Business Proposition Research Articles

“Discovery Towards Strategy”—Co-Creating an Institutional Innovation Strategy for Digital and Medical Education

Through the pivot to emergency remote teaching during the pandemic, most universities have managed to become ‘digital’, at least in the delivery of educational programmes and business operations. And yet, the purposeful design and use of technology for education is far from the reality of such a pivot and remains difficult to achieve. While most universities outline some level of digital transformation as part of their innovation narrative and strategies, there is only a limited number of universities that adopt the culture of co-creation. This paper illustrates a bottom-up approach to the co-creation of a new digital and medical education strategy in a London-based Russell Group university to bring on change that is fit for purpose. The findings include the key insights, specifically, the five key values of what the community believed to be crucial—(i) broadening access to education, (ii) flexibility, efficiency and convenience, (iii) authentic learning, (iv) business proposition, and (v) pastoral care; and the eight areas of opportunities and challenges—(i) human relationships, (ii) co-creation, (iii) digital engagement, (iv) digital pedagogy, (v) digital literacy, (vi) edtech and IT infrastructure, (vii) support, and (viii) digital assessment and feedback. This paper also outlines the strategic project plans that were generated and since implemented as a result of the co-creation process. The limitations and future directions of this study are also noted.

Risk and Value Informed Structural Health Monitoring System Design for the Miter Gates

The ultimate goal of a Structural Health Monitoring and Prognostics system (SHM/DP) is to interrogate the data gathered in situ to infer the state of the structure (diagnostics), evaluate the system's evolution over time (prognos-tics), and leverage the diagnostic and prognostic results to facilitate decision-making. As a compelling business proposition, SHM/DP is expected to deliv-er economic returns through data-informed lifecycle management decisions, surpassing the estimated costs encompassing the design, initial deployment operations, and maintenance of the SHM/DP system. Therefore, it is prudent to approach a system design problem with a cost-benefit analysis perspective, aiming to achieve a design that maximizes the Value of Information (VoI) ac-quired by an information-acquisition system, evaluated in a pre-posterior sense. In this paper, our focus is on a sensor optimization framework that aims to maximize the VoI over the lifecycle of a miter gate structure. We em-ploy the proposed Bayesian sensor optimization framework to assess the ef-fectiveness of various Value of Information (VoI) metrics in quantifying the overall benefits of an SHM/DP system. Additionally, we explore the impact of the decision maker's risk profile and the adopted decision policies on the system design.

Thermal energy community-based multi-dimensional business model framework and critical success factors investigation in the mediterranean region of the EU

Rural areas have gained relevance in the EU policy framework as a result of the experienced depopulation trend experienced in these areas. Smart Rural Communities are recognized as effective means to tackle this issue by delivering smart services to local population leading to improved economic competitivity. One of the major challenges, among others, is to deliver renewable energy matching existing demand in opposition of fossil-fuel based solutions. To this end, Energy Communities (EC) potential to deploy Renewable Energies (RE) while improving supplier – consumer engagement and empowering the energy consumer. Despite the advances throughout the EU in the deployment of ECs, the vast majority of them are based on PV systems, leaving a huge path for development of novel business models for thermal energy communities, mainly due to the existing economic and social barriers to thermal energy communities’ deployment.The present work aims at contributing to the closure of this research gap by systematizing community-based business model arrangements for thermal energy communities’ deployment to then identify the relevance of main affecting parameters and identify the critical success factors for business model success. To do so, a novel multi-dimensional business model framework is proposed to promote the deployment of Thermal Energy Communities based on the use of local biomass with a District Heating (DH) network distribution system. The proposed framework analyses business model viability in terms of economic and environmental benefits for different EC layouts according to spatial configuration of the demand –clustered/urban vs. scattered/rural – and to demand profile – industrial/low seasonality vs. residential/high seasonality. Results show that business models are economically viable in terms of payback period below boiler service life and NPV/IRR of the investment needed for all cases, although best results are obtained for clustered and industrial demand as a result of lower investment requirements to deliver the same amount of energy. Critical success factors to ensure business model viability are also investigated, finding the minimum natural gas tariff that makes economically viable the thermal EC business proposition. Last, the business model incorporates the use of digital tools for biomass traceability and low carbon certification enabling local biomass use and supplier – consumer transparency that promotes greater stakeholder engagement. Also, biomass digital traceability is aligned with current regulatory framework in the EU, namely the Renewable Energy Directive (RED II) and the upcoming revision of it (RED III), making the EC business model up-to-date and competitive in terms of services offered to the end-user.

