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Business Value of Real-Time and High-Performance Computing

February 2013 until October 2015 (completed) PhD-Thesis

Project Description

Recent technological developments in the IT sector enable new possibilities for business process management. On the one hand, technologies such as ubiquitous computing and sensor networks allow capturing real-world data in real-time. On the other hand, innovations such as in-memory technology enable an increased information processing capability, i.e. high-performance computing.

Ubiquitous computing aims to leverage real-time technologies to collect real-world data for constantly capturing the status and environment of a process in a structured way. However, many other sources and types of unstructured data such as texts, images, audio, and video also contain valuable information for better decision making. Researchers and practitioners have labeled the approach of continuously harvesting vast amounts of structured and unstructured data in an integrated fashion as Big Data.

Another recent innovation enables an increased information processing capability by the usage of in-memory technology, which, e.g., enables a performance increase by a factor of 100.000 compared to traditional database management systems. This approach allows an analysis of Big Data in a timely manner, enables real-time control of business processes, and opens the gate for new applications to be developed.

While the new technology for enabling real-time and high-performance computing is available, the business value created through these technologies has not been analyzed in detail yet and, therefore, are the objective of this study.

Relevance to Liechtenstein

The dissertation topic is of high relevance to regional companies, so the project work is conducted in close cooperation with several companies in Liechtenstein. The results will be made available to the regional industry in regular workshops and round table meetings.

Keywords

Business Value Big Data In-Memory Real-Time Innovation

Participating Institutions

Hilti Chair of Business Process Management / Doctoral instiution

Project Participants

Employee
Dr. Stefan Debortoli
- PhD-Student
PhD-Student
Employee
Prof. Dr. Jan vom Brocke
- Supervisor
Visiting Professor - Information Systems and Process Science
Supervisor
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Employee
Prof. Dr. Jan Mendling
- Co-Supervisor
Co-Supervisor
Employee
Prof. Dr. Iris Junglas
- Co-Supervisor
Co-Supervisor

Business Value of Real-Time and High-Performance Computing

February 2013 (completed) Preproposal PhD-Thesis

Project Description

Recent technological developments in the IT sector enable new possibilities for business process management. On the one hand, technologies such as ubiquitous computing and sensor networks allow capturing real-world data in real-time. On the other hand, innovations such as in-memory technology enable an increased information processing capability, i.e. high-performance computing.

Ubiquitous computing aims to leverage real-time technologies to collect real-world data for constantly capturing the status and environment of a process in a structured way. However, many other sources and types of unstructured data such as texts, images, audio, and video also contain valuable information for better decision making. Researchers and practitioners have labeled the approach of continuously harvesting vast amounts of structured and unstructured data in an integrated fashion as Big Data.

Another recent innovation enables an increased information processing capability by the usage of in-memory technology, which, e.g., enables a performance increase by a factor of 100.000 compared to traditional database management systems. This approach allows an analysis of Big Data in a timely manner, enables real-time control of business processes, and opens the gate for new applications to be developed.

While the new technology for enabling real-time and high-performance computing is available, the business value created through these technologies has not been analyzed in detail yet and, therefore, are the objective of this study.

Keywords

Business Value Big Data In-Memory Real-Time Innovation

Project Participants

Employee
Dr. Stefan Debortoli
- PhD-Student
PhD-Student
Employee
Prof. Dr. Jan vom Brocke
- Supervisor
Visiting Professor - Information Systems and Process Science
Supervisor
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Business Model Innovation

July 2018 until August 2020 (completed) FFF-Funding Project

Project Description

Over the last two decades, the concepts of business models (BM) and, more recently, business model innovation (BMI) have gained increasing academic and corporate interest whereby BMI has been recognized as the key to competitiveness and innovativeness.
Despite the promises of BMI being the next big step of strategic management, the implementation of new BMs is an essential but also challenging task for organizations. In this light, firms often face difficulties with their existing business model, conflicts regarding the underlying asset configuration or missing clarity about how to exploit innovations.
The fast-growing academic and corporate interest in this field highlights the need for additional empirical research on BMI to derive a better understanding of the phenomenon. This is where this research project comes in. Through the use of different research approaches, we aim to take a look at organizational micro-foundations, practices, and processes to analyze underlying determinants that facilitate or hinder the implementation of BMI.
Another crucial step of this project will be to analyze the links among the individual components of a BM (e.g. value proposition, value capture, revenue model), and to examine how different activities and elements have to be (re)combined to result in a competitive BM.
The results of this research project will provide useful tools for managers and entrepreneurs to create and sustain their firm value, especially in times of today's unstable business environment. Thus, proposing practitioner-oriented tools and valuable recommendations for successfully managing the BMI process will be one of the project's main goals besides advancing the theoretical understanding of BMI.

