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Entrepreneurship is vital to the self-understanding and international reputation of HHL Leipzig Graduate School of Management. Yet, the scope of how far-reaching startup activities stemming from it has not fully been depicted. This is what the HHL Entrepreneurship Report 2024 introduces - as the first comprehensive written overview of HHL's startup activities. The release of the report is in line with the introduction of a brand new entrepreneurial degree, which welcomed in fall its first students: our new Master in Entrepreneurship.
This report, which is the first of its kind at HHL, offers a comprehensive overview over HHL's activities to support aspiring and settled entrepeneurs - while also giving voice to and highlighting founders that have grown out of this far-reaching network. In focus of this report stand the startup journeys of the people in the HHL entrepreneurship ecosystem. The report captures all stages of the manifold experiences that founders and entrepreneurs in our network have made - from the initial idea to their startup creation and growth.
The startups emerging out of HHL strongly contribute to socio-economic problem solving in Leipzig, Saxony and beyond. In terms of output, HHL and its alumni perform outstandingly, with a high startup rate, four unicorns, and Stifterverband's #1 Founding University six times in a row. Their activities span many domains, with existing firms and big corporations also borrowing from them - concerning creativity, innovativeness, agility, speed, efficiency, demand-orientation, and costumer-orientation.
HHL is Germany's #1 university for founders. Entrepreneurship has been in the DNA of the university since its foundation in 1898. More than 530 startups - of which four are considered unicorn startups - have emerged out of the university's student and alumni network. HHL has grown its reputation as a valued cooperation and consulting partner due to its manifold expertise in entrepreneurship research, teaching, and transfer.
We hope that this report does not only inform, but also inspire you to incorporate just a little more startup spirit into your life. You are invited to reach out for collaboration - and become part of HHL's entrepreneurial ecosystem.
Grenzenlose Steuerberatung?
(2024)
Welcher vernünftige Berufstätige würde sich selbst als nicht integer beschreiben? Integrität hat in der aktuellen Managementliteratur Konjunktur. Dabei ist das Konzept der Integrität nicht neu. Schon Sokrates lehrte, dass das gute Leben eines ist, das „richtig“, sprich: integer, gelebt wird; und das hieß für ihn nicht zuletzt: im Einklang mit den Gesetzen. Er ging dafür sogar in den Tod.
Produktivität neu denken
(2024)
Der Begriff der Produktivität findet täglich Verwendung, um die eigene Leistung zu bewerten. Darin, so die These, zeigt sich ein problematisches Verhältnis zur eigenen Tätigkeit. Denn was bedeutet Produktivität? Die Autorin geht von dem antiken weiten Verständnis von Produktivität als generellem Wirkprinzip aus und zeigt, wie sich Vorstellungen in Bezug auf das, was als produktiv gilt, gewandelt haben. Heute dominiert das ökonomische Verständnis, das die Beziehung zwischen Input (hervorbringender Natur) und Output (hervorgebrachter Natur) quantifiziert. Produktiv ist der Mensch, wenn er viel schafft – und nicht, wenn er ‚sich hervorbringt‘. Die Autorin entwickelt einen neuen Produktivitätsbegriff, der die menschliche Fähigkeit zu produktiver Selbstwerdung ins Zentrum stellt. So entsteht auch ein neuer Blick auf (humanistisch) produktive Arbeit, der diese nicht an Effizienzmaximen, sondern der Beziehung des Subjekts zur Tätigkeit festmacht. Zugleich soll Systemproduktivität im Subjekt verwurzelt werden: Das (wirtschaftliche) System gilt nicht mehr als produktiv, wenn es kurzfristig Gewinne, sondern nur, wenn es langfristig Bedingungen für Individual(re)produktivität bereitstellt. Der Begriff der Produktivität wird so (wieder) als Vermittlungsbegriff fruchtbar gemacht.
The Agreement Theorem Aumann (1976 Ann. Stat. 4, 1236–1239. (doi:10.1214/aos/1176343654)) states that if two Bayesian agents start with a common prior, then they cannot have common knowledge that they hold different posterior probabilities of some underlying event of interest. In short, the two agents cannot ‘agree to disagree’. This result applies in the classical domain where classical probability theory applies. But in non-classical domains, such as the quantum world, classical probability theory does not apply. Inspired principally by their use in quantum mechanics, we employ signed probabilities to investigate the epistemics of the non-classical world. We find that here, too, it cannot be common knowledge that two agents assign different probabilities to an event of interest. However, in a non-classical domain, unlike the classical case, it can be common certainty that two agents assign different probabilities to an event of interest. Finally, in a non-classical domain, it cannot be common certainty that two agents assign different probabilities, if communication of their common certainty is possible—even if communication does not take place.
