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Legacy companies are firms that rely on stable business models, established internal processes, and familiar technologies. Existing research acknowledges that legacy companies need to explore new technologies, but scholars largely neglect to analyze how this process unfolds. This knowledge gap is particularly relevant when disruptive technological paradigms are about to modify the business arena, as in the case of the metaverse. This article presents an inductive qualitative approach to understanding why and how legacy companies explore the metaverse. The metaverse exploration process is purpose-driven and largely incremental. Capabilities co-specialization facilitates the use of complementary resources for new purposes, subsequently determining the path toward different strategic fit configurations. [ABSTRACT FROM AUTHOR]

Although the liability of foreignness has been shown to present real economic barriers for foreign firms in various contexts around the globe, scholars continue to debate what drives this liability in different market contexts: lack of information due to institutional distance, lack of social embeddedness, discrimination, or something else. In this study, we propose a new theory, that in corporate lobbying within the nonmarket strategy context, the liability of foreignness is driven in no small part by a values-based ideological conflict stemming from the divide between democracy and autocracy. Private-sector firms from autocratic countries face costs of illegitimacy in Washington, D.C., and professional corporate lobbyists charge such firms a fee premium, in effect, to pay for legitimacy. We conduct an empirical study of the lobbying fees charged by professional corporate lobbyists in Washington, D.C., to their domestic and foreign firm clients, and the results strongly support the predictions of our theory. We also show that the liability of foreignness in this context endures for foreign firms from autocratic countries over the 15-year length of our sample period. Offering a new theoretical perspective as well as new empirical findings regarding the liability of foreignness, our study has practical implications for managers of foreign firms and may also generalize to other market contexts. [ABSTRACT FROM AUTHOR]

Startup accelerators, which aim to improve the set of choices representing a startup's entry strategy, have become increasingly influential in both regional development and the strategies of individual startups. This article explores an accelerator's impact on startup performance and whether that impact varies substantially by features of the startup's founding environment. Leveraging data from a leading startup accelerator, I use a regression discontinuity framework to hold startup quality constant so that I can compare the performance of admitted startups to those that do not make the cut, and I examine whether any observed performance differentials are driven by accelerator admission and by characteristics of the startup's earlier environment. I find evidence that startups from better pre-accelerator environments experience stronger gains from accelerator admission. I also find evidence of home bias, as local startups have a stronger treatment effect. These results provide evidence of ecosystem effects whereby the impact of one organizational sponsor in an ecosystem is strongly moderated by other features in the ecosystem. The findings help to explain the concentration of accelerator programs in already successful entrepreneurial ecosystems and reveal how such programs may interact with founding environments to complement resource abundance or magnify prior resource inequalities. [ABSTRACT FROM AUTHOR]

The book "Corporate Sustainability: Managing Responsible Business in a Globalised World" is a compilation of master classes on the topic of corporate sustainability. The chapters in the book are written by experts in the field and cover a range of topics, including stakeholder theory, sustainability business models, and sustainability standardization. The book is accessible and covers both the essentials and advanced developments in corporate sustainability. However, the book could benefit from including more perspectives from the Southern hemisphere and indigenous voices to further decolonize the business school. Overall, the book is a valuable resource for advanced Master of Arts students and offers an authoritative and easily digestible introduction to corporate sustainability. [Extracted from the article]

Guiding an entrepreneur through the business plan is not the set and structured process planners would like. However, by assessing their client's motivations, providing basic guidelines, talking clients through common errors, and being cognizant of their own role in the process, planners can add value to their entrepreneurial clients as they navigate their business planning journey. [ABSTRACT FROM AUTHOR]

In recent years, the emerging Digital Twin (DT) paradigm under Industry 4.0 has been attracting more attention from both practitioners and academia due to its dynamic capabilities. Most DT studies are theoretical and deal with hypothetical analysis, whereas fewer studies are available on real-life empirical cases. Due to dynamic problem-solving capabilities, DT technologies are widely used in performance improvement analysis in food processing companies (FPC) despite limited implication's for business strategies. Our study incorporates the DT technologies with an implementation case study on FPC and accomplishes the real-life problem of the food processing company (FPC). Moreover, the proposed DT research framework demonstrates the various DT implementation stages, such as strategic mapping and physical-virtual space replica, with rigorous analysis. The results show that DT enhances the existing system's machine availability, allocation efficiency, technical efficiency, worker efficiency, utilization rate, effectiveness, step ratio, and throughput rate. The proposed physical-virtual interface model is executed using AnyLogic software with JAVA-enabled programming. [ABSTRACT FROM AUTHOR]