Project results:

Keywords

Business model innovation Digitalization

Participating Institutions

Chair of Entrepreneurship and Strategic Management / Project Lead

Project Participants

Employee
Mag. Dr. Wolfgang Hora
- Principal Investigator
Principal Investigator
Employee
Prof. Dr. Alexander Zimmermann
- Professor
Professor

Publications

Broadening the Recognition Ecosystem in VET with Micro-Credentials

October 2022 until March 2025 (completed) Erasmus

Project Description

This project aims to facilitate the use of the three recent EU developments in the skills recogni-tion and accreditation systems, namely: i) micro-credentials (and specifically open accreditation systems like badges), ii) the multilingual classification of European Skills, Competences, Qualifi-cations and Occupations (ESCO) and iii) Europass, the European CV infrastructure The facilitation of accreditation processes takes place by connecting these three recent develop-ments to EURES, the European job market platform. The required middleware to produce digital credentials in the form of badges needs to be developed so the system can automatically con-nect skills to the Europass CV creation system. It will be much quicker and more efficientto pro-vide an overviewofa learners skillset with this proof of recognition in the Europass CV to demonstrate these achievements within the CV and to the marketplace. As partners represent-ing institutions in sectors where skills accreditation is of utmost importance, this development aids the transparency and effectiveness of issuing certifications, beneficial to various stakehold-ers. Knowing about the use of the created middleware through piloting and testing, the same also enables the reinforcement of career paths because of thevisibility of skills. The BREVET (Broadening the Recognition Ecosystem in VET with Micro-Credentials) project facil-itates work processes at various levels by employing a comprehensive and EU-wide language that aids the future workforce to showcase their skillset in the European marketplace and be-yond. This allows associated practices and ecosystems to improve their capacities as well, lead-ing to new services and opportunities that are not available or possible with non-digital creden-tials. This enhanced recognition system will bridge the gap between informal, non-formal and formal recognition, adding value to the entire VET sector and setting an example for other sec-tors. Furthermore, the work packages that relate to system design, software development, piloting and policy implementation requires collaboration at various levels. This is why thorough plan-ning and interlocking work processes are key components of the BREVET project that aims to build upon the strengths of existing micro-credentialing systemsand address their weaknesses. This procedure will allow designing the components of an ecosystem and exploiting the oppor-tunities of new practices and services based on digital credentials.

Participating Institutions

Information Systems & Business Process Management / Project Lead Medienstimmreich GmbH / Partner Ministere de l'education nationale de l'enfance et de la jeunesse / Partner Reconnaître - Open Recognition Alliance / Partner Web2Learn / Partner

Project Participants

Employee
Dr. Michael Gau
- Principal Investigator
Senior Scientist - Dean's Office Liechtenstein Business School
Principal Investigator
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Employee
Dr. rer. oec. Gregor Kipping
- Project Collaborator
Project Collaborator
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Publications

Breaking Bad: Parameter Uncertainty caused by Structural Breaks in Stocks

January 2022 until December 2022 (completed) FFF-Funding Project

Project Description

Estimating parameter inputs for portfolio optimization has been shown to be notoriously diffi-cult resulting in disappointing out-of-sample performance (Michaud, 1989; DeMiguel et al., 2009). The procedure of estimating parameters is further complicated by breaks and regime shifts in financial data caused by, for example, corporate actions such as mergers and acquisi-tions (Ang & Timmermann, 2012; Smith & Timmermann, 2021). These regime shifts ultimately result in parameter uncertainty, to which investors are averse (i.e. “ambiguity aversion”; Gar-lappi et al., 2007). On an aggregate market level, this ambiguity-aversion gives rise to a premium for parameter uncertainty as stocks with high (low) parameter uncertainty are avoided/sold (more attractive/bought). We propose a novel measure called break-(adjusted stock-) age that proxies for parameter uncertainty and is based on detecting structural breaks in stock returns using unsupervised machine learning techniques. Our measure reveals (i) that break age is priced significantly in the cross-section of stock returns and (ii) that break-age is a powerful proxy for parameter uncertainty.