This article is part of the theme issue ‘Quantum contextuality, causality and freedom of choice’.
The use of analytical tools and disruptive technologies is a strategic imperative for companies to operate successfully in global markets. Wilo, a leading premium provider of pumps and pump systems, tasked Holger Jentsch, the Vice President (VP) of the Group Sales Excellence department, with piloting initial technological transformation projects in certain sales processes. As a lighthouse project, Jentsch aimed to use an artificial intelligence (AI) based analytics tool to prevent customer churn. Therefore, the case outlines critical success factors for the implementation of data-based decision-making which are elementary for Jentsch’s digital transformation project.
Purpose
Small businesses are facing evolving environments, with a resulting need to shift their traditional approaches toward new business models (BMs). Many face difficulties within this transition process due to their specific resource constraints. Based on this, incremental changes to the BM – business model transition (BMT) – are proposed as comprising a suitable framework for entrepreneurial small businesses.
Design/methodology/approach
This study conducts a systematic literature review (SLR) to cover a broad range of relevant literature within a final sample of 89 articles. The SLR method was chosen to integrate research in a systematic, transparent and reproducible way. For qualitative analysis and framework derivation, the study draws on a thematic ontological analysis.
Findings
The broad search criteria, focusing on BM, incremental BM changes and small businesses, pave the way for a comprehensive overview of multiple research streams of BM concepts (e.g. digital and sustainable BM). The main contribution of this work is the resulting holistic BMT framework, comprising the main parts BM innovation, external antecedents (transition of environment, entrepreneurial ecosystem), internal antecedents (dynamic capabilities, entrepreneurial orientation, resilience, strategy) and output (firm performance).
Practical implications
The framework provides guidance for entrepreneurs and entrepreneurial managers to implement and complete BMT in small businesses. Furthermore, the presented paper sets a future research agenda focusing on small businesses structured according to the derived framework.
Originality/value
This study provides the first SLR of existing BM concepts with a small-business specific perspective on BMI and a focus on various incremental BM changes.
The purpose of this review is integrating and contextualizing relevant literature on the factors influencing the adoption of AI in the healthcare industry into a comprehensive framework. Health systems are considered fundamental to creating societal value. However, global health systems are challenged by the increasing number of patients due to population aging and the growing prevalence of chronic diseases and cancer. Meanwhile, the United Nations calls for equal access to healthcare, tackling costs, and addressing resource constraints to foster the sustainable development of societies. In this context, artificial intelligence (AI) is gaining attention as it constitutes a promising technology to address these burgeoning challenges. Despite opportunities, the literature specifically on the adoption of AI in the healthcare industry is fragmented across various research fields, lacking a comprehensive overview. It lacks theoretically grounded research integrating, for example, the factors that influence the adoption of AI in healthcare institutions.
Derived from a multi-disciplinary systematic literature review, building on 130 studies, we propose the Adoption of AI in the Healthcare Industry Model. This model encompasses five dimensions influencing the adoption of AI in the healthcare industry and contextualizes them. We propose that macro-economic, regulatory, and technological readiness serve as external antecedents whereas organizational and individual readiness constitute internal antecedents influencing adoption of AI in healthcare institutions.
Our review has implications for research on technology acceptance related to AI in healthcare. Further, we provide hands-on guidance for AI providers, health institutions, and official bodies such as governments to foster the adoption of AI to leverage value.
Power and organizations
(2024)
In the last two decades, the call for fewer hierarchies and flat structures has increased tremendously as shown by the numbers of recent papers. Academics and practitioners continually discuss the perfect organizational type. Nevertheless, this discussion is nothing new; already in mid last century, researchers were analyzing softened hierarchies in organizations. Due to the long-standing and recently reignited debates and influences from various perspectives, the body of research is vast, highly fragmented, and distributed among different disciplines. By reviewing the field systematically, we have analyzed in depth the current state of research and thereby interrelate the power relationships between manager and employee with the organization type they work in. With the aid of this newly developed framework, we can show that most companies act in a hierarchical organization not a flat one. Additionally, we show that even in organizations typified by flat structures, hierarchies do nevertheless appear. This revelation supports earlier findings that where formal hierarchies decrease, informal hierarchies increase, but this is contrary to much of current business understanding. Our research contributes to academia by providing a long-needed, integrated framework for power relationships in different types of organizations on the basis of which future scholars can undertake further research.
