1,720,993 research outputs found
THE SELF-DIRECTED INDIVIDUAL INVESTOR AND ONTINE INVESTING PLATFORM DECISION SUPPORT
No full textEmpirical research on retail investors has attempted to explain online investor subpar perfor mance by inferior decision-making and behavioural biases. The previous findings on human reasoning have mostly been based on quantitative transaction and investing account data. The purpose of this study was to explore investor priorities and reasoning to improve investing processes co-created by investors and online investing platform service providers. The findings are based on direct access to investors through qualitative interviews and participative analyses of live online investing platforms. A modified design science approach was applied to evaluate the development initiatives identified.
While investors remain exposed to behavioural biases, bias mitigation methods have been dis covered to develop during the investor life-cycle - reducing the explanatory power of traditional biases. A new biased behaviour named tangibility bias has been suggested. This bias makes investors compromise portfolios for improved contrai and transparency.
An investor's portfolio management activities may be limited by bounded rationality, but the individual also lives in a reality bounded by practical restrictions, non-financial objectives and beliefs. This contextual rationality may involve hedonic objectives and the investor may ques tion the validity of investing tenets like portfolio asset allocation. As a result of bounded and contextual rationality, experienced investors may have an inclination for underdiversified port folios with a strong focus on individual investment positions. lnvesting is a multiple-year, man aged undertaking, and focusing only on human shortcomings in momentary decision-making fails to recognise the importance of the overall investing process managed over multiple years.
The use of decision support provided by online investing platforms was limited. The main prac tical role of the platforms was execution of already incubated decisions and monitoring of in vestment performance. The reasons given for not adopting portfolio-level decision support were: incompatibility with investors' investing approach, usability issues and lack of transpar ency. More trivial reasons included absence of portfolio management functionality or investor disinterest in implementing normative investing tenets and asset allocation. ln empirical litera ture, potential reasons have been discovered for the negative impact of online investing. lnves tors found information overflow complicating the decision-making. Short-term position data was conspicuous at the cost of long-term portfolio performance feedback. A proportion of investors felt a push to deviate from their rather passive investing agenda.
Potential for improved investor-platform interaction was evaluated using an ex-ante focused design science approach. The analyses and evaluations showed that investors can be nudged to adopt planning and portfolio level functions if the user experience is positive, the investor is not required to change the investing process and perceived complicity is not increased. Not only the investing style, but persona! motivation and engagement play a role in the adoption of new platform decision support. lnvestors are a heterogeneous group of users and modularisation of investing services is suggested to match the diversity in investor needs and priorities. Even though automated investing did not attract this self-directed investor sample, a proportion of investor participants expressed interest in interactive artificial intelligence based analytics, advice and suggestions
FOUR ESSAYS ON THE ROLE OF HUMAN JUDGMENT IN DECISION-MAKING IN ORGANISATIONS, FOCUSING ON BUILDING AND SELECTING DEMAND FORECASTS, AND SELECTING SUSTAINABLE PARTNERS IN COLLABORATIVE NETWORKS.
No full textIn view of the ever-changing organisational environment, it is essential to better understand the role that judgment plays in decision-making so that the organisation can function efficiently. The focus of this presentation is on the role of human judgment in strategic, tactical, and operational decision-making inside organisations, as well as in diverse functional domains, specifically demand forecasting and strategic partner selection. Integrating human judgment in structured decision-making processes allows information that may not be captured elsewhere to be considered and its impact is investigated
PERSPECTIVES ON THE PROSUMER ROLE IN THE SUSTAINABLE ENERGY SYSTEM
No full textClimate change and the ever-growing demand for energy are pushing us to find new ways to manage energy production, distribution, and consumption. This energy transition is enabled, for example, by the digitalization, decentralization, and democratization of the energy system. The energy system is already transitioning from fossil-fuel and large power-plant–based generation toward a flexible system based on renewable energy sources. Traditional transmission grids are being replaced by smart grids enabled by digitalization that facilitate bi-directional flows of information and energy. At the consumption end, smart energy meters, energy monitoring devices and applications, and renewable energy technologies such as solar photovoltaic and battery storages empower energy consumers to evolve into prosumers: the producers and consumers of energy. These prosumers, also referred to as active consumers and energy citizens, are envisioned to play an important role in the sustainable energy system in the future.
While the energy prosumer role has gained more research attention during the past few years, plenty of gaps in completely understanding energy prosumerism still remain. This research focuses on studying the prosumer role in the sustainable energy system. I study the enablers and activities of energy prosumers and explore how the growing number of prosumers may influence the socio-technical energy transition.
The research presents two main perspectives on prosumerism; it explores both the micro and macro-level influences on the energy prosumers. The main research fields of this study are sustainability transitions, innovation studies, and policy. Based on theory and literature review, a novel research framework synthesizing the theoretical concepts and earlier research related to prosumers is introduced.
