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COVID-19 als Impuls für ein effektiveres Risikomanagement
No full textDie COVID-19-Pandemie stellt Unternehmen vor neue Herausforderungen. Besonders im Risikomanagement liegt es nahe zu fragen, ob dieses Pandemie- "Szenario" für Unternehmen vorherzusehen war und wie man als Unternehmen auf einen derart großen Anstieg der Unsicherheit vorbereitet sein bzw reagieren kann. Die Relevanz dieser Fragstellungen gab uns den Anlass gemeinsam mit dem Controller Institut, eine Studie zu den Risikomanagement-Ansätzen im Sommer 2020 durchzuführen. Insgesamt nahmen 142 österreichische Groß- und Mittelstandsunternehmen teil. Unsere Resultate zeigen, dass sich die Integration von Risikomanagement und strategischer Planung sowie der Einsatz von Advanced-Analytics-Verfahren im Risikomanagement positiv auf die wahrgenommene Risikomanagement-Effektivität auswirken. Damit verbunden ist, dass eine hohe Verflechtung zwischen Risikomanagement und strategischer Planung mit einem stärker ausgeprägten Risikobewusstsein der Mitarbeiter und einer höher entwickelten Fähigkeit, sich an Veränderungen im Unternehmensumfeld anzupassen, einhergeht. Die teilnehmenden Unternehmen erkennen auch, dass es notwendig ist, zukünftig auf neuartige Risiken wie COVID-19 mit Notfall- und Kontingenzplänen besser vorbereitet zu sein
Catastrophe bond backed EU emergency healthcare fund proposed
No full textA new study has called for the creation of an Emergency Health Financing Facility (EHFF) for the European Union (EU) healthcare sector, with the securitization of health emergency risks in the form of catastrophe bonds seen as a viable funding solution. The research study, undertaken and published by Professor David Veredas, Professor Simon Ashby and doctoral researcher Dimitrios Kolokas of Vlerick Business School, proposes the need for financial structures to support European Union health care
Single digital gateway - The next big step in e-government. The state of e-government & single digital gateway implementation in Belgium
No full textE-government is an important priority of the European Commission. A 2016 study, commissioned by the European Commission to evaluate the progress of e-government implementation in the EU, found that, in the recent past, members of the EU had, on average, made significant progress in e-government implementation. However, there was large variation in this progress, with some EU members making headway towards advanced stages of e-government implementation, and other countries still struggling to move past the initial stages. To address this disparate progress and advance e-government implementation more uniformly, the EC introduced a number of initiatives, including the Single Digital Gateway (SDG) regulation, which came into force in 2018. The SDG aims to ensure that EU citizens moving to another EU state, and EU-based businesses aiming to conduct business across state boundaries, can easily access online information regarding administrative procedures in their host country. This SDG objective had to be implemented by the end of 2020. By the end of 2023, citizens and businesses moving across state borders also need to be able to perform a number of procedures online and should have access to assistance services related to these procedures. In light of this background, this white paper by doctoral researcher Hamza Aurangzeb provides an overview of the current state of e-government and SDG implementation in Belgium. Specifically, this paper aims to highlight major challenges that are hindering e-government and SDG implementation as seen by government representatives. Identification of these challenges could aid policymakers and public service strategists in addressing them, thereby removing barriers that are hindering the advancement of e-government and ensuring the optimal and timely implementation of SDG within Belgium. The paper is the result of research conducted by Vlerick Business School in the scope of a broader R&D project titled FAST (referring to the goal of FAST-tracking e-government deployment). The FAST project was commissioned under the imec.icon research programme. This project was co-funded by imec with project support from Agentschap Innoveren & Ondernemen
Strategizing in a digital world: Overcoming cognitive barriers, reconfiguring routines and introducing new organizational forms
No full textAs digital technologies such as cloud and edge computing, machine learning, advanced artificial intelligence (AI), and the internet of things (IoT) unfold, traditional industries such as telecoms, media, entertainment, and financial services are being reconfigured and new sectors are emerging. In this new competitive landscape we observe new organizational forms and new business models, including the emergence of platforms and multi-sided markets. This emergence has required a strategic response from incumbent firms, including both well-established firms and some first-generation digital enterprises. With these advances in digital technology, the very nature of strategy is changing. Fundamentally, the use of digital technologies may provide new opportunities for efficiency gains, customer intimacy, and innovation. However, without the right mindset for change, appropriate digital routines, and structural changes, digital transformation efforts will fail. We therefore present a framework for strategizing in this new digital competitive landscape that underscores the importance of the interplay between (1) the cognitive barriers faced by managers when trying to understand this new digital world and envision new digital business models, (2) a need to reconfigure and extend digital routines, and (3) new organizational forms that are better equipped to creating value and gaining competitive advantage. From this framework of essential pillars, we derive four journeys of digital transformation for companies that were formed in the pre-digital economy. We also describe the management roles required by top, middle, and frontline managers, depending on whether the digital migration is evolutionary or transformative and whether the firm is responding to or attempting to shape the ecosystem. Although digital transformation is technically all about technology, the more important issue is how companies make their way through this strange new digital world in which they find themselves. Ultimately digital transformation is as much about strategizing as it is about technology.(Engineering and Physical Sciences Research Council
Cost Accounting