This article investigates the relationship between the share of assets held by institutional investors relative to GDP and a synthetic index of union bargaining power in 20 OECD countries from 1980 to 2017. Findings from the use of fixed-effects OLS and instrumental variables regressions show that the share of assets held by institutional investors, especially insurance companies and pension funds, is correlated with a decline in union bargaining power. The authors argue that by contributing to significant changes in corporate strategies and governance through potential effects on jobs and wages, institutional investors in most OECD countries may have weakened the influence of trade unions, thereby leading to a higher decentralization of wage bargaining. Mixed evidence is found, however, when investigating the role of complementarity across institutions to explain cross-country heterogeneity. [ABSTRACT FROM AUTHOR]

Why would some firms persist with continued operations when facing unfavorable economic conditions? Although prior studies have investigated the roles of uncertainty and sunk costs as sources of inertia, an unacknowledged type of sunk cost associated with temporary suspensions of operations is related to the erosion of existing capabilities. Building on the resource-based view and real options theory, we argue that resource idling contributes to capability erosion and that the anticipated capability loss motivates firms to refrain from idling their resources under demand uncertainty in the first place. The negative effects of uncertainty on resource idling are likely to be particularly strong for firms with superior capabilities and for those having a greater reliance on human capital. Using data on oil drilling contractors in Texas, the empirical evidence lends support to our theoretical arguments. Our insights suggest that resource idling shapes the development path of capabilities and risks jeopardizing firms' competitive advantages. The seemingly operational decision of temporarily idling resources can therefore be quite strategic for a firm, and "hysteresis," or inertia in continuing operations, can preserve firms' capabilities. [ABSTRACT FROM AUTHOR]

Digitisation is among the macro-trends that significantly influence the business world in the twenty-first century. Firms striving to succeed in this environment must develop new strategic approaches. The accelerating development of information technology (IT) drives digitisation. Therefore, IT and business strategies must be integrated. In this context, the information systems literature promotes the concept of digital business strategies (DBSs), reflecting a fusion between IT and business strategies. However, knowledge of the types and characteristics of such DBSs is currently scarce. Therefore, we developed a conceptually and empirically grounded typology of DBS based on the well-known business strategy classification by Miles and Snow (1978). Using a dataset comprising 192 firms worldwide, we conducted a cluster analysis, identified basic types of DBS, and evaluated their effects on firm performance. Moreover, we identified four types of DBS: non-digital reactor, analyser, digital opportunist, and digital producer. The study contributes to a better understanding of new business strategy concepts in the digitisation context. [ABSTRACT FROM AUTHOR]

In the complex field of evaluating leadership styles, the integration and aggregation of data has become crucial. This article delves into the use of OWA-TOPSIS, a hybrid methodology that combines the Ordered Weighted Averages (OWA) Operator and the Method for Ordering Preferences by Similarity with the Ideal Solution (TOPSIS), to achieve an accurate and holistic assessment of leadership executive. By unifying diverse data and aggregating information from multiple sources, you achieve a more complete and nuanced view of management capabilities and styles. This approach not only improves the objectivity of the analysis, but also provides a powerful tool for decision-making in complex corporate environments, where leadership skills are critical to organizational success. The OWA-TOPSIS methodology stands out for its ability to handle ambiguous and subjective information, transforming it into a quantifiable and easily interpretable result. By applying this method, you can discern more clearly which leadership styles are most effective in different contexts and specific situations. Furthermore, the flexibility of this technique allows it to be adapted to various industries and sectors, making OWA-TOPSIS a versatile solution for leadership analysis. The research detailed in this article offers an innovative and insightful perspective on how to optimize management evaluation, thereby providing essential guidance for improving organizational effectiveness through informed leadership strategically aligned with corporate objectives. [ABSTRACT FROM AUTHOR]

