examines the impact of BMP protection on development by focusing on the challenges confronting economic growth in African communities as a result of the new paradigm in patent law. (Africa is used as a single unit in this study but this should not be construed as African homogeneity. Rather, the views advanced in this study are used to address the common challenges facing many communities in Africa). The study reviews (from the point of views of legal philosophers, policy makers and decisions of competent courts) the relevant literature, patent legislation particularly the International Treaty, policies and legal judgments. Findings from this study suggest that over and above the various criticisms levelled against the extreme liberal approach to the recognition of business methods as patentable subject matter, there are other specific implications that are associated with such approach. The most critical implication of extending patent protection to business methods is the locking-up of knowledge which may hamper human development in general and economic development in particular. Locking up knowledge necessary for economic advancement and competitiveness may have a negative effect on economic growth by promoting economic exclusion, particularly in African communities. This study suggests that knowledge of BMP within the African context and the extent of protection linked to it is crucial in achieving a sustainable economic growth in Africa. It also suggests that a balance is struck between the two diametrically opposing views.

Keywords: Africa, business method patenting, economic growth, intellectual property, patent protection

Procedia PDF Downloads 126

Authors: E. Loffi Borghese

Abstract:

In this comprehensive study, we delve into the intricate dynamics of the big tech oligopoly, focusing particularly on Apple as a case study. The core objective is to scrutinize the evolving relationship between a firm's commitment to positive social impact as its primary purpose and its resilience in the face of disruptive innovations within the big tech market. Our exploration begins with a theoretical framework, emphasizing the significance of distinguishing between corporate social responsibility and social impact as a primary purpose. Drawing on insights from Drumwright and Bartkus and Glassman, we underscore the transformative potential when a firm aligns its core business with a social mission, transcending mere side activities. Examining successful firms, such as Apple, we adopt Sinek's perspective on inspirational leadership and the "golden circle." This framework sheds light on why some organizations, like Apple, succeed in making positive social impact their primary purpose. Apple's early-stage life cycle is dissected, revealing a profound commitment to challenging the status quo and promoting simpler alternatives that resonate with its users' lives. The study then navigates through industry life cycles, drawing on Klepper's stages and Christensen's disruptive innovations. Apple's dominance in the big tech oligopoly is contrasted with companies like Harley Davidson and Polaroid, illustrating the consequences of failing to adapt to disruptive innovations. The data and methods employed encompass a qualitative approach, leveraging sources like ECB, Forbes, World in Data, and scientific articles. A secondary data analysis probes Apple's market evolution within the big tech oligopoly, emphasizing the shifts in market context and innovation trends that demand strategic adaptations. The subsequent sections scrutinize Apple's present innovation strategies, highlighting its diversified product portfolio and intensified focus on big data. We examine the implications of these shifts on Apple's capacity to maintain positive social impact as its primary purpose, pondering potential consequences on its brand perception. The study culminates in a reflection on the broader implications of the big tech oligopoly's dominance. It contemplates the diminishing competitiveness in the market and the potential sidelining of positive social impact as a competitive advantage. The expansion of tech firms into diverse sectors raises concerns about negative societal impacts, prompting a call for increased regulatory attention and awareness. In conclusion, this research serves as a catalyst for heightened awareness and discussion on the intricate interplay between firms' social impact goals, disruptive innovations, and the broader societal implications within the evolving landscape of the big tech oligopoly. Despite limitations, this study aims to stimulate further research, urging a conscious and responsible approach to shaping the future economic system.

Keywords: innovation trends, market dynamics, social impact, tech oligopoly

Procedia PDF Downloads 74

Authors: Kapil Khanna, Swee Kuik, Joowon Ban

Abstract:

