scholarly journals The Qwerty Phenomenon: Its Relevance in a World with Creative Destruction

2017 ◽  
Vol 10 (2) ◽  
pp. 177-203
Author(s):  
Jens Weghake ◽  
Fabian Grabicki
Keyword(s):  
Network Effects ◽  
Business Models ◽  
Creative Destruction ◽  
Status Quo ◽  
Major Influence ◽  
High Tech ◽  
Market Participants ◽  
New Business ◽  
The Status ◽  
Pure Moment

AbstractDoes quality always win? Looking at the critical drivers of success in and efficiency of high-tech markets, two contrasting perspectives exist in the academic sector. One camp argues that the higher quality of a product or service exerts a major influence on its market success. Consequently, an inferior market player should not persist. The opposite group emphasises the importance of network effects, which can lead to lock-ins in inferior situations or being stuck in a bad equilibria accordingly, also known as the QWERTY phenomenon. In this paper, we investigate this debate. We demonstrate that the missing consideration of the status quo bias in previous studies leads to the rejection of the QWERTY phenomenon, which means that independent of the quality offered by a business or service the pure moment of who reaches the customer first, establishes a status quo from which it is hardly possible to escape. We give several examples with inferior market leaders. We suggest that this phenomenon causes only temporary harm, and lock-ins could be overcome by Schumpeterian creative destruction. Therefore, we claim that even if lock-ins exist, they pose no problems as innovative market participants have the opportunity to introduce new business models.

scholarly journals Out-of-the-box versus in-house tools: how are they affecting data journalism in Australia?

2020 ◽  
pp. 1329878X2096156
Author(s):  
Mathias-Felipe de-Lima-Santos ◽  
Aljosha Karim Schapals ◽  
Axel Bruns
Keyword(s):  
Public Service ◽  
Business Models ◽  
Digital Preservation ◽  
Status Quo ◽  
Third Party ◽  
Future Challenges ◽  
The Status ◽  
Data Journalism ◽  
Depth Interviews

The proliferation of data journalism has enabled newsrooms to deploy technologies for both mundane and more sophisticated workplace tasks. To bypass long-term investment in developing data skills, out-of-the-box software solutions are commonly used. Newsrooms today are partially dependent on third-party platforms to build interactive and visual stories – but the business models of platforms are predisposed to changes, frequently inducing losses of stories. This article combines in-depth interviews and an ancillary survey to study the status quo and identify future challenges in embracing out-of-the-box and in-house tools, and their impact on Australian data journalism. Results indicate a dichotomy between commercial and public service media organisations. Commercial outlets are heavily reliant on out-of-the-box solutions to develop stories, due to a lack of skillsets and a shortage of skilled labour. By contrast, public service media are developing their own in-house solutions, which reflects their desire for the continuous digital preservation of data stories despite the challenges identified.

scholarly journals A Networked Analysis and Engineering Framework for New Business Models

2019 ◽  
Vol 11 (21) ◽  
pp. 6018 ◽  
Author(s):  
Wolfgang Vorraber ◽  
Matthias Müller
Keyword(s):  
Network Effects ◽  
Business Models ◽  
Design Science ◽  
Science Research ◽  
Research Process ◽  
Practical Case ◽  
Analysis Tool ◽  
Sustainable Business ◽  
New Business ◽  
Sustainable Business Models

New technological possibilities and paradigm shifts from product-centered to service-centered offerings are one of the main drivers of business models. Business ventures today are more and more networked. Often, various partners are needed to deliver a service or product to frequently cross-linked customers with sometimes bi- or even multi-variant roles. Furthermore, business models are embedded in socio-technical systems where different kinds of needs and values of all actors, including social, ecological, technical and economic values, have to be balanced. The resulting complex network of actors, needs and values requires continuous management in order to create and operate viable and sustainable business models. This paper proposes a multi-layer framework to analyze existing business models as well as to shape new business ventures in a networked and values-based way and to support the identification of tacit network effects within business ecosystems. Based on an existing multi-layered analysis toolkit, focusing on legal and business dynamics aspects, an enhanced visualization and analysis tool is proposed that focuses especially on ethical, social and environmental aspects to foster the creation of (strongly) sustainable business models. The research process to create the presented approach followed the Design Science Research paradigm by applying argumentative-deductive analysis (ADA) and first applications in real-world case studies. A practical case from an international Open Source Software (OSS) project serves as an example to illustrate this values-based visualization and analysis layer and its benefits for managers and decision makers in the area of business model and information system management.

