Given the increasing importance of sustainability as a part of one’s daily routine and life in countries in the European Union, there is a need to establish a basic understanding of the attitudes, behaviours and culture among older people. This, in turn, should lead to better policies which help alleviate the effects of the current cost-of-living and energy crises and make our societies more sustainable and resilient. Despite the growing awareness of sustainability amongst the general public, a conceptual model of a sustainable lifestyle among older people is missing. The existing reports from the WHOprovide some guidance on how to move along, as they touch upon items that are related to sustainability such as walkability, proximity to transportation stops and emergency preparedness, and highlight the need to improve the fit between people’s needs and the environments in which they live. Any effort to come up with such a conceptual model would have to acknowledge that energy conservation and sustainable behaviours among our older population, as was shown by Bennetts et al., are not an integral part of all older people’s lifestyles and day-to-day choices. Also, following Dikken et al.,many seemingly sustainable choices may be made purely out of financial necessity. New models and policies would have to acknowledge that in times of declining purchase power, the majority of older people living on the edge make sacrifices in terms of energy use in the broadest sense of the word due to financial constraints and not out of concern for the environment.
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This paper seeks to contribute to sustainable business model innovation (SBMI) literature. It aims to do so by putting forward a relatively simple tool that simultaneously calculates the financial value alongside sustainability impact based on the Sustainable Development Goals (SDGs) of a proposed business model innovation. For small businesses to validate the outcome of a proposed SBMI, some form of sustainability measurement will be necessary. Simple tooling specifically aimed at small businesses do not exist. We address this gap in how to predict or create a prognosis of the combined financial and sustainability effect of a proposed business model (BM) in a frugal (easy, time and knowledge effective) and effectual (allowing for iterations, available means and calculating affordable loss) manner. The tool is called the Pos-FSBC (Positive Financial and Sustainability Business Case). The instrument is a calculation model in Excel where users insert a limited number of numerical variables. Alongside financial variables the tool uniquely links the key variable ∆ SDG to the expected quantity sold, it then calculates the contribution to the SDGs in a relevant and measurable unit. By being successful with a sustainable innovation, the tool helps businesses drive out nonsustainable competitors. The tool has been iteratively developed and tested in several students’ projects and in a pilot with practitioners. Based on the findings we propose more iterations to develop an understanding whether the tool inspires business change and if so how.
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Whitepaper: The use of AI is on the rise in the financial sector. Utilizing machine learning algorithms to make decisions and predictions based on the available data can be highly valuable. AI offers benefits to both financial service providers and its customers by improving service and reducing costs. Examples of AI use cases in the financial sector are: identity verification in client onboarding, transaction data analysis, fraud detection in claims management, anti-money laundering monitoring, price differentiation in car insurance, automated analysis of legal documents, and the processing of loan applications.
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Artificial Intelligence (AI) offers organizations unprecedented opportunities. However, one of the risks of using AI is that its outcomes and inner workings are not intelligible. In industries where trust is critical, such as healthcare and finance, explainable AI (XAI) is a necessity. However, the implementation of XAI is not straightforward, as it requires addressing both technical and social aspects. Previous studies on XAI primarily focused on either technical or social aspects and lacked a practical perspective. This study aims to empirically examine the XAI related aspects faced by developers, users, and managers of AI systems during the development process of the AI system. To this end, a multiple case study was conducted in two Dutch financial services companies using four use cases. Our findings reveal a wide range of aspects that must be considered during XAI implementation, which we grouped and integrated into a conceptual model. This model helps practitioners to make informed decisions when developing XAI. We argue that the diversity of aspects to consider necessitates an XAI “by design” approach, especially in high-risk use cases in industries where the stakes are high such as finance, public services, and healthcare. As such, the conceptual model offers a taxonomy for method engineering of XAI related methods, techniques, and tools.
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The shift towards a more sustainable circular economy will require innovations. While SMEs can contribute to this development, financing innovations within SMEs is difficult. Various authors have not ed moreover that the concept of the circular economy has further increased the complexity of investment decisions concerning sustainable innovations, due to the multiple value creation and new business models involved . On the other hand
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Dutch National Sports Organizations (NSFs) is currently experiencing financial pressures. Two indications for this are described in this paper i.e. increased competition in the sports sector and changes in subsidy division. Decreasing incomes from subsidies can be compensated with either increasing incomes from a commercial domain or increasing incomes from member contributions. This latter solution is gaining interest as a solution for the uncertainties. Many NSFs have therefore participated in a special marketing program in order to enlarge their marketing awareness and create a marketing strategy, in order to (re)win market share on the sports participation market and gain a more stable financial situation. This paper introduces my research related to the introduction of marketing techniques within NSFs and the change-over to become market oriented. An overview of existing literature about creating marketing strategies, their implementation, and market orientation is given. This outline makes obvious that the existing literature is not sufficient for studying the implementation of marketing techniques and market orientation within NSFs. Therefore, it shows the scientific relevance of my research. The paper concludes with the chosen research methodology.