The current linear economic system is unsustainable due to its dependence on the uncontrolled exploitation of diminishing natural resources. The integration of business innovation and supply chain management has brought about the redesign of business processes through the implementation of a closed-loop approach. The circular economy (CE) offers a sustainable solution to improve business opportunities in the near future by following the principles of rejuvenation and reuse inspired by nature. Those business owners start to rethink and consider using waste as raw material to make new products for consumers. The implementation of CE helps organisations to incorporate new strategic plans for decreasing the use of virgin materials and nature resources. Supply chain partners that are geographically dispersed rely heavily on innovative approaches to support supply chain management. Presently, numerous studies have attempted to establish the concept of supply chain management (SCM) by integrating CE principles, which are commonly denoted as circular SCM. While many scholars have recognised the challenges of transitioning to CE, there is still a lack of consensus on business best practices that can facilitate companies in embracing CE across the supply chain. Hence, this paper strives to scrutinize the SCM practices utilised for CE, identify the obstacles, and recommend best practices that can enhance a company's ability to incorporate CE principles toward business innovation and supply chain performance. Further, the paper proposes future research in the field of using specific technologies such as artificial intelligence, Internet of Things, and blockchain as business innovation tools for supply chain management and CE adoption.

Keywords: business innovation, challenges, circular supply chain, supply chain management, technology

Procedia PDF Downloads 98

Authors: Eleftheria Atta, Yianna Vovides, Marios Katsioloudes

Abstract:

In the fusion of neoliberalism and globalization, Higher Education (HE) is becoming increasingly complex. The changing patterns of the economy worldwide caused the development of high value-added economy HE has been viewed as a social investment, significant for the development of knowledge-based societies and economies. In order to contribute to economic competitiveness universities are required to produce local and employable workers in order to fit into the neoliberal economic environment. The emergence of neoliberal performativity, which measures outcomes, is a key aspect in a neoliberal era. It facilitates the redesign of institutions making organizations and individuals to think about themselves in relation to their performance. Performativity and performance management systems lead academics to become more effective, professionally advance, improve and become better than others and therefore act competitively. Besides the aforementioned complexities, universities also encounter the challenge of maintaining a set of values to guide an institution’s actions and which have always been highly respected in developing a HE institution. The formulation of a clear set of values also determines the institutional culture which will be maintained. It is evident that values create a significant framework for the workplace and may determine positive institutional results. Universities are required to engage in activities for capacity building which will improve their students’ competence as well as offer opportunities to administrative and academic staff to professionally develop in light of neoliberal performativity. Additionally, the University is now considered as an innovation ecosystem playing a significant role in providing education, research and innovation to help create solutions to meet social, environmental and economic challenges. Thus, Universities become central in orchestrating multi-actor innovation networks. This presentation will discuss the establishment of an institutional unit entitled ‘Human Development Unit’ (HDU) in a European start-up university. The activities of the HDU are envisioned as drivers for innovation that would enable the university as a whole to maintain its position in a fast-changing world and be ready to face adaptive challenges. In addition, the HDU provides its students, staff, and faculty with opportunities to advance their academic and professional development through engagement in programs that align with institutional values. It also serves as a connector with the broader community. The presentation will highlight the functions of three centers which the unit will coordinate namely, the Student Development Center (SDC), the Faculty & Staff Development Center (FSDC) and the Continuing Education Center (CEC). The presentation aligns with the aim of the conference as it welcomes presentations to discuss innovations and challenges encountered in HE. Particularly, this presentation seeks to discuss the establishment of an innovative unit at a start-up university which will contribute to creating an institutional culture shaped by the value of academic excellence for students as well as for staff, shaping and defining the functions and activities of the unit. The establishment of the proposed unit is crucial in a start-up university both to differentiate from other competitors but also to sustain its presence given the pressures in a neoliberal HE context.

Keywords: academic excellence, globalization, human development unit, neoliberalism

Procedia PDF Downloads 143

Authors: Xavier Everaert

Abstract:

Ever since the publication of “The Problem of Social” cost, Coasean insights on externalities, transaction costs, and the reciprocal nature of harms, have been widely debated. What has been largely neglected however, is the role of technological innovation in the mitigation of negative externalities or transaction costs. Incorporating future uncertainty about negligence standards or expected restitution costs and the profit opportunities these uncertainties reveal to entrepreneurs, allow us to frame problems regarding social costs within the reality of rapid technological evolution.

