scholarly journals Development of human capital in institutions from the Polish financial sector: Towards new technologies and agile business models

2020 ◽  
Vol 6 (4) ◽  
pp. 51-63
Author(s):  
Tadeusz A. Grzeszczyk
Keyword(s):  
Human Capital ◽  
Business Models ◽  
New Technologies ◽  
Financial Sector

Financial Sector Transformation In The Era Of Digitalization

2021 ◽  
Vol 38 (4) ◽  
Author(s):  
Inese Mavlutova ◽  
Tatjana Volkova ◽  
Andris Natrins ◽  
Aivars Spilbergs ◽  
Ilja Arefjevs ◽  
...  
Keyword(s):  
Business Models ◽  
New Technologies ◽  
Financial Sector ◽  
Digital Innovation ◽  
Financial Sector Development ◽  
New Business ◽  
Fast Development ◽  
Functional Equivalent ◽  
Product Delivery ◽  
Digital Disruption

The fast development of new technologies has a significant impact on the financial sector development. Digitalization leads to the development of new business models, transformation of value chains, new product delivery channels, relationships between companies in the financial sector and structural landscape of the financial sector changes to the. Although, there is no common understanding formed among scholars about the drivers of these strategic changes and the future financial sector development trends.The development of financial technologies, characterized by the emergence of alternative services and new industries, can be described as highly innovative. The functional equivalent of the commonly used terms, such as digital disruption and digital transformation is digital innovation, in one case emphasizing strategic orientation, developing new products and business models using digital technologies, infrastructures, supply chain, and ecosystems, and, in the other - transforming traditional models to address to existing loyal customers providing more usable in the digital ecosystems access channels, solutions, and products.

Impact of intellectual capital on the financing of startups with new business models

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Nirjhar Nigam ◽  
Sondes Mbarek ◽  
Afef Boughanmi
Keyword(s):  
Health Care ◽  
Human Capital ◽  
Intellectual Capital ◽  
Business Models ◽  
New Technologies ◽  
Small Sample ◽  
Relational Capital ◽  
Content Type ◽  
New Business ◽  
New Business Models

Purpose Financing investments in a knowledge-intensive sector may be more difficult as there is a greater degree of uncertainty and asymmetries of information. This paper aims to examine whether a company’s intellectual capital (human capital, relational capital and structural capital) can serve as a quality signal in the financing of health care startups with new business models. Design/methodology/approach The study constructed a manual database using several paid and unpaid databases. This paper collected random data from 204 startups that obtained funding during the 2014–2017 period and used signaling theory to examine the factors that impact access to external financing for Indian health care technology startups. Findings This paper found that venture capitalists partly base their financing decisions on the relational capital of the startup represented by startups’ age and the average number of website visits, the presence of a syndicate of investors. Human capital variables and structural variables do not show much significant impact. This paper also find some business models show a negative impact on financing implying that investors are reluctant to invest in new technologies that carry more uncertainty and take a longer time to become profitable. Research limitations/implications Before concluding this paper, it is important to acknowledge the limitations of the study and some implications for future research purposes. First, the study is conducted on only 204 startups from India, and as such, it suffers from a small sample size, like many other comparable survey-based studies in entrepreneurship. Second, the results are obtained with respect to data collected from Indian startups and represent the Indian context which limits the generalization on a global level. Practical implications The results suggest that years of experience and prior relevant experience, do not actually impact the financing of a new venture. These results are crucial as India has a unique demographic advantage over other countries in relation to age. If young minds are adequately nurtured, this can result in innovation, entrepreneurship and job creation (which still remains as a foremost challenge for India). Social implications From a policy perspective, a number of implications emerge from the current study. There is a need for ameliorating the capacity of the education system in providing top-quality support including a greater focus on entrepreneurship courses and to replicate the education delivery model from top foreign institutes. The government should take this opportunity to revive the system of education and follow the methodology of elite institutes and to develop entrepreneurship spirit in other colleges and schools. Originality/value Financing the investments of young startups with new business models in knowledge-based sectors may be more difficult. In this paper, this paper demonstrates that startups have to effectively use and manage their intellectual assets to achieve sustainable competitive advantage. The findings of the paper emphasize the role of intellectual capital in securing financing through venture capital.