Participating Institutions

Chair in Finance / Project Lead

Project Participants

Employee
Assoz. Prof. Dr. Sebastian Stöckl
- Principal Investigator
Associate Professor - Financial Economics Academic Director - Liechtenstein Undergraduate and Graduate School Official Representative AACSB - University of Liechtenstein
Principal Investigator
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Employee
Dr. rer. oec. Lukas Salcher
- Project Collaborator
Postdoc - Financial Economics
Project Collaborator
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Publications

BPM Online

October 2015 until October 2017 (completed) Erasmus

Project Description

Ziel des Projekts ist die Entwicklung eines europaweiten Konzepts für die Weiterbildung im Bereich Prozessmanagement. Als Antragsteller und leitender Projektpartner arbeitet das Team des Hilti Lehrstuhls für Business Process Management um Prof. Dr. Jan vom Brocke mit führenden europäischen Universitäten im Bereich Prozessmanagement in dem zweijährigen Projekt zusammen. Zu den Projektpartnern gehören die Copenhagen Business School in Dänemark, die Westfälische Wilhelms-Universität Münster in Deutschland, die Vrije Universiteit Amsterdam in den Niederlanden sowie die Wirtschaftsuniversität Wien in Österreich.

Keywords

Business Process Management Management Training e-learning (blended) Learning

Participating Institutions

Institute of Information Systems / Project Lead

Project Participants

Employee
Prof. Dr. Jan vom Brocke
- Principal Investigator
Visiting Professor - Information Systems and Process Science
Principal Investigator
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Employee
Prof. Dr. Theresa Schmiedel
- Project Coordinator
Project Coordinator
Employee
Dr. Bernd Schenk
- Project Collaborator
Senior Lecturer - Liechtenstein Business School Academic Director BSc in Business Administration - Liechtenstein Business School
Project Collaborator
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Employee
Dr. Nadine Székely
- Project Collaborator
Research Manager - Research Management
Project Collaborator
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Employee
Guido Forster MSc
- Project Collaborator
Project Collaborator

BPM and Organizational Theory: An Integrated Reference Curriculum Design

September 2019 until October 2021 (completed) Erasmus

Project Description

BPM is an important management discipline which is concerned with the analysis, design and improvement of business processes. So far, BPM has been mainly embracing prescriptive research, aiming to explain how BPM initiatives can be realized successfully. In this research project, we develop a descriptive view on BPM in order to account for the unfolding dynamics during the execution of business process work. The goal of this project is twofold. First, we establish an interdisciplinary perspective on business process work by integrating insights from the organizational studies and other process-related research fields. Second, we develop a curriculum for higher education that increases the awareness of future (process) managers about unexpected and unintended dynamics that can unfold in organizational work. This project is a collaboration between the University of Liechtenstein, Radboud University, the University of Cologne and the Vienna University of Economics and Business.

Participating Institutions

Hilti Chair of Business Process Management / Project Lead Wirtschaftsuniversität Wien<br /> Institut für Informationswirtschaft / Partner Universität zu Köln / Partner Radboud University (Stichting Katholieke Universiteit) / Partner

Project Participants

Employee
Prof. Dr. Thomas Grisold
- Principal Investigator
Principal Investigator

Publications

Born Globals: Entrepreneurial Strategies for Rapid Internationalization

September 2013 until June 2017 (completed) PhD-Thesis

Project Description

In times of ubiquitous globalization, more and more small entrepreneurial companies start their international activities very soon after their establishment. The term Born Global has established as the most common concept for this phenomenon and has caused the rapid growth of international entrepreneurship as a research field. Born Globals are defined as companies which start internationalization in a very early stage after their founding and generate a substantial proportion of their revenues in foreign markets. Traditional internalization approaches are not sufficient to explain the atypical pathway of these rapidly internationalizing ventures. Because of their often limited resources, the resource-based view becomes less important for Born Globals, and the focus turns instead on the mindset and the behaviour of the acting individual. Entrepreneurs of Born Globals have developed obviously special techniques and strategies to leverage innovativeness, knowledge, and capabilities to achieve considerable foreign market success early in their evolution. The research gap opens up by focusing on the peculiarity of the internationalizationprocess of Born Globals and their entrepreneurial strategies, which contribute to their successful internationalization.