Keywords: environmental law and economics, entrepreneurship, commons, pollution, wildlife

Procedia PDF Downloads 421

Authors: Julio Macedo

Abstract:

Several methodologies are now available to conceive the improvements of a process so that it becomes competitive as for example total quality, process reengineering, six sigma, define measure analysis improvement control method. These improvements are of different nature and can be external to the process represented by an optimization model or a discrete simulation model. In addition, the process stakeholders are several and have different desired performances for the process. Hence, the methodologies above do not have a tool to aid in the conception of the required improvements. In order to fill this void we suggest the use of intelligent reference models. A reference model is a set of qualitative differential equations and an objective function that minimizes the gap between the current and the desired performance indexes of the process. The reference models are intelligent so when they receive the current state of the problematic process and the desired performance indexes they generate the required improvements for the problematic process. The reference models are fuzzy cognitive maps added with an objective function and trained using the improvements implemented by the high performance firms. Experiments done in a set of students show the reference models allow them to conceive more improvements than students that do not use these models.

Keywords: continuous improvement, fuzzy cognitive maps, process competitiveness, qualitative simulation, system dynamics

Procedia PDF Downloads 87

Authors: Martina Manenova, Lukas Cirus

Abstract:

This article introduces research focused on elementary school teachers’ approach to innovations in ICT. The diffusion of innovations theory, which was written by E. M. Rogers, captures the processes of innovation adoption. The research method derived from this theory and the Rogers’ questionnaire focused on the diffusion of innovations was used as the basic research method. The research sample consisted of elementary school teachers. The comparison of results with the Rogers’ results shows that among the teachers in the research sample the so-called early majority, as well as the overall division of the data, was rather central (early adopter, early majority, and later majority). The teachers very rarely appeared on the edge positions (innovator, laggard). The obtained results can be applied to teaching practice and used especially in the implementation of new technologies and techniques into the educational process.

Keywords: innovation, diffusion of innovation, information and communication technology, teachers

Procedia PDF Downloads 293

Authors: Natia Tsiklashvili, Tamari Poladashvili

Abstract:

Education is one of the fundamental factors of economic prosperity in all respects. It is impossible to talk about the sustainable economic development of the country without substantial investments in human capital and investment into higher educational institutions. Education improves the standard of living of the population and expands the opportunities to receive more benefits, which will be equally important for both the individual and the society as a whole. There are growing initiatives among educated people such as entrepreneurship, technological development, etc. At the same time, the distribution of income between population groups is improving. The given paper discusses the scientific literature in the field of sustainable development through higher educational institutions. Scholars of economic theory emphasize a few major aspects that show the role of higher education in economic growth: a) Alongside education, human capital gradually increases which leads to increased competitiveness of the labor force, not only in the national but also in the international labor market (Neoclassical growth theory), b) The high level of education can increase the efficiency of the economy, investment in human capital, innovation, and knowledge are significant contributors to economic growth. Hence, it focuses on positive externalities and spillover effects of a knowledge-based economy which leads to economic development (endogenous growth theory), c) Education can facilitate the diffusion and transfer of knowledge. Hence, it supports macroeconomic sustainability and microeconomic conditions of individuals. While discussing the economic importance of education, we consider education as the spiritual development of the human that advances general skills, acquires a profession, and improves living conditions. Scholars agree that human capital is not only money but liquid assets, stocks, and competitive knowledge. The last one is the main lever in the context of increasing human competitiveness and high productivity. To address the local issues, the present article researched ten educational institutions across Georgia, including state and private HEIs. Qualitative research was done by analyzing in-depth interweaves of representatives from each institution, and respondents were rectors/vice-rectors/heads of quality assurance service at the institute. The result shows that there is a number of challenges that institution face in order to maintain sustainable development and be the strong links to education and the labor market. Mostly it’s contacted with bureaucracy, insufficient finances they receive, and local challenges that differ across the regions.

Keywords: higher education, higher educational institutions, sustainable development, regions, Georgia

Procedia PDF Downloads 85

Authors: Sarah Marie

Abstract:

