Well-established Companies Research Articles

Extending behavioral theory of the firm to new ventures: Dispositional optimism as a moderating influence on new product introductions in high-tech ventures

Extant literature has typically drawn from the behavioral theory of the firm (BTOF) to examine new product introductions in the context of well-established companies. This paper extends the behavioral theory of the firm to entrepreneurial firms and argues that jointly considering founders' dispositional optimism together with the performance feedback promises to yield a better understanding of new product introductions in new ventures. We analyze a longitudinal dataset on the activities of 344 newly founded high technology ventures in the United States. The key insight of our study is that when BTOF is applied to the context of nascent, entrepreneurial ventures, the personality and dispositional characteristics of the entrepreneur must be considered. Specifically, we find that performance attainment discrepancy leads to new product introductions, but only when the entrepreneur's dispositional optimism level is high.

Does CSR affect investment efficiency? The moderating role of company reputation

PurposeThe purpose of the paper is to investigate the association between corporate social responsibility (CSR) and investment efficiency (INE) in Bangladeshi pharmaceutical companies and to explore the moderating role of corporate reputation in this relationship.Design/methodology/approachThe paper employs a two-step method, with stage 1 involving the development of a theoretical model using the literature's strategic framework and stage 2 using structural equation modelling (SEM) to investigate the relationships between variables. The data set used in the analysis includes 296 responses from senior executives/managers and subordinates at Bangladeshi pharmaceutical firms.FindingsThe study finds that CSR activities that focus on customers, employees and the community significantly affect INE, as well as the extended stakeholders, and that company reputation moderates this relationship. The effect of CSR on INE differs between well-established companies and business firms with favourable reputations.Practical implicationsThe paper contributes to understanding the relationship between CSR and INE in a developing country context and highlights the importance of corporate reputation in this relationship. The findings suggest that companies can enhance their INE through CSR initiatives and that a positive reputation can strengthen this relationship further.Originality/valueThe study adds to the limited literature on CSR and INE in developing countries and provides new insights into the moderating role of corporate reputation in this relationship.

FEATURES OF VALUATION OF STARTUP PROJECTS IN ENTREPRENEURIAL ACTIVITY

Startup valuation, an intricate endeavor due to the unique characteristics of these entities, presents distinct challenges when compared to the valuation of well-established companies. This article examines the complexities inherent in valuing startups, shedding light on the absence of historical data, heightened levels of risk associated with startups and their dynamic environments, the inherent uncertainty in forecasting future development, and the pronounced influence of intangible assets on the overall business valuation. In addressing the valuation of startups, several methods are explored, each with its advantages and limitations. The scenario-based approach, encompassing a range of potential outcomes from successful to failure scenarios, provides a comprehensive assessment of startup value. Additionally, the venture capital method, relying on expected company value at the investor’s exit point, enables valuation without the need for exhaustive cash flow forecasting. These methods take into account the unique dynamics of startup growth and risk. Furthermore, the article stresses the significance of meticulous market analysis, rigorous evaluation of company potential, examination of industry-specific data, and careful consideration of tax incentives. These factors are crucial for a thorough understanding of the startup’s financial health and future trajectory, which directly impacts its value. To achieve a more objective and accurate valuation, it is recommended to employ a combination of valuation methods, considering the startup’s stage of development and specific characteristics. Diverse data sources, including empirical studies and industry benchmarks, can enhance the accuracy of estimates. In conclusion, the article asserts the importance of advancing startup valuation methodologies. Drawing from international experience and conducting in-depth research in specific areas can lead to improved precision, enhanced objectivity, and reduced risks of errors in the valuation process. By refining the valuation techniques, stakeholders can make more informed investment decisions and contribute to the growth of the vibrant startup ecosystem.

