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Paradox and Cross-Border Complexity

Project Description

Globalization, digitalization and changing consumption patterns brought with it unprecedented complexity, pace, and diversity. Organizations are forced to tackle new or evolving paradoxical tensions (for example between goals such as innovation and efficiency or economic and social value creation). While such paradoxical tensions need to be managed by all types of organizations, they are particularly challenging in firms with substantial cross boarder relationships. This has two reasons: First, the tensions are complemented with the additional trade-off between
global adaptation and local responsiveness inherent in all multinational organizations (Ambos et al., 2020). Second, researchers have shown that different cultures have fundamentally different approaches to perceive and deal with tensions (Smith et al., 2017). While prior research acknowledges these challenges, we know little about how paradoxical tensions are perceived and can be managed across different cultures within multinational organizations. This is of particular importance for Liechtenstein and the broader Rhine Valley region, where large corporations but also mid-sized enterprises are typically strongly export-oriented and tend to have a broad international
footprint. Furthermore, many of these firms position themselves as highly sustainable and responsible innovation leaders with a strong business acumen, which fosters paradoxes and provides the ideal research environment for this project. Finally, the project is well-aligned with the University’s core research topics, reconciling research on innovation, sustainability, and responsibility.

Organizational Transformation in Dynamic Environments - Understanding Success Factors for the Implementation of “Design Thinking” Processes from a Complex Adaptive Systems Perspective

Project Description

Especially technology driven firms are facing a faster rate of change than ever before. The main drivers are new technological developments, changing demands from customers and fierce competition. The capabilities to successfully transform, adapt and execute are key to success and crucial for their survival. However, these capabilities are too often underdeveloped and companies are struggling to keep up and execute in a timely manner - especially on an ongoing basis. One of the reasons could be the complexity of integrating all the different elements of a company during this process.

This research project focuses on the question where the complexity comes from (understanding the sources) and what we can learn from the interdisciplinary science of complexity research to strengthen the organizational capabilities to transform and execute successfully. This will be done by taking on a perspective where organizations and its people are seen as complex adaptive systems such as living organism's rather then mechanical machines. These systems need certain conditions to survive and strive in a changing environment. Managers have the responsibility to create these conditions. It is therefore the intention of the research project to develop a model, which integrates findings form complexity research with management thinking to help strengthen the organizational capabilities to transform.

Keywords

Entrepreneurship Strategy Execution Dynamic capabilities Transformation/Change Management of Complexity

Project Participants

Employee
PD Dr. habil. Christian Marxt
- Supervisor
Supervisor
Employee
Dr. Markus Spiegel
- PhD-Student
PhD-Student
Prof. Dr. Larry J. Leifer
- Co-Supervisor
Co-Supervisor
Prof. Dr. Sara L. Beckman
- Co-Supervisor
Co-Supervisor

Organizational openness and innovation - exploring capabilities and the role of digitalization

Project Description

The notion that innovation no longer takes place within the borders of a single organization is not something new. The world's growing complexity and changing environments challenge both incumbent firms and new ventures to explore new forms of innovation, forms that go beyond what organizations can handle themselves. Research has acknowledged that the traditional vertically integrated innovation model has often given space to a rather distributed process across multiple stakeholders in a value network. In contrast to the "closed" model of innovation, we see a move toward openness or "distributed innovation processes". Open or distributed approaches to innovation make use of inflows and outflows of knowledge to improve innovation processes and outcomes and are based on the principle that success requires businesses to combine external assets with internal assets and capabilities. Internet developments and the expansion of new technologies as collaborative methods, such as Crowdsourcing, play a significant role in facilitating and stimulating innovation, as well in supporting openness in organizational structures and processes. Digitalization and the rise of the so-called Digital Economy have not only accelerated a conversion towards digital products, services and business models but it has also dramatically changed the way businesses compete and operate. This approach offers opportunities, but also defies established practices, norms, cultures and structures and, therefore, demands innovation processes to be managed in an unusual way.
The goal of this PhD research project is to pursue a more comprehensive understanding of distributed innovation practices. We aim at analyzing the key technological and managerial changes associated with them. The outcomes are expected to contribute to the recent academic and practical discussion about new or complementary approaches of innovation and the role of digitalization.

