A leader's guide to innovation in the experience economy

2014 ◽  
Vol 42 (1) ◽  
pp. 24-29 ◽  
Author(s):  
B. Joseph Pine II ◽  
James H. Gilmore
Keyword(s):  
Digital Technology ◽  
Design Methodology ◽  
State Of The Art ◽  
Economic Value ◽  
Service Innovation ◽  
Experience Economy ◽  
Content Type ◽  
Functional Activities ◽  
Transformative Experiences ◽  
Practical Implications

Purpose – To succeed in the rapidly evolving experience economy executives must think differently about how they create economic value for their customers. Design/methodology/approach – Five value-creating opportunities are likely to drive further progress in the dynamic experience economy: customizing goods; enhancing services; charging for experiences; fusing digital technology with reality; and transformative experiences, a promising frontier. Findings – For leaders, five insights about the value-creating opportunities are key to achieving success via state-of-the-art experience staging, and they provide tested guidelines for managing in the experience economy, now and into the future. Practical implications – A huge first step in staging more engaging experiences is embracing the principle that work is theatre. So businesses should ask: What acts of theatre would turn our workers' functional activities into memorable events? Originality/value – Three key lessons: innovation to create high-quality experiences that customers will pay for is even more important than goods or service innovation. When you customize an experience, you automatically turn it into a transformation. Companies enabling transformations should charge not merely for time but for the change resulting from that time.

How B2B companies create economic value by designing experiences and transformations for their customers

2015 ◽  
Vol 43 (3) ◽  
pp. 2-6 ◽  
Author(s):  
B. Joseph Pine
Keyword(s):  
Value Creation ◽  
Design Methodology ◽  
Economic Value ◽  
Discovery Process ◽  
Experience Economy ◽  
Content Type ◽  
Goods And Services ◽  
Industrial Companies ◽  
Set Up ◽  
Practical Implications

Purpose – This article explains how B2B companies can create economic value by designing experiences and innovations that will be transformative for their customers. Design/methodology/approach – The article shows that B2B goods and services are increasingly marketed in an Experience Economy, an arena where interactions are based on what experiences buyers and their customers value. Findings – The big value creation insight is that industrial companies. like consumer product companies, can create breakthrough innovations by understanding, responding to and transforming the experience of their customers. But with B2B companies the experience discovery process extends to their customers’ customers. Practical implications – Almost any B2B business can be transformative if it aims its innovation efforts at satisfying its customers emerging needs and those of its customers’ customers. These are the aspirational outcomes that transformative companies provide. Originality/value – One of the first articles to show leadership of B2B companies and their marketing and research units how to set up experience demonstrations and development projects that involve their customers in the process of customization, innovation and transformation.

Corporate social responsibility practices developed by Mexican family and non-family businesses

2019 ◽  
Vol 9 (1) ◽  
pp. 40-53 ◽  
Author(s):  
José Luis Esparza Aguilar
Keyword(s):  
Design Methodology ◽  
State Of The Art ◽  
Family Businesses ◽  
University Education ◽  
Quintana Roo ◽  
Southern State ◽  
Content Type ◽  
Mexican Family ◽  
Corporate Social ◽  
Practical Implications

Purpose The purpose of this paper is to identify the CSR practices developed by Mexican family and non-family MSMEs. The study also aims to compare the CSR practices carried out by family and non-family businesses in a country with an emergent economy. Design/methodology/approach The paper opted for an exploratory study using a sample of 384 businesses was selected in the southern state of Quintana Roo, Mexico, distributed in 245 family and 139 non-family businesses and a questionnaire was applied directly to the managers/owners. Findings The results show that family MSMEs develop CSR practices to a higher extent than non-family ones, mainly on environment and societal dimensions. In addition, CSR practices in family-owned enterprises develop to a higher extent when the manager/owner has more years of experience in the business, has a higher university education and the size of the business is larger. Research limitations/implications The study was developed exclusively with a MSMEs sample with a scope only on the southern part of Quintana Roo, Mexico; the shortage of business databases and the stratification of businesses based exclusively on the number of employees. This work presents information that contributes to the state of the art, broadening the existing literature related to CSR in businesses of a country with an emergent economy and an environment where the tourism and commercial sectors predominate. Practical implications This paper provides information to government institutions for the establishment of public policies targeted for an increase of CSR activities by businesses in the area. Manager and/or owners can understand the importance of implementing CSR activities within the business as a competitive strategy. It is also important for universities, professors/researchers and for all interested parties. Originality/value This paper provides theoretical and empirical evidence about CSR practices carried out among family and non-family MSMEs in an emergent economy.

