Now showing items 21-40 of 6543

    • The issues that shape strategy

      Meeus, Leonardo (2020)
      Companies do not only compete in markets; they also compete on social and political issues. Depending on the business opportunities or threats they identify related to an issue, companies will behave as veterans that defend the status quo in an industry, as reformers that will work with the authorities to change the rules of the game, or as heroes that help solve an issue. In this article, we identify the typical elements of success for each of these three generic nonmarket strategies. We do this based on a framework that focuses on the framing of issues, the alliances that can be mobilized around an issue, and the arenas that can be used to make a move.
    • The issues that shape strategy

      Meeus, Leonardo (The European Business Review, 2021)
      Companies do not only compete in markets; they also compete on social and political issues. Depending on the business opportunities or threats they identify related to an issue, companies will behave as veterans that defend the status quo in an industry, as reformers that will work with the authorities to change the rules of the game, or as heroes that help solve an issue. In this article, we identify the typical elements of success for each of these three generic nonmarket strategies. We do this based on a framework that focuses on the framing of issues, the alliances that can be mobilized around an issue, and the arenas that can be used to make a move.
    • Training for the energy transition: Community learning at Florence School of Regulation

      Meeus, Leonardo; Glachant, Jean-Michel (2020)
      This chapter presents the value-add and next steps for European network codes and guidelines.
    • The future of EU electricity network codes

      Meeus, Leonardo; Nouicer, Athir; Reif, Valerie; Schittekatte, Tim (2020)
      This comprehensive book on the European energy transition has been written by more than 40 European leading energy- and climate experts. It reflects on the latest policy developments, as such as the Clean Energy for All Europeans Package, the Green Deal and the Climate Law.
    • Reliability options: Can they deliver on their promises?

      Bhagwata, Pradyumna C.; Meeus, Leonardo (The Electricity Journal, 2019)
      Capacity mechanisms have been controversial in theory as well as practice. Lessons from experience with different capacity mechanisms led to the development of the reliability options. This mechanism promises two advantages over other types of capacity mechanisms. Firstly, it ensures the availability of capacity contracted via the capacity mechanism during scarcity. Secondly, the reliability option mechanism limits any energy market distortion due to its implementation and provides the consumer a hedge from high prices. We assess the ability of reliability options in delivering the two promises by analysing the reliability option designs in Italy and Ireland. We find that they deliver on the first promise but only partly on the second.
    • Public procurement of innovationt through increased startup participation: The case of Digipolis (Research-in-progress)

      De Coninck, Ben; Viaene, Stijn; Leysen, J. (2018)
      Previous research has identified numerous obstacles that hinder the efficient procurement of innovation by the public sector. This paper introduces the case of Digipolis – the public ICT service provider of the City of Antwerp in Belgium. In 2015, the company implemented a comprehensive overhaul of its procurement strategy centered around 3 key components: a flexible procurement process, a community built around Digital Antwerp, and a challenge-oriented company culture. The case adopts a holistic perspective on the implementation of innovation procurement in a local public sector organization, and investigates the specific conditions and mechanisms that allowed to leverage the Antwerp startup community in order to increase the number of purchased innovative solutions. The case also sheds light on how public procurement of innovation can lead to knowledge-intensive entrepreneurship – an area that is still largely undiscovered.
    • Least-cost distribution network tariff design in theory and practice

      Schittekatte, Tim; Meeus, Leonardo (2018)
      In this paper a game-theoretical model with self-interest pursuing consumers is introduced to assess how to design a least-cost distribution tariff under two constraints that regulators typically face. The first constraint is related to difficulties regarding the implementation of cost-reflective tariffs. In practice, so-called cost-reflective tariffs are only a proxy for the actual cost driver(s) in distribution grids. The second constraint has to do with fairness. There is a fear that active consumers investing in distributed energy resources (DER) might benefit at the expense of passive consumers. We find that both constraints have a significant impact on the least-cost network tariff design, and the results depend on the state of the grid. If most of the grid investments still have to be made, passive and active consumers can both benefit from cost-reflective tariffs, while this is not the case for passive consumers if the costs are mostly sunk.
    • Reliability Options: Can they deliver on their promises?

      Bhagwat, Pradyumna; Meeus, Leonardo (2019)
      Capacity mechanisms have been controversial in theory as well as practice. Lessons from experience with different capacity mechanisms led to the development of the reliability options. This mechanism promises two advantages over other types of capacity mechanisms. Firstly, it ensures the availability of capacity contracted via the capacity mechanism during scarcity. Secondly, the reliability option mechanism limits any energy market distortion due to its implementation and provides the consumer a hedge from high prices. We assess the ability of reliability options in delivering the two promises by analysing the reliability option designs in Italy and Ireland. We find that they deliver on the first promise but only partly on the second.
    • Flexibility markets : Q&A with project pioneers

