How artificial intelligence will affect the future of retailing

Artificial intelligence (AI) will substantially impact retailing. Building on past research and from interviews with senior managers, we examine how senior retailing managers should think about adopting AI, involving factors such as the extent to which an AI application is customer-facing, the amount of value creation, whether the AI application is online, and extent of ethics concerns. In addition, we highlight that the near-term impact of AI on retailing may not be as pronounced as the popular press might suggest, and also that AI is likely to be more effective if it focuses on augmenting (rather than replacing) managers’ judgments. Finally, while press coverage typically involves customer-facing AI applications, we highlight that a lot of value can be obtained by adopting non-customer-facing applications. Overall, we remain very optimistic as regards the impact of AI on retailing. Finally, we lay out a research agenda and also outline implications for practice.     

Examining artificial intelligence (AI) technologies in marketing via a global lens: Current trends and future research opportunities

Artificial intelligence (AI) has captured substantial interest from a wide array of marketing scholars in recent years. Our research contributes to this emerging domain by examining AI technologies in marketing via a global lens. Specifically, our lens focuses on three levels of analysis: country, company, and consumer. Our country-level analysis emphasizes the heterogeneity in economic inequality across countries due to the considerable economic resources necessary for AI adoption. Our company-level analysis focuses on glocalization because while the hardware that underlies these technologies may be global in nature, their application necessitates adaptation to local cultures. Our consumer-level analysis examines consumer ethics and privacy concerns, as AI technologies often collect, store and process a cornucopia of personal data across our globe. Through the prism of these three lenses, we focus on two important dimensions of AI technologies in marketing: (1) human–machine interaction and (2) automated analysis of text, audio, images, and video. We then explore the interaction between these two key dimensions of AI across our three-part global lens to develop a set of research questions for future marketing scholarship in this increasingly important domain.     

Forecasting unknown-unknowns by boosting the risk radar within the risk intelligent organisation

This theoretical perspective paper interprets (un)known-(un)known risk quadrants as being formed from both abstract and concrete risk knowledge. It shows that these quadrants are useful for categorising risk forecasting challenges against the levels of abstract and concrete risk knowledge that are typically available, as well as for measuring perceived levels of abstract and concrete risk knowledge available for forecasting in psychometric research. Drawing on cybersecurity risk examples, a case is made for refocusing risk management forecasting efforts towards changing unknown-unknowns into known-knowns. We propose that this be achieved by developing the ‘boosted risk radar’ as organisational practice, where suitably ‘risk intelligent’ managers gather ‘risk intelligence information’, such that the ‘risk intelligent organisation’ can purposefully co-develop both abstract and concrete risk forecasting knowledge. We also illustrate what this can entail in simple practical terms within organisations.     

Application of collective knowledge diffusion in a social network environment

ABSTRACT

We present a group dynamics model that shows knowledge integration as a process occurring over time. As each individual in the group contact others, his own knowledge changes, and over time the collective knowledge is obtained. This allows modeling knowledge diffusion in a social network and while the models presented in this paper are not competitive in that area, they approach the problem from previously unconsidered direction. We test the behavior of the model in a multi-agent simulation and we test a simple advertisement campaign in a social network. We provide discussion of elements needed for making model more competitive.     

跨国垄断在中国:现状、影响及规制

该文通过统计数据和案例分析认为跨国垄断已经在中国发生，并指出存在着两种不同类型的跨国垄断，即跨国企业整体垄断某个行业和单个跨国企业垄断整个行业；进而分析了两种不同形态的垄断对经济造成的不良影响。最后，探讨了如何防范和规制跨国垄断，认为防范跨国垄断要从多方面着手，除了最重要的竞争政策手段以外，还必须在反垄断法中加强对跨国垄断的规制。     

Bridging inter- and intra-firm boundaries: management of supplier involvement in automobile product development

Outsourcing has become an important strategy for many firms. Yet, firms need to compete with their competitors who also outsource and may share the same suppliers. This article explores how a firm could outperform others in managing the division of labor with a supplier in product development. Drawing on the empirical data collected from the Japanese auto industry, this paper shows that an automaker needs capabilities to coordinate various activities both externally with a supplier and internally within its own organization, in order to gain better component development performance. Overall, the results imply that outsourcing does not work effectively without extensive internal effort. Copyright © 2001 John Wiley & Sons, Ltd.     

