Abstract

Global virtual teamwork has emerged as a cornerstone of collaborative teamwork in today’s work landscape, characterized by cross-border collaboration using digital technologies. Although research has started to investigate the mechanisms underlying effective teamwork through information and communication technologies (ICTs), an often-neglected dimension is the pivotal social context within which this collaboration unfolds. To address this research gap, this study adopts a social capital lens on teamwork in proposing social capital as a multidimensional mediator between the usage of ICTs and team effectiveness. The research model was tested using questionnaire data from 271 technologically sensitive and aware companies in the DACH region (Germany, Austria, Switzerland). The findings reveal that using multiple ICTs alone does not suffice for effective global virtual teamwork. Therefore, this study highlights the significance of social capital for the effectiveness of global virtual teamwork, which holds significant implications for theory and practice.

Introduction

Advances in information and communication technologies (ICTs), coupled with the increasing prevalence of globalization, have driven organizations to rely on digital technologies for globally distributed collaboration—so-called global virtual teamwork ( Tavoletti & Taras, 2023 ). Due to several benefits, such as time and cost savings, talent pooling, and increased team diversity, global virtual teams were already well established in today’s workplace before the COVID-19 pandemic ( Jimenez, Boehe, Taras, & Caprar, 2017 ; Kozlowski & Ilgen, 2006 ; Tavoletti & Taras, 2023 ). However, global virtual teamwork also presents significant challenges that can threaten team effectiveness. Reliance on ICTs reduces media richness and delays feedback, including an increased risk of miscommunication and misunderstanding ( Bilotta et al., 2021 ; Klitmøller & Lauring, 2013 ; Mangla, 2021 ).

Based on the premise that a single medium cannot support the two fundamental communication processes of conveyance (i.e., sharing new information) and convergence (i.e., reaching a common understanding), we introduce the concept of ICT usage, which refers to the frequent and strategic use of multiple ICTs ( Dennis, Fuller, & Valacich, 2008 ; Niinimäki, Piri, Lassenius, & Paasivaara, 2012 ). We propose that high levels of ICT usage will increase team effectiveness, which consists of performance, longevity, and satisfaction ( Dennis et al., 2008 ; Hackman, 1987 ).

Conclusion

The confluence of digitalization and globalization has had an enduring influence on utilizing virtual and global collaboration in the workplace. Due to their embeddedness in a social context, teams are a focal point of multiple levels, linking the individual team members and the organizational system holistically ( Kozlowski & Bell, 2013 ). This requires a profound comprehension of the social context, which can enhance the uptake of ICTs and the effectiveness of global virtual teamwork. To fill this research gap, we conceptualized social capital as a multidimensional mediator, encompassing structural, cognitive, and relational social capital ( Nahapiet & Ghoshal, 1998 ), between the adoption of ICTs and team effectiveness composed of performance, satisfaction, and longevity.

In summary, this study provides a solid foundation for integrating social capital in global virtual teamwork. The results of our study indicate that frequent use of multiple ICTs does not influence the effectiveness of global virtual teams. Instead, a significant positive relationship was found between ICT use and social capital. Regarding the individual dimensions of social capital, this relationship was only found for structural social capital. Similar results were obtained for the mediator hypotheses, with both total and structural social capital acting as strengthening mediators between ICT usage and team effectiveness. Conversely, cognitive and relational social capital did not show significant mediating effects. The present research context makes developing cognitive and relational social capital difficult, although their importance cannot be denied, as both social capital and its individual dimensions show a positive relationship with team effectiveness. Possible ways to build cognitive and relational social capital include allocating sufficient time for team interactions and creating shared physical spaces, such as face-to-face meetings, to balance them. Overall, our study provides insights into the extent to which the integration of social capital enhances team effectiveness in today’s digitized and globalized world.

Abstract

This research project developed a framework for assessing digital transformation (DT) maturity in large government-owned corporations (GOCs), focusing on integrating building information modelling (BIM), digital engineering (DE) practices, value of information, data integration aspects, and critical information management competencies, relating to asset management, asset delivery, and asset performance. Recognising DT’s strategic importance in asset lifecycle management, researchers created a practical DT maturity assessment tool applied to an Australian GOC. The framework and Excel assessment tool outline DT maturity across seven categories and 56 indicators, using the analytical hierarchy process (AHP) to rank indicators based on expert input. The tool enables straightforward data input and DT maturity evaluation, helping organisations understand their current DT status and set improvement targets. Workshops with DT professionals validated the tool’s effectiveness through a case study, offering insights into DT maturity levels and a roadmap for technological integration and data-driven decision-making. The research highlights DT’s role in enhancing efficiency, innovation, and safety, emphasising the need for strategic alignment with organisational objectives.

Introduction

The building and infrastructure industries are gradually transitioning towards building information modelling (BIM) as an object-based digital representation of an asset’s physical and functional characteristics [1], [2] and digital engineering (DE) practices to enable more productive methods of planning, designing, constructing, operating, and maintaining assets, using digital processes [3]. As detailed later in the paper, “digital” encompasses approaches, tools and technologies such as BIM and DE together with data science, the Internet of Things (IoT), and AI solutions integrated to digitise assets throughout the lifecycle. Asset owners recognise the importance of digital transformation (DT) in delivering and managing assets [4], as it offers many benefits throughout the asset lifecycle and can enhance efficiency, value for money, productivity, innovation, and safety.

1.1. DT of large infrastructure asset ownersGovernments and government-owned corporations (GOCs) are typically owners and operators of large assets, such as buildings, infrastructure, and other asset holdings across the spectrum of services. Governments and industries must transition from ‘digital by exception’ towards ‘digital by default’ [5], [6]. The infrastructure sector should adopt an evidence-based approach to infrastructure planning, delivery, and operations, including BIM, DE, embedded sensors, and digital asset management [7]. DT offers significant potential value and benefits to government agencies that manage assets across the whole-of-asset lifecycle. DT can assist in strategic investing and partnering with local governments and industry to deliver more benefits, including [8]:

Conclusion

The dynamic evolution of the building and infrastructure sectors towards digitalised practices underscores the growing importance of asset owners engaging in comprehensive DT. This research project has developed a multifaceted framework for assessing DT maturity tailored to the needs of large GOCs.

