The traditional role of a bank was to transfer funds from savers to investors, engaging in maturity transformation, screening for borrower risk and monitoring for borrower effort in doing so. A typical loan contract was set up along six simple dimensions: the amount, the interest rate, the expected credit risk (determining both the probability of default for the loan and the expected loss given default), the required collateral, the currency, and the lending technology. However, the modern banking industry today has a broad scope, offering a range of sophisticated financial products, a wider geography -- including exposure to countries with various currencies, regulation and monetary policy regimes -- and an increased reliance on financial innovation and technology. These new bank business models have had repercussions on the loan contract. In particular, the main components and risks of a loan contract can now be hedged on the market, by means of interest rate swaps, foreign exchange transactions, credit default swaps and securitization. Securitized loans can often be pledged as collateral, thus facilitating new lending. And the lending technology is evolving from one-to-one meetings between a loan officer and a borrower, at a bank branch, towards potentially disruptive technologies such as peer-to-peer lending, crowd funding or digital wallet services. This book studies the interaction between traditional and modern banking and the economic benefits and costs of this new financial ecosystem, by relying on recent empirical research in banking and finance and exploring the effects of increased financial sophistication on a particular dimension of the loan contract.

Marketplace complexity and dynamics create an environment that increases the uncertainty of innovation activities. In this context systematic management of innovation and product management are increasingly important for company success. This book presents the fundamentals of innovation and product management and introduces the reader to a holistic process model with particular focus on innovation and uncertainty. This integrated consideration of innovation management and product innovation within an interdisciplinary approach represents a unique characteristic of this book. The bookis designed to address the needs of managers who want a practical but well-researched guide to innovation and product management. Graduate and advanced undergraduate students would also find the chapters in this book particularly useful."

Based on economic knowledge and logical reasoning, this book proposes a solution to economic recessions and offers a route for societal change to end capitalism. The author starts with a brief review of the history of economics, and then questions and rejects the trend of recent decades that has seen econometrics replace economic theory. By reviewing the different schools of economic thought and by examining the limitations of existing theories to business cycles and economic growth, the author forms a new theory to explain cyclic economic growth. According to this theory, economic recessions result from innovation scarcity, which in turn results from the flawed design of the patent system. The author suggests a new design for the patent system and envisions that the new design would bring about large economic and societal changes. Under this new patent system, the synergy of the patent and capital markets would ensure that economic recessions could be avoided and that the economy would grow at the highest speed.

This book tackles the emerging smart urbanism to advance a new way of urban thinking and to explore a new design approach. It unravels several urban transformations in dualities: economic relationality and centrality, technological flattening and polarisation, and spatial division and fusion. These dualities are interdependent; concurrent, coexisting, and contradictory, they are jointly disrupting and reshaping many aspects of contemporary cities and spaces. The book draws on a suite of international studies, experiences, and observations, including case studies in Beijing, Singapore, and Boston, to reveal how these processes are impacting urban design, development, and policy approaches. The COVID-19 pandemic has accelerated many changes already in motion, and provides an extreme circumstance for reflecting on and imagining urban spaces. These analyses, thoughts, and visions inform an urban imaginary of smart design that incorporates change, flexibility, collaboration, and experimentation, which together forge a paradigm of urban thinking. This paradigm builds upon the modernist and postmodernist urban design traditions and extends them in new directions, responding to and anticipating a changing urban environment. The book proposes a smart design manifesto to stimulate thought, trigger debate, and, hopefully, influence a new generation of urban thinkers and smart designers. It will be of interest to scholars, students, and practitioners in the fields of urban design, planning, architecture, urban development, and urban studies.

The monograph The Paradigm of Social Interaction presents a paradigmatic synthesis in sociology. This is a reaction to the growing paradigmatic divisions in the discipline and an attempt at fostering the cumulative development of sociological knowledge. The suggested conceptual fusion includes micro-sociological interaction theories, recent theories of organizational interactions and the experience from the study on global trends. The intention is to support the building and explanatory application of middle-range theories in all action spheres and at all micro-, mezzo- and macro-social structural levels. The paradigmatic synthesis is developed around five analytical concepts of the determinants of social interactions: environmental, technological, economic, political and cultural complexes. Another conceptual framework fostering explanations consists of social actors, relations and processes as key parameters of the social interaction paradigm. The book also examines the COVID pandemic as a multidimensional crisis, applying the synthetic paradigm as a heuristic tool and knowledge-organizing framework. It is used in the studies on social innovations, societal transformations and global social trends as well. The book will be of interest to researchers, university teachers and doctoral and master's students in the fields of sociology, social theory, critical sociology, philosophy of social sciences, innovation and societal transformation studies.