Online hotel reviews on platforms like TripAdvisor are crucial in shaping customer choices and steering business strategies in the hospitality sector. However, the effectiveness of these platforms is partially hindered by the self-selection bias found in voluntary reviews. This bias can create false expectations and unsatisfactory experiences, mainly as the feedback generally comes from a non-representative group of self-motivated reviewers (SMRs). A common strategy to mitigate this bias is increasing the number of reviews through customer surveys, generating retailer-prompted reviews (RPRs). However, these RPRs, despite reducing selection bias, tend to lack the depth and insight of SMRs, resulting in a credibility gap and reduced representativeness. To address this, our study presents a novel approach using the propensity score adjustment (PSA) technique. This method leverages the distribution of RPRs to refine the accuracy of text data from SMRs, aiming to enhance the reliability and representativeness of online reviews. By combining the strengths of both RPRs and SMRs, we aim to create an online review environment that is both accurate and reliable. In conclusion, this research marks an important step toward improving online review platforms, aiming for a more transparent and trustworthy environment for reviews. [ABSTRACT FROM AUTHOR]

Social media are gaining significance in organizations and their business strategies. Therefore, the self-presentation of solo entrepreneurs on social media requires a strategic analysis and concept due to their specific business structure. Solo entrepreneurs work on their own without having any employees in their company. In other words, they stay as the personification of a one-(wo)man-firm. The business structure of solo entrepreneurs is particular since they operate in the most decentralized form of a firm, which is a one-person firm. In some way, solo entrepreneurs can be regarded as independent (self-employed) laborers. When presenting themselves online, they must decide which characteristics of the private self should be emphasized and which should be incorporated into the entrepreneurial identity to be useful to the business. Our qualitative study conducted twelve semi-structured interviews with solo entrepreneurs to understand how they present themselves on social media and how the solo entrepreneur offered online differs from the private self. We have found that there are features of the personal self that are kept strictly out of the entrepreneurial sphere, but there are areas that make a mix of personal and entrepreneurial selves. Our results help to understand the group of solo entrepreneurs and their unique characteristics in an increasingly important field of digital media. [ABSTRACT FROM AUTHOR]

This study explores orientations in the study of sustainability strategy in agribusinesses using quantitative and qualitative research methods. The quantitative aspect involved a bibliometric analysis of scientific publications in the Scopus and Web of Science databases on publications in the area of business and management, while the qualitative approach involved a systematic analysis to determine strategic orientations. The research methodology used was the Constructivist and Knowledge Development Process (Proknow-C), which includes four stages: (1) portfolio selection, (2) bibliometric analysis of the portfolio using bibliometric software, (3) systematic analysis and (4) identification of future research. The results revealed four strategic directions for sustainability: Corporate Social Responsibility, Standards and Traceability, Innovation and Environmental Performance, and Governance and Food Safety. In addition, two areas for future research were identified: corporate sustainability policies and management practices. Although there is a considerable amount of literature on sustainability, research in agribusiness is still in its infancy and there is a need to deepen the interactions between the economic, environmental and social dimensions in order to promote business strategies in agribusiness that foster sustainable development. [ABSTRACT FROM AUTHOR]

This article discusses the importance of preparing graduate nursing students to address environmental health issues and lead nursing green teams. It emphasizes the need to integrate environmental health concepts into nursing school curricula and highlights the role of nurses in addressing climate change and pollution in healthcare settings. The article provides information on the impact of health services on climate change and the formation of nursing green teams to implement sustainability initiatives. It also discusses opportunities and solutions for greening healthcare workplaces, waste management, chemical use, and improving environmental sustainability in healthcare settings. The document includes a list of references and sources for further research on the topic. [Extracted from the article]

Recently, reservoir computing (RC) has emerged as one of the most effective algorithms to model and forecast volatile and chaotic time series. In this paper, we aim to contribute to the understanding of the uncertainty associated with the predictions made by RC models and to propose a methodology to generate RC prediction intervals. As an illustration, we analyze the error distribution for the RC model when predicting the price time series of several agri-commodities. Results show that the error distributions are best modeled using a Normal Inverse Gaussian (NIG). In fact, NIG outperforms the Gaussian distribution, as the latter tends to overestimate the width of the confidence intervals. Hence, we propose a methodology where, in the first step, the RC generates a forecast for the time series and, in the second step, the confidence intervals are generated by combining the prediction and the fitted NIG distribution of the RC forecasting errors. Thus, by providing confidence intervals rather than single-point estimates, our approach offers a more comprehensive understanding of forecast uncertainty, enabling better risk assessment and more informed decision-making in business planning based on forecasted prices. [ABSTRACT FROM AUTHOR]

