Collaboration and Learning Processes in Value Co-Creation: A Destination Perspective

Value co-creation has emerged as an important competitive strategy leading to value innovation. In tourist destinations co-creation results from the participation of multiple actors synchronously and contextually in value realization. Yet value co-creation remains highly theoretical and lacks empirical operationalization, especially in destination contexts. Are tourism destinations able and sufficiently mobilized to exploit the potential offered by co-creation theory? This paper operationalizes two fundamental dimensions of the value co-creation process, collaboration and learning, by developing and testing a measurement scale to evaluate the perceived impact of these dimensions on the market performance of actors at a tourist destination. Contributions to the literature on value co-creation and learning as well as managerial implications are discussed and suggestions for further research are made.

Efficiency or Innovation? The Long-Run Payoff of Cloud Computing

Considering the mixed arguments and uncertainty about the payoff of cloud computing, this paper empirically studies the long-term cloud computing impact on the financial performance, specifically from the perspective of efficiency and innovation. Taking 253 pairs of listed companies in China as the research sample, propensity score matching and difference in differences techniques combined with OLS regression are conducted to analyze a rolling 5-year panel data. The analysis results show that cloud computing adoption leads to years of financial performance decline followed by an upturn. The downward trend is more pronounced when it is adopted with innovation. This paper contributes to the existing literatures by leveraging archival performance data to verify the long-term business value and revealing the value realization difference between efficiency- and innovation-oriented cloud computing adoptions. The findings remind the managers to see the two sides of cloud computing and make rational adoption decisions, especially cloud-based innovation, according to their actual situations.

Analysis of the Effect of Investment, Labor Force and Infrastructure on Economic Growth in North Sumatra Province

A significant amount of value investment can absorb much labor and increase public consumption to become productive. Infrastructure development is believed to facilitate the mobility of goods and people from one area to another to accelerate and streamline the economic process. The purposes of this study were to analyze the effects of the value realization of Domestic Investment, the value realization of Foreign Investment, the labor force, and infrastructure partially and simultaneously on the economic growth of North SumatraProvince. The data in this study is secondary data sources on the Statistics Indonesia (BPS) report of Province SumatraUtara, particularly the data from 1990-2019. The data examined included Gross Domestic Regional Product, Value Realization of Domestic Investment, Foreign Investment, Labour Force, and road infrastructure. The data collection method used is the method of documentation. The model used is the Ordinary Least Square (OLS) model, which is analyzed by multiple regression. The results showed that, partially, there were positive and significant effects on the value realization of Domestic Investment, labor force, and infrastructure. Meanwhile, Foreign Investment showed a positive effect but not significant. Simultaneously, the realization of Domestic Investment, the realization of Foreign Investment, the labor force, and infrastructure were positive and significant on the economic growth of North Sumatra Province at the level of α = 5%. Keywords: value realization of domestic investment, foreign investment, labor force, infrastructure.

The transformation from value determination to value realization: the logical dilemma of the Okishio theorem

PurposeDifferent from Marx's analysis of the dialectical relationship between the production and realization of surplus value, the Okishio theorem only shows one aspect of the contradictory movement of the total social capital, that is, the reverse effect of the realization of surplus value on the production of surplus value.Design/methodology/approachThe production of surplus value and the realization of surplus value are simplified into one process. This simplification eliminates the contradiction between the production and realization of surplus value, and the antagonistic contradiction between accumulation and consumption and the antagonistic production-distribution relationship in capitalist society are naturally covered up.FindingsTherefore, it cannot explain the actual expansion way of the falling general rate of profit as the historical development law of capitalism. Nevertheless, it should be noted that the Okishio theorem places the analysis of the general rate of profit back into the social reproduction model with department equilibrium, which points out the significance of wage income to the realization of surplus value and outlines the macro mechanism of the realization of surplus value reacting to the production of surplus value. It also strongly promotes the research progress of the law that the profit rate tends to decline.Originality/valueThe mistake of the Okishio theorem is that the exchange process in the labor market forms the real wage rate. It determines the production price of wage goods, which thereby determines that the production price of capital goods and general rate of profit, the production of surplus value and realization of surplus value are simplified into the same process, and only the value that can be realized is the real value.

