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Publication Duurzaamheid in ziekenhuizen: een sectorale dubbele materialiteitsanalyse - Onderzoeksresultaten (B-document)(2024) Van Haute, Ester; Cardoen, Brecht; Gemmel, Paul; Baeten, XavierPublication Great ways to explore career expectations(2024) Lison, Felien; Vandenbroucke, Astrid; Buyens, DirkIt is 2024. Fighting for and retaining top talent is still a hot topic. Companies must continually reinvent themselves and commit to good HR practices to retain their people and attract new ones. Why? Because job candidates and employees are currently setting the ship's course. Strategically managing human capital continues to be fundamental for proactively addressing the demands of an increasingly competitive talent landscape. Can organisations impact their retention rate? And can organisations match their offerings to the expectations of new talent? This is where Great Place To Work and Vlerick Business School have joined forces with the support of our media partners: Références, HTag, Nieuwe Media Group, and HR Magazine. The aim of this study is to assist HR practitioners in navigating how to respond to the rapidly changing needs en expectations of talent. For this study, we sought employees currently working in Belgian organisations. The questionnaire explores career expectations and intentions, as well as the importance Belgian employees attach to the promises made by current or prospective employers. Through this academic approach, we hope to inspire organisations to draft an effective employer branding strategy.Publication The career perspectives of graduates. Update 2023(2023) Legrand, Valérie; Van Gansbeke, Silke; Buyens, Dirk29% of master students and 57% of advanced master students indicate that they would like to set up their own business in the future. For their first job, though, they would prefer to work for an SME or a big company. Final-year students show a clear preference for businesses that have a quality label identifying them as good employers. Job security is not a priority. The students would rather work for a wide range of companies in the course of their careers, enabling them to continue developing their skills and knowledge in the long term. Last but not least, Generation Z students have very high expectations of their first employer. These are the most striking conclusions from the 11th edition of a major study among final-year higher education students into their expectations of their first employer and the labour market, as well as into their longer-term career plans. 472 students, of whom 268 were master students and 204 were taking an advanced master, took the survey in the spring of 2023. This survey, which is conducted every two years, was carried out by Professor Dirk Buyens and researchers Valérie Legrand and Silke Van Gansbeke from the Centre for Excellence in Strategic Talent Management at Vlerick Business School. Entrepreneurial ambitions on the rise 29% of master students and 57% of advanced master students indicate that they would like to set up their own business in the future. Starting out as an entrepreneur straight after graduation is less popular: only 10% of master students and 27% of advanced master students have such plans. Furthermore, there is a striking lack of interest in embarking on a career as a freelancer or contractor (less than 10%). The vast majority would prefer to start in a salaried position with an SME or a big company. Dirk Buyens, Professor of Human Resources Management at Vlerick Business School: “We have observed a growing desire among young people to become independent entrepreneurs one day, although there is a clear preference to gain a few years’ work experience in a salaried position first. A possible way for employers to cater to this trend might be to promote intrapreneurship within the company. That means that employers encourage a climate of entrepreneurship where young employees can develop their entrepreneurial ambitions for the benefit of the company as well as for themselves. This can be done by giving them plenty of freedom to try out new things and by offering them opportunities to grow within the organisation.” Quality labels for employers are worth their weight in gold Companies that have a quality label identifying them as good employers are in high demand among final-year students. 79% of respondents say they would rather apply to a company with an accredited label to show that its current employees experience it as a good employer. Additionally, 60% indicate that they would be more inclined to stay with such a company for longer. Dirk Buyens: “These ‘employer of choice’ labels are based on a systematic survey of the employees at the organisations concerned. In other words, companies that make long-term investments in creating a good working environment based on trust, credibility, respect, honesty and collegiality are at an advantage when it comes to attracting young talent from Gen Z.” Career security is more important than job security Only 43% of final-year students state that long-term job security is a priority for them. They clearly have a cosmopolitan vision of their careers: 69% expect that they will work for a wide range of different companies during their working lives. They see the relationship with their first employer as temporary, and 88% want a career that allows them to continue developing their skills and engage in lifelong learning. Only one in five is prepared to remain with the same employer for their entire career. 