      Schittekatte, Tim; Meeus, Leonardo (2019)
      Flexibility markets are recognised as a promising tool to make better use of existing distribution grids and thereby also reduce the need for grid investments. In this paper, we analyse four pioneering projects implementing flexibility markets: Piclo Flex, Enera, GOPACS and NODES. Based on a literature review, we develop a six-question framework and we then analyse the projects with that framework. The questions are: (1) Is the flexibility market integrated in the existing sequence of EU electricity markets; (2) Is the flexibility market operator a third party; (3) Are there reservation payments; (4) Are the products standardised; (5) Is there TSO-DSO cooperation for the organisation of the flexibility market; (6) Is there DSO-DSO cooperation for the organisation of the flexibility market. We find that all the considered flexibility markets are operated by a third party. All projects also engage with multiple DSOs in order to become the standardised platform provider. Important differences between the projects are the extent to which the flexibility markets are integrated into other markets, the use of reservation payments, the use of standardised products and the way TSO-DSO cooperation has been implemented.
    • The welfare and price effects of sector coupling with power-to-gas

      Roach, Martin; Meeus, Leonardo (2019)
      Electricity markets with high installed capacities of Variable Renewable Energy Sources (VRES) experience periods of supply and demand mismatch, resulting in near-zero and even negative prices, or energy spilling due to surplus. The participation of emerging Power-to-X solutions in a sector coupling paradigm, such as Power-to-Gas (PTG), has been envisioned to provide a source of demand flexibility to the power sector and decarbonize the gas sector. We advance a long-run equilibrium model to study the PTG investment decision from the point of view of a perfectly competitive electricity and gas system where each sector’s market is cleared separately but coupled by PTG. Under scenarios combining PTG technology costs and electricity RES targets, we study whether or not there is a convergence in the optimal deployment of PTG capacity and what is the welfare distribution across both sectors. We observe that PTG can play an important price-setting role in the electricity market, but PTG revenues from arbitrage opportunities erodes as more PTG capacity is installed. We find that the electricity and gas sector have aligned incentives to cooperate around PTG, and instead find an issue of misaligned incentives related to the PTG actor. Although not the focus of our analysis, in some scenarios we find that the welfare optimal PTG capacity results in a loss for the PTG actor, which reveals some intuition that subsidizing PTG can make sense to reduce the cost of RES subsidies. A sensitivity analysis is conducted to contextualize these findings for system specificities.
    • An emergency health financing facility for the European Union. A proposal

      Ashby, Simon; Kolokas, Dimitrios; Veredas, David (2020)
      The unprecedented public health crisis caused by COVID-19 overstretched the structures and mechanisms of the European Union, in particular those that deal with emergencies. In order to be ready for the next health emergency, we propose the creation of the Emergency Health Financing Facility. In its broader version, this Facility integrates some of the existing EU emergencies structures and adds a new layer for the most extreme emergencies that does not increase the burden on public finances. This new layer essentially consists of securitizing health emergency risks in the form of fixed income securities that are sold to institutional investors. The Facility follows the growth of marketbased risk financing facilities across global and regional initiatives, led by the World Bank.
    • Reward taxation in Belgium. Practices, experiences and opinions

      Baeten, Xavier; Van Steerthem, Angie (2020)
      Companies are pressing for phasing out non-statutory benefits in combination with lower taxes on fixed and variable salaries Belgian companies are very dissatisfied with the fiscal and parafiscal levies on salaries. In particular, they are frustrated with the high taxation on fixed and variable salaries and the approach to taxation of the mobility budget. Only the taxation of supplementary pensions can count on any support. With a view to the future, many companies are arguing for extensive reforms, with as the basic principle a downscaling of the profusion of fiscal and parafiscal schemes for non-statutory benefits in combination with lower levies on the fundamental elements, and in particular, the fixed and variable salaries. These are the main findings of a detailed study on the taxation and social security of various remuneration tools by Vlerick Business School's Centre for Excellence in Strategic Rewards. As a result of the collaboration with the employers' organisations VBO and Voka, legal services provider Claeys & Engels, and HR services provider Hudson, no less than 293 companies participated in the study. The study covered three points, namely the satisfaction with the current income tax system, the obstacles companies are experiencing, and preferences for the future. One of the survey’s main findings is that only 6% of the companies are satisfied with general payroll taxes from both a fiscal and parafiscal point of view, regardless of the size of the company. The respondents’ main criticisms related to the high taxes and advance levies on cash (including holiday pay and end-of-year bonus) and variable remuneration. They also pointed out that there are too many different systems—no less than 35 for various non-statutory benefits. Moreover, there is a difference in treatment in indirect taxation (personal income tax and corporation tax) and social security. There were also many specific criticisms about the mobility budget, such as its complexity, the impossibility of including the mobility budget in an overarching approach of flexible rewards, the absence of some mobility instruments in the mobility budget, and the fact that this scheme is much less attractive if the company is not located in an area that is easily accessible by public transport. The study also looked at the tax treatment of 35 non-statutory benefits, examining how many companies are using them and how satisfied they are with them. The top 3 most commonly used and most appreciated benefits are company bicycles, hospitalisation insurance, and meal vouchers. At the other end of the spectrum, the researchers found that the schemes involving the reimbursement of contributions to the third pension pillar (known as pension savings schemes), share-related remuneration, private PC schemes, and intellectual property are used less and that the level of satisfaction with these is consistently below 50%. As regards the preferences for the future, there is a clear need for extensive reforms, as only 3% of respondents want to retain the current payroll taxes. However, they are aware that these reforms cannot be straightforward reductions, and they are prepared to drop the favourable tax regime of many non-statutory benefits in exchange for lower taxation of fixed and variable salaries. Furthermore, there are loud calls to allow employees to make extras contributions to their pension plans (e.g. from their variable salaries). This would be a type of second pillar ‘plus’, under favourable conditions, and in any case more favourable than under the current scheme. Finally, the participating companies are cautiously enthusiastic about the system of unlimited social security contributions combined with limited benefits.
    • What is the right price. 6 paths of value creation that can lead toward higher pricing