scholarly journals Spanish financial institutions facing the challenge of digitalization: The case of payment systems

2021 ◽  
Vol 7 (2) ◽  
pp. 73-99
Author(s):  
Carlos Viñals Guitart
Keyword(s):  
Financial Institutions ◽  
Business Models ◽  
New Technologies ◽  
Technological Development ◽  
Financial Sector ◽  
Payment Systems ◽  
Challenges And Opportunities ◽  
New Business ◽  
New Challenges ◽  
New Business Models

Technological development has brought about major changes in all aspects and spheres of society. Among the various environments where technological applications have brought improvements and transformed the usual way of operating, we highlight the financial sector. Indeed, technology has substantially modified the processes and mechanisms on which its operation is based, especially in the area of payments, due to the need for reliability, security and immediacy to improve the way in which money is transmitted between the different agents that interact in it. This digitization of payment systems has been made possible by various factors, including the emergence of new business models and the emergence of large technology companies, as well as the application of new technologies that streamline payment processes. This has forced the financial sector and, specifically, financial institutions, the main drivers of the financial system, to accelerate innovation in the payments sector in order to face these new challenges. This paper analyses payment systems, how they work, the services they provide and the challenges and opportunities that can be identified as a result of technological innovation in the financial sector. It also presents the strategies being followed by Spanish financial institutions in terms of the development of new services and capabilities to cope with these changes.

Emerging Industrial Revolution: Symbiosis of Industry 4.0 and Circular Economy: The Role of Universities

2020 ◽  
Vol 25 (3) ◽  
pp. 505-525 ◽  
Author(s):  
Seeram Ramakrishna ◽  
Alfred Ngowi ◽  
Henk De Jager ◽  
Bankole O. Awuzie
Keyword(s):  
Economic Growth ◽  
Circular Economy ◽  
Industry 4.0 ◽  
Business Models ◽  
Industrial Revolution ◽  
New Technologies ◽  
Production Systems ◽  
Fourth Industrial Revolution ◽  
New Jobs

Growing consumerism and population worldwide raises concerns about society’s sustainability aspirations. This has led to calls for concerted efforts to shift from the linear economy to a circular economy (CE), which are gaining momentum globally. CE approaches lead to a zero-waste scenario of economic growth and sustainable development. These approaches are based on semi-scientific and empirical concepts with technologies enabling 3Rs (reduce, reuse, recycle) and 6Rs (reuse, recycle, redesign, remanufacture, reduce, recover). Studies estimate that the transition to a CE would save the world in excess of a trillion dollars annually while creating new jobs, business opportunities and economic growth. The emerging industrial revolution will enhance the symbiotic pursuit of new technologies and CE to transform extant production systems and business models for sustainability. This article examines the trends, availability and readiness of fourth industrial revolution (4IR or industry 4.0) technologies (for example, Internet of Things [IoT], artificial intelligence [AI] and nanotechnology) to support and promote CE transitions within the higher education institutional context. Furthermore, it elucidates the role of universities as living laboratories for experimenting the utility of industry 4.0 technologies in driving the shift towards CE futures. The article concludes that universities should play a pivotal role in engendering CE transitions.

