E-finance-lab at the House of Finance : about us

The financial services industry is believed to be on the verge of a dramatic [r]evolution. A substantial redesign of its value chains aimed at reducing costs, providing more efficient and flexible services and enabling new products and revenue streams is imminent. But there seems to be no clear migration path nor goal which can cast light on the question where the finance industry and its various players will be and should be in a decade from now. The mission of the E-Finance Lab is the development and application of research methodologies in the financial industry that promote and assess how business strategies and structures are shared and supported by strategies and structures of information systems. Important challenges include the design of smart production infrastructures, the development and evaluation of advantageous sourcing strategies and smart selling concepts to enable new revenue streams for financial service providers in the future. Overall, our goal is to contribute methods and views to the realignment of the E-Finance value chain. ..

In search of the drivers of high growth in manufacturing SMEs

Though considerable attention in the extant literature has been devoted to growth and performance of firms, there is a dearth of research on high growth firms. Furthermore, the majority of literature in this area focuses on large firms while research on high growth small firms is underdeveloped. This paper investigates the drivers of high growth in manufacturing SMEs. Following a number of focus group interviews with six managing directors of manufacturing firms, a number of drivers of high growth were identified and investigated in a sample of 207 manufacturing SMEs. The results of this study indicate that high growth firms place a greater emphasis on external drivers such as strategic orientation, their operating environment and the use of e-commerce compared with firms having static or declining sales. The analysis shows that high growth firms compete largely on the basis of price. While high growth firms have increased their sales by over 30% during the past three years or longer, it is questionable if manufacturing firms can sustain their competitive advantage without recourse to greater research and development, and innovation in the longer term

Informatisation of transport process using GPS navigation system

Nowadays, internal business processes are one of the crucial factors of firms’ competitive advantage achievement, which is becoming increasingly important, not only on local but also on global markets. Firms’ performance improvement depends to a large extent on its flexibility, adjustability and especially ability to manage internal business processes. Hence, use of information technology is among the fundamental elements of business process change, which not only improve competitiveness but also assure long term development and growth of the firm. For all these reasons, the main purpose of this article is firstly to establish that use of information technology is feasible in all industries, explain what possible obstacles for successful informatisation are, and which are major advantages after its implementation. Secondly, within theoretical aspect we present broaden view of informatisation in logistics, whilst practical example illustrates successful informatisation of transport process with adoption of GPS (Global Positioning System) in a transport firm. Furthermore, in this article we are also introducing a case study of three transport firms describing process flow before and after implementation identifying enhanced information quality, service quality and communication as a foremost advantages and achievements after informatisatio

Trends and possible future developments in global forest-product markets - implications for the Swedish forest sector

This paper analyzes trends and possible future developments in global wood-product markets and discusses implications for the Swedish forest sector. Four possible futures, or scenarios, are considered, based on qualitative scenario analysis. The scenarios are distinguished principally by divergent futures with respect to two highly influential factors driving change in global wood-product markets, whose future development is unpredictable. These so-called critical uncertainties were found to be degrees to which: (i) current patterns of globalization will continue, or be replaced by regionalism, and (ii) concern about the environment, particularly climate change, related policy initiatives and customer preferences, will materialize. The overall future of the Swedish solid wood-product industry looks bright, irrespective of which of the four possible futures occurs, provided it accommodates the expected growth in demand for factory-made, energy-efficient construction components. The prospects for the pulp and paper industry in Sweden appear more ambiguous. Globalization is increasingly shifting production and consumption to the Southern hemisphere, adversely affecting employment and forest owners in Sweden. Further, technical progress in information and communication technology (ICT) is expected to lead to drastic reductions in demand for newsprint and printing paper. Chemical pulp producers may profit from a growing bio-energy industry, since they could manufacture new, high-value products in integrated bio-refineries. Mechanical pulp producers cannot do this, however, and might suffer from higher prices for raw materials and electricity

Networking Innovation in the European Car Industry : Does the Open Innovation Model Fit?

The automobile industry is has entered an innovation race. Uncertain technological trends, long development cycles, highly capital intensive product development, saturated markets, and environmental and safety regulations have subjected the sector to major transformations. The technological and organizational innovations related to these transformations necessitate research that can enhance our understanding of the characteristics of the new systems and extrapolate the implications for companies as well as for the wider economy. Is the industry ready to change and accelerate the pace of its innovation and adaptability? Have the traditional supply chains transformed into supply networks and regional automobile ecosystems? The study investigates the applicability of the Open Innovation concept to a mature capital-intensive asset-based industry, which is preparing for a radical technological discontinuity - the European automobile industry - through interviewing purposely selected knowledgeable respondents across seven European countries. The findings contribute to the understanding of the OI concept by identifying key obstacles to the wider adoption of the OI model, and signalling the importance of intermediaries and large incumbents for driving network development and OI practices as well as the need of new competencies to be developed by all players.Peer reviewe