Die Nachhaltigkeitsdiskussion hat in den letzten Jahren sowohl in der Politik als auch in der Gesellschaft deutlich an Bedeutung gewonnen. Ein dynamisches regulatorisches Umfeld bestärkt diesen Trend. Nicht nur die EU erhöht den Druck auf die Nachhaltigkeitsberichter- stattung mit der Verabschiedung der Corporate Sustainability Reporting Directive (CSRD) im Januar 2023 und den European Sustainability Reporting Standards (ESRS) im Juli 2023. Auch auf internationaler Ebene hat das International Sustainability Standards Board (ISSB) im Juli 2023 die Nachhaltigkeitsberichtsstandards IFRS S1 (Allgemeine Anforderungen an die Offenlegung nachhaltigkeitsbezogener Informationen) und IFRS S2 (Klimabezogene Angaben) veröffentlicht. Vor diesem Hintergrund stellt sich die Frage, wie die ATX-Prime-Unternehmen im Vergleich zu den DAX160-Unternehmen derzeit mit ihrer Nachhaltigkeitsberichterstattung aufgestellt sind.
Sustainability is playing an increasingly important role in analysts' assessments of companies. Companies can address this importance through a sustainability strategy by choosing between a sustainability strategy independent from the corporate strategy (standalone sustainability strategy) or integrating sustainability into their corporate strategy (integrated strategy). For this purpose, we investigate the effects of different stages of sustainability integration into the corporate strategy on analysts' perceptions and buy recommendations. Our results show that analysts favour an integrated strategy over a standalone sustainability strategy. This finding is reflected in higher analysts’ perceptions of an integrated strategy. While a standalone sustainability strategy leads to fewer buy recommendations, an integrated strategy does not affect buy recommendations. We discuss our findings in relation to stakeholder theory and voluntary disclosure theory. Our study contributes to understanding how analysts perceive different stages of integrating sustainability into the corporate strategy. This understanding is relevant as analysts work as intermediaries in the capital market between companies and investors.
Durch ChatGPT hat generative künstliche Intelligenz (KI) weltweit Aufmerksamkeit erlangt, da sie Texte erstellen kann, die von menschlichen Verfassern kaum zu unterscheiden sind. Obwohl die Entwicklung von generativer KI noch in den Anfängen steckt, wird erwartet, dass sich diese Technologie in vielen Bereichen und Funktionen des Unternehmens auswirken wird. So gibt es bereits erste vielversprechende Anwendungsmöglichkeiten in der Investor-Relations-Arbeit, die im folgenden Beitrag dargelegt werden.
Mit der erneuten Insolvenz von Galeria-Karstadt-Kaufhof fragen sich viele Städte, welche Auswirkungen eine mögliche Schließung „ihres“ Warenhauses auf die Innenstadt hat. Auf Basis von Daten vergangener Galeria-Karstadt-Kaufhof-Schließungen wagt dieser Beitrag wagt eine erste grobe Analyse der Auswirkung einer Warenhausschließung auf Besucherfrequenzen in der Innenstadt.
The importance of transforming business models and activities toward a sustainable economy is more urgent than ever and manifests in the adoption of international agreements and regulatory initiatives. Company transactions, including mergers and acquisitions (M&A), need to pay attention to sustainability concepts and their implications. Consequently, the current and traditional literature on M&A processes acknowledges the role of sustainability as a prerequisite for success in M&A operations. However, reviews of the relationship between sustainability and M&A from an integrative perspective that highlight the pre- and post-deal stages are limited. To bring further transparency to this context, we perform a systematic review of the academic literature on the relevance and implications of sustainability in M&A, focusing on archival studies. We present an overview of major sustainability influences at different stages of the M&A process, using the perspective of the acquirer as well as the target of sustainability. We observe that in all analyzed pre- and post-deal stages, sustainability is identified as having an impact or being impacted by M&A activities. Accordingly, practitioners’ strategic consideration of sustainability for deal origination and performance is required. Furthermore, we highlight several understudied factors and create a research agenda, as research findings are, to some extent, heterogeneous and limited.