Business model of garment enterprises: a scientometric review

2021 ◽  
Vol 91 (13-14) ◽  
pp. 1609-1626
Author(s):  
Yuran Jin ◽  
Xiangye Song ◽  
Jinhuan Tang ◽  
Xiaodong Dong ◽  
Huisheng Ji
Keyword(s):  
Conference Proceedings ◽  
Social Science ◽  
Business Model ◽  
Western Europe ◽  
Business Models ◽  
New Technologies ◽  
Citation Index ◽  
The United States ◽  
Fast Fashion ◽  
First Time

The research on the business model of garment enterprises (BMGE) has expanded rapidly in the last decade. However, there is still a lack of comprehensive reviews of it, let alone visual research. Based on scientometrics, in this paper 118 papers and their 4803 references from Science Citation Index Expanded, Social Sciences Citation Index, Conference Proceedings Citation Index—Science, and Conference Proceedings Citation Index—Social Science & Humanities for the period 2010–2020 about the BMGE were analyzed by visualizing the co-cited references, co-occurrence keywords, burst references, dual-map overlays, and more with CiteSpace, Google Maps, and VOSviewer. The research revealed the intellectual landscapes of the BMGE for the first time and mapped the landmark papers, hotspots and trends, national or regional distributions and their cooperation networks, highly cited authors, and prestigious journals and disciplines related to the BMGE. The results show that the biggest hotspot is the fast fashion business model; social responsibility, smart fashion, Internet of Things, and sharing fashion are the main emerging hotspots; and the research focuses has evolved from traditional business models to business models driven by new technologies, then to new issues such as circular economy models. The institutions are mainly distributed in China, the United States, and Western Europe, and there is cooperation between more than 11 countries. The most popular disciplines are economics and politics, while psychology, education, and social science are the essential basic disciplines. The Journal of Cleaner Production and Journal of Fashion Marketing and Management, among others, actively promoted the research.

Product Selling vs. Pay-Per-Use Service: A Strategic Analysis of Competing Business Models

2021 ◽  
Author(s):  
Konstantinos Ladas ◽  
Stylianos Kavadias ◽  
Christoph Loch
Keyword(s):  
Operations Management ◽  
Service Provision ◽  
Business Models ◽  
New Technologies ◽  
Production Costs ◽  
Information Goods ◽  
High Demand ◽  
Additional Advantage ◽  
Delivery Costs ◽  
Relative Profitability

We present a model that suggests possible explanations for the observed proliferation of “pay-per-use” (PPU) business models over the last two decades. Delivering “fractions” of a product as a service offers a cost advantage to customers with lower usage but requires extra delivery costs. Previous research focused on information goods (with negligible production costs) and predicted that PPU, when arising as a differentiation to selling in equilibrium, would fundamentally achieve lower profits than selling. We extend the theory by covering goods with any production cost in duopolistic competition. We show that PPU business models can be more profitable than selling (especially at midrange production costs), as long as their delivery costs are not too high, a requirement that is more easily fulfilled as new technologies reduce these costs. Moreover, if firms are imperfectly informed about their customers’ usage profiles, PPU’s effective pricing of customers’ varying usage offers an additional advantage over selling. This requires companies to employ accounting methods that do not inappropriately allocate production costs over stochastic usage levels. If PPU service provision suffers from queueing inefficiencies, this does not fundamentally change the relative profitability of the PPU and selling models, provided that PPU providers can attract sufficiently high demand to benefit from pooling economies. This paper was accepted by Charles Corbett, operations management.

scholarly journals Tracking the Maturity of Industry 4.0: The Perspective of a Real Scenario

2021 ◽  
Author(s):  
Vítor Alcácer ◽  
Carolina Rodrigues ◽  
Helena Carvalho ◽  
Virgilio Cruz-Machado
Keyword(s):  
Empirical Data ◽  
Industry 4.0 ◽  
Business Models ◽  
New Technologies ◽  
Industrial Cluster ◽  
Academic Community ◽  
Enabling Technologies ◽  
Readiness Level ◽  
Different Dimensions ◽  
Real Scenario

Abstract In order to track industry 4.0 status, readiness models can be used to analyze the state of indus-try 4.0 technologies’ implementation allowing the quantification and qualification of its readiness level, focusing on different dimensions. To this matter, there are companies unable to relate the industry 4.0 with their business models, leading to a lack of a correct self-assess in order to understand the reached readiness level. Not all companies are adopting these new technologies with the same ease and with the same pace. Into this purpose, it is important to understand how to assess the industry 4.0’ readiness so far and what are the barriers on the adoption of these enabling technologies by the industry. This paper aims to assess the industry 4.0’ readiness level of companies, understand the perception of companies due to the barriers on the adoption of industry 4.0 enabling technologies and bring new barriers for discussion on academic community. To this end, empirical data was collected on a sample of 15 companies belonging to an important industrial cluster in Portugal.