Learnings from Rolls‐Royce hybrid propulsion systems in flight testing of High Power, High Scalability Hybrid Powertrain aircraft

AbstractThis article describes the collaborative efforts between Tecnam, Rolls‐Royce, and Rotax to equip a 4‐seat Tecnam P2010 aircraft with a parallel hybrid‐electric powertrain, the first of its kind ever developed for general aviation, to help reduce fuel consumption while maintaining, and even extending, the aircraft range. The High Power, High Scalability Hybrid Powertrain project set out to design, build, ground‐test and demonstrate in a flight campaign such a propulsion system. Creating a parallel hybrid‐electric drive system, which brings together the electric and combustion engine worlds, creates a completely new set of challenges in the design, assembly, operation, and safety assurance of aircraft which must be addressed for a successful business proposition. The article reflects on some of the challenges faced as this innovative and scalable powertrain was developed on the road to minimise emissions in the aviation industry.

Special issue on all‐electric and hybrid‐electric flight

Special issue on all‐electric and hybrid‐electric flight

Application of Prospect Theory to Microinsurance Based on Contingent Valuation Approach for Poor Population in Ukraine

This paper takes a behavioral economics approach and empirically tests if Prospect Theory can explain behavior of low-income people in Ukraine. The study uses the contingent valuation method due to direct inquiry of low-income people, in a survey, how much they would be willing to pay for insurance and to get back in case of an insurance event arising. This paper provides suggestive evidence that according to Prospect Theory poor individuals make decisions based on expectations of loss or gain from their current relative position and are more sensitive to losses compared to gains. The work also answers the question concerning the microinsurance: can microinsurance be a business proposition and provide value for low-income people at the same time? The results lead to the power-law distribution of potential clients according to the price of a microinsurance service. The obtained correlations help to formulate strategies to tap the low-income market in the country.

‘What are people watching in your area?’: Interrogating the role and reliability of the Netflix top 10 feature

Netflix’s status as a personalised service has been central to its business proposition and brand. However, recent changes to include community-based metrics within the user interface – such as the 2020 addition of a national top 10 feature – denote a shift in corporate strategy from personalisation to communal discovery. This article uses a critical communications and media industry studies approach to consider both the data being produced by the top 10 ranking and the broader industrial function of the list, especially within a longer history of audience measurement.

Joint tank container demurrage policy and flow optimisation using a progressive hedging algorithm with expanded time-space network

A key feature of the tank container (TC) operating industry is that customers overhold TCs to provide temporary storage equipment for their contents rather than provide their own storage facilities. TC operators charge a very profitable fee (demurrage charge) for this service making it an attractive business proposition, but it can be detrimental to holistic network flows and fleet sizing. This paper addresses the problem of jointly optimising TC demurrage policy and TC flow, in the face of uncertain TC maintenance times, to maximise profits. A progressive hedging algorithm with expanded time-space network (PHA-ETSN) is designed to tackle this tactical level optimisation problem as other established techniques struggle with this optimisation in terms of computational time and memory requirements. Experiments are performed to illustrate how the optimisation tool can be used to investigate how demurrage policy affects different operational costs and TC hire revenue and thereby profit. These experiments demonstrate how the optimisation tool can be used by managers not only to optimise demurrage policy but also to explore and to understand more deeply the costs and profits in their operations.

Polymatic plastics & packaging – market deepening versus geography expansion

Learning outcomes Learning outcomes are as follows: to understand the need for a small business to expand geographically; to evaluate the business dynamics and challenges faced by an entrepreneur during the business life cycle; and to analyze the geography and create a growth strategy for small business setup in a phase where competition is moving from a moderate to an intense stage. Case overview/synopsis Polymatic Plastics & Packaging (PPP), a proprietorship firm of Mr Shantanu Kalia at Ludhiana, Punjab, India, was formed in 2016 and is involved in the manufacturing of bubble packing and stretch films. Growing business and competition have created both unique challenges as well as propositions for PPP. While growth in business is encouraging Shantanu to secure more contracts for his manufacturing unit, increased competition within Ludhiana is also creating a dilemma to either compete on home turf with USPs ranging from product quality, pricing and superior turn-around-time or explore additional geographies and expand horizontally. Complexity academic level The case is suitable for courses on entrepreneurship and geography strategy in graduate business programs. The case is also suitable for executive program for budding entrepreneurs seeking to explore specific service/product as a potential business proposition and building their business around it. Supplementary materials Teaching notes are available for educators only. Subject code CSS 3: Entrepreneurship.