Adbusting
(2024)
A subversive phenomenon is challenging advertisers and brand managers: adbusting, a form of activism that alters existing brand communication (e.g., a billboard ad) to promote social/political issues (e.g., pro-environmental behavior) or denounces the targeted brand (e.g., its labor standards). We conceptualize the effect of adbusting on consumers and provide empirical evidence that adbusting has ambiguous effects on consumers' brand perception. On the one hand, the incongruency of the message with consumers' existing brand schemata raises ad awareness. On the other hand, the effect of an adbust on subsequent cognitive and behavioral outcomes depends on the content of the adbust: if the brand itself is targeted (vs. a social or political issue), brand perception, word-of-mouth, and purchase intention are negatively affected. This negative effect is mitigated if the adbust targets a social/political issue. In a mixed-method design, we use a panel of real-world adbusts (Pilot Study) and four experimental studies (Studies 1–4) to shed light on these effects.
Purpose
Since the beginning of the 2000s, investors have more frequently invested into professional football clubs, thereby radically changing the industry landscape. This review's purpose is to analyze and synthesize the state of research to understand motives, roles and implications of football club investors, and to provide recommendations for further research.
Design/methodology/approach
The paper presents an integrative literature review by identifying relevant English articles based on the search terms investor, owner, investment, ownership, shareholder and stakeholder in combination with soccer or football. Around 2,431 articles were reviewed. A total of 129 relevant articles was analyzed and synthesized within eight subject areas.
Findings
Investors in professional club football is a young research stream with a clear European focus. Investor motives and roles are diverse and implications are multidimensional. Investors mostly aim for indirect returns rather than pure profit- or win-maximization.
Research limitations/implications
Football clubs comprise an own investment class for which the identified, unique specifics must be considered to develop a financially successful investment model. Thorough academic research of investors' inherent characteristics, investor-club pairings and the pillars of long-term strategies for successful investor-club liaisons are avenues of future research. Furthermore, the results illustrate the need for research outside of Europe.
Originality/value
The paper is the first systematic, integrative review of existing literature in the domain of equity investments into professional club football. The findings genuinely show that, depending on the investor type and ownership structure, investors have a wide impact in professional club football.
Past research showed how multinational enterprises (MNEs) create specific organizational structures to manage tensions in collaborations with competitors (i.e., coopetition). In this study, we explore how MNEs design their organizational structure to approach tensions specifically in the formation phase of coopetition. Formation is the first and arguably most difficult step in coopetition when tensions are particularly high. Based on an in-depth case study in the agrochemical industry, we find that MNEs create dedicated Coopetition Formation Teams (CFTs), moving within and between their firms to tackle a mix of four paradoxical tension types: performing tensions (conflicting goals), belonging tensions (incompatible values and beliefs), organizing tensions (dysfunctional processes), and learning tensions (conflicts between prior and new knowledge). Separated from the rest of their organization and equipped with unique capabilities to manage conflicts, CFTs combine the separation and integration principles to dynamically address these tensions. However, when paradoxical tensions persist and start to exacerbate, CFTs rely on conciliation by top management as a critical third principle to resolve conflicts. This study is the first to analyze the formation of coopetition between MNEs, proposing an integrated framework that connects the organizational design, the four paradoxical tension types, and the three principles to manage them.
Inspire responsibly
(2024)
Aspirational talk has gained increasing research attention as a compelling concept theoretically explaining the potential of talk-action discrepancies in corporate responsibility communication to instigate organizational change. Under certain conditions, aspirational talk can facilitate discourse, agreement, reframing, and corporate reflexivity. However, perceived talk-action discrepancies can negatively affect organizational members, leading to disengagement, and demotivation, causing emotional exhaustion, exposing employees to vulnerabilities, and even catalyzing unethical or illicit behaviors. Thus, this book focuses on how aspirational talk becomes irresponsible in an organizational context, and how it can be avoided. The author proposes that aspirational talk becomes irresponsible if it creates expectations that lead to illegitimate harm to employees or involved stakeholders. A framework is derived, constituting the finding that it takes two types of investments into performativity and responsibility conditions, to avoid the irresponsible use of aspirational talk – and thus, to inspire responsibly.
Creating value in football
(2024)
A new group of football investors has emerged to focus on direct financial returns, but little is known about their business activities and the strategies they employ for generating value. This paper aims to better understand these activities and unveil distinct value-creation strategies. Through 16 self-conducted and six publicly available interviews and documents, we analyzed 61 transactions involving 37 investors using the grounded theory methodology. Football investors follow four parallel micro-processes: horizoning, focusing, synchronizing, and creating value. Through these four microprocesses and their properties, they develop five distinctive strategies for value creation: Phoenix Strategy, (Cash) Cow Strategy, Gazelle Strategy, Ants Colony Strategy, and Eagle's Nest Strategy. The findings of this study contribute to conventional investment theory and help stakeholders guide their actions in light of the increasing presence of football investors who focus on direct financial returns.