* A contributed book featuring industry leaders and innovators from across the wide spectrum of settings. * Describes the promise and peril of complexity of mobile computing in medicine. * Defines mobile security and the impacts of 5G and Wi-Fi 6 on mobile wireless * Describes protocols ecosystem TCP/IP model (communication) compared to an OSI reference model. * Discusses overcoming culture, people, and governance challenges to solve for complexity of mobile computing including compliance and security in regulated industries.

This book examines the problem of the innovation divide in the world economy, and convergence in innovation performance between leaders and followers, analysed through the prism of Chinese experiences, and explored from an European Union (EU) perspective. The rationale for research conducted in this book is an observation of a significant change in the geography of world innovation, reflected in the emergence of innovation hubs in developing countries and in the shift of manufacturing activity, including high and medium-high technology industries, to emerging economies, mainly China. The book analyses the factors of Chinese innovation success in recent decades, such as: China's science, technology and innovation policy, increased R&D expenditures, human capital development and the development of clusters and highly specialized industries. It also focuses on the challenges for developed European economies, which are being at risk of losing their knowledge-related sources of competitive advantage. It also offers recommendations for future policy actions. The book's analysis goes beyond a cross-country comparison, taking into account a regional perspective. The reason for this regional dimension is the increasingly recognized importance of proximity in stimulating innovation processes, and an observed strong geographical polarization of innovation activity at specific regions seen in the emergence of clusters, particularly visible in China. The monograph will provide an up-to-date reference for academics and students across a variety of disciplines. It will be of particular interest to researchers in the area of innovation and practitioners doing business in China, as well as policymakers at international, national and regional levels involved in designing and implementing innovation policy.

This book provides a deep insight to which extent further improvement should be envisaged to ensure and improve the sustainable development beyond 2030 (the Sustainable Development Goals is a set of 17 global goals with 169 associated targets which the state community adopted in 2015). As the world, its environment, economy and society is getting more and more technical advanced, it is of high interest to analyze how space and its various applications can support this development. Once the Goals of the "2030 Agenda for Sustainable Development" will be achieved new challenges are waiting. The analysis takes into account a proactive use of artificial intelligence for the development based on space infrastructure. Another important aspect revolves around the economic development which asks for further analysis of the cryptocurrencies relationship with space applications and how to use space based cryptocurrencies for development. Environment-wise the challenges for a sustainable development on Earth i.e. water supply, but also in outer space are requested ensuring a sustainable exploration and exploitation of space and its orbital resources. The book also highlights possible contributions of the post-2030 space industry to global economic development based on satellite technology and the enlargement of the scope of application of satellite data in administration and Justice to ensure development of effective, accountable and transparent institutions at all levels to promote growth, stability and security and peace on global level.

This book examines how the emergence of new media brings brought challenges to the North American sport industry, discussing challenges in terms of a shift from an information economy to an attention economy perspective. Historically, the arrival of new forms of media, including radio and television, were not universally supported by sports leagues, wary of existing industry relationships with stakeholders, and new media have made the multi-sided market model of professional sports leagues - which has focused on protection and exploitation of league content - inefficient, and calls for a new model to integrate new media into the market. By integrating platform theory with the Service Dominant Logic (SDL) of marketing we describe how the multi-sided market of professional sports is evolving into a platform ecosystem, and the role of its most important customers - the fans - will also evolve from end users, to value co-creators, complementors and innovators. This book will create a new way of understanding the evolution of professional sports leagues and future growth of the industry, and lay the foundation for new research within the academic realm of sport management and sports marketing.