The Use of WhatsApp Business as an Online Marketing Communication Media for Beauty Brands During the Covid19 Pandemic in Indonesia

The pandemic of Covid-19 has an impact on all aspects of human life and changed human lifestyles around the world, including Indonesia. The economy is of course one of the sectors affected by this pandemic. Companies must be creative and use various strategies in order to survive. Especially for companies that do not produce non primary products such as beauty products. Large companies that have survived for decades with beauty products that are well known and also have offline stores in various cities was not an exception. One of the effort taken is to reduce the cost of marketing communication which maximizes the online platform. This research was conducted to determine the use of online marketing communication (OMC) media by beauty brands during the Covid-19 pandemic, the OMC media referred in this research are WhatsApp Business. Conducted using descriptive method, through observations and interview to customer of beauty brands that have been operating for decades and also have an established brand. Results of this research showed that the advantages of using OMC is to maintain the existence of their brands and increase revenue, these large and well-established companies choose WhatsApp Business as the OMC media which are usually used by companies that are relatively new or not really popular. Based on customers’ experience, the existence of WhatsApp Business is very helpful in order to obtain what they need, including beauty products, especially during pandemic, so customers don't have to leave their home, they only need to use their smartphone, shopping is now as easy as sending message. Research’s conclusion, the selection of WhatsApp Business as one of the OMC media by various beauty brands is not stupid at all and also reasonable. This research is expected to provide input and evaluation for non-primary products or brands that are closely related to lifestyle in order to increase revenue and maintain engagement with customers during the pandemic, online and low cost.

ОСОБЛИВОСТІ МАРКЕТИНГУ СТАРТАПУ КРІЗЬ ЙОГО ЖИТТЄВИЙ ЦИКЛ

This article is devoted to the analysis of marketing features of IT companies, particularly startups. The field of developing innovative and digital products is evolving rapidly, and marketing tools in this industry are constantly being updated. Key stages and factors influencing the creation of a startup's marketing strategy have been identified. A description of the startup's lifecycle is provided, along with examples of successful launches of innovative products. Definitions of the terms MVP (minimum viable product) and pivot and their significance for a startup's marketing strategy are formulated. Development strategies for startups are proposed based on different stages of the lifecycle. Marketing startups have their own peculiarities compared to marketing for more stable and well-established companies. Startups often have limited budgets and resources, which requires marketers to adopt a more creative and efficient approach. The differences in startup marketing compared to traditional marketing include explaining the essence of the innovative idea to the target audience; conducting marketing research for an idea that may not yet exist in a tangible form; developing marketing strategies based on the industry-specific nature of the product or the presence of invested capital; utilizing marketing tools according to the stages of the startup's lifecycle. The uniqueness of the startup lifecycle lies in the need to focus on executing a development plan at each stage to attract funding from investors and ensure successful company growth. If consumers show little interest in the product, the startup must change its strategy, completely revamp the concept, and make a pivot. MVP is a product development strategy where developers create a minimum viable product that allows them to test the hypothesis of its market success and receive feedback from the target audience. The proposed marketing strategies for startups are divided into three conditional categories: independent operation with minimized influence on management, acceleration for scaling, and revival of a failed launch; incubation of the startup with significant authority in financial and marketing policies transferred to business mentors, agents, or incubators.

Industrial Practitioner Perspective of Mobile Applications Programming Languages and Systems

The growth of mobile application development industry made it crucial for researchers to study the industry practices of choosing mobile applications programming languages, systems, and tools. With the increased attention of cross-platform mobile applications development from both researchers and industry, this paper aims at answering the question of whether most of the industries are using cross-platform development or native development. The paper collects feedback about industry’s most used mobile development systems. In addition, it provides a map of the different technologies used by mobile applications development companies according to some of the demographics like company size and location. An online questionnaire is carried out to collect the data. The survey targeted both amateur and professional mobile developers. A total of 85 participants participated in answering the survey. Qualitative analysis using descriptive statistics is done on the results of the survey. Although the results show that there is an industrial trend towards using the cross-platform languages, native development is still used by the well-established companies. More than 50% of the participants are found to be aware of the performance issues of the cross-platform development languages and frameworks. Comparison with findings of related work is discussed which raises more research questions and draws out future research in this field.