Keywords

Dynamic capabilities Strategy Innovation management Digitalization

Project Participants

Employee
Dr. rer. oec. Ana Claudia Procopio Barbosa Schön
- PhD-Student
PhD-Student
Employee
Prof. Dr. Jan vom Brocke
- Supervisor
Visiting Professor - Information Systems and Process Science
Supervisor
icon
Dr. Dimitrios Salampasis
- Co-Supervisor
Co-Supervisor

Organizational openness and innovation - exploring capabilities and the role of digitalization

Project Description

The notion that innovation no longer takes place within the borders of a single organization is not something new. The world's growing complexity and changing environments challenge both incumbent firms and new ventures to explore new forms of innovation, forms that go beyond what organizations can handle themselves. Research has acknowledged that the traditional vertically integrated innovation model has often given space to a rather distributed process across multiple stakeholders in a value network. In contrast to the "closed" model of innovation, we see a move toward openness or "distributed innovation processes". Open or distributed approaches to innovation make use of inflows and outflows of knowledge to improve innovation processes and outcomes and are based on the principle that success requires businesses to combine external assets with internal assets and capabilities. Internet developments and the expansion of new technologies as collaborative methods, such as Crowdsourcing, play a significant role in facilitating and stimulating innovation, as well in supporting openness in organizational structures and processes. Digitalization and the rise of the so-called Digital Economy have not only accelerated a conversion towards digital products, services and business models but it has also dramatically changed the way businesses compete and operate. This approach offers opportunities, but also defies established practices, norms, cultures and structures and, therefore, demands innovation processes to be managed in an unusual way.
The goal of this PhD research project is to pursue a more comprehensive understanding of distributed innovation practices. We aim at analyzing the key technological and managerial changes associated with them. The outcomes are expected to contribute to the recent academic and practical discussion about new or complementary approaches of innovation and the role of digitalization.

Keywords

Dynamic capabilities Strategy Innovation management Digitalization

Project Participants

Employee
Prof. Dr. Jan vom Brocke
- Supervisor
Visiting Professor - Information Systems and Process Science
Supervisor
icon
Employee
Dr. rer. oec. Ana Claudia Procopio Barbosa Schön
- PhD-Student
PhD-Student

Organizational Transformation from a Complex Adaptive Systems Perspective

Project Description

Das Ziel dieses Projektes ist es unser Verständnis von Wandel- und Transformationsprozesse in Organisationen die in einem dynamischen Umfeld operieren zu verbessern. Um dies zu erreichen werden Organisationen als Komplexe Adaptive Systeme betrachtet. Dieses Projekt bildet die erste Phase in der Bemühung Methoden und Modelle zu entwickeln die Manager dabei helfen sollen Wandel und Transformation in ihren Unternehmen erfolgreich voranzutreiben und an neue Gegebenheiten anzupassen.

Die wesentlichen Ziele sind:
  • Entwicklung eines neuen Model für organisatorischen Wandel und Transformation aus der Sicht Komplexer Adaptiver Systeme
  • Verstehen der Rolle von Komplexität in Wandel- und Transformationsprozessen
  • Identifikation von Erfolgsfaktoren für solche Projekte
  • Identifikation der wichtigsten Variablen und Dynamiken als Grundlage für eine Agenten Basierte Computer Simulation eines exemplarischen Transformationsprozess

Das Projekt verfolgt diese Ziele durch die Untersuchung von mehreren Fallstudien (5-8) in technologiegetriebenen Unternehmen.

Keywords

Entrepreneurship Organisational development

Project Participants

Employee
Dr. Markus Spiegel
- Principal Investigator
Principal Investigator
Employee
PD Dr. habil. Christian Marxt
- Project Collaborator
Project Collaborator

Organizational transformation and dynamic capabilities in technology oriented companies - a complexity perspective

Project Description

Especially technology driven firms are facing a faster rate of change than ever before. The main drivers are new technological developments, changing demands from customers and fierce competition. The capabilities to successfully transform, adapt and execute are key to success and crucial for their survival. However, these capabilities are too often underdeveloped and companies are struggling to keep up and execute in a timely manner - especially on an ongoing basis. One of the reasons could be the complexity of integrating all the different elements of a company during this process.

This research project focuses on the question where the complexity comes from (understanding the sources) and what we can learn from the interdisciplinary science of complexity research to strengthen the organizational capabilities to transform and execute successfully. This will be done by taking on a perspective where organizations and its people are seen as complex adaptive systems such as living organism's rather then mechanical machines. These systems need certain conditions to survive and strive in a changing environment. Managers have the responsibility to create these conditions. It is therefore the intention of the research project to develop a model, which integrates findings form complexity research with management thinking to help strengthen the organizational capabilities to transform.