Reading Mathematics in Early Modern Europe: Studies in the Production, Collection, and Use of Mathematical Books. Philip Beeley, Yelda Nasifoglu, and Benjamin Wardaugh, eds. New York, NY: Routledge, 2021. Hardcover, 348p. $160 (ISBN 978-0-367-60925-2). Ebook, 348p. $44.05 (ISBN 978-1-003-10255-7).

Mathematics in print was not a good business proposition, at least not for printers in London in the seventeenth century. In his chapter, “‘A Design Inchoate’: Edward Bernard’s Planned Edition of Euclid and Its Scholarly Afterlife in Late Seventeenth-Century Oxford,” Philip Beeley details the winding path of a proposed edition of Euclid’s Elements , showing just how many hands, how many years, and how much convincing it took for a project of clear academic importance to be realized in a final, printed form. Beeley, along with Benjamin Wardaugh and Yelda Nasifoglu, is one of the editors of Reading Mathematics in Early Modern Europe: Studies in the Production, Collection, and Use of Mathematical Books , an engrossing new book published last year by Routledge. The editors write, “By defining and illuminating the distinctive world of early modern mathematical reading, this volume seeks to close the gap between the history of mathematics as a history of texts and history of mathematics as part of the broader history of human culture” (i)—an ambitious academic project, and one that is realized quite successfully here. Each of the 11 chapters in the book is an essay that supports that argument from a different angle. Some focus on the history of specific mathematical concepts and on their textual transmission, and evolution, over time. Others zoom in on historic figures in the field and the textual artifacts they left behind. All of the chapters engage with the transmission of mathematics at the material level in some way and are grounded in the analysis of early modern texts, diagrams, and the material evidence of readers’ interactions with them.

​Rabbit Raising- A Case Study

In this study we looked at the culture, rearing, housing systems, health problems and economical factors affecting the rabbit production in rural areas as well as in urban areas. The rabbits are susceptible to nature and the climate and the surrounding in which they are kept, hence in this case study we have discussed the keeping of rabbits so that maximum productivity can be obtained from them leading to maximum profit. Rabbits are very profitable in the commercial sector and hence people living near any medical laboratories, etc. used to rear rabbits as a major part of their business. Yield from rabbit business has grown over years making it a very attractive business proposition.

Explaining the success of a multinational company's innovation in the base of the pyramid: m-pesa in Kenya

In the beginning of the twenty-first century, C. K. Prahalad launched a new business proposition named as “Base of the Pyramid” (BOP). In such type of business, Multinational Companies (MNCs) look for new opportunities of profits helping to meet the poor’s unmet needs in developing countries. However, MNCs significant involvement in BOP business has been losing momentum due to the challenges MNCs have been faced in developing BOP businesses. This study intended to recall Prahalad’s original BOP proposal explaining the success of a BOP innovation developed by an MNC in Kenya: M-PESA, a mobile money service. About 70% of Kenya’s adult population has M-PESA accounts and M-PESA’s monthly transactions account for 30% of Kenyan GDP. How did a multinational company develop the successful BOP innovation M-PESA in Kenya? Our study intends to explain how the British multinational Vodafone employed successful Base of the Pyramid principles of innovation in Kenyan M-PESA. Indeed, there is a gap of studies about the Prahalad’s principles of innovation for developing BOP products. Therefore, this research analyzed Prahalad’s BOP proposal, including his twelve principles of innovation to develop BOP products, by comparing such proposal with Karnani’s framework for fighting poverty. Karnani is regarded as the main critic against the Prahalad’s BOP proposal. Most of Prahalad’s BOP principles of innovation were identified in M-PESA in Kenya (eleven out of the twelve principles). However, Karnani’s framework explained better the factors that influenced successful BOP innovation in Kenyan M-PESA than Prahalad’s proposal. Furthermore, this study pointed out two key points that explained the success of M-PESA innovation in Kenya that they were not included neither in Prahalad’s nor in Karnani’s proposals: social intrapreneurship made by MNCs employees, and supportive role of government in developing BOP businesses. Therefore, such topics deserve more attention from the BOP literature in order to advance this field.

University Student Housing as Business Proposition and Entrepreneurial Activity: The Canadian Case

Canadian universities are increasingly relying on private-sector participation in the provision of student housing through new means and strategies, such as financialization and public–private partnerships (P3s). Such participation is furthering the transformation of students as consumers and universities as neoliberal subjects embracing business propositions and entrepreneurial initiatives. We discuss the precedents, current motivations for university administrations, and effects of private-sector participation in shaping contemporary student housing landscapes in Canada, with a view to the international situation. Ultimately, the overreliance on market-based and P3 solutions for new student housing is not resolving the immediate housing availability and affordability needs of Canadian university students; it is, rather, entrenching enclaves of exclusive student housing for some while doing little to reduce the barriers to adequate housing for a far larger number of students. For further exploration and debate, we conclude with a reflection on alternative, participatory, and inclusive student housing solutions beyond P3s.