This article examines the activities of two major British mining companies, Consolidated Gold Fields and Rio Tinto, in Australia from the 1950s to the 1990s. Both companies faced challenges as foreign companies operating in Australia and made changes to their corporate structures. Consolidated Gold Fields acquired shareholdings in other mining companies, while Rio Tinto expanded through mergers and acquisitions. The article discusses the growth and evolution of these companies and the factors that contributed to their differences. It also mentions the merger of RGC and Westralian Sands, as well as RGC's holding in Goldfields Limited, which eventually became owned by Barrick Gold. [Extracted from the article]

The Fashion and Textile Museum in London recently held an exhibition called "The Biba Story, 1964–1975," which explored the impact of the iconic London boutique, Biba. The exhibition showcased the Art Deco-inspired style of Biba, with its gold and black logo, curvy framed cut-outs, and dusty purple wall color. Visitors to the exhibition shared personal connections and memories of Biba, making it a nostalgic experience. The exhibition traced the history of Biba, from its beginnings as a direct-to-consumer mail-order business to its brick-and-mortar stores and eventual closure due to financial difficulties. The exhibition featured clothing, textiles, makeup, and even food products associated with the Biba brand. It highlighted the accessibility and affordability of Biba's fashion, as well as its influence on the London fashion scene and its association with famous musicians, actors, and models. The exhibition successfully captured the ephemeral nature of Biba and celebrated its lasting impact on fashion and lifestyle brands. [Extracted from the article]

Competitor identification (CI) is an essential step in establishing an effective competitive business strategy. For complex business environments, network-based CI methods have been studied in the literature, aiming to shed light on the blind spots in managers' radars. Typically, CI is based on networks without temporal information, despite the dynamic changes in business environments. Alternatively, the temporal information is considered in CI by simply accumulating the intensities of synchronous interfirm competition evaluated over time. As a result, competitors' actions in the past are overlooked in evaluations of interfirm competition, although such actions remain in managers' memories. In this study, we propose a new method for CI incorporating memories of the past transactions of competitors in a dynamic network. The proposed method measures the interfirm competition between firms based on their resource similarity and market commonality in a dynamic financial transaction network. The proposed method facilitates capturing the asynchronous competition from suppliers and demanders taken by competitors. We evaluate the proposed method on a toy network and on a case of interfirm transactions in Korea from 2011 to 2014. The results show that the temporal information in dynamic networks and memory about past transactions improves the predictive accuracy in CI with the proposed method. [ABSTRACT FROM AUTHOR]

This document discusses the challenges and opportunities of entering a medical toxicology fellowship from a non-traditional residency background. The author, a psychiatry resident, chose to pursue medical toxicology fellowship due to the overlap in patient populations managed by psychiatrists and medical toxicologists. The document provides recommendations for non-traditional applicants, including the importance of developing a network, finding a mentor, and attending toxicology conferences. It also discusses the risks and opportunities of entering the field, such as the potential for innovation and the need to balance clinical interests. The document emphasizes the need for non-traditional applicants to be aware of the effort required to enter the field from outside of emergency medicine. [Extracted from the article]

The study of patent value plays a significant role in technology planning and business strategy. However, the relations between patent value indicators and the performance of high-tech enterprises have not been fully explored in the literature, especially from the perspective of configuration thinking. To fill this gap, this study examines how various patent value indicators combine to affect the performance of high-tech enterprises. After considering the strategic, technological and protective dimensions of patenting, we conduct a comparative configurational analysis of high-tech start-ups and mature firms through a fuzzy-set qualitative comparative analysis (fsQCA) method. Result shows different pathways of high-tech start-ups and mature firms to obtain competitive advantage through patents, in which strategy-oriented patents lead to start-ups’ growth, whereas protection-oriented patents contribute to mature firms’ high performance. Further, we find five solutions of patent values through which high-tech start-ups can achieve high performance, yet only one for high-tech mature firms. This finding indicates that start-ups have more choices to promote firm performance by enhancing patent value. On the basis of this approach, we shed light on high-tech enterprises’ patent strategy formulating and technology planning. [ABSTRACT FROM AUTHOR]