scholarly journals Digitalization of the economy as a pedagogical problem

2021 ◽  
Vol 27 (4) ◽  
pp. 99-106
Author(s):  
N. B. Strekalova ◽  
O. I. Podulybina
Keyword(s):  
Professional Training ◽  
Business Models ◽  
Scientific Literature ◽  
Digital Technologies ◽  
Digital Economy ◽  
High Tech ◽  
It Infrastructure ◽  
New Business ◽  
Main Components ◽  
New Business Models

The article provides an overview of trends in the digital economy that affect the professional training of a modern specialist. The essence of the concept of digitalization and its main components are determined, the author's interpretation of this concept is given. Particular attention is paid to the signs of a digital economy: the presence of a high-tech IT infrastructure, processing of big data based on modern digital technologies, the creation of digital solutions (products, platforms), the design of new business models. A theoretical analysis of scientific literature was carried out and a list of competencies that a specialist in the digital economy should possess was identified. To confirm the results obtained, an analysis of the opinions of employers was carried out, on the basis of which the most significant competencies and professional qualities of a specialist in the digital economy were identified. Based on the results of the analysis of employers' requirements for modern specialists, the tasks of vocational education for the training of a specialist in the digital economy were identified.

scholarly journals The Coronavirus Effect: Building Strategic Alliances in Today’s Universities and Colleges

2020 ◽  
Vol 6 (3) ◽  
pp. 1-6
Author(s):  
Daryl D Green ◽  
Jack McCann
Keyword(s):  
Strategic Alliances ◽  
Business Models ◽  
Short Communication ◽  
Status Quo ◽  
Business Leaders ◽  
Universities And Colleges ◽  
The Future ◽  
The Status ◽  
The Impact ◽  
Current Business

Due to disruptive changes such as COVID-19, universities can no longer afford to tackle these turbulent forces solely. In today’s hyercompetitive environment, companies that want to compete in the future understand that the status quo will not do. According to Accenture, 76% of business leaders surveyed agree that current business models will be “unrecognizable” in the next 5 years. Businesses that attempt to move forward against the backdrop of uncertainty and unpredictability with little or no partnerships will find it difficult to be successful. In this short communication, researchers examine how to build strategic alliances in a disruptive world marked by uncertainty and unpredictability, given the impact of COVID-19.

scholarly journals Regulating Fintech in the EU: the Case for a Guided Sandbox

2020 ◽  
Vol 11 (3) ◽  
pp. 604-629 ◽  
Author(s):  
Wolf-Georg RINGE ◽  
Christopher RUOF
Keyword(s):  
Business Models ◽  
Financial Regulation ◽  
Legal Framework ◽  
Business Practices ◽  
Eu Member States ◽  
Market Participants ◽  
New Business ◽  
Real Market ◽  
Regulatory Problems ◽  
The Eu

New financial technology holds the promise of innovation and competition, challenging established products and services and frequently improving market processes. However, regulation of these new services faces a double challenge: to keep pace with innovation and facilitate new market entries while at the same time understanding and managing the regulatory risks that are involved.At this stage, the existing EU regulatory framework is of little help: the bulk of the present body of financial regulation stems from a different time, with different regulatory problems in mind. EU regulation is also very slow to change and to adapt. Therefore, this paper proposes a regulatory “sandbox” – an experimentation space – as a step towards a regulatory environment where such new business models can thrive. A sandbox would allow market participants to test fintech services in the real market, with real consumers, but under the close scrutiny of the supervisor. The benefit of such an approach is that it fuels the development of new business practices and reduces the “time to market” cycle of financial innovation, while simultaneously safeguarding consumer protection. At the same time, a sandbox allows for mutual learning in a technical field which is sometimes poorly understood, both for firms and for the regulator. This would help to reduce the prevalent regulatory uncertainty for all market participants.In the particular EU legal framework with various layers of legal instruments, the implementation of such a sandbox is not straightforward. In this paper, we propose a “guided sandbox”, operated by the EU Member States, but with endorsement, support, and monitoring by EU institutions. This innovative approach would be somewhat uncharted territory for the EU, and thereby also contribute to the future development of EU financial market governance as a whole.