The Challenges of Translating Cultural Embeddedness in Crime Fiction: A Picture from Croatia

The aim of the present study is to examine the specific features of translations of crime fiction in Croatia in the 2000s. Frederic Jameson (quoted in Rolls, Vuaille-Barcan, West-Sooby 2016) foregrounds the notion of crime fiction’s role as the new Realism due to the importance it places on historical and geographical specificity, together with the social fabric of our daily lives. As such, it is possible that an excessive emphasis on place in crime fiction may present a particular challenge in translation, not only in terms of the translation strategies chosen by translators, but also in terms of the preferred marketing strategies pursued by publishers and editors and the correspondence between them. This study focuses on the patterns of handling source-culture embeddedness, typical of this genre, in translation. It examines how diverse agents (publishers, editors and translators) involved in the production of translations of this genre interact, and how their interaction influences the decisions on handling the genre’s embeddedness in a particular sourceculture reality. As crime fiction novels are a highly popular translated genre in Croatia, they make up a substantial portion of the production of the publishing sector. For the purposes of this study, a number of crime fiction novels by several frequently translated authors have been selected (P.D. James, Ruth Rendell, and Michael Connelly), published by Croatian publishers with diverse profiles, ranging from well-established companies to those more recently set up. The data analysed includes selected textual segments, the peritext of such editions, and interviews with the agents involved (translators and editors).

Paper-based microfluidics: What can we expect?

Paper-based microfluidics: What can we expect?

Synergy of Innovation between Hybrid Corn Seed Production and Seed Companies: A Review

The availability of seeds is one of the most essential aspects of agricultural development in developing countries and Indonesia is no exception. This requires adequate technological innovation and institutional support. This study aims to describe the synergy of innovation at the level of national companies that provide hybrid corn seeds to farmers. Three levels of company performance were compared namely well-established companies, middling, and less-developed companies. The results showed the performance of hybrid corn seed companies from 2019 to mid-2022 was mainly influenced by the degree of synergy between seed companies and their supporting institutions in implementing improvements in seed production technology. Established companies have better synergy with supporting institutions, hence, they can adequately apply seed production technology producing 4,900 tons of quality seeds, and distributing them to various regions specifically 12 provinces. Meanwhiles, companies that have low synergies with their supporting institutions are very weak, producing seeds only in small quantities at 400 tons. This implies that technological innovations and institution synergy for hybrid corn seed production can be applied by national companies with adequate support from local institutions.

Examining relationship marketing and strategic branding in b2b Greek SMEs: A family business development

Α survey of relationship marketing, branding, and the family business life cycle is conducted to determine the extent to which these variables ensure their path to the next generation. The study examines whether interpersonal relationships apply to family SME businesses and how they adopt relationship marketing as their main strategy. The study provides an insightful benchmarking approach between family businesses in early stage (1st and 2nd generation) and well-established (3rd and 4th generation) companies. In addition, the adopted branding process is examined. A qualitative method was chosen for the interviews with five B2B Greek family companies in the trading sector. Family businesses are Greek, have a known brand name, and family members are involved in the decision-making process. All participants agree that personal or friendly relationships of the owner-founder with customers, suppliers, and staff are crucial at the launch of businesses, and growth is a synonym for business survival. Data analysis revealed that relationship marketing is not related to the stages of development, as different perceptions were observed among participants of well-established and companies in the early stage. The results also show a significant relationship between different stages of family business’s development and branding strategies, documenting that owners of well-established family businesses focus on organizational structure and culture. In contrast, owners of family businesses in the early stage rely on personal relationships. Branding strategy seems to be the appropriate approach for a family-owned business to survive in the marketplace and have succeed pass on to the next generations.

