Value migration: digitalization of shipping as a mechanism of industry dethronement

In this conceptual paper, we review latest developments related to unmanned vessels and sketch potential scenarios that implicate with the existing maritime industry structure. On the one hand, we isolate a range of challenges that make the imminent realization of unmanned vessels seem like a rather utopian pursuit. On the other hand, we explain the reasons that may catalyse their emergence. Inspired by these opposing tensions, we highlight that the digital transformation of the shipping industry has the potential to enhance value within the industry’s ecosystem. However, we also contend that unmanned vessels -if realized- pose a very particular threat to the identity of the shipping industry as we know it. In particular, we build upon the concept of value migration and we highlight the drastic existential changes that may likely stem from a shift to non-seafarer-centric shipping. We conclude with questions that matter for industry dethronement purposes i.e., the possibility that existing industry structures may be substantially reconfigured following a removal of the seafarer as the nucleus of value creation in shipping

Business models innovation in investment banks: A resilience perspective

© 2020, The Author(s). Firms frequently change their business models in order to respond to internal and external challenges. This study aims to explore how investments banks adjust their business models in response to internal and external challenges. Based on a qualitative data from ten major investment banks operating in the largest financial market in the Middle East, we show that investment banks can achieve resilience by adjusting their business models through continuous activity changes in response to internal and external challenges. Specifically, investment banks adjust their business models through deploying alternative combinations of activities from a broad repertoire of activities. Within the same bank, divisions that respond to external challenges tend to sustain their performance, whereas resilient divisions that respond to both internal and external challenges tend to bounce back or achieve substantial increase in performance levels. This study contributes to the literature by proposing resilience as an alternative approach to business model innovation and by providing insight into how firms adjust their business models by altering specific activities in response to both internal and external challenges

Does ambidexterity in marketing pay off? The role of absorptive capacity

© 2020 Elsevier Inc. Research in marketing and other organizational domains shows that the ambidexterity–firm performance relationship is elusive, and high levels of both exploitation and exploration may not always lead to higher firm performance. To shed light on this topic, this study examines marketing ambidexterity (MA) as balanced levels of exploitation and exploration across marketing activities and tests how firm-level absorptive capacity (AC) moderates the MA–firm performance relationship. Analyzing a unique dataset that combines survey and archival financial data from 318 private firms, this study finds that MA is positively associated with sales growth for firms with relatively strong AC. This relationship becomes negative for firms with weak AC. Results are robust when the additive and multiplicative terms of exploitation and exploration are controlled for. Study findings underscore the critical role of organizational knowledge processing in ensuring that firms can benefit from the pursuit of MA

STRATEGIC REFERENCE POINTS, RISK AND STRATEGIC CHOICES IN SMALL AND MEDIUM-SIZED ENTERPRISES

This article presents a realistic view of the strategic process in small and medium-sized enterprises (SMEs). The study integrates prospect theory and strategic reference point theory: strategic choices depend on how the decision maker perceives the situation in relation to the reference and the risk being taken. Applying Rasch models to a sample of firms in the Canary Islands (Spain), the results show that SMEs that are more influenced by external references take higher risks. These enterprises differ in their strategic choices from those that do not focus on external references in the greater importance they attach to market diversification. This study is pioneer in considering the internal and external dimension of references that SME managers have in mind and linking them, via prospect theory (Kahneman, Tversky 1979), to the risk they take in their strategic choices. It also has the added value of applying Rasch Measurement Theory. For managers, the study of the SRPs shows a large number of enterprises with a more internal than external view. Thus, the need for rethinking their SRPs and for designing a greater market orientation of firms in the service sector is worth highlighting. There are also important implications for the public administration and institutions. They should emphasize the promotion of cooperation among enterprises to increase their external orientation and then, the importance of external SRPs. Training, financial and organizational support could be some of the strategies that ought to be implemented. First published online:  02 Oct 201

Business model innovation of International New Ventures : an empirical study in a Swedish context

Business model innovation (BMI) is receiving increased academic attention as a tool for gaining new or retaining existing firms' competitive advantages. This paper investigates value delivery and value capture dimensions of BMI utilized by international new ventures (INVs) and shows how this category of firms differs from other internationalized firms in Sweden. Our findings indicate that INVs tend to innovate value delivery and value capture dimensions in the form of sales channels and logistical methods more frequently than other internationalized firms and reconfigure their external relationships more intensively as well. By utilizing longitudinal data, we show that these aspects continue to differentiate INVs and constitute a unique characteristic of INVs over time. Hence, this study enhances the academic debate on business models of INVs as well as on their long-term development past early internationalization efforts. From a managerial perspective, the study highlights where to focus BMI initiatives for sustained international presence and growth.La Innovación del Modelo de Negocios (IMN o BMI por sus siglas en inglés) está llamando la atención entre los académicos, como una herramienta que permite a las compañías ganar nuevas ventajas competitivas o retener las existentes. Este artículo investiga las dimensiones de entrega y captura de valor de la IMN utilizada por nuevas empresas internacionales (NEIs o INVs por sus siglas en inglés) y muestra cómo éstas se diferencian de otras empresas internacionalizadas en Suecia. Nuestros resultados indican que las NEIs tienden a innovar las dimensiones de entrega y captura de valor, en forma de canales de venta y métodos logísticos, más frecuentemente que otras empresas internacionalizadas y que, además, reconfiguran sus relaciones externas de forma más intensa. A partir de datos longitudinales mostramos que estos aspectos diferencian a las NEIs y constituyen una de sus características únicas a través del tiempo. Por lo tanto, este estudio mejora el debate académico sobre los modelos de negocio de las NEIs, y su desarrollo a largo plazo como fruto de esfuerzos tempranos de internacionalización. Desde una perspectiva gerencial, este estudio muestra en dónde enfocar las iniciativas de IMN para lograr presencia internacional y crecimiento de forma sostenible.Originally included in thesis in manuscript form</p