Generating creative ideas and turning them into innovations is key for competitive advantage. However, endeavors toward creativity and innovation are bounded by constraints such as rules and ...regulations, deadlines, and scarce resources. The effect of constraints on creativity and innovation has attracted substantial interest across the fields of strategic management, entrepreneurship, industrial organization, technology and operations management, organizational behavior, and marketing. Research in these fields has focused on various constraints that trigger distinct mediating mechanisms but is fragmented and yields conflicting findings. We develop a taxonomy of constraints and mediating mechanisms and provide an integrative synthesis that explains how constraints affect creativity and innovation. Our review thus facilitates cross-disciplinary learning and sets the stage for further theoretical development.
Systematically identification and building of digital capability in the Digital Age are of great significance to the obtainment of enterprises' sustainable competitive advantages. This article first ...proposes typical application paradigms for the general framework of building digital capability of industrial enterprises in the Digital Age (FBDC) announced as international standard. Then data of over 4100 practical cases of building digital capabilities using FBDC by over 4000 Chinese industrial enterprises are collected. Based on the data, major directions, core implementations of digital capabilities building are systematically demonstrated through statistical analysis. Furthermore, we divide the investigated enterprises into different groups by sector, then organize in-depth research works to illustrate the major directions and typical practices of building digital capabilities in China's raw materials sector, equipment sector, and consumer goods sector. The results show that the major concerns of Chinese industrial enterprises building digital capabilities are centered on six aspects: R&D and innovation, production management and control, supply chain management, financial management and control, business management, and customer service. The results of sector-wise analysis also provide practical reference to industrial enterprises and other stakeholders to identify suitable digital capability based on information and communication technologies application in the Digital Age and efficiently implement the digital capability building process.
Smart factory performance and Industry 4.0 Büchi, Giacomo; Cugno, Monica; Castagnoli, Rebecca
Technological forecasting & social change,
January 2020, 2020-01-00, 20200101, Letnik:
150
Journal Article
Recenzirano
Odprti dostop
•The paper builds an operationalization of the concepts of openness to Industry 4.0 and performance.•The openness to Industry 4.0 is analyzed in terms of its breadth and depth.•Industry 4.0 modifies ...local manufacturing units’ performance in term of six opportunity typologies.•Local units more open to Industry 4.0 obtain greater opportunities.•Micro-enterprises’ local manufacturing units obtain more opportunities through their openness to Industry 4.0.
Existing literature on the Industry 4.0 concept does not empirically verify if, how, and for which types of firms, a greater openness to enabling technologies of Industry 4.0 provides further opportunities. This study analyzes the causal relationship between this degree of openness and performance, with an empirical analysis based on a sample representing local manufacturing units. Performance is measured by the extent of opportunities businesses obtain. The degree of openness is investigated using two indicators: breadth, or the number of technologies used; and depth, or the number of value chain stages involved. The regression models demonstrate that: (1) breadth and (2) depth of Industry 4.0 allow greater opportunities, and (3) micro-level local units achieve best performances. Verifying the opportunities for companies with Industry 4.0 is extremely relevant, as investments in Industry 4.0 are high in terms of costs, the acquisition of new skills, and the risks of obsolescence to enable better strategic decisions. This work also provides a scope for future analyses of this topic conducted on panel data. Despite the limited application of Industry 4.0, this study's results can encourage managers and policy-makers to implement a wider range of enabling technologies in the various stages of the value chain.
The article generalizes the theoretical and methodological aspects of managing the strategic development of industrial enterprises in Ukraine. It is specified that the industry of Ukraine has always ...been and remains a driver of the national economy, both economically and socially. In this regard, today the issues of the need to form modern development strategies that can provide domestic enterprises with an appropriate level of competitiveness and image acquisition in the world market appear to be very acute. From this point of view, the generalization of theoretical aspects of managing the strategic development of industrial enterprises in Ukraine is relevant and appropriate, given the difficult macroeconomic conditions and the need to adapt economic entities to martial law. The characterization of basic strategies is generalized. The constituents of the strategy for managing the development of an industrial enterprise are defined. It is noted that the management of strategic development of industrial enterprises is a complex process that requires a sufficiently high level of management and the ability to make effective managerial decisions. It is found that it is impossible to imagine the process of managing the strategic development of an industrial enterprise without the presence of strategic potential, which provides the most effective ways to use resources, economic reserves and capabilities of an economic entity in order to maximize the effective implementation of its strategy. A number of indicators of local potentials of an industrial enterprise is presented. It is noted that an effective strategy for the development of an industrial enterprise lays down the prospects for economic growth and determines its positioning in the market. It is concluded that one of the important conditions for efficient management of strategic development of industrial enterprises in Ukraine today is the use of scientifically based approaches to strategic management along with practical experience in conducting business. The presence and development of the strategic potential of industrial enterprises will allow in the future to use the most effective ways and methods of using all available resources in order to make a profit and achieve strategic goals.
