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In social networks or, more specifically, online communities on tech-products, opinion leaders are important sources of advice for other consumers in the adoption and diffusion of new products. However, possibilities for potential users to exert their influence on opinion leadership are ignored. This study determines whether and how lead users may serve as opinion leaders in social networks and advise other consumers in the adoption and diffusion of new products. Our survey with 308 users in the Xiaomi and Huawei communities suggests that higher lead userness is positively and significantly associated with the likelihood of opinion giving and passing. Product-possessing innovativeness has a higher impact compared with information-possessing innovativeness. Product involvement does not enhance the effect of information-possessing innovativeness. The findings provide a better understanding of the formation of opinion leadership in social networks for an accelerated diffusion of new products.
Background
Wearables, as small portable computer systems worn on the body, can track user fitness and health data, which can be used to customize health insurance contributions individually. In particular, insured individuals with a healthy lifestyle can receive a reduction of their contributions to be paid. However, this potential is hardly used in practice.
Objective
This study aims to identify which barrier factors impede the usage of wearables for assessing individual risk scores for health insurances, despite its technological feasibility, and to rank these barriers according to their relevance.
Methods
To reach these goals, we conduct a ranking-type Delphi study with the following three stages. First, we collected possible barrier factors from a panel of 16 experts and consolidated them to a list of 11 barrier categories. Second, the panel was asked to rank them regarding their relevance. Third, to enhance the panel consensus, the ranking was revealed to the experts, who were then asked to re-rank the barriers.
Results
The results suggest that regulation is the most important barrier. Other relevant barriers are false or inaccurate measurements and application errors caused by the users. Additionally, insurers could lack the required technological competence to use the wearable data appropriately.
Conclusion
A wider use of wearables and health apps could be achieved through regulatory modifications, especially regarding privacy issues. Even after assuring stricter regulations, users’ privacy concerns could partly remain, if the data exchange between wearables manufacturers, health app providers, and health insurers does not become more transparent.
Behavioral strategy
(2023)
Purpose: Behavioral strategy, as a cognitive- and social-psychological view on strategic management, has gained increased attention. However, its conceptualization is still fuzzy and deserves an in-depth investigation. The authors aim to provide a holistic overview and classification of previous research and identify gaps to be addressed in future research.
Design/methodology/approach: The authors conducted a systematic literature review on behavioral strategy. The final sample includes 46 articles from leading management journals, based on which the authors develop a research framework.
Findings: The results reveal cognition and traits as major internal factors. Besides, organizational and environmental contingencies are major external factors of behavioral strategy.
Originality/value: To the authors’ best knowledge, this is the first holistic systematic literature review on behavioral strategy, which categorizes previous research.
This research examines the impact of firms’ decision-making, crisis management, and risk-taking behaviors on their sustainability and circular economy behaviors through the mediating role of their eco-innovation behavior in the energy industry in Iraq. Firms are exploring applicable mechanisms to increase green practices. This requires the industry to possess the essential skills to overcome the challenges that reduce sustainable activities. We applied a dual-stage structural equation modeling (PLS-SEM) and a multi-criteria decision-making (MCDM) approach to explore the linear relationships between variables, determine the weight of the criteria, and rank energy companies based on a circular economy. The online questionnaire was sent to 549 managers and heads of departments of Iraqi electric power companies. Out of these, 384 questionnaires were collected. The results indicate that firms’ crisis management, decision-making, and risk-taking behaviors are significantly and positively linked to their eco-innovation behavior. This study confirms the significant and positive impact of firms’ eco-innovation behavior on their sustainability and circular economy behaviors. Likewise, eco-innovation behavior has a fully mediating role. For the MCDM methods, ranking energy companies according to the circular economy can support policymakers’ decisions to renew contracts with leading companies in the ranking. Practitioners can also impose government regulations on low-ranked companies. Thus, governments can reduce the problems of greenhouse gas emissions and other environmental pollution.