Internetkartellrecht

2015 ◽  
Vol 6 (4) ◽  
Author(s):  
Rupprecht Podszun ◽  
Marius Leber
Keyword(s):  
Network Effects ◽  
Business Models ◽  
Competition Law ◽  
The Internet ◽  
Internet Economics ◽  
Technology And Innovation ◽  
Internet Economy ◽  
New Business ◽  
Fast Pace ◽  
New Business Models

Technologie- und innovationsgetriebene Märkte stellen Kartellbehörden und Gerichte vor immer neue Herausforderungen. Kaum eine Branche ist in den vergangenen zehn bis fünfzehn Jahren so stark gewachsen wie der Onlinehandel. Für die Internetökonomie gelten dabei ganz eigene Regeln: Die Märkte sind oftmals mehrseitig und durch starke Netzwerkeffekte geprägt. Innovation und Information sind die entscheidenden Wettbewerbsparameter. Der Markt entwickelt sich rasant und bringt laufend neue Geschäftsmodelle hervor; die Online-Player agieren zumeist global und verzichten zunehmend auf Intermediäre. Die Autoren beleuchten die Internetökonomie aus kartellrechtlicher Sicht und skizzieren die deutsche und europäische Entscheidungspraxis der letzten Jahre aus den Bereichen Zusammenschlusskontrolle, Kartellverbot und Missbrauchsaufsicht anhand einiger richtungsweisender Fälle. Neben einer wettbewerbspolitischen Einordnung des Fallmaterials wirft der Beitrag einige Schlaglichter auf den Paradigmenwechsel bei der Kartellrechtsanwendung in der Digitalwirtschaft. Neben dem Aufbrechen von Innovationsschranken und Pfadabhängigkeiten gehört eine Auflösung zu eng gesteckter Märkte sowie die Offenhaltung für technische Entwicklungen zu den wesentlichen Eckpfeilern einer zukunftsorientierten Kartellrechtsanwendung. In der Internetökonomie kommt dem Hayek’schen „Wettbewerb als Entdeckungsverfahren“ eine ungeahnte Aktualität zu. Technology and innovation-driven markets pose a challenge for competition authorities and courts. There is hardly any sector that has grown as much in recent years as e-commerce. The Internet sector has its own rationale: Markets are often multi-sided and shaped by strong network effects. Innovation and information become important competitive parameters. Online markets evolve at a fast pace and yield myriad of new business models. Most of the online players operate on a global level and cut out intermediaries or distributors. The authors examine the Internet economy from a competition law perspective by means of a sample of landmark rulings of German and European courts and authorities. They evaluate the cases in terms of competition policy and define the paradigms for a future-oriented application of competition law in digital markets. In Internet economics Hayek’s „competition as a discovery procedure“ gains a new momentum.”

scholarly journals COVID-19 Pandemic and the Digital Revolution in Academia and Higher Education

2020 ◽  
Author(s):  
Wadim Strielkowski
Keyword(s):  
Higher Education ◽  
Real Life ◽  
Creative Destruction ◽  
Status Quo ◽  
Digital Revolution ◽  
Social Distancing ◽  
The Status ◽  
Final Exams

COVID-19 pandemic instigated a digital revolution in academia and higher education. Social distancing, months-long quarantine, as economic shutdown will help the majority of people working in academia and higher education not only to complete their personal transition to the fully functional and operational online tuition, but also to understand that online defences, online entrance and final exams, as well as online academic jobs are as effective and meaningful as those conducted “in real life”. Due to the crisis induced by the coronavirus epidemic, innovations in academia and higher education that would have normally taken several years due to the various contradictory administrative regulations are now introduced promptly in a matter of days. This is a clear example of the Schumpeterian ‘creative destruction’ in making that will forever change the status quo in academia and higher education.