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This research investigates the factors influencing the capital structure of 271 non-financial firms listed on the Korean Stock Exchange (KSE) over a broad period from 1995 to 2021, encompassing both stable and crisis conditions. Employing a dynamic panel data model and the generalized method of moments (GMM) estimation, we address the endogeneity issue introduced by the inclusion of lagged dependent variables. Our research integrates firm-specific internal factors with macroeconomic external variables to provide a comprehensive understanding of the influence of varying economic environments on capital structure. Our study suggests that in times of economic stability, the capital structure decisions of a firm are more influenced by internal factors such as profitability. However, in periods of economic downturns, it is the external macroeconomic market conditions that tend to have a greater impact on these decisions. It is also noteworthy that both book leverage (BL) and market leverage (ML) exhibit quicker adjustments during stable periods as opposed to periods of crisis. This indicates a higher agility of firms in adapting their capital structures in stable, normal conditions. Our findings contribute to the existing literature by offering a holistic view of capital structure determinants in Korean firms. They underscore the necessity of adaptable financial strategies that account for both internal dynamics and external economic conditions. This study fills a gap in current research, presenting new insights into the dynamics of capital structure in Korean firms and suggesting a multifaceted approach to understanding capital structure in diverse economic contexts.
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From the article : "Based on a review of recent literature, this paper addresses the question of how urban planners can steer urban environmental quality, given the fact that it ismultidimensional in character, is assessed largely in subjective terms and varies across time. A novel perspective of urban environmental quality is proposed, simultaneously exploring three questions that are at the core of planning and designing cities: ‘quality of what?’, ‘quality for whom?’ and ‘quality at what time?’. The dilemmas that urban planners face in answering these questions are illustrated using secondary material. This approach provides perspectives for action. Rather than further detailing the exact nature of urban quality, it calls for sustainable urban environmental quality planning that is integrated, participative and adaptive" ( wileyonlinelibrary.com ) DOI: 10.1002/eet.1759 - Preprint available for free download.
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The Procurement and Supply of hospital isolation gowns (IGs) pose significant challenges, including the potential for sudden increases in demand, the necessity of maintaining high-quality gowns, and the complexity of the supply process. One potential solution to these challenges is the investment in reusable IGs, which may seem financially infeasible due to their initial purchasing price. However, it can provide long-term financial and environmental benefits. In this research, a Simulation Optimization (SO) framework is utilized to model and analyze various product portfolio selection strategies, considering both financial and environmental perspectives, and to determine the optimal strategy for meeting both financial and environmental objectives. The proposed strategy is implemented to the problem based on obtained Life Cycle Assessment and market data.
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PURPOSE: The aim of this research is to link sustainability strategies with risk management. DESIGN/METHOD: 33 unique cases were used for the data analysis. Using the cases, the researchers built a database to operationalise the theoretical framework. This database contains data on general characteristics of an organisation, strategic characteristics (mission, vision, value proposition, core values from the Balanced Score Card categories, strategic goals), strategy characteristics of the sustainability strategies, the 17 sustainability goals of the UN, risks (strategic, financial, operational) and control measures appropriate to the risks. RESULTS/FINDINGS: The first sub-question: Which risks at a strategic, financial, and operational level differ in organisations that pursue SDG 3 Good health and wellbeing, SDG 8 Decent work and economic growth and/or SDG 12 Responsible consumption and production, or do not pursue sustainability goals? It can be answered that sustainable values lead to different risks at strategic and financial levels, but not on an operational level. The second sub-question: Which risks on a strategic, financial, and operational level differ in organisations that pursue the sustainability strategy (Retain product ownership, Product life extension and/or Design for recycling) or do not pursue a sustainability strategy? It can be answered in a similar way as the first research question: that apparently sustainable strategies lead to different risks at strategic and financial levels, but not on an operational level. Operational risks were found but did not change in case of the sustainable strategy. ORIGINALITY/VALUE: Researchers have investigated whether pursuing the sustainability strategy (part 1) or contributing to the achievement of SDGs (part 2) by an organisation causes a change in strategic, financial and/or operational risks. Patterns were sought, not the magnitude of a change, because of the number of cases examined.
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