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Machine learning to predict the net promotor score and improve patient experience
No full textNet Promotor Score (NPS) is a simple yet prominent indicator for customer satisfaction that is widely used in organizations. An in-depth analysis of the NPS and its drivers can provide organizations with highly valuable insights into their current deficiencies and strengths. CFO’s, for example, can use this metric to develop a strategy map. This case study explores the use of machine learning to perform an NPS key driver analysis at IndyCare, an Indian hospital group. The aim is to develop a model that predicts whether patients are promotors, detractors or passive customers for the hospital, and to assess feature importance of the models. The participants will also learn how to address a specific problem encountered when using NPS status as a target variable. In particular, the difference in scaling between the features and the target variable causes a low statistical fit of the various models. This problem is addressed by adding an additional feature to the model which considers subgroups of patients with common scoring patterns. Next to the analysis on the level of the hospital group, the participants will also go more into detail in this case study. More specifically, they will examine whether different patient groups have other drivers for their NPS. For this purpose, the participants will also explore unsupervised learning by making use of clustering techniques
Patient Preferences to Assess Value IN Gene Therapies: Protocol Development for the PAVING Study in Hemophilia
No full textIntroduction: Gene therapies are innovative therapies that are increasingly being developed. However, health technology assessment (HTA) and payer decision making on these therapies is impeded by uncertainties, especially regarding long-term outcomes. Through measuring patient preferences regarding gene therapies, the importance of unique elements that go beyond health gain can be quantified and inform value assessments. We designed a study, namely the Patient preferences to Assess Value IN Gene therapies (PAVING) study, that can inform HTA and payers by investigating trade-offs that adult Belgian hemophilia A and B patients are willing to make when asked to choose between a standard of care and gene therapy. Methods and Analysis: An eight-step approach was taken to establish the protocol for this study: (1) stated preference method selection, (2) initial attributes identification, (3) stakeholder (HTA and payer) needs identification, (4) patient relevant attributes and information needs identification, (5) level identification and choice task construction, (6) educational tool design, (7) survey integration, and (8) piloting and pretesting. In the end, a threshold technique survey was designed using the attributes "Annual bleeding rate," "Chance to stop prophylaxis," "Time that side effects have been studied," and "Quality of Life." Ethics and Dissemination: The Medical Ethics Committee of UZ KU Leuven/Research approved the study. Results from the study will be presented to stakeholders and patients at conferences and in peer-reviewed journals. We hope that results from the PAVING study can inform decision makers on the acceptability of uncertainties and the value of gene therapies to patients
The impact of ceo future focus and long-term incentives on strategic flexibility: Towards person-pay congruence
No full textStrategic flexibility enables organisations to adapt to changing circumstances in a proactive or reactive manner. Although several studies show that it increases company performance, more research on the drivers and barriers to strategic flexibility is needed. In response to that call, we focus on the CEO who plays a crucial role in shaping and implementing the strategy of the organisation. One line of research established in the strategic flexibility literature studies CEO cognition to explain how CEOs differ in the extent to which they build strategically flexible organisations. Accordingly, we put forward CEO future focus as a relevant antecedent of strategic flexibility. However, we argue that this personal trait should be studied in tandem with CEO compensation, as it is their combination that determines the CEO’s strategic choices. The main objective of this paper is to understand how person-pay congruence can be obtained in the best interest of strategic flexibility by integrating CEO compensation and the upper echelons perspective. We argue that a stronger CEO future focus and high long-term incentives both increase strategic flexibility. This analysis will enable us to answer the question on what matters most: person or pay? Second, we investigate whether the person-pay interactions between CEO future focus and long-term incentives are synergistic, additive or buffering in nature. We will test our hypotheses with a panel dataset of the 600 largest listed European firms for the period 2014-2019
How employees are proactive in strategic behaviors
No full textIn today’s world of work, employees do not just let change happen to them, instead, they proactively shape their work, as well as their organization and its fit with the environment. Research shows that proactivity may be beneficial to the individual, the team and the organization. However, despite the importance of proactivity in today’s organizations, research has predominantly focused on employees’ proactivity in shaping their internal work environment, by for example exploring how employees can expand the boundaries of their own roles. When confronted with an unpredictable and rapidly changing external environment, however, employees also need to proactively detect and shape opportunities in their external environment. In this doctoral research proposal, we therefore shift focus from internally to externally oriented proactivity, i.e., proactive strategic behavior, to (1) conceptualize the construct of proactive strategic behavior; and (2) develop the nomological network of the concept of proactive strategic behaviors by testing the antecedents and the consequences of proactive strategic behavior
Project recovery: Project failures and how to get rid of them
No full textSince the 1960s, project success has been receiving much interest from both academics and practitioners. Despite these efforts, project failure is still a recurring and prevalent phenomenon. In both peer-reviewed and non-peer-reviewed project management literature, a great deal of studies generates lists of success factors and failure causes. Few studies, however,investigate concrete recovery strategies to bring failing projects back on track. The present article, therefore, draws upon the literature on critical success factors and project recovery frameworks to construct an eight-step action plan that helps in recovering from project failure. The recovery action plan was awarded the University Contest by PMI Belgium in 2019