From the methodology viewpoint, a pragmatic research approach and mixed methods are used to explore the enablers for prosumerism as well as prosumer activities and their impact on the ongoing energy transition.
The research results are displayed in the form of six articles published in international peer-reviewed journals and conferences. The first two articles make propositions about the prosumer role as part of the changing socio-technical energy and innovation system. The next two articles focus on understanding the micro-level impact on the energy prosumers and examine the producer–consumer, in particular, as a co-developer of energy-related innovations. The remaining two articles address the impact of macro-level policies on prosumers.
Overall, this research contributes to the understanding of the energy prosumer role in the future sustainable energy system. Theoretical contributions are related to the novel research framework that combines the concepts from the socio-technical multi-level perspective, innovation studies, and policy research as well as offers a more pragmatic framework for inquiry in the context of the changing energy system to observe the prosumer role therein. A specific theoretical contribution is made to the technology acceptance model that is tested in the context of external policy influence. Furthermore, the research contributes to innovation studies and especially to the field of user-centric innovations by bringing new results for understanding the factors behind end users’ collaboration interests. Practical contributions of the study are related to the understanding of the micro-foundations of prosumer interests toward innovation co-creation activities. Practitioners benefit from evidence concerning the differences between consumers and prosumers, which may help them in designing products and services for these different categories. This improved understanding is necessary, for example, to accelerate the diffusion of renewable energy technologies that is crucial for the sustainability transition. Policy- makers may benefit from the findings related to the policy analysis that combines and compares different prosumer activities with policy mixes and calls for a more holistic and systemic approach for the development of the prosumer related policies. While prosumer research has increased during the past decade, many future research avenues for the topic exist. For example, more research on prosumer role as part of the sustainability transition can help in designing better policies as well as products and services for consumers and prosumers. Moreover, systemic activities, such as those related to the integration of electric vehicle smart charging into the power system combined with other prosumer activities, offer opportunities for researchers. Furthermore, research concerning novel prosumer-centric business models, for instance related to energy communities, is needed to accelerate the diffusion of sustainable technology solutions.
--
Ilmastomuutos ja kasvava energian kysyntä ajavat meidät etsimään uusia tapoja hallita energian tuotantoa, jakelua ja kulutusta. Energiajärjestelmä onkin jo siirtymässä fossiilisten polttoaineiden ja suurten voimalaitosten tuotannosta uusiutuviin energialähteisiin perustuvaan joustavaan järjestelmään. Sähköverkot on transformoitu digitalisoinnin mahdollistamana älykkäiksi Smart Grid -verkoiksi, jotka pystyvät siirtämään sekä energiaa että dataa molempiin suuntiin tuotannon ja kulutuksen välillä. Kulutuspäässä älykkäät energiamittarit, seurantalaitteet ja - sovellukset sekä uusiutuvien energialähteiden teknologiat, kuten aurinkosähkö ja akkuvarasto, antavat energiankuluttajille mahdollisuuden kehittyä prosumereiksi eli energian tuottaja-kuluttajiksi (engl. prosumer = producer-consumer). Prosumereilla, joihin viitataan myös nimillä ”aktiivinen kuluttaja” ja “energiakansalainen”, on tulevaisuudessa tärkeä rooli kestävässä energiajärjestelmässä.
Vaikka prosumerit ovat saaneet lisää huomiota tutkimuksessa viime vuosina, energia prosumerismin ymmärtämisessä on vielä paljon aukkoja. Tämä tutkimus keskittyy selvittämään prosumerien roolia osana kestävää energiajärjestelmää ja sen murrosta. Tutkin prosumereihin liittyviä mahdollistajia, prosumerien toimintaa osana energiajärjestelmää sekä vaikutuksia kestävän kehityksen energiamurrokseen.
Tutkimus on luonteeltaan monialainen, yhdistäen innovaatiotutkimusta, transitiotutkimusta ja myös jossain määrin politiikantutkimusta. Tässä pragmaattisessa tutkimuksessa käytetään sekä kvantitatiivisia että laadullisia tutkimusmetodeja. Tutkimuksen tulokset esitetään liitteenä olevien kuuden vertaisarvioidun konferenssi ja -journaaliartikkelin avulla. Ensimmäiset kaksi artikkelia esittävät propositioita prosumerin roolista osana muuttuvaa sosio-teknistä energia- ja innovaatiopelikenttää. Seuraavat kaksi artikkelia keskittyvät ymmärtämään mikrotason vaikutusta näihin toimijoihin ja tutkivat erityisesti energiaan liittyvien innovaatioiden yhteiskehittämistä. Lopuksi kaksi artikkelia käsittelevät makrotason politiikkatoimien vaikutusta prosumereihin.