Davanti Nella Gara, an Italian bicycle company, makes the best racing bikes in the world. But after decades of market dominance, competitors have brought the industry leader back to the Peloton. The company's second-generation owner longs for retirement, but a tired product lineup is pushing down profits and the firm's market value will never support his ride into the sunset. The flawed but beloved owner seeks out the counsel of an old friend and successful businessman, who steers him toward a fast and remarkable transformation, one fueled by a relentless focus on innovation excellence. An engaging business novel, Winning Innovation dives into the art and science of innovation; the thrills of the European bike-racing circuit; the vibrant landscape and cuisine of Italy; and a cast of intriguing characters who work to put Davanti on the road to sustained prosperity. The company's leader isn't afraid to learn and apply new ideas to reenergize his company, and finds he cares more about his employees than he could ever imagine. A young innovator struggles to see a product idea to fruition as well as rise into management - and he falls in love along the way. A newly promoted R&D director brings teamwork and transparency to product development and aligns the entire company around innovation. With the help of a seasoned and persistent change agent, in just a year, Davanti deploys a well-defined and -sequenced transformation - a complete and seamless process that can be replicated and scaled by most companies. The leader engages associates in pursuit of the right vision and strategy, candidly supporting them all as they unleash their creative sparks, work through personality conflicts, and take on real-world challenges faced by companies every day. They learn and apply traditional R&D principles in new ways (e.g., cost of delay, sprints, fail fast, late start) and successfully leverage emerging innovation and change-management principles (e.g., idea-creation events, knowledge management, workplace humility, visual management, lean project management). And an aligned, three-phase innovation process - from idea creation to technology development and product design - provides the innovation infrastructure the company needs for revenue creation and success beyond racing bikes. From a top-heavy organization dominated by power struggles and finger-pointing emerges a new Davanti Nella Gara - a flattened, innovative company with: Clear vision and endorsed goals and strategy Speed, responsiveness, and agility Widespread, successful creativity Collaboration and teamwork Superior risk management Respect for people Unquestionable ethics Changed leadership and associate behaviors Project management excellence Rapid problem-solving and experimentation Not just the story of an R&D transformation, Winning Innovation illustrates a companywide transformation of a magnitude that only superior R&D can make possible. It may well be the first book to chronologically introduce the principles for a complete innovation excellence transformation along with the parallel people transformation that is necessary for real change to occur. The end result for Davanti Nella Gara is a dominant new culture based on respect and humility, highly efficient processes that will deliver a wealth of innovations, sales, and profits for many years to come, and an owner who leaves a bright future for the people and company he's known and loved his entire life.

This book explores a wide range of emerging cultural, heritage, and other tourism issues that will shape the future of hospitality and tourism research and practice in the digital and innovation era. It offers stimulating new perspectives in the fields of tourism, travel, hospitality, culture and heritage, leisure, and sports within the context of a knowledge society and smart economy. A central theme is the need to adopt a more holistic approach to tourism development that is aligned with principles of sustainability; at the same time, the book critically reassesses the common emphasis on innovation as a tool for growth-led and market-oriented development. In turn, fresh approaches to innovation practices underpinned by ethics and sustainability are encouraged, and opportunities for the exploration of new research avenues and projects on innovation in tourism are highlighted. Based on the proceedings of the Sixth International Conference of the International Association of Cultural and Digital Tourism (IACuDiT) and edited in collaboration with IACuDiT, the book will appeal to a broad readership encompassing academia, industry, government, and other organizations.

The study of universities' role in regional engagement has traditionally been focusing on exceptional cases. This book presents a reconceptualization which embraces its underlying complexity and proposes a roadmap for a renewed research agenda. Starting from the grassroots level of universities' "everyday" engagements, the book delves into the manifold ways in which university knowledge agents build connections with regional partners. Through 11 empirical chapters, the authors not only chart the diversity among case institutions, engagement mechanisms, and regional contexts but also use that diversity to advance a novel conceptual framework, centered on the process of mundaneness, for unpacking university-regions' everyday activities, taking into account the dynamic, complex, and co-evolving interplay between (a) key social agents and institutions, (b) the contexts in which they are embedded, as well as (c) the historical trajectories and strategic ambitions underpinning context-specific social arrangements and interactions that are mediated by temporal and spatial dimensions. Drawing on evolutionary economic geography, innovation studies, management and organization studies, and historical perspectives, the volume advances a new mode of understanding university-regional engagement as a form of extendable temporary coupling, which also helps to address perennial policy and managerial questions alike of what to do with universities that do not serve local labour market needs and/or are located in regions suffering from brain drain. The book illustrates such dynamics from diverse national contexts and three continents: Brazil, Caribbean, China, Italy, Norway, and Poland. This book will be valuable reading for advanced students, researchers, and policymakers working in economic geography, regional development, innovation, and higher education management. The Open Access version of this book, available at www.taylorfrancis.com, has been made available under a Creative Commons Attribution-Non Commercial-No Derivatives 4.0 license.