The existing assessment tools and methods have been reviewed for suitability in assessing the DT in whole-of-life asset owner organisations. The reviewed tools offer varying assessment scopes, including a capability assessment, maturity assessment, and benchmarking. The need and potential benefit of a new maturity assessment tool that would balance assessment accuracy and completion efficiency were established based on the shortcomings and limitations of existing DT maturity tools and methods. The key contributions of the new DT maturity assessment framework and tool developed by the research team include (i) a holistic view on the assessment of how well organisations use data and digital solutions, focusing on BIM capabilities, the value of information, data integration aspects, components of the smart city concept and critical information management competencies; (ii) an evidence-based scoring approach including assigning weight to various assessment indicators based on their importance to ensure the accuracy of the assessment; (iii) a multiperspective assessment allowing for more accurate organisation-wide analysis; (iv) short-term and long-term recommendations based on the current and target levels gap to facilitate performance improvement while realising the benefits and value of getting to each maturity level.

Abstract

Due to the industrial revolution and, thereby with, the emergence of Industry 4.0, there has been an impact on the marketing of business firms, enabling them to digitally transform and adopt Marketing 4.0 practices supported by smart technologies. One of these is Big Data Analytics (BDA), which enables a firm to improve its marketing practices. The main objective of this study is to evaluate how integrating big data technology improves the marketing strategies of Indian FMCG companies operating in a dynamic and highly competitive market distinguished by its size and diversity, constantly changing consumer behaviour, and Marketing 4.0 trends. This study adopts a systematic approach to coding an interview with seasoned Indian FMCG professionals to explain the capabilities of Big Data in molding marketing practices. A framework is constructed based on the same. The theoretical and practical implications are discussed to visualize its applicability in business. Further, the Resource-based View (RBV) theory is discussed for describing the insights into the role and adoption of Big Data by Indian FMCG firms for enhancing performance and achieving competitiveness, along with demonstrating its benefits for decision-making, customer loyalty and internal capability assessment.

Introduction

With technological advancements, industries now utilize innovative technologies that bolster a range of corporate activities and procedures, profoundly influencing the internal operations of these firms. (Cammarano et al., 2023, Singh et al., 2022b). The fourth industrial revolution, known as Industry 4.0, which is driving this technological change for business firms, serves as a bridge between intelligent products and adaptive processes and has a significant impact on both business models and production processes (Rosário & Dias, 2022; Salkin et al., 2018). Industry 4.0 enables the digital transformation of firms, which is further impacted by different internal and external factors related to the firm. The digital transformation is required to improve customer experiences and retain customers (Kitsios et al., 2021). Despite their implementation challenges and hazards, these advancements increase market analytics, cost, channel management, client connections, professional skills, and organizational procedures (Pascucci et al., 2023). With Industry 4.0, there is a steady trend towards understanding the consumers, which includes their needs, behaviours, storytelling, and anticipation (Lampropoulos, 2023; White & Pathak, 2023). These are the core components of marketing techniques that have evolved into marketing 4.0 (Yakut, 2022). As an outcome of the emergence of trends like Big Data (BD), social media, corporate social responsibility, and e-commerce, the shift to Marketing 4.0 is accelerating (Guven, 2020). Marketing 4.0 is driven by the convergence of offline and online marketing strategies and incorporates technical advancements to provide better flexibility (Rathod et al., 2020; Kotler et al., 2017). The improvement of the consumer experience, the induction of repurchase intention, and brand promotion are some of the significant achievements of Marketing 4.0 (Dash et al., 2023). Consumer usage patterns of social media, online platforms, search engines, contextual interactions, and community influences are some of the areas the companies are looking into. Companies use the information mainly for promotional and consumer engagement activities. The consumers are seen to be transformed into advocates through marketing 4.0, where a sense of community building takes place, resulting in a meaningful engagement of the marketers and consumers (Gau, 2019).

Conclusion

This study discusses and examines the role of BD and how an FMCG firm can adopt BD to improve its overall performance and attain a competitive position in the market. This research is the first of its kind to explore the implications of BD in the Indian FMCG sector. The relationship among BD, marketing practices and FMCG from in Indian perspective is a unique contribution to this paper. In addition to its usefulness, the study explores the crucial roles that automation and decision science play. This study discusses the benefits the firm achieves for accepting BD in the business. The study reveals some of how BD helps in decision-making for FMCG firms. For Indian FMCG firms, BD is crucial to value creation and achieving business operations’ scalability. FMCG organizations are using BD and analytics solutions more and more since they help create value, scale corporate operations, and increase output in today’s competitive market. BD makes it possible to analyze consumer preferences and behaviour at each transaction stage with a business. FMCG companies may now provide personalized experiences through targeted messaging, unique offers, and channel-specific communication optimization. BD also offers in-the-moment customer insights via sentiment, preference, and behaviour research, which aids FMCG companies in creating goods that enhance customer experiences and provide them with the necessary competitive edge.

Additionally, BD facilitates effective market campaigns through real-time predictions, data processing, and analysis. BD can also be strategically used through automation, new business model innovation, decision science, and risk management. Furthermore, customer segmentation based on BD makes marketing techniques more effective, and real-time customer insights, like sentiment analysis and tracking of consumer preferences and behavior, help organizations respond quickly to market changes.

Abstract

     This paper develops an ordonomic approach to the governance of sustainable business model innovation (SBMI). We clarify the distinctive roles of optimization and governance for the management of sustainable value networks and develop a sustainability cube as a new management tool for the governance of SBMI. Our cube helps management to identify and overcome social dilemmas within value networks, i.e. to form and reform relevant business relationships, thus creating and tapping second-order win-win-win potentials. Furthermore, our cube encourages management to interpret negative externality problems as “missing markets”, i.e. as an entrepreneurial challenge and as a business opportunity to serve as yet unmet needs. Finally, our cube offers an avenue to develop and strengthen the specific management competencies that foster a successful governance of SBMI.