In today's dynamic financial landscape, cryptocurrencies represent a paradigm shift characterized by innovation and intense debate. This study probes into their transformative potential and the challenges they present, offering a balanced perspective that recognizes both their promise and pitfalls. Emulating the engaging style of a TED Talk, this research goes beyond academic analysis, serving as a critical bridge to reconcile the perspectives of cryptocurrency skeptics and enthusiasts, fostering a well-informed dialogue. The study employs a mixed-method approach, analyzing current trends, regulatory landscapes, and public perceptions in the cryptocurrency domain. It distinguishes genuine innovators in this field from ostentatious opportunists, echoing the sentiment that real innovation should be separated from mere showmanship. If one is unfamiliar with who is being referenced, they can likely spot them leaning against their Lamborghinis outside "Crypto" conventions, looking greasy. Major findings reveal a complex scenario dominated by regulatory uncertainties, market volatility, and security issues, emphasizing the need for a coherent regulatory framework that balances innovation with risk management and sustainable practices. The study underscores the importance of transparency and consumer protection in fostering responsible growth within the cryptocurrency ecosystem. In conclusion, the research advocates for education, innovation, and ethical governance in the realm of cryptocurrencies. It calls for collaborative efforts to navigate the intricacies of this evolving landscape and to realize its full potential in a responsible, inclusive, and forward-thinking manner.

Keywords: financial landscape, innovation, public perception, transparency

Procedia PDF Downloads 51

Authors: Marcella De Filippo, Delio Colangelo, Luca Farnia

Abstract:

In recent decades, the hyper-competition of tourism scenario has implicated the maturity of many businesses, attributing a central role to innovative processes and their dissemination in the economy of company management. At the same time, it has defined the need for monitoring the application of innovations, in order to govern and improve the performance of companies and destinations. The study aims to analyze and define the innovation in the tourism sector. The research actions have concerned, on the one hand, some in-depth interviews with experts, identifying innovation in terms of process and product, digitalization, sustainability policies and, on the other hand, to evaluate the interaction between these factors, in terms of substitutability and complementarity in management scenarios, in order to identify which one is essential to be competitive in the global scenario. Fuzzy measures and Choquet integral were used to elicit Experts’ preferences. This method allows not only to evaluate the relative importance of each pillar, but also and more interestingly, the level of interaction, ranging from complementarity to substitutability, between pairs of factors. The results of the survey are the following: in terms of Shapley values, Experts assert that Innovation is the most important factor (32.32), followed by digitalization (31.86), Network (20.57) and Sustainability (15.25). In terms of Interaction indices, given the low degree of consensus among experts, the interaction between couples of criteria on average could be ignored; however, it is worth to note that the factors innovations and digitalization are those in which experts express the highest degree of interaction. However for some of them, these factors have a moderate level of complementarity (with a pick of 57.14), and others consider them moderately substitutes (with a pick of -39.58). Another example, although outlier is the interaction between network and digitalization, in which an expert consider them markedly substitutes (-77.08).

Keywords: innovation, business model, tourism, fuzzy

Procedia PDF Downloads 272

Authors: Tissa Ravinda Perera

Abstract:

An open economic policy was introduced by Sri Lanka in 1977, before many other countries in Asia to align her economy to world economic trends and it was affected indigenous businesses since they had to compete with foreign products, processes, technology, innovations and businesses. The year 2010 was a milestone in Sri Lankan history to achieve the developmental goals when Foxbuisness rated Sri Lanka as the best performing global economy. However, Sri Lanka missed her chances of achieving development with the political and social chaos, consequent the regime change in 2015. This paper argues that to support the development of the country, Sri Lanka must develop an entrepreneurial culture. In this endeavor, creativity and innovation will play a pivotal role to achieve the desired level of development. In this study, it was used secondary data from various local and international sources to understand and explore the existing scenario of Sri Lankan economy, state of entrepreneurial culture and innovation, and challenges and competencies for the development of an entrepreneurial culture in Sri Lanka. The data was collected from secondary sources were depicted in tables in this paper in a meaningful manner. Based on the tables many findings were aroused and conclusions were made to support the argument in this paper. This paper revealed that the development of an entrepreneurial culture has to be associated with creativity and innovation to gain a competitive advantage over the development strategies of other countries. It is exposed that an entrepreneurial culture will help minorities, women and underprivileged societies to empower themselves. This product will help to confront and manage youth unrest which has created anarchy in the country from time to time. Throughout this paper, it was highlighted the past, present and future scenario of Sri Lankan economy along with modification to be done to it through the development of an entrepreneur culture in light of innovation and creativity to achieve the desired level of development.