This book sets new trajectories for language-sensitive business and management research and pedagogy. The existence of language plurality characterises these. Empirical studies have been established as important and relevant for contemporary research. It has shifted language-sensitive research from the periphery to the centre of international management research. However, this field is rapidly changing, and new thematic approaches have begun to emerge. By addressing this, the book offers genuine and more nuanced insights into existing themes and comes with applications of emergent conceptual developments in different settings. The second part of the book covers methodologies and gives examples and cutting-edge insights into the role of translation in the execution of empirical research and theorising arising from it. Finally, the book draws together innovative ways of how to address the challenges of a multilingual teaching classroom and how to innovate in order to incorporate such diversity through pedagogic practice. This book provides a source that unites insights from multilingual empirical research, methodological considerations and pedagogic practice in order to advance knowledge and debate. It will be a 'handy source' of information that offers direct access to the latest guidance on language-sensitive management challenges. It will, therefore, appeal to an internationally-minded and mobile audience, including scholars, students and decision-makers.

This book introduces readers to cybersecurity and its impact on the realization of the Industry 4.0 vision. It covers the technological foundations of cybersecurity within the scope of the Industry 4.0 landscape and details the existing cybersecurity threats faced by Industry 4.0, as well as state-of-the-art solutions with regard to both academic research and practical implementations. Industry 4.0 and its associated technologies, such as the Industrial Internet of Things and cloud-based design and manufacturing systems are examined, along with their disruptive innovations. Further, the book analyzes how these phenomena capitalize on the economies of scale provided by the Internet. The book offers a valuable resource for practicing engineers and decision makers in industry, as well as researchers in the design and manufacturing communities and all those interested in Industry 4.0 and cybersecurity.

This book examines the role of corporate culture in the execution of successful strategies for diversity and innovation. It explores how information is communicated across real organizations and how diversity impacts the effectiveness of the communication. As modern communication becomes more challenging within diverse groups, the varying content and contexts must be considered. Communications across a diverse organization requires thought and understanding. Further, though a workforce may be diverse, it may not properly function. Effective and creative leadership is needed to employ a diverse workforce for the greatest impact on company culture and performance. With its model and case studies illustrating how diversity helps shape corporate culture, this book serves as a valuable resource for HR researchers and scholar-practitioners.

Unpredictable and unforeseen, or black swan, events are occurring increasingly often, one such recent example is the coronavirus crisis of 2020. The Fourth Industrial Revolution, with its growing use of artificial intelligence, intelligent robots, intelligent informats and intelligent algorithms, may help us to confront these incidents but only if we can avoid the sector optimization logic of some forms of economic thinking. This book offers a multi-faceted presentation of the application of systemic thinking in non-standard situations, especially those created by the fourth industrial revolution. It develops models and mini theories to promote systemic thinking at a time when cascades of innovations are entering the economy, while at the same time black swan events are occurring and disrupting social systems. It takes a critical look at how organizations and social systems have chosen to organize themselves to develop systems that prioritize high performance, by focusing on cost-cutting and maximizing profits, instead of on preparedness elasticity and resource slack. The consequences of this kind of organizational streamlining becomes evident only when the 'black swans' loom. The author discusses how individuals and society can develop the resilience needed to deal with these incidents. He asserts that there are three central social mechanisms that can help us understand how social systems work and how they are interconnected: time-lag, threshold value, and feedback. These three concepts can help us to understand how changes occur in non-linear systems; for instance, how small changes at the micro level can lead to large changes at the macro level. This book will be of interest to researchers, academics and students in the fields of economics, finance, business and industry.

The second title in the Palgrave Studies in Global Human Capital Management series, this book explores how human capital contributes to innovation within the context of an inter-connected and globalized world. Investigating globalization as a phenomenon reflected within increasing cross-border flows of goods, services, know-how and talent, Human Capital and Innovation: Examining the Role of Globalization illustrates various facets of innovation at individual, team and organizational level. It highlights the influence of new economic realities, such as technological advances and the rise of emerging economies, on human capital and innovation.