Introduction

     After having promoted the sustainability concept of a “triple bottom line” (TBL) for 25 years, Elkington (2018) is rather disillusioned and (self-)critical of what, in effect, has become an accounting concept. Looking back, he clarifies his initial goal—and identifies what went wrong (para. 8, emphasis in original): “[T]he original idea was wider still, encouraging businesses to track and manage economic (not just financial), social, and environmental value added—or destroyed. … [T]he TBL wasn’t designed to be just an accounting tool. It was supposed to provoke deeper thinking about capitalism and its future, but many early adopters understood the concept as a balancing act, adopting a trade-off mentality.” He further elaborates (para. 13, emphasis in original): “TBL’s stated goal from the outset was system change—pushing toward the transformation of capitalism. … It was originally intended as a genetic code, a triple helix of change for tomorrow’s capitalism, with a focus … on breakthrough change, disruption, asymmetric growth (with unsustainable sectors actively sidelined), and the scaling of next-generation market solutions.” Looking ahead, he states (para. 16 f.): “[W]e need a new wave of TBL innovation and deployment. … Hence the need for a ‘recall.’ I hope that in another 25 years we can look back and point to this as the moment [we] started working toward a triple helix for value creation, a genetic code for tomorrow’s capitalism, spurring the regeneration of our economies, societies, and biosphere.”

Conclusion and outlook

     This paper develops an ordonomic approach to the governance of SBMI. We clarify the distinctive roles of optimization and governance for the management of sustainable value networks and develop a sustainability cube as a new management tool for the governance of SBMI. Our cube helps management to identify and overcome social dilemmas within value networks, i.e. to form and reform relevant business relationships, thus creating and tapping second-order win-win-win potentials. Furthermore, our cube encourages management to interpret negative externality problems as “missing markets”, i.e. as an entrepreneurial challenge and as a business opportunity to serve as yet unmet needs. Finally, our cube helps management to develop and strengthen the specific competencies that foster a successful governance of SBMI.

     As an outlook, we would like to emphasize several limitations of our contribution in this paper, which may stimulate further research.

     First, we deliberately skipped an important aspect. Since we wanted to concentrate on sustainability opportunities beyond the organizational boundaries of the firm, we edited out the ordonomic strategy of individual self-commitments. We therefore concentrate on perceiving the organization and its interior structures as a monolithic block. On the one hand, this assumption needs to be highlighted as a serious limitation of our tool, but on the other hand it provides a vital starting point for complementary further research on intra-organizational challenges such as culture, mind-set, etc. (see e.g., Evans et al., 2017; Geissdoerfer et al., 2018) and tensions’ management in SBMI (see e.g., Schultz, 2022a). Hence, managers using the cube must be constantly aware of this blind spot. Further research could explore the possible interplay between the three commitment strategies (external relations management) embodied in the cube and the one we left out (internal relations management). For the latter, we would like to hint to an initial ordonomic contribution along those lines cf. Will and Pies (2018).

Abstract

The advent of the Internet of Things (IoT) has accelerated the pace of economic development across all sectors. However, it has also brought significant challenges to traditional human resource management, revealing an increasing number of problems and making it unable to meet the needs of contemporary enterprise management. The IoT has brought numerous conveniences to human society, but it has also led to security issues in communication networks. To ensure the security of these networks, it is necessary to integrate data-driven technologies to address this issue. In response to the current state of human resource management, this paper proposes the application of IoT technology in enterprise human resource management and combines it with radial basis function neural networks to construct a model for predicting enterprise human resource needs. The model was also experimentally analyzed. The results show that under this algorithm, the average prediction accuracy for the number of employees over five years is 90.2 %, and the average prediction accuracy for sales revenue is 93.9 %. These data indicate that the prediction accuracy of the model under this study’s algorithm has significantly improved. This paper also conducted evaluation experiments on a wireless communication network security risk prediction model. The average prediction accuracy of four tests is 91.21 %, indicating that the model has high prediction accuracy. By introducing data-driven technology and IoT applications, this study provides new solutions for human resource management and communication network security, promoting technological innovation in the fields of traditional human resource management and information security management. The research not only improves the accuracy of the prediction models but also provides strong support for decision-making and risk management in related fields, demonstrating the great potential of big data and artificial intelligence technology in the future of enterprise management and security.

Introduction

At this stage, there are many problems in the traditional HRM, such as the complicated work of the HRM department, the weak teamwork of the enterprise, and the imperfect employee incentive mechanism, which restrict the overall development of the enterprise. In the new era, the traditional HRM simply cannot meet the new needs of enterprise management, so it needs to change this status quo in line with the development of the times. The arrival of the IoT era has connected the world as a whole, which not only provides many conveniences for human society, but also promotes the economic development of all walks of life. Therefore, this paper proposed to apply IoT technology to enterprise HRM, so as to promote the overall development of enterprise HRM.

This research leverages IoT technology and radial basis function neural networks to significantly enhance the predictive modeling of enterprise human resource needs, outperforming traditional algorithms in accuracy and efficiency. Our model not only predicts employee numbers with an impressive 90.2 % accuracy (compared to the traditional 83.9 %) but also excels in forecasting sales revenue, achieving a remarkable 93.9 % accuracy against the conventional 85.2 %. These advancements highlight our model’s capability to provide more reliable and actionable insights for human resource planning and sales forecasting. Further extending our research’s applicability, we delved into the realm of wireless communication network security, achieving prediction accuracies ranging from 90.29 % to 92.85 % in various tests. This high level of precision in security risk prediction underscores the potential of IoT and data-driven approaches in addressing complex challenges in both human resources and information security management. The comprehensive examination and validation of our predictive models across different domains underscore their significant contribution to enhancing strategic decision-making and risk management in an increasingly digital and interconnected business environment.

Conclusions

In the era of the IoT, there are many problems in the traditional enterprise HRM, which is difficult to meet the new needs of enterprise strategic development, and needs to follow the pace of the times to make changes. The IoT not only brings a lot of convenience to human beings, but also brings some hidden dangers to the security of communication networks. It also needs to combine data driven technology to improve the security of communication networks. In order to promote the development of enterprise HRM, this paper proposed to apply the IoT to enterprise HRM, and combined radial basis function neural network to build a prediction model of enterprise human resource demand. Finally, the model was tested. Under this algorithm, the prediction accuracy of the enterprise human resource demand prediction model for sales revenue and the number of employees was very high, and the prediction accuracy had been significantly improved. This paper also evaluated the wireless communication network security risk prediction model, and the experimental results showed that the prediction accuracy of this model was high.