72% view their first job as a stepping stone to something better at a different company. Almost half (47%) are planning to stay with their first employer for no longer than three years. The economic context does play a role: Students who graduate during a recession report less economic optimism and a greater preference for job security than students who graduate during a period of economic growth. High expectations Gen Z have high expectations of their first employers. Their top priority is interaction with their colleagues and leaders: 94% hope to end up in a sociable environment with a positive atmosphere and 88% expect good, open communication with colleagues. They also attach great importance to an attractive salary and perks (85%), and to many opportunities for training and personal development (84%).Publication A close look at scope 3 emissions. What are companies reporting?(2022) Roméro Diaz, Nicolas; Veredas, DavidSince 2001, as a means of gauging a full picture of a company’s carbon footprint (see Figure 1 below), the Greenhouse Gas Protocol has divided greenhouse gas (GHG) emissions into 3 different Scopes. Scope 1 consists of GHG emissions generated during the course of the company’s main business operations (e.g., the emissions associated with a vehicle’s assembly line). Scope 2 emissions are the GHG emissions incurred by a firm through the purchase of the electricity required for its operation. Finally, Scope 3 emissions account for indirect emissions generated by suppliers, partners, and customers along a company’s value chain. This definition of Scope 3 emissions is intentionally broad, which means that it usually consists of more than 70% of a company’s total emissions profile. Despite the significance of this figure, Scope 3 emissions reporting is lagging far behind that of the other scopes. According to the WWF, this relative scarcity of Scope 3 reporting is due to several unique challenges that arise from the fact that, by design, Scope 3 emissions lie outside the direct management of a company’s leadership. This does not mean that companies have no influence over their Scope 3 emissions. In fact, these challenges represent a unique opportunity for businesses to engage with value chain partners, rethink their business operations, and streamline their emissions reporting methodology.Publication Cross-border mid-market M&A compass 2023(Vlerick Business School, 2024) Fehre, Kerstin; Hu, WanlinOn behalf of Moore Global Corporate Finance, Vlerick Business School has analysed more than 32,000 completed-confirmed deals in the year 2023 and compared that with data for the years 2019-2022. Almost 20,000 cross-border mid-market mergers and acquisitions have been sealed in the past five years as ambitious firms look beyond their own borders for growth opportunities. The results are revealed in the latest edition of The Moore Global Cross-border Mid-market M&A Compass, which analyses activity in this important part of the M&A market both in 2023 and stretching back to 2019. The Compass report is launched today by Moore Global Corporate Finance in partnership with Vlerick Business School and tracked more than 40,000 transactions announced in 2023. The main findings of the research were: Cross-border transactions systematically account for one-in-four of all M&A deals Average deal size in the cross-border mid-market has grown from €42.4 million in 2019 to €47.4 million in 2023 – a rise of 12% 62% of all cross-border M&A last year took place in the mid-market Four-out-of-ten cross-border deals in the mid-market involve acquirers from North America More than half of cross-border mid-market transactions were focused on the IT and healthcare sectors.Publication Psychology, phenomena and decision-making in a banking/insurance context (nudging insights)(2018) Van Paemel, Pieter; Goedertier, FrankPublication Changing behaviour via psychological phenomena: energy efficiency behaviour applications(2018) Van Paemel, Pieter; Goedertier, FrankPublication Integratierapport Research Project - Nudging onderzoek(2019) Van Paemel, Pieter; Batselé, A.; Goedertier, Frank; Briers, BarbaraPublication Accurately predicting earnings manipulation or accounting fraud instances using machine learning algorithms(2021) Heyvaert, Carl-Erik; Van der Schraelen, LennertPublication Towards an open innovation model in Belgian cities and municipalities(2019) De Coninck, Ben; Viaene, Stijn; Leysen, J.; Dumarey, N.Publication Rising star monitor 2019. A special focus on Venture Governance(2019) Subotic, Marjana; Collewaert, VeroniekThe Rising Star Monitor is part of the Entrepreneurship 2.0 initiative. Entrepreneurship 2.0 