Development of sharing economy-based business models in the tourism sector

2021 ◽  
Vol 5 (3) ◽  
pp. 43-52
Author(s):  
Valentinas Navickas ◽  
Ieva Petroke ◽  
Vaida Baciuliene ◽  
Aleksandr Kljucnikov
Keyword(s):  
Business Models ◽  
Secondary Data ◽  
Sharing Economy ◽  
Economic Activities ◽  
Environmental Friendliness ◽  
Scientific Discussion ◽  
Market Participants ◽  
Tourism Sector ◽  
New Business ◽  
Favorable Conditions

The sharing economy is rapidly gaining popularity, especially in the tourism sector. The sharing economy transforms functioning business models, giving businesses new economic activities and development opportunities. However, while sharing economy-based models are spreading in the world, not only the advantages but also the disadvantages are seen. This paper summarizes the arguments within the scientific discussion on the economic characteristics of sharing economy. It identifies the actions determining the development of sharing economy in the tourism sector. Since it is known that the sharing economy is developing rapidly, the development of the sharing economy is usually analyzed as a whole, regardless of the different sectors. However, the development of the sharing economy in the tourism sector is found to be the fastest. Besides, there is the largest number of stakeholders. Systematization of scientific treatises and approaches concerning the investigated issue indicated that the main drivers for the sharing economy development in the tourism sector are the Internet and technology among tourists, the cyclical nature of the economy, the change of societal values, and environmental friendliness. The methodological base of this research was secondary data analysis. The research empirically confirmed and theoretically proved that the sharing economy in the tourism sector develops rapidly, attracts more and more consumers in the tourism sector, and outpaces traditional business models. The obtained results could be used for analyzing the most favorable conditions to develop new business models in the market, analyze the response of market participants (consumers and traditional business model), promote new business initiatives in the tourism sector, research the sharing economy phenomenon in narrower tourism (transport, entertainment, and tourist information platforms).

scholarly journals Assessment of Circular Economy within Portuguese Organizations

2018 ◽  
Vol 10 (7) ◽  
pp. 2521 ◽  
Author(s):  
Luis Fonseca ◽  
José Domingues ◽  
Maria Pereira ◽  
Florinda Martins ◽  
Dominik Zimon
Keyword(s):  
Circular Economy ◽  
Quantitative Research ◽  
Online Survey ◽  
Business Models ◽  
Environmental Management System ◽  
Future Research ◽  
Sustainable Business ◽  
Wide Range ◽  
New Business ◽  
The Status

The move towards a new Circular Economy (CE) economic model has been advocated and supported in Portugal, however, there is limited research on this topic. To address this gap, a quantitative research based on an online survey was carried out among 99 Portuguese organizations, encompassing a wide range of sectors and sizes. The results show that CE is regarded as a strategic and relevant issue for profitability and value creation. Furthermore, the perception that it requires the adoption of new business models in addition to the classical “reduce, reuse and recycle” approach is growing. Moreover, based on the hypotheses raised, results suggest that the level of CE adoption is positively impacted by the status of the EMS (Environmental Management System) certification and the willingness to improve the environmental performance and achieve a sustainable business model. However, CE activities are still relatively modest and a friendlier context (fiscal, legal, organizational, etc.) and the stronger support from supply chain agents and consumers are required. Future research should focus on how to design and shape the transition from a linear to a CE economy and to ascertain if the positive attitude towards CE is materialized in changing the way business is done.

How Do Entrepreneurs Develop Business Models in Small High-Tech Ventures? An Exploratory Model from Australian IT Firms

2016 ◽  
Vol 6 (3) ◽  
Author(s):  
Arash Najmaei
Keyword(s):  
Business Model ◽  
Business Models ◽  
New Ventures ◽  
Future Research ◽  
High Tech ◽  
Second Phase ◽  
Business Modelling ◽  
Strategic Commitment ◽  
New Business ◽  
Managerial Implications

AbstractThe objective of this article is to explore and explain how entrepreneurs develop new business models for new ventures. Though highly topical, there is little solid empirical knowledge of this issue. Findings from multiple case studies of firms operating in the Australian cloud-computing ecosystem reveal that developing a new business model involves three phases. In the first phase (business modelling ideation (BMI)), various ideas for a viable business model are generated and the most viable one is chosen. The strategic consensus and commitment are generated in the second phase, labelled as the “business modelling strategic commitment” (BMSC). The third phase, labelled as the “business model actualization” (BMAC) is the market-testing phase where the business model is reified or actualized. The theoretical and managerial implications of the findings are discussed and several directions for future research are suggested.

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