Abstract

The purpose of this paper is twofold: (i) to identify the thematic categories and central topics connecting digitization and operational efficiency in the banking sector; and (ii) to develop a research agenda to guide future research endeavors to advance knowledge related to digital operational efficiency (DOE). Employing a two-stage content-centric review approach, this study comprehensively outlines overarching themes and subsequently delves into specific dimensions. The first stage aimed to provide an overview of research connecting operational efficiency and digitization in the banking sector and to refine the search criteria for content analysis. The second stage employed content analysis concentrated on journal articles published between 2018 and 2023. Central topics include enhancing banking industry performance through industry 4.0 technology and partnerships, the impact of the COVID-19 pandemic on bank digital transformation, organizational adaptations for embracing new digital business models, and elevating customer experience through novel operational paradigms. The research agenda proposed include the following: DOE conceptual development; digital bank break-even analysis; optimization of the product and service portfolio offered by digital banks; and consumer experience and level of service of digital banks. By delving into the impact of industry 4.0 technologies, pandemic, and digital business models, this paper enriches our understanding of the complex interplay between digitization and operational efficiency. The proposed research agenda offers a roadmap for future scholarly endeavors, contributing to the evolution of theoretical frameworks in this field. This paper offers insights relevant for banking industry professionals, providing them with valuable guidance on how to enhance their performance, optimize their digital product and service portfolio, and elevate the overall customer experience in the rapidly evolving landscape of digital banking.

Introduction

It is of utmost importance for banks and the financial services industry to assess the outcomes of their operations. This evaluation holds significant weight as it showcases their financial efficiency to various stakeholders, including the market, investors, competitors, and ultimately fosters a sense of trust among their customers (Pio et al., 2023). A well-established avenue to achieve this is through the utilization of the Operational Efficiency Index (OEI), which is determined by dividing the cost by the revenue (Nguyen, Tripe & Ngo, 2018; Khan & Shireen, 2020; Allen & Rai, 1996).

By employing this methodology, financial analysts and investors are empowered to conduct thorough financial analyses and comparisons across companies (Bangarwa & Roy, 2022). This encompasses scrutinizing variables such as payroll expenditures, revenues across distinct lines of business (e.g., credit cards and corporate banking), thereby enabling the identification of the most proficient companies. Furthermore, this approach aids in discerning which entities are most conducive for investment or divestment (Luo, Fan & Zhang, 2017).

Conclusion

This research paper has navigated the dynamic landscape of digitization in the financial sector, unveiling a nuanced tapestry of insights that collectively redefine the contours of operational efficiency and customer experience. The synthesis of contemporary literature, empirical analyses, and conceptual deliberations has culminated in a comprehensive understanding of the pivotal dimensions shaping the trajectory of banking in the digital age.

In terms of contributions, this paper sheds light on the pivotal role of digital technologies and partnerships in shaping the performance of the banking industry. It unravels the transformative impact of the COVID-19 pandemic, underscoring how digitization became a pivotal strategy for resilience and adaptation. Moreover, it delves into novel operational approaches and emphasizes the paramount importance of customer-centricity, offering a comprehensive research agenda that propels future inquiries.

These insights bear implications for both theory and practice. The conceptual development of DOE lays a robust foundation for further theoretical exploration, while the analysis of digital bank break-even dynamics and optimization of product portfolios guide practical strategies for sustainable digital banking models. The elevation of customer experience underscores the imperative of crafting seamless, technology-driven interactions that resonate with evolving consumer expectations, shaping a customer-centric paradigm in financial services.

Abstract

Previous studies have addressed social media adoption in business-to-business (B2B) contexts, but limited research has focused on understanding social media marketing assimilation in the B2B context. Using an integrative model, this study examines how top management participation influences the assimilation of social media in the key marketing areas of product development, pricing decision-making, channel management, and promotion. Furthermore, it examines the resulting impact of these assimilations on B2B firms’ performance, particularly in respect of sales performance and relationship development. The study also examines the moderating impact of absorptive capacity on top management participation in the assimilation processes. The findings reveal that top management participation strongly influences social media assimilation into marketing functions. However, the impact of social media assimilation on B2B firms’ performance is varied. While assimilation for channel management positively impacts both sales performance and relationship development, assimilation for product development is only positively related to relationship development. Conversely, assimilation into the functions of pricing decisions and promotion activities shows no significant impact on either sales performance or relationship development. Finally, absorptive capacity positively moderates top management participation in social media assimilation into all key marketing functions except one. The theoretical and managerial implications of these findings are discussed.

Introduction

Social media have emerged as a “game-changer” (Kumar, 2015, p. 5), playing a leading role in the revolutions taking place in business-to-consumer (B2C) and business-to-business (B2B) marketing. B2C marketing uses social media marketing widely, and B2B operations have begun embracing it to streamline their internal marketing communication, generate leads, drive sales, and strengthen customer relationships. Chaffey (2018) found that 79% of B2B marketing specialists rated social media as the most effective marketing channel, with a further 38% indicating that, if they had surplus in their budget for marketing in the following year, they would devote it to social media marketing. Similarly, Elevation Marketing (2020) noted that 90% of B2B buyers use social media to engage with industry thought leaders, with a further 72% indicating that they use social media channels to research solutions.

B2B social media research tracks the increase in social media use in this business interface. Previous studies have addressed several aspects of social media use in the context of B2B, including salespersons’ social media use in B2B relationships (Bill, Feurer, & Klarmann, 2020; Bowen, Lai-Bennejean, Haas, & Rangarajan, 2021; Fraccastoro, Gabrielsson, & Pullins, 2021), B2B social media adoption (Dwivedi, Ismagilova, Rana, & Raman, 2021; Lashgari, Sutton-Brady, Søilen, & Ulfvengren, 2018; Siamagka, Christodoulides, Michaelidou, & Valvi, 2015; Veldeman, Van Praet, & Mechant, 2017), and B2B social media marketing and branding (Brennan & Croft, 2012; Juntunen, Ismagilova, & Oikarinen, 2020). In addition, social media in B2B entails several unexplored issues worth investigating. Although previous studies have addressed social media adoption in a B2B context, the current body of research shows an observable dearth of producing a nuanced understanding of the factors underlying the assimilation of social media in firms’ marketing functions and how they improve their marketing performance. The assimilation phase occurs after the initial implementation of the innovation. It involves the ongoing integration and use of innovation in the firm’s day-to-day operations. In the context of social media marketing, this phase focuses on leveraging social media platforms to support the attainment of the marketing strategy related to product development, pricing decision-making, channel management, and promotion activities, and on realising the anticipated benefits.