Concurrent product-process-supply chain strategy formulation for small medium enterprises

Small-medium enterprises (SMEs) have the potentials to translate ideas into innovative products in a quick and efficient manner. Therefore, they should be supported to transform into well-established companies. However, SMEs often lack knowledge regarding operation and management. This study proposes three-dimensional concurrent engineering (3DCE) approach to help SMEs accelerate their growth through differentiation and efficiency, leading to high-quality yet low-cost products with efficient delivery. This study aimed to develop a strategic formulation framework incorporating the 3DCE concept in product functionality, concurrent process design, and appropriate supply chain solutions. The framework has been developed and implemented in food and beverage SME. Strategy development follows the traditional approach, including environmental analysis, strategy formulation, and strategy mapping. However, the result of environmental analysis extracted in the form of SWOT and Grand Strategy matrices are specifically piled into concurrent strategic theme covering the concurrent product, process, and supply chain aspects. Predominantly, product features covering the product innovation and functionality and process features covering segmentation-based and cross-functional process designs were tailored with innovative supply chain solutions based on the segmented model. The detailed framework and its implementation are highlighted accordingly.

Device Fabrication from Recycled Electronic Spare Parts: Dip Coating Device and High Voltage Power Supply Adapted for Electrospinning Device

Considering the rapidly increasing amounts of electronic waste, the task of its recycling and disposal is essential and increasingly important all over the world. Recycled components were used to create lab equipment, namely a high voltage power source, an electrospinning device, and a dip coating device. The high voltage power source was created with the purpose of powering the electrospinning device using electronic waste from microwaves, air conditioners, and cars although it can also be modified to power devices such as X-ray machines or ozone generators. On the other hand, the dip coating device was assembled using spare parts from a discarded printer. The validation of their functioning was demonstrated through the presence of sufficiently high voltages and the synthesis of polymeric nanofibers, which were found to be comparable to those produced in a BIOINICIA FLUIDNATEK LE 10. The production of homogeneous films estimated to be of nanometric proportions validated the functioning of the dip coating device. Such equipment can benefit research in locations with a lack of funds, as it is far more economic than the devices from well-established companies.

Isabelle Kocher – can she lead a historic turnaround at ENGIE?

Study level/applicability MS / MBA / Executive Education Subject area Leadership Case overview In 2019, French multinational electric utility company, ENGIE SA (ENGIE) was on the verge of zero carbon transition. Under the leadership of Isabelle Kocher (Kocher) who became the CEO in 2016, ENGIE embarked on an arduous journey toward re-profiling ENGIE toward renewable, low-carbon energies, such as solar, green gases and digital. Kocher inherited a loss-making company and took in on a path of transformation toward a company with business lines for future. This meant ENGIE would slowly move out of energy generation through non-renewable sources, toward renewables along with storage and digital technologies. This case chronicles Kocher’s turnaround plans and investments, and explains how she went about making ENGIE a forerunner in energy revolution. While the turnaround was on track, ENGIE was unable to give returns as expected. With mounting pressure Kocher announced a strategic plan in 2019, which reemphasized ENGIE’s focus on renewables and technology. But several major shareholders including the Government of France were not impressed with the plan. It is time Kocher proves that transformation of ENGIE into a clean power company also means returns for the shareholders. Expected learning outcomes The outcomes are as follows: First, to illustrate how leaders bring in change and innovation in large well-established companies. It shows the role of leaders in leading the innovation process and in molding the companies according to the opportunities and threats presented by the macro environment. Second, to analyze the role of a leader in bringing changes in the organization. Third, to understand the strategies used by energy companies as they position their businesses in the context of a changing energy landscape. Supplementary materials Teaching Note Social implications Renewable Energy – Growing cocnern about the impact of climate change on the world at large, has brought to the fore the importance of renewable energy. Subject code CSS 4: Environmental management

