The capability to both anticipate user needs and incorporate them into a firm's value proposition is considered as an important stepping stone towards more effective and sustainable business models. ...However, many firms struggle to involve the user in their business model design process. Therefore we have investigated what user-centred approaches to more sustainable business model design exist in practice and how they impact the market uptake of energy efficiency measures. Nine semi-structured interviews with CEOs and managers of firms that provide energy efficiency products and services have been conducted. We found that firms interact with the user in three phases: during the design, the marketing and the use-phase. For these different phases we identified an involvement loop consisting of four stages: design of involvement, facilitation of involvement, extraction of lessons learned and finally business model adaptation. Additionally, different types of user involvement were found ranging from sending and receiving information to co-producing and co-innovating the business model. Involving the user requires facilitation of opportunities for interaction in multiple components of the business model and can lead to both incremental and radical business model innovation ex-post. However, further research is needed to test when and to what extent user-centred approaches lead to more successful market uptake.
•User-centred design does not imply that user involvement is restricted to design only.•In all phases (design, marketing and use) a similar involvement loop is identified.•Four types of involvement occur: sending, receiving, co-producing and co-innovating.•User involvement requires broad business model facilitation by multiple components.•Direct interactions led to more radical insights for business model innovation.
Purpose
– The purpose of this paper is to explore the relationship between entrepreneurial orientation (EO) and firm performance across different levels of environmental hostility and market growth. ...The contingency approach of two-way interactions of EO with each environmental variable is contrasted with the configurational approach of three-way interactions of EO simultaneously with different levels of both environmental variables.
Design/methodology/approach
– Hierarchical regression analysis is applied for the pooled data set of 163 Finnish and Russian small- and medium-sized enterprises, and supplemented with
post hoc
analysis of the differences in regression slopes across environmental configurations.
Findings
– Results show that EO is directly and positively associated with firm performance. However, the strength and direction of this relationship varies by configurations of the external environment variables. Firms achieve superior performance when adopting EO in environments with high levels of both hostility and market growth. In contrast, in favorable environments with low hostility and high market growth, EO adoption leads to lower firm performance.
Research limitations/implications
– The study contributes to the EO literature by demonstrating different effects of EO on firm performance across various environmental configurations. It uses cross-sectional data from two countries. Replication studies using different samples may further corroborate the results.
Practical implications
– In order to take advantage of opportunities and achieve better performance, managers of firms should analyze multiple elements of the environment concurrently and align EO to those conditions.
Originality/value
– The configurations of environmental hostility and market growth, representing both favorable and unfavorable elements of business context, have not been previously investigated together in one model of the EO-performance relationship.
•Carsharing impacts on car ownership at early and maturity phases are compared.•The percent of users shedding a car almost doubled from 2014 (2.3%) to 2018 (4.3%).•The impacts of carsharing extended ...to more general socioeconomic groups over time.•More diverse factors affected carsharing users’ car ownership decisions in 2018.•Factors of service reliability and trip purpose become more influential in 2018.
This study identifies and compares factors that drive carsharing users’ vehicle ownership changes, using repeated cross-sectional surveys conducted in the early (2014) and mature (2018) phases of the carsharing program in Seoul, Korea. Launched in 2013, the carsharing program has experienced a rapid growth in rental facilities and membership. Two types of mixed-effect logistic regression models are developed to predict the reduction in car ownership and the decision to defer a car purchase among carsharing members, respectively, for each phase, and the changes in estimated coefficients between two phases are evaluated statistically. Results show that about 31% of the members reduced their current or potential car ownership in favor of shared automobility in both phases, while the proportion of those who shed a private vehicle almost doubled from 2.3% to 4.3%. Carsharing’s impact on vehicle ownership reduction appears to be extended to more general cohorts of the membership (e.g., higher income, larger households) as the program expands and ages. While accessibility to carsharing services is consistently important for deciding against vehicle ownership, the relative importance of satisfaction with customer services, accident claims process, and rental charges increased significantly between 2014 and 2018. Those who choose shared vehicles for business or commute trips are more willing to decrease their vehicle ownership than those using the service for non-work trips. These findings help develop a clear understanding of carsharing users’ behavioral changes in terms of car ownership following the growth of carsharing services, with insights on the direction of further service improvement.
The development of augmented reality at high-tech enterprises during their digital transformation is considered. The preconditions for the Fourth Industrial Revolution are determined, and the main ...digital technologies on which it relies are noted. A definition of augmented reality technology is proposed. Augmented reality hardware is considered. The prospects for the augmented reality market are analyzed. To that end, the existing forecasts and objective economic data are compared.