Keywords: economy, industry, creativity, innovation, entrepreneurship, entrepreneurial culture

Procedia PDF Downloads 180

Authors: Runlian Miao, Wei Xie, Hong Zhang

Abstract:

In China, Beijing-Tianjin-Hebei is regarded as a strategically important region because itenjoys highest development in economic development, opening up, innovative capacity and andpopulation. Integrated development of Beijing-Tianjin-Hebei region is increasingly emphasized by the government recently years. In 2014, it has ascended to one of the national great development strategies by Chinese central government. In 2015, Coordinated Development Planning Compendium for Beijing-Tianjin-Hebei Region was approved. Such decisions signify Beijing-Tianjin-Hebei region would lead innovation-driven economic development in China. As an essential factor to achieve national innovation-driven development and significant part of regional industry chain, the optimization of science and technology resources allocation will exert great influence to regional economic transformation and upgrading and innovation-driven development. However, unbalanced distribution, poor sharing of resources and existence of information isolated islands have contributed to different interior innovation capability, vitality and efficiency, which impeded innovation and growth of the whole region. Under such a background, to integrate and vitalize regional science and technology resources and then establish high-end, fast-responding and precise innovation service system basing on regional resources, would be of great significance for integrated development of Beijing-Tianjin-Hebei region and even handling of unbalanced and insufficient development problem in China. This research uses the method of literature review and field investigation and applies related theories prevailing home and abroad, centering service path of science and technology resources for innovation. Based on the status quo and problems of regional development of Beijing-Tianjin-Hebei, theoretically, the author proposed to combine regional economics and new economic geography to explore solution to problem of low resource allocation efficiency. Further, the author puts forward to applying digital map into resource management and building a platform for information co-building and sharing. At last, the author presents the thought to establish a specific service mode of ‘science and technology plus digital map plus intelligence research plus platform service’ and suggestion on co-building and sharing mechanism of 3 (Beijing, Tianjin and Hebei ) plus 11 (important cities in Hebei Province).

Keywords: Beijing-Tianjin-Hebei, science and technology resources, innovation service, digital platform

Procedia PDF Downloads 161

Authors: Subarna Ferdous, Mitsuru Ikeda

Abstract:

For the shrimp companies to remain relevant to its local and international consumers, they must offer new shrimp product and services. It must work actively not just to create value for the consumer, but to involve the consumer in co-creating value for shrimp product innovation in the market. In this theoretical work, we conceptualize the business concept of value co-creation in the context of shrimp products, and propose a framework of value co-creation for shrimp product innovation in shrimp industries. With guidance on value co-creation in in shrimp industry, and shrimp value chain actors mapped to the co-creation cycle, companies can use the framework to offer new shrimp product to consumer communities. Although customer co-creation is known approach in the world, it is not commonly used by the companies in Bangladesh. This paper makes an original contribution by conceptualizing co-creation and set the examples of best co-creation practices in food sector. The results of the study provide management with guidelines for successful co-creation projects with an innovation- and market-oriented approach. The framework also provides a basis for further research in this area.

Keywords: bangladesh, shrimp industry, value co-creation, shrimp product

Procedia PDF Downloads 514

Authors: Sarah M. Schoellhammer, Stephen Gibb

Abstract:

Bureaucracy, in particular, its core element, a formal and stable hierarchy of authority, is proving less and less appropriate under the conditions of today’s knowledge economy. Centralization and formalization were consistently found to hinder innovation, undermining cross-functional collaboration, personal responsibility, and flexibility. With its focus on systematical planning, controlling and monitoring the development of new or improved solutions for customers, even innovation management as a discipline is to a significant extent based on a mechanistic understanding of organizations. The most important drivers of innovation, human creativity, and initiative, however, can be more hindered than supported by central elements of classic innovation management, such as predefined innovation strategies, rigid stage gate processes, and decisions made in management gate meetings. Heterarchy, as an alternative network form of organization, is essentially characterized by its dynamic influence structures, whereby the biggest influence is allocated by the collective to the persons perceived the most competent in a certain issue. Theoretical arguments that the non-hierarchical concept better supports innovation than bureaucracy have been supported by empirical research. These prior studies either focus on the structure and general functioning of non-hierarchical organizations or on their innovativeness, that means innovation as an outcome. Complementing classic innovation management approaches, this work aims to shed light on how innovations are initiated and realized in heterarchies in order to identify alternative solutions practiced under conditions of the post-bureaucratic organization. Through an initial individual case study, which is part of a multiple-case project, the innovation practices of an innovative and highly heterarchical medium-sized company in the German fire engineering industry are investigated. In a pragmatic mixed methods approach media resonance, company documents, and workspace architecture are analyzed, in addition to qualitative interviews with the CEO and employees of the case company, as well as a quantitative survey aiming to characterize the company along five scaled dimensions of a heterarchy spectrum. The analysis reveals some similarities and striking differences to approaches suggested by classic innovation management. The studied heterarchy has no predefined innovation strategy guiding new product and service development. Instead, strategic direction is provided by the CEO, described as visionary and creative. Procedures for innovation are hardly formalized, with new product ideas being evaluated on the basis of gut feeling and flexible, rather general criteria. Employees still being hesitant to take responsibility and make decisions, hierarchical influence is still prominent. Described as open-minded and collaborative, culture and leadership were found largely congruent with definitions of innovation culture. Overall, innovation efforts at the case company tend to be coordinated more through cultural than through formal organizational mechanisms. To better enable innovation in mainstream organizations, responsible practitioners are recommended not to limit changes to reducing the central elements of the bureaucratic organization, formalization, and centralization. The freedoms this entails need to be sustained through cultural coordination mechanisms, with personal initiative and responsibility by employees as well as common innovation-supportive norms and values. These allow to integrate diverse competencies, opinions, and activities and, thus, to guide innovation efforts.