Entrepreneurship, Innovation, and Economic Development: An Indian Experience

Entrepreneurship and innovation are considered as key drivers for economic development. In this study, we made an attempt to answer the question as to what should be the policy framework to encourage entrepreneurship and foster innovative culture in India to achieve the desired level of economic development. Entrepreneurship is built upon pillars such as institutional and policy support, availability of capital and entrepreneurial culture. In an emerging economy like India, the government should institutionalise innovation and entrepreneurship and promote commercialisation of brilliant ideas by emulating the startup ecosystems in the developed nations. Besides the government, large and well-established companies in private sector and research institutes should nurture startups by extending hand-holding support and generous funding. If India wishes to be a leader in innovation, it needs to scale up its gross expenditure on R&D, that is, on par with the advanced economies by engaging more researchers, especially in the private sector. Our article has important implications for policymakers and all key stakeholders, as it can help in identifying and implementing the appropriate measures to eliminate the obstacles that entrepreneurs face and channels to support innovative entrepreneurial activities in India.

Do Human Care and Knowledge Management Practices Really Matter in Determining Worker Productivity? Perceptions of Supervisory Level Employees in Tea Plantation Sector in Sri Lanka

The tea industry is still one of the dominant industries in Sri Lanka due to its vast impact on the economic and socio-cultural environment. However, this significance is gradually declining mainly because of lowering worker productivity. This current study explored whether the decreasing productivity in Sri Lankan Tea industry can be turned around and sustained by implementing human care and knowledge management practices that enhance tea estate workers' quality of life and quality of work life. Un-structured interviews with a random sample of 75 supervisory level managers of well-established tea plantation companies reported that a range of human care and knowledge management practices contribute to enhance worker productivity via enhanced quality of life and quality of work life. The findings provide implications to the social exchange and psychological contract theories whereas policy makers should implement proposed knowledge management and human care practices for enhancing the worker productivity.

Use of Big Data to Aid Patient Recruitment for Clinical Trials Involving Biosimilars and Rare Diseases.

Patient recruitment and retention are arguably the greatest challenges to the timely execution of clinical trials. This is particularly true in the case of trials involving biosimilars and those focused on rare diseases. For biosimilars, recruitment success typically hinges on difficulty of access to reimbursement for the originator product and may be hindered by competition from studies with other biosimilars and those with new chemical entities.For rare diseases, recruitment success depends not only on finding enough patients but also on retaining them for the duration of the trial. Historical success with patient recruitment-in addition to site qualifications-needs to be considered in parallel with current market competition and results in an ever-changing patient recruitment environment. Multiple companies supporting the biopharmaceutical industry, such as Contract Research Organizations, have begun to leverage sophisticated data modeling tools and techniques to find additional patients for biosimilar and rare disease trials and/or to find patients more quickly. In addition, these companies seek to better understand the population of interest and refine their statistical assumptions when conducting clinical trials or real-world analyses. The largest and most well-established companies that support the biopharmaceutical industry now have unparalleled access to big data from clinical trials, electronic health records, medical claims, laboratory tests, and prescriptions. This paper will discuss how big data can be harnessed to aid patient recruitment with a focus on clinical trials for biosimilars and orphan rare diseases.

Aircel Crisis: Disruptive Competition or Corruption– What Next?

Even though the emerging economies are growing with a fast pace, they have their own problems like growing population, corruption low per capita income and low purchasing power. India has its considerable dynamics like lower middle-class consumers, price competition, disruptive technologies and corruption. The present case study is about a struggling player of telecom industry in India. The telecom sector of India is an oligopoly market with only few dominant players. Entry of Relience-Jio in the year 2016 disrupted the market and making it difficult for all well-established companies to stay afloat. Aircel India, once a poster boy of Indian telecom sector, finds itself into intensive competition and numerous corruption charges. The case presents an opportunity in front of the students to evaluate a series of difficult decisions, all of which require trade-offs in the interest of keeping the company afloat. The case is developed by the data collected using unobtrusive methods from newspaper articles and research reports on the topic.

