Innovation Management Processes and Routines for Business Success and Value Creation

Innovation is managed through the development of processes and routines, considered as critical for business success and value creation. The identification of relevant routines as well as the understanding of which factors affect business innovation is the main objective of this research, based on a survey applied in Portuguese companies and their experience shared in best practices guides. Conclusions highlighted 10 key innovation routines, reinforcing the idea that innovation must be supported through a systematic and sustained management process. Results also indicate that SMEs face greater difficulties in benefiting from the potential of innovation practices and collaboration may present opportunities to overcome their limited resources. Therefore, regardless of size, business activity, science and technology intensity or other factors influencing firms dynamic capabilities, innovation should be considered as a management imperative as it can influence not only the present but also the future of business success.

Impact of learning through credit and value creation on the efficiency of Japanese commercial banks

This study investigates the learning curve of commercial banks regarding the efficiency of credit and value creation.However,current empirical methods for accessing the learning curve in organizations are not suitable for use in financial institutions.Considering bank-specific characteristics,we introduce a dynamic learning curve using a cost function adjusted to capture learning-by-doing in banks.Using the model,we test several hypotheses on the impact of bank intermediary experience(learning)on the efficiency of credit and value creation in Japanese commercial banks.The findings show that bank intermediary learning significantly improves the cost efficiency gain in the gross value created,total credit created,and investment.However,bank intermediary experience has no significant effect on the efficiency of the economic value created for all the banks analyzed.These findings have practical implications for evaluating cost dynamics in bank credit and value creation,risk management,lending to the real sector,and shareholder value creation.

Italian Banking Sector and Value Creation

The finn value is the fundamental topic of corporate finance. The value creation is the aim of economic initiatives, strategies, corporate policies, and all business activities, including banking. It depends, among other things, on size, legal form, and business model. Therefore, this paper wants to demonstrate and explain the differences about the value created in the Italian banking sector, where there is much diversity regarding size, legal form, and business model. This paper estimated and compared the value of Italian listed companies from 2010 to 2012 and found the result： Banks create more value if they are big and operate in investment banking. Furthermore, it proved that legal form hasn＇t influenced performance and value of banks.

The Relevance of Relationships in the Value Creation Process： Analysis of SCM in the Chemical-Pharmaceutical Sector

This work, through an empirical research （Jayaram, Kannan and Tan model）, aims at analysing, at the same time, the effect of ＂structural mechanisms＂ and ＂relationships building＂ factors on the value creation process in the Supply Chain. The two factors have been chosen among others, as they have been considered able to improve the internal and external processes of the firm and the Supply Chain, and in consequence, able to influence the value creation process of the Supply Chain Management. The research has been directed to the chemical and pharmaceutical sector of the Southern Lazio （Italy） and a factorial analysis, using the software SPSS （16.0） which has been performed in order to verify the influence of these factors in value creation process of the Supply Chain The outcomes confirm the positive contribute in the value creation process for companies that take care of the relationships among the stakeholders in the management process of the supply chain （the ＂relationships building＂ factor） and, in parallel with the analysis of the same process, the secondary role of the ＂structural mechanisms＂ factor has been highlighted.

Value Creation for the After-Sales Services： Organizational and Strategic Perspectives

As a part of the product development process, the after-sales services are not only a source of innovation, but also they benefit from value creation through new managerial methodologies for the achievement of competitive advantage and customer satisfaction. The objective of the paper is to further understand value creation for the after-sales services. We present the case of the creation of a new business for the after-sales services for the entrance into a new market. The new business is created by two gurus in the aerospace industry. A typology of guidelines is derived, based on organizational and strategic perspectives, for the after-sales services value creation and the guidelines for the creation of a new business as well as for the entrance of into a new market are presented.

Audit Committee, Value Creation Efficiency and Capital Employed Efficiency

This study contributes a number of innovative and interesting empirical findings with a view of four audit committee characteristics to predict overall value creation efficiency and capital employed efficiency using value added intellectual coefficient （VAICTM） method. Using purposive sampling, 34 property, real estate, and building construction firms listed on Indonesia Stock Exchange in 2011 were selected. Empirical findings could not provide a significant relationship between audit committee characteristics and the overall value creation efficiency as well as capital employed efficiency. This implies that currently, the number of members, number of meetings, number of independent commissioners, and accounting or finance expertise in audit committee cannot be expected as drivers of business value creation in Indonesian context, more specifically for property, real estate, and building construction industry. The overall lack of significant relationships may potentially result from limited human capacity, lack of financial expertise, and inadequate knowledge about the role of audit committee to add value to the business.

