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Purpose – The COVID-19 pandemic has had a significant impact on the food tourism industry, leading to business closures and a drop in demand. In response to this challenge, virtual food tourism experiences such as VR have emerged as an alternative to traditional in-person experiences. Aim of this paper is to model consumer adoption of virtual food tourism by integrating the Diffusion of Innovation Theory and the Self-determination Theory.
Methodology/Design/Approach – The Diffusion of Innovation Theory explains the process of innovation adoption, while the Self-determination Theory focuses on consumer motivation. This article proposes that intrinsic (autonomy, relatedness, and competence) and extrinsic (relative advantage, complexity, compatibility, trialability, and observability) motivating factors influence virtual food tourism adoption.
Findings – The study suggests that extrinsic motivators can act as mediators between intrinsic motivation and adoption intention. Integrating these two theories provides a comprehensive understanding of the motivations and mechanisms driving virtual food tourism adoption. It also paves the way for the exploration of intrinsic and extrinsic motivations and specific mechanisms underlying adoption behaviours.
Originality of the research – Destinations, businesses, and policy makers can better navigate the changing landscape of food tourism and leverage the potential of virtual food tourism to create engaging, accessible, and culturally enriching experiences.
Evolution of stock market efficiency in Europe: Evidence from measuring periods of inefficiency
(2024)
This study introduces novel measures to quantify periods of market inefficiency, enabling precise analysis of their evolution over time and effective comparisons across markets or groups of markets. These measures are applied to an extensive dataset comprising stock indices from 25 European countries from 2007 to 2022. The empirical findings reveal a 20% increase in market inefficiency across Europe, primarily driven by heightened average inefficiencies in the stock markets of the group of developed European countries such as Germany and the Scandinavian countries.
The concept of Circular Economy (CE) is becoming increasingly important in the pursuit of more sustainable societies. CE strategies are being applied in the sustainable management of a plethora of areas, such as energy, water, food and eco-industrial parks. The present paper focuses on the question of how CE principles can support the sustainable management of water in the agricultural sector around the world, considering different legislative environments, water resources management guidelines, environmental stressors, and CE practices. Considering these practices and circumstances, seven countries were compared: Brazil, Germany, Japan, Mexico, Morocco, Portugal, and Taiwan. Together, CE experts in the seven countries developed a set of 44 criteria to assess each of these areas. Broader establishment and respect of water resources legislation was found to be strongly correlated with lower agricultural water use. While the application of CE practices was found to not be correlated with lower consumption, this is still novel in most countries. Based on the studied countries, it can be concluded that a global CE agenda has not been reached for water resources. Further application and variety of practices is required to better represent the impact of CE on a national scale, but local success stories could support the wider application of CE in agriculture. The findings and the framework of the study can be applied to other countries in directing CE strategies for more sustainable water use in agriculture. Increasing CE implementation, motivated by legislation and better management can help ensure water security throughout nations.
The data presented here contain information on cheating behavior from experiments and general self-reported attitudes related to honesty-related social norms and trust, together with individual-level demographic variables. Our sample included 493 university students in five countries, namely, Germany, Vietnam, Taiwan, China, and Japan. The experiment was monetarily incentivized based on the performance on a matrix task. The participants also answered a survey questionnaire. The dataset is valuable for academic researchers in sociology, psychology, and economics who are interested in honesty, norms, and cultural differences.
Der Automobilhandel befindet sich in einer momentanen Phase des Umbruchs. Der Trend zum Kauferlebnis online, verstärkt durch die Pandemie, und die durch die Dieselproblematik entfachte Diskussion zum Emissionsausstoß und Fahrverboten für Verbrennungsmotoren im Fahrzeugbereich, treibt den Wandel zu elektrischen Antriebstechnologien an. Durch diese Umstellung ergeben sich neue Möglichkeiten für das Fahrzeug im Bereich der Digitalisierung. Die branchenübergreifende Digitalisierung findet sich auch in den neuen Vertriebssystemen der Automobilhersteller wieder. Hierbei ist zudem eine Veränderung der Absatzkanäle zu beobachten. Der Kunde weicht beim Autokauf davon ab, exklusiv zu dem Händler seines Vertrauens zu gehen und sich hier durch den gesamten Verkaufsprozess hinweg betreuen zu lassen. Vielmehr verschieben sich einzelne Teilbereiche in das Internet. So müssen etablierte Prozesse neugestaltet werden, um weiterhin im Markt und im Wettbewerb bestehen zu können.
Das Ziel dieser Arbeit ist die Beantwortung zweier Forschungsfragen. Zum einen soll der Status-Quo der Digitalisierung von Vertriebsinstrumenten im Autohaus untersucht werden. Konkret geht es dabei um die Frage, in welcher Art und Weise die Digitalisierung den Vertrieb beeinflusst und welche Effekte sich daraus ergeben. Zum anderen stellt sich die Frage wie die Digitalisierung in Form des Internets, als Absatzkanal für die Automobilindustrie geeignet ist, und ob derart komplexe Produkte wie ein Neufahrzeug über diesen Kanal abgesetzt werden können. Weiterhin soll betrachtet werden, welche Veränderungen in den Vertriebsstrukturen das beim stationären Autohändler verursacht.
Die Arbeit befasst sich ausschließlich mit der Digitalisierung bei Vertragshändlern mit Volumenzielen im Neuwagen-Bereich. Damit sind die Luxus- oder Premiummarken ausgeschlossen. Außerdem wird im Autohaus in zwei Kundenkategorien unterschieden. Es gibt die Großabnehmer und die Einzelkunden. Die Großabnehmer sind Unternehmen, die durch eine vordefinierte Anzahl an Mindestabnahmen einen besonderen Status und Konditionen genießen. Die Einzelkunden sind private Abnehmer oder gewerbliche Kunden, die die Mindestabnahme nicht erreichen. Die Arbeit beschränkt sich ausschließlich auf die Analyse und Auswirkungen der Veränderungen im Segment der Einzelkunden.
The future of German pharmacy business models with retail clinics as USP against online pharmacies
(2022)
Purpose: This study aims to discuss the chances of in-store pharmacies through in-store health services, e. g. vaccinations or Covid-19 tests, in Germany. As a result, retail clinics could lead to a USP against online pharmacies. Additionally, the study will show how possible retail clinics could look like and how the acceptance in the population is.
Research Methodology: To conduct the survey, Google Forms was used together with MS Excel for the analysis. Various studies were reviewed, and care was taken to work as closely as possible to practice and its figures from e. g. associations, companies, or statista.
Results: The launch of retail clinics could give German stationary pharmacies a new boost and differentiate them from online pharmacies on the market. Pharmaceutical services are in great demand among the population, hopefully, the legal framework will soon be in place, and the proper services will have to be offered to be able to fully generate the large sales potential.
Discussion and Conclusion: The study only points to a general overview of how health services can help store pharmacies in the competition with online pharmacies in Germany. Yet there are also other possible USPs for store pharmacies, which are not concluded in that study. In addition, the legal framework under which pharmacies operate must be analyzed in detail by legal experts to obtain a precise overview of what is possible for pharmacies in the area of pharmaceutical services and retail clinics. The study is useful for pharmacists, business economists in general as well as in health care management.
Implementation strategies of a modern showroom concept for retailers with a wide range of products
(2022)
This paper suggests a new business model based on modern technology for retail. In the age of digitalization, stationary retail is losing market shares to online retail. Therefore, there is an obvious need for change in businesses. The concept developed in this paper combines the strengths of online and stationary retail to benefit stationary retail. In the approach taken in this paper, the basis for change is modern technology. Finding innovative ways to use technologies like NFC, AI, and robotics is regarded as the key factor to sustainable success. As the implementation of modern technologies entails a particular investment, the customers’ opinion on structural changes like these has been included in the consideration. Therefore, a survey has been conducted to find out which level of innovation current customers are willing to accept thus emphasizing the need for certain changes and dissuading specific others. The result of this paper is the modern showroom concept which takes the customers’ opinion into account while implementing the right amount of technology that should pave the way to a sustainable future for stationary retail.
The objective of this study is to allow a better understanding of the role of industry 4.0 technologies, especially filament extrusion technology in the reduction of costs, environmental impact, energy consumption, and the possibility to expand the range of printable materials. The study focuses on the desktop Filament Extruders available in the market now, where these machines are assessed and future possible modifications for these apparatuses are presented. The research leading to the publication of this study consists of a review of the existing literature, in addition, information from different extruders manufacturers’ websites has been used. The study has demonstrated that the extrusion of material at home is still not an exact science, and the process ends up costing the user large sums of money over time. However, there are still limitations to the use of this technology such as the lack of standardized extrusion settings, the necessity of pre-drying the pellets, and the complexity of the extruder cleaning process after each use.
In 2019 at IBM, it was found that there is a strong dependence on a few large banks in bank sales, and the growth targets of the sales division cannot be achieved due to the existing business with these same customers. To counteract this dependency, an NCA-specific sales team for the banking industry was established to support small and medium-sized banks with personal commitment and expertise and to develop them into long-term business partners of IBM. This research focuses on the development of a performance measurement system for NCA-Sales teams. It postulates the hypothesis that more effective and better-suited performance measurement systems can be developed for NCA-Sales of information technology towards financial institutions. Authors use the methodology of expert interviews and Mayrings qualitative content analysis to gain insights into the relevant factors that need to be considered when evaluating the performance of such sales teams. The paper identifies stakeholders, challenges, and goals that should be integrated into a performance measurement system as well as KPIs to measure them. The results are being consolidated into a conceptual sketch for an NCA-sales optimized PMS. The paper distinguishes itself from other research through an approach that gives detailed guidance for the practical implementation of its findings. The research was conducted with professionals in the IT sector; however, all of them were working for the same company, and the data was collected in the short span of one week as it was part of a research. The outcome can be used for further studies on how to effectively measure performance in NCA-Sales teams.
Value-based controlling & international accounting
of Economic Value Added (EVA) – An overview
(2022)
This paper will discuss an important target variable in value-based management: the Economic Value Added (or EVA). EVA is a measure of a company's financial performance based on the residual wealth calculated by deducting its cost of capital from its operting profit, adjusted for taxes on a cash basis. EVA can also be referred to as economic profit, as it attempts to capture the true economic profit of a company. This measure was devised by management consulting firm Stern Value Management, originally incorporated as Stern Stewart & Co. This research will also discuss adjustments and different types of assumptions that are necessary for the calculation as well as how to use them properly to obtain an interpretable result. Paper will explain the formula and which conversions should be considered. It remains to be noted that the EVA concept only leads to small progress from a scientific point of view, but that the clever marketing by Stern & Stewart has initiated a renaissance of the underlying residual profit concept. The paper provides practitioners and academics with a good overview of the demonstrable added value of EVA controlling and, in contrast, also illustrates the weaknesses of the calculation model or the inaccuracy due to interpretation variables, which overall limit the value of EVA as a management key performance indicator. The research includes comprehensive and substantial discussion in the scientific literature on EVA and its interpretation.