Digital Ecosystems and Business Models: Smart Examples from the - - PDF document

Digital Ecosystems and Business Models: Smart Examples from the Smart Home Sector

WHY SHOULD YOU CARE?

Digital ecosystems are assuming dominating positions in every sector. Our research highlights the challenges of being part of someone else’s ecosystem and of competing in be- coming a digital ecosystem driver. An understanding of digital ecosystem structures and dynamics What to expect when being part of somebody else’s ecosystem The challenges in becoming a digital ecosystem driver

KEY TAKEAWAYS SPEAKER EXECUTIVE SUMMARY

Digital business ecosystems are beginning to dominate in many difgerent sectors. One by one, organisations new and old are strategically moving to obtain a dominant position as digital ecosystem drivers. Ecosystems are both a form of organising and a business model, and digital ecosystems drivers need to cater for both the organisational dynamics and the fjnancial dynamics

• f the organisational-business hybrid.

However, while digital business ecosystems are a new term, they are based on solid theory and will prove their value beyond the hype of the moment. The requirements for this to happen are, however, very high. Emergent ecosystems drivers need to cater for many difgerent interests and ensure their alignment. Estab- lished ecosystems drivers need always to remember that the fmexibility they have created in the market can turn against them at any moment. This talk will present examples of ecosystems from difgerent sectors and the dynamics to build such structures. It will then focus on the emergent market of smart homes as an example of dynamics that we can observe “in the making”.

SOURCES AND LINKS

Smart Home Project: mgmt.au.dk/smarthome Parker, G. G., Van Alstyne, M. W., & Choudary, S. P. (2016). Platform Revolution: How Networked Markets Are Transfor- ming the Economy and How to Make Them Work forYou. WW Norton & Company. Westerman, G., Bonnet, D., & McAfee, A. (2014). Leading digital: Turning technology into business transformation. Harvard Business Press. Back to Business - Ignite Your Global Potential 29 November 2018 Aarhus BSS, Aarhus University Andrea Carugati Professor, Aarhus BSS andrea@mgmt.au.dk

Amazon.com

was responsible for 44%

• f the total US e-commerce sales in 2017

Hilton

is the world’s most valuable hotel chain. The AirBnB market capitalisation is double that of Hilton

Apple

is the most valuable corporation in human history LEARN MORE ABOUT OUR RESEARCH: bss.au.dk/insights RESEARCH-BASED COMPETENCE AND LEADERSHIP DEVELOPMENT: bss.au.dk/evu

Kan du se dit netværkspotentiale for bare relationer?

HVORFOR ER DET VIGTIGT?

Samtidig med at alle skriger på mere videndeling, tværgående samarbejde og netværk, oplever den enkelte medarbejder at være overbelastet af information, møder og krav om tilgæn-

• gelighed. Det kræver indsigt i netværksteorierne og en stærk

ledelse at løse det dilemma, fordi der er brug for at forstå

• rganisationen, som den rent faktisk fungerer.

Ofte er organisationens netværk en del af problemet – ikke løsningen Netværk er din virksomheds skjulte ressource – få dem frem i lyset! At forstå din organisation som netværk er måske din vigtigste ledelsesopgave

HOVEDPOINTER

Christian Waldstrøm, Lektor, Aarhus BSS cwa@mgmt.au.dk

OPLÆGSHOLDER RESUMÉ

Alt for få virksomheder udnytter det potentiale, der ligger i deres virksomhedsnetværk. Det er mange år siden, vi blev klar over, at vores organisationer fungerer på alle mulige andre måder, end hvordan vi formelt har skåret dem til. Ved at bruge netværks- analyse til at undersøge, hvad der rent faktisk foregår, kan vi få svar på en række spørgsmål, som vi ellers ikke ville kunne: Hvorfor foretrækker nogle mennesker lukkede grupper og andre brobygningsrollen? Hvorfor ser man ofte specialister i udkanten af netværket? Hvorfor bliver vi mindre efgektive af for mange relationer? Og mere grundlæggende: Ved du egentlig, hvad der foregår i din egen virksomhed? Markedet for ledernetværk, networkingkurser og netværksfa- cilitering er kæmpestort i Danmark, men i praksis foregår det meste netværksarbejde i blinde. For ofte overses det, at noget af det vigtigste for en moderne leder er at forstå og understøtte de faktiske relationer mellem folk i organisationen. Vi bliver nødt til at forstå netværk som noget andet, end noget man går til, eller som ’networking’ – men derimod som en måde at arbejde ledelsesmæssigt med sin egen organisation og med de udfor- dringer, alle moderne virksomheder står i.

