Value creation in industrial clusters: the strategic nature of relationships with stakeholders and the policy environment

2020 ◽  
Vol 13 (4) ◽  
pp. 535-550 ◽  
Author(s):  
Subrata Chakrabarty
Keyword(s):  
Conceptual Framework ◽  
Stakeholder Theory ◽  
Value Creation ◽  
Industrial Cluster ◽  
Industrial Clusters ◽  
Policy Environment ◽  
High Concentration ◽  
Relational View ◽  
Content Type ◽  
Stakeholder Relationships

PurposeGiven that an industrial cluster contains a high concentration of numerous stakeholders, a firm in an industrial cluster often ends up forming relationships with many of the stakeholders. The research questions are as follows: Does stakeholder-based management always lead to greater value creation? What are the moderators in this association? This paper proposes that although relationships with stakeholders can act as a “catalyst” for value-creation, they can also act as a “retardant.” A combination of (1) the strategic nature of the relationships and (2) the policy environment determines whether the relationships with stakeholders act as catalysts or retardants.Design/methodology/approachUsing relationship-focused theory, a conceptual framework that adopts a relational view of stakeholder theory is developed. Given the high concentration of stakeholders in industrial clusters, the conceptual framework uses stakeholders in industrial clusters as a setting. A firm can form relationships with a variety of stakeholders in an industrial cluster. The strategic nature of a relationship with a stakeholder is assessed in terms of variations in strategic intent and intellectual spillover.FindingsThe key argument is the following: whether a relationship with a stakeholder becomes a catalyst or a retardant for value creation is contingent on the fit between the strategic nature of the relationship and the policy environment. For instance, in a probusiness policy environment, relying on relationships with stakeholders that maximize intellectual spillover can act as a catalyst for value creation. In contrast, in an antibusiness environment, not having to rely on intellectual spillover is a safer option.Originality/valueWhereas the literature implicitly assumes that stakeholder theory has relational essence, the conceptual framework developed in this paper adopts a relational view of stakeholder theory in a very explicit way. This paper applies relationship-focused theory by making explicit the different forms of stakeholder relationships. Such an explicitly relational approach in theorizing can help in more in-depth research on the link between stakeholder relationships and value creation. The conceptual framework will allow future research to analyze value creation in an industrial cluster, especially in terms of how stakeholder relationships can act as either catalysts or retardants.

Sustainable development early warning and financing risk management of resource-based industrial clusters using optimization algorithms

2022 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Yawen Wang ◽  
Weixian Xue
Keyword(s):  
Risk Assessment ◽  
Early Warning ◽  
Industrial Cluster ◽  
Industrial Clusters ◽  
Shaanxi Province ◽  
Support Vector ◽  
Content Type ◽  
Financing Risk ◽  
Yulin City ◽  
Warning Model

PurposeThe purpose is to analyze and discuss the sustainable development (SD) and financing risk assessment (FRA) of resource-based industrial clusters under the Internet of Things (IoT) economy and promote the application of Machine Learning methods and intelligent optimization algorithms in FRA.Design/methodology/approachThis study used the Support Vector Machine (SVM) algorithm that is analyzed together with the Genetic Algorithm (GA) and Ant Colony Optimization (ACO) algorithm. First, Yulin City in Shaanxi Province is selected for case analysis. Then, resource-based industrial clusters are studied, and an SD early-warning model is implemented. Then, the financing Risk Assessment Index System is established from the perspective of construction-operation-transfer. Finally, the risk assessment results of Support Vector Regression (SVR) and ACO-based SVR (ACO-SVR) are analyzed.FindingsThe results show that the overall sustainability of resource-based industrial clusters and IoT industrial clusters is good in the Yulin City of Shaanxi Province, and the early warning model of GA-based SVR (GA-SVR) has been achieved good results. Yulin City shows an excellent SD momentum in the resource-based industrial cluster, but there are still some risks. Therefore, it is necessary to promote the industrial structure of SD and improve the stability of the resource-based industrial cluster for Yulin City.Originality/valueThe results can provide a direction for the research on the early warning and evaluation of the SD-oriented resource-based industrial clusters and the IoT industrial clusters, promoting the application of SVM technology in the engineering field.

scholarly journals Accountability and governance in pursuit of Sustainable Development Goals: conceptualising how governments create value

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Subhash Abhayawansa ◽  
Carol A. Adams ◽  
Cristina Neesham
Keyword(s):  
Sustainable Development ◽  
Civil Society ◽  
Conceptual Framework ◽  
Value Creation ◽  
Policy Development ◽  
Sustainable Development Goals ◽  
Stakeholder Participation ◽  
Content Type ◽  
Development Goals ◽  
National Governments