Entrepreneurship education has gained widespread attention in both education practice and research over the past three decades. However, whereas research has a strong focus on its effects and many normative concepts exist, little is known about how entrepreneurship is actually taught. To address this research gap, we conduct a curriculum analysis of the 50 best programs in entrepreneurship, according to the 2018 Financial Times ranking “Top MBAs for Entrepreneurship 2018”. In particular, we examine their objectives, learning contents and teaching as well as assessment methods as four major dimensions of a graduate entrepreneurship curriculum. The results show that the programs are primarily business and management programs, with a comparatively small share of entrepreneurship itself. Entrepreneurship-specific goals are entrepreneurial attitudes and competences, such as entrepreneurial leadership, entrepreneurial mindset, entrepreneurial skills, opportunity creation, opportunity identification, and transforming uncertainty into opportunity. The learning contents also focus on business, management, and law, whereas the contents relating to entrepreneurship include entrepreneurial failure, entrepreneurial management, entrepreneurial thinking, and entrepreneurship in general. Teaching methods are mainly the ones usually found in higher education, with business plans and prototyping as additional entrepreneurial ones. Assessment methods do not differ from those in business and management education.
Corporate Citizenship
(2020)
Corporate citizenship, which is firms’ societal engagement beyond customer and shareholder interests, is a prominent topic in management practice and has led to extensive research. This increased interest resulted in a complex and fragmented scholarly literature. In order to structure and map the field quantitatively, we conducted a temporal analysis of publications and citations, an analysis of the productivity of involved disciplines, an analysis of the productivity of publication forms including journal impact factors, an author productivity and citation analysis, a co-author analysis, an article citation analysis, an article co-citation analysis, and a keyword co-occurrence analysis. Results of these bibliometric analyses show that corporate citizenship research seems to have been in a phase of stagnation since 2014 and shows a rather low degree of interdisciplinarity. Papers are predominantly published in high impact journals. Authors show little collaboration with other researchers. Current research relates to other business ethics topics, addresses philosophical foundations, and starts to relate to human resource management and organization studies.
Firms engage in forecasting and foresight activities to predict the future or explore possible future states of the business environment in order to pre-empt and shape it (corporate foresight). Similarly, the dynamic capabilities approach addresses relevant firm capabilities to adapt to fast change in an environment that threatens a firm’s competitiveness and survival. However, despite these conceptual similarities, their relationship remains opaque. To close this gap, we conduct qualitative interviews with foresight experts as an exploratory study. Our results show that foresight and dynamic capabilities aim at an organizational renewal to meet future challenges. Foresight can be regarded as a specific activity that corresponds with the sensing process of dynamic capabilities. The experts disagree about the relationship between foresight and sensing and see no direct links with transformation. However, foresight can better inform post-sensing activities and, therefore, indirectly contribute to the adequate reconfiguration of the resource base, an increased innovativeness, and firm performance.
Purpose – Design thinking has become an omnipresent process to foster innovativeness in various fields. Due to its popularity in both practice and theory, the number of publications has been growing rapidly. The authors aim to develop a research framework that reflects the current state of research and allows for the identification of research gaps.
Design/methodology/approach – The authors conduct a systematic literature review based on 164 scholarly articles on design thinking.
Findings – This study proposes a framework, which identifies individual and organizational context factors, the stages of a typical design thinking process with its underlying principles and tools, and the individual as well as organizational outcomes of a design thinking project.
Originality/value – Whereas previous reviews focused on particular aspects of design thinking, such as its characteristics, the organizational culture as a context factor or its role on new product development, the authors provide a holistic overview of the current state of research.
Digitizing grocery retailing
(2021)
Multiple emerging technologies both threaten grocers and offer them attractive opportunities to enhance their value propositions, improve processes, reduce costs, and therefore generate competitive advantages. Among the variety of technological innovations and considering the scarcity of resources, it is unclear which technologies to focus on and where to implement them in the value chain. To develop the most probable technology forecast that addresses the application of emerging technologies in the grocery value chain within the current decade, we conduct a two-stage Delphi study. Our results suggest a high relevance of almost all technologies. The panel is only skeptical about three specific projections. As a consequence, grocers are advised to build up knowledge regarding the application of these technologies in the most promising areas of their value chain.