Keywords

Entrepreneurship Strategy Execution Dynamic capabilities Transformation/Change Management of Complexity

Project Participants

Employee
Dr. Markus Spiegel
- PhD-Student
PhD-Student
Employee
PD Dr. habil. Christian Marxt
- Supervisor
Supervisor

Knowledge Governance

Project Description

By doing our conceptual research on the realm of knowledge worker motivation we want to contribute to the answering of the most important management challenge of the 21st century, namely how to motivate experts in varying organizational settings to perform at maximum capacity. We develop a contingency view and distinguish between the mode of knowledge production (in a team or by a single expert) and the storage of that generated knowledge (codification versus personalization strategy). The outcome of this is a 2x2-matrix, in whose cells we have a closer look at the necessary motivational tools. In some cases the vintage carrot can be promising, another circumstance demands threatening people with the notorious stick, and yet another case calls for a totally different make-up. Thus our approach differs strongly from the classical one-size-fits-all approach of employee motivation. The enormous practical relevance for successful corporate governance is illustrated by four illustrative examples (such as Google and Red Bull).

Keywords

Knowledge Management Knowledge management and organisational learning Leadership, motivation and incentive schemes Human Resources

Project Participants

Employee
PD Dr. habil. Stefan Güldenberg
- Principal Investigator
Principal Investigator
Employee
Prof. Dr. oec. publ. Antoinette Weibel
- Project Manager
Project Manager
Employee
Dr. rer. oec. Ingo Erich Bildstein
- Project Collaborator
Project Collaborator

Organisational Trustworthiness / Reputation

Project Description

Ziel: Treiber und Konsequenzen des Stakeholdervertrauen in das Unternehmen

Aktueller Stand: Abschluss der Vorstudie "Antecedents of Percieved Organizational Trustworthiness"

Keywords

Leadership, motivation and incentive schemes Strategic Management Organizational Behavior

Project Participants

Employee
Prof. Dr. oec. publ. Antoinette Weibel
- Project Manager
Project Manager

Optimisation of Asset Allocation based on Black-Litterman

Project Description

The classical approach of portfolio theory is almost exclusively based on the work by Harry Markowitz in which a double-sides objective is defined: maximisation of expected portfolio return by simultaneously minimising portfolio risk. As far as it comes to academic literature, the principles of modern portfolio theory are playing a major role and are generally accepted by theoreticians. However, the impact on the financial world is far less significant, when leaving aside the implementation of multiple constraints, and the respective concepts often disregarded due to its limitations when applied in the real financial world. The main short-comings are agreed to be its high portfolio sensitivity towards estimation errors (returns, volatility and correlations are traditionally estimated based on historical data) and the large impact of interim return alterations on the portfolio composition, which leads to extreme weight allocations, an increased number of shifts between the assets and thereby ultimately increasing transaction costs.

Fisher Black and Robert Litterman have developed the so called Black-Litterman approach in 1991 to improve the applicability of quantitative portfolio optimisation in practice. The approach allows for the flexible specification of a random number of stock recommendations and calculates in combination with strategic reference portfolios the new optimal portfolio weights. In fact, this approach is a successful realisation of Markowitz proposal to combine quantitative computed expected returns with subjective forecasts.

This cumulative dissertation aims at further establishing the Black-Litterman model (BL) by applying it to three special cases and thereby shedding more light on the characteristics of the model and its possibilities. At the same time each paper is assigned a specific research question, which the author wants to answer. All of the papers are focusing on answering research question in the field of financial economics.

Keywords

Public finance Portfolio Optimisation Asset Allocation Black-Litterman Approach International Diversification

Project Participants

Employee
Dr. Lars Kaiser
- PhD-Student
PhD-Student
Employee
Prof. em. Dr. Marco J. Menichetti
- Supervisor
Professor Emeritus - Liechtenstein Business School
Supervisor

Opportunity Recognition and Entrepreneurship Education

Project Description

It is crucial for entrepreneurs to identify and evaluate marketable business opportunities. The identification and exploration of opportunities leads to the discovery of new businesses. Hence, opportunity recognition is, and has always been considered, a focal point in the field of entrepreneurship. However, in entrepreneurship education research, little attention has been devoted to understanding the connection between entrepreneurship education and entrepreneurial opportunity recognition.

To strengthen the comprehension of how to opportunity recognition abilities are affected by effective entrepreneurship education activities is therefore the objective of this research.

Keywords

Entrepreneurship Entrepreneurship Education Opportunity Identification

Project Participants

Employee
Prof. em. Dr. Urs Baldegger
- Supervisor
Supervisor
Employee
Dr. rer. oec. Andreas Brülhart MBA Entrepreneurship
- PhD-Student
PhD-Student
Employee
Prof. Dr. Urs Fueglistaller
- Co-Supervisor
Co-Supervisor
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