The repercussions and challenges of COVID-19 in the hotel industry: Potential strategies from a case study of Indonesia

The COVID-19 pandemic has hit the tourism and hospitality sector hard. Hotel managers face uncertainty in this environment in order to survive. This study explores the impact of COVID-19 on the hospitality industry, particularly hotels in Indonesia, one of the largest developing countries. It examines the challenges faced by hotel managers and the strategies used to survive. Through the lens of complexity theory, we discuss whether the strategies being deployed are beneficial, redundant, or detrimental for hospitality businesses. Based on semi-structured interviews with 13 hotel managers in Jakarta, Bandung, and Bali, the findings shed light on the various challenges to hotels. We also highlight which challenges could turn into opportunities. The findings show that the strategies that managers are deploying could be detrimental in the future. Potential future research directions are also discussed.     

The future of foresight professionals: Results from a global Delphi study

How will foresight practice evolve into the next decade and beyond? How might its supply and demand factors self-organize? In 2012 a real-time Delphi study, entitled, “The Certification of Professional Futurists 2030,” was conducted among 142 experts from 29 countries to debate the forces that might diminish or enhance futures work. The study consisted of 14 projections out to the year 2030, ranging from whether the global futures field might “employ a viable form of certification for professional futurists,” to whether it might “share a common accepted understanding of futures assumptions, theory, methods, knowledge, and ethics.” Panelists identified themselves with various futures associations. This article presents the findings, including where there is dissent and consensus in the futures field over the likelihood, impact and desirability of the professionalization of its practice. Further scale development using factor analysis, ordered by the theory of competitive advantage, produced a scenario model of three market forces: assimilation, academicisation, or certification. The third force of professional certification by 2030 was deemed least likely and less desirable. This wide ranging survey therefore offers the futures field a common conversation protocol to rethink how it might redesign its value chain and differentiate itself against other professions.     

石油金融：融合态势与中国发展战略

随着现代经济的发展,石油与金融的结合越来越紧,石油金融化趋势日益凸显。因此,为应对国际石油价格的未来走势,保障中国金融体系和中国经济的安全和长期稳定发展,中国迫切需要制定石油金融体系。新形势下中国石油金融体系构建的战略取向为：多层次构建石油交易市场体系;多渠道营造石油银行系统;多途径形成石油基金组合;多方位灵活运用石油外汇等。     

成功的市场进驻策略是决定市场地位的关键——宝洁公司在中国的市场进驻成功个案

美国宝洁公司在中国改革开放之际,敏锐地察觉到中国市场的巨大潜力,向中国日用品市场进驻。在多元品牌政策和差异性市场策略的总体策略指引下,宝洁公司充分考虑中国经济,政治,文化背景,以中国东西部经济差距,城乡消费者需求差异,中国消费者对传统文化的要求和可持续发展为基础,开发具有中国传统品味的高科技环保产品,建立特殊的分销体系,建立了在中国市场的首席地位。同时,宝洁公司以遵守中国法律,履行社会责任和道德准则为己任,与当地政府配合,协助开展文化和经济辅导活动,保护生态环境与自然资源,在消费者心目中建立了良好的企业形象,为进一步发展提供了有利基础,达到了双赢的目的。     

Acceleration effect of intangibles in the recovery of corporate performance after-crisis

This study explores the recovery in the Market Value Added (MVA) of European companies after the recent global economic crisis in 2008–2009. It introduces empirical evidence that intangible-intensive strategy in human and relational capital reinforces speed of the after-crisis correction for companies. Based on a panel dataset of more than 1600 listed corporations this research aims to discover drivers of Market Value Added trends in 2011–2013. The established results contribute to the understanding of the advantages that companies can exploit for the recovery after systematic shocks of markets. Our study demonstrates that intangible-intensive strategy not always enabled faster recovery speed. Meanwhile, it provided year-to-year acceleration of MVA growth after crisis.     

Technology fusion: Identification and analysis of the drivers of technology convergence using patent data

The concepts of technology convergence or technology fusion describe the phenomenon of technology overlap. Despite evidence of the higher value associated to interdisciplinary research and cross-industry innovation, few studies have investigated the characteristics of technology fusion based on patent data. This study identifies new cases of convergence relying on the International Patent Classification (IPC) of patents filed at the European Patent Office between 1991 and 2007: the first occurrence of a patent incorporating a combination of IPC subclasses signals a new instance of fusion. Duration models are employed to investigate the impact of field level characteristics derived from patent bibliometrics on the likelihood of identifying a new fusion. The results show that merges are more frequent if the focal technology fields are closely related (based on a higher number of cross citations), are characterized by wide technological scope, and are the result of an inter-firm collaboration. In contrast to previous findings, the results show that the more complex the technologies involved, the less the likelihood of their convergence or fusion. The correlation between fusion likelihood and the characteristics of the merging fields could help managers and policymakers to predict the emergence of new technology areas.     

Identifying new dimensions of business incubation: A multi-level analysis of Karolinska Institute's incubation system

Relying on an in-depth case study of the incubator related to the Swedish medical university Karolinska Institute's (KI), this paper identifies new analytical and strategic dimensions of incubation. Departing from the current literature's prevalent focus on incubators as organizations performing a predefined set of activities for incubatees (facility renting, coaching, training and connecting), we perform a multilevel analysis embracing, next to the organizational and the project-specific levels, also the broader institutional and inter-organizational level. Our analysis relies on seven key components of incubation, namely its time, place, sources, resources, control/governance, activities/services and outcomes. Further, we view incubators as strategic actors engaged in value creation on a broader arena than the strict incubation context, even an international arena, where incubators' choices and interactions can be analyzed with the help of concepts from various streams in the business strategy literature. The specific strategic drivers of business incubation that we identify in the KI incubator's case are six: positioning in the value chain, risk taking/time perspective, revenue model, governance/control, internationalization, and cooperation/competition. The paper concludes with managerial implications urging incubators to take more of a strategic perspective rather than focussing only on the established components of their operations.     

The effect of continuous improvement capacity on the relationship between of corporate social performance and business performance in maritime transport in Singapore

Drawing on organisational learning theory, this study argues that shipping firms with high continuous improvement capacities have better success in transforming corporate social performance (CSP) into business performance. Survey data were collected from 223 shipping firms in Singapore and analysed using multi-sampling analysis, hierarchical regression modelling, and simple slope analysis. The results support the study’s argument and show that business performance is maximised when continuous improvement programmes targeted at CSP are carried out at a gradual pace and at regular intervals. This implies that shipping firms should adopt a dynamic, value-driven approach to improving CSP.     

定向增发、资产注入与股市波动——股权分置改革后的股市脆弱性模型推导及其政策含义

股权分置改革的完成并不能消除上市公司大股东与中小股东之间的利益冲突。在全流通时期,大股东理性参与上市公司的定向增发、资产注入及其后的股份减持很可能诱致股市的过度波动。对这种股市过度波动所引致的股市脆弱性机理我们进行了模型推导和因子分析。分析表明,牛市中,大股东参与定向增发、资产注入会导致牛市的助涨。而当熊市来临时,大股东会停止资产注入并减持股份,进而起到熊市助跌的作用。针对由此引起的股市脆弱性,监管部门应采取相应的监管措施。     

On the Differential Effects of European Patents

Since the invention of the European Patent System, national patent systems have continued to co-exist, although they did lose appeal. How have the different national systems been affected in view of their characteristics? In order to answer this question a constant-market-share (CMS) analysis is carried out. While on a theoretical level, the different elements adding to the appeal of each patent system are discussed, the CMS-analysis reveals the importance of country size in that the national systems of smaller countries lose.