Democratizing Innovation. A Geo-Entrepreneurial Analysis and Approach Through the Company Democracy Model

Even that thinking, and innovative thinking, in particular, is supposed to be borderless and unbiased, it seems that most of the innovations globally derive from regions that have built a brand name on it. This limits the opportunities to bright ideas form bright people outside the innovation hubs, resulting in a general loss of intellectual capital for the global economy. This paper aims to democratize innovation by redefining geo-entrepreneurship through a reverse innovation framework that exposes the hidden intellectual capital around the world, evaluates innovation drives and opportunities and empowers the development, commercialization and utilization of innovation. Based on the Company Democracy Model the proposed framework impacts reversely national brain-drain contributes to innovation scouting, strategic partnerships, and redistributes success opportunities. This geo-entrepreneurial approach identifies innovation potential globally, reduces inequalities among all those who can and want to create opportunities regardless of where innovation takes place and by whom

An IT Project Management Methodology Generator Based on an Agile Project Management Process Framework

Information Technology Project Management and Software Project Management in particular depends heavily on the project’s type and constraints. Quality, financial, technical, schedule, complexity and other constraints affect significantly the management process. Over the last two decades project management methodologies have been developed to support the project management effort. Many methodologies cover generic approaches emphasizing on the planning or estimation activities, others on tracking, others on quality and others on very specific management practices that could support the delivery of very specific projects. This paper introduces an adjustable (agile) project management framework for managing information technology projects of any type. The framework divides the management activities into systems engineering management and systems acquisitions management phases and operates as a methodology generator feed by the project constraints. The project management methodology that derives is a combination of management and engineering phases based on the needs and constraints of each project per case

Digital Museum Transformation Strategy Against the Covid-19 Pandemic Crisis

During the last decade, the art industry and especially the museums, the art galleries and the auctions has stagnated due to the global financial crisis (2007–2017) and latest lockdowns brought by the Covid-19 pandemic (2020-). Many art institutions introduced digital technologies into their operations and transitioned to the online art market. Visits to art exhibitions include interaction with other visitors of similar interests. Hence, digital art venues must create the same environment vibes and offer similar opportunities as the physical ones. The paper indicates the application of the avatar technology as an interaction method in digital museum spaces. It also provides the functional requirements, a navigation process, and the implementation scenarios for the adaptation of such technologies. The application of this digital strategy can transform the art market, contribute to the museum’s sustainability, and offer the public different ways of learning and entertainment

Rapid near-optimal aerospace plane trajectory generation and guidance

Effort was directed toward the problems of the real time trajectory optimization and guidance law development for the National Aerospace Plane (NASP) applications. In particular, singular perturbation methods were used to develop guidance algorithms suitable for onboard, real time implementation. The progress made in this research effort is reported

The 4Es of Management: Managing Cultural Exchange in Multinational Corporations

Despite the obvious benefits that Multinational Corporations (MNCs) have on developing economies, those often come together with tremendous externalities. Rather than exploiting cost drivers and cost savings to deliver cheaper products to the Western customer, MNCs could try to find more ways to cater to local markets profitably whilst contributing to resolving social challenges. This paper introduces a management framework that facilitates knowledge-exchange between local organizations and the MNCs for a more targeted product development that can effectively respond to the local needs. This research explores the relationship between MNCs and developing markets; it highlights the pitfalls of new product development efforts for such markets in depth before touching upon more effective ways of generating innovative intellectual capital for product development practices; it introduces the 4Es Management Framework that can solve cultural exchange challenges in MNCs, and lastly, it elaborates on how this can constitute alternative CSR initiatives