Tutkimuksen pääkontribuutio on ymmärryksen lisääminen kuluttajan muuttuvasta roolista osana energiajärjestelmää. Teoriakontribuutiot kytkeytyvät uusiin tapoihin yhdistää keskeisiä teorioita kestävän kehityksen transitiotutkimuksesta, innovaatiotutkimuksesta sekä politiikan tutkimuksesta.
Käytännön elämään vaikuttavat kontribuutiot liittyvät empiirisiin tutkimustuloksiin esimerkiksi tavallisten kuluttajien ja prosumereiden eroista. Tietämyksen lisääminen auttaa teknologia- ja palveluyrityksiä suunnittelemaan tuotteita ja palveluita, jotka sopivat erilaisiin tarpeisiin, joka voi edelleen auttaa nopeuttamaan uusiutuvaan energiaan liittyvien innovaatioiden leviämistä ja siten edistää kestävää kehitystä.
Prosumer -tutkimuksessa on edelleen paljon tilaa uudelle tieteenharjoitukselle. Esimerkiksi energiayhteisöt ovat yleistymässä ja tutkimus niiden roolista osana energiajärjestelmää on vasta käynnistynyt. Tutkimalla energiayhteisöjä pystytään lisäämään ymmärrystä niiden vaikutuksesta esimerkiksi sähköverkkoon ja lainsäädäntöön. Toisaalta myös yksittäisten aktiviteettien ja ajureiden tutkimuksessa on vielä paljon mahdollisuuksia. Esimerkiksi systeemiset ja integroidut ratkaisut, kuten sähköautojen käyttäminen osana kysyntäjoustoa, tarjoavat hyviä tutkimusaiheita. Lisäksi erityisesti uudet liiketoimintamallit liittyen prosumereihin ja energiayhteisöihin kaipaavat selkeyttämistä ja kokeiluja sekä regulaation muunnoksia
Production flow analysis--Cases from manufacturing and service industry
No full textProduction flow analysis (PFA) is a well-established methodology used for transforming traditional functional layout into product-oriented layout. The method uses part routings to find natural clusters of workstations forming production cells able to complete parts and components swiftly with simplified material flow. Once implemented, the scheduling system is based on period batch control aiming to establish fixed planning, production and delivery cycles for the whole production unit. PFA is traditionally applied to job-shops with functional layouts, and after reorganization within groups lead times reduce, quality improves and motivation among personnel improves. Several papers have documented this, yet no research has studied its application to service operations management. This paper aims to show that PFA can well be applied not only to job-shop and assembly operations, but also to back-office and service processes with real cases. The cases clearly show that PFA reduces non-value adding operations, introduces flow by evening out bottlenecks and diminishes process variability, all of which contribute to efficient operations management.Production flow analysis Service industry Cellular production Functional layout Product layout Operations management
Tuotannonohjauksen hajauttaminen ja sopeuttaminen kappaletavaratuotannon tietojärjestelmiin
No full textData-based learning in product development
No full textIn an operational situation companies both deliver and develop products, with continuous demands for shorter cycle times. This increases the importance of learning. It is argued here that companies do not fully exploit their experience from previous projects. The same mistakes tend to occur from project to project. Yet it is shown with the help of empirical evidence, from five product development projects, that by introducing simple managerial principles which activate organisational learning, companies can improve their efficiency. It is also argued that modern and interactive communication tools provide a means for managing and acquiring a better understanding of physically dispersed product development and manufacturing operations. It is concluded that by establishing clear documentation protocols to track the evolution of the product during its life cycle and by exploiting the modern communication media to implement simple managerial principles, project management can master the dispersed multi-project environment of today's manufacturing companies better. At its best, organisational learning can be a continuous and self-feeding process catalysed by advanced on-line metrics visualising the product development process.Configuration management learning new-product development concurrent engineering project management computer-supported collaboration
The emergence of data sharing along complex supply chains
No full textPurpose
To improve supply chain performance, companies are now exploring new pathways including industry-wide data sharing initiatives along complex supply chains. The purpose of this paper is to stimulate research in this field by describing the benefits, obstacles and the governance required for supply chain data sharing initiatives.
Design/methodology/approach
Based on publicly available information complemented by interviews with practitioners, the authors describe how companies are establishing ambitious data sharing infrastructure and initiatives along their supply chains.
Findings
The authors describe how data sharing along supply chains is becoming increasingly important for many companies and how the automotive sector is working towards establishing a digital infrastructure for data sharing that could support a wide range of use cases. The article emphasises the importance of studying the governance of data ecosystems using new theoretical approaches. Finally, the authors suggest three areas for future research on data ecosystems, including their governance, the learning dynamics that will drive their adoption and their relationship with broader system-level changes.
Originality/value
This paper is the first, to the authors’ knowledge, that depicts how industry-wide data-sharing initiatives are expected to have an impact on supply chain performance. The authors highlight factors that affect the development and implementation of these initiatives along supply chains
- …