Keywords: bureaucracy, heterarchy, innovation management, values

Procedia PDF Downloads 187

Authors: Lissette Alejandra Lara, Mario Gomez, Jose Carlos Rodriguez

Abstract:

ransnational corporations (TNCs) as units in which it is possible technology and knowledge transfer across borders and the potential for generating innovation and contributing in economic development both in home and host countries have been widely acknowledged in the foreign direct investment (FDI) literature. Particularly, the accelerated expansion of emerging countries TNCs in the last decades has guided an uprising research stream that measure the presence of reverse technology transfer, defined as the extent to which emerging countries’ TNCs use outward FDI in a host country through certain mechanisms to absorb and transfer knowledge thus improving its technological capabilities in the home country. The objective of this paper is to test empirically the presence of reverse technology transfer and its impact on the innovation capabilities in Mexican transnational corporations (MXTNCs) as a part of the emerging countries TNCs that have successfully entered to industrialized markets. Using a panel dataset of 22 MXTNCs over the period 1994-2015, the results of the econometric model demonstrate that the amount of Mexican outward FDI and the research and development (R&D) expenditure in host developed countries had a positive impact on the innovation capabilities at the firm and industry level. There is also evidence that management of acquired brands and the organizational structure of Mexican subsidiaries improved these capabilities. Implications for internationalization strategies of emerging countries corporations and future research guidelines are discussed.

Keywords: emerging countries, foreign direct investment, innovation capabilities, Mexican transnational corporations, reverse technology transfer

Procedia PDF Downloads 227

Authors: Dmitry K. Shaytan, Georgy D. Laptev

Abstract:

In our research we aimed to test a managerial approach for the fuzzy front end (FFE) of innovation by creating controlled experiment/ business case in a breakthrough innovation development. The experiment was in the sport industry and covered all aspects of the customer discovery stage from ideation to prototyping followed by patent application. In the paper we describe and analyze mile stones, tasks, management challenges, decisions made to create the break through innovation, evaluate overall managerial efficiency that was at the considered FFE stage. We set managerial outcome of the FFE stage as a valid product concept in hand. In our paper we introduce hypothetical construct “Q-factor” that helps us in the experiment to distinguish quality of FFE outcomes. The experiment simulated for entrepreneur the FFE of innovation and put on his shoulders responsibility for the outcome of valid product concept. While developing managerial approach to reach the outcome there was a decision to look on product concept from the cognitive psychology and cognitive science point of view. This view helped us to develop the profile of a person whose projection (mental representation) of a new product could optimize for a manager or entrepreneur FFE activities. In the experiment this profile was tested to develop breakthrough innovation for swimmers. Following the managerial approach the product concept was created to help swimmers to feel/sense water. The working prototype was developed to estimate the product concept validity and value added effect for customers. Based on feedback from coachers and swimmers there were strong positive effect that gave high value for customers, and for the experiment – the valid product concept being developed by proposed managerial approach for the FFE. In conclusions there is a suggestion of managerial approach that was derived from experiment.