In this study, we contribute to the scholarly conversation on firm-level business model changes following a neoconfigurational approach. By exploring configurations of business model changes over time, we add the direction of business model changes-namely business model convergence or divergence-as a vital avenue to the business model innovation literature. We identify necessary business model convergence and divergence recipes in a sample of N = 217 strategic dyadic alliances. Firstly, technological proximity emerges as a single precondition to both converging and diverging business models. Secondly, business models between competitors either converge through complementarities or tend not to change relative to each other. Thirdly, equity participation enables business model divergence through co-specialization. We conclude with a discussion of business model trajectories and future research directions.
In this study, we contribute to the scholarly conversation on firm-level business model changes following a neoconfigurational approach. By exploring configurations of business model changes over time, we add the direction of business model changes—namely business model convergence or divergence—as a vital avenue to the business model innovation literature. We identify necessary business model convergence and divergence recipes in a sample of N = 217 strategic dyadic alliances. Firstly, technological proximity emerges as a single pre-condition to both converging and diverging business models. Secondly, business models between competitors either converge through complementarities or tend not to change relative to each other. Thirdly, equity participation enables business model divergence through co-specialization. We conclude with a discussion of business model trajectories and future research directions.
Enhancing higher entrepreneurship education: insights from practitioners for curriculum improvement
(2024)
Curricula for higher entrepreneurship education should meet the requirements of both a solid theoretical foundation and a practical orientation. When these curricula are designed by education specialists, entrepreneurs are usually not consulted. To explore practitioners’ curricular recommendations, we conducted 73 semi-structured interviews with entrepreneurs with at least five years of professional experience. We collected 49 items for teaching and learning objectives, 37 for contents, 28 for teaching methods, and 17 for assessment methods. The respondents are convinced that students should acquire solid knowledge in business and management, legal issues, and entrepreneurship. For the latter, only some core aspects are provided. The entrepreneurs put greater emphasis on entrepreneurial skills and attitudes and consider experiential learning designs as most suitable, both in the secure setting of the classroom and in real life. The findings can help reflect on current entrepreneurship curriculum designs.
Entrepreneurial failure
(2022)
Although entrepreneurial failure (EF) is a fairly recent topic in entrepreneurship literature, the number of publications has been growing dynamically and particularly rapidly. Our systematic review maps and integrates the research on EF based on a multi-method approach to give structure and consistency to this fragmented field of research. The results reveal that the field revolves around six thematic clusters of EF: 1) Soft underpinnings of EF, 2) Contextuality of EF, 3) Perception of EF, 4) Two-sided effects of EF, 5) Multi-stage EF effects, and 6) Institutional drivers of EF. An integrative framework of the positive and negative effects of entrepreneurial failure is proposed, and a research agenda is suggested.
Both entrepreneurship and innovation play a key role for business growth and economic development and are conceptually highly intertwined. Both fields have received extensive attention that has resulted in a large number of publications. The aim of this work is to provide an overview on the coevolution of entrepreneurship and innovation over the last decades, with particular attention to recent research trends. To track the evolution at the intersection of both fields, we employ a bibliometric analysis, which allowed us to identify the key concepts, the backbone of research, and to provide a systematic classification of main research themes diagnosed including: 1) entrepreneurial innovation and digital transformation, 2) sustainable innovation and entrepreneurship, 3) product innovation and knowledge, 4) entrepreneurial orientation and leadership, and 5) regional entrepreneurship and innovation (innovative entrepreneurship and historical roots). The findings of this bibliometric review are reported in the form of a knowledge graph that represents the results obtained in terms of the knowledge base (key terms), knowledge domains, and knowledge evolution (themes and bursts), based on which themes for future research are suggested.
Entrepreneurship education (EE) has attracted much scholarly attention, showing exponential growth in publication and citation numbers. The research field has become broad, complex, and fragmented, making it increasingly difficult to oversee. Our research goal is to organise and integrate the previous literature. To this end, we use bibliometric analyses, differing from prior analyses, which are outdated or have a different focus. Our results show an immense growth in publications and citations over the last decade and an almost equal involvement of business and educational research. We identify the most productive and influential journals and authors. Our co-citation analysis reveals two research clusters, one focusing on psychological constructs relating to EE, and the other on entrepreneurial behaviour and new venture creation. Based on a review of the 25 most-cited articles on an annual basis, we identify and quantify the most relevant research themes and integrate them into a research framework that we propose for future research. A major finding is that extant research centres around the outcomes of entrepreneurship education, whereas its pedagogy is still mainly a black box.