PurposeDrawing on Adams (2017a) conceptualisation of value creation by organisations published in the Accounting, Auditing and Accountability Journal, the purpose of this paper is to develop a conceptualisation of how national governments can create value for society and the economy through their approach to the UN Sustainable Development Goals (SDGs).Design/methodology/approachAn initial conceptual framework was developed from literature situated at the intersection of accountability, public policy and sustainability/sustainable development. The authors' review of extant research on national policy development on value creation, sustainability and the SDGs identified gaps in (understanding of) approaches to national accountability and national governance (by state and civil society) processes. The subsequent thematic analysis of 164 written submissions made to the Australian Senate inquiry on the SDGs between December 2017 and March 2018, together with transcripts of five public hearings where 49 individuals and organisations appeared as witnesses during the second half of 2018, focussed on addressing these gaps.FindingsInput to the Australian Senate Inquiry on the SDGs overwhelmingly emphasised the importance of transparency and stakeholder participation in accountability systems, commenting on data gathering, measuring and communicating. There was an emphasis on the need to involve all parts of society, including business, investors and civil society, and for strong central co-ordination by the Office of the Prime Minister and Cabinet. These data allowed the authors to refine the conceptualisation of how national governments can enhance social and economic value through a focus on the UN SDGs and their approach to accounting, accountability and governance.Practical implicationsThe findings have implications: for national governments in developing approaches to achieve sustainable development; and, for supranational bodies such as the UN in developing agreements, frameworks and guidance for national governments.Originality/valueBuilding on the extant literature about how global governance should be engaged to improve accountability in achieving the SDGs, the conceptual framework developed through the study shifts focus to national governance and accountability, and provides a blueprint for national governments to create value for the economy and society in the face of global sustainable development issues.

Using artificial intelligence to create value in insurance

2018 ◽  
Vol 36 (6) ◽  
pp. 1145-1168 ◽  
Author(s):  
Mikko Riikkinen ◽  
Hannu Saarijärvi ◽  
Peter Sarlin ◽  
Ilkka Lähteenmäki
Keyword(s):  
Artificial Intelligence ◽  
Conceptual Framework ◽  
Value Creation ◽  
Illustrative Case ◽  
Content Type ◽  
Customer Data ◽  
Case Examples ◽  
Service Logic ◽  
Access To Data ◽  
Convenient Access

Purpose Recent technological and digital developments have opened new avenues for customer data utilization in insurance services. One form of this data transformation is automated chatbots that provide convenient access to data leveraged through a discussion-like interface. The purpose of this paper is to uncover how insurance chatbots support customers’ value creation. Design/methodology/approach Three complementary theoretical perspectives – artificial intelligence, service logic, and reverse use of customer data – are briefly discussed and integrated into a conceptual framework. The suggested framework is further shown through illustrative case examples that characterize different ways of supporting customers’ value creation. Findings Chatbots represent a new type of interaction through which companies can influence customers’ value creation by providing them with additional resources. Based on the proposed conceptual framework and the illustrative case examples, four metaphors are identified that characterize how insurance chatbots can support customers’ value creation. Research limitations/implications The study is conceptual in nature, and the case examples are used for illustrative purposes. No representative data from those users who will eventually determine whether chatbots are of value was used. Practical implications Using the suggested framework, which is aligned with provider service logic, insurance companies can consider what kind of a role they wish to play in customers’ value-creating processes. Originality/value Automated chatbots provide convenient access to data leveraged through a discussion-like interface. This study is among the earliest to address their value-creating potential in insurance.

scholarly journals Transforming the stakeholders’ Big Data for intellectual capital management

2018 ◽  
Vol 26 (3) ◽  
pp. 420-442 ◽  
Author(s):  
Lorna Uden ◽  
Pasquale Del Vecchio
Keyword(s):  
Big Data ◽  
Conceptual Framework ◽  
Activity Theory ◽  
Intellectual Capital ◽  
Value Creation ◽  
Organizational Values ◽  
Service Science ◽  
Future Research ◽  
Content Type ◽  
Service Ecosystems