Keywords: concept development, concept testing, customer discovery, entrepreneurship, entrepreneurial management, idea generation, idea screening, startup management

Procedia PDF Downloads 445

Authors: Emma Serwaa Obobisa, Winifred Essaah

Abstract:

Significant worldwide trends including urbanization, industrialization, globalization, and the impending digitization have all contributed to human prosperity. However, the majority of these advancements fail to take sustainability into account, which caused the earth to manifest its retaliation in many forms. Since the world is already well-advanced, mankind needs a mature development that instills sustainability in its acts. As a result, the United Nations established the Sustainable Development Goals (SDGs), which set forth guidelines for human behavior to ensure that the ecosystem and mankind coexist as a unified, autonomous system. The study investigates the role of eco-innovation, renewable energy consumption, human capital, environmental tax, and natural resources in achieving European Union countries' sustainable development goals. The results show that eco-innovation, renewable energy consumption, human capital, and environmental tax have a negative relationship with consumption-based CO₂ emissions but a positive relationship with natural resources. These findings suggest that governments in European Union countries commit to encouraging environmentally friendly technology advances and green investment. It also stresses the need to enforce regulations that regulate the activities of polluting firms in the region with strictness.

Keywords: sustainable development, Eco-innovation, renewable energy, CO₂ emissions

Procedia PDF Downloads 41

Authors: Saiful Islam, Deuk Jong Bae

Abstract:

The purpose of this study is to examine citizen satisfaction and competitiveness of a Public Private Partnership project. The study focuses on PPP in the transport sector and investigates the New Bundang Subway Line (NBL) in South Korea as the object of a case study. Most PPP studies are dominated by the study of public and private sector interests, which are classified in to three major areas comprising of policy, finance, and management. This study will explore the user perspective by assessing customer satisfaction upon NBL cost and service quality, also the competitiveness of NBL compared to other alternative transport modes which serve the Jeongja – Gangnam trip or vice versa. The regular Bundang Subway Line, New Bundang Subway Line, bus and private vehicle are selected as the alternative transport modes. The study analysed customer satisfaction of NBL and citizen’s preference of alternative transport modes based on a survey in Bundang district, South Korea. Respondents were residents and employees who live or work in Bundang city, and were divided into the following areas Pangyo, Jeongjae – Sunae, Migeun – Ori – Jukjeon, and Imae – Yatap – Songnam. The survey was conducted in January 2015 for two weeks, and 753 responses were gathered. By applying the Hedonic Utility approach, the factors which affect the frequency of using NBL were found to be overall customer satisfaction, convenience of access, and the socio economic demographic of the individual. In addition, by applying the Analytic Hierarchy Process (AHP) method, criteria factors influencing the decision to select alternative transport modes were identified. Those factors, along with the author judgement of alternative transport modes, and their associated criteria and sub-criteria produced a priority list of user preferences regarding their alternative transport mode options. The study found that overall the regular Bundang Subway Line (BL), which was built and operated under a conventional procurement method was selected as the most preferable transport mode due to its cost competitiveness. However, on the sub-criteria level analysis, the NBL has competitiveness on service quality, particularly on journey time. By conducting a sensitivity analysis, the NBL can become the first choice of transport by increasing the NBL’s degree of weight associated with cost by 0,05. This means the NBL would need to reduce either it’s fare cost or transfer fee, or combine those two cost components to reduce the total of the current cost by 25%. In addition, the competitiveness of NBL also could be obtained by increasing NBL convenience through escalating access convenience such as constructing an additional station or providing more access modes. Although these convenience improvements would require a few extra minutes of journey time, the user found this to be acceptable. The findings and policy suggestions can contribute to the next phase of NBL development, showing that consideration should be given to the citizen’s voice. The case study results also contribute to the literature of PPP projects specifically from a user side perspective.