A New Approach for Measuring Shareholder Value Creation

This paper introduces a new approach for measuring shareholder value creation （called adjusted economic profit （EP）） which combines the advantages of both EP and APV （adjusted present value） methods. In particular, the shareholder value creation over a period is derived as the sum of two components： the EP relating purely to the operations of the company and the EP generated each period due to the tax benefit that arises from debt financing. We consider our results to be important for analysts and decision makers involved in appraising business performance or making investment decisions and HR professionals as well.

Intellectual capital and value creation in the production and assembly of vehicles and auto-parts sector in Brazil： A panel data analysis

This work investigates the relationship between intellectual capital and value creation in the sector of production and assembly of vehicles and auto-parts in Brazil. Through the access of the database from the annual industrial research conducted by the Brazilian Institute of Geography and Statistics, we gathered 865 observations, from 2000 to 2006, of public and private Brazilian companies with more than 100 employees. The database allows the estimate of relevant aggregated variables such as national accounts, gross domestic product, intermediate consumption, as well as propitiates a sectorial study of business strategies and performance, including value added by individual companies. In particular, in this study we use data on variables associated to intellectual capital. To achieve the goal of the study, we consider intellectual capital as defined by Pulic （2000, 2002）, including human capital and structural capital. For the analysis of business performance, we used Pulic＇s VAIC （Value Added Intellectual Cofficient） index as a measure of efficiency of the employed financial and intellectual capital. Regression models were run to verify the relationship among the efficiency in the use of intellectual capital and the profitability of Brazilian companies. The gross income, calculated as before selling, general and administrative expenses, depreciation expenses, amortization and interest expenses, was used as measure of the flows of value creation and the profitability was measured by the gross income to the total assets of the companies. Considering the constructs defined by Pulic （2000, 2002）, we tested, for the Brazilian sector of Production and Assembly of Vehicles and Auto-parts, the following hypotheses： （l） there is a positive relationship between value creation and intellectual capital, （2） there is a positive relationship between value creation and stock of intellectual capital, （3） there is a positive relationship between value creation and efficiency of the employed capital, （4） there is a positive relationship between value creation and efficiency of the human capital, （5） there is a positive relationship between value creation and efficiency of the structural capital. The results of the study, obtained through panel data analysis and through the use static and dynamic models, support the hypotheses that the intellectual capital of the companies, in its flow and stock dimensions, is positively and significantly related to value creation.

Value Creation of Business Process Management （BPM） and Managerial Accounting System （MAS）： A Case Study

This paper explores the value creation of business process management （BPM） and managerial accounting system （MAS） using a case study. The findings show that BPM shortens the management chain and increases the connections among functions in the organization by right reassignment. Accounting indicators in MAS provide necessary information about business processes, which assists performance evaluation in BPM, and meanwhile, incentive schemes give enough motives, which guide employees to take actions in accordance with the organizational strategies and processes＇ goals. The information effect and motive effect of MAS increase employees＇ work satisfaction and their cooperation with each other. In the end, the integration of BPM and MAS improves the organizational economic performance, thus creating value for the organization. The results explain the reason why so much BPM fails in practice, because right assignment, performance evaluation system, and incentive schemes constitute organizational architecture, which is critical to organizational value. Additionally, the value creation of BPM and MAS depends on their coordination with the external environment, the internal situation, and the organizational strategy. From the view of managerial accounting perspective, MAS not only changes with the organization development but also facilitates the organization development.

Cybersecurity and Blockchain Impacts on Value Creation Process:Empirical Evidences From Non-financial Disclosure

As per the current trend,the digital transformation and the elements and technologies associated with it are growing for the better defense of the company itself.As the IR reports are getting common among many in the recent years,this research would be useful to identify the fairness of the company disclosures.For this purpose,this research has adopted a methodology of content analysis focusing on the telecommunication industries that are situated in the different parts of the globe to extract the depth of disclosures made by the sampled industries in the years 2020 and 2021 focusing only on the DT dimensions namely cybersecurity and blockchain.