PurposeThis paper aims to define a conceptual framework for transforming Big Data into organizational value by focussing on the perspectives of service science and activity theory. In coherence with the agenda on evolutionary research on intellectual capital (IC), the study also provides momentum for researchers and scholars to explore emerging trends and implications of Big Data for IC management.Design/methodology/approachThe paper adopts a qualitative and integrated research method based on a constructive review of existing literature related to IC management, Big Data, service science and activity theory to identify features and processes of a conceptual framework emerging at the intersection of previously identified research topics.FindingsThe proposed framework harnesses the power of Big Data, collectively created by the engagement of multiple stakeholders based on the concepts of service ecosystems, by using activity theory. The transformation of Big Data for IC management addresses the process of value creation based on a set of critical dimensions useful to identify goals, main actors and stakeholders, processes and motivations.Research limitations/implicationsThe paper indicates how organizational values can be created from Big Data through the co-creation of value in service ecosystems. Activity theory is used as theoretical lens to support IC ecosystem development. This research is exploratory; the framework offers opportunities for refinement and can be used to spearhead directions for future research.Practical implicationsThe paper proposes a framework for transforming Big Data into organizational values for IC management in the context of entrepreneurial universities as pivotal contexts of observation that can be replicated in different fields. The framework provides guidelines that can be used to help organizations intending to embark on the emerging paradigm of Big Data for IC management for their competitive advantages.Originality/valueThe paper’s originality is in bringing together research from Big Data, value co-creation from service ecosystems and activity theory to address the complex issues involved in IC management. A further element of originality offered involves integrating such multidisciplinary perspectives as a lens for shaping the complex process of value creation from Big Data in relationship to IC management. The concept of how IC ecosystems can be designed is also introduced.

A research on the cluster competitiveness evaluation of the Chinese automobile industry based on cuckoo-AHP

2016 ◽  
Vol 10 (4) ◽  
pp. 746-769 ◽  
Author(s):  
Xiujie Wang ◽  
Jian Liu ◽  
Can Ma
Keyword(s):  
Automobile Industry ◽  
Evaluation Method ◽  
Industrial Cluster ◽  
Cuckoo Search ◽  
Evaluation Methods ◽  
Industrial Clusters ◽  
Evaluation Index System ◽  
Evaluation Index ◽  
Content Type ◽  
Cluster Development

Purpose The purpose of this study is that on the basis of the competitive edge theory, source mechanism and evaluation approaches of industrial cluster competitiveness, combined with international trends in the automobile industry and the features of Chinese automobile industrial cluster development, an evaluation index system about cluster competitiveness of auto industry is built with comprehensive consideration of factors such as cluster development environment, external scale effect and internal competitiveness from the perspective of value chain of automobile industry. Design/methodology/approach An evaluation index system for automobile industrial cluster competitiveness was realized by integrating current strengths and future growth capacities with multidimensional, dynamic and comprehensive characteristics, which included 3 second-level, 10 third-level and 16 fourth-level indices. In the light of evaluation methods, a group intelligence optimization algorithm – (cuckoo search) – and traditional methods of complex decision-making system – analytic hierarchy process (AHP) – were combined to propose the cuckoo-AHP evaluation method. It was applied for the calculation and optimization of weight values in an automobile industrial cluster competitiveness evaluation index for the purpose of obtaining better scientific and more reliable results. Findings The research might further enrich the evaluation theory of automobile industrial cluster competitiveness and also can be useful for showing how traditional evaluation methods can be combined with intelligent algorithms to carry out better automobile industrial cluster competitiveness evaluations. In addition, studies of channels for kick-starting Chinese auto industrial cluster competitiveness are expected to provide references for how to enhance the cluster competitiveness of the Chinese automobile industry. Practical implications Changsha and Liuzhou, the Guangxi automobile industrial clusters as the two empirical analysis objects selected for this paper, are geographically adjacent to each other. The automobile industries of the two cities are local pillar industries with the strong support of the local government. Both clusters have their own advantages and weak points with different characteristics of cluster development, and they enjoy a representative significance amongst China’s numerous auto industrial clusters that are taking shape. Comparative analysis of both clusters serves as a good reference for the objective evaluation of the competitiveness of Chinese automobile clusters in terms of their real and practical developments and in respect of the success of reasonable scientific and industrial cluster policies. Originality/value Multidimensional, dynamic, integrated evaluation index systems are constructed around automobile industrial cluster competitiveness, which has taken into account developments in current strengths and future growth capacity. The cuckoo-AHP evaluation method has been formed by combining the traditional decision-making method known as AHP with a new meta-heuristic optimization algorithm called “cuckoo search”. Both have been used in evaluations of automobile industrial cluster competitiveness in Liuzhou and Changsha, which will be beneficial for enriching automobile industrial cluster competitiveness evaluation theory and new evaluation methods that will enable better evaluations of automobile industrial cluster competitiveness.