      Tackx, Koen (2019)
      Our research insights translated into added value for you and your organisation Research – either academic or research for business – can only be valuable when shared. That’s why we translate our research into easy-to-read whitepapers focusing on the key insights that are relevant for you as a manager. This way, your organisation can profit directly from the latest research, the newest theories, the expertise of our faculty and much more.
    • Acting with foresight in times of budget austerity

      Van Dyck, Walter; Schoonaert, Lies (2019)
      Horizon scanning is acknowledged to be one of the key components of a demand-driven healthcare system. We propose it to be a dynamic collaborative process driven by national unmet need matched with continued insight into the innovative pharmaceutical industry medicinal pipeline. Summer 2019 an international agreement was reached between payers to set up and commission an international horizon scanning initiative (IHSI), which is the international front-end of such a system. In this Policy Paper we propose a two-stage structure and organisation of the back-end national part of the horizon scanning process still to be implemented. This will lead to healthcare budgets managed with better foresight, a necessity in the face of breakthrough, some potentially curing therapies coming at a high cost. Taking the Belgian national component of the proposed horizon scanning system to implementation will require a pilot to be carried out. This to test the internal and external validity of the proposed design.
    • European scale-up report

      Collewaert, Veroniek; Manigart, Sophie; Standaert, Thomas (2020)
      Unique view of the landscape and management of European scale-ups The widely held belief that European scale-ups are mainly innovative tech companies is incorrect; they can be found in all sectors and at all levels of innovation. However we can identify major differences between sectors in terms of size and growth, with scale-ups that are active in IT and consumer goods and services leading the way. Scale-ups with external investors on board are more professionally managed and have made greater progress in terms of internationalisation, innovation and talent management. All the same, attracting additional funding proves very difficult and hampers their further growth ambitions. These are some of the conclusions of a large-scale study conducted by Vlerick Business School on behalf of Scale-Ups.eu. Professor Veroniek Collewaert, Professor Sophie Manigart and post-doctoral researcher Thomas Standaert used information about more than 80,000 scale-ups in 8 European countries as their starting point. They specifically investigated management practices by means of a targeted survey among 124 of these scale-ups.
    • Innovation and digitisation in the petrochemical supply chain. Digitisation as an enabler for a sustainable future

      Vereecke, Ann; Van den Bergh, Joachim; Cabos Rodriguez, Alejandra (2020)
      Following the 2018 workshop on the “Digitalisation in the Petrochemical Supply Chain”, EPCA partnered again with Vlerick Business School (VBS) to explore how digitisation can be an enabler for a sustainable petrochemical supply chain. By bringing to the table real case studies in an interactive workshop, highlighting how digitisation can minimise the ecological footprint of the supply chain, EPCA and VBS aimed to showcase cutting-edge solutions and to encourage the EPCA Supply Chain Community to embark on a digital transformation journey which will ultimately make their businesses more sustainable. The report summarises the lessons learned from desk research and from the interviews conducted by VBS researchers with experts in the field, in preparation for the workshop, as well as the conclusions from the roundtable discussions at the Digital Café.
    • The prospective value creation potential of blockchain in business models: A Delphi study

      Schlecht, Laura; Schneider, Sabrina; Buchwald, Arne (Technological Forecasting & Social Change, 2021)
      Blockchain 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.
    • New new, new old: Understanding individual and contextual influences on graduates' career choices

      Buyens, Dirk; Mayrhofer, Wolfgang; Andresen, Maike; Arnulf Ketil, Jan; Homberg, Fabian; Kalvina, Agita; Kieran, Sarah; Ludviga, Iveta; Vandenbroucke, Astrid (2020)
      Young 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.
    • Five evolutions in individual career development and their consequences for organisational career management

      Quataert, Sarah; Buyens, Dirk (2020)
      In 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.
    • Venture capital winners: A configurational approach to high venture capital-backed firm growth

      Manigart, Sophie; Standaert, Thomas; Knockaert, Mirjam (British Journal of Management, 2021)
      The 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.