Talent Value Creation during Digital Transformation:A Inductive Model of HR Reengineering

In this study,we are to explore(1)features of HR reengineering,(2)the impact of business digitalization strategies on digital transformation and HR engineering,(3)the impact of business digitalization strategies and HR reengineering on talent value creation,and present the results of a qualitative study that offers insight into 42“thought units”,which were“categorizing”into four dimensions corresponding to our research questions:(1)plan,(2)do,(3)check,and(4)action.The“check”dimension corresponds to the four key features of HR reengineering related to business digitalization strategy,and how to create talent value when a company successfully implements business-led digital transformation,HR reengineering,and talent value creation,including(1)talent planning,(2)talent introduction,(3)talent adjustment,and(4)talent development.

COMPLEXITY OF VALUE CREATION IN SUSTAINABLE BUILDING DESIGN(SBD)

Value creation is a significant part of the sustainable building process.To understand the process of value creation,this paper identifies a number of important issues.First,the paper addresses the existence of and identifies reasons for com-plexity in the process of value creation over a whole lifecycle(WLC).Then,a conceptual framework model is developed and adapted to the WLC in order to monitor building process stages and intervals.Next,the concepts and strategies lead-ing to WLC value maximization are addressed.Finally,a conceptual WLC value creation model is proposed that is based on sustainable building process stages and building asset stakeholders’benefits.The paper indicates how value cre-ated is an accumulation of values acquired through various operations over the building WLC.

Service outsourcing strategy decision for value creation in manufacturing firms

This study aims to resolve the difficult problem of manufacturers’service outsourcing strategy decision-making,with services divided into two types:hygienic and motivational.We build a value creation model for the manufacturer,service contractor,and customer under different outsourcing strategies,and we examine optimal outsourcing decision-making in various scenarios and its effect on the value creation of related entities.The results indicate that motivational services have a lower bound characterized by service utility.When the manufacturer derives services higher than this lower bound,it should operate its own motivational service and outsource the hygienic service to create greater value.When the manufacturer is limited by resources or capabilities and is required to outsource the motivational service,it can maintain value creation by setting an appropriate contract coefficient.The service contractor should undertake motivational services within the contract boundary negotiated by the manufacturer and conduct hygienic services outside the boundary.Theoretically,outsourcing both service types can maximize customer value,but this may not achieve the manufacturers’optimal value creation.

Enhancing Enterprise Efficiency through Cross-Domain Supply Chain Linkage Management

In recent years,with the complexity and variability of international finance,debt,and geopolitical risks,the growth rate of domestic economic operations has slowed down.More enterprise groups are facing the transformation and upgrading from domestic leadership to internationalization,achieving revenue growth of nearly 10 billion yuan per year against the trend.The severe and complex internal and external environment has brought many challenges to the supply chain for enterprises.This article focuses on the goal of an“enterprise supply chain system focusing on value creation,strengthening system linkage,and improving overall chain efficiency,”aiming to find solutions to problems such as strong demand variability,frequent emergency needs,coexistence of project shortages and inventory surplus,long material turnover cycles,and high organizational complexity.By searching for key activities in the entire business chain of demand,design,production,service,and finance,implementing source planning,process control,system linkage,analysis and summary,and team collaboration,we have achieved more scientific demand forecasting,more accurate planning,more effective procurement cost reduction,more stable production performance supply,more convenient inventory sharing services,and more efficient integration of business and financial policies.

Model of Value Based Innovation

The paper presents to managers＇ and scholars＇ reasons for using models to determine the strategic importance of innovation and its potential value creation. The model of value based innovation （VBI） provides a clear definition of the adequate value curve to be pursued in any innovation action, from strategic definition to operational product conceptualization and production. The VBI model has been applied in strategic planning in over 100 SMEs throughout Portugal and USA by the authors and other consultant companies. The VBI model provides the practitioners and scholars with a pragmatic tool to determine innovation＇s value creation. Connecting this information with strategic thinking and planning will reduce risk and avoid failure. The theoretical model when converted into a technological application provides an immediate insight into the most adequate strategic innovation to be chosen by top management and operational product developers. The paper demonstrates the relation between innovation and value creation.