Conclusion

In many instances, technological innovations are introduced into firms with great enthusiasm, which may be occasioned by widespread initial acquisition. Nevertheless, these innovations may fail to be completely deployed in the operations of the acquiring firms. Research has shown that, unless innovations are assimilated, firms do not benefit fully from them. Social media are one innovation that B2B firms are adopting for their marketing activities. While social media adoption in B2B firms has received some research attention, a limited number of studies have focused on social media marketing assimilation in B2B firms, the conditions that enhance this assimilation, and how the assimilation contributes to firms’ performance. In this study we examined how top management participation influences the assimilation of social media in the key marketing functional areas of product development, pricing decision-making, channel management, and promotion activities. We also examined how the existing absorptive capacity of B2B firms moderates the influence of top management participation on the assimilation of social media in the key marketing functional areas. Finally, we analysed how social media marketing assimilation into these marketing functional areas improves a firm’s performance outcomes of sales and relationship development. The study’s results show that top management participation in the social media marketing assimilation processes has a strong and positive impact on the assimilation of social media for key marketing functional areas, namely product development decisions, pricing decision-making, channel management, and promotion activities. Furthermore, the findings indicate that top management participation in the assimilation of social media in the functional areas, except in the case of promotion activities, is positively moderated by the existing absorptive capacity of the firm. The results also show that social media marketing assimilation for product development has a significant impact on sales performance, while its assimilation for channel management has a significant impact on both sales performance and relationship development.

Abstract

The role of Instagram brand messaging as a force for good is examined when a brand’s mission is creating societal change and where being authentic can also lead to controversy and negative responses. A depth study of an exemplary brand is used to explore brand authenticity in the context of sustainability, brand activism messaging and consumer responses to brand posts on Instagram. We offer a unique perspective by focusing on authentic brand sustainability activism. 104 brand messages and 5541 consumer responses to Patagonia, an activist brand renowned for supporting environmental and social issues, are analysed. An extended ‘activist sustainability view’ of brand authenticity is proposed including the conceptualisation of authentic brand sustainability activism. Eight types of consumer response to brand sustainability posts that encompass both positive and negative sentiment are identified. Theoretical and managerial implications, and avenues for future research are offered.

Introduction

The climate crisis poses an existential threat; if we don’t clean up our mess, we’ll be history. Business has a role to play, but it’s only one lever. We must use all the tools at our disposal to secure a safer, more just future. (Ryan Gellert, Patagonia CEO cited in Patagonia,(2022a).

A key issue in business research concerns how organisations position themselves to deliver more than growth and profit – positive impact on society and the environment as tenets of sustainability are a given (Lloveras et al., 2022). An emphasis on sustainability marketing that considers a variety of marketing practices and interactions is now critical if there is to be genuine change for people and planet (Thomas, 2018). Brands are increasingly used as a marketing tool for more than driving sales – they can represent an organisation’s raison d’etre and become a platform for societal change. Brand identity created around sustainability must deliver on promises and ensure authentic embedding of sustainability (Vallaster et al., 2012). Research suggests that when brands promote sustainability values it is essential to be perceived as authentic because consumers are often sceptical about sustainability claims (Ginder and Byun, 2022, Iglesias and Ind, 2020). But what happens in terms of brand authenticity when a sustainable brand takes a stand on controversial environmental, social, and economic issues and essentially becomes a sustainable activist brand?

Being an authentic brand and communicating authentically is characterised by having brand behaviour and core values that are consistent over time (Bruhn et al., 2012, Fritz et al., 2017, Spiggle et al., 2012), remaining real, truthful, honest and true to itself (Becker et al., 2019, Beverland, 2006), and symbolising what the brand stands for (Jian et al., 2019, Morhart et al., 2015). Brand scholars agree on four key dimensions of brand authenticity that can lead to enhanced brand attachment, positive word of mouth, and intentions to purchase, including continuity, credibility, integrity, and symbolism (Carsana and Jolibert, 2018, Morhart et al., 2015). These dimensions of brand authenticity have been exemplified by famous brands that show leadership in some facet of business and connect well with their customers, for example Lego, Amazon and Apple (Goldsmith, 2019). However, while many famously authentic brands have well-accepted prosocial Corporate Social Responsibility (CSR) agendas they tend not to adopt issues that are divisive (Mirzaei et al., 2022). Less is known about how the reported dimensions of brand authenticity play out in the context of activist brands that have strong, uncompromising, and sometimes polarising socio-political and sustainability agendas (Eilert & Nappier Cherup, 2020).

Implications and conclusions

Being an authentic ASB does not mean it is without fault and cannot improve, but it does mean being true to its mission. Of course Patagonia is ultimately a business and will only survive if people continue to consume and use their products. Ironically, their sustainability agenda may also drive consumption. However, on balance, their drive to reduce their own impact on the planet (production side) and their commitment to use resources for good to encourage reductions in the impact of consumption (related to their own industry and more generally in the wider world) is full of integrity. As an activist sustainability brand they have been consistent in their use of authentic symbolism and continuously credible in their drive to do better – as any authentic brand should be – and this case study of a 50-year-old activist brand has allowed us to make several theoretical contributions.

Abstract

Using a unique dataset comprising 6313 firm-year observations for Chinese listed firms between 2008 and 2017, we investigate the impact of CEO social capital on cost of debt. Our results show that CEO social capital is negatively related to cost of debt, and the impact of CEO social capital in environments with a low degree of marketization or social trust is more pronounced than in environments with a high degree of marketization or social trust. Moreover, our results reveal that two potential mechanisms, discretionary accruals and information disclosure quality, mediate the impact of CEO social capital on cost of debt.