was launched by Vlerick Business School in collaboration with Deloitte Belgium to develop state-of-the-art knowledge about the key issues young, high-potential ventures struggle with. It also runs knowledge and community-building programs for entrepreneurs who are in the midst of tackling important scaling challenges with their ventures.Publication HR Barometer 2022. HRM trends and challenges in Belgian organisations(2022) Trbovic, Nikola; Volckaert, Ellen; Buyens, Dirk; Quataert, SarahPublication HR Barometer 2023. HRM trends and challenges in Belgian organisations(2023) Trbovic, Nikola; Volckaert, Ellen; Buyens, Dirk; Quataert, SarahRecruitment and selection continues to be the top priority for HR professionals in a very tight, competitive labour market, along with a stronger focus on current talent retention. At the same time, there is also an increasing push to prioritise diversity, equity, and inclusion (DEI). According to 78% of participants, while DEI is enshrined in their company’s mission statement, this very often is not reflected in the company’s strategy and only 36% have been allocated a separate, dedicated DEI budget. Concrete action is thus necessarily limited to ad hoc initiatives.Publication Publication Digital Business Ecosystem Development Playbook(2020) Van den Bergh, J.; Cumps, Bjorn; Viaene, StijnPublication The five keys to strategic flexibility - Five capabilities to thrive through turbulence(2021) Peeters, Carine; Arnst, BarbaraCompanies in many industries must deal with turbulent environments in which speed, disruptiveness, and the unpredictability of change threaten long-standing business models and recipes for success. And as the world digests the longer-term effects of the recent pandemic, we need to prepare for a new normal that will continue to be turbulent. That means learning to minimise the threats of turbulence, while shaping and grasping opportunities to derive new sources of competitive advantage. For many organisations, such strategic flexibility is not an easy endeavour. Strategic flexibility requires striking a balance between not changing enough – the well-known inertia trap – and changing too much, with the risk of losing focus or alienating the organisation in the process. As Professor of Strategy and Director of our Strategy in Action Platform, Carine Peeters has been conducting research on companies’ adaptive capabilities since 2008. Based on data on over 400 organisations across industries and geographies, our research shows that adaptive organisations achieve this balance thanks to a system of five key capabilities that they proactively build and nurture. They are not only aware of evolutions in their external environment but also understand the implications of these evolutions. They experiment with alternative courses of action and are not afraid to partner inside and outside to co-create solutions. They innovate at the same time as they exploit their core business; and they can decide and act in a timely manner. In this white paper, we share the findings of this research by taking you through the five adaptive capabilities, explaining what they are and discussing how organisations can foster them.Publication Naar een open innovatiemodel in Vlaamse steden en gemeenten(2019) De Coninck, Ben; Viaene, Stijn; Leysen, Jan; Dumarey, Nathalie; Vereniging van Vlaamse Steden en GemeentenSteden en gemeenten staan voor belangrijke uitdagingen. Ondanks budgettaire restricties, wordt in toenemende mate verwacht dat de publieke sector digitaal leiderschap neemt. Digitalisering wordt beschouwd als een belangrijk instrument voor een slimme overheid met een publieke dienstverlening die offline en online elementen naadloos integreert. Nieuwe digitale technologieën, zoals blockchain of artificiële intelligentie, bieden bovendien belangrijke opportuniteiten om de efficiëntie en responsiviteit van de overheid te verbeteren. Het uitbouwen van een digitaal getransformeerde overheid, die ook inzet op andere maatschappelijke thema’s zoals duurzaamheid, is een heuse uitdaging. “No matter who you are, most of the smartest people work for someone else.” –Bill Joy (Wet van Joy) Open innovatie kan een belangrijke katalysator zijn om de opportuniteiten van zulke transformaties in de overheid te verzilveren. Open innovatie start vanuit de erkenning dat innovatieve kennis wijdverspreid is in de samenleving, en verwijst naar het openen van de interne innovatieprocessen naar externe kennisbronnen. Door zich strategisch te positioneren in een innovatie-ecosysteem kan de overheid gebruik maken van kennis die buiten de organisatiegrenzen aanwezig is om haar maatschappelijke rol beter te volbrengen. Open innoveren verschuift de rol van overheden van probleemoplosser naar oplossingszoeker – eerder dan problemen te lijf te gaan met enkel de interne middelen, wordt een oplossing gezocht door gebruik te maken van innovatieve kennis die intern én extern aanwezig is. Het aanboren van zulke externe kennis omvat veelal een brede groep innovatieve actoren die in het verleden niet of weinig in contact kwamen met overheidsorganisaties, zoals