Exploring the Transformation Mechanism of Ecological Value Realization by Property Right Trading of Rural hydropower

The transformation and upgrading of rural hydropower rely on the property right trading market, and the professional property right trading market serves as the foundation to truly transform lucid waters and lush mountains into mountains of gold and silver. The study believes that by using two means, namely, government regulation and market incentive, water resources can be turned into ecological hydropower resources to finally realize the economic value of green energy through the ecological value transforming mechanism. The transforming mechanism, impelled by green hydropower certification and evaluation and professional property right trading market, has realized the ecological values, which not only promotes the green development of the local economy, but also realizes the transformation and upgrading of the rural hydropower industry. With the hydropower property right trading center, the development of the hydropower industry has encountered historic opportunities. At present, it is necessary to strive to improve the corresponding system, mechanism and cultural environment of the trading center to achieve the predetermined goal, and further standardize and improve the transaction activities. There are in all three figures and three tables.

Value Tracking Thru Digital Fields Countrywide Solution Big Data Analytics Project

The Digital Field initiative is transforming the daily operations on the oilfield and it is now part of PETRONAS corporate wide digital strategy. This transformation is done by onboarding multiple disciplines such as subsurface team, facilities, and operations, HSSE and Business Planning and is designed to replicates the performance of an oilfield in the computer, combining business process management and technical workflows. Digital Field has enabled the customer to execute their work collaboratively, by providing decision support system (technical workflows and business process management tools) subsequently improving their process efficiencies and optimizing their production. It is believed that by conducting a systematic review of the improvement and tracking the values that has been achieved, it will help to promote and accelerate digital adoption faster. The main objectives of the Automated Value Tracking are: To promote opportunity generation through collaborative environment. To track stages of every opportunity of the following categories of Production Optimization, Unplanned Deferment and Process Cycle Efficiencies. To quantify values associated with opportunities generated from automated workflows and current business process. To promote ownership of the actions associated with the assigned opportunity and to help to quantify on individual level contribution to the corporate goal in terms of production volume and time savings. To measures optimized number of opportunities generated against production volume associated with Production Optimization activity according to Field category and Quality of Opportunity Generated from Optimization Advisor. The process is summarized as follow: Opportunity generation: Automated opportunity generation generated through current Production Optimization Advisory framework. Integration with existing Petronas business process tools i.e. Daily Operational Tracking System, Alpha projects, Opportunity Management system, etc. Manual opportunity generation. Opportunity evaluation and analysis: Provide quantitatively confidence level of production incremental volume from automated Optimization Advisory through machine learning. Establish relationship between numbers of opportunity completed and categories versus production volume gain. Opportunity tracking and approval: Tracking the opportunity generation according to the process level. Escalating Opportunity and value recognition through business process approval. This workflow helps to improve to understand the current update of the different levels such as well, field, region and upstream with the help of integrating the value realization and allows "cards" to show information that can trigger opportunities to increase production, reduce time of decision and fast action.

Unlocking Potential Thru Sand Management Insights in Digital Fields

Sand production is creating sand erosion and deposition issues at multiples levels such as tubing, choke and pipeline, therefore causing multiples undesirable events such as unplanned production deferment, integrity and sand handling capacity issues in each field. Traditionally, each field has common practices to address sand issues. However, this creates non-standard procedures and prevents sharing best practices around all the assets. Managing sand production and related risks are keys where a multi-disciplined team (from subsurface to the surface) is required to ensure safe operations in more than 45 offshore fields. To efficiently manage such a challenge at scale, there was a need to develop a single common digital platform for all. The digital platform provides unified user experience and proactive actionable insights to all assets with characteristics such as; Scalable to all fields Solution architecture to allow fast implementation Same company-wide user interface/user experience platform To achieve this ambition, it was necessary to move away from traditional waterfall project development to agile approach, automating ingestion of data from multiple sources, integrating the in-house development tool as engine based on equations develop specifically for Malaysia fields. The solution was deployed to all fields during 2019. This had created additional benefits such as Transparency on the data: Anyone can access to any field Visible Metrics: All fields sharing the same metrics, also improving and developing adjustments according to each situation Regulatory Compliance: Helping to keep up to date with sand sampling There are already fields reporting examples of value realization in the form of Cost Avoidance and/or reduction in unplanned deferment due to improved Sand Management handling from the solution. It is expected that the value realization will increase by taking actions of protecting the field of any Loss of Primary Containment (LOPC), saving time of deciding as Process Cycle Efficiency (PCE). The solution can potentially be utilized for annual field forecasting for work program and budget cycle.