Introduction

Research into social capital in the area of social economics emerged late last century (e.g., Coleman, 1988 ; Putnam, 1993 , Putnam, 1995 ; Knack and Keefer, 1997 ; Uzzi, 1997 ; Portes, 1998 ; Woolcock, 1998 ; Dasgupta, 2005 ; Fafchamps, 2006 ). Prior studies have acknowledged the significance of the personal social capital embedded in social networks for corporate commercial activities, including corporate financing ( Engelberg et al., 2012 ; Ferris et al., 2017 ; Huang and Shang, 2019 ; Jin et al., 2019 ), corporate investment ( Faleye et al., 2014 ; Fracassi, 2017 ), mergers and acquisitions ( Fracassi and Tate, 2012 ; El-Khatib et al., 2015 ), executive employment and compensation policies ( Hwang and Kim, 2009 ; Fracassi and Tate, 2012 ; Nguyen, 2012 ; Engelberg et al., 2013 ; Ferris et al., 2020 ), risk-taking and accounting practices ( Ferris et al., 2017 , Ferris et al., 2019 ; Panta, 2020 ), and litigation risk ( Zhang et al., 2023 ). Personal social capital embedded in social networks, especially the social capital of corporate executives, has a significant influence on corporate financing. Social capital enhances the trust between borrowers and lenders and increases risk-taking behavior as social capital is seen as an informal insurance. As invisible social credit and a conduit for the exchange of information, CEO social capital benefits corporate financing activities.

We are motivated to investigate the connect between CEO social capital and cost of debt due to the complex institutional background of network and the importance of debt financing in the context of China. Despite China’s remarkable economic growth in recent decades, its financial and legal environments remain underdeveloped. Allen et al. (2005) suggest that in order to sustain this growth, China requires alternative governance mechanisms and informal institutional arrangements. In the Chinese context, China is characterized as a relationship-based society, where social capital embedded in social networks, known as “Guan Xi,” holds significant prevalence and complexity. These networks provide Chinese additional social resources such as information and status ( Song et al., 2012 ; Bian, 2019 ). For example, the CEOs and chairmen of Chinese non-state-owned firms use bank loans to raise funds through their political contacts ( Yu and Pan, 2008 ). Loan approvals and covenants for Chinese corporates are influenced by CEO social capital ( Shen et al., 2009 ; Xu and Li, 2016 ). CEO social capital is negatively associated with firm leverage and short-term debt ratio, and social capital lowers the need for corporate bank borrowing ( Huang and Shang, 2019 ), and the social capital benefits improving the quality of corporate loans ( Jin et al., 2019 ). These studies only reveal the impact of managerial social capital on corporate financing, while the research into the impact of CEO social capital on the cost of debt is relatively scarce, particularly in emerging markets such as China.

Conclusion

This study investigates the relationship between CEO’s social capital and cost of debt. We posit that CEO’s social capital offers incentives for CEOs to provide enhanced information transparency and quality, which lowers the monitoring costs for the borrowers, inducing reduced cost of debt. Additionally, CEO’s social capital creates a sense of trust between the lenders and the borrowers due to the informal tie that social capital creates among the networks. Using a unique dataset consisting with 6313 firm-year observations from the firms listed on the Shanghai and Shenzhen Stock Exchange markets from 2008 to 2017, our results suggest that CEO’s social capital reduces cost of debt in the context of China, and such effect is more pronounced when there is a lack of information verification from the regulators (i.e., marketization) and societal norm (i.e., social trust). Moreover, we find that CEO’s social capital reduces cost of debt through the path of reduced discretionary accruals and information disclosure quality. Our results hold after a battery of robustness checks, including the three individual proxies (betweenness centrality, closeness centrality and degree centrality) for CEO social capital, the two alternative proxies for cost of debt, sample without political capital, excess social capital, the consideration of family business characteristics, the interactive effect of state-owned enterprises and endogeneity concerns.

Abstract

This study examines the impact of product quality and online shopping experience (OSE) on consumer loyalty through customer satisfaction in the context of local skincare products. Findings reveal that both product quality and OSE significantly influence consumer loyalty, with OSE having the strongest effect. Perceptions of lower prices on e-commerce platforms are crucial. The study integrates Social Presence Theory with product quality, customer satisfaction, and Flow Theory in understanding the OSE. These insights can help businesses enhance customer loyalty and satisfaction in the local skincare industry. Overall, the research objectives of this study are geared toward uncovering the relationship between product quality, OSE, customer satisfaction, and consumer loyalty in the local skincare industry. By achieving these objectives, the study aims to provide valuable insights for businesses to enhance customer loyalty and develop effective strategies for success in the market.

Introduction

The COVID-19 pandemic has significantly impacted customer satisfaction with skincare products in Indonesia. With the shift to online shopping due to lockdowns and social distancing measures, customers have faced challenges physically experiencing and testing products. However, skincare brands that offer detailed information, virtual consultations, and seamless online experiences have the opportunity to enhance customer satisfaction. The demand for skincare products in Indonesia has shown steady growth, with sales of health and personal care reaching US $5.93 billion in 2020, US $6.34 billion in 2021, and projected to reach US $7.23 billion in 2022 which is skincare amounting to US$2.05 billion, according to Statista (Mutia, 2022) and expected to grow every year by 5.81%. This underscores the importance of customer satisfaction in driving sales and capturing market share in the skincare industry.

Customer satisfaction is vital in the skincare industry as it directly impacts sales and consumer loyalty. Satisfied customers are more likely to purchase and recommend products, while dissatisfied customers may switch to other brands, potentially losing sales. With intense competition in the skincare market, meeting customer expectations and providing a positive shopping experience is crucial for building a loyal consumer base and driving sales. Additionally, negative experiences can quickly harm a brand’s reputation in the age of social media and online reviews. Prioritizing customer satisfaction helps maintain a competitive edge and fosters long-term customer relationships.