Inclusion and Disruption- Strategic Implementation in Modelling Agency (Business Proposition) with insights from the Music Industry

The research topic is based on studying the concept of Inclusivity in the fashion industry and the following results were concluded- Customers buying behavior may not be positively correlated with the inclusivity in the representations of the brands, emerging Brands and new Modelling Agencies are more inclusive than luxury brands and old established Modelling Agencies, Inclusivity in representations is directly proportional to the presence of inclusivity and diversity task force in the workplace in a brand and a model agency. Strategies like Diversification, Co Innovation, Social Media strategies and Blockchain are used in the music industry to stay relevant and combat disruption, Inclusivity in the music industry is also discussed that are further used to create a business plan for a model agency in the current times also considering the risk factors including crisis (Covid-19), rise in Influencer Marketing. The insights from the music industry is also derived based on the history of both the industries influencing each other and moving in a synchrony. Change in music industry trends impacts the fashion industry and gives rise to new fashion trends. The hip hop era when the Rastafarians became popular in the early 1990s, the fashion representation shifted in sync with this era and supermodels Tyra Bank and Naomi Campbell’s reign began, designers like Jean Paul Gaultier also included the red, golden green color of Rastafarians in his collection during this time. After learning about Inclusion specific business models in the fashion industry like Savage Fenty. we tend to focus on a business proposition based on an inclusion specific business model. Choice of client will emphasize on the ESG Factors making the agency well prepared for the fashion industry of the future. The co-existence of the physical and digital world has become an essential part of the fashion industry and a similar approach should be implemented in the model agency. Both fashion brands and model agencies should examine and listen to the varied underrepresented groups within the global industry so that tailor-made support can be created and provided in order to take the industry into a greater path of fairness and inclusion.

Business Model Innovation and Experimentation in Transforming Economies: ByteDance and TikTok

ABSTRACTFirms from transforming economies can leverage the characteristics of their location to develop innovative business models before internationalizing. This note showcases ByteDance's innovative business model for its TikTok app, which became one of the most downloaded apps globally. ByteDance used its large and increasingly demanding home market to experiment with creative combinations of business model elements to develop a unique business proposition that positions the TikTok app as a hybrid of social networking and video-sharing. In addition, TikTok benefitted from China's IT strength supported by national high-tech policy to an AI-based recommendation algorithm as a non-location bound resource. TikTok shows that firms from transforming economies can launch successful global products through business model innovation.

Advent of Renewable Energy Market– Understanding Critical Success Factors in PPA Model

Under the market reforms, the unbundling of energy systems has opened new areas for value creation at a competitive price, which was impossible in centralized energy markets dominated by utilities. The renewable energy market via Power Purchase Agreement (PPA) has emerged as a realistic business proposition within such reforms. In the last decade, the renewable energy market based on the PPA scheme has seen unprecedented growth in Europe and North America. The falling cost of renewable energy and exigency to achieve energy transition targets have created new opportunities for Independent Power Producers (IPP) via the PPA route. Alongside, the PPA improves bankability and ensures a long-term revenue stream for renewable energy projects in the subsidy-free environment. On the contrary, the complexity of PPA models, market risks, and intermittency of energy generation pose challenges to IPPs and buyers. Considering PPA is an evolving concept, this paper aims to contribute to the existing knowledge on PPAs by analyzing critical success factors in the PPA model. During analysis, the elements that emerged as critical success factors are 1) tariff design, 2) bankability to secure funds, 3) addressing intermittency, and 4) stakeholder engagement. With a focus on regional settings and emerging trends, this paper discussed the rationale for PPA model selection, risk management practices, and strategic partnerships for value creation. During analysis, we also observed that the PPA schemes are driven by local market configuration, demand patterns, and country-specific policies.