Economic analysis is the only information subsystem of managing the economic activity of an industrial enterprise, which has a special methodological toolkit that makes it possible to assess ...cause-and-effect relationships and identify reserves for the enterprise's development. It was noted in the article that the methodology of economic analysis is flexible to changes in the internal and external environment and is able to quickly change the methodological tools for evaluating the effectiveness of management of both existing and new management objects. In turn, it is important to study evacuation processes and the impact of the consequences of hostilities and the occupation of state territories on the economic activity of industrial enterprises. In the course of the research, different approaches of scientists to the structure and content of tasks of economic analysis of economic activity were analyzed. The principles of economic analysis, without which it is impossible to achieve the tasks of economic analysis, are considered. The methodical provisions of the economic analysis of the efficiency of evacuation processes and the restoration of the industrial enterprise in safe territories were developed according to the following components: assessment of the impact of hostilities and occupation of state territories on the results of the industrial enterprise, assessment of the efficiency of non-current assets; evaluation of the effectiveness of current assets; assessment of the effectiveness of costs for the evacuation of an industrial enterprise; assessment of the effectiveness of the restoration of the industrial enterprise in safe territories.
In today's world, the development of any economy is characterised by numerous financial, socio-economic and political challenges. Ukraine's experience is particularly special, as its macroeconomic ...environment is undergoing significant shifts and changes due to the unprecedented armed invasion of its sovereign territory by a neighbouring aggressor country. Given the importance of the industrial production sector in the country's economic growth, the problem of additional financial sources for the development of industrial enterprises in the dynamic macroeconomic environment of Ukraine is particularly relevant. Since banks are the dominant link in the financial system of Ukraine, the study of the impact of the macroeconomic environment on bank lending to industrial enterprises is of particular scientific interest. The article is aimed at identifying and analysing the key economic factors of the macroeconomic environment of Ukraine that influenced the state of bank lending to industrial enterprises in 2009-2022, using economic and mathematical modelling methods. Methodology. The study is based on the data that showed the highest correlations between the outcome variable - the volume of bank lending to industrial enterprises (in billion UAH) and the explanatory variables - economic factors of the macroeconomic environment of different groups (general indicators of economic development; indicators of industrial development; indicators of socio-economic development; indicators of the monetary market; indicators of public finance; indicators of the external sector; indicators of the foreign exchange market) for the period 2009-2022. Based on these data, a multiple linear regression model is built and the results are interpreted. Practical implications. The practical results can serve as a basis for further research on ways to improve the risk management of bank lending to industrial enterprises in a dynamic macroeconomic environment; ways to improve the management of problem debts of industrial enterprises; ways to intensify bank lending to industrial enterprises in Ukraine as a prerequisite for post-war economic reconstruction on the basis of sustainable development, etc. Value/Originality. The results of the research provide a deeper understanding of the role of the country's macroeconomic environment, its dynamics and the impact of certain economic factors on the development of bank lending to industrial enterprises as an important source of additional financial resources for industrial enterprises.
This study seeks to contribute to the existing business strategy and the environment literature by examining the effect of governance structures on Chinese firms' environmental performance, and ...consequently ascertain the extent to which the financial performance–environmental performance nexus is moderated by governance mechanisms. Using a sample of Chinese companies from heavily polluting industries over a 5‐year period, our baseline findings suggest that, on average, board size and governing board meetings are positively associated with Chinese firms' environmental performance, whilst board independence and gender diversity have positive, but insignificant association with firms' environmental performance. Our evidence suggests further that the examined internal governance mechanisms have a mixed moderating effect on the link between financial performance and environmental performance. Our findings have important implications for company executives, environmental activists, policy‐makers, and regulators. Our results support insights drawn from agency, resource dependence, stakeholder, and legitimacy theories.
Economic growth targets management is the driving force behind China's phenomenal economic achievement over the past decades. However, how it affects corporate environmental behavior remains ...ambiguous. Based on the data of China's A-share listed companies in the heavy-polluting industries from 2009 to 2019, this study sheds light on the effect of economic growth targets on corporate environmental investment. We find that corporates tend to crowd out their investment in environmental conservation when local governments are under high pressure to address growth targets. It suggests that corporates arrange their investment activities to cope with the distortion effect of government intervention. Consistent with our expectation, evidence shows that corporate environmental investment decreases given that competition on economic growth target drives local officials to relax environmental regulation intensity, especially for cities with high-promotion-incentives officials. Moreover, an interesting finding is that such an adverse effect is greater for SOEs, while ownership heterogeneity does not exist or is small when local officials have stronger promotion incentives. This study not only provides a deeper insight into the role of government intervention in corporate investment decisions, but also contributes to designing better official evaluation systems to achieve sustainable development in emerging economies.
•Based on the fixed-effect panel model and the data of China's A-share listed companies in the heavy-polluting industries.•We shed light on the effect of economic growth targets on corporate environmental investment.•Results indicate that economic growth target significantly crowds out corporate efforts on environmental protection.•Environmental regulation is the mechanism through which growth targets affect corporate environmental investment.•Political connection stimulates the adverse effect of economic growth target.
Today, the issue related to the process of evacuation of an industrial enterprise and resumption of work in safe territories is extremely relevant. Its relevance is due to the complexity of the ...process, which requires operational management decisions on the one hand and the evaluation of the effectiveness of this process in order to determine the financial status and continuity of the enterprise in a strategic dimension on the other hand. The article proves that the formation of a high-quality information product to ensure decision-making by stakeholders is an important component of the aforementioned. Implementation of the above is possible only through the formation of an internal reporting system. A set of accounting information about the state and changes in the company’s assets and liabilities allows taking reasonable management decisions. In the conditions of the market economy of Ukraine, the work of accounting personnel of enterprises is filled with new content. This determines the need to expand the internal reporting system of the industrial enterprise in the context of reflecting the consequences of hostilities and the occupation of state territories and the processes of evacuation and the start-up of the enterprise’s work in safe territories. Accordingly, research on the development of internal reporting on evacuation processes of industrial enterprises is being updated.
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