The new marketing solutions that will drive strategy implementation

2016 ◽  
Vol 44 (3) ◽  
pp. 20-26 ◽  
Author(s):  
Kenneth Alan Grossberg
Keyword(s):  
Social Media ◽  
Digital Technology ◽  
Design Methodology ◽  
Content Type ◽  
Marketing Automation ◽  
Marketing Innovation ◽  
The Social ◽  
Efficiency And Effectiveness ◽  
Media Platform ◽  
Practical Implications

Purpose Delineate the strategic implications for three new marketing trends based on digital technology. Design/methodology/approach The author looks at how strategy is being affected by: Marketing automation, where artificial intelligence is used to help win a customer and optimize the search for such potential prospects. Social media, which blends the personal and the businesslike and provides opportunities for engagement with the client on an almost real-time, personalized basis. The manipulation of huge quantities of “Big Data” to increase the efficiency and effectiveness of marketing automation and of deriving value from social media. Findings Under all emerging digital technology scenarios, the marketer’s job becomes more complex and more central to the interaction between the customers and the corporation. Practical implications Social marketing will increasingly involve co-creation of product and brand story with customers, experienced-based marketing and more sophisticated management of the interface between the social media platform and automated marketing. Originality/value This article identifies the integral relationship between advances in marketing technology and strategic opportunities for marketing innovation.

HR’s new role: rethinking and enabling digital engagement

2017 ◽  
Vol 16 (2) ◽  
pp. 60-65 ◽  
Author(s):  
Ravin Jesuthasan
Keyword(s):  
Best Practices ◽  
Digital Technology ◽  
Design Methodology ◽  
Industrial Revolution ◽  
Digital Technologies ◽  
Content Type ◽  
Future Of Work ◽  
The Future ◽  
Digital Engagement ◽  
Practical Implications

Purpose This paper aims to explore how a new industrial revolution with digital technology at its core is disrupting the workplace. It shares how HR has an opportunity to use data and digital technologies to reinvent how organizations engage with their workforce. It answers the question of how HR pivots from its legacy focus on compliance and being a steward of employment to the work and helping the organization strengthen its connection with its workers through improved digital engagement. Design/methodology/approach The paper is based on Willis Towers Watson thought leadership and references recent findings from their research. Findings The paper explores how digital technologies have changed how workers connect with their co-workers and the organization. In addition, it examines how digital technologies are changing how work gets done. Research limitations/implications The paper is not exclusively based on research. Practical implications The paper explores how digital technologies drive engagement, HR’s role as steward of the work and enabler of digital engagement and best practices for enabling digital engagement in the modern workplace. Originality/value This paper fulfills a need to assist HR leaders in thinking through the implications of the future of work and how digital technologies will shape that future.

Entrepreneurship and fintech development: comparing reward and equity crowdfunding

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ciro Troise ◽  
Diego Matricano ◽  
Elena Candelo ◽  
Mario Sorrentino
Keyword(s):  
Design Methodology ◽  
State Of The Art ◽  
Methodological Approach ◽  
Point Of View ◽  
Comparative Approach ◽  
Current Debate ◽  
Content Type ◽  
Equity Crowdfunding ◽  
Research Propositions ◽  
Practical Implications

Purpose Starting from the state-of-the-art of Fintech development, this study aims to propose some research propositions comparing reward-crowdfunding (RCF) and equity-crowdfunding (ECF). In this sense, the present research provides a comprehensive analysis of fintech development and – to conceptualize the comparison between RCF and ECF – it focuses on campaigns’ characteristics, aims and post-campaigns scenarios. Design/methodology/approach All the research propositions related to the comparison between RCF and ECF are rooted in dedicated literature. The methodological approach adopted in the present paper can be referred to theorizing. Findings This study suggests that five key elements characterize the development of fintech: regulation, infrastructure, technologies, finance and innovations. The research provides nine propositions: four related to the campaigns’ characteristics; two related to the use of crowdfunding models by entrepreneurs; and three related to the performance of crowdfunded companies. Practical implications By offering nine research propositions, this study is expected to foster and support the investigation of fintech development from an entrepreneurial and managerial point of view. Originality/value To the best of authors’ knowledge, this study is among the first to explore the fintech development and to propose a comparative approach between RCF and ECF. This research contributes to the current debate on fintech development as well as on the comparison between crowdfunding models.

Should my firm adopt cloud computing?