Research notes and communications strategic planning as competitive advantage

Since 1970, over forty empirical studies have examined the performance consequences of formal strategic planning. This line of research has drawn heavy criticism from reviewers on methodological grounds, and has produced confusing, apparently contradictory results. This article reevaluates the planning-performance relationship from a resource perspective, arguing that strategic planning does not satisfy the criteria for sustainable competitive advantage– although it may produce economic value, it is easily imitated and may be substitutable. The article suggests that previous studies produced inconsistent results because they did not account for the dissemination of strategic planning over time, or for industry differences in strategic planning factor markets. An empirical test in two industries finds that formal strategic planning and financial performance are unrelated in a ‘planning equilibrium’ industry, but positively related in an industry with strategic planning factor market imperfections.     

Does an Industry Effect Exist for Initial Public Offerings?

We examine the impact of initial public offerings (IPOs) on rival firms and find that the valuation effects are insignificant. This insignificant reaction can be explained by offsetting information and competitive effects. Significant positive information effects are associated with IPOs in regulated industries and the first IPO in an industry following a period of dormancy. Significant negative competitive effects are associated with larger IPOs in competitive industries, those in relatively risky industries, those in high‐performing industries, and those in the technology sector. IPO firms that use the proceeds for debt repayment appear to represent a more significant competitive threat to rival firms relative to IPO firms that use their proceeds for other purposes.     

Does success diminish competitive responsiveness? Reconciling conflicting perspectives

Previous research provides conflicting evidence of the association between the past performance of a business and its competitive responsiveness, with researchers observing both positive and negative relationships. To clarify this issue, the authors test a model using survey data from the retailing industry. The model delineates direct and indirect mediated paths through ability to respond, motivation to respond, and awareness of competitors’ actions to show how past performance can have both positive and negative influence on competitive responsiveness. However, the overall impact of past performance of an organization on its competitive responsiveness is positive. The implications of these findings for research, practice, and theory are discussed. Satish Jayachandran (satish@moore.sc.edu) is an assistant professor of marketing in the Moore School of Business at the University of South Carolina. His research interests are focused on issues related to the market responsiveness of firms. His research has been published in theJournal of Marketing and theJournal of the Academy of Marketing Science. He was a recipient of the Harold H. Maynard Award for 2001 from theJournal of Marketing. He was nominated a young scholar by the Marketing Science Institute in 2003. Rajan Varadarajan (varadarajan@tamu.edu) is Distinguished Professor of Marketing and holder of the Ford Chair in marketing and e-commerce at Texas A & M University. His teaching and research interests are in the areas of strategy, international marketing, and e-commerce. His research on these topics has been published in theJournal of Marketing, theJournal of the Academy of Marketing Science, theAcademy of Management Journal, Strategic Management Journal, Sloan Management Review, California Management Review, Business Horizons, theJournal of Business Research, and other journals.     

Parallel sourcing and supplier performance in the Japanese automobile industry

Japanese auto makers are reported to enjoy high supplier performance through long-term relationships, specific investments, and sole sourcing. Quality management consultants in the U.S. have been strongly advocating adoption of these practices. But economic and management theorists would predict that the combination of a high level of relationship-specific investments and sole sourcing will lead to problems with supplier performance. In fact the Japanese auto makers use a hybrid form of organization we term parallel sourcing. We present a transaction costs model that shows how parallel sourcing provides incentives for supplier performance associated with multiple sourcing while preserving claimed benefits of sole sourcing.