Regarding the characteristics of policy mix and its effectiveness, no complete consensus currently exists. This paper divides the new energy vehicle (NEV) industry policies issued by the Chinese ...government from 2009 to 2018 into two types: the supply-side and demand-side policy mix. From the three dimensions of comprehensiveness, consistency and balance, we applied the state space method to construct a time-varying parameter model and analyzed the differences in the overall and dynamic impact of the NEV policy mix characteristics on market growth. The results show that the three characteristics differ in their overall impact: comprehensiveness has the largest impact, followed by consistency, and balance has the smallest impact. The dynamic impact of the comprehensiveness and consistency characteristics of the two types of policy mix fluctuates greatly and presents clear differences in the stage effect. The dynamic impact of the balance characteristic is relatively stable, but this characteristic has little dynamic impact on market growth. The NEV industry policy design should fully consider the characteristics of the policy mix and the differences of this policy mix in terms of market development stage and region.
Owing to the significant role of financial sector reforms in economic growth, several studies have examined its transmission channels. This paper focuses on the stock market channel by investigating ...the impact of financial sector reforms on stock market growth in Ghana from 1990 to 2019. A multidimensional index was constructed to measure the financial sector reforms. Employing fully modified least squares (FMOLS) and error-correction models, the findings reveal that financial sector reforms promote stock market growth in Ghana in the long run. By disaggregating the financial sector reforms, the findings reveal that competitive reform has the highest impact followed by behavioural and privatisation reforms respectively. Finally, the findings reveal a bi-causal relationship between financial sector reforms and stock market growth. The paper thus implores the Securities and Exchange Commission (SEC) to reinforce its supervisory role, policy implementation, and investor protection laws to ensure greater compliance with the reforms. In addition, macroeconomic policies that are helpful to the growth of the capital market must be deepened to stimulate expected growth in the Ghanaian stock market.
Different perspectives on the diffusion of technologies have suggested that market growth of technologies in late adopter countries may be either slower (because the technology is adopted later in ...areas where the technology has poorer economic performance) or faster (because global experience has resulted in maturation and improved performance of the technology). We compare the pace of market growth of wind and PV power in early and late adopters. We use panel data analysis on a database spanning all countries of the world, and years 1980–2014. We find that late adopters manage to access the global experience with these technologies, and utilize it to accelerate domestic market growth. Despite their lower GDP, late adopter countries have managed market growth for wind power that was up to 4.7 times faster than it was in early adopters, and up to 16 times faster for PV. These results suggest increased development efforts of novel clean-tech may kick-start rapid global deployment. Beneficial effects are less for very late adopters and less developed economies, signalling attention is needed for these in global climate change mitigation efforts.
•We compare the pace of market growth of wind and PV in early and late adopters.•Negative effect of lower GDP are offset by accelerating effect of global experience.•Late adopter markets grow up to 4.7 times faster for wind, and up to 16 times for PV.•Effects are non-linear: early followers benefit more than very late adopters.•Increased development efforts of clean-tech may kick-start rapid global deployment.
PurposeThe aim of this Education Briefing is to comment upon the construction and role of the capitalisation rate in the valuation of property assets and how the implicit assumptions of growth are ...market derived and may be considered more robust than the use of growth explicit discounted cash flow (DCF) models where explicit growth assumptions can be questioned.Design/methodology/approachThis Education Briefing will look at the role of analysing initial yields to derive market capitalisation rates, and it will look at component parts of the yield to isolate growth assumptions and compare property returns to the government bond market.FindingsLooking at the Maltese market, the briefing shows that the valuer needs to be aware of the advantages and disadvantages of implicit and explicit valuation models.Practical implicationsThe choice of valuation model is dependent upon the availability of suitable comparable information and the appropriateness of the model for the market in question. More transparent markets can benefit from the use of explicit models but where information is less available, such as the Maltese market, implicit models may be considered more robust at estimating market value.Originality/valueThis is an Education Briefing discussing the construction and applicability of implicit valuation models using a market capitalisation rate.
The size of E-commerce market in Japan continues to grow, particularly, for Fast Moving Consumer Goods (FMCG). The aim of this study is to understand online channel use behavior, assuming that the ...growth of a consumers' online channel use continues. The authors proposed a Latent Growth Model to estimate the online purchase incidences (purchase or non-purchase) in FMCG. As a result, the authors identified consumer characteristics that the consumers who are likely to purchase online have a lot of time, make bulk purchases and the consumers whose online purchasing increase are time-constrained for shopping, make purchases in holidays, have high price sensitivity. It is also suggested that understanding purchase characteristics (not demographics) is important in a longitudinal perspective. Furthermore, online purchasing in FMCG has strongly influenced the experiences of the usage of EC website on PCs compared with mobile. However, the authors also suggested that the influence of mobile is increasing by consumers gaining experience over time.
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