KILDER

Cross, R., Singer, J., Colella, S., Thomas, R. J., & Silverstone, Y.

• 2010. The Organizational Network Fieldbook. San Fransisco:

Jossey-Bass Henriksen, L. F. & Waldstrøm, C. 2016. Netværksanalyse

• En introduktion: Samfundslitteratur

Waldstrøm, C. 2007. Ledelse af Netværk - Virksomhedens Skjulte Ressource. København: Børsens Forlag Back to Business - Ignite Your Global Potential

• 29. november 2018

Aarhus BSS, Aarhus University

HVORDAN VILLE DU LEDE DENNE ORGANISATION?

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På vej mod sammenbrud? EU efter Brexit

HVORFOR ER DET VIGTIGT?

EUs fremtid og den retning, integrationen tager, er et kritisk emne for alle danske borgere og afgørende for dansk økonomi.

• f the fjrms are vigilant...

gerne letafkodet takaway grafjk -én info EU har udviklet en uformel krisestyringsmekanisme, som har leveret reformer Eurokrisen er ‘løst’, men der er stadig udfordringer på sigt Brexit er stadig meget usikkert, og det kan ende med, at at Storbritannien forbliver i EU

HOVEDPOINTER

Derek Beach, Professor, Aarhus BSS derek@ps.au.dk

OPLÆGSHOLDER RESUMÉ

Er EU ved at smuldre? Det er en udbredt opfattelse, at EU er ved at smuldre pga. kriserne (euro, immigration, Brexit)

• g den stigende populistiske modstand. Er der en risiko for,

at fmere lande forlader EU? Kan man forestille sig, at hele systemet kollapser? I dette keynote diskuteres, hvordan EU har håndteret kriserne. Svaret er, at EU har udviklet en efgektiv krisestyringsmekanisme, som kombinerer politisk lederskab fra statscheferne i det Europæiske Råd med tæt uformelt samarbejde i et kollaborativt netværk af højtstående EU- embedsmænd i ’maskinrummet’, som sørger for løsninger. Oplægget vil derefter fokusere på, hvordan EU i praksis har håndteret to kriser: eurokrisen og Brexit. Ift. eurokrisen har EU lavet vidtgående reformer, som har stabiliseret krisen, særligt

• mkring bankunionen. Ift. Brexit har EU i første omgang strakt

sig langt for at holde UK med i EU inden afstemningen. Af- stemningen og de efterfølgende forhandlinger har bragt de resterende EU-lande tættere sammen. Oplægget vil slutte med nogle bud på, hvad den kommende tid byder på for dansk erhvervsliv i forhold til eurokrisen og Brexit.

KILDER

Van Rompuy - State of the Union 2018 How the European Union falls apart af Hans Vollaard, LSE, 02.07.2018 Crisis and Cohesion in the European Union: A Ten-Year Re- view af Josef Janning, European Council on Foreign Rela- tions, 05.02.2018 Back to Business - Ignite Your Global Potential

• 29. november 2018

Aarhus BSS, Aarhus University

Det samlede resultat for afstemningen

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Born global internationalization strategy: high risk - high return?

WHY SHOULD YOU CARE?