scholarly journals ESTIMATION OF BUSINESS VALUE AS AN ELEMENT OF FORMATION OF BUSINESS MODELS OF INDUSTRIAL ENTERPRISES AND AGRICULTURAL COMPLEX IN THE CONDITIONS OF DIGITALIZATION OF THE ECONOMY

2020 ◽  
Author(s):  
Maksym Odnorog ◽  
◽  
Mykhailo Pivtorak ◽  
Oksana Zagorodniuk ◽  
◽  
...  
Keyword(s):  
Best Practices ◽  
Business Models ◽  
Business Processes ◽  
New Technologies ◽  
Digital Technologies ◽  
Economic Security ◽  
Digital Transformation ◽  
Enterprise Management ◽  
Industrial Enterprises ◽  
Digital Management

To date, digital technologies and their widespread practice have formed the potential for completely new business models. However, most organizations are either in the early stages of the digital transformation process, or do not yet dare to form a digital business model that will provide real benefits from digital technologies. In any case, taking into account the enormous pace of global digitalization, it is extremely important to adapt the best practices of digital transformation to the improvement of the Ukrainian economy as soon as possible. Based on this, consider the process of researching new and adapting existing management models. Digital transformation – the introduction of modern technologies to radically change the business models of enterprise management today is considered the most important topic for organizations around the world. The requirements of the new digital economy represent the digital transformation as a conscious strategic process of business modification through adaptive management and implementation of digital technologies, ie the restructuring of existing business models. The same happens at industrial and agro-industrial enterprises, the analog period of which is coming to an end. Industries are entering the digital age, thanks to which enterprises are developing in accordance with the new focus. For this reason, it is very important for the formation of digital models of enterprise management to strategically understand the possibilities of digital technology development in their connection with business processes and business models. The analysis of the main traditional models of effective management of enterprises was carried out and their fundamental differences from the Ukrainian approach to management were revealed, the possibilities of implementation of the principles of existing business models by Ukrainian enterprises were considered. In addition, a roadmap for the transition from a traditional to a digital enterprise was proposed for consideration. The process of modeling the digital management system of the enterprise is revealed. Currently, a prerequisite for the prosperity of the economy of industry and agriculture and, consequently, the economy of Ukraine, is adaptive digital management as a basis for economic security of the enterprise. It was found that the relentless introduction of digital technologies, «copying best practices» can later be in reality as dangerous as the refusal to master new technologies. Therefore, choosing the direction of your own digitization, you must first study everything thoroughly, so as not to miss the moment and not to remain in the ranks of the latter or in the past.

scholarly journals STATE STIMULATION OF TRANSFORMATION OF POWER INDUSTRY

2020 ◽  
Vol 10 (4) ◽  
pp. 320-329
Author(s):  
V. A. Zubakin
Keyword(s):  
Power Supply ◽  
Business Models ◽  
New Technologies ◽  
Electrical Power ◽  
General System ◽  
Pilot Project ◽  
Power Industry ◽  
Electrical Power System ◽  
Distributed Power ◽  
New Type