This book presents the ways in which three key issues of the modern world - transformation, digitalisation and sustainability - may be combined for the greater good and highlights which activities may be designed to integrate these three directly linked paths. It is an experience-derived and evidence-based analysis of how sustainable development impacts the transformation of the economy and how the business environment influences economic transformation in the light of the sustainable development principles. The book addresses the current challenges and shows how the economy can be transformed further in an organic way that meets the needs of society and the environment, through the use of digital technologies. The multidisciplinary approach to sustainability transformation is one of the core strengths of the book, as it emphasises the need for a holistic approach to the functioning of sustainable development ideas at the micro- and macro-levels. The authors present a fresh perspective, particularly around the regulations stimulating the sustainable development of enterprises, tax systems, and the allocation of capital. Moreover, the book brings together and makes available the results of the latest research on the subject, using a vast amount of primary evidence and both quantitative and qualitative methodology. The authors' insights go beyond the obvious effects of economic transformation and call attention to ways in which smart technology and digitalisation may help to achieve the Sustainable Development Goals. The book is directed first and foremost towards academics, researchers and students, but also professionals, who would like to expand their knowledge of sustainable development from a scientific perspective. Chapter 1 of this book is available for free in PDF format as Open Access from the individual product page at www.routledge.com. It has been made available under a Creative Commons Attribution-Non Commercial-No Derivatives 4.0 license.

Cinematic Virtual Reality brings a combination of documentary, narrative and game design principles to the medical profession and, in the healthcare arena, collaboration is a key component for creating intellectually- and emotionally- rich immersive experiences. "The Power of Virtual Reality Cinema for Healthcare Training" gathers more than a dozen experts from both the production and healthcare fields to break down best practices for creating successful cine-VR projects. Designed for multi-disciplinary teams interested in integrating cine-VR production into their healthcare training and educational programs, this book has been written for two audiences: the healthcare professional interested in what production experts consider when approaching a project, and the media expert curious about how this new technology can be used in the medical field. Highlights include: Cutting edge medical education techniques developed by Ohio University's GRID Lab, including: PREality (creating a forced sense of deja-vu to increase acclimation time), a unique approach to eye-tracking to enhance team performance, and the low-CRIS technique (a low-cost rapid implementation strategy to capture patient care for rapid graduate student training). Insightful production techniques that will enhance your cine-VR projects including advanced plating methods to hide lighting set-ups, immersive audio considerations, and new ways to consider 360 storytelling including the Lovrick montage and the Christmas Carol continuum for story development. Detailed explanations of the production considerations and results of specific cine-VR productions (from funding approaches to distribution) including access to more than five hours of cine-VR examples of the actual productions available for download. Details on a wide variety of medical cine-VR projects, including 100 images that illustrate best practices for topics such as recording in active medical facilities, building successful multi-disciplinary teams, working within HIPAA regulations, conceptualizing cine-VR libraries for graduate education, and implementing innovative distribution models.

This book is a guide for achieving innovation through outsourcing. Unpacking the various challenges faced by client firms and suppliers, the authors take the reader through the innovation lifecycle and devise a clear plan to achieve valuable results. Offering practical frameworks and tools to ensure informed decision-making at every stage, this book also includes collaborative structures and metrics to measure outcomes. Written by leading figures in the area of outsourcing, this book offers both the academic rigor and the hands-on experience based on dozens of cases that walk the reader from the very beginning of the outsourcing journey to the successful delivery of transformative innovations.

This book develops an integrated perspective on the practices and politics of making knowledge work in inclusive development and innovation. While debates about development and innovation commonly appeal to the authority of academic researchers, many current approaches emphasise the plurality of actors with relevant expertise for addressing livelihood challenges. Adopting an action-oriented and reflexive approach, this volume explores the variety of ways in which knowledge works, paying particular attention to dilemmas and controversies. The six parts of the book address the complex interplay of knowledge and politics, starting with the need for knowledge integration in the first part and decolonial perspectives on the politics of knowledge integration in the second part. The following three parts focus on the practices of inclusive development and innovation through three major themes of learning for transformative change, evidence, and digitisation. The final part of the book addresses the governance of knowledge and innovation in the light of political struggles about inclusivity. Exploring conceptual and practical themes through case studies from the Global North and South, this book will be of great interest to students, scholars, and practitioners researching and working in development studies, epistemology, innovation studies, science and technology studies, and sustainability studies more broadly.