Conclusion

From the results of this study, it can be concluded that online shopping experience has a stronger influence, directly or indirectly, on consumer loyalty. This means that companies selling online need to ensure consumers have a good experience when shopping online. This experience can be formed from the ease of using an application or website, ease of access, language, and ease of seeing the appearance of skincare products that can make consumers feel good when using the website or application. Looking at the product quality variable, product quality can also have an effect, but not as strong as online shopping experience, so to maintain product quality, skincare brands can continuously monitor the expiration date of skincare products, make testimonials from skincare users to prove quality. skincare products and ensure that skincare products are safe by obtaining a halal label from the government.

Abstract

Practitioners and researchers are increasingly engaged and interested in digital transformation leadership. However, the existing literature is fragmented and we lack knowledge of the competencies required by business leaders to facilitate digital transformation. In response, we rely on a literature study and draw inspiration from the Competing Values Framework to identify digital transformation leadership competencies. We theorize four archetypical competency portfolios, which are labeled according to the types of leaders who personify the constituent competencies: the challenger, the bricoleur, the organizer, and the competitor. We draw inspiration from the Competing Values Framework in advancing a contingency perspective on archetypical these portfolios. By theorizing competency portfolios, we contribute new insights into the role of leadership in digital transformation, which requires different competencies depending on the transformation drivers and goals. Our proposed competency portfolio framework serves as a valuable tool for identifying the required competencies and making decisions on whether to upskill existing leaders or hire new ones to drive transformation efforts.

Introduction

The rising interest in digital transformation spans both academia and organizations (Markus & Rowe, 2023). The number of publications on this topic has tripled over the past decade (Hanelt et al., 2021), and organizations are constantly faced with new digital technologies that have the potential to transform business models and organizational identities (Wessel et al., 2021). The growing importance of these technologies has placed digital transformation at the top of business agendas (Imran et al., 2020, Zulu and Khosrowshahi, 2021) and produced an increased awareness of the need for new competencies among business leaders who are strategizing and spearheading digital transformation (Bennis, 2013, Imran et al., 2020, Klein, 2020, McCarthy et al., 2021, Schiuma et al., 2021). Business leaders are increasingly playing a pivotal role in driving the digital transformation agenda (Preston et al., 2008, Wolff et al., 2019, Adie et al., 2022) not only by strategizing and influencing the behavior of employees (Bunjak et al., 2022, Nguyen and Hooi, 2020) but also by leading by example in the pursuit of change (Imran et al., 2020, Zulu and Khosrowshahi, 2021). In short, digital transformation requires skilled leaders (Skare et al., 2023). By focusing on the role of business leaders, we adopt a view of “leadership as a social influence process” (Banks et al., 2022, p. 1) that emphasizes “the activities of an organized group in its efforts toward goal setting and goal achievement” (Stogdill, 1950, p. 4).

Previous studies of digital transformation leadership emphasize that business leaders must be able to recognize when digital transformation is needed (Bharadwaj et al., 2013, Cortellazzo et al., 2019), foster an environment that supports this transformation (Singh and Hess, 2017, Imran et al., 2020, van Toorn et al., 2019), understand the influence of organizational culture on a company’s ability to participate in digital transformation (Müller et al., 2019), take into account how digital transformation impacts organizational structures and leadership (Engesmo & Panteli, 2021), and empower employees to turn strategic initiatives into new work practices (Andriole, 2018, Sousa and Rocha, 2019, Nielsen et al., 2023). McCarthy et al. (2021) identify eight characteristics of digital transformation leadership and provide an initial mapping between these characteristics and C-suite roles. Klein (2020) expands the number of digital leadership characteristics to 23, and Schiuma et al. (2021) present a model, the transformative leadership compass, outlining six competencies “distinguishing a digital transformative leader capable of driving continuous company innovation and specifically digital transformation entrepreneurship” (p. 1273).

Concluding remarks

In this article, we describe the competencies that business leaders need to facilitate digital transformation. We argue that relevant leadership competencies depend on the drivers and goals of the organization’s digital transformation efforts. Based on a review of the literature, we theorize four distinct sets of competencies that leaders need under varying circumstances, something we refer to as archetypical leadership competency portfolios. These portfolios are gathered into a competency portfolio framework (Fig. 1). We label the portfolios according to the types of leaders who personify the constituent competencies: the challenger, the bricoleur, the organizer, and the competitor. These portfolios relate to the drivers and goals of (a) exploring market innovation, (b) supporting operational efficiency, (c) ensuring active stakeholder involvement, and (d) improving competitive positioning. Although there are other categorizations of digital transformation leadership competencies, for example, Zulu & Khosrowshahi’s (2021) taxonomy of different leadership types that range from forward-thinking to visionless leaders, our theorizing constitutes the first attempt at fencing in the digital transformation leadership competencies from a contingency perspective.

Abstract

Enhancing the capacity of a luxury brand to stir a deep connection with customers has always been the focus of practitioners in the luxury industry. This study explores the potential role of social media in converting attachment with a luxury brand into desirable marketing outcomes. The relationships between “luxury brand attachment,” “motivation,” “social media usage,” “word-of-mouth,” and “purchase intention” are examined to understand the drivers and outcomes of luxury brand attachment in social media. A questionnaire was administered to a sample of 341 social media users on various platforms. Data were analyzed using SPSS and Amos. The results revealed that the most important attribute generating luxury attachment in social media is the capacity of a luxury brand to show prestige and status. The direct relationship between luxury brand attachment and purchase intentions is nonsignificant. A stronger attachment to a luxury brand does not entice direct intention to purchase it unless certain motives drive consumers’ luxury engagement in social media. These insights can guide marketing managers in creating effective strategies for their luxury products.

Introduction

Over the past years, the luxury market has seen significant growth, with generated revenues of US$281 billion from the world’s top 100 luxury companies [1, 2]. The Gulf Cooperation Council’s (GCC) luxury sector has been valued at $11.4 billion in 2020, demonstrating substantial potential for growth due to factors such as rising economic development, a large young population, increasing penetration of e-commerce, and strong growth in the tourism sector [3]. Kuwait, historically referred to as the “pearl of the Gulf,” stands out as a particularly attractive destination for luxury products. The Chalhoub Group reports that Kuwait is the third-largest market in the Gulf, exhibiting the highest growth of 35% in 2021 compared to 2019 [4]. Despite this attractiveness, Kuwait’s luxury market remains underinvestigated [5], presenting unique cultural challenges for luxury brand managers.