How much is enough? The role of effort in market shaping

2020 ◽  
Vol 35 (9) ◽  
pp. 1441-1451
Author(s):  
Gediminas Lipnickas ◽  
Jodie Conduit ◽  
Carolin Plewa ◽  
Dean Wilkie
Keyword(s):  
Conceptual Framework ◽  
Value Creation ◽  
Future Market ◽  
Content Type ◽  
Resource Density ◽  
Potential Resource ◽  
Conceptual Paper ◽  
Effort Reduction ◽  
Market Shaping

Purpose Market shaping research predominantly focusses on the activities of the market shaper, rather than the equally important roles of other market actors. Market shapers may enhance resource density and value creation within markets, yet such influences cannot exhaustively explain how markets get shaped. Other market actors also must and do exert effort in the value co-creation processes; this study aims to explore the effects of reducing their efforts, as a mechanism to facilitate market shaping. Design/methodology/approach This conceptual paper uses a theory adaptation approach to link value co-creation with market shaping and effort. It offers a conceptual framework and five propositions that outline the role of effort reduction in the value co-creation process to achieve market shaping. Findings The proposed conceptual framework indicates how enhanced resource density, resulting from the firm’s market shaping activities and reduced effort lead to enhanced value creation for market actors. Effort reduction can be achieved by reducing either the level of resource input required or the activities required to access, transform and combine resources to co-create value. Potential resource flows then may benefit the market shaper. Originality/value This research contributes to emergent market shaping literature by offering effort reduction as a viable tactic. Specifically, it broadens the scope of consideration of effort in value co-creation, and it advances understanding of resource density as a focal market shaping construct. The resultant framework offers a foundation for future market shaping research.

The impact of industrial clusters on human resource and firms performance

2014 ◽  
Vol 9 (2) ◽  
pp. 141-159 ◽  
Author(s):  
Maw-Shin Hsu ◽  
Yung-Lung Lai ◽  
Feng-Jhy Lin
Keyword(s):  
Human Resources ◽  
Positive Impact ◽  
Industrial Cluster ◽  
Industrial Clusters ◽  
Global Market ◽  
Content Type ◽  
Key Factor ◽  
The Face ◽  
Processing Zone ◽  
The Impact

Purpose – The purpose of this study was to explore the impact of the formation of industrial clusters on the obtainment of professional human resources, to verify the impact of human resources on clustering relationships and firm’s performance and to understand whether the formation of clusters can contribute to the obtainment of professional human resources and the improvement of competitiveness of enterprises. It was expected that solutions could be found to make new contributions through the verification of special economic zones (SEZs). Design/methodology/approach – Using manufacturers in Taiwan’s SEZs as the subjects, this study explored the impact on the obtainment of professional human resources after the formation of industrial clusters in SEZs, through conducting and empirical study with a questionnaire survey. Findings – The professional human resources are the essential factor for the formation of industrial clusters and the improvement of competitiveness. This study also confirmed that industries can have professional human resources by industrial clustering and that this will produce a positive impact on the enterprise clustering relationships, which can also have a positive impact on firm’s performance and can enhance the enterprise’s competitive advantage. Practical implications – Industrial clustering is the key factor to attract professional human resources; industrial clusters can enhance firm’s performance; and professional human resources affect firm’s performance of enterprises. Originality/value – No study has discussed the topic of clusters from the perspective of SEZs also including six export processing zone (EPZ) parks in Taiwan. This study discussed the topic using theories relating to clustering and human resources. The formation of industrial clusters can result in higher competitiveness in the face of the global market. The EPZ industrial cluster provides an excellent investment environment. Coupled with one-stop express services and geographic advantage, the land-use rate is up to 97 per cent and the per hectare output value amounts to NTD 3.2 billion, setting a successful example of an industrial cluster.

scholarly journals A stakeholder theory approach to creating value in higher education institutions

2020 ◽  
Vol 33 (4) ◽  
pp. 297-313
Author(s):  
Taiguara de Freitas Langrafe ◽  
Simone Ruchdi Barakat ◽  
Fabricio Stocker ◽  
Joao Maurício Gama Boaventura
Keyword(s):  
Higher Education ◽  
Stakeholder Theory ◽  
Planning Process ◽  
Stakeholder Management ◽  
Higher Education Institutions ◽  
Theory Approach ◽  
Sustainable Competitive Advantage ◽  
Decision Makin ◽  
Content Type ◽  
Stakeholder Relationships