Undoubtedly, internationalisation brings along a set of opportuni- ties for new businesses. Does that mean that all new ventures gain from internationalising? Does that mean that no matter the chosen internationalisation strategy, new ventures will equally gain from internationalising? The answer to these two questions is no; interna- tionalisation also brings its load of risks which may jeopardise the

• verall benefjt of internationalising. In that context, the specifjcs of

internationalisation strategy matter. Born globals perform better than other types of new ventures in terms of sales and job creation Adopting a born global strategy does not ensure survival on export markets Early internationalisation is detrimental for the survival of new ventures

KEY TAKEAWAYS

Eliane Choquette, Assistant professor, Aarhus BSS elianec@mgmt.au.dk

SPEAKER EXECUTIVE SUMMARY

Today, internationalisation is often seen as a must-have and an

• bvious route for new businesses to ensure their growth. Busi-

nesses that from inception have an international outlook and generate a signifjcant share of their turnover on international markets, i.e., Born Globals, are repeatedly glorifjed in public are-

• nas. The popular belief is that they are superior. Yet, what ensures

growth does not necessarily ensure survival. Moreover, entre- preneurs should bear in mind that internationalisation brings its load of risks. These risks can have harmful consequences for survival, especially for new businesses that simultaneously face challenges with establishing themselves. Entrepreneurs should therefore carefully think about the specifjcs of their business’ internationalisation strategy. Research shows that Born Globals are superior to other types of new businesses in terms of sales and job creation. When looking at the survival implication of new ventures’ internationalisation strategy, however, the picture is less positive: early and rapid internationalisation does not give new businesses a head start on export markets, and it challenges their ability to survive as independent businesses. This tells us that early and rapid internationalisation also puts extreme pressure on new businesses and their resources.

SOURCES AND LINKS

Choquette, E., Rask, M., Sala, D., & Schröder, P. (2017). Born Globals—Is there fjre behind the smoke? Interna- tional Business Review, 26(3), 448–460. Sui, S., & Baum, M. (2014). Internationalization strategy, fjrm resources and the survival of SMEs in the export market. Journal of International Business Studies, 45(7), 821–841. Back to Business - Ignite Your Global Potential 29 November 2018 Aarhus BSS, Aarhus University

Born Globals only represent 4% of new ventures within the manufacturing sector - in spite of the hype they gene- rate among politicians and academics.

4%

LEARN MORE ABOUT OUR RESEARCH: bss.au.dk/insights RESEARCH-BASED COMPETENCE AND LEADERSHIP DEVELOPMENT: bss.au.dk/evu

Make it your business: Engaging with the UN Sustainable Development Goals

WHY SHOULD YOU CARE?

In 2015, the United Nations presented a set of 17 global goals that among other things aim to unite efgorts to end all forms of poverty, fjght inequalities and tackle climate change. These goals are not only a reminder of the major challenges our pla- net and society face today but they also represent a catalyst for innovation and new market opportunities. The UN Sustainability Goals represent a broad set of market

• pportunities.

The UN Sustainable Development Goals can be a powerful framework for innovation, communication and partnerships that may contribute to ensuring the future success of your company. Large-scale companies are achieving their fjrst results now – do not wait any longer to engage.

KEY TAKEAWAYS

Franziska Günzel-Jensen Associate professor, Aarhus BSS frang@mgmt.au.dk

SPEAKER EXECUTIVE SUMMARY

The UN Sustainable Development Goals (SDGs) were approved by 193 UN member states in 2015 to set the global social and environmental responsible agenda until 2030. As such, the SDGs have the potential to function as guiding stars to inspire action at multiple levels for shared, global prosperity. In order to achieve the targets illustrated by the SDGs, new agents of change such as cities, civil society and especially businesses need to be mobilised. The latest research indicates that the SDGs do not only demand the participation of businesses but also ofger businesses a broad set of market opportunities. While large-scale companies start sizing these opportunities, small- and medium-sized companies are falling behind. It is time for small- and medium-sized com- panies to actively engage with and use the SDGs as a frame- work to (i) identify suitable business opportunities and (ii) create collaborative partnerships to pursue them. In order to successfully conquer the market opportunities presented by the SDGs, it is important for managers to be aware of the underlying pressures

• f pursuing social, environmental and business goals within the

company and engage in a process of selecting, connecting and intertwining the SDGs in their core activities.

SOURCES AND LINKS

AlphaBeta (2017): Valuing the SDG prize: Unlocking business

• pportunities to accelerate sustainable and inclusive growth.