Environment management,Baosteel's choice,practice and consideration

From the view of the domestic and international energy,environment and operation situation,the paper analyses the confronted problems of iron and steel industry,answers why baosteel has been fulfilling environment operation strategy,and proceed to the introduction of its environment management practice and future outlooks.The environment management is essentially a green value creation,which emerges the environmental protection into the whole business enterprise operates process in order to create its value.The environment management is a kind of management creation,is a kind of active environment management, which promotes the main sense of energy conservation and emission mitigation.

The Role of Institutional Investors in the Evolutionary Dynamics of Agro-food Enterprises

The research topic is the one of public finance company whose core business is focused to support investment projects to overcome enterprises technological and structural gap. The research question is： If and how a public finance company is able to create and favor value creation processes sustainability for agro-food enterprises, highlighting the positive emerging externalities for different categories of stakeholders. They have results with particular evidences allow comparisons between the private investments and the support of institutional public investors. In such perspective, the mode of disbursement of soft loans and investment operations made by a public financing company will be examined. The methodological approach used, following a deductive-inductive perspective, is based on the ease study. Such technique able to formulate theories about a little known phenomena in their context, allows the study of recent events on which the researcher has little control. To this, a qualitative analysis on both primary and secondary data adds. From data analysis, it resulted that the Institute of Agribusiness Development （ISA） initiatives facilitated, just for example, the technological innovation of production department and consequent production capacity, the acquisition of production assets for row material processing and optimization of internal logistics, through an innovative automated warehouse. As a result, the case study finds sustainability at multiple levels reached by the activities promoted by ISA and the subsequent co-creation of value for stakeholders involved, small agro-food businesses innovation, and/or internationalization processes. As long as practical implications are concerned, such highlight the importance and the need for public and private institutions in their effort to continue to invest in projects to support the economy of the country. The originality of the paper lies in the proposed interpretation of more integrative paradigms （viable system approach, sustainability, and, value creation）, analyzing a financial institution for the development of the Italian food industry. At the same time, authors stress the research limit that is the analysis of the input of only one organization and consequent limited data in quantity and time span.

The Corporate Social Responsibility in the Italian Agri-Food Sector

The considerable social, economic, legislative and political changes that have marked the agri-food sector over time have brought about new needs related to the ethical-social and environmental field. These requirements have imposed on organizations operating in the sector a change in their organizational and management models. In this context, CSR （corporate social responsibility） has assumed great importance in the context of the new managerial logic of agri-food companies, outlining a management model based on balancing the interests of all stakeholders, thanks to integration of traditional economic objectives with others environmental and social. This paper aims to examine, in the first part, the path that has characterized the enlargement of the corporate vision and the related responsibilities, towards aspects related to the ethical, social and environmental dimension, in the Italian agri-food sector. Subsequently, the current approach to CSR was outlined through a review of the main tools implemented. This is in order to evaluate the opportunities that may derive from a strategic orientation aimed at building the sustainability of organizations in its triple dimension： economic, environmental and social. Finally, the main critical elements that hinder the dissemination of CSR tools in agri-food organizations have been outlined.

The social as the heart of social innovation and social entrepreneurship:An emerging area or an old crossroads?

This paper aims to contribute to the conceptual debate on the connection between social innovation and social entrepreneurship,considering the role of the‘social’within this connection.Supported by a systematic literature review(SLR)with an in-depth analysis of 34 articles from Scopus-indexed and Web of Science databases journals,this paper identifies,analyzes and describes the difficulties and opportunities in the social innovation and social entrepreneurship literature.Little is known about the link between both concepts and the influence of the‘social’in their development and implementation.This SLR was conducted to identify and describe definitions and patterns.Results show that the connection between social innovation and social entrepreneurship is in its take-off phase,but it still is a fragmented field with a huge lack of consensus.Thus,it will be important to see where the field will head,as this paper aims to be a first step in the understanding of social innovation and social entrepreneurship through a collective and integrated perspective,providing an elucidation of the different perspectives of the literature.