Purpose This paper aims to empirically verify whether the development of improved relationships between higher education institutions (HEIs) and their stakeholders based on the principles of stakeholder theory creates more value. Design/methodology/approach The methods involve a quantitative approach, with the data collection being carried out through a survey of 88 heads of HEIs in Brazil. The paper uses the Spearman’s correlation coefficient to analyze the data and test the hypotheses. Findings The findings reinforce the arguments found in the stakeholder theory literature, in which relationships are based on the following principles: knowledge and information sharing, mutual trust, involvement in the decision-makin g process and alignment of stakeholders’ interests in the strategic planning process, all of which create more value for organizations. Practical implications This study seeks to improve the knowledge of stakeholder theory in relation to HEIs. It identifies the stakeholder relationships that create the most value and have the potential to generate a sustainable competitive advantage. The results can help managers to improve their relationships with stakeholders and may encourage the implementation of practices and policies that consider stakeholders’ influence on the strategic direction of HEIs. Social implications The studies present a social contribution by evidencing the importance of the development of best practices, processes and strategies in the management of educational institutions, which are important actors in the development of society. Originality/value The originality of this paper is that it empirically tests the principles of stakeholder theory and their relationships with value creation for organizations in the higher education context. Whilst stakeholder theory has been explored in multiples contexts, there is a lack of studies addressing stakeholder management in HEIs.

scholarly journals Value creation disclosure: the international integrated reporting framework revisited in the light of stakeholder theory

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Renata Paola Dameri ◽  
Pier Maria Ferrando
Keyword(s):  
Stakeholder Theory ◽  
Value Creation ◽  
Sustainability Reporting ◽  
The European Union ◽  
Integrated Reporting ◽  
Health Care Organisation ◽  
Content Type ◽  
Non Profit ◽  
Reporting Framework ◽  
Depth Analysis

Purpose The paper aims to propose an integrated reporting (IR) framework rooted in Freeman’s stakeholder theory (ST). The proposed framework modifies the international integrated reporting framework (IIRF) and aims to overcome criticisms related to its focus on investors and the abandonment of sustainability. Design/methodology/approach The paper develops a modified IIRF based on an in-depth analysis of the IR and ST literature. The framework was then applied to a non-profit health-care organisation to verify its theoretical assumptions. Findings The modified IIRF was conceived as a ready-to-use tool. By applying it to a business case, it was validated with respect to whether and how it could help achieve better and more stakeholder-oriented reporting. The findings enabled us to validate the use of the tool not only for reporting but also for the self-assessment of organisations with respect to embedding ST. Research limitations/implications The modified IIRF was implemented only in one case, and further implementations are needed to comprehensively identify its strengths and weaknesses, both in for-profit and non-profit organisations. Practical implications The revised IIRF represents an updated tool for reporting and disclosing the value created by an organisation for itself and for its stakeholders including the external entities affected by the impacts engendered by the organisation. In this way, the IIRF can give visibility to all value created and the value creation process, including sustainability matters. This allows integrated thinking processes to be incorporated accordingly, supporting better management. Originality/value This paper suggests three adjustments to improve the IIRF’s ability to incorporate ST as a theoretical foundation. The adjusted IIRF is a ready to-use-tool specifically highlighting what value or values an organisation delivers (its outcomes), for whom (its stakeholders) and how (its specific business processes) within a business model effectively connecting them. From this point of view, it fits the rising stream about the evolution of the sustainability reporting fostered jointly by the international integrated reporting council and sustainability accounting standard board, and by the European Union.

scholarly journals Future service technologies and value creation

2019 ◽  
Vol 33 (4) ◽  
pp. 502-506 ◽  
Author(s):  
Per Kristensson
Keyword(s):  
Conceptual Framework ◽  
Value Creation ◽  
Value Chain ◽  
Design Methodology ◽  
Content Type ◽  
Innovative Technologies ◽  
A Value

Purpose The purpose of this paper is to propose a framework for understanding, predicting and analyzing how future service technologies can lead to value co-creation at different stages of a value chain. Design/methodology/approach For organizations, future service technologies are growing in importance and will become a crucial means to survival. It is clear that future service technologies will increase the opportunity to reduce costs and create efficiency, but it is not equally clear how future service technologies enable value creation for customers and users. On this premise, the study proposes a conceptual framework. Findings The framework illustrates how future service technologies can lead to value creation for customers. The paper also portrays opportunities and potential pitfalls with future service technologies for organizations. Originality/value Several researchers are focusing on innovative technologies. Many business companies are talking about how to implement them and increase their profit. However, less attention is devoted to the ways in which future service technologies will lead to benefits and the experience of service for customers and users using them. This paper represents an original attempt to illustrate that.

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