startups, KMOs/MKBs, niet-gouvernementele organisaties en burgers. KEY TAKEAWAY: Belangrijke uitdagingen voor steden en gemeenten kunnen best worden aangegaan door externe innovatieve actoren te betrekken. Een ecosysteem-visie op innovatie laat toe om zowel interne als externe kennis in te zetten.Publication Fluvius research chair in resilient supply chains (2010-2020). Research carried out by the vlerick business school centre of excellence in supply chain management(Vlerick Business School, 2020) Samii, Behzad; Ümit, Hakan; Meyers, Kris; Li, Lingxin; Varganova, Olga; Andersen, Stephen; UCL; McKinsey (UK); BARCO (Germany); ENGIE; Ghent UniversityOur mission is the use of rigorous supply chain management research methods and smart meter data analytics to efficiently manage energy supply and proactively shape energy demand for a resilient energy supply chain. Our core research tracks included: * Impact of smart meters on the Eandis & Fluvius business model * Supply Chain Management approach to provision of smart gas and electricity meters * Design For Supply Chain in product development and employee training programs * Design For Supply Chain in the smart meter project * Creating value through new flow control mechanisms and data availabilityPublication Strategic behaviour in flexibility markets: New games and sequencing options(KU Leuven, 2021) Beckstedde, Ellen; Meeus, Leonardo; Delarue, Erik; KU Leuven Department of Mechanical Engineering; Florence School of RegulationDistribution system operators are expected to procure flexibility when it is cheaper than expanding their distribution grid. How to integrate these flexibility markets in the existing sequence of electricity markets is an important open issue in the evolution of electricity markets in Europe. In this paper, we investigate four market sequencing options: (1) the nodal wholesale market that includes network constraints(WNC); (2) the zonal wholesale market without network constraints followed by an integrated redispatch market to remedy the network congestion at transmission and distribution level created by the wholesale market in a coordinated way (WIR); (3) the zonal wholesale market followed by separate flexibility, redispatch and balancing markets in that order, which implies that congestion at distribution level is treated before congestion at transmission level (WFRB); and (4) the zonal wholesale market followed by separate redispatch, flexibility and balancing markets in that alternative order, which implies that congestion at transmission level is managed before congestion at distribution level (WRFB). We analyse how changing the market sequence can impact the strategic behaviour of flexibility providers, here represented by a Balancing responsible Party (BRP). We introduce a bi-level model in which the strategic BRP in the upper level acts as a first mover that anticipatesthe effect of its offers on the market outcome of the lower-level optimization problems. In analogy with the inc-dec game triggered by redispatch markets, we find that flexibility markets can trigger new games. These games will be difficult to detect by regulators as they can be performed by relatively small players. We observe that the WNC market design clearly outperforms the other sequencing options, but there is no clear second best among the alternatives WIR, WFRB, and WRFB.Publication Practice note: Copycat behavior by junior auditors – The impact of their senior’s working style and the role of promotion incentives(2020) Cardinaels, Eddy; Reusen, Evelien; Goris, Jeffrey; Stouthuysen, Kristof; Tilburg University and KU Leuven; Rotterdam School of Management (Erasmus University); KU LeuvenAs a key attribute to audit quality, regulators specify that more experienced staff (i.e. managers, senior auditors) should provide less experienced staff with appropriate coaching and on-the-job training (IAASB 2014). It is fairly common for junior auditors to start their auditing career by mimicking a more senior person who performs similar tasks; as the saying goes, “Monkey see, monkey do” (Cannon, 2016). Yet, while imitation is an inherent human tendency, limited evidence exists on the impact of such imitative behavior on the quality of an individual auditor’s judgment. The objective of our research project is to examine the extent to which mimicking behavior occurs in junior–senior auditor relationships and its consequences for audit quality. In particular, we advance the argument that this imitation tendency may lead junior auditors to follow seniors’ auditing practices, even when those practices are not always ideal. We also examine whether promotion opportunities for the junior can be an important contributor in mimicking an audit style of a senior (which in turn would affect audit quality). The tendency to imitate their senior – even though his working practices might not be ideal - might be higher when the direct senior has a strong voice in the promotion decision of the junior. The findings of this study are expected to provide valuable insights and r recommendations for practice