The Digitalisation of the Economy and Higher Education

The purpose of this article is to analyse the digital economy in higher educational institutions of the EU, the USA and the Russian Federation. The study examines topical issues and directions of higher education transformation, in the context of creating a digital learning environment. A learning process model is designed for a higher educational institution. The model will help to obtain competencies that meet the requirements of a digital economy. There is a need to adapt the education system to changes in the labour market. The activities of educational institutions and public authorities should be coordinated to prepare the optimal number of specialists that will be in demand. Corporate and university education should be integrated. Higher educational institutions should focus on increasing digital and business literacy in students, continuous digital training and retraining of teachers. The research developments are universal in nature and might be applied both as part of managing IT-learning processes of individual educational institutions and in national (regional) practices

Integration of BPM systems

New technologies have emerged to support the global economy where for instance suppliers, manufactures and retailers are working together in order to minimise the cost and maximise efficiency. One of the technologies that has become a buzz word for many businesses is business process management or BPM. A business process comprises activities and tasks, the resources required to perform each task, and the business rules linking these activities and tasks. The tasks may be performed by human and/or machine actors. Workflow provides a way of describing the order of execution and the dependent relationships between the constituting activities of short or long running processes. Workflow allows businesses to capture not only the information but also the processes that transform the information - the process asset (Koulopoulos, T. M., 1995). Applications which involve automated, human-centric and collaborative processes across organisations are inherently different from one organisation to another. Even within the same organisation but over time, applications are adapted as ongoing change to the business processes is seen as the norm in today’s dynamic business environment. The major difference lies in the specifics of business processes which are changing rapidly in order to match the way in which businesses operate. In this chapter we introduce and discuss Business Process Management (BPM) with a focus on the integration of heterogeneous BPM systems across multiple organisations. We identify the problems and the main challenges not only with regards to technologies but also in the social and cultural context. We also discuss the issues that have arisen in our bid to find the solutions

Dynamic capability and superior firm performance in the UK Media Industry

The past decade has seen a transformation in the way television broadcasters have managed their businesses. This paper examines the ‘dynamic capability’ of two UK television broadcasters, BskyB and ITV, and their ability to adapt and transform themselves into multi-product, multi-platform media companies. Using Comparative Financial Analysis and Content Analysis of company Annual Reports, it compares and contrasts operating ratios in a time series, to gauge each company’s historical performance over time, whilst also providing inter-company comparisons. It also illustrates how the strategic management of media firms can be significantly different for two companies operating in the same sector. This research demonstrates an original contribution to knowledge in two areas. Firstly, it provides evidence of the dynamic capability performance effects of significant players in UK television broadcasting. Secondly, it extends the limited debate in literature on how to measure dynamic capability performanc

Building dynamic capabilities through operations strategy: an empirical example

This paper suggests that the implementation of an effective operations strategy process is one of the necessary antecedents to the development of dynamic capabilities within an organisation and that once established, dynamic capabilities and operations strategy process settle into a symbiotic relationship. Key terms and a model of operations strategy process are proposed from literature as a framework for analysing data from a longitudinal case study with a UK based manufacturer of construction materials

A conceptual framework for changes in Fund Management and Accountability relative to ESG issues

Major developments in socially responsible investment (SRI) and in environmental, social and governance (ESG) issues for fund managers (FMs) have occurred in the past decade. Much positive change has occurred but problems of disclosure, transparency and accountability remain. This article argues that trustees, FM investors and investee companies all require shared knowledge to overcome, in part, these problems. This involves clear concepts of accountability, and knowledge of fund management and of the associated ‘chain of accountability’ to enhance visibility and transparency. Dealing with the problems also requires development of an analytic framework based on relevant literature and theory. These empirical and analytic constructs combine to form a novel conceptual framework that is used to identify a clear set of areas to change FM investment decision making in a coherent way relative to ESG issues. The constructs and the change strategy are also used together to analyse how one can create favourable conditions for enhanced accountability. Ethical problems and climate change issues will be used as the main examples of ESG issues. The article has policy implications for the UK ‘Stewardship Code’ (2010), the legal responsibilities of key players and for the ‘Carbon Disclosure Project’

Artificial Intelligence for the Financial Services Industry: What Challenges Organizations to Succeed?

As a research field, artificial intelligence (AI) exists for several years. More recently, technological breakthroughs, coupled with the fast availability of data, have brought AI closer to commercial use. Internet giants such as Google, Amazon, Apple or Facebook invest significantly into AI, thereby underlining its relevance for business models worldwide. For the highly data driven finance industry, AI is of intensive interest within pilot projects, still, few AI applications have been implemented so far. This study analyzes drivers and inhibitors of a successful AI application in the finance industry based on panel data comprising 22 semi-structured interviews with experts in AI in finance. As theoretical lens, we structured our results using the TOE framework. Guidelines for applying AI successfully reveal AI-specific role models and process competencies as crucial, before trained algorithms will have reached a quality level on which AI applications will operate without human intervention and moral concerns