No full textCost accounting vormt een geheel met Management accounting en geeft de lezer inkijk in het brede domein van management accounting. In Cost accounting leert u hoe u: kosteninformatie verzamelt; die informatie zinvol toewijst aan mogelijke kostobjecten; de winstgevendheid van producten, diensten, klanten, markten en distributiekanalen evalueert. Het boek gaat dieper in op onder andere kostenbegrippen, kostprijscomponenten, break-evenanalyse, process costing, activity based costing, standaardkostencalculatie en variabele kostprijsberekening. Breid uw kennis op een praktische manier uit door: links met analytisch boekhouden (waar aangewezen); opgeloste oefeningen voor zelfstudie na elk hoofdstuk; naar moeilijkheidsgraad gerangschikte oefeningenreeks per hoofdstuk
Redesigning organizations to increase agility: How can firms reconfigure their organization models to compete in a dynamic post-Covid world
No full textThe conceptual foundations of well-being in the service ecosystem
No full textThere is an increasing recognition of the impact of well-being on multiple stakeholders in the society. This stresses the need to further explore this seminal field of science(Carrington, Zwick, & Neville, 2016; Kilbourne, Dorsch, & Thyroff, 2018; Mittelstaedt, Shultz, Kilbourne, & Peterson, 2014).Thus, in order to formulate a ‘common ground’ for pursuing theory and practice, we have to consider the different perspectives of all stakeholders in the service ecosystem; well-being can then be realized as a value in a co-creative manner (Domegan, Collins, Stead, McHugh, & Hughes, 2013; Guo, Arnould, Gruen, & Tang, 2013; Gurrieri, Previte, & Brace-Govan, 2013). Traditional service marketing approaches neglect the common trade-offs between the longterm well-being of consumers and their short-term wants. Services need to transcend in the delivery of the former aspect – creating well-being – and this, more efficiently and effectively than competitors. This will be the competitive advantage of the future, which the literature agrees on (Kotler, Roberto, & Lee, 2002; Lee & Sirgy, 2004; Sirgy & Lee, 2008). Thus, there is a necessity to further understand service strategies that enhance the co-creation and improvement of well-being. Well-being is a very broad church with lots of different flavours and shades(Burroughs & Rindfleisch, 2002; Kilbourne et al., 2018; Nolan & Varey, 2014). As a result, we lack a holistic understanding of the concept and how it may relate to different stakeholders in the service ecosystem. This creates a gap in knowledge that hinders the improvement of the highly important field. Developing a holistic view requires a better understanding of the concept by piecing together the scattered literature. Given the complexity of the topic, we embark on a systematic review of the existing literature in order to formulate the lacking definition of wellbeing in the service ecosystem. Using multiple techniques (solo coding, inter-coder reliability test, Delphi panel test and grounded theory), we analyze and synthesize the multi-disciplinary literature on well-being. We identify and update the existing conceptualizations of the dimensions of well-being, while identifying the various stakeholders interacting within different environment in the service ecosystem. We map these stakeholders and environments against the dimensions of well-being, which – in conjunction – formulate the definition of overall wellbeing that is applicable in a multi-stakeholders in the service ecosystem. We, furthermore, take a considerable step towards fully understanding the mechanisms of well-being co-creation by exploring the interactions of stakeholders and the interrelations among the well-being dimensions. The study offers a broad spectrum of implications for practitioners as well as an agenda for future research directions
Financing intangibles: Is there a market failure?
Get PDFIt is well established that growth companies positively and disproportionately impact employment creation and economic growth (European Commission, 2016a; OECD, 2019a). At the same time, these companies are confronted with significant challenges, including access to finance (OECD, 2019b). Numerous initiatives have been taken by regional and national authorities and by the European Union to alleviate growth companies’ expected funding gaps
Resilience in the face of uncertainty: early lessons from the COVID-19 pandemic
No full textThe transboundary dynamics of COVID-19 present an unprecedented test of organisational resilience. In the UK, the National Health Service (NHS), a talisman of collective fortitude against disease and illness, has struggled to cope with inadequate provision of virus tests, ventilators, and personal protective equipment needed to fight the pandemic. In this paper, we reflect on the historic dynamics and strategic priorities that have undermined the NHS’s attempts to navigate these troubled times. We invoke the organisational resilience literature to address ‘the good, the bad and the ugly’ of preparedness in readiness and response to the current pandemic. In particular, we draw on Meyer’s (1982) seminal work on ‘adaptation to jolts’, excavating current preparedness failings. We argue an overreliance on perceived efficiency benefits of ‘lean production’ and ‘just in time’ continuity planning superseded strategic redundancy and slack in the system. This strategic focus was not simply the result of a failure in foresight, but rather a failure to act adaptively on knowledge of the known threats and weaknesses spotlighted by earlier projections of an inevitable pandemic threat. In conclusion, we consider how the UK Government and NHS must now undergo a phase of ‘readjustment’ in Meyer’s terms, in light of these failings. We suggest that independent responsibility for national future preparedness should be handed to the NHS free from political interference. This would operate under the umbrella of a national emergency preparedness, resilience and response public body, enshrined in law, and similar in governance to the current Bank of England. This will help ensure that foresight is accompanied by durability and fortitude in safeguarding the UK against future pandemic threats
Nonlinear financial econometrics JoE special issue introduction
No full textThis special issue is based upon the conference in honour of Professor Luc Bauwens, held in Brussels on October 2017. The conference was sponsored by UCLouvain and the theme was nonlinear financial econometrics. The generality of the theme reflects precisely the broad research scope of Luc Bauwens. During his career, he has contributed to various areas of time series econometrics, always with applications in economics and finance in mind, and, although being a Bayesian econometrician, he developed both Bayesian and frequentist inference