Relevance to Liechtenstein

Das Fürstentum Liechtenstein gilt als "Blaupause" einer Volkswirtschaft mit einer besonders hohen Ausprägung in Entrepreneurship. Dabei sind es vor allem junge Unternehmen, die sehr rasch nach ihrer Gründung bereits global tätig sind. Die Erforschung dieses Phänomens verspricht neue Erkenntnisse, die dabei helfen können den Standort Liechtenstein auch zukünftig international erfolgreich zu positionieren und entscheidende Wettbewerbsvorteile nachhaltig zu stärken.

Keywords

Entrepreneurship Born Global Internationalization

Participating Institutions

Competence Center for Entrepreneurship and Family Business / Doctoral instiution

Project Participants

Employee
Prof. Dr. Dr. Sascha Kraus
- Supervisor
Supervisor
Employee
Dr. rer. oec. Felix Schüßler MSc
- PhD-Student
PhD-Student
Prof. Dr. Tina Claudia Ambos
- Co-Supervisor
Co-Supervisor

Born Globals: Entrepreneurial Strategies for Rapid Internationalization

September 2013 (completed) Preproposal PhD-Thesis

Project Description

In times of ubiquitous globalization, more and more small entrepreneurial companies start their international activities very soon after their establishment. The term born global has established as the most common concept for this phenomenon and has caused the rapid growth of international entrepreneurship as a research field. Born globals are defined as companies which start internationalization in a very early stage after their founding and generate a substantial proportion of their revenues in foreign markets. Traditional internalization approaches are not sufficient to explain the atypical pathway of these rapidly internationalizing ventures. Because of their often limited resources, the resource-based view becomes less important for born globals, and the focus turns instead on the mindset and the behaviour of the acting individual. Entrepreneurs of born globals have developed obviously special techniques and strategies to leverage innovativeness, knowledge, and capabilities to achieve considerable foreign market success early in their evolution. The research gap opens up by focusing on the peculiarity of the mechanism underlying the process of knowledge transfer in born globals and the entrepreneur's strategies to enhance the absorptive capacity.

Keywords

Entrepreneurship Born Global Internationalization

Project Participants

Employee
Prof. Dr. Dr. Sascha Kraus
- Supervisor
Supervisor
Employee
Dr. rer. oec. Felix Schüßler MSc
- PhD-Student
PhD-Student

Bodies of Knowledge:What empty buildings could be?

April 2022 until March 2026 FWF-Funding Project

Project Description

I started my journey through the observation that many buildings in Liechtenstein and its surround-ings get demolished. Due to social-economic reasons many buildings get replaced by newly construct-ed buildings. This predominant practice will be examined and questioned within the framework of the proposed research project. Vacant buildings are understood as inventories and as carrier of memories, stories and dreams. These buildings hold a large pool of social, cultural and architectonical resources which have hardly been explored in rural areas as Liechtenstein and its surroundings. Therefore, it is necessary to make locals and mainly the owners aware of the value of existing buildings and the quali-ties of emptiness.
From this I derive following research questions:
Where are vacant buildings located in the Alpine Rhine Valley?
How are they characterized and what are the stories and processes behind them?
What is the possible potential of vacant buildings from an architectural and spatial perspec-tive?
How can the potential of vacant buildings be communicated to local stakeholders?
The theoretical framework of this research project is oriented towards the Critical-Theoretic Art-making Model, where art is understood as a system of critical reflection to render invisible assump-tions, values, and norms in order to alter the status quo. The set of methods I plan to use is based on a holistic and circular research approach, which I have developed during my research activities. The process is divided into five phases: Explore - Investigate - Synthesise - Mediate - Reflect.
The aim of the proposed research project is to gain insights and to make vacant buildings and their stories visible as well as to make the data accessible through an online platform and travelling work-shops as mediation tools. This contributes to the public discourse and makes people aware of the phenomenon and the value of the existing built environment. On a scientific level a set of communica-tion tools will be developed, tested, and continually redesigned.

Participating Institutions

Institute of Architecture and Planning / Project Lead

Project Participants

Dr. sc. Anna-Lydia Capaul
- Project Manager
Project Manager
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