POTENTIAL OCCUPATION IN HALAL INDUSTRY FOR REINFORCEMENT SHARIA ECONOMIC LAW

One of the main critical but interesting issues today to be discussing and debated even there is no right or wrong answer to this issue, is the job opportunity and career for young graduates in almost all educational disciplines especially social and religious science which including also halal science in the current of uncertain and bad economy situation. It is a known fact that everyone of us including myself has gone through a rough start in our life or career upon graduations many years ago. We grabbed whatever came along the way before we built our successful career. We have to pick up any jobs along the line as we have got bills to pay and stomach to feed and later on family to take care. In this article, discussion will be made to identify the challenge and job opportunity for halal science graduates. Its challenge is not so critical as others because halal education is a new discipline that rooted in the Holy Quran and the Sunnah of the Prophet Muhammad (s.a.w) and emerges in modern life as a result of high demand of global society since halal business proposition is ready to be the next world market force in global. In this regards, various Islamic political policies have been determined and implemented in Muslim countries notably Negara Brunei Darussalam for the purpose of disseminating and developing halal education for global reach. It is found that the graduates of halal science may try to secure their job and career in many positions notably as government servant in several Ministries i.e.., education, health, agriculture, trade, finance, etc.; halal auditors; halal consultants; working in Industry/company; research assistant & researcher in Universities; Educationist i.e., teacher; religious preachers (Da`i); academician; halal- entrepreneur and MA & PhD Students.

Renegotiating organisational crisis management in urban tourism: strategic imperatives of niche construction

PurposeThis paper aims to respond to the strong calls for interdisciplinary solutions to address the many and varied challenges that major disasters create in urban (tourism) spaces, and provide a holistic conceptualisation of organisational responses to disruptions in the external business environment. It argues that organisations need to actively (re)formulate a sustainable business proposition to passively adapt to environmental conditions and modify the selective environment.Design/methodology/approachThis study uses a qualitative approach to introducing and examining the concepts and theoretical constructs underpinning the proposed conceptual schemata. The content-driven inductive approach used here is based on an extensive review of the disaster recovery, crisis management, entrepreneurial strategy and urban tourism literature with a focus on organisational perspectives. It systematically brings together the theories and research findings from these separate strands of literature.FindingsWhile the extant literature focuses on the importance of effective adaptability to survive and thrive in environmental uncertainties, some aspects of the relevant evolutionary processes are not addressed in the context of urban tourism. Indeed, a systematic approach that questions how urban tourism and hospitality businesses react to crises has been long overdue. This paper, therefore, introduces niche construction theory (NCT) as an alternative and proposes an integrated framework to understand the environmental conditions of urban tourism and organisational evolution during post-disaster turbulence.Research limitations/implicationsThe proposed model emerging from a multidisciplinary literature review acknowledges boundary conditions in the tourism industry-specific interpretation of a crisis situation. The tenets of NCT need to be adopted flexibly rather than as part of a strictly prescriptive process to allow for all aspects of the related business responses to play out and become exposed to the emerging selection pressures.Practical implicationsThe argument underpinned by the theoretical constructs of niche construction encourages and offers a framework for practitioners to actively (re)formulate business proposition and (re)construct organisational niche to survive post-disaster turbulence in the business environment and exert influence over their own evolution.Originality/valueThis paper offers different angles, filters and lenses for constructing and interpreting knowledge of organisational evolution in the context of crisis management. The conceptual schema (Figure 2) emerged as a novel contribution itself providing a necessary lens to interpret the empirical data and understand the complexities of the organisational responses to the disruptive post-disaster turbulence in an urban tourism business environment.

Analysis Of Perception Of Rural People Towards Socio-Economic Impact Of Financial Inclusion – A Case Study Analysis

The governments of India and other developing countries have made Financial Inclusion a priority – evidenced by policy development, regulatory reform and new funding vehicles. The government of India has set a target of reaching full inclusion by 2015. These objectives will be achieved through financial instruments, such as micro credit, which has achieved positive results, helping thousands of the world’s poor to lift themselves out of poverty. This paper examines the socio-economic impact of financial inclusion on rural people in Goa.
 
 It is now well understood that financial inclusion helps the poor in more viable and profitable way by providing them ability to do business with banks and other financial institutions. The provision of uncomplicated, small, affordable products can help bring low-income families into the formal financial sector. Taking into account their seasonal inflow of income from agricultural operations, migration from one place to another, and seasonal and irregular work availability and income, the existing financial system needs to be designed to suit their requirements. Mainstream financial institutions such as banks have an important role to play in this effort, not as a social obligation, but as a pure business proposition.

Qualities of Entrepreneurial Design Conversations

In our daily practice of teaching and coaching students how to develop their business proposition for their high tech new ventures, we build on innovation and design sciences. In developing their business proposition, students engage in several activities simultaneously and also change their activities frequently. How can we, as educators, understand this process of always changing activities while being in the midst of coaching students? We investigate this process by analysing coaching conversations we have with students in our course Clean Tech Launchpad. Based on the theory of complex responsive processes of relating and the participatory innovation construct ‘quality of conversation’, this paper discusses how design as a social activity around the business proposition takes place in the interaction between coaches and students. Therefore, we introduce the term ‘Quality of Entrepreneurial Design Conversations’. This local creation of meaning helps to design the business proposition development process of students.