Blockchain and other distributed ledger technologies have enormous potential for creating business value but have not yet been widely adopted. Enterprise blockchain systems are recognized as solutions to existing operational problems or âpain pointsâ but their potential for delivering value through strategic opportunities is not well understood. Drawing from literature on strategic alliances and the resource-based view of the firm, we identify avenues through which blockchain systems can contribute to a firmâs strategic capabilities and, as a result, to its sustained competitive advantage. We provide a framework for understanding how participation in blockchain solutions can enable companies to build upon existing strategic capabilities, strengthen collaborative capabilities and develop blockchain-specific capabilities. The framework can be useful to firms and service providers for incorporating strategic outcomes into the evaluation of blockchain investment opportunities.
Sohee Kim, Sejun Yoon, Nagarajan Raghavan, Nguyen-Truong Le · 5 authors
The blockchain is a technology with high growth potential that increases social benefits by streamlining procedures, reducing costs, and innovating the way we work. Considering the growth potential of blockchain technologies, countries around the world are attempting to graft into various fields such as finance, logistics, and healthcare, and actively promoting technology development. Tracing and analyzing the developmental trajectories of blockchain technology can give great insight for R&D direction and strategies. We developed an improved knowledge persistence-based main path approach to identify technological trajectories of the blockchain technology. In addition, future technological directions for each sub-technology under blockchain technology were identified by the knowledge unconventionality metric. The results show that the blockchain technology can be divided into five sub-technologies, and each sub-technology has evolved with high technological interactions among other sub-technologies. Based on the last knowledge streams of the main paths, this paper suggests potential future directions for each sub-technology in the blockchain technology.
his article examines the risks and opportunities associated with distributed ledgers technologies. A novel methodology is developed and presented in order to diagnose and manage their impacts using a strategic risk management perspective. Possible responses to the identified challenges are suggested.
Jan 1, 2017·Proceedings of the ... Annual Hawaii International Conference on System Sciences/Proceedings of the Annual Hawaii International Conference on System Sciences
Gianluca Miscione, Rafael Ziolkowski, Liudmila Zavolokina, Gerhard Schwabe
The blockchain technology offers a novel mode of distributed authentication, which does not depend on a central authority. We consider this novelty against established governance modes. We illustrate our argument by paying special attention to blockchain-based authentication functions in the empirical domain of land registries across the world. Based on interviews with representatives from organizations deploying blockchain, and con-tent analysis of related grey literature, we discuss established governance idealtypes against what the rivalry that cryptocurrencies and blockchains bring to digital settings. After referring to market, hierarchy, network, and bazaar, we conclude outlining the prospects of a different, blockchain-related governance mode called -Ëtribalâ that better captures the -Ëtogethernessâ which rivalry originates.
Which is more innovative: the decentralized, diversified firm, or the centralized, more narrowly focused firm? The economics and finance literatures argue that diversified firms have innovation advantages as their operating units have access to an internal capital market. In contrast, the strategy and entrepreneurship literatures argue that managers of these firms suffer from âmanagerial myopia,â discouraging them from investing in projects with longâterm, uncertain payoffs. We take a fresh look at the relationship between innovation and diversification using a comprehensive sample of diversified and nondiversified firms and a novel approach that teases out the mechanisms influencing the relationship between diversification and innovation. Consistent with conceptual and empirical work in strategy, we find a robust negative correlation between diversification and R&D intensity, suggesting that diversification reduces innovation by discouraging investment. However, our analysis suggests that internal capital market inefficiencies, rather than managerial myopia, is responsible for this observed negative relationship.
Regional form of Organization of the health care that are called today DyPE, have as a main \ngoal to promote more rational resource allocation through decentralization in the decision \nmaking process. The concern for more effective and efficient use of resources devoted into \nthe health care sector renders hospitals a critical vehicle of the quest for superior economic \nperformance, especially if we take into our consideration their mounting over time deficits. \nEconomic performance is primarily traced through a set of specific financial ratios, which \nembrace important elements that constitute the substance of the financial well-being of \nhospitals as economic units. An array of financial ratios is critically reviewed and a \ncombination of them is proposed as a means of effective financial management. The later is \nnecessary to ameliorate the funding strain imposed on the health care system and especially \non hospitals. The financial performance is determined by the return on capital (profitability) \nin connection with the risk involved. Both factors determine the value created, which in turn \naffects the amount of financing attracted in the sector. The financial information available \nto the supervising regional bodies (DyPE), donât considered sufficient for their management \nto assess financial management of hospitals effectively. The lack of the appropriate economic \ndata is due to the fact that double entry accounting has not yet fully adopted by the economic \nunits that report to the corresponding DyPE. So, double entry accounting is prerequisite for \nreporting and monitoring acceptable financial performance. The later is vital in securing \nthat the financial needs of the health sector that are growing at an ever accelerating pace, \nare met.
The competitive position of companies is increasingly linked to their capacity to attract and retain competent personnel. Human resources management, in particular compensation, is a crucial component of this quest for competencies. Yet companies must choose between several types of compensation policies. They must determine on which basis to select a policy so as to maximize the effectiveness of the compensation system. These choices may be linked to external strategies of the company, e.g. diversification, differentiation, or internal strategies such as autonomous work teams, total quality and participative management. This article therefore attempts to analyze the extent to which external and internal strategies identified by companies dictate their choice of compensation policies. In other words, do companies that adopt particular external and internal strategies also opt for differentiated compensation policies?The data were collected by a questionnaire mailed to vice-presidents and human resources managers of Quebec companies in competitive sectors. We received 252 usable questionnaires, equal to an 11.4% response rate. The variables have been grouped into four main categories: compensation policies, external strategies, internal strategies and control variables. By means of a multiple regression analysis using the forced entry method we have tested the contribution of each category of variables, thus allowing for verification of the hypotheses formulated. The control variables were entered first in a single block, followed by the external strategies and internal strategies. Utility tests were performed to verify whether the order of entry of the variables influenced the results obtained.The principal findings suggest that internal strategies dictate the choice of compensation policy to a much greater extent than do external strategies. In effect, companies seek above all to create internal coherence among their HR policies and organizational development strategies. For example, companies that rely heavily on autonomous work teams, engage in more participative management and promote quality management have compensation systems that are less traditional and characterized by a greater emphasis on performance, transparency of information provided to employees and, to a lesser extent, leader pay policies and decentralization of decision-making, which is consistent with the literature. Regarding the impact of external strategies, our results are more mitigated. Only competitive strategies emanating from business units exert a slight influence on the choice of compensation policies. Moreover, corporate strategies such as degree of diversification do not affect the choice of compensation policies. This type of strategy is apparently too far removed from the concerns of HR managers. Lastly, of the control variables examined, unionization plays the most determining role in the choice of compensation policies. In fact, this variable is the most consequential in our analytical model. This result raises important questions about the importance of the strategic approach to human resources management and reinforces the relevance of exploring institutional approaches to compensation policies.