Transition to digital technologies in management of power industry at all levels – an inevitable consequence of the technical progress which has generated opportunities for diversification, decarbonization and decentralization. Thus it is necessary to recognize that digitalization in power industry is NOT automation, and first of all creation of new business models, services and the markets with a support on possibility of digital economy. In this article questions of transformation of architecture of power industry, and also the main restrictions are considered: absence in regulatory base of new opportunities for consumers; general system inefficiency; impossibility “to legalize” appearance of new subjects (active consumers and prosumers, operators of micropower supply systems and aggregators of the distributed power objects, various service organizations), and also to deregulate the relations between them, to standardize interaction interfaces with EEC, to transform the energy markets.In article it is offered for transition to new digital power to make corresponding changes to the legislation: to enter new type of participants of the market (the active consumer, an active power complex), operated intellectual connection carrying out the standard with the electrical power system, completely responsible for management of the power supply and thus having the minimum regulatory restrictions on organizational model of the work; to improve rules of functioning of trade systems for creation of the markets of the distributed power providing an effective exchange of goods and services between traditional participants of the markets and participants of new type; to enter possibility of application of technologies of the coordinated management of the distributed sources and consumers of energy, systems of storage of energy, means of regulation of loading (“aggregators”) for the purpose of increase of efficiency of their use and participation in the electric power and power markets, including rendering system services and performance of other functions in these markets (the pilot project of such system is realized under the leadership of the author of the present article by subsidiary PAO “Lukoil” “Energy and gas of Romania”); to increase technological and economic flexibility of conditions on reliability and quality of power supply, creation of possibility of a choice by the consumer of conditions of power supply necessary for him and the account them in cost; to enter the accounting of the opportunities given by “new” decisions, at an assessment, formation and implementation of investment programs of the adjustable companies (including introduction of a technique of an assessment of investment projects at possession cost on all life cycle of the decision); to replace cross subsidizing of the population by industrial consumers with mechanisms of address social support and / or with system of restriction of volumes of consumption on reduced rates (“соцнорма”); to refuse further deployment of system of subsidizing of power supply of one regions at the expense of consumers of other regions (as it leads to growth of inefficient power consumption in the subsidized regions, not provided with available generation and infrastructure); to change norms of technical regulation, norms of design on the basis of new technologies; to make changes to programs of development of the infrastructure organizations of power industry taking into account trends of diversification, decentralization, decarbonization and a digitalization; to provide possibility of stimulation, including tariff, implementation of regional programs (pilot and regular), aimed at the complex development of power industry on the basis of new approaches, technologies and the practician, and also the hi-tech companies of small and medium business providing development.

scholarly journals Analysis of Comparison of Islamic Banks with Online Micro In Disbursements of Micro-Financing Based on Requirements, Services Speed and Margin (Case Study of Micro-finance at Bank Mandiri Syariah and Micro Credit Uangteman.com)

2020 ◽  
Vol 1 (1) ◽  
pp. 1
Author(s):  
Lucky Nugroho ◽  
Harnovinsah Harnovinsah ◽  
Yananto Mihadi Putra ◽  
Prinoti Prinoti
Keyword(s):  
Interest Rates ◽  
Digital Technology ◽  
Business Models ◽  
Industrial Revolution ◽  
Secondary Data ◽  
Financial Sector ◽  
Islamic Banks ◽  
Financial Technology ◽  
Micro Credit

The dynamics of the use of digital technology in the industrial revolution era 4.0 has had an impact on the financial sector. One of them is the development of financial technology (fintech) in the form of online loan services. Furthermore, the flagship product from fintech is lending to micro and small entrepreneurs. Likewise, Islamic banks that have a focus on financing to micro and small entrepreneurs must be able to compete with fintech services in the era of the industrial revolution 4.0 that is happening at this time. The purpose of this study is to analyze the different mechanisms of micro-financing distribution between Bank Mandiri Syariah and microcredit UangTeman.com. The method used is qualitative, which is to compare the requirements, mechanisms, and margins imposed on the customers and the information obtained through secondary data, namely standard and operational procedures. Based on the results of the study, the requirements and procedures for granting loans to micro and small entrepreneurs at Bank Mandiri Syariah are longer compared to UangTeman.com. While the fines for late payment in installments and interest rates on UangTeman.com are higher than the fines and margins of Bank Mandiri Syariah micro-financing. Therefore to be able to improve products and services for micro and small entrepreneurs, Bank Mandiri Syariah conducts a review of business models and business

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