In this context, social media (SM) has emerged as a pivotal platform for luxury brands. Social media is broadly defined as a set of digital platforms that facilitate the creation and sharing of information, ideas, interests, and other forms of expression through virtual communities and networks [6]. It is characterized by its high interactivity, user-generated content, and the ability to connect and share with a broad audience. As of the latest data, SM platforms collectively boast billions of users worldwide, underscoring their influence and reach. Popular features of SM include instant messaging, content sharing, networking, and community engagement, which have become integral to modern marketing strategies, especially in the luxury sector [7].

Conclusion and Future Research Directions

In conclusion, this study delves into the complex relationship between LBA, social media engagement, and purchase intentions, particularly within the context of Kuwait’s affluent market. The findings underscore that the display of prestige and status is pivotal in cultivating LBA, which, however, does not directly lead to purchase intentions. The key lies in the role of motivation, which acts as a vital link in turning luxury attachment into consumer purchasing actions. This finding is particularly relevant for luxury brands aiming to effectively leverage SM without compromising their unique brand identities.

While the study contributes significantly to both theoretical and practical domains, it is not without limitations. The reliance on self-reported data from social media users about past behaviors and future intentions may introduce biases. Future studies might employ more objective data collection methods or triangulate findings with qualitative insights to enhance validity. The focus on a specific demographic in Kuwait limits the generalizability of the findings. Expanding future research to include diverse demographics and geographic regions will enhance understanding and applicability considering economic and cultural factors in these diverse regions. The cross-cultural studies would support the understanding of how digital platforms influence consumer behavior in distinctive luxury markets, filling the knowledge gap in the literature regarding the motives driving luxury brand engagement on SM. Additionally, the study’s approach to general luxury brand perceptions, without differentiating between various luxury levels, opens the door for more nuanced future research. Investigating how attachment to different tiers of luxury brands on specific SM platforms influences purchase intentions could offer deeper insights, considering the limitation that our study’s focus is not on specific platform usage but on the overall impact of SM on luxury brand engagement. Furthermore, exploring the psychological underpinnings, such as social identity and self-concept, that drive luxury purchases, particularly in the ever-evolving social media landscape, could yield valuable findings. This would not only address the current study’s limitations but also guide luxury brand managers in developing adaptive strategies in the digital era that resonate with a sophisticated and dynamic consumer base.

Abstract

This paper compares the potential characteristics of B2B platforms as identified in the information systems literature with those in the general platform literature. Our analysis reveals that these characteristics are not exclusive to B2B platforms and suggests that the differences between B2B and B2C platforms may be more subtle. Moreover, it remains unclear whether these differences serve as success factors for B2B platforms or merely represent the current approaches of the platforms under examination. We identified five potential differences that warrant further investigation. Therefore, this literature-based comparison lays the groundwork for further research on supporting decision-making when building a B2B platform ecosystem or joining a B2B platform ecosystem. Especially important is the fact that building on insights from B2C could lead to wrong decisions and platform failure or unintended outcomes for participants. Thereby the study contributes to understanding of the unique aspects of digital B2B platforms and has implications for B2B platform managers and policymakers because the presence of these ecosystems can considerably influence competitive dynamics in markets.

Introduction

Business-to-business (B2B) platforms and platform ecosystems have recently gained significant traction. They are much-debated topics in conferences [1] and in the literature (see, for example, [2], [3], [4], [5]). However, apart from a few well-known examples, such as Alibaba or Amazon Business, B2B platforms attract less attention from the media and regulators compared with their business-to-consumer (B2C) counterparts. It also seems unclear in the academic literature whether B2B platforms can create the same dynamics as their B2C1 counterparts [4], [6]. Based on a systematic review of the information systems (IS) literature to capture the characteristics of B2B platforms, the goal of this paper is to compare their characteristics with those of B2C platforms and discuss potential differences.

The term ‘platform’ is used to refer to many different concepts. However, from an economic point of view, platforms are defined as two- or multi-sided markets that connect two groups of users, enable interaction between them, and reduce transaction costs [7], [8], [9], [10], [11]. According to this definition, network effects are the main difference between a platform and traditional pipeline business models. Participants from different user groups benefit from each other’s presence on the platform [12]; they exert a positive externality on each other. The platform internalizes the network externalities between the user groups and provides the infrastructure and governance for two parties to find each other and interact securely [10], [13]. Without this central coordination mechanism, the market would either not exist, the cost of interaction would be (much) higher, or there would be (much) less interaction.

Conclusion

This paper builds on a systematic analysis of the information system literature focusing on market-related factors of B2B platforms. By comparing these factors with the traditional B2C platform literature, we aimed to identify both commonalities and distinctions between the two types of platforms. Our investigation did not reveal any factors that are unique to B2B platforms compared to B2C platforms. Instead, both types of platforms rely on (indirect) network effects, confront the challenge of the chicken-and-egg problem, need to manage interactions, and depend on data for orchestration and scalability. However, our analysis suggests that there are more subtle differences between B2B and B2C platforms, which led us to formulate new research questions. Answering these questions can contribute to a better understanding of the nuanced disparities between the two types of platforms. Therefore, we cannot fully answer the question of whether B2B and B2C platforms are fraternal twins or false friends. In the first case, there is no difference between the two platforms, and the knowledge and principles from studies of B2C platforms can be transferred to B2B platforms. In the second case, the knowledge and principles from B2C platforms being applied to B2B platforms leads to poor results and the notion that platforms cannot work in B2B markets. Our results show that it depends, among other things, on the type of platform, the market, and the owner of the platform. Therefore, our study adds to the literature comparing B2B and B2C platforms and crystalizes the peculiarities of B2B platforms. In this sense, our paper is closest to Anderson et al. [2], who formed hypotheses about differences and peculiarities in analyzing a dataset of 79 B2B platforms in Germany. The nuanced nature of the differences is also in line with previous work [59], [60], [61]. Fig. 4 illustrates this and points out the differences identified between B2B and B2C platforms. The figure also emphasizes how close B2B and B2C platforms are and that paying insufficient attention to the differences may lead to the false analogy fallacy and, therefore, to misguided strategic decisions.