“Why do we not buy mass customised products?” – An investigation of consumer purchase intention of mass customised products

© 2019 University of Novi Sad. Mass customisation has become a prospective business strategy for many industries. Despite the great efforts that have been put into implementing product configuration systems (e.g., NikeID), the Deloitte Consumer Review 2019 indicated that nearly half of consumers still prefer to buy mass produced products. Another study by Khan and Haasis (2016) also concluded that the increase in mass customisation has led to a decline in customer satisfaction of the sales process. Given these considerations, this paper aims to investigate, from the consumer's perspective, the factors that influence consumer purchase intention of online mass customised products. The primary contribution of this study is that we found in addition to price and design freedom, website information quality and the visual presentation of customisable products have significant influences on consumer purchase intention. Specifically, participants preferred to have intuitive and sufficient information as well as a 3D visualisation of the products to help them understand what the customisation options are, how to interact with them and to see a full view of the final products. In addition, we found participants responded differently to new companies and well-established companies. Here, lack of trust is one of the main reasons stopping consumers from purchasing mass customised products from new companies; while for well established companies consumer individual differences especially their personal preference is more determinant. Accordingly, we suggest that new startup companies and well-established companies should take different strategies to attract potential consumers.

Flat Roofs Defects – Norwegian Building Sector Perspectives

Flat roof constructions covered with flexible roofing is a common feature on large buildings, as they are robust and require little maintenance. However, faults in flat roof design or their assembly could lead to costly building damages or defects. A preliminary mapping of main risk factors for flat roof defects has been carried out by studying design, assembly, and maintenance practices. This article is based on semi-structured interviews with actors in the Norwegian building sector between September 2017 and March 2018. The interviews did not target a specific subgroup; a broad and explorative approach was instead chosen in order to seek out opinions from all parts of the supply chain. The goal was to map knowledge and attitudes regarding flat roof faults. A point of particular interest concerned the perceived prevalence of substandard constructions due to counterfeit materials or shoddy building practices. It was found that most roof faults could be attributed to aging or design flaws. Counterfeit materials or shoddy workmanship was perceived to be uncommon among large and well-established companies. However, responders from several backgrounds – manufacturer, municipal and university building owners – suspected that such malpractices might be more common among smaller contractors geared towards the non-professional market. As a whole, the Norwegian roofing industry was perceived by respondents as generally trustworthy and compliant with regulations. However, interview responses suggest further research is required on the practices in the non-professional sector.

Using Serious Games to Inform Mass Customization Production Methods from the Fuzzy Front-End of New Product Development

Mass customization means to offer products or services which meet the demands of each individual customer, but which still can be produced and delivered with mass production efficiency. The buzz surrounding technologies like 3D printing and artificial intelligence has many start-ups hoping to capitalise on this dream of creating personalised products at an affordable price, and well-established companies scrambling to innovate and maintain their market share. However, the majority of them are failing as they struggle to understand one key question – where does customization make sense? Customization and personalisation only make sense where the value of the perceived benefit outweighs the cost to implement it. In other words, will people pay for it? Looking at the Kano Model makes it clear that it depends on the product. In products where customization is an inherent need, like prosthetics, mass customization technologies can be highly beneficial. However, for products that already sell as a standard, like headphones, offering customization is likely only an added bonus, and so the product development team must figure out if the customers’ perception of the added value of this feature will outweigh its premium price tag. This can be done through the use of a ‘serious game,’ whereby potential customers are given a limited budget to collaboratively buy and bid on potential features of the product, before it is developed. If the group choose to buy customization over other features, then the product development team should implement it into their design. If not, the team should prioritize the features on which the customers have spent their budget. The level of customization purchased can also be translated to an appropriate production method. For example, the most expensive type of customization would likely be free-form design and could be achieved through digital fabrication, while a lower level could be achieved through short batch production. Twenty-eight teams of final year students from design, engineering, construction and technology tested this methodology when bringing a product from concept through to production plan and found that it allowed them to confidently decide what level of customization, if any, would be worth offering for their product, and what would be the best method of producing it. They also found that the discussion and negotiations between players during the game led to invaluable insights, and almost all teams said they would use the methodology in future product development projects, especially those from non-design backgrounds.