Business and Sustainable Development Commission contri- buting paper. Available at: http://report. businesscommission.

• rg/.

Holliday, C. O., Schmidheiny, S., Watts, P. (2017): Walking the talk: The Business Case for Sustainable Development. Routledge. Back to Business - Ignite Your Global Potential 29 November 2018 Aarhus BSS, Aarhus University

The private sector

will be crucial to delivering the SDGs and it stands to benefjt from a potential

US$12 trillion

which could create almost

380 million jobs

worth of business opportunities by 2030 LEARN MORE ABOUT OUR RESEARCH: bss.au.dk/insights RESEARCH-BASED COMPETENCE AND LEADERSHIP DEVELOPMENT: bss.au.dk/evu

Why selling too many difgerent products is not good business - Multiproduct fjrms in the global economy

WHY SHOULD YOU CARE?

Because to enter foreign markets or to respond to com- petitors, fjrms must choose whether to focus on their core competence or expand the range of product types. Trade barriers reduce the number of product types Know your destination Beware of cannibalisation

KEY TAKEAWAYS

Luca Macedoni Assistant professor, Aarhus BSS lmacedoni@econ.au.dk

SPEAKER EXECUTIVE SUMMARY

Recent research in international trade has shown that multi- product fjrms dominate the global economy. But exporting, let alone dominating the global economy, is not an amateur

• sport. Several factors infmuence the earnings that exporters

gain from exporting the difgerent products in their portfolio. Costs of market access and shipping, which may prevent fjrms from exporting, reduce the profjtability of the difgerent products. Moreover, various characteristic of destinations, such as the level of development and the size of the market, drive the demand faced by exporters. Indeed, richer economies demand a difgerent set of product types than poorer econo-

• mies. Furthermore, when exporters introduce a new product

type in a destination, they have to balance the new earnings with the potential losses due to the cannibalisation of existing product types. New insights from research tell us that exporting the full range

• f products on your shelf is not good for business.

SOURCES AND LINKS

Lopresti, John, 2016. Multiproduct fjrms and product scope adjustment in trade. Journal of International Economics, Elsevier, Volume 100, Issue C, p160-173. Mayer, Thierry; Melitz, Marc J., and Gianmarco I. P. Ottavia- no, 2014. Market Size, Competition, and the Product Mix of

• Exporters. American Economic Review, Volume 104, Issue 2,

Pages 495-536. Macedoni, Luca, 2018. Large Multiproduct Exporters Across Rich and Poor Countries: Theory and Evidence. Back to Business - Ignite Your Global Potential 29 November 2018 Aarhus BSS, Aarhus University

• f Danish

manufacturing fjrms are multiproduct

50%

LEARN MORE ABOUT OUR RESEARCH: bss.au.dk/insights RESEARCH-BASED COMPETENCE AND LEADERSHIP DEVELOPMENT: bss.au.dk/evu

What can you learn from a behavioural approach to corporate governance?

WHY SHOULD YOU CARE?

Contemporary models of corporate governance rely on ideas about individual behaviour we know to be only half the story. The presentation focuses on why this is a major

• bstacle on the way to good governance and how it can

be overcome. Economic and legal perspectives have dominated contem- porary corporate governance through their idea of a ”homo

• economicus”

However, this economic man is incompatible with a full modern understanding of human behaviour New designs of corporate governance have to take into account that actors are infmuenced by their own experiences, biases, as well as their larger social environments

KEY TAKEAWAYS

Miriam Flickinger, Professor, Aarhus BSS mfmickinger@mgmt.au.dk

SPEAKER EXECUTIVE SUMMARY

Why does the predominant model of corporate governance insist

• n its basis in purely economic and legal perspectives? Nearly

all across the world, the system of rules, practices and processes by which a company is directed and controlled has moved little beyond the idea of a “homo oeconomicus”, that is, an individual who voluntarily and rationally pursues individual goals, guided by self-interest and personal risk preferences. We show you why such a corporate governance design is undersocialised and falls far behind a modern understanding of individual behaviour occurring in a larger social environment. Taking a more boundedly rational perspective on corporate governance and considering for individual and group-level socio-psychological mechanisms and biases results in a more realistic picture of the institutions, instruments and dynamics of corporate governance. However, once we stop assuming that actors in corporate governance behave as rational utilitymax- imizers, we must question whether current systems encourage and incentivise desired means and ends. The presentation shows examples of such misdirected behavior and ofgers suggestions for possible remedies.

SOURCES AND LINKS

Flickinger, M, Wrage, M, Tuschke, A & Bresser, R (2016). How CEOs protect themselves against dismissal: A social status per-

• spective. Strategic Management Journal. 37(6): 1107-1117.

Kahneman, D, Lovallo, D, & Sibony, O (2011). Before you make that big decision… Harvard Business Review 89(6): 50-60. Westphal, JD & Zajac EJ (2013). A behavioral theory of cor- porate governance: Explicating the mechanisms of socially situated and socially constituted agency. Academy of Man- agement Annals 7(1): 607-661. Back to Business - Ignite Your Global Potential 29 November 2018 Aarhus BSS, Aarhus University

Your company has been operating on the premise that people — customers, employees, managers — make logical decisions. It’s time to abandon that assumption.”

• Ariely, D. (2009). The end of rational economics.

Harvard Business Review 87(7/8): 78-84

“

LEARN MORE ABOUT OUR RESEARCH: bss.au.dk/insights RESEARCH-BASED COMPETENCE AND LEADERSHIP DEVELOPMENT: bss.au.dk/evu

Next Generation Internet: Blockchain, AI and IoT

WHY SHOULD YOU CARE?

The internet has had a massive impact on our life. It has trans- formed business, how we spend our free time, how we learn and what we know about each other. The internet does not stand still, but is evolving with every innovation and idea. The Next Generation Internet is ever present. Technology enablers cannot be seen in isolation anymore, they are linked to each other and to economics in societal models The big question for a human centric internet is to fjnd multi-stakeholder solutions that break existing power constella- tions, using both technology and policy Careful optimism is the right approach, as humanity is intrinsically linked to technology.

KEY TAKEAWAYS

Mirko Presser, Associate professor, Aarhus BSS mirko.presser@btech.au.dk

SPEAKER EXECUTIVE SUMMARY

The internet has had a massive impact on our life. It has trans- formed business, how we spend our free time, how we learn and what we know about each other. The Next Generation Internet is constantly evolving and your future business will rely on these changes. Since 1991, the number of internet users has grown exponen- tially, from a few million to several billion nowadays, making it a major economic driver. It is diffjcult to estimate the size of the internet market, but more importantly, the internet enables digital transformation in most sectors of the economy, thus challenging the business models of many traditional sectors. New technolo- gies and uses enabled by and also transforming the internet are constantly emerging and weaving into the fabric. The three key technology enablers today are the Internet of Things, Artifjcial Intelligence and Blockchain. But what does that mean for the Next Generation Internet? These technology en- ablers will on one hand strengthen economic and social activities and on the other hand reinforce existing power structures around the internet and in the worst case make common practices untenable.

SOURCES AND LINKS

An easy to understand publication for the Internet of Things https://iotcomicbook.org Do you need a blockchain? https://eprint.iacr.org/2017/375.pdf Next Generation Internet https://www.ngi.eu Back to Business - Ignite Your Global Potential 29 November 2018 Aarhus BSS, Aarhus University

There are over 5 million internet users in Denmark, but only about 4% use IPv6

4%

LEARN MORE ABOUT OUR RESEARCH: bss.au.dk/insights RESEARCH-BASED COMPETENCE AND LEADERSHIP DEVELOPMENT: bss.au.dk/evu

Forandring er den eneste konstante tilstand - udnyt mulighederne og bekæmp truslerne

HVORFOR ER DET VIGTIGT?

Vi taler ofte om disruption og globalisering som noget negativt. Men er det virkelig så farligt, og skal vi frygte ”this time is difge- rent”? Nej. Faktisk er det rigtig positivt for Danmark og dansk

• erhvervsliv. Men hvem er så vinderne, og hvem er taberne? Det

bliver du klogere på, samtidig med at du får inspiration til at ud- nytte mulighederne og undgå faldgruberne.

• f the fjrms are vigilant...

gerne letafkodet takaway grafjk -én info Kilden til vækst kommer altid fra teknologi og globalisering Danmark har tradition for at være godt rustet til at absorbere re- allokationspres udløst af disruptive forandringer og til at udnytte disse enorme kræfter Den aktuelle bølge af automatiseringsteknologier udløser betydelige forskydninger og reallokation i næsten alle jobtyper

• g alle brancher.

HOVEDPOINTER

Philipp Schröder, Professor, Aarhus BSS psc@econ.au.dk

OPLÆGSHOLDER RESUMÉ

Kombinationen af globalisering og teknologiske fremskridt driver vores velstand og levestandard. Indus- trien har et automatiseringspotentiale på op til 70 %. Ser- vicesektoren har kun et potentiale på 30-35%. Ser vi på hastigheden af forandringer, vil enkelte sektorer opleve disruption, men set som helhed tager implementering af det fulde automatiseringspotentiale 25-50 år. Danmark har altid været i stand til at absorbere de foran- dringer, som teknologi og internationalisering har bragt med sig. Tekstilindustrien i Danmark er eksemplarisk for denne tilpasningsevne. Agil tilpasning kræver to centrale faktorer: (i) velfungerende markeder, hvor enkelte spillere ikke kan dominere markedet og forhindre nye ideer og virksomheder i at konkurrere. (ii) samfundet og virksom- heder skal have den rette kompetenceprofjl. I fremtidens kompetencemix er ikke alt programmering

• g digital. Tværtimod vil ”humane” kernefærdigheder, så

som critical thinking, få en voksende betydning.

KILDER

A future that works: The impact of automati-

• n in Denmark. Joint report by McKinsey and

Aarhus BSS researchers (the Tuborg Research Centre), April 2017. econ.au.dk/fjnd Back to Business - Ignite Your Global Potential

• 29. november 2018

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40%

af den danske arbejdsstyrke kan automatises med den eksisterende teknologi Dette svarer til

1 million fuldtidsjobs

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Planning for Agility – A paradox?

WHY SHOULD YOU CARE?

Because when industries change, traditional management tools and decision-making frameworks fail.

• f the fjrms are vigilant...

gerne letafkodet takaway grafjk -én info Winning in fast-moving environments requires agility Agility is paradoxically built through systematically planning ahead Continuous trend monitoring and scenario planning need to be combined to create true and efgective strategic agility

KEY TAKEAWAYS

René Rohrbeck, Professor, Aarhus BSS rrohr@btech.au.dk

SPEAKER EXECUTIVE SUMMARY

Firms in fast moving environments, often act as if planning is unhelpful and might even breed failure. On a personal level, however, we would in situations where say our job position in

• ur organisation is jeopardized look into upgrading our training,

consider other career options and reach out to friends to ex- plore options outside our current organisations. This is good behavior to increase resilience and plant the seeds for future success. In organisations, the responsibility to prepare for the future is, however, often distributed and we often see the lack of clear mandate to explore entirely difgerent markets and business models. This often leads to fjrms embracing “agility” – translated as not taking far-reaching decisions and instead waiting and seeing, avoiding making the necessary invest- ments to succeed in the future. Our Strategic Foresight Research Network builds on more than 10 years of research, 450 benchmarking exercises and collabo- ration with over 50 top management teams.

SOURCES AND LINKS

Corporate Foresight Benchmarking Report 2018: How Lea- ding Firms Build a Superior Position in Markets of the Future, SSRN Electronic Jounal, May 2018 Corporate foresight and its impact on fjrm performance: A longitudinal analysis. ScienceDirect, Volume 129, April 2018, p105-116. futureorientation.net/category/publications/ Back to Business - Ignite Your Global Potential 29 November 2018 Aarhus BSS, Aarhus University

24%

• f all fjrms

are vigilant

LEARN MORE ABOUT OUR RESEARCH: bss.au.dk/insights RESEARCH-BASED COMPETENCE AND LEADERSHIP DEVELOPMENT: bss.au.dk/evu