Mapping the Monetization Challenge of Gaming in Various Domains

The cost of developing successful games for either entertainment or business purposes is a high-risk investment but mandatory due to the nature of the sector. However, there are discrete and innovative ways that minimize the investments risk and assure profitability without losing the player’s engagement. Gaming monetization can be approached from direct or indirect financial charges based on the scope of the game and its target group. As of today, no monetization practice can be considered as a silver bullet as they are all affected by geographical, cultural, social, economic and other factors. This paper attempts to define the major monetization elements in the gaming industry. It also attempts to define the major gaming categories and subcategories and associate on them the monetization elements and techniques. Furthermore, it creates a map for the development of gamification monetization approaches per case which can contribute towards effective gaming investments management

Digital Cultural Strategies Within the Context of Digital Humanities Economics

Staying sustainable in the world of cultural heritage is a major organizational challenge nationally and internationally. Due to the global financial crisis the funds available to sustain the operations of museums and libraries become difficult not only to obtain them but also to utilized them effectively and efficiently. The operational costs of museums increase over the time due to exhibit maintenance and acquisition costs. This cost is inversely proportional to the revenues that can be generated. Virtual reality, avatar technologies, virtual worlds, holograms, gaming and gamification can offer creative interactivity and unique experiences with low or no cost to the global visitor and introduce new revenue streams. This paper practically integrates the realization of digital cultural strategies and operations within the context of digital humanities economics that can turn museums and libraries from cost centres to profit centres for the benefit of the humanity and the society

The applied philosophy concept for management and leadership objects through the Company Democracy Model

Humans must be in focus when companies are improving performance in business. Applied philosophy for management and leadership places humans in the company context as living entities aligned with the business management and leadership objects in the conscious experiences of the company workforce. Starting with Hellenic philosophy and drawing on more modern philosophies relevant to everyday business, the applied philosophy concept in management and leadership can harness business ontologies, taxonomies, classes and other knowledge classification techniques in order to create added-value in companies. The holistic concept of man and the circles of mind models open up the human mind and situationality in a new way, giving new alternatives in terms of understanding how humans, as decision makers, behave in a company context. This article explores the applied philosophy concept for management and leadership in order to develop a more practical description of the Company Democracy Model

A Business Transformation Model for Legacy Carriers as a Response to the Rise of Low-Cost Carriers

The aviation travel industry offers today a commodity product that attracts all types of customers. However, many clients are price-sensitive and often look for the cheapest product offering. As legacy airlines’ core strengths do not align well with the new customer preferences, this research work investigates the background of the rise of the low-cost carriers and consequently proposes a wholistic transformational model for legacy airlines. This paper presents a business transformation model with five strategic areas. The first two areas, which are Modernization and Environmental Sustainability, advise legacy carriers to focus on digitizing large parts of their business and establish operations within a sustainable business model. The next two areas are the adaptation of products offered with stronger people-centric marketing and communication strategies. The final area is the optimization of portfolio management, where legacy carriers are urged to rethink their investment strategy and possibly divest from low-cost carrier subsidiaries

The World Innovation Stock Exchange - shared value for individuals, business and society

Innovation appears to be the new buzzword of the global economy, but things are not that simple. The critical questions are: What is innovation? Innovation for whom? and for what? Who can judge what is innovative, what is not, and why? Likewise, it is hard to define who is an innovator and who is not. The value of innovation is determined by the acceptance and the return it has in the society. The socioeconomic impact of innovation was and remains one of the most important issues in its definition and evaluation. What the world expects from insights, ideas and innovations are not new profit-making methods but most of all products and services with clear added value for the people, the economy and society. What the world also expects today is that a world wide web for insights, ideas and innovations could help people, companies and societies to create new added value for sustainable growth. This all means that somehow the demand and supply of insights, ideas and innovations should meet continuously and effectively on the commercial markets. The World Innovation Stock Exchange Organization (Www.InnovationStockExchange.org) is a state-of-the-art knowledge and innovation management initiative based on the concepts and theories of democratic innovation through freedom of knowledge expression. In this paper, we describe in detail how this organization operates and what kinds of possibilities it creates for people, business and society. The shared added-value created through the marketplace gives continuity to business as well as societies, based on individual capacity, skills, capability, creativity, know-how, competence, as well as different individual initiatives