Keywords: public private partnership, customer satisfaction, public transport, new Bundang subway line

Procedia PDF Downloads 351

Authors: Sudheer Gupta

Abstract:

Approximately 4 billion citizens of the world live on the equivalent of less than $8 a day. This segment constitutes a $5 trillion global market that remains under-served. Multinational corporations have historically tended to focus their innovation efforts on the upper segments of the economic pyramid. The academic literature has also been dominated by theories and frameworks of innovation that are valid when applied to the developed markets and consumer segments, but fail to adequately account for the challenges and realities of new product and service creation for the poor. Theories of entrepreneurship developed in the context of developed markets similarly ignore the challenges and realities of operating in developing economies that can be characterized by missing institutions, missing markets, information and infrastructural challenges, and resource constraints. Social entrepreneurs working in such contexts develop solutions differently. In this talk, we summarize lessons learnt from a long-term research project that involves data collection from a broad range of social entrepreneurs in developing countries working towards solutions to alleviate poverty, and grounded theory-building efforts. We aim to develop a better understanding of consumers, producers, and other stakeholder involvement, thus laying the foundation to build a robust theory of innovation and entrepreneurship for the poor.

Keywords: poverty alleviation, social enterprise, social innovation, development

Procedia PDF Downloads 399

Authors: Dante Jose R. Amisola, Glenford M. Prospero

Abstract:

'Driving What’s Next' is a strong campaign of the new administration of De La Salle Lipa in promoting social innovation in quality education. The new leadership directs social innovation in quality education in the institutional directions and initiatives to address real-world challenges with real-world solutions. This research under study aims to qualify the commitment of the institution to extend the Lasallian quality human and Christian education to all, as expressed in the Institution’s new mission-vision statement. The Classic Grounded Theory methodology is employed in the process of generating concepts in reference to the documents, a series of meetings, focus group discussions and other related activities that account for the conceptualization and formulation of the new mission-vision along with the new education innovation framework. Notably, Driving What’s Next is the emergent theory that encapsulates the commitment of giving quality human and Christian education to all. It directs the new leadership in driving social innovation in quality education initiatives. Correspondingly, Driving What’s Next is continually resolved through four interrelated strategies also termed as the institution's four strategic directions, namely: (1) driving social innovation in quality education, (2) embracing our shared humanity and championing social inclusion and justice initiatives, (3) creating sustainable futures and (4) engaging diverse stakeholders in our shared mission. Significantly, the four strategic directions capture and integrate the 17 UN sustainable development goals, making the innovative curriculum locally and globally relevant. To conclude, the main concern of the new administration and how it is continually resolved, provide meaningful and fun learning experiences and promote a new way of learning in the light of the 21^st century skills among the members of the academic community including stakeholders and extended communities at large, which are defined as: learning together and by association (collaboration), learning through engagement (communication), learning by design (creativity) and learning with social impact (critical thinking).

Keywords: DLSL four strategic directions , DLSL Lipa mission-vision, driving what's next, social innovation in quality education

Procedia PDF Downloads 217

Authors: Beata Ślusarczyk, Sebastian Kot

Abstract:

In subjective terms, Polish SME sector occupies a prominent position in the national economic development, in which planning of the management strategies should be primarily based on identifying and meeting the innovation needs. As a research sample, there is chosen a printing sector of industry. SMEs share in printing sector in Poland is estimated at the level of 81% of all enterprises. In recent years, the printing industry achieved one of the highest levels of EU support in Poland. There is a relatively high increase in the development of technological innovations in equipment and the associated significant increase in production capacity. It can be also noticed that on average, every third enterprise belonging to the printing industry has implemented innovations, but not all of them effected in better economic results. Therefore, the aim of this article is to evaluate the impact of the implementation of innovation projects financed from the EU funds for performance of SMEs in the printing industry. As the results of research of EU funds co-financing effects on the development of innovation in the printing industry, it was specified that examined SMEs prefer to implement product innovation to receive a grant to the project at a level between 40% to 60%, the remaining part of the investment is usually covered with equity. The most common type of innovation had indicated a single implementation, related only to the change in process, technology, or organization. The relationship between variables of the EU funds and management of innovative activities was verified. It has been observed that the identified variables arising from the support in a form of the EU funds had a positive effect on the level of earned revenue, the increase in margin and in increase in employment as well. It was confirmed that the implemented innovations supported by the European funds have a positive impact on the performance of the printing companies. Although there is a risk that due to the decreasing demand for printing services such a high level of funding the companies in this sector will significantly increase competition in the long term, that may also contribute to the economic problems of the enterprises belonging to the analyzed branch.

Keywords: innovations, SMEs, performance, results

Procedia PDF Downloads 314