Drivers and Impacts of R&D Adoption on Transport and Logistics Services

Actually, technologies and applications in industries are changing via business restructuring, new business models, new knowledge and supply chains. So R&D is not focused primarily on manufacturing industry as it used to be, but on different kinds of industries as logistics and transport (TLS). Nevertheless, the characteristics of the TLS industry determine the introduction of specific R&D solutions accordingly to sectors operations. The objective of this paper is to describe the R&D opportunities in the TLS industry and how managers use them to make their businesses more innovative and efficient. Using the Structure-Conduct-Performance (SCP) model the paper identifies the links between R&D adoption and innovation dynamics. Relating the findings, on the driver’s side there are three points that are worth mentioning: increasing market competition, the relationships of firms interacting with each other and the availability and quality of complementary assets such as employee skills and IT know-how. On the impacts’ side, firms advanced in terms of implementing R&D solutions are more likely to implement organizational changes. Finally, a set of recommendations on how to further improve the continuous innovation in the TLS industry is presented

Two quantative scenarios for the future of manufacturing in Europe

This paper presents two scenarios for the future of manufacturing in Europe with varying trends in globalisation, technological progress and energy efficiency. From these scenarios, we conclude that the trend towards a services economy is likely to continue with employment shifting away from manufacturing towards services. However, manufacturing production still grows and is important for trade in Europe. The sectors which are already the most open ones for international trade are also the ones mostly affected by this trend. These include chemicals, rubber and plastics, the combined machinery and equipment sectors, textiles and wearing apparel, and wood and other manufacturing. R&D policies and internal market policies in Europe can have strong positive impact on manufacturing. These policies do not alter the trend that Europe's share in global production and trade will continue to decline, but they do mitigate the overall decline, in particular in the chemicals, rubber and plastics, and combined machinery and equipment sectors.

Using Transaction Utility Approach for Retail Format Decision

Transaction Utility theory was propounded by Thaler to explain that the value derived by a customer from an exchange consists of two drivers: Acquisition Utilities and Transaction utilities. Acquisition utility represents the economic gain or loss from the transaction. Where as transaction utility is associated with purchase or (sale) and represents the pleasure (or displeasure) of the financial deal per se and is a function of the difference between the selling price and the reference price. Choice of a format has been studied from several dimensions including the cost and effort as well as the non-monetary values. However, the studies that present the complete picture and combine the aspects of the tangible as well as intangible values derived out of the shopping process are limited. Most of the studies, all of them from the developed economies, have focussed on the selection of a store. They represent a scenario where formats have stabilised. However, in Indian scenario formats have been found to be influencing the choice of store as well as orientation of the shoppers. Also, retailers are experimenting with alternate format with differing success rates. The author has also not found a study that has applied this theory. It is felt that the Transactional Utility Theory may provide a suitable approach for making format decisions.

Semantic discovery and reuse of business process patterns

Patterns currently play an important role in modern information systems (IS) development and their use has mainly been restricted to the design and implementation phases of the development lifecycle. Given the increasing significance of business modelling in IS development, patterns have the potential of providing a viable solution for promoting reusability of recurrent generalized models in the very early stages of development. As a statement of research-in-progress this paper focuses on business process patterns and proposes an initial methodological framework for the discovery and reuse of business process patterns within the IS development lifecycle. The framework borrows ideas from the domain engineering literature and proposes the use of semantics to drive both the discovery of patterns as well as their reuse

Economic impacts of SEZs: Theoretical approaches and analysis of newly notified SEZs in India

This study aims at examining the economic impacts of SEZs in the Indian context. While doing so, it addresses the conceptual confusion about SEZs, outlines the evolution of SEZs; traces economic philosophies explaining the rationale and benefits of SEZs; extends existing theoretical literature to explain the economic impacts of SEZs; assesses the economic impacts of newly notified SEZs in India; reviews the strategies followed by various state governments in the implementation of the policy ; and draws policy implications. It argues that the existing economic theories donot adequately explain the rationale and contribution of SEZs. These approaches need to be extended by integrating the provisions of the theories of agglomeration economies and global value chains within the existing theoretical frameworks. It analyses the economic impacts of SEZs within the extended theoretical framework. It finds that while SEZs are stimulating direct investment and employment, their role appears to be more valuable in bringing about economic transformation from a resource-led economy to a skill and technology-led economy; from low value added economic activities to high value added economic activities; from low productive sectors to high productive sectors; and from unorganised to organized sectors, both at the national and regional levels. They have the potential of promoting new knowledge intensive industries; augmenting existing industrial clusters/industrial states; diversifying the local industrial base; and localizing global value chain. However, a strategic approach is required to reap the opportunities offered by SEZs.Special economic zones; Exports; FDI; Economic diversification; Agglomeration economies; global value chains;India