2019 ◽  
Vol 35 (10) ◽  
pp. 15-17
Keyword(s):  
Cloud Computing ◽  
Design Methodology ◽  
Service Innovation ◽  
Small Companies ◽  
Content Type ◽  
Computing Services ◽  
Product Service ◽  
Cloud Computing Services ◽  
Pertinent Information ◽  
Practical Implications

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings This research paper concentrates on factors that determine the propensity of large and small European companies to adopt cloud computing services. The results demonstrate that companies of all sizes can benefit from CC as a strategic vehicle for reducing ICT costs, for achieving product/service innovation, and to save costs on their sophisticated administrative systems. Furthermore some additional factors apply only to small companies. Originality/value The briefing saves busy executives, strategists and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Exploiting digital technology

2020 ◽  
Vol 36 (11) ◽  
pp. 13-15
Keyword(s):  
Case Studies ◽  
Digital Technology ◽  
Design Methodology ◽  
Reading Time ◽  
Digital Transformation ◽  
Cutting Edge ◽  
Content Type ◽  
Incremental Change ◽  
Pertinent Information ◽  
Practical Implications

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings Successful digital transformation demands a shift away from traditional linear approaches. This detailed article instead proposes a shift toward strategies based on experimentation and incremental change to secure a succession of temporary advantages. Originality/value The briefing saves busy executives and researchers’ hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Accessible and inclusive tourism: why it is so important for destination branding?

2020 ◽  
Vol 12 (6) ◽  
pp. 719-723
Author(s):  
Pedro Machado
Keyword(s):  
Sustainable Development ◽  
Design Methodology ◽  
State Of The Art ◽  
Active Part ◽  
Tourist Destination ◽  
Destination Branding ◽  
Content Type ◽  
Tourism Destinations ◽  
Destination Brand ◽  
Practical Implications

Purpose By embracing the entire community of travellers, despite their capacity, tourism destinations that have the opportunity to appeal to the art of inclusive tourism policies in the Center of Portugal, are analyzed, showing the importance for a tourist destination to adapt these policies to the notoriety of the destination brand. Design/methodology/approach This paper offers a practical viewpoint based on the state-of-the-art of public policies relating to inclusive and accessible tourism in the Center of Portugal and their impacts on the destination branding. Findings Taking into account the territorial specificity of the Center of Portugal, the asymmetries of development and cohesion, Tourism Center of Portugal (TCP) has sought to develop projects and actions in partnership with the different actors in the territory that promote territorial cohesion, integrated and sustainable development and the attractiveness of the inland region. Practical implications All the projects developed to support accessible and inclusive tourism, in which TCP is an active part, create a network of tourist services to become destinations more accessible and inclusive for everyone. Originality/value Inclusive and accessible tourism is little explored by DMOs. In this paper, the case of the Center of Portugal region is presented, highlighting a series of unprecedented initiatives that are being developed, aiming to provide the destination with unique points of differentiation.

How to wow with service innovation

2015 ◽  
Vol 31 (9) ◽  
pp. 21-24
Keyword(s):  
Case Studies ◽  
Design Methodology ◽  
Reading Time ◽  
Life Stage ◽  
Service Innovation ◽  
Quality Information ◽  
Sustainable Living ◽  
Content Type ◽  
Pertinent Information ◽  
Practical Implications

Purpose – This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach – This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings – The authors identified eight consumer trends, i.e. always on the go, always logged-in, quality information faster, nowism, look at me now, privacy, sustainable living and return on time (RoT), present across the three life-stage segments, i.e. young free and simple, chaos in my life and got my life back. Practical implications – The paper provides strategic insights and practical thinking that have influenced some of the world’s leading organizations. Originality/value – The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Constructing transformative scenarios for research and innovation futures

foresight ◽  
2016 ◽  
Vol 18 (3) ◽  
pp. 238-252 ◽  
Author(s):  
Lorenz Erdmann ◽  
Elna Schirrmeister
Keyword(s):  
Social Theory ◽  
Design Methodology ◽  
State Of The Art ◽  
Content Type ◽  
Research And Innovation ◽  
Time Horizons ◽  
Standard Scenario ◽  
Policy Measures ◽  
Multi Level ◽  
Practical Implications

Purpose This article aims to advance the state of the art in constructing transformative scenarios by building upon Boudon’s social theory and to reflect its application to research and innovation futures. Design/methodology/approach The scenarios are based upon a particular multi-level perspective for research and innovation. They are developed around two time horizons: an explorative scenario stage by 2020 (exploring tensions) and a transformative scenario stage by 2030 (tracing the mechanisms of transformation). Findings Five scenarios provide comprehensive images of research and innovation regimes and practices, how research and innovation is embedded in society by 2030, and what plausible pathways of evolution toward the transformation of our research and innovation landscape may look like. Research limitations/implications The methodology “from explorative to transformative scenarios” provides a meaningful, complementary perspective of standard scenario methodology rather than replacing it. Practical implications Foresight practitioners can use the methodology to advance the construction of transformative scenarios. The approach from “explorative to transformative scenarios” is best suited when policy measures are to be addressed. Originality/value There has been little guidance on how to construct transformative scenarios. Insights from social theory are leveraged to develop a more consolidated approach. The approach of two time horizons, encompassing an explorative and a transformative stage, is novel and applied to research and innovation futures.

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