As we witness a series of social, political, cultural, and economic changes/disruptions this book examines the Fourth Industrial Revolution and the way emerging technologies are impacting our lives and changing society. The Fourth Industrial Revolution is characterised by the emergence of new technologies that are blurring the boundaries between the physical, the digital, and the biological worlds. This book allows readers to explore how these technologies will impact peoples' lives by 2030. It helps readers to not only better understand the use and implications of emerging technologies, but also to imagine how their individual life will be shaped by them. The book provides an opportunity to see the great potential but also the threats and challenges presented by the emerging technologies of the Fourth Industrial Revolution, posing questions for the reader to think about what future they want. Emerging technologies, such as robotics, artificial intelligence, big data and analytics, cloud computing, nanotechnology, biotechnology, the Internet of Things, fifth-generation wireless technologies (5G), and fully autonomous vehicles, among others, will have a significant impact on every aspect of our lives, as such this book looks at their potential impact in the entire spectrum of daily life, including home life, travel, education and work, health, entertainment and social life. Providing an indication of what the world might look like in 2030, this book is essential reading for students, scholars, professionals, and policymakers interested in the nexus between emerging technologies and sustainable development, politics and society, and global governance.

The book provides deep insight into theoretical and empirical evidence on information and communication technologies (ICT) as an important factor affecting financial markets. It is focused on the impact of ICT on stock markets, bond markets, and other categories of financial markets, with the additional focus on the linked FinTech services and financial institutions. Financial markets shaped by the adoption of the new technologies are labeled 'digital financial markets'. With a wide-ranging perspective at both the local and global levels from countries at varying degrees of economic development, this book addresses an important gap in the extant literature concerning the role of ICT in the financial markets. The consequences of these processes had until now rarely been considered in a broader economic and social context, particularly when the impact of FinTech services on financial markets is taken into account. The book's theoretical discussions, empirical evidence and compilation of different views and perspectives make it a valuable and complex reference work. The principal audience of the book will be scholars in the fields of finance and economics. The book also targets professionals in the financial industry who are directly or indirectly linked to the new technologies on the financial markets, in particular various types of FinTech services. Chapters 2, 5 and 10 of this book are available for free in PDF format as Open Access from the individual product page at www.routledge.com. They have been made available under a Creative Commons Attribution-Non Commercial-No Derivatives 4.0 license.

Written by an award-winning R&D leader and CEO. Clear guidance on how to lead teams when you aren't an expert in the technical field. Insights from CEOs of high-tech organisations are provided throughout.

Data is an intrinsic part of our daily lives. Everything we do is a data point. Many of these data points are recorded with the intent to help us lead more efficient lives. We have apps that track our workouts, sleep, food intake, and personal finance. We use the data to make changes to our lives based on goals we have set for ourselves. Businesses use vast collections of data to determine strategy and marketing. Data scientists take data, analyze it, and create models to help solve problems. You may have heard of companies having data management teams or chief information officers (CIOs) or chief data officers (CDOs), etc. They are all people who work with data, but their function is more related to vetting data and preparing it for use by data scientists. The jump from personal data usage for self-betterment to mass data analysis for business process improvement often feels bigger to us than it is. In turn, we often think big data analysis requires tools held only by advanced degree holders. Although advanced degrees are certainly valuable, this book illustrates how it is not a requirement to adequately run a data science project. Because we are all already data users, with some simple strategies and exposure to basic analytical software programs, anyone who has the proper tools and determination can solve data science problems. The process presented in this book will help empower individuals to work on and solve data-related challenges. The goal of this book is to provide a step-by-step guide to the data science process so that you can feel confident in leading your own data science project. To aid with clarity and understanding, the author presents a fictional restaurant chain to use as a case study, illustrating how the various topics discussed can be applied. Essentially, this book helps traditional businesspeople solve data-related problems on their own without any hesitation or fear. The powerful methods are presented in the form of conversations, examples, and case studies. The conversational style is engaging and provides clarity.