Long-term value creation is expected not only to be concerned with maximizing shareholder value but also includes the impact on other stakeholders and the environment. Environmental, social, and governance (ESG) issues are therefore gaining increasing importance, in line with the growing demand for corporate sustainability. ESG ratings foster the comparison of companies with respect to their sustainable practices. This study aims to investigate how ESG ratings impact financial performance in the European food industry. Ordinary least squares regression is applied to analyze the relation between ESG ratings and financial performance over a 4-year period from 2017 to 2020. The profitability measures Return on Assets (ROA) and Return on Equity (ROE) are employed as financial performance measures, while ESG ratings are obtained from the database CSRHub. Results show that higher ESG ratings are associated with better financial performance. Although the effect is modest in the present study, the findings support previous results that ESG ratings are positively related to financial performance. Nonetheless, they also highlight that ESG ratings strongly converge to the mean, which depicts the need to reassess whether ESG ratings are able to measure actual ESG behavior.
Equity crowdfunding
(2021)
In this study, we explore the development of equity crowdfunding (ECF) over the next 5 to 10 years by conducting an international Delphi study. Our results indicate that the ECF market is expected to grow significantly. However, it is unlikely to disrupt other forms of financing and will not cover all SME financing needs. ECF will remain a funding technique for SMEs and small investors; it is unlikely to attract large corporations or institutional investors. Platforms will impose stricter requirements for capital raisers, expand their services, and innovate their business models. National governments will probably partly liberalize the ECF market.
Leadership development (LD) is a crucial success factor for startups to increase their human capital, survival rate, and overall performance. However, only a minority of young ventures actively engage in LD, and research rather focuses on large corporations and SMEs, which do not share the typical startup characteristics such as a rather young workforce, flat hierarchies, resource scarcity, and high time pressure. To overcome this practical and theoretical lack of knowledge, we engage in foresight and explore which leadership development techniques will be most relevant for startups within the next five to ten years. To formulate the most probable scenario, we conduct an international, two-stage Delphi study with 27 projections among industry experts. According to the expert panel, the majority of startups will engage in leadership development over the next decade. Most startups will aim to develop the leadership capabilities of their workforce as a whole and use external support. The most prominent prospective LD measures in startups include experiential learning methods, such as action learning, developmental job assignments, multi-rater feedback, as well as digital experiential learning programs, and developmental relationships such as coaching in digital one-to-one sessions. Self-managed learning will play a more important role than formal training.
Research on corporate entrepreneurship—venturing activities by established corporations—has received increasing scholarly attention. We employ bibliometric methods to analyze the literature on corporate entrepreneurship published over the last five decades. Based on the results of citation and co-citation analyses, we reveal central works in the field and how they are interconnected. We investigate the underlying intellectual structure of the field. Our findings provide evidence of the growing maturity and interdisciplinarity of corporate entrepreneurship and provide insight into research themes. We find that resource-based view and its extensions still remain the predominant theoretical perspectives in the field. Drawing on these findings, we suggest directions for future research.
Robo advisors represent a digital financial advice solution challenging traditional wealth and asset management, investment advice, retirement planning, and tax-loss harvesting. Based on algorithms, big data analysis, machine learning, and other technologies, these services minimize the necessity for human intervention. Based on an international three-stage Delphi study, we provide a plausible forecast of the development of the robo advisor industry, with regards to market development, competition, drivers of growth, customer segments, challenges, services, technologies, and societal change. The results suggest that the financial advice market will experience a further increase in the number of robo advisor services available. Existing and traditional financial advice players will be forced to adjust to the changing environment of the market. Due to low fees and ease of use, robo advisors will be made available to a broad cross section of society, and will cause significant market losses for traditional investment advice companies. Ten years from now, the predominant investment class will remain Exchange Traded Funds (ETFs). Even though degrees of human intervention are expected to vary considering the complexity of advice, automation will increase in significance when it comes to the development of robo advisors.