An analytical model for budget allocation in risk prevention and risk protection
No full textRisk is inherent and inevitable during project execution. Its occurrence often has an adverse impact on the project or even leads to project failure. In order to ensure the successful project completion, risk prevention used for reducing the risk probability and risk protection used for reducing the risk loss should be considered. Given the different effects and costs of these two strategies and the limited project budget, project managers should be able to reasonably divide the budget among these two strategies. This study proposes a budget allocation method consisting of three modules for mitigating the project risks. First, we model the relation between the effect and cost of each strategy as linear and non-linear relations. Second, two mathematical models are built and the corresponding analytical solutions are obtained. Afterwards, a three-step procedure for budget allocation is proposed. To validate the analytical results and investigate the impacts of the characteristics of the project risk and response on the optimal budget allocation, numerical experiments are conducted and managerial insights are drawn. Finally, the budget allocation model is extended with multiple risks, secondary risk and risk transfer, and validated using an empirical analysis
The Impact of the COVID-19 Crisis on Growth-Oriented SMEs: Building Entrepreneurial Resilience
No full textThis study explores how the COVID-19 pandemic has forced Flemish growth-oriented entrepreneurs to build entrepreneurial resilience. We rely on a research framework that consists of a “challenge-reaction-learning loop” to empirically investigate how entrepreneurial resilience is built in times of the COVID-19 crisis. To investigate this complex entrepreneurial learning process, we use data that have been collected during the first and second wave of the COVID-19 pandemic. By using several datapoints, we could identify (1) the specific challenges growth-oriented firms are facing as a result of the COVID-19 crisis; (2) how these entrepreneurs reacted to these challenges; and (3) what they learned during the first and second wave of the pandemic and how they perceive the future. By making this entrepreneurial learning process explicit and dividing it into an iterative “challenge-reaction-learning loop”, this study is relevant for all entrepreneurs, as it contains several interesting lessons learned. We also contribute to academic literature as we provide future researchers a tangible framework to further elucidate how entrepreneurial resilience is built in times of crisis
The five keys to strategic flexibility - Five capabilities to thrive through turbulence
No full textCompanies in many industries must deal with turbulent environments in which speed, disruptiveness, and the unpredictability of change threaten long-standing business models and recipes for success. And as the world digests the longer-term effects of the recent pandemic, we need to prepare for a new normal that will continue to be turbulent. That means learning to minimise the threats of turbulence, while shaping and grasping opportunities to derive new sources of competitive advantage. For many organisations, such strategic flexibility is not an easy endeavour. Strategic flexibility requires striking a balance between not changing enough – the well-known inertia trap – and changing too much, with the risk of losing focus or alienating the organisation in the process. As Professor of Strategy and Director of our Strategy in Action Platform, Carine Peeters has been conducting research on companies’ adaptive capabilities since 2008. Based on data on over 400 organisations across industries and geographies, our research shows that adaptive organisations achieve this balance thanks to a system of five key capabilities that they proactively build and nurture. They are not only aware of evolutions in their external environment but also understand the implications of these evolutions. They experiment with alternative courses of action and are not afraid to partner inside and outside to co-create solutions. They innovate at the same time as they exploit their core business; and they can decide and act in a timely manner. In this white paper, we share the findings of this research by taking you through the five adaptive capabilities, explaining what they are and discussing how organisations can foster them
Academy of Management Annual Meeting Proceedings
No full textProponents of board gender quotas argue that such policies ought to generate trickle-down effects in the form of higher female executive appointments within organizations because of female directors’ motivation and ability to correct firm level gender imbalances. In this study, we argue and show that such normative arguments may not be reflective of social realities of historically male dominated corporate boards. Grounding our theoretical ideas in the attention based view, we argue that such policies increase appointments of female directors because of the mandated shift in firm level attention towards the issue. However, given the controversial nature of such policies and gender differences in status and power, such policies may have unintended consequences of negative trickle-down effects where firms reduce appointment of women in senior executive positions. Analysis on a sample of 185 largest, publicly listed firms in India during 2008-2017 find support for our theory
How (Not) to Test Theory With Data: Illustrations From Walasek, Mullett, and Stewart (2020)
No full textAndré and de Langhe (2021) pointed out that Walasek and Stewart (2015) estimated loss aversion on different lotteries in different conditions. Because of this flaw in the experimental design, their results should not be taken as evidence that loss aversion can disappear and reverse, or that decision by sampling is the origin of loss aversion. In their response to André and de Langhe (2021); Walasek et al. (2021) defend the link between decision by sampling and loss aversion. We take their response as an opportunity to emphasize three guiding principles when testing theory with data: (a) Look for data that are uniquely predicted by the theory, (b) Do not ignore data that contradict the theory, and (c) If an experiment is flawed, fix it. In light of these principles, we do not believe that Walasek et al. (2021) provide new insights about the origin and stability of loss aversion. (PsycInfo Database Record (c) 2022 APA, all rights reserved)