RSS 1.0Vlerick Repository
The Vlerick Repository is a searchable Open Access publication database, containing the complete archive of research output (articles, books, cases, doctoral dissertations,…) written by Vlerick faculty and researchers and preserved by the Vlerick Library.
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The prospective value creation potential of blockchain in business models: A Delphi studyBlockchain technology is gaining awareness and drawing attention in corporate practice and academia. Both fields expect a fundamental impact of blockchain on business and society. However, since blockchain research within the business model context is still in a nascent stage, more in-depth insights is required of blockchain’s impact on firms’ value creation and value capture. This study builds on a Delphi approach and aims to identify the future value creation potential of blockchain for organizations by 2030. Based on expert interviews, workshop insights, and prior literature, we developed a meaningful set of 36 projections of blockchain implications for business models. Our findings, based on the elements of the PEST framework, predict massive efficiency gains through technological progress and promise complementary offerings through various novel combination possibilities, novel forms of collaboration and business model opportunities, and a dissipation of the significance of blockchain types. The combined use of blockchain solutions with other technologies is likely to serve as the basis for ecosystem developments. Our projected finding is that the internet of value will replace the internet of information by 2030. Thereby, our research contributes to technological forecasting and strategic planning by providing managers clear indications of blockchain developments and action recommendations.
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New new, new old: Understanding individual and contextual influences on graduates' career choicesYoung graduates are the talent of the future and they will become an important group in organizations in the next decennial. Individuals’ career preferences and work values have shifted over time and, as a result, claims in literature posit that the traditional career will slowly fade away in order to make way for the modern career. In addition, strong contextual forces such as globalization, technology, organizational restructuring, and the growth of services have altered the way we look at careers and challenge what older generations have hitherto taken for granted. Research presented at this symposium will add substantially to the existing literature on what new cohorts of graduates expect from their future career and employer. Authored by scholars from eleven European countries, the papers included in this symposium integrate individual and contextual factors influencing graduates' career intentions across contexts.
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Five evolutions in individual career development and their consequences for organisational career managementIn a hybrid world, for many people work is a lot more than just a functional way of earning money. Professional careers have a strong symbolic function, providing us with a considerable part of our social identity and strongly influencing our self-esteem and overall happiness. Therefore, keeping employees engaged and committed by offering them challenging and rewarding careers is an important area of focus for many organisations and HR departments. However, as a reaction to changing economies, ways of working and organisational designs, the concept of a ‘career’ has changed tremendously. Careers are no longer a sequence of hierarchically ordered jobs, but rather a continually evolving gathering of work-related experiences for which every employee carries individual responsibility. As a consequence, career success is a highly-subjective measure and can only be reached when self-set goals and career values are respected. This white paper consists of two chapters. In the first chapter, we describe five main principles in individual career development that have evolved during the last couple of decades and that strongly impact contemporary career perceptions, leaving the field of careers with a broad spectrum of individual needs and preferences. The second chapter addresses the consequences of these changes for organisational career management and provides suggestions for Talent Managers on how to effectively respond to the evolving career landscape.
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Venture capital winners: A configurational approach to high venture capital-backed firm growthThe positive effect of venture capital (VC) on firm growth has been widely documented. However, there exists a large variation in growth, with only a small number of VC-backed firms reaching a substantial size. Prior studies have linked the variation in growth of VC-backed firms to differences in resource endowments of the entrepreneurial top management team, the firm or the venture capitalist, without considering their potentially complex interaction. In addition, the literature has taken strong growth aspirations in VC-backed firms as a given, without examining their potential variation, and its potential implications. Therefore, this study aims at examining which configurations of resource portfolios and growth aspirations lead to high VC-backed firm growth. In order to do so, it takes an inductive, theory-building approach, and builds upon fuzzy-set qualitative comparative analysis (fsQCA). Our results show that strong growth aspirations in the entrepreneurial top management team are a necessary condition for high VC-backed firm growth. Furthermore, we identify four configurations which, in combination with these aspirations, lead to high VC-backed firm growth.
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Distressed portfolio company exit and cross-border venture capital investorsDrawing upon an escalation of commitment framework, this study investigates how differences between cross-border and domestic venture capital investors in access to information, social and structural factors affect their decision to terminate an unsuccessful investment. We track the exit outcome of 1060 venture capital investments in 684 European technology companies. Results show that domestic investors have a high tendency to escalate their commitment to a failing course of action. In contrast, cross-border investors terminate their investments efficiently, even when investing through a local branch. This is explained by cross-border investors having more limited access to soft information, a lower social involvement with the project and a lower embeddedness in the local economic and social environment, which are all factors that contribute to lower escalation of commitment. Local branches of cross-border investors are further shielded from escalation of commitment through structural safeguards. Domestic investors may hence benefit from mimicking the behavior of cross-border investors.