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A research study on 18 start-up hubs in Europe. Affiliation and Publisher: PricewaterhouseCoopers
(2019)
Effects on Risk Taking Resulting from Limiting the Value at Risk or the Lower Partial Moment One
(1997)
On the Compatibility of Value at Risk, Other Risk Concepts, and Expected Utility Maximization
(1996)
In-depth analysis of customer journeys to broaden the understanding of customer behaviors and expectations in order to improve the customer experience is considered highly relevant in modern business practices. Recent studies predominantly focus on retrospective analysis of customer data, whereas more forward-directed concepts, namely predictions, are rarely addressed. Additionally, the integration of robotic process automation (RPA) to potentially increase the efficiency of customer journey analysis is not discussed in the current field of research. To fill this research gap, this paper introduces “customer journey mining”. Process mining techniques are applied to leverage digital customer data for accurate prediction of customer movements through individual journeys, creating valuable insights for improving the customer experience. Striving for improved efficiency, the potential interplay of RPA and customer journey mining is examined accordingly. The research methodology followed is based on a design science research process. An initially defined customer journey mining artifact is operationalized through an illustrative case study. This operationalization is achieved by analyzing a log file of an online travel agency functioning as an orientation for researchers and practitioners while also evaluating the initially defined framework. The data is used to train seven distinct prediction models to forecast the touchpoint a customer is most likely to visit next. Gradient-boosted trees yield the highest prediction accuracy with 43.1%. The findings further indicate technical suitability for RPA implementation, while financial viability is unlikely.
Virtual reality (VR) is starting to realize some of its promise as a tool to improve training effectiveness. However, research on VR for training and development is limited. Existing theories and models relating to organizational training and learning are infrequently used in the VR literature. A greater understanding of why VR works in the training context would help training designers create effective programs that leverage this continuously developing technology. This paper provides a typology of VR technologies specifically relevant to HR and integrates HR training frameworks and theory into findings on VR training from these other literatures. We specifically focus on immersive VR technology and seek to better understand reasons for the effectiveness of VR technologies for both training and assessment. We review findings, integrate related streams of research, and offer guideposts for those contemplating VR implementation in four important areas: training reactions in a VR context, VR-specific learning outcomes, opportunities for assessment using VR, and the effect of VR on training transfer. We conclude the paper by identifying a VR-training agenda for HR researchers.
European Union accounting harmonization: The case of leased assets in the United Kingdom and Germany
(1995)
Purpose
Procurement professionals widely use purchasing portfolio models to tailor purchasing strategies to different product groups’ needs. However, the application of these approaches in hospitals and the impact of a pandemic shock remain largely unknown. This paper aims to assess hospital purchasers’ procurement strategies during the COVID-19 pandemic, the effects of factor-market rivalry (FMR) on strategies and the effectiveness of purchasing portfolio categorizations in this situation.
Design/methodology/approach
This qualitative study of hospital purchasing in the Netherlands is supported by secondary data from official government publications. Semi-structured interviews were conducted with 13 hospital purchasers at large hospitals. An interpretative approach is used to analyze the interviews and present the results.
Findings
The findings reveal that product scarcity forces purchasers to treat them as (temporary) bottleneck items at the hospital level. The strategies adopted largely aligned with expected behavior based on Kraljic’s commodity management model. Adding the FMR perspective to the model helped to further cluster crisis strategies into meaningful categories. Besides inventory management, increasing supply, reducing demand and increasing resource coordination were the other common strategies. An important finding is that purchasers and governments serve as gatekeepers in channeling FMR, thereby reducing potential harmful competition between and within hospitals.
Social implications
The devastating experience of the COVID-19 pandemic is unveiling critical weaknesses of public health-care provision in times of crisis. This study assesses the strategies hospital purchasers apply to counteract shortages in the supply chain. The findings of this study emphasize the importance of gatekeepers in times of crisis and present strategies purchasers can take to assure the supply of resources.
Originality/value
No research has been conducted on purchasing portfolio models and FMR implications for hospitals during pandemics. Therefore, the authors offer several insights: increasing the supply risk creates temporary bottleneck strategies, letting purchasers adopt a short-term perspective and emphasizing the high mobility of commodities in the Kraljic commodity matrix. Additionally, despite more collaboration uncovered in other studies regarding COVID-19, strong rivalry arose at the beginning of the pandemic, leading to increased competition and less collaboration. Given such increased FMR, procurement managers and governments become important gatekeepers to balance resource allocation during pandemics both within and between hospitals.