Temporary business model innovation – SMEs’ innovation response to the Covid‐19 crisis
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ABSTRACT:
SUBMITTER: Clauss T
PROVIDER: S-EPMC8662028 | biostudies-literature |
REPOSITORIES: biostudies-literature
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Project description:In the current volatile business environment, companies are obliged to search for new ways of doing business to remain competitive. Accordingly, firms innovate their business model as it became a promising strategy to achieve sustainable outcomes. However, there is still a need for empirical studies that examine the relationship between business model innovation (BMI) and the performance of small and medium-sized enterprises (SMEs). In this study, we aimed to investigate this relationship by collecting data from 264 manufacturing SMEs through structured questionnaires. We employed partial least square structural equation modeling (PLS-SEM) to analyze the collected data and test the hypotheses. The results indicated that changes in any component of the business model, namely value creation, value proposition, or value capture, had a positive and significant relationship with the performance of manufacturing SMEs. Therefore, by innovating their business models, firms can create more value for their customers while capturing value for themselves. In conclusion, increasing use value or decreasing exchange value with customers will help firms create more value and surpass competitors in the marketplace, while also allowing them to capture more value for themselves.
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Project description:Utilizing the content analysis approach, this study analyzed 153 textual information sources to explore Chinese restaurant enterprises' innovative activities during and after COVID-19. An innovative crisis management model was synthesized from a micro-level perspective by adopting the life cycle model to dynamically measure the innovative strategies applied by Chinese restaurant enterprises in their emergency responses and recovery efforts. Two types of innovative activities that led to internal and external performances were identified based on the push and pull theory of business motivation. Findings further indicated five dimensions of innovative strategies at two different stages: pandemic prevention and control, government and community, corporate social responsibility, marketing response, and management response at the stage of emergency responses; and pandemic prevention and control, cooperation with third parties, customer service innovation, product innovation, and innovative marketing strategy at the stage of recovery efforts. Theoretical and empirical implications are also carefully discussed.
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Project description:The quarantine and disruption of non-essential activities as measure to contain the COVID-19 pandemic has negatively affected all economies around the World. This has had a deeper impact on small and medium enterprises (SMEs) in emerging economies because they have very limited resources and vulnerable supply chain and business-to-business/business-to-clients relationships. In this context, it is expected that after the pandemic many of these enterprises will disappear as the "new normality" will require changes in business and infrastructure management. To reduce this risk, innovation is identified as a key aspect of business recovery in the ongoing and post-COVID-19 pandemic period. This work presents a multidisciplinary methodological approach to guide these enterprises to innovate their products for new markets and making a better use of their limited available resources. As an example of this approach, the research-supported development of a new product for a family-owned SME was performed in a zone with high COVID-19 risk. The results provide insight regarding innovation as a survival tool for SMEs during and after the COVID-19 contingency, and the use of digital resources is identified as the main facilitator for networking and research-based design of innovative products within the "social distance" context.
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Project description:A virtual hospitalist program expanded our ability to confront the challenges of the COVID-19 crisis at the epicenter of the pandemic in New York City. In concert with on-site hospitalists and redeployed physicians, virtual hospitalists aimed to expand capacity while maintaining high-quality care and communication. The program addressed multiple challenges created by our first COVID-19 surge: high patient census and acuity; limitations of and due to personal protective equipment; increased communication needs due to visitor restrictions and the uncertain nature of the novel disease, and limitations to in-person work for some physicians. The program created a mechanism to train and support new hospitalists and provide and expand palliative care services. We describe how our virtual hospitalist program operated during our COVID-19 surge in April and May 2020 and reflect on potential roles of virtual hospitalists after the COVID-19 crisis passes.
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Project description:BackgroundThe coronavirus disease 2019 (COVID-19) pandemic has spread throughout more than 160 countries, infecting millions of people worldwide. To address this health emergency, countries have organized the flow of production and innovation to reduce the impact on health. This article shows the response of the Brazilian scientific community to meet the urgent needs of the public unified health system [SUS], aiming to guarantee universal access to an estimated population of 211 million. By December 2020, Brazil had recorded more than six million cases and approximately 175,000 deaths.MethodsWe collected data on research, development and innovation projects carried out by 114 public universities (plus Oswaldo Cruz Foundation [Fiocruz] and Butantan Institute), as reported on their websites. Additionally, we examined the studies on COVID-19 approved by the National Comission for Research Ethics, as well as those reported on the Ministry of Education website as of May 15, 2020.ResultsThe 789 identified projects were classified according to research categories as follows: development and innovation (n = 280), other types of projects (n = 226), epidemiologic research (n = 211), and basic research on disease mechanisms (n = 72). Most proposals focused on the development and innovation of personal protective equipment, medical devices, diagnostic tests, medicines and vaccines, which were rapidly identified as research priorities by the scientific community. Some promising results have been observed from phase III vaccine trials, one of which is conducted in partnership with Oxford University and another of which is performed with Sinovac Biotech. Both trials involve thousands of volunteers in their Brazilian arms and include technology transfer agreements with Fiocruz and the Butantan Institute, respectively. These vaccines proved to be safe and effective and were immediately licensed for emergency use. The provision of doses for the public health system, and vaccination, started on January 17, 2021.ConclusionsThe mobilized Brazilian scientific community has generated comprehensive research, development and innovation proposals to meet the most urgent needs. It is important to emphasize that this response was only possible due to decades of investment in research, development and innovation in Brazil. We need to reinforce and protect the Brazilian science, technology and innovation system from austerity policies that disregard health and knowledge as crucial investments for Brazilian society, in line with the constitutional right of universal health access and universal health coverage.
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Project description:The novel coronavirus has created one of the biggest social and economic challenges in recent decades. Since a critical issue in overcoming a large‐scale pandemic involves finding effective treatments for the disease, there is typically urgent pressure on the health‐care sector to develop innovations to combat the pandemic. Recently, scholars have argued that repurposing – that is, reusing an existing innovation in a different context – allows for such rapid innovation responses and can reduce costs, as the groundwork has already been laid. In this paper, we compare these benefits with the considerable disadvantages associated with innovation repurposing, including lowered barriers to entry, which can lead to declining average quality and duplicate work. Using data on 2,456 COVID‐19‐related clinical trials initiated between December 2019 and July 2020, we find that merely one‐third of the trials actually investigated drugs or vaccines, whereas the rest focused on diagnostics and crisis management issues. In the trials concerning drug testing, we find that drug repurposing is a predominant innovation strategy, but many trials tested the same (combination of) drugs. This indicates an inefficient use of resources and reductions in the average variety and novelty of clinical trials. Furthermore, the small percentage of biopharmaceutical firms involved in the search for COVID‐19 treatments raises the question of whether firms may have insufficient incentives to redirect innovation efforts to respond to the pandemic. Our paper contributes to crisis management research, the nascent debate on COVID‐19, and the emerging literature on innovation repurposing.
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Project description:Background: SMEs have made a major contribution to the national economy, but Pandemic covid-19 made the decline of SMEs which directly affected the economy in Indonesia. The purpose of this research focus to explore the innovation of business models the novelty of the research model in the business model of innovation research models is to include the variable self-efficacy. This research emphasizes self-efficacy and Islamic financial literacy as independent variables, business model innovation as an intermediate model and business performance variables as dependent variables, with the focus of research on SMEs. Methods: This quantitative study uses partial least square structural equation modeling (PLS-SEM) and a questionnaire survey to analyze the 40 Street Vendors which is categorized as SMEs around Unisba. In the initial stages, the Questionnaire was tested with the Validity and Reliability test. In the PLS-SEM analysis, the validity of the indicators / items forming latent variables is based on the significance value of t arithmetic obtained from the loading factor value divided by the standard error. After being collected, the data is then processed and analyzed. The analytical method used in this study is the simultaneous equation model, namely Partial Least Square (PLS). The statistical tool used to test the hypothesis is Smart PLS. Results: The results showed that self-efficacy and Islamic financial literacy through business model innovation, had a positive effect on SMEs business performance simultaneously or partially. Conclusion: So that by having good self-efficacy and good Islamic financial literacy plus an appropriate business innovation model, it will improve the business performance of SMEs.
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Project description:The aim of this study was to investigate the existence of collaboration-based business model innovation through an open innovation strategy among multigenerational-cohort SMEs in the context of the Thailand setting. This current research identified four key antecedents of open innovation based on resource and capability review. Open innovation is examined in two main strategies: (1) open innovation breadth and depth, and (2) open innovation cooperation. Using survey data from family-owned SMEs in Thailand, we estimate multigroup structural invariance models considering four generational cohorts by age: Generation Z, Generation Y, Generation X, and Baby Boomers. The empirical results indicated that family business owners are more likely to pay attention to innovative human capital and strategic agility among Generation Y and Baby Boomers. Meanwhile, Generation Z, Generation Y, and Baby Boomers tend to understand the importance of strategic agility before they strategize their breadth and depth of open innovation. To execute an open innovation strategy, Generation Z, Generation Y, and Generation X tend to implement a partner-search strategy and then do a cooperation plan. Our findings imply that business practitioners should understand the moderating role of generational cohorts due to their experience age. There are differences among Generation Z, Generation Y, and Generation X when participating in collaboration-based business model innovation using an open innovation strategy.
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Project description:The emergence and infusion of digital technologies bring greater chances for start-ups to conduct disruptive innovation through digital entrepreneurship. Despite the existed business practices, the happening mechanism of start-up's disruptive innovation in the digital economy context remains unclear. This study aims to understand the evolutionary mechanism and fulfillment path start-ups' disruptive innovation in the digital era. The longitudinal case study is conducted for a Chinese Internet start-up that successfully launched disruptive innovation under the digital economy background. Adopting a process perspective, this study analyzes the evolutionary phases of digital disruptive innovation. Moreover, this study identifies the digital technologies adoption, dynamic capabilities deployment, and business model innovation as the key pillars, and their interactions. Finally, this study induces and proposes its evolution mechanism and fulfillment path models. This study enriches the research scope of disruptive innovation and digital entrepreneurship. This study can offer theoretical guidance for the start-ups' disruptive innovation in the digital era, and practical implications for implementing a digital catching-up strategy.
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Project description:Temporary safety facilities (TSFs) are an essential support system providing necessary protection to workers during construction activities, which are targeted towards preventing the occurrence of incidents and accidents at the construction site; however, the schedule and location of installation and demolition of TSFs continue to rely on labor experience, and are often omitted from formal drawings or documents. This results in thousands of accidents in the construction industry, especially in construction small and medium-sized enterprises (SMEs) because of their several limiting factors; therefore, this study proposes automatic workspace planning for TSFs based on construction activities, which is a systematized approach for construction SMEs to practice occupational health and safety (OHS). By using building information modeling (BIM) and add-in algorithm, safety facilities can be simulated and visualized to integrate into the designated workspace. The developed system was implemented utilizing 4D-BIM for TSFs installation and validated with a case study on a residential building project. The result revealed that the visualized TSF produces a better understanding of safety measures with regard to project schedule. Additionally, TSFs workspace planning provides an affordable approach that motivates safety practices among the SMEs; consequently, the